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Do you want to know which is the better broker between Octa and TMGM ?
In the table below, you can compare the features of Octa , TMGM side by side to determine the best fit for your needs.
EURUSD: -0.1
XAUUSD: 0.4
Long: -6.15
Short: 2.22
Long: -35.76
Short: 22.15
You can determine the reliability and credibility of a broker by checking four factors:
1.Forex broker introduction。
2.Are the transaction costs and expenses of octafx, tmgm lower?
3.Which broker is safer?
4.Which broker provides better trading platform?
Based on these four factors, we can compare which is reliable. We have broken down the reasons as follows:
Note: It is important to note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies. In addition, the date on which this review was generated may also be an important factor to consider, as information may have changed since then. Therefore, readers are advised to always verify updated information directly with the company before making any decision or taking any action. Responsibility for the use of the information provided in this review rests solely with the reader.
In this review, if there is a conflict between the image and the text content, the text content should prevail. However, we recommend that you open the official website for further consultation.
Registered in | Cyprus |
Regulated by | CYSEC |
Years of Establishment | 5-10 years |
Trading Instruments | 28 Currency pairs, 2 metals, 2 energies,10 indices |
Minimum Initial Deposit | 100 euro |
Maximum Leverage | 1:30 |
EUR/USD Spread | 0.4-0.5 pips |
Trading Platform | MetaTrader 5 |
Deposit & Withdrawal Method | VISA, skrill, Swissquote Bank SA, Rietumu Bank, BlueOrange Bank |
Customer Service | Email, address, live chat |
Fraud Complaints Exposure | Yes |
Negative Balance Protection | Yes |
OctaFX is a Cyprus-based forex broker regulated by the CYSEC. The company offers trading in 28 currency pairs, 2 metals, 2 energies, and 10 indices with a maximum leverage of up to 1:30. OctaFX has only one MetaTrader 5 account type with zero commission and a minimum deposit requirement of 100 euros. Deposits and withdrawals are feasible through a variety of payment methods, with no extra fees charged by OctaFX. Customer support is available through email and live chat, and the broker's correspondence address is in Limassol, Cyprus.
In the following article, we will analyse the characteristics of this broker in all its dimensions, providing you with easy and well-organised information. If you are interested, read on.
OctaFX is a Market Making (MM) broker, which means that it acts as a counterparty to its clients in trading operations. That is, instead of connecting directly to the market, OctaFX acts as an intermediary and takes the opposite position to its clients. As such, it can offer faster order execution speed, tighter spreads and greater flexibility in terms of the leverage offered.
However, this also means that OctaFX has a certain conflict of interest with their clients, as their profits come from the difference between the bid and ask price of assets, which could lead to them making decisions that are not necessarily in the best interests of their clients. It is important for traders to be aware of this dynamic when trading with OctaFX or any other MM broker.
Wide range of trading instruments available, including 28 currency pairs, 2 metals, 2 energies, and 10 indices.
Competitive spreads, starting from as low as 0.3 pips, with zero commission charges.
Convenient and feasible payment methods, with no extra fees charged by the company.
MetaTrader 5 platform available for trading, with a user-friendly interface and a variety of features.
Back office support available from 9:00 to 18:00 EET Monday to Friday, and live chat service also provided for customers.
Regulated by the CYSEC, ensuring a high level of safety and security for clients' funds.
Straightforward and detailed website, making it easy for clients to navigate and find the information they need.
Limited educational resources, with only a few calculators available.
No other account types are offered besides the MetaTrader 5 account.
Maximum leverage is relatively low, only up to 1:30.
Limited customer support options, with only email and live chat available.
No physical office or phone support available, which may be inconvenient for some clients.
Limited bonuses or promotions offered compared to other brokers.
No mobile app available for trading, which may be a disadvantage for clients who prefer to trade on-the-go.
