FXCM vs TMGM 2024

Trust Score is a data-driven rating system that provides an at-a-glance rating of a broker’s overall trust by tracking 60+ brokers and over 100 regulatory jurisdictions across the globe. To make things clearer for everyday traders, we’ve created a five-tier system for regulators and Trust Score rating labels. Learn more about Trust Score, and check out our country guides to see the most trusted brokers in your country of residence.

FXCM has a Trust Score of 95, giving it a "Highly Trusted" Trust Score Label.

TMGM has a Trust Score of 83, giving it a "Trusted" Trust Score Label.

Founded in 1999, FXCM (a Jefferies Group company) is a long-standing brand that caters to global forex and CFD traders. FXCM offers multiple trading platforms for algorithmic trading and social copy trading, along with a proprietary platform suite (and access to MetaTrader 4). FXCM is also a great option for beginners due to its wide range of educational materials and easy-to-use platforms (including integration with the popular TradingView platform). Though the range of markets available at FXCM has increased following the addition of its share trading feature, it's worth noting that pricing at FXCM is just average.

TMGM is a trusted forex broker with multiple regulatory licenses and a well-rounded offering. TMGM doesn't offer any proprietary platforms, but traders gain access to MetaTrader 4 for desktop and mobile (albeit without any notable add-ons or plug-ins). Where TMGM really shines is its forex trader education; the broker's TMGM Academy won the 2023 Annual Award for #1 Educational Course at our sister site, ForexBrokers.com.

Tier-1 is reserved for the strictest, most stringent regulatory jurisdictions in the world. Tier-1 regulators impose additional capital requirements and require a tougher initial screening process. FXCM holds regulatory licenses in the following Tier-1 jurisdictions: Australia (ASIC Authorised), Canada (CIRO Authorised) and United Kingdom (U.K.) (FCA Authorised). TMGM, on the other hand, is licensed in these Tier-1 regulatory jurisdictions: Australia (ASIC Authorised) and New Zealand (FMA Authorised). Neither have Hong Kong (SFC Authorised), CBI Authorised (Ireland), Japan (SFC Authorised), Singapore (MAS Authorised), Switzerland (FINMA Authorised) and USA (CFTC Authorized)

Tier-2 and tier-3 licenses are still important in evaluating the overall trustworthiness of forex brokers. As far as tier-2 licenses go, FXCM is Cyprus (CySEC Authorised), Israel (ISA Authorised) and South Africa (FSCA Authorised), while TMGM is none.. Neither have China (CBRC Authorised), India (SEBI Authorised), Russia (CBR Authorised), Thailand (SEC Authorised) and UAE (DFSA/Central Bank Authorised). When comparing tier-3 licenses FXCM is none, while TMGM is Mauritius (FSC Authorised) and Vanuatu (VFSC Authorised).. Neither have Bahamas (SCB Authorised), Belize (FSC Authorised), Bermuda (BMA Authorised), British Virgin Islands (FSC Authorised) and Cayman Islands (CIMA Authorised).

Whether your broker develops its own proprietary platforms or provides access to popular third-party platforms, you should make sure you can use your preferred type of trading platform. In our testing, we found that FXCM offers a Proprietary Platform, Desktop Platform (Windows) and ZuluTrade, whereas TMGM supports a Desktop Platform (Windows). Neither have cTrader and DupliTrade

For MetaTrader FXCM provides MetaTrader 4 (MT4), while TMGM provides MetaTrader 4 (MT4) and MetaTrader 5 (MT5). If MetaTrader is a must for you, read our guides on the best MT4 brokers or best MT5 brokers.

FXCM requires a minimum deposit of Starts from $50, while TMGM requires a minimum deposit of $100. You'll also want to make sure that your broker accepts the funding options and deposit methods that work best for you. In our testing, we've found that both FXCM and TMGM offer Bank Wire (Deposit/Withdraw), Visa/Mastercard (Credit/Debit), PayPal (Deposit/Withdraw) and Skrill (Deposit/Withdraw) for deposits

When choosing a forex broker, it’s important to consider each broker’s available investment products and tradeable asset classes. We’ve researched each broker’s individual offering of investments to help you pick the right broker for what you want to trade. During our testing, we found that FXCM delivers a more diverse selection of investment options than TMGM, offering tradeable asset classes and investment types such as Forex Trading (Spot or CFDs), Spread Betting, Social Trading / Copy Trading, Metals, Energies, Agriculturals and U.S. Stocks (CFD). Neither have ETF.

We also keep track of each broker’s total number of tradeable symbols; FXCM offers 440, and TMGM offers a total of 12000 tradeable symbols.

Crypto trading has become popular among forex traders across a range of international jurisdictions. As a result, many forex brokers now offer crypto products to their clients; most crypto assets are offered either as an underlying physical asset (such as when you own actual bitcoin assets, for example) or as a derivative product like a CFD. If you are looking to trade physical cryptocurrencies, you’ll find that neither FXCM nor TMGM allow you to trade physical cryptocurrencies.

The best forex brokers arm their clients with a variety of research tools and resources. Market research plays a huge role in any forex trader’s ability to conduct analysis within the global forex market. In our testing, we discovered that both FXCM and TMGM offer the same suite of research tools and resources. Here’s a comprehensive list of the tools provided by both brokers: Daily Market Commentary, Stock Charts, Forex News (Top-Tier Sources), Trading Central (Recognia) and Social Trading / Copy Trading.. Neither have Autochartist

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