Written by ForexBrokers.com
In this head to head comparison of TMGM vs TopFX, 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 the online trading platforms TMGM and TopFX, it's important to consider their regulatory standings. TMGM, which started in 2013, and TopFX, founded in 2010, are both privately held companies that do not operate as banks. TMGM shines with two Tier-1 licenses, placing it in a highly trusted category according to ForexBrokers.com's standards. TopFX, on the other hand, holds a single Tier-1 license. Neither broker holds any Tier-2 licenses.
Trustworthiness can be further quantified using the ForexBrokers.com Trust Score, where TMGM earns a reliable score of 83, signifying a trusted status. TopFX, with a score of 67, is categorized as higher risk. These scores provide a quick gauge for potential clients assessing where to place their investments confidently.
| Feature |
TMGM
|
TopFX
|
|---|---|---|
| Year Founded | 2013 | 2010 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 2 | 1 |
| Tier-2 Licenses | 0 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 2 | 1 |
When comparing TMGM and TopFX, both online brokers offer competitive fee structures that cater to different trading needs. TMGM provides the Classic and Edge account types, with the Edge account featuring a low commission of $7 per round trip in addition to minimal spreads. This makes it an attractive option for traders who prefer transparent trading costs. However, specific data on average spreads for TMGM's EUR/USD was not available, which can pose a challenge for those looking for detailed cost assessments. ForexBrokers.com rates TMGM 4 out of 5 stars for commissions and fees, ranking it 35th out of 62 brokers.
TopFX's fee structure includes the ZERO and RAW account types. The RAW account charges a commission of 2.75 EUR per side, equating to 5.50 EUR per round trip, coupled with average EUR/USD spreads of 0.33 pips in July 2024. This results in a total trading cost of approximately 0.88 pips, aligning with industry standards. On the other hand, the ZERO account is commission-free but has higher spreads averaging 1.03 pips for EUR/USD. Like TMGM, TopFX also earns a 4-star rating for commissions and fees from ForexBrokers.com but ranks slightly lower at 40th out of 62 brokers.
Both TMGM and TopFX offer solid options for the cost-conscious trader, with each having its own strengths in either commission or spread considerations. TMGM stands out with its straightforward commission-based Edge account, while TopFX provides flexibility with its choice of account types. Ultimately, both brokers are well-rated but are ranked differently based on specific commission and fee structures, offering viable options depending on individual trader preferences.
| Feature |
TMGM
|
TopFX
|
|---|---|---|
| Minimum Deposit | $100 | Depends on payment method |
| Average Spread EUR/USD - Standard | N/A | 1.03 |
| All-in Cost EUR/USD - Active | N/A | 0.88 |
| Active Trader or VIP Discounts | No | 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.
In comparing the investment offerings of online brokers TMGM and TopFX, both provide opportunities for forex trading via CFDs or spot contracts. TMGM stands out with a noteworthy 12,000 tradeable symbols, including 62 tradeable forex pairs, edging out TopFX, which offers 655 tradeable symbols and 60 forex pairs. Despite this impressive variety, neither broker provides exchange-traded securities on U.S. or international exchanges. They both, however, support copy trading, allowing clients to mimic the trades of successful investors. For those interested in cryptocurrency, both TMGM and TopFX offer cryptocurrency derivatives, but not the ability to purchase actual cryptocurrencies.
When rated for their range of investments, TMGM earns a higher score of 4.5 out of 5 stars, compared to TopFX's 3.5 stars. This greater variety in investment options contributes to TMGM's higher ranking at #17, as opposed to TopFX's #46, as rated by ForexBrokers.com out of 62 brokers. This makes TMGM a more appealing choice for those looking for a broader array of trading opportunities in the forex and derivative markets.
| Feature |
TMGM
|
TopFX
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 12000 | 655 |
| Forex Pairs (Total) | 62 | 60 |
| 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.
TMGM and TopFX are both well-equipped to cater to traders seeking versatile trading platforms and tools. Each offers free virtual demo accounts, allowing new traders to practice without financial risk. While neither broker provides a proprietary platform, both support robust Windows-based desktop and web-based platforms. Traders used to MetaTrader will find TMGM supports both MT4 and MT5, while TopFX only supports MT4. Both brokers facilitate copy trading, providing opportunities for sharing and following trading strategies.
Charting enthusiasts will appreciate the 15 drawing tools offered by both TMGM and TopFX, in addition to the ability to trade directly from stock charts. Watch lists are enhanced with seven different columns for customization at both brokers. Despite their similarities, TopFX slightly edges out TMGM in ranking by ForexBrokers.com, standing at #44 compared to TMGM's #48. However, both share an equal rating of 4 stars for their trading platforms and tools, making them comparable choices for traders seeking effective trading solutions.
| Feature |
TMGM
|
TopFX
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | No | 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 | No |
| 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.
When comparing the mobile trading apps of TMGM and TopFX, both platforms offer options for iPhone and Android users. Each app provides essential features such as stock and forex price alerts, the ability to draw trendlines on charts, and access to multiple time frames like daily, weekly, or intraday views to support flexible trading strategies. Additionally, both TMGM and TopFX allow users to create watchlists with real-time quotes. However, neither app supports the syncing of watchlist symbols between the mobile app and the client’s online account, meaning changes must be updated manually across devices.