OctaFX offers a diverse range of instruments for traders to choose from, including 28 currency pairs, 2 metals, 2 energies, and 10 indices. Traders can access major currency pairs such as EUR/USD and USD/JPY, as well as less commonly traded pairs like USD/TRY and USD/HKD. In addition, OctaFX offers trading in gold and silver, as well as energies such as Brent crude oil and natural gas. Traders can also access indices such as the FTSE 100 and the Nikkei 225. However, OctaFX's instrument selection does have some limitations, such as a limited selection of cryptocurrencies and no individual stock trading available. Overall, the range of instruments offered by OctaFX is competitive, with a strong focus on forex trading.
OctaFX offers a commission-free trading model with a single account type, which can be an advantage for traders who prefer simplicity and transparency. The broker offers competitive spreads for major currency pairs, with spreads for EURUSD ranging from 0.4 to 0.5 pips. In addition, OctaFX provides detailed information on spreads, SWAPs, and stop levels for each trading instrument, which can help traders make informed decisions. Overall, the costs and fees of OctaFX are relatively low, and the broker provides transparency and clarity in its pricing structure.
Regarding the account types dimension, OctaFX offers a single account type using the popular MetaTrader 5 trading platform. This simplicity may appeal to traders looking for an uncomplicated trading experience. Additionally, the absence of commissions and competitive spreads starting from 0.3 pips may result in more cost-effective trading for clients.
However, the single account type may not be ideal for traders looking for more customization, and some may prefer higher minimum deposit requirements for increased credibility and access to additional features.
Advantages | Disadvantages |
Advanced Trading Tools | May be overwhelming for beginner traders |
Flexible Trading Options | No mobile or web-based platforms available |
Customizable Interface | Limited access to third-party plugins and add-ons |
Supports Automated Trading | Limited educational resources for platform-specific features |
Access to Market Depth Information | Limited charting tools and technical indicators |
OctaFX offers the popular MetaTrader 5 (MT5) platform as their sole trading platform. MetaTrader 5 is well-known in the forex industry for its advanced trading tools, customizable interface, and support for automated trading. With MetaTrader 5, traders can access flexible trading options, including access to market depth information, as well as a wide range of trading instruments.
However, the platform may be overwhelming for beginner traders and it currently lacks mobile or web-based platforms. Additionally, while MetaTrader 5 does offer some charting tools and technical indicators, it may be limited compared to other trading platforms. Finally, there is also a limited number of third-party plugins and add-ons available for the platform, and there are limited educational resources for platform-specific features.
OctaFX offers a maximum leverage of 1:30, which can provide traders with the opportunity to potentially increase profits with smaller account balances and take larger positions in the market. However, it is important to note that high leverage can also significantly increase the risk of large losses, especially for inexperienced traders who may be more susceptible to overleveraging and margin calls. It is crucial for traders to use leverage wisely and implement proper risk management strategies to mitigate these risks. Additionally, not all trading instruments or account types may offer the maximum leverage, so traders should be aware of the limitations and requirements for each instrument and account type.
Advantages | Disadvantages |
Various payment methods available | Limited payment options |
Detailed information on deposit and withdrawal | No local payment options |
No extra fees charged | Long processing times for some payment methods |
Quick and efficient processing times | High minimum deposit amount of €50 |
Secure payment options | No cryptocurrency payment options |
OctaFX provides a wide range of payment methods, making it convenient for traders to deposit and withdraw funds. They also provide detailed information on the deposit and withdrawal process, which makes it easy for traders to understand the process. Another advantage is that there are no extra fees charged by OctaFX for any payment method. Additionally, the processing times are quick and efficient. However, the payment options are limited, with no local payment options available. Some payment methods may also have long processing times. The minimum deposit amount of €50 is also relatively high compared to some other brokers. Finally, OctaFX doesn't accept cryptocurrency payments, which might be a disadvantage for some traders.
Advantages | Disadvantages |
Basic calculators | Limited educational resources |
Easy to use | No webinars or tutorials available |
Helpful for beginners | No market analysis or trading ideas provided |
OctaFX has a limited selection of educational resources available for its customers, with only basic calculators provided to help with trading. While these tools may be helpful for beginners, the lack of other educational resources such as webinars, tutorials, market analysis, and trading ideas may make it challenging for more experienced traders to improve their skills and stay up-to-date with market trends. The absence of educational articles or eBooks may also be a disadvantage for traders looking to expand their knowledge and gain a deeper understanding of the market. Overall, OctaFX's educational resources are limited and may not be suitable for traders seeking a more comprehensive learning experience.
