Written by ForexBrokers.com
In this head to head comparison of FP Markets vs TMGM, we will compare the trading platforms, mobile apps, range of investments, costs, market research, and more. Let's dive in.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 51% and 89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
FP Markets and TMGM are noteworthy online brokers, each offering various features for online trading. FP Markets, established in 2005, and TMGM, founded in 2013, are both private firms, not publicly traded or affiliated with banking institutions. When it comes to regulatory compliance, FP Markets holds two Tier-1 licenses and one Tier-2 license, earning a Trust Score of 89 from ForexBrokers.com, which places it in the trusted category. On the other hand, TMGM is equipped with two Tier-1 licenses, receiving a Trust Score of 83, denoting it as a trusted broker as well. Both brokers effectively deliver trusted trading environments, with their regulatory licenses supporting client confidence.
While FP Markets and TMGM share similarities in their trust categories, they differ in their approach to licensing. FP Markets’ combination of Tier-1 and Tier-2 licenses may provide an added layer of trustworthiness. Such differences could be crucial for traders looking to choose between these brokers. However, both brokers manage to foster secure platforms acknowledged by their substantial trust ratings, indicating their competence in maintaining a reliable trading landscape. Given their favorable standing with ForexBrokers.com, both FP Markets and TMGM present viable options for traders seeking a regulation-focused broker.
| Feature |
FP Markets
|
TMGM
|
|---|---|---|
| Year Founded | 2005 | 2013 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 2 | 2 |
| Tier-2 Licenses | 1 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 2 |
FP Markets and TMGM both offer competitive commission structures, catering to different trading needs. FP Markets shines with its commission-based ECN account, earning a 5-star rating and ranking 6th out of 62 brokers for commissions and fees according to ForexBrokers.com. The broker provides highly competitive spreads on its Raw ECN account, averaging 0.1 pips, making it an ideal choice for cost-conscious traders. However, its Iress ViewPoint account is more suited for active traders with larger balances due to higher price points. Additionally, the Iress Investor account offers a more straightforward trading experience at a lower cost, albeit with limited features.
On the other hand, TMGM boasts a competitive commission rate for its Edge account, which is bolstered by low spreads and, importantly, no requotes. This account type charges a modest $7 per round trip. While TMGM's commission-based Edge account is considered a better deal compared to its spread-only Classic account, the lack of available average spread data for the EUR/USD may be a consideration for traders seeking full cost transparency. TMGM holds a solid 4-star rating and ranks 35th out of 62 brokers for commissions and fees.
In summary, FP Markets offers more flexibility with different account types suitable for both cost-focused and active, high-balance traders. Meanwhile, TMGM stands out with low commissions and spreads in its Edge account but lacks some transparency in average spread data, which might be crucial for some traders. Both brokers are reliable options, with FP Markets taking the lead in terms of overall cost-effectiveness.
| Feature |
FP Markets
|
TMGM
|
|---|---|---|
| Minimum Deposit | $100 AUD | $100 |
| Average Spread EUR/USD - Standard | 1.2 | N/A |
| All-in Cost EUR/USD - Active | 0.7 | N/A |
| Active Trader or VIP Discounts | Yes | No |
| ACH or SEPA Transfers | No | No |
| PayPal (Deposit/Withdraw) | Yes | Yes |
| Skrill (Deposit/Withdraw) | Yes | Yes |
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
When comparing the investment offerings of FP Markets and TMGM, both brokers primarily emphasize forex trading. They each provide access to forex trading via Contracts for Difference (CFDs) or spot contracts. FP Markets offers a broader selection with 71 tradeable forex pairs, while TMGM lists 62. In terms of overall tradeable symbols, TMGM comes out ahead, featuring 12,000 compared to FP Markets' 10,000. Although neither platform provides direct access to buying U.S. or international exchange-traded securities like Apple or Vodafone shares, they do offer the capability to trade cryptocurrency derivatives without the ability to purchase the actual cryptocurrencies.
Both FP Markets and TMGM support copy trading features for those interested in mirroring others' trading strategies. For the range of investment options, each broker receives a 4.5-star rating, demonstrating their competitive stature. However, a nuanced examination by ForexBrokers.com sees TMGM ranked slightly higher at 17th out of 62 brokers, with FP Markets closely trailing at the 18th position. This comparison demonstrates that while the brokers are similar in many respects, TMGM offers slightly more variety in terms of tradeable symbols, potentially appealing to investors seeking broader options.
| Feature |
FP Markets
|
TMGM
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 10000 | 12000 |
| Forex Pairs (Total) | 71 | 62 |
| U.S. Stock Trading (Non CFD) | No | No |
| Int'l Stock Trading (Non CFD) | No | No |
| Social Trading / Copy Trading | Yes | Yes |
| Cryptocurrency (Physical) | No | No |
| Cryptocurrency (Derivative) | Yes | Yes |
| Disclaimers | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). |
Dive deeper: Best Copy Trading Platforms.
