Written by ForexBrokers.com
In this head to head comparison of Pepperstone 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.
Pepperstone and TMGM are two prominent names in the online brokerage sphere, each with its own merits. Founded in 2010, Pepperstone holds three Tier-1 licenses and two Tier-2 licenses, showcasing a strong regulatory standing. It boasts a high Trust Score rating of 95 out of 99 according to ForexBrokers.com, indicating it is highly trusted. In contrast, TMGM, established in 2013, is also a non-publicly traded and non-banking entity, but holds two Tier-1 licenses with no Tier-2 licenses. Its Trust Score of 83 signifies a trusted status, but slightly less so than Pepperstone.
Both Pepperstone and TMGM are private and operate independently of any banking affiliations. While neither is publicly traded, their regulatory credentials differ. Pepperstone's multiple Tier-1 and Tier-2 licenses contribute to its higher trust rating, making it a potentially more appealing choice for those who prioritize regulatory assurance. Meanwhile, TMGM's satisfactory Trust Score and Tier-1 licenses provide a trustworthy, albeit marginally lower-ranking, alternative for online trading enthusiasts.
| Feature |
Pepperstone
|
TMGM
|
|---|---|---|
| Year Founded | 2010 | 2013 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 3 | 2 |
| Tier-2 Licenses | 2 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 2 | 2 |
Pepperstone and TMGM both offer competitive trading accounts, yet they carry distinct differences in their commission structures and fees. Pepperstone's Razor account is ideal for high-volume traders seeking the best cost-value through its Active Trader program. It operates on a commission-based structure with an average spread of 0.10 pips for the EUR/USD, which, when incorporating the commission-equivalent of 0.70 pips, results in an all-in cost of 0.80 pips. On the other hand, the Standard account is commission-free with a wider spread of 1.1 pips, making it less affordable compared to the Razor account. Pepperstone also provides rebates in the form of spread reductions for active traders, with varying rates and requirements based on geographic regions.
TMGM's Edge account stands out for its competitive pricing, offering low spreads accompanied by a modest commission fee of $3.50 per side ($7 per round trip), providing a cost-effective alternative for forex traders. Although specific average spread data for TMGM’s EUR/USD was unavailable, the broker emphasizes the Edge account as the favorable choice for those seeking more transparency and competitive pricing. Additionally, TMGM extends options for Islamic finance clients by offering swap-free, Sharia-compliant accounts solely through the Edge account, whereas the Classic account remains a spread-only choice.
In the evaluation of commissions and fees, Pepperstone earns an impressive 4.5-star rating and ranks 10th out of 62 brokers, as assessed by ForexBrokers.com. Meanwhile, TMGM receives a respectable 4-star rating, placing it at the 35th position in the same category. Each broker caters to different trading needs and preferences, with Pepperstone being particularly appealing for active and volume-focused traders, while TMGM presents a straightforward, competitive option for those preferring a simple commission scheme.
| Feature |
Pepperstone
|
TMGM
|
|---|---|---|
| Minimum Deposit | $0 | $100 |
| Average Spread EUR/USD - Standard | 1.00 | N/A |
| All-in Cost EUR/USD - Active | 0.70 | 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.
Pepperstone and TMGM both provide traders with a variety of investment options, focusing on forex trading as CFDs or spot contracts. While Pepperstone offers 1,726 tradeable symbols, TMGM significantly surpasses this with 12,000 available symbols. When it comes to forex pairs, Pepperstone provides 65 pairs compared to TMGM's 62. However, neither broker offers the ability to purchase exchange-traded securities on U.S. or international exchanges, meaning clients can't buy shares directly, such as Apple or Vodafone. Both platforms support copy trading, helping traders mirror successful strategies, and they also offer cryptocurrency derivatives, but not actual cryptocurrencies.
In the area of Range of Investments, TMGM edges out Pepperstone slightly, holding a 4.5-star rating compared to Pepperstone’s 4-star rating. Additionally, in a competitive review by ForexBrokers.com, TMGM is ranked #17 out of 62 brokers, placing it ahead of Pepperstone, which ranks at #26. For traders deciding between these two platforms, it's clear that TMGM provides a wider selection of tradeable symbols, whereas Pepperstone offers a slightly broader selection of forex pairs. Both brokers are solid choices for those interested in CFD markets and copy trading.
| Feature |
Pepperstone
|
TMGM
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 1726 | 12000 |
| Forex Pairs (Total) | 65 | 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.
Pepperstone and TMGM both offer solid trading platforms and tools suited for traders at any level. They provide simulated trading with free virtual demo accounts, allowing users to practice and hone their skills without financial risk. Both brokers support Windows-based desktop and web-based trading platforms, making it easy to manage trades from any device. Pepperstone stands out with its proprietary platform, while TMGM lacks this feature. The brokers offer copy trading, and both support popular platforms like MetaTrader 4 and MetaTrader 5. However, only Pepperstone offers DupliTrade while neither offers ZuluTrade.
When it comes to charting tools, Pepperstone provides a richer experience with 30 drawing tools compared to TMGM's 15. Both brokers allow direct trading from stock charts and offer the same number of columns for watch lists. The brokers are equally rated with four stars for their trading platforms and tools, yet Pepperstone ranks higher at #22 on ForexBrokers.com compared to TMGM's #48. Both offer practical features and tools for trading, but Pepperstone's additional offerings and higher ranking might give it a slight edge for those looking for a more comprehensive trading platform.
| Feature |
Pepperstone
|
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 | Yes | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 15 | 30 |
| Charting - Drawing Tools (Total) | 30 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 7 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Both Pepperstone and TMGM offer mobile trading apps compatible with iPhone and Android devices, making them accessible for traders on the go. Whether you want to keep tabs on stock or forex price changes, receive alerts, or maintain a watchlist with real-time quotes, both apps have you covered. Each provider also equips traders with 30 technical studies for charting and the necessary tools to draw trendlines or view various time frames, whether you’re scoping out daily, weekly, or intraday data. Notably, both apps ensure that any drawings you make on charts are automatically saved, so you won’t lose any work as you plan your next move.