However, if you're not limited to their website, you can see more educational resources on their official YouTube channel. Here is a video of a market analysis.
Advantages | Disadvantages |
Multiple ways to contact customer support including email and live chat | No 24/7 customer support |
Back office service available during regular business hours | No phone support |
Physical correspondence address provided for customer inquiries | Limited availability on weekends |
OctaFX provides a range of customer care options for its clients, including email support and live chat. They also offer a back office service during regular business hours for additional assistance. A physical correspondence address is also provided for clients to send inquiries. However, OctaFX does not offer 24/7 customer support and phone support is not available. Additionally, their customer support availability is limited on weekends.
In conclusion, OctaFX is a reputable forex broker that provides traders with access to a wide range of trading instruments, including currency pairs, metals, energies, and indices. The company offers a user-friendly MetaTrader 5 platform, low spreads, and no commissions, which makes it an attractive choice for traders. OctaFX also provides a detailed deposit and withdrawal process with a range of feasible payment methods. However, the company's educational resources are limited, and the maximum leverage offered is relatively low compared to some other brokers. Overall, OctaFX is a reliable option for traders who value a simple and straightforward trading experience.
Question: What trading platforms does OctaFX offer?
Answer: MetaTrader 5s.
Question: What instruments can I trade with OctaFX?
Answer: 28 currency pairs, 2 metals, 2 energies, and 10 indices.
Question: Does OctaFX charge any commissions?
Answer: No, OctaFX does not charge any commissions on trades.
Question: What is the minimum deposit required to open an account with OctaFX?
Answer: 100 euro.
Question: What payment methods are available for deposits and withdrawals?
Answer: OctaFX accepts VISA, Skrill, Swissquote Bank SA, Rietumu Bank, and BlueOrange Bank.
TMGM appears to a respected forex broker, presenting access to more than 12,000 spanning forex, CFDs, and cryptocurrencies. Traders can enjoy competitive spreads across various instruments, exemplified by the EUR/USD currency pair with an average spread of around 0.1 pips. Besides, TMGM extends a diverse set of trading platforms, notably including MetaTrader 4 and IRESS. Morever, TMGM enriches the trading journey with rich educational resources and trading tools. Lastly, 24/7 multilingual customer support stands ready. However, the question remains: Does TMGM truly live up to its claims?Let's explore more.
TMGM Review Summary in 10 Points | |
Founded | 2013 |
Headquarters | Sydney, Australia |
Regulation | ASIC, FMA, VFSC (Offshore) |
Market Instruments | forex, indices, shares, futures, precious metals, energies and cryptocurrencies |
Demo Account | Available |
Leverage | 1:500 |
EUR/USD Spread | 1.0 pips |
Trading Platforms | MT4, MT5 (coming soon), IRESS |
Minimum deposit | $100 |
Customer Support | Live chat, phone, email |
Founded in 2013 and headquartered in Sydney, Australia, TMGM is an online ECN/STP broker. Notably, in 2016, TMGM introduced its MetaTrader 5 platform. Subsequently, the company achieved FCA membership in the UK during 2017. The year 2019 witnessed the launch of TMGM's mobile trading app, further enhancing accessibility. By 2021, TMGM's reach expanded to encompass over 200 countries worldwide.
Offering a diverse array of more than 12,000 trading instruments spanning forex, commodities, cryptocurrencies, and stocks, TMGM caters to traders through popular platforms including MetaTrader 4 (MT4) and Iress.
TMGM has some strong points: solid regulation, competitive costs, lots of assets, and top-notch support. But there are a couple of downsides, like inactivity fees and no MT5 yet.
