Written by ForexBrokers.com
In this head to head comparison of FXCM 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.
FXCM and TMGM are both notable online brokers, although they differ significantly in their trust and regulatory standings. FXCM, established in 1999, is publicly traded and holds a high Trust Score of 95, indicating it is considered highly trusted. It is licensed with four top-tier regulatory bodies and has two additional licenses from tier-2 authorities. This means FXCM offers a strong sense of security to its users.
On the other hand, TMGM, founded in 2013, is not publicly traded and holds a Trust Score of 83, placing it in the trusted category. TMGM is licensed by two top-tier regulators, which still offers a level of credibility, but it doesn't have any tier-2 licenses. Both FXCM and TMGM are not banks, so while TMGM provides reliable services, it may not offer the same level of trust as FXCM due to fewer regulatory endorsements.
| Feature |
FXCM
|
TMGM
|
|---|---|---|
| Year Founded | 1999 | 2013 |
| Publicly Traded (Listed) | Yes | No |
| Bank | No | No |
| Tier-1 Licenses | 4 | 2 |
| Tier-2 Licenses | 2 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 2 |
When comparing the commissions and fees of online brokers FXCM and TMGM, there are several differences to consider. FXCM, with a 4-star rating for commissions and fees, charges spreads that slightly exceed the industry average for forex trading. Their standard account spreads for the EUR/USD average around 0.78 pips, although this can increase depending on the region, such as St. Vincent and the Grenadines, where the average is 1.38 pips. However, FXCM compensates this with a commission-based account, where the spread can drop to an average of 0.28 pips, excluding additional commission costs. Active traders can benefit from FXCM’s rebate program, which offers discounts up to $25 per million traded, though these offers are region-specific and volume-dependent.
On the other hand, TMGM, also rated 4 stars for commissions and fees, stands out with competitive rates for its Edge account. Unfortunately, average spread data for the EUR/USD is lacking, which can limit the ability to fully analyze trading costs. Nonetheless, the Edge account charges a modest $3.50 per side ($7 per round trip) in commissions along with low ongoing spreads. TMGM also includes options for Islamic finance customers, offering Sharia-compliant accounts through the Edge account rather than their Classic account.
In terms of ranking, FXCM is placed higher at #24 for commissions and fees on ForexBrokers.com out of 62 reviewed brokers, while TMGM is ranked slightly lower at #35. Both brokers present viable options depending on your trading preferences, volume, and specific regional offers, with FXCM offering more detailed rebate schemes and TMGM providing straightforward and low-cost commission structures.
| Feature |
FXCM
|
TMGM
|
|---|---|---|
| Minimum Deposit | Starts from $50 | $100 |
| Average Spread EUR/USD - Standard | 0.78 | N/A |
| All-in Cost EUR/USD - Active | 0.78 | N/A |
| Active Trader or VIP Discounts | Yes | No |
| ACH or SEPA Transfers | Yes | 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 FXCM and TMGM for their range of investments, both brokers provide forex trading options through CFDs or spot contracts. However, TMGM offers a significantly larger selection of tradeable symbols with over 12,000 options, compared to FXCM's 440. For forex pairs, TMGM provides 62 pairs, surpassing FXCM's 43. Neither of the brokers gives clients the opportunity to trade ETFs or shares directly on U.S. or international exchanges. Additionally, both brokers support copy trading, but do not facilitate the direct purchase of cryptocurrencies, sticking instead to cryptocurrency derivatives.
