Broker comparison between FP Markets vs TMGM
Do you want to figure out which is the better broker, fp-markets or tmgm?
In the following table, you can compare the features of fp-markets and tmgm side by side to determine the best fit for your trading needs.
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 fp-markets 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 fp-markets and tmgm are both reliable. We analyze the reasons as following:
Forex broker introduction
General Information & Regulation
FP Markets established in Australia in 2005. FP Markets is a group of companies which include First Prudential Markets Pty Ltd, an ASIC regulated provider of Derivatives and Forex trading services (ABN 16 112 600 281, AFS License No. 286354) and First Prudential Markets LTD is an entity authorized by the Cyprus Securities and Exchange Commission (CySEC), with Regultory License No. 371/18. FP Markets does not accept applications from residents of countries or jurisdictions where such distribution or use would be contrary to local laws or regulations.
FP Markets provides investors with a variety of mainstream and popular tradable instruments on the global financial market, including Forex trading (more than 70 currency pairs can be traded), Stocks trading (tradable stocks across four continents around the world, more than 10,000 stocks), Precious Metals trading, Commodity trading, indices CFD trading, and Cryptocurrency (multiple cryptocurrencies and cryptocurrencies for fiat currencies can be traded).
Two forex account types are available on FP Markets platform: the Standard and the Raw. Minimum deposit amount for both Standard and ECN accounts is acceptable 100$. Additionally, there are three IRESS account types that cover the need of those traders who prefer to use this particular software.
FP Markets Leverage
The maximum leverage of the major and minor currency pairs of this account is 1:500, major stock indices, commodities, and minor indices 1:100. The global stock leverage is 1:20, and the digital currency leverage is 1:5. The swap-free account is designed for traders who cannot pay or receive swaps or swap rates due to religious reasons.
FP Markets Spreads & Commissions
The lowest spread of the standard account in the forex account type is 1.0 pips, and no handling fee is charged. The minimum spread in the ECN account is 0.0 pips, and a handling fee of US$3.5 per trade is charged. The lowest spread of precious metals for standard accounts is 0.14 points, and the lowest spread for ECN accounts is 0.01 points. The lowest indices spread for standard accounts is 0.5 points, and the lowest index spread for ECN accounts is 0.5. The lowest spread of commodities for standard accounts and ECN accounts is 0.03. Both MT4 and IRESS Mobile versions are available for free, but the IRESS Trader/Viewpoint fee is $55 per month. Swap rates can also be considered as a cost. See the table below for the companys January 26 swap rates:
FP Markets Trading Platform
FP Markets provides the world's leading and popular MT4, MT5, MT4&MT5 WebTerminal, IRESS Viewpoint, IRESS Trader, and IRESS Investor. FP Markets' MT4 platform has advanced charts, massive technical indicators, accurate real-time quotes, real-time news and analysis, and a complete set of automated trading systems. FP Markets MT5 is a platform integrating forex, stocks, metals, CFD, and other tradings. With many technical analysis tools, excellent charting tools, foreign exchange signals, automatic trading systems, and copy trading functions, it has created more trading opportunities for modern traders. The MT4&MT5 web version makes trading highly flexible. Traders can trade directly through a computer web browser without downloading any software. The new and improved trader platform IRESS Viewpoint has advanced features to improve traders' trading experience. The new IRESS ViewPoint provides trading tools that are better compatible with various browsers. When traders login to the IRESS platform, they can choose IRESS Trader or IRESS ViewPoint. Traders can make full use of the advanced features of IRESS ViewPoint when trading opportunities arise, and data can be superimposed on each other to make the data fully visible.
Deposit & Withdrawal
FP Markets offers various deposit and withdrawal options for investors to choose from. These deposit and withdrawal methods include VISA/MASTERCARD credit card MT4/ MT5 (no charge for deposit and withdrawal, one working day for withdrawal), VISA/MASTERCARD credit card IRESS account (no charge for deposit and withdrawal, one working day for withdrawal), payment in Australia (supports Australian dollars, no handling fee for deposit and withdrawal, arrival time is one working day), international bank remittance (deposit 12.5 Australian dollars handling fee, withdrawal 25 US dollars handling fee), NETELLER (accepting AUD, CAD, CHF, EUR, GBP, JPY, NZD, SGD, USD, no handling fee for the deposit, 2% for withdrawal, up to 20 USD fee), Skrill (accepting EUR, USD, BGP, no fee for the deposit, 1% for withdrawal plus international fee), Paytrust88 (accepting MYR, IDR, THB, VND, no fee for the deposit, 1.5% fee for withdrawal, payment taking one working day), Ngan Luong (accepting VND, no handling fee for the deposit, charge for withdrawal 1000 VND + 1% fee).
From a customer support perspective, FP Markets delivers across the board. The multilingual customer support is available in twelve languages, 24/7. Clients may reach out via e-mail, live chat, phone, or the call-back option. A quality FAQ section answers many questions, and most traders may require additional assistance only during emergencies.
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.
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.
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.
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.
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).
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 fp-markets 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 fp-markets and tmgm are, we first considered common fees for standard accounts. On fp-markets, the average spread for the EUR/USD currency pair is From 0 pips, while on tmgm the spread is From 0.0.
Which broker is safer, fp-markets 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. fp-markets is regulated by ASIC,FMA,VFSC. tmgm is regulated by ASIC,CYSEC.
Which broker provides better trading platform, fp-markets 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. fp-markets Available trading platforms include Edge 、Classic , tradable financial instruments include Raw、Standard tmgm works/provides Edge 、Classic trading platform, trading instruments Raw、Standard