Pros | Cons |
• ASIC and FMA regulation | • No US clients accepted |
• Competitive spreads and low commissions | • Inactivity fees applied |
• Over 12000 trading instruments | • MT5 not provided yet |
• Both MT4 and IRESS platforms offered | |
• 24/7 multilingual cutsomer support | |
• Multiple account types with flexible options | |
• Rich educational resources | |
• High leverage up to 1:500 |
TMGM, a regulated broker, holds authorization from the tier-one regulator ASIC and is also licensed by the New Zealand Financial Markets Authority (FMA). Additionally, TMGM's international operations are overseen by the VFSC in Vanuatu offshore. Now, let's quickly delve into TMGM's regulations and licenses, which will shed light on how the broker ensures compliance with industry standards and protects clients.
Regulated Country | Regulated Authority | Regulated Entity | License Type | License Number |
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ASIC | TRADEMAX AUSTRALIA LIMITED | Market Making(MM) | 436416 |
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FMA | TRADEMAX GLOBAL MARKETS (NZ) LIMITED | Market Making(MM) | 569807 |
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VFSC | Trademax Global Limited | Retail Forex License | 40356 |
Under the oversight of ASIC, a prominent tier-1 regulatory authority, TMGM's Australian branch known as TRADEMAX AUSTRALIA LIMITED operates with regulatory number 436416. This entity is licensed for Market Making (MM). As per the stringent rules set by ASIC, which is globally recognized, brokers must ensure the safety of clients' funds.
Since TMGM claims to obtain the ASIC license, an investigation team from WikiFX visited the company's registered address in Australia. This visit, conducted in person, revealed that the company is operating smoothly and on a large scale. This direct observation by the investigator enhances our confidence in TMGM's legitimacy and highlights its strong and credible operations under ASIC's regulation.
TMGM's another entity, the entity in New Zealand known as TRADEMAX GLOBAL MARKETS (NZ) LIMITED, similarly, holds a Maket Making (MM) lincense from the authorization of FMA.
Lastly, TMGM's international branch, Trademax Global Limited, operates under the regulation and authorization of VFSC offshore, holding a license for retail forex activities.
TMGM goes above and beyond by offering an impressive collection of 12,000+ trading instruments, setting it apart as a broker with an exceptional range of options, covering 60 currency pairs, indices, and stocks sourced from major global exchanges. Moreover, TMGM extends its offerings to include futures, as well as sought-after precious metals like gold and silver. Adding to the mix are energies such as oil and natural gas, not to mention a selection of 10 cryptocurrencies like Bitcoin, Ethereum, and Litecoin.
Trading Assets | Available |
Forex | ![]() |
Shares | ![]() |
Energies | ![]() |
Indices | ![]() |
Precious Metals | ![]() |
Cryptocurrencies | ![]() |
Futures | ![]() |
Indices CFD Dividend | ![]() |
Shares CFD Dividend | ![]() |
ETFS | ![]() |
Stocks | ![]() |
Options | ![]() |
TMGM tailors its account types to match the chosen trading platform. If you're using the MetaTrader 4 platform, they provide EDGE and CLASSIC accounts. Opting for the IRESS trading platform brings you a choice of STANDARD, PREMIUM, and GOLD accounts. Plus, for those who prefer Swap Free accounts or want to practice with demo accounts, TMGM offers those options as well.
Both accounts require a minimum deposit of $100, quite reasonable for most regular traders to get started.
Classic | Edge | |
Min Deposit | $100 | $100 |
Min Lot Size | 0.01 Lot | 0.01 Lot |
Max Leverage | 1:500 | 1:500 |
Funding | Free | Free |
Execution Type | ECN | ECN |
EA Available | ![]() |
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Islamic Account | ![]() |
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Hedging Allowed | ![]() |
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The minimum deposit requirement is $5,000 for STANDARD Account, $10,000 for PREMIUM Account, and $50,000 for GOLD Account. When it comes to fees, the Standard account entails a platform fee of $35 USD or $45 AUD per month. The Premium and Gold account holders, on the other hand, enjoy fee-free access to the platform. Additionally, all account types are subject to a data fee for each exchange they use.
