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Broker comparison between FOREX.com vs TMGM
Do you want to figure out which is the better broker, forex-com or tmgm?
In the following table, you can compare the features of forex-com and tmgm side by side to determine the best fit for your trading needs.
Wikifx rating
Basic Information
Benchmark
Account
Which broker is more reliable?
You can determine the reliability and credibility of a broker by checking four factors:
1.Forex broker introduction.
2.Does forex-com or tmgm have a lower transaction costs and fees?
3.Which broker is safer?
4.Which broker provides better trading platform?
Based on these four factors, we believe that forex-com and tmgm are both reliable. We analyze the reasons as following:
Forex broker introduction
forex-com
General Information & Regulation
FOREX.com is the leading global retail online trading brand of Gain Capital, owned by NASDAQ-listed StoneX Group Inc. Founded in 1999, this company has developed into a global leader in online trading and operates through its regulated subsidiaries in seven major financial jurisdictions around the world, including the Financial Conduct Authority (FCA), the Commodity Futures Commission (CFTC), the American National Futures Association (NFA), the Australian Securities and Investments Commission (ASIC), and the Japan Financial Services Authority (FSA). Financial Services Authority (FSA), Monetary Authority of Singapore (MAS), and Cayman Islands Monetary Authority (CIMA). The company is currently regulated by two of the world's leading primary regulators, with credible security.
Market Instruments
The highly competitive quotes and quality trade execution of the Karson trading platform allow investors to trade over 180 products, more than 80 foreign exchange, 220 stocks, crude oil, commodities, gold, silver, stock indices, and other trading products. Popular OTC products are also offered including Gold/USD, EUR/USD, GBP/USD, CNH, Crude Oil Futures, Tesla, Alibaba, Tencent, Hong Kong Hang Seng Index, and Wall Street Dow Jones Index.
Minimum Deposit
FOREX.com's account types include MT4 accounts, MT5 accounts, and this company's exclusive accounts. The minimum deposit to open an account is $100, and this broker advises to have at least 1000 units of traders' account currecy.
FOREX.com Leverage
The default leverage for MT4 and MT5 accounts is 1:200, with 50, 100, and 400 times' leverage available. The default leverage for the company's exclusive accounts is 1:200, and the leverage of 1:400 is also available.
Spreads & Commissions
There are no commissions for Forex tradings, and the company only charges spreads. The main spreads for Forex products are 1.5 pips for EUR/USD, 1.6pips for GBP/USD, and 1.5 for AUD/USD, with spreads as low as 0.035 for gold and 0.35 for silver. The lowest spread for commodity futures (crude oil) is 0.04 pips, and the lowest spread for spot commodities is about 1.5 pips off the market price. The lowest spread for OTC stock indices trading is 1 pip, and the lowest spread for OTC stock trading is also 1 pip. SWAPs are calculated based on 10,000 positions and are denominated in U.S. dollars. SWAPs are executed at 5:00 p.m. EST and any positions held at that time are included in the SWAP calculation.
Trading Platform Applied
Karson Group offers investors the world's most advanced and popularly-used MT4 and MT5 platforms, as well as FOREX.com's exclusive trading platforms. The exclusive trading platform offers powerful tools for sophisticated traders who require sophisticated trading functionality and analytical tools, including powerful charting tools, a wide range of technical indicators, various charting tools, advanced analytical tools, and support for desktop, web, and mobile versions. FOREX.com's Metatrader platform is optimized to support all Expert Advisors (EA). Easily integrate traders' EAs into the company's platform and be free from third-party transitions or automatic synchronization.
Deposit & Withdrawal
This company welcomes deposit and withdrawal by the method of bank wire and credit card/ debit card. There are no fees for credit/debit card withdrawals, while wire transfers in USD may be subject to some bank charges. The company will process the withdrawal request within two business days and credit the client's receiving bank, depending on the bank's processing speed.
tmgm
General Information
Founded in 2013, TMGM, or Trademax Global Markets, is an Australia-based global forex broker, committed to create a transparrent and fair trading environment for its clients. TMGM provide clients access to sophisticated MetaTrader 4, MetaTrader 5, Iress and HubX trading platforms for trading multiple tradable assets, such as CFDs on forex currency pairs, commodities, indices, metals, energies, cryptocurrency and shares.