In terms of ratings and rankings, TMGM takes the lead with a 4.5-star rating for its range of investments, standing at #17 out of 62 brokers ranked by ForexBrokers.com. On the other hand, FXCM is rated at 3.5 stars and ranks at #47 in the same category. This suggests that for investors focused on a broader array of investment choices and higher-rated options, TMGM might present a more appealing choice.
| Feature |
FXCM
|
TMGM
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 440 | 12000 |
| Forex Pairs (Total) | 43 | 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 FXCM and TMGM for their trading platforms and tools, both brokers offer simulated trading through free virtual demo accounts, making it easy for users to practice their strategies. FXCM shines with its proprietary platform, offering a custom trading experience developed in-house, whereas TMGM exclusively uses third-party platforms. Both brokers provide Windows-based desktop downloads and web-based trading platforms, ensuring flexibility in accessing their services. While both offer MetaTrader 4, TMGM also includes MetaTrader 5 in its suite, giving traders more options for sophisticated analysis. However, for those interested in social trading, FXCM supports ZuluTrade, which TMGM does not provide.
FXCM takes the lead in charting capabilities with 13 watch list fields and the ability to trade directly from stock charts, while TMGM offers 7 columns for watch lists and a slightly higher number of drawing tools at 15, compared to FXCM's 10. FXCM's extensive features earn it a higher rating of 5 stars for trading platforms and tools, compared to TMGM's 4-star rating. Also, FXCM holds a strong position, ranked #6 out of 62 brokers by ForexBrokers.com in the Trading Platforms and Tools category, in contrast to TMGM's rank of #48. This distinction makes FXCM a top choice for those seeking comprehensive trading tools and a variety of platform options.
| Feature |
FXCM
|
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) | No | Yes |
| DupliTrade | No | No |
| ZuluTrade | Yes | No |
| Charting - Indicators / Studies (Total) | 115 | 30 |
| Charting - Drawing Tools (Total) | 10 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 13 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Both FXCM and TMGM offer mobile trading apps for iPhone and Android, allowing traders to stay connected on the go. They both excel in providing features like price alerts and the ability to draw trendlines on charts with multiple time frames. While both platforms enable users to create watchlists with real-time quotes, FXCM stands out by offering watchlist symbol syncing, which allows easy updates between the mobile app and online accounts, a feature TMGM lacks. Additionally, FXCM offers a more extensive range of technical studies for charting, boasting 59 options compared to TMGM's 30.
In terms of user satisfaction, FXCM slightly edges out TMGM, holding a mobile trading app rating of 4.5 stars against TMGM's 4 stars. This is reflected in their rankings by ForexBrokers.com, where FXCM is placed 16th out of 62 brokers, significantly ahead of TMGM, which is ranked 46th. Both apps auto-save chart drawings, ensuring any analysis done on the go is preserved for future reference. Overall, while both platforms provide comprehensive mobile trading solutions, FXCM offers more advanced features and greater user approval.
| Feature |
FXCM
|
TMGM
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 59 | 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 it comes to providing market insights, both FXCM and TMGM deliver daily market commentary and offer forex news from top-tier sources like Bloomberg and Reuters. Each platform incorporates tools from Trading Central for technical analysis, and both present sentiment-based trading tools to help traders gauge market positions. They also include comprehensive economic calendars to track global events, ensuring that traders are informed of macroeconomic developments.
However, key differences set them apart: FXCM offers additional market research from TipRanks, which TMGM does not. Conversely, TMGM provides research tools from Acuity Trading, a feature absent in FXCM's offerings. In terms of research ratings and rankings, FXCM holds a strong position with a 4.5-star rating and ranks 11th out of 62 brokers, whereas TMGM has a 3.5-star rating and ranks 53rd, indicating a notable distinction in their research capabilities.
| Feature |
FXCM
|
TMGM
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | No | No |
| Trading Central (Recognia) | Yes | Yes |
| Social Sentiment - Currency Pairs | Yes | Yes |
| TipRanks | Yes | No |
| Signal Centre (Acuity Trading) | No | Yes |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When it comes to educational resources for beginners, FXCM shines brighter than TMGM. For starters, FXCM offers a rich assortment of more than ten educational pieces, including articles, videos, and archived webinars, dedicated to forex and CFDs. TMGM falls short in this area, as it does not meet the same standard. Additionally, FXCM hosts regular monthly webinars for clients, a feature that TMGM does not provide. Both brokers provide a searchable archive of recorded webinars, but FXCM goes the extra mile with more than ten beginner-focused videos and another set of advanced videos for experienced traders, areas where TMGM again lags behind.
