Written by ForexBrokers.com
In this head to head comparison of TMGM vs Octa, 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.
When comparing online brokers TMGM and Octa, several factors like regulatory licenses and trust scores are crucial for potential investors. Founded in 2013, TMGM is not publicly traded and does not operate as a bank. It holds two Tier-1 licenses, reflecting a high level of trust according to ForexBrokers.com, and boasts a Trust Score of 83 out of 99, classifying it as a trusted broker. In contrast, Octa, founded in 2011, also is not publicly traded and isn't a bank. It holds one Tier-1 license and one Tier-2 license, with a Trust Score of 72, indicating an average risk.
The licensing and trust score distinctions shed light on the relative reliability of these brokers. TMGM's possession of two top-tier licenses enhances its credibility among investors, aligning with its higher trust rating. Octa, on the other hand, balances its single high-trust Tier-1 license with an additional Tier-2 license, catering to investors who understand its modestly higher risk profile compared to TMGM. Whether you prioritize a strong regulatory framework or a diverse licensing setup, both brokers offer unique advantages for different trading strategies.
| Feature |
TMGM
|
Octa
|
|---|---|---|
| Year Founded | 2013 | 2011 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 2 | 1 |
| Tier-2 Licenses | 0 | 1 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 2 | 1 |
When comparing TMGM and Octa on commissions and fees, both brokers offer distinct advantages to traders. TMGM sets itself apart with its Edge account, providing low spreads and competitive commissions. Suitable for traders looking to manage costs effectively, the Edge account charges a modest $3.50 per side, totaling $7 for a round trip. This account also accommodates Islamic finance with Sharia-compliant options. However, TMGM does not provide recent average spread data, which can make it difficult for traders to assess the comprehensive costs of trading. TMGM earns a 4-star rating for its commission and fee structure and is ranked #36 out of 62 brokers by ForexBrokers.com.
Conversely, Octa has made significant improvements in pricing, establishing itself among the leading low-cost MetaTrader brokers. Responsible for 97.5% of its executed orders experiencing no slippage and no overnight carrying costs, Octa still has specific restrictions affecting high-frequency traders. The broker offers varying account types depending on your region, with different spreads for its EU and international entities. For example, the average spread for the EUR/USD pair is 0.5 pips for the EU entity and 0.9 pips for its overseas offices. Despite lacking date references for typical spread data, Octa's overall pricing has evolved positively, earning it a 4-star rating and a higher rank of #29 out of 62 brokers by ForexBrokers.com.
| Feature |
TMGM
|
Octa
|
|---|---|---|
| Minimum Deposit | $100 | $25 |
| Average Spread EUR/USD - Standard | N/A | 0.9 |
| All-in Cost EUR/USD - Active | N/A | N/A |
| Active Trader or VIP Discounts | No | No |
| ACH or SEPA Transfers | No | No |
| PayPal (Deposit/Withdraw) | Yes | No |
| 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 choosing between TMGM and Octa for online trading, one noticeable difference lies in the breadth of tradeable symbols. TMGM offers a vast array of 12,000 symbols, dwarfing Octa's offering of 300 symbols. Forex traders will also find TMGM's selection more extensive, as it provides access to 62 currency pairs compared to Octa's 35. Both platforms offer forex trading through CFDs or spot contracts and support copy trading, ensuring versatile trading experiences. However, neither broker allows the purchase of actual cryptocurrencies nor exchange-traded securities on U.S. exchanges. One notable distinction is Octa's provision of access to international exchange-traded securities, which is unavailable with TMGM.