Standard | Premium | Gold | |
Minimum Deposit | $5,000 | $10,000 | $50,000 |
Platform Fee | $35 or A$45/per month | No Fee | No Fee |
Data Fee | For Every Exchange | ||
Min. Commission | $10 | Not mentioned | |
Commission Rate (cps) | 2.25 | 7 | 1.8 |
Minimum(Trade Size) | 333Shares | Not mentioned | |
Financing | Libor+3.5%/-3.5% | Libor +3%/-3% | Libor +2.5%/-2.5% |
TMGM also provides a Swap Free account for those who are unable to pay or receive interest owing to their religious convictions. To open a Swap-Free account, you'll need to have an Edge account, which requires a minimum of $100 and a minimum lot size of 0.01.
Demo trading accounts are available through TMGM for anyone interested in testing the waters before opening a real account. These accounts allow you to test out the broker's services before committing any real money. In addition, it provides a means of learning as much as possible about TMGM before you commit to an investment account.
The MetaTrader4 trading platform (which we'll come to in a moment) is available to demo accounts for an entire year. However, in the event of inactivity for six months, your access will be terminated. A $5,000, $10,000, or $50,000 virtual currency balance is available to you.
TMGM offers quite a high trading leverage up to 1:500 on all account types. Forex products trading can use leverage of up to 1:500, indices and energy with leverage of 1:100, and precious metals featuring 400x leverage.
Here's a table comparing leverage provided by major industry players. Notably, TMGM offers relatively higher leverage, though it appears somewhat more cautious compared to the other three competitors. However, users should remember that high leverage is a two-edged tool with potential risks.
Broker | TMGM | Exness | FXTM | IC Markets |
Max. Leverage | 1:500 | 1:Unlimited | 1:2000 | 1:500 |
TMGM offers competitive spreads and commissions on their trading instruments. The exact spreads and commissions vary depending on the account type and trading platform used. The spreads on CLASSIC accounts start at 1.0 pips, with no commission charged, while the spreads on EDGE accounts start at 0.0 pips, and a commission of $7 (round turn) is charged per lot.
Generally, TMGM offers tight spreads on major forex pairs such as EUR/USD, with spreads as low as 0.0 pips. Commissions may be charged on some trading instruments, such as shares and futures. However, these commissions are generally competitive compared to other brokers in the industry.
Below is a comparison table about spreads and commissions charged by different brokers:
Broker | EUR/USD Spread | Commission |
TMGM | 0.0 pips | $7 per round turn |
Pepperstone | 0.09 pips | $3.5 per lot |
eToro | 1.0 pips | $0 |
IG | 0.6 pips | $0 |
Plus500 | 0.8 pips | $0 |
XM | 0.9 pips | $0 |
Note that commission rates may vary based on account type and trading volume, and spread rates may also vary depending on market conditions.
TMGM offers two popular trading platforms for their clients: MetaTrader4 (MT4) and IRESS.
Available Devices | PC, Mac, Mobile ( OS and Android) |
Language | English |
Scalping | ![]() |
Hedging | ![]() |
Automated Trading | ![]() |
One-click Execution | ![]() |
Web-based Trading | ![]() |
Mobile Trading | ![]() |
MT5 | ![]() |
IRESS | ![]() |
cTrader | ![]() |
Proprietary Platform | ![]() |
MT4 is a popular and widely used platform that provides advanced charting tools, technical analysis indicators, and customizable trading robots. It also supports a variety of order types and execution modes, allowing for flexible and efficient trading.
IRESS, on the other hand, is a more sophisticated and feature-rich platform that is designed for more experienced traders. It offers advanced order management, risk management, and portfolio analysis tools, as well as advanced charting and technical analysis capabilities.
Both platforms are available on desktop, mobile, and web versions, providing traders with the flexibility to trade on their preferred device.
Additionally, MetaTrader5 is not provided yet, and according to the announcement of TMGM's website, this popular trading platform is coming soon.
TMGM provides its traders with various trading tools to enhance their trading experience. These tools include:
Trading Calendar: A calendar that shows the dates and times of upcoming economic events, including central bank meetings, interest rate decisions, and other important announcements.