In terms of charting capabilities, both TMGM and TopFX offer 30 technical studies, ensuring traders have a range of tools for analysis. Both platforms also auto-save chart drawings, removing the hassle of having to redo annotations. While TMGM and TopFX receive the same rating of four out of five stars for their mobile trading apps, TMGM slightly edges out with a rank of 46 out of 62 brokers on ForexBrokers.com, compared to TopFX's rank of 51. This ranking difference may influence users seeking nuances in performance between the two apps for their trading needs.
| Feature |
TMGM
|
TopFX
|
|---|---|---|
| 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 comparing the market research offerings of online brokers TMGM and TopFX, several distinctions emerge. TMGM provides daily market commentary, giving users up-to-date insights, a feature that TopFX does not offer. Both brokers deliver forex news from reputable sources like Bloomberg and Reuters, ensuring traders have access to high-quality updates. TopFX shines with tools from Autochartist, aiding traders in technical analysis and research, whereas TMGM does not offer this. However, TMGM compensates with research tools from Acuity Trading, which are not available through TopFX. Both brokers supply resources from Trading Central and offer sentiment-based trading tools, along with comprehensive economic calendars to track significant global events.
In terms of market research quality, TMGM is rated at 3.5 stars, slightly above TopFX with 3 stars. This small difference reflects a broader trend, as TMGM ranks #53 and TopFX sits at #59 out of 62 brokers in the research category according to ForexBrokers.com. This suggests that while both brokers offer substantial resources, TMGM edges out with more diverse offerings like the daily commentary and Acuity Trading tools, making it a more attractive option for traders seeking extensive market insights.
| Feature |
TMGM
|
TopFX
|
|---|---|---|
| Daily Market Commentary | Yes | No |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | No | Yes |
| Trading Central (Recognia) | Yes | Yes |
| Social Sentiment - Currency Pairs | Yes | Yes |
| TipRanks | No | No |
| Signal Centre (Acuity Trading) | Yes | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When comparing TMGM and TopFX in terms of educational resources for beginners, both online brokers fall short in offering extensive educational materials on forex and CFDs. Neither broker provides the minimum of 10 educational pieces such as articles, videos, or webinars focusing primarily on these areas. Similarly, both TMGM and TopFX do not offer regular live educational webinars to assist clients in building their trading knowledge. However, TMGM does provide access to a searchable archive of past client webinars, whereas TopFX lacks this feature.
In exploring further educational offerings, neither TMGM nor TopFX deliver a substantial collection of beginner-focused or advanced trading videos. One area where TMGM does stand out is its investor dictionary, providing definitions for at least 50 investing terms, something TopFX does not offer. In ratings, TMGM scores slightly higher with 3.5 stars compared to TopFX's 3 stars for educational resources. According to ForexBrokers.com, TMGM is ranked at #54 and TopFX at #60 out of 62 brokers for education, highlighting some room for improvement for both brokers in expanding their educational support for beginners.
| Feature |
TMGM
|
TopFX
|
|---|---|---|
| Education (Forex or CFDs) | No | No |
| Client Webinars | No | No |
| Client Webinars (Archived) | Yes | No |
| Videos - Beginner Trading Videos | No | No |
| Videos - Advanced Trading Videos | No | No |
| Investor Dictionary (Glossary) | Yes | No |
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 TopFX. TMGM finished with an overall rank of #37, while TopFX finished with an overall rank of #61.
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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TopFX
|
|---|---|---|
| Overall Rating |
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| Trust Score | 83 | 67 |
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Both TMGM and TopFX do not offer the ability to buy actual delivered cryptocurrency, but they do provide options to trade cryptocurrency derivatives.
Both TMGM and TopFX provide multiple options for depositing and withdrawing account funds, including PayPal, Skrill, Visa, Mastercard, and bank wires, but do not offer ACH or SEPA transfers as 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 | TMGM | TopFX | |
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| Trust Score | 83 | 67 | |
| Winner | check_circle | ||
| Review | TMGM Review | TopFX Review |
| Broker Screenshots | TMGM | TopFX | |
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| Regulation | TMGM | TopFX | |
|---|---|---|---|
| Trust Score | 83 | 67 | |
| Year Founded | 2013 | 2010 | |
| 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 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 2 | 1 |
| Tier-1 Licenses (Highly Trusted) | TMGM | TopFX | |
|---|---|---|---|
| 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 | TopFX | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA/Central Bank Authorised) | No | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | TMGM | TopFX | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 12000 | 655 | |
| Forex Pairs (Total) | 62 | 60 | |
| 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 | TMGM | TopFX | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | N/A | 1.03 | |
| All-in Cost EUR/USD - Active | N/A | 0.88 | |
| Active Trader or VIP Discounts | No | No | |
| Inactivity Fee | Yes | No | |
| Execution: Agency Broker | Yes | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | TMGM | TopFX | |
|---|---|---|---|
| Minimum Deposit | $100 | Depends on payment method | |
| 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 | TMGM | TopFX | |
|---|---|---|---|
| Proprietary Platform | No | 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 | No | |
| cTrader | No | Yes | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | TMGM | TopFX | |
|---|---|---|---|
| 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 | TopFX | |
|---|---|---|---|
| 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 | TopFX | |
|---|---|---|---|
| Daily Market Commentary | Yes | No | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | No | Yes | |
| Trading Central (Recognia) | Yes | Yes | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | TMGM | TopFX | |
|---|---|---|---|
| Education (Forex or CFDs) | No | No | |
| Client Webinars | No | No | |
| Client Webinars (Archived) | Yes | No | |
| Videos - Beginner Trading Videos | No | No | |
| Videos - Advanced Trading Videos | No | No | |
| Investor Dictionary (Glossary) | Yes | No |
| Major Forex Pairs | TMGM | TopFX | |
|---|---|---|---|
| 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 | TopFX Review |
| Overall | TMGM | TopFX | |
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| Trust Score | 83 | 67 | |
| Winner | check_circle | ||
| Review | TMGM Review | TopFX Review |
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