Regarding alternative investment opportunities, both TMGM and Octa offer cryptocurrency derivatives, but not actual cryptocurrency purchases. In ratings, TMGM holds an advantage with a "Range of Investments" rating of 4.5 stars, ranking #17 out of 62 brokers on ForexBrokers.com. On the other hand, Octa, while maintaining a decent rating of 3.5 stars, ranks lower at #52. These differences highlight that TMGM could be more appealing for traders prioritizing a wide range of trading options, while Octa might suit those preferring international securities.
| Feature |
TMGM
|
Octa
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 12000 | 300 |
| Forex Pairs (Total) | 62 | 35 |
| U.S. Stock Trading (Non CFD) | No | No |
| Int'l Stock Trading (Non CFD) | No | Yes |
| 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 TMGM and Octa for their trading platforms and tools, both brokers offer a range of features catering to different trader preferences. TMGM and Octa allow simulated trading through free virtual demo accounts, making it easy for newcomers to familiarize themselves with the platforms. Both brokers support the popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5), and provide downloadable desktop platforms for Windows users along with web-based trading solutions. While TMGM does not have a proprietary platform, Octa does, giving it a unique edge among traders who might prefer a custom-built solution. Both platforms enable copy trading and allow users to trade directly from stock charts.
In terms of charting tools, TMGM and Octa each offer 15 drawing tools, facilitating a comprehensive analysis experience. For watch lists, both brokers provide 7 columns, making it straightforward to track multiple stocks at once. Each platform is user-friendly, accommodating various trading needs, and is rated four out of five stars for their trading platforms and tools. However, in terms of ranking by ForexBrokers.com, Octa outperforms TMGM slightly, coming in at #37 out of 62 brokers, while TMGM is ranked #48, indicating a slight preference among users for Octa's platform offerings.
| Feature |
TMGM
|
Octa
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | No | Yes |
| 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) | 15 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 7 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Both TMGM and Octa offer comprehensive mobile trading apps suitable for both iPhone and Android users. You can receive stock or forex price alerts from each, ensuring you never miss important market movements. Chart enthusiasts will appreciate that both apps support up to 30 technical studies and allow drawing of trendlines, while also supporting multiple time frames, whether daily, weekly, or intraday. The apps also auto-save any chart drawings, letting you focus on trading without the worry of losing your annotations.
While the mobile trading apps deliver several features, like creating a watchlist with real-time quotes, they both lack the ability to sync watchlists seamlessly with their corresponding online accounts. They share a respectable 4-star rating; however, in comparison to other brokers, ForexBrokers.com ranks Octa slightly higher at 35 out of 62, whereas TMGM comes in at 47. This difference in ranking could be a determining factor for some traders when choosing between the two. Overall, both TMGM and Octa provide reliable mobile trading experiences with many similar features, though their rankings show subtle differences in user preference.
| Feature |
TMGM
|
Octa
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | No | No |
| Mobile Charting - Indicators / Studies | 30 | 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 market research offerings, both TMGM and Octa provide daily market commentary and access to forex news from premiere sources like Bloomberg and Reuters. While TMGM integrates Trading Central's tools, Octa offers resources from Autochartist. TMGM takes advantage of Acuity Trading's tools, such as Signal Centre, and provides sentiment-based trading tools that analyze market positions, which Octa does not. However, both brokers include an economic calendar for tracking global news events.
Despite these offerings, TMGM receives a research rating of 3.5 out of five stars, compared to Octa's four stars. In an evaluation of research services among 62 brokers by ForexBrokers.com, TMGM ranks at #53, while Octa sits much higher at #26. This suggests that while TMGM offers a diverse array of tools, Octa might have a slight edge in overall research quality according to industry rankings.
| Feature |
TMGM
|
Octa
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | No | Yes |
| Trading Central (Recognia) | Yes | No |
| Social Sentiment - Currency Pairs | Yes | No |
| TipRanks | No | No |
| Signal Centre (Acuity Trading) | Yes | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When it comes to educational resources for beginners, Octa offers more comprehensive options compared to TMGM. Octa provides a wealth of content, including over ten educational materials focusing on forex and CFDs, while TMGM falls short of this. Additionally, Octa hosts monthly educational webinars, providing live learning opportunities for its clients, an area where TMGM does not participate. Both brokers, however, offer searchable archives of past webinars, allowing clients to catch up on missed sessions at their convenience.
