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 FXCM and TMGM in terms of commissions and fees, both brokers offer unique benefits. FXCM's Standard account spreads for the EUR/USD were notably above the industry average in some regions, with St. Vincent and the Grenadines spreads hitting 1.38 pips. In contrast, their commission-based accounts boast average spreads of 0.28 pips, though effective spreads approach 0.74 pips after factoring in a commission-equivalent of 0.50 pips per round-turn trade. FXCM provides active trader discounts in five tiers, starting at $5 per million traded, though these rebates are less competitive than some peers like Tickmill and FP Markets. FXCM earns a respectable four-star rating for its commissions and fees, securing the 24th spot out of 62 brokers on ForexBrokers.com.
TMGM, on the other hand, offers competitive pricing with its Edge account, where traders enjoy low spreads alongside a commission of just $3.50 per side ($7 per round trip). Although TMGM did not provide recent average spread data for the EUR/USD, its clear pricing for the Edge account remains a strong incentive for those seeking clarity and low trading costs. TMGM also caters to Islamic finance customers with Sharia-compliant accounts but limits these to the Edge account, excluding their Classic account option.
Both FXCM and TMGM are rated four stars for their commissions and fees, indicating a satisfactory level of service. While FXCM holds the advantage with a higher ranking at 24th place for commissions and fees by ForexBrokers.com, TMGM's straightforward commission structure makes it attractive to traders looking for low-cost edges, despite ranking 36th out of 62 brokers reviewed.
| 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.
When comparing the mobile trading apps of FXCM and TMGM, both brokers offer apps for iPhone and Android, ensuring access to trading on the go. Users can receive stock or forex price alerts on both platforms, enhancing their ability to make timely trading decisions. While FXCM and TMGM allow users to draw trendlines and view multiple timeframes on charts, FXCM stands out by offering 59 technical studies for charting, nearly double the 30 studies available on TMGM. Additionally, FXCM provides watchlist symbol syncing, so changes made to watchlists on a mobile device automatically sync with the user's online account, a feature missing in TMGM's app. Both apps also facilitate real-time quote creation in watchlists and automatically save chart drawings, making it easier for traders to keep track of market developments.
For overall mobile trading app quality, FXCM receives a rating of 4.5 stars, higher than TMGM's 4 stars. Based on a ranking by ForexBrokers.com out of 62 brokers, FXCM holds position #16, whereas TMGM is placed at #47. In summary, while both apps deliver essential trading features, FXCM's app offers more advanced charting tools and convenient syncing capabilities, which may appeal to traders seeking more integrated and robust mobile trading experiences.
| 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
|
|---|---|---|
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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 |
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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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