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 on their commissions and fees, both brokers offer competitive options for traders. TMGM provides two account types: the Classic account, which operates on a spread-only basis, and the Edge account, which charges a small commission of $3.50 per side ($7 per round trip) plus low spreads. Although specific data on average spreads for the EUR/USD pair is not available for TMGM, it is worth noting that their practice of not providing average spread data might limit detailed cost analysis. TMGM secures a 4-star rating and is ranked at #36 out of 62 brokers in the Commissions and Fees category by ForexBrokers.com.
TopFX offers two distinct accounts as well – the spread-only ZERO account, and the RAW account, which is commission-based. The RAW account charges a commission of 2.75 EUR per side (5.50 EUR per round trip) with average spreads for EUR/USD at 0.33 pips, making the total cost around 0.88 pips, aligning with the industry average. While the ZERO account is devoid of commissions, it comes with a higher average spread of 1.03 pips for the EUR/USD in July 2024. Like TMGM, TopFX also receives a 4-star rating for commissions and fees, however, it is slightly lower ranked at #40 out of 62 brokers by ForexBrokers.com.
In summary, both TMGM and TopFX present competitive commission and fee structures that cater to different trader preferences through their respective account options. While TopFX offers greater clarity with average spread data, both brokers maintain similar all-in costs. Traders looking for low-cost trading must weigh the importance of available average spread data and their specific trading needs when choosing between these two brokers.
| 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.
Both TMGM and TopFX provide traders with essential trading platforms and tools commonly needed in online trading activities. Each broker offers a free virtual demo account, allowing users to practice and hone their skills before committing real funds. Though neither broker provides a proprietary platform, traders can access familiar and widely used platforms such as MetaTrader 4 (MT4) on both TMGM and TopFX. TMGM further extends its offerings with MetaTrader 5 (MT5), which TopFX does not support. Additionally, both brokers support trading via Windows-based desktop downloads and web-based platforms, ensuring flexibility and accessibility for traders across various devices.
When it comes to features, TMGM and TopFX are aligned in offering copy trading and letting traders execute trades directly from stock charts. The platforms of both brokers include charting capabilities with 15 drawing tools, though they do not specify the number of technical indicators available. Watchlists on both platforms come equipped with seven customizable columns, ensuring traders can closely monitor their assets. Despite these similarities, TopFX slightly edges out TMGM in ranking for Trading Platforms and Tools on ForexBrokers.com, coming in at #45 compared to TMGM's #48, although both share a commendable four-star rating out of five.
| 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.
Both TMGM and TopFX provide mobile trading apps available on iPhone and Android, allowing users to stay connected with the markets anytime, anywhere. Each app supports stock and forex price alerts, enabling traders to remain informed about market movements. However, neither platform offers watchlist symbol syncing, meaning changes made on the mobile app won't automatically reflect in the client's online account. For charting, both TMGM and TopFX include 30 technical studies and the ability to draw trendlines and view multiple time frames, such as daily, weekly, or intraday, enhancing the user experience. Importantly, both apps automatically save drawings on charts, preventing loss of analysis. Additionally, users can create watchlists with real-time quotes, ensuring they have current market data at their fingertips.
When it comes to ratings, TMGM and TopFX each earn four stars for their mobile trading apps, demonstrating strong overall satisfaction among users. However, TMGM ranks slightly higher in the Mobile Trading Apps category, securing the #47 spot out of 62 brokers as per ForexBrokers.com, compared to TopFX's #51 ranking. Despite their ranking positions, both brokers offer comprehensive mobile trading features, making them suitable choices for active traders seeking reliable and accessible market tools.
| 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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