Regulation
TMGM has three entities regulated in their own jurisdictions:
TRADEMAX Australia Limited is regulated by the Australia Securities and Exchange Commission (ASIC), Regulation License No. 436416, TRADEMAX Global Markets (NZ) Limited authorized and regulated by the Financial Markets Authority (FMA), Regulatory License No. 568807, and Trademax Global Limited is regulated and licensed by the Vanuatu Financial Services Commisson (VFSA) offshore, with Regulatory License No. 40356.
Market Instruments
TMGM provides a wide range of popular financial tradable instruments for global investors, including forex (over 60 currency pairs), stocks, precious metals (gold, silver, platinum), energies (crude oil, natural gas), virtual currencies, and stock indices.
Minimum Deposit
To satisfy different traders' trading needs and experience, TMGM provides two different accounts: the Classic and the Edge account. Both accounts require a minimum deposit of $100, quite resonable for most regular traders to get started.
TMGM Leverage
As a typical Australia broker, TMGM offers quite high trading leverage, and leverage depends on instruments. Forex products trading can use the leverage of up to 1:400, indices and energy with the leverage of 1:100, precious metals featuring 400x leverage.
Spreads & Commissions
The spreads on Classic accounts start at 1.0 pips, with no commission is charged, while the spreads on Edge accounts start at 0.0 pips, and a commission of $7 (round turn) is charged per lot.
TMGM Trading Platforms
TMGM provides users with industry-leading MT4, MT5, and IRESS Viewpoint trading software. MT4 trading software is suitable for retail traders and algorithmic traders and supports mobile, tablet PC, desktop, and web terminal. MT5 has two latest pending order methods, which allow users to set pending orders better and provides up to 21 kinds of time charts so that traders can grasp market quotes in many aspects. IRESS Viewpoint is a new generation of the web-based trading platform, available for all browsers, with advanced charting features and a unique modular structure.
Deposit & Withdrawal
TMGM provides users with a variety of convenient and efficient deposit and withdrawal channels. The major payment methods include VISA/MASTERCARD (minimum deposit and withdrawal of USD 100, supporting USD, EUR, GBP, AUD and NZD, no handling fee), wire transfer (minimum deposit of USD 100, supporting USD, EUR, GBP, AUD and NZD, the personal bank will charge fees when withdrawing funds), and NETELLER/ Skrill (instantly, a minimum deposit of $100, support EUR, USD, GBP, AUD, no commission), Union Pay & Alipay (instantly, support EUR, USD, EUR, GBP, NZD, no commission), FasaPay (one business day, a minimum deposit of $100, support USD, EUR and GBP). STICPAY (instantly, supports EUR, USD, GBP, AUD, NZD, no commission), Broker Transfer (3 business days, a minimum deposit of $100, supports USD, EUR, GBP, AUD, NZD, no commission).
Customer Sopport
TMGM's customer support team can be reached via telephone, email and online chat. There is also a frequently asked questions (FAQ) section on the broker's website, which gives detailed answers to some traders common questions. Support is available in English, Vietnamese, Thai, Spanish, Portuguese, Italian, Arabic and Chinese.
Does forex-com or tmgm have a lower transaction costs and fees?
To compare transaction costs across different brokers, our experts analyze the transaction-specific fees (such as spreads) and non-trading fees (such as inactivity fees and payment costs).
To get a comprehensive understanding of how cheap or expensive forex-com and tmgm are, we first considered common fees for standard accounts. On forex-com, the average spread for the EUR/USD currency pair is From 0 pips, while on tmgm the spread is Depends on the trading commodity.
Which broker is safer, forex-com or tmgm?
To determine the safety of a forex brokers, our experts take various factors into consideration in a multi-dimensional manner. This includes which regulatory licenses the forex trader holds and how reputable those licenses are. We also consider the history of a forex dealer, as long-standing dealers are usually more reliable and trustworthy than newer start-ups. forex-com is regulated by ASIC,FMA,VFSC. tmgm is regulated by ASIC,FCA,FSA,NFA,IIROC,CIMA,MAS.
Which broker provides better trading platform, forex-com or tmgm?
When our experts review a broker, they usually open real trading accounts and trade through the broker's trading platform. This gives us a better overall assessment of the quality of the platform, the ease of use and the features it offers. forex-com Available trading platforms include Edge 、Classic , tradable financial instruments include Standard account tmgm works/provides Edge 、Classic trading platform, trading instruments Standard account
