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 stands out with a competitive fee structure for its ECN account, generally making it one of the more affordable choices for traders worldwide. It earned the prestigious Best in Class title for Commissions and Fees in the 2024 Annual Awards, underscoring its commitment to cost-effectiveness. The Raw ECN account at FP Markets offers excellent spreads—a notable 0.1 pips on average as of October 2023, translating to 0.8 pips when factoring in commissions. On the other hand, the Standard account has higher spreads, averaging 1.1 pips for EUR/USD. The broker's Iress platform offers several pricing tiers; however, value is most apparent in accounts meant for active, high-balance traders.
In comparison, TMGM also offers competitive commission rates, specifically through its Edge account, which features low spreads and a $7 round-trip commission, ideal for traders seeking efficiency in execution costs. Although exact recent average spread data for the EUR/USD is not readily available, the Edge account remains a strong contender due to its overall cost-effective setup. TMGM provides an Islamic finance-compliant account option through the Edge account for those requiring an interest-free setup.
In terms of ratings, FP Markets shines with a 5-star rating for its commissions and fees, positioned at #6 in the category out of 62 brokers, as ranked by ForexBrokers.com. Meanwhile, TMGM comes in with a respectable 4-star rating, securing the #36 spot in the same category. Both brokers offer appealing options for traders, with FP Markets taking a slight edge due to its standout accolades and competitive pricing for active trading.
| 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.
When comparing the mobile trading apps of FP Markets and TMGM, both brokers offer comprehensive tools for traders on the move. They cater to iPhone and Android users and provide essential features like price alerts and real-time quotes on watchlists. However, both brokers do not offer watchlist symbol syncing between the mobile app and online account, which may be a consideration for those who frequently update their watchlists across devices. In terms of charting capabilities, FP Markets uses MetaTrader (Default) for technical studies, while TMGM provides a selection of 30 different studies. Both apps support drawing trendlines on charts, multiple time frame views, and saving these drawings automatically, which helps traders track and analyze market movements efficiently.
In terms of user satisfaction, both FP Markets and TMGM have a commendable mobile app rating of 4 out of 5 stars. Despite this, FP Markets stands out slightly with a higher rank from ForexBrokers.com, coming in at 18th out of 62 brokers, whereas TMGM is ranked 47th. While both apps offer competitive features for mobile trading, FP Markets might have a slight edge in overall user experience and ranking. Traders looking for a mobile solution will find capable tools within both apps, ensuring they have access to the market and trading functionalities wherever they are.
| 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 |
|
|
| Trust Score | 89 | 83 |
| Range of Investments |
|
|
| Commissions & Fees |
|
|
| Platform & Tools |
|
|
| Research |
|
|
| Mobile Trading |
|
|
| Education |
|
|
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.
Select Brokers
↓×Compare
0 of 5| Overall Rating | FP Markets | TMGM | |
|---|---|---|---|
| Overall Rating |
|
| |
| Commissions & Fees |
|
| |
| Range of Investments |
|
| |
| Platform & Tools |
|
| |
| Mobile Trading |
|
| |
| Research |
|
| |
| Education |
|
| |
| Trust Score | 89 | 83 | |
| Winner | check_circle | ||
| Review | FP Markets Review | TMGM Review |
| Broker Screenshots | FP Markets | TMGM | |
|---|---|---|---|
| Trading Platforms Gallery (click to expand) |
|
| |
| Mobile Trading Gallery (click to expand) |
|
| |
| Research Gallery (click to expand) |
|
| |
| Education Gallery (click to expand) |
|
|
| 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 | |
|---|---|---|---|
| Overall Rating |
|
| |
| Commissions & Fees |
|
| |
| Range of Investments |
|
| |
| Platform & Tools |
|
| |
| Mobile Trading |
|
| |
| Research |
|
| |
| Education |
|
| |
| Trust Score | 89 | 83 | |
| Winner | check_circle | ||
| Review | FP Markets Review | TMGM Review |
IG
CMC Markets
FOREX.com
XTB
eToro
AvaTrade
Plus500
Pepperstone
FP Markets
Tickmill