For those new to trading, Octa delivers an edge with more than ten beginner-friendly educational videos, which are not available through TMGM. The same advantage extends to advanced traders, as Octa supplies over ten informational videos tailored for experienced users. In terms of resources like investor dictionaries, both platforms match in providing definitions for over 50 investing terms. This comprehensive approach has earned Octa a higher educational rating of 4 stars compared to TMGM's 3.5 stars, and Octa is ranked 41 out of 62 brokers in the Education category, while TMGM is ranked 54.
| Feature |
TMGM
|
Octa
|
|---|---|---|
| Education (Forex or CFDs) | No | Yes |
| Client Webinars | No | Yes |
| Client Webinars (Archived) | Yes | Yes |
| Videos - Beginner Trading Videos | No | Yes |
| Videos - Advanced Trading Videos | No | Yes |
| 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 TMGM is better than Octa. TMGM finished with an overall rank of #37, while Octa finished with an overall rank of #47.
TMGM stands out for its impressive education toolset, though it still trails behind the best brokers in most categories. TMGM offers a small range of markets via the MetaTrader 4 (MT4) platform. While primarily a MetaTrader broker, it also offers the more exclusive IRESS platform – though the platform-specific requirements will limit who can use it.
| Feature |
TMGM
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Octa
|
|---|---|---|
| Overall Rating |
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| Trust Score | 83 | 72 |
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TMGM and Octa both do not offer the ability to buy actual delivered cryptocurrency, but they each provide options for trading cryptocurrency derivatives.
Comparing online brokers, TMGM and Octa both do not provide ACH or SEPA transfers for account deposits or withdrawals, while TMGM offers PayPal as a payment option, unlike Octa; both platforms accept Skrill and major credit cards such as Visa and Mastercard, as well as bank wire transfers for handling account funds.
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 | TMGM | Octa | |
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| Trust Score | 83 | 72 | |
| Winner | check_circle | ||
| Review | TMGM Review | Octa Review |
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| Regulation | TMGM | Octa | |
|---|---|---|---|
| Trust Score | 83 | 72 | |
| Year Founded | 2013 | 2011 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | No | Yes | |
| Tier-1 Licenses | 2 | 1 | |
| Tier-2 Licenses | 0 | 1 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 2 | 1 |
| Tier-1 Licenses (Highly Trusted) | TMGM | Octa | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | No | |
| 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) | Yes | No | |
| Regulated in one or more EU or EEA countries (MiFID). | No | Yes |
| Tier-2 Licenses (Trusted) | TMGM | Octa | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | Yes | |
| UAE (DFSA/Central Bank Authorised) | No | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | TMGM | Octa | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 12000 | 300 | |
| Forex Pairs (Total) | 62 | 35 | |
| U.S. Stock Trading (Non CFD) | No | No | |
| Int'l Stock Trading (Non CFD) | No | Yes | |
| 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 | TMGM | Octa | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | N/A | 0.9 | |
| All-in Cost EUR/USD - Active | N/A | N/A | |
| Active Trader or VIP Discounts | No | No | |
| Inactivity Fee | Yes | No | |
| Execution: Agency Broker | Yes | Yes | |
| Execution: Market Maker | Yes | Yes |
| Funding | TMGM | Octa | |
|---|---|---|---|
| Minimum Deposit | $100 | $25 | |
| PayPal (Deposit/Withdraw) | Yes | No | |
| 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 | TMGM | Octa | |
|---|---|---|---|
| Proprietary Platform | No | Yes | |
| 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 | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | TMGM | Octa | |
|---|---|---|---|
| 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) | 15 | 15 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | TMGM | Octa | |
|---|---|---|---|
| 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 | 30 | 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 | TMGM | Octa | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | No | Yes | |
| Trading Central (Recognia) | Yes | No | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | No | |
| Economic Calendar | Yes | Yes |
| Education | TMGM | Octa | |
|---|---|---|---|
| Education (Forex or CFDs) | No | Yes | |
| Client Webinars | No | Yes | |
| Client Webinars (Archived) | Yes | Yes | |
| Videos - Beginner Trading Videos | No | Yes | |
| Videos - Advanced Trading Videos | No | Yes | |
| Investor Dictionary (Glossary) | Yes | Yes |
| Major Forex Pairs | TMGM | Octa | |
|---|---|---|---|
| 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 | TMGM Review | Octa Review |
| Overall | TMGM | Octa | |
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| Trust Score | 83 | 72 | |
| Winner | check_circle | ||
| Review | TMGM Review | Octa Review |
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