Where Pepperstone pulls slightly ahead is in its synchronization capabilities. While both apps offer strong features and even ratings of 4 out of 5 stars, Pepperstone allows for watchlist symbol syncing between the mobile app and the online account, which TMGM currently does not. This added convenience might contribute to Pepperstone’s higher standing, as it ranks 21 out of 62 brokers in the Mobile Trading Apps category according to ForexBrokers.com, compared to TMGM’s ranking of 46. This difference in ranking could be a deciding factor if seamless connectivity across platforms is a priority for your trading needs.
| Feature |
Pepperstone
|
TMGM
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | 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.
Both Pepperstone and TMGM offer a wide range of features for market research, including daily market commentary and forex news from top-tier sources like Bloomberg and Reuters. Each broker has its own strengths; Pepperstone stands out with tools from Autochartist and a sentiment-based trading tool, while TMGM benefits from the analytical resources of Trading Central and Acuity Trading. Both platforms provide useful economic calendars to keep you informed of global news events.
When it comes to overall research quality, Pepperstone leads with a rating of 4.5 stars and is ranked 12th out of 62 brokers for research by ForexBrokers.com. Meanwhile, TMGM holds a 3.5-star rating and is ranked 53rd. This suggests that both brokers offer valuable market insights, though Pepperstone is generally regarded as providing a more comprehensive research experience according to external evaluations.
| Feature |
Pepperstone
|
TMGM
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | No |
| Trading Central (Recognia) | No | 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.
When it comes to educational resources for beginners, Pepperstone shines compared to TMGM. Pepperstone offers a comprehensive suite of educational materials, including over ten articles, videos, and webinars focused on forex and CFDs. They maintain an active schedule of online client webinars, providing these at least once a month, along with a searchable archive of recorded sessions. This ensures that users have continuous access to learning opportunities that cater to both novice and experienced traders. Furthermore, Pepperstone provides specific resources for beginners with more than ten videos dedicated to introductory trading topics, making it easy for newcomers to grasp essential concepts.
On the other hand, TMGM falls short in several areas of education for beginners. They lack the breadth of educational content that Pepperstone offers, providing neither an adequate number of resources on forex and CFDs, nor webinars for ongoing learning. TMGM does have a searchable archive of webinars and an investor dictionary similar to Pepperstone, but they miss out on offering beginner-specific video content and advanced trading materials. This comparative deficit in educational offerings is reflected in their ratings, with Pepperstone receiving 4.5 stars for education compared to TMGM's 3.5 stars. In the ForexBrokers.com ranking, Pepperstone stands at an impressive #18, while TMGM lags significantly at #54.
| Feature |
Pepperstone
|
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 Pepperstone is better than TMGM. Pepperstone finished with an overall rank of #16, while TMGM finished with an overall rank of #37.
Pepperstone offers a growing range of tradeable markets, good-quality research, and support for multiple social copy trading platforms.
| Feature |
Pepperstone
|
TMGM
|
|---|---|---|
| Overall Rating |
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| Trust Score | 95 | 83 |
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Both Pepperstone and TMGM do not offer the ability to buy actual (delivered) cryptocurrency, but they do provide options for trading cryptocurrency derivatives.
In comparing the online brokers Pepperstone and TMGM, Pepperstone offers more flexible deposit and withdrawal options, including ACH/SEPA transfers, PayPal, Skrill, Visa/Mastercard, and bank wires, whereas TMGM provides all the same options except for ACH/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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2 of 5| Overall Rating | Pepperstone | TMGM | |
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| Trust Score | 95 | 83 | |
| Winner | check_circle | ||
| Review | Pepperstone Review | TMGM Review |
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| Regulation | Pepperstone | TMGM | |
|---|---|---|---|
| Trust Score | 95 | 83 | |
| Year Founded | 2010 | 2013 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | No | |
| Tier-1 Licenses | 3 | 2 | |
| Tier-2 Licenses | 2 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 2 | 2 |
| Tier-1 Licenses (Highly Trusted) | Pepperstone | 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) | 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) | Pepperstone | TMGM | |
|---|---|---|---|
| Kenya (CMA Authorised) | Yes | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA/Central Bank Authorised) | Yes | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | Pepperstone | TMGM | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 1726 | 12000 | |
| Forex Pairs (Total) | 65 | 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 | Pepperstone | TMGM | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.00 | N/A | |
| All-in Cost EUR/USD - Active | 0.70 | N/A | |
| Active Trader or VIP Discounts | Yes | No | |
| Inactivity Fee | No | Yes | |
| Execution: Agency Broker | Yes | Yes | |
| Execution: Market Maker | Yes | Yes |
| Funding | Pepperstone | TMGM | |
|---|---|---|---|
| Minimum Deposit | $0 | $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 | Pepperstone | 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 | Yes | No | |
| ZuluTrade | No | No |
| Trading Tools | Pepperstone | TMGM | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 7 | 7 | |
| Charting - Indicators / Studies (Total) | 15 | 30 | |
| Charting - Drawing Tools (Total) | 30 | 15 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | Pepperstone | 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 | 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 | Pepperstone | TMGM | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | No | |
| Trading Central (Recognia) | No | Yes | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | Pepperstone | 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 | Pepperstone | 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 | Pepperstone Review | TMGM Review |
| Overall | Pepperstone | TMGM | |
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| Trust Score | 95 | 83 | |
| Winner | check_circle | ||
| Review | Pepperstone Review | TMGM Review |
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