When comparing the trading platforms and tools of FP Markets and TMGM, both brokers offer users access to a variety of popular features that enhance the trading experience. FP Markets and TMGM provide free virtual demo accounts, making it easy for traders to practice and hone their skills without financial risk. While both brokers support MetaTrader 4 and MetaTrader 5, FP Markets goes a step further with its proprietary platform for traders seeking a unique interface. Both brokers also offer downloadable Windows-based platforms and convenient web-based trading options. Features like copy trading are available with both brokers, while neither supports DupliTrade or ZuluTrade. When it comes to charting capabilities, FP Markets provides 17 drawing tools compared to TMGM's 15, although both offer direct trading from stock charts.
FP Markets and TMGM are on par when it comes to organizing trades with seven fields available for watch lists. Both brokers have earned a respectable four-star rating for their trading platforms and tools, though FP Markets is ranked higher by ForexBrokers.com, standing at #23 among 62 brokers, while TMGM is ranked at #48. This highlights FP Markets as the slightly favored option for traders prioritizing platform features, despite both brokers sharing similar effective trading environments.
| Feature |
FP Markets
|
TMGM
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | No |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | Yes | Yes |
| MetaTrader 4 (MT4) | Yes | Yes |
| MetaTrader 5 (MT5) | Yes | Yes |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 30 | 30 |
| Charting - Drawing Tools (Total) | 17 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 7 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
FP Markets and TMGM both offer mobile apps for iPhone and Android users, providing essential features for forex and stock trading. Users of either app can receive price alerts and draw trendlines on charts, as well as view multiple time frames such as daily or weekly intervals. In addition, both apps allow users to create watchlists with real-time quotes, although they do not support automatic syncing of watchlist symbols with an online account. However, one key distinction lies in the number of technical studies available for charting; FP Markets offers the MetaTrader default set, whereas TMGM provides 30 different options.
Despite their similarities, FP Markets edges out in rankings and overall user ratings. Both apps boast a solid four-star rating for mobile trading, but FP Markets holds the 18th position among 62 brokers, compared to TMGM's ranking at 46th. For traders seeking to fully utilize charting capabilities, while both platforms auto-save chart drawings, the additional technical study options provided by TMGM may be attractive. Overall, both platforms present competitive mobile trading solutions for those looking to manage investments on the go.
| Feature |
FP Markets
|
TMGM
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | No | No |
| Mobile Charting - Indicators / Studies | MetaTrader (Default) | 30 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | Yes | Yes |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
When comparing FP Markets and TMGM for market research, both brokers offer daily market commentary and access to top-tier forex news sources like Bloomberg, Reuters, and Dow Jones. However, FP Markets stands out by providing tools from Autochartist and Trading Central for technical and fundamental analysis, whereas TMGM only offers tools from Trading Central. Both brokers offer sentiment-based trading tools and maintain comprehensive economic calendars to track global news.
Exclusive to TMGM is research from Acuity Trading, offering tools like Signal Centre, which FP Markets does not provide. Despite this, FP Markets earns a higher research rating of 4 stars compared to TMGM's 3.5 stars. According to ForexBrokers.com, FP Markets ranks 25th in research out of 62 brokers, while TMGM is positioned at 53rd, reflecting the more extensive research offerings available at FP Markets.
| Feature |
FP Markets
|
TMGM
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | No |
| Trading Central (Recognia) | Yes | Yes |
| Social Sentiment - Currency Pairs | Yes | Yes |
| TipRanks | No | No |
| Signal Centre (Acuity Trading) | No | Yes |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
FP Markets and TMGM present distinct educational resources aimed at aiding beginners in their trading journey. FP Markets stands out with over ten educational pieces covering forex and CFDs, offering a comprehensive array of articles, videos, and webinars. It also provides monthly online webinars to nurture client learning, alongside a searchable archive of past webinars. Beginners benefit from more than ten specific educational videos that simplify trading topics, complemented by advanced content for those looking to deepen their knowledge. An investor dictionary rounding up over 50 investing terms further enhances its educational offerings, earning FP Markets a 4-star rating in education.
TMGM, in comparison, offers fewer resources for novice traders. It does not provide a baseline of ten forex or CFDs educational pieces or monthly educational webinars for clients. However, it does maintain a searchable archive of past webinars and an investor dictionary with over 50 investing terms. The lack of beginner-centric video content and advanced trader videos indicates fewer options for building trading skills compared to FP Markets. TMGM receives a slightly lower education rating of 3.5 stars and ranks at number 54 of 62 brokers, whereas FP Markets ranks at 23. This comparison highlights FP Markets as a more comprehensive choice for beginners seeking educational support in trading.
| Feature |
FP Markets
|
TMGM
|
|---|---|---|
| Education (Forex or CFDs) | Yes | No |
| Client Webinars | Yes | No |
| Client Webinars (Archived) | Yes | Yes |
| Videos - Beginner Trading Videos | Yes | No |
| Videos - Advanced Trading Videos | Yes | No |
| Investor Dictionary (Glossary) | Yes | Yes |
Dive deeper: Best Forex Brokers for Beginners.
After testing 62 of the best forex brokers, our research and account testing finds that FP Markets is better than TMGM. FP Markets finished with an overall rank of #19, while TMGM finished with an overall rank of #37.