FXCM also offers an extensive investor dictionary with over 50 essential investing terms, a feature that TMGM also provides. This comprehensive approach has earned FXCM a stellar 4.5-star rating in education, ranking 14 out of 62 brokers on ForexBrokers.com. In contrast, TMGM's educational offerings have earned it a more modest rating of 3.5 stars, placing it at 54 out of 62 in the same category. Overall, for those eager to learn the ropes of online trading, FXCM presents a more valuable educational experience compared to TMGM.
| Feature |
FXCM
|
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 FXCM is better than TMGM. FXCM finished with an overall rank of #15, while TMGM finished with an overall rank of #37.
For traders who appreciate advanced trading tools and quality market research, FXCM is a winner, especially for algorithmic trading. Its range of tradeable markets is fairly narrow, however, and the pricing at FXCM is just average.
| Feature |
FXCM
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TMGM
|
|---|---|---|
| Overall Rating |
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| Trust Score | 95 | 83 |
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Both FXCM and TMGM do not provide options to purchase actual delivered cryptocurrency, but they do offer the ability to trade cryptocurrency derivatives.
FXCM and TMGM both offer a range of deposit and withdrawal methods, including PayPal, Skrill, Visa, and Mastercard, as well as bank wires; however, FXCM uniquely provides ACH or SEPA transfers, whereas TMGM does not offer these options.
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 | FXCM | TMGM | |
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| Trust Score | 95 | 83 | |
| Winner | check_circle | ||
| Review | FXCM Review | TMGM Review |
| Broker Screenshots | FXCM | TMGM | |
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| Regulation | FXCM | TMGM | |
|---|---|---|---|
| Trust Score | 95 | 83 | |
| Year Founded | 1999 | 2013 | |
| Publicly Traded (Listed) | Yes | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | No | |
| Tier-1 Licenses | 4 | 2 | |
| Tier-2 Licenses | 2 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 2 |
| Tier-1 Licenses (Highly Trusted) | FXCM | TMGM | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | Yes | |
| Canada (CIRO Authorised) | Yes | 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) | Yes | 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) | FXCM | TMGM | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | Yes | 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 | FXCM | TMGM | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 440 | 12000 | |
| Forex Pairs (Total) | 43 | 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 | FXCM | TMGM | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 0.78 | N/A | |
| All-in Cost EUR/USD - Active | 0.78 | N/A | |
| Active Trader or VIP Discounts | Yes | No | |
| Inactivity Fee | Yes | Yes | |
| Execution: Agency Broker | Yes | Yes | |
| Execution: Market Maker | Yes | Yes |
| Funding | FXCM | TMGM | |
|---|---|---|---|
| Minimum Deposit | Starts from $50 | $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 | Yes | No |
| Trading Platforms | FXCM | 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) | No | Yes | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | Yes | No |
| Trading Tools | FXCM | TMGM | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 13 | 7 | |
| Charting - Indicators / Studies (Total) | 115 | 30 | |
| Charting - Drawing Tools (Total) | 10 | 15 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | FXCM | TMGM | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | Yes | No | |
| Mobile Charting - Indicators / Studies | 59 | 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 | FXCM | TMGM | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | No | No | |
| Trading Central (Recognia) | Yes | Yes | |
| TipRanks | Yes | No | |
| Social Sentiment - Currency Pairs | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | FXCM | 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 | FXCM | 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 | FXCM Review | TMGM Review |
| Overall | FXCM | TMGM | |
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| Trust Score | 95 | 83 | |
| Winner | check_circle | ||
| Review | FXCM Review | TMGM Review |
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