FP Markets shines as a low-cost broker for trading forex and CFDs – as long as you use the MetaTrader platform. The Iress platform suite offers well over 9,000 tradeable symbols, but it’s mostly a share trading platform – and is generally a much pricier option.
| Feature |
FP Markets
|
TMGM
|
|---|---|---|
| Overall Rating |
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| Trust Score | 89 | 83 |
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Both FP Markets and TMGM do not provide the option to purchase actual delivered cryptocurrency, but they do offer the ability to invest in cryptocurrency derivatives.
Both FP Markets and TMGM offer options like PayPal, Skrill, Visa or Mastercard, and bank wires for depositing or withdrawing account funds, but neither supports ACH or SEPA transfers.
Please note:
We review each broker’s overall global offering – a “Yes” checkmark in our Compare Tool does not guarantee the availability of any specific features in your country of residence. To verify the availability of any features within your country of residence, please contact the broker directly.
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0 of 5| Overall Rating | FP Markets | TMGM | |
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| Trust Score | 89 | 83 | |
| Winner | check_circle | ||
| Review | FP Markets Review | TMGM Review |
| Broker Screenshots | FP Markets | TMGM | |
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| Regulation | FP Markets | TMGM | |
|---|---|---|---|
| Trust Score | 89 | 83 | |
| Year Founded | 2005 | 2013 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | No | |
| Tier-1 Licenses | 2 | 2 | |
| Tier-2 Licenses | 1 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 2 |
| Tier-1 Licenses (Highly Trusted) | FP Markets | TMGM | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | Yes | |
| Canada (CIRO Authorised) | No | No | |
| Hong Kong (SFC Authorised) | No | No | |
| Japan (SFC Authorised) | No | No | |
| Singapore (MAS Authorised) | No | No | |
| Switzerland (FINMA Authorised) | No | No | |
| United Kingdom (U.K.) (FCA Authorised) | No | No | |
| USA (CFTC Authorized) | No | No | |
| New Zealand (FMA Authorised) | No | Yes | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | No |
| Tier-2 Licenses (Trusted) | FP Markets | TMGM | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | Yes | No | |
| UAE (DFSA/Central Bank Authorised) | No | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | FP Markets | TMGM | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 10000 | 12000 | |
| Forex Pairs (Total) | 71 | 62 | |
| U.S. Stock Trading (Non CFD) | No | No | |
| Int'l Stock Trading (Non CFD) | No | No | |
| Social Trading / Copy Trading | Yes | Yes | |
| Cryptocurrency (Physical) | No | No | |
| Cryptocurrency (Derivative) | Yes | Yes | |
| Disclaimers | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). |
| Cost | FP Markets | TMGM | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.2 | N/A | |
| All-in Cost EUR/USD - Active | 0.7 | N/A | |
| Active Trader or VIP Discounts | Yes | No | |
| Inactivity Fee | No | Yes | |
| Execution: Agency Broker | No | Yes | |
| Execution: Market Maker | Yes | Yes |
| Funding | FP Markets | TMGM | |
|---|---|---|---|
| Minimum Deposit | $100 AUD | $100 | |
| PayPal (Deposit/Withdraw) | Yes | Yes | |
| Skrill (Deposit/Withdraw) | Yes | Yes | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | No | No |
| Trading Platforms | FP Markets | TMGM | |
|---|---|---|---|
| Proprietary Platform | Yes | No | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | Yes | |
| MetaTrader 4 (MT4) | Yes | Yes | |
| MetaTrader 5 (MT5) | Yes | Yes | |
| cTrader | Yes | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | FP Markets | TMGM | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 7 | 7 | |
| Charting - Indicators / Studies (Total) | 30 | 30 | |
| Charting - Drawing Tools (Total) | 17 | 15 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | FP Markets | TMGM | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | No | No | |
| Mobile Charting - Indicators / Studies | MetaTrader (Default) | 30 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | Yes | Yes | |
| Mobile Economic Calendar | Yes | Yes |
| Research | FP Markets | TMGM | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | No | |
| Trading Central (Recognia) | Yes | Yes | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | FP Markets | TMGM | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | No | |
| Client Webinars | Yes | No | |
| Client Webinars (Archived) | Yes | Yes | |
| Videos - Beginner Trading Videos | Yes | No | |
| Videos - Advanced Trading Videos | Yes | No | |
| Investor Dictionary (Glossary) | Yes | Yes |
| Major Forex Pairs | FP Markets | TMGM | |
|---|---|---|---|
| GBP/USD | Yes | Yes | |
| USD/JPY | Yes | Yes | |
| EUR/USD | Yes | Yes | |
| USD/CHF | Yes | Yes | |
| USD/CAD | Yes | Yes | |
| NZD/USD | Yes | Yes | |
| AUD/USD | Yes | Yes | |
| Review | FP Markets Review | TMGM Review |
| Overall | FP Markets | TMGM | |
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| Trust Score | 89 | 83 | |
| Winner | check_circle | ||
| Review | FP Markets Review | TMGM Review |
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