Market Sentiment Tool: A tool that allows traders to gauge market sentiment by analyzing the number of long and short positions held by other traders.
ForexVPS: A virtual private server that allows traders to run their trading strategies 24/7 without the need for a personal computer.
Trading Central: A research platform that provides traders with market analysis, trading ideas, and technical analysis tools to help them make informed trading decisions.
Traders Terminology: Type the keyword or term that you are looking for or select the letters to see the list of words.
Max-Calculator : The Max-Calculator is one of the best ways to help traders quickly evaluate the possible outcome of potential transactions or actions. In addition, this calculator will also help you calculate the margin easily.
Educational Contents | Available |
HUBx | ![]() |
Trading Calendar | ![]() |
Market Sentiment Tool | ![]() |
ForexVPS | ![]() |
Trading Central | ![]() |
Traders Terminology | ![]() |
Max-Calculator | ![]() |
TMGM | Most other | |
Minimum Deposit | $100 | $100 |
The minimum deposit and withdrawal amount is both $100. Depositing doesn't cost anything, but the time it takes and the currency options depend on your chosen payment method. Be aware, though, that some deposit methods like Union Pay, FasaPay, Visa, and MasterCard can't be used for withdrawals.
Payment Options | Currencies | Min.Deposit | Min.Withdrawal | Fees | Processing Time ( Deposit) | Processing Time ( Withdrawal) |
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NZD, USD, AUD, EUR, CAD | $100 | $100 | $0 | 1-3 Working Day | 1 Working Day |
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USD | Instant | ||||
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NZD | Not mentioned | 1 Working Day | Not mentioned | ||
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USD | $100 | Instant | 1 Working Day | ||
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USD, EUR, GBP, AUD, NZD, CAD | 1 Working Day | ||||
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CNY | Not mentioned | Instant | Not mentioned | ||
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$100 | 1 Working Day | ||||
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USD | Not mentioned | Not mentioned | |||
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USD, EUR, GBP, AUD, NZD, CAD | 3 Working Days | ||||
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MYR, THB, IDR, VND | $100 | Instant | |||
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USD, EUR, GBP, AUD, NZD, CAD | Not mentioned | ||||
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TMGM charges various fees, including spreads and commissions that we have mentioned before, as well as overnight financing fees. The specific fees vary depending on the type of account and trading platform used. TMGM does not charge any deposit or withdrawal fees, but clients may incur fees from their payment providers.
Additionally, TMGM charges an inactivity fee of $10 per month if there is no activity in the trading account for a period of six months or more. This fee will be deducted from the available balance of the account. However, if the available balance is less than $10, no inactivity fee will be charged. It is important to note that the inactivity fee is a common practice in the industry and is designed to encourage active trading and to offset the costs of maintaining inactive accounts.
See the fee comparison table below:
Broker | Deposit Fee | Withdrawal Fee | Inactivity Fee |
TMGM | Free | Free | $10/month after 6 months of inactivity |
Pepperstone | Free for Australian Bank Transfer, $20 for International Transfer | $0 after 12 months of inactivity | |
eToro | $5 | $10/month after 12 months of inactivity | |
IG | $1 for AUD, CAD, and USD, £1 for GBP, €1 for EUR | $18/month after 24 months of inactivity | |
Plus500 | $1.5-$10 depending on withdrawal method | $10/month after 3 months of inactivity | |
XM | Free | $5/month after 90 days of inactivity |
TMGM offers customer support through multiple channels including live chat, phone, email, and social media (YouTube, Twitter, Facebook, Instagram and LinkedIn).
Contact Channels | Details |
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+612 8036 8388 |
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support@tmgm.com |
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24/7 |
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Sydney office, Melbourne Office, Adelaide Office, Canberra Office, Auckland Office |
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https://www.facebook.com/TMGMgroup |
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https://twitter.com/TMGMgroup |
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https://www.youtube.com/tmgmgroup |
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https://www.instagram.com/tmgmgroup/ |
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https://www.linkedin.com/company/tmgmgroup |
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https://api.whatsapp.com/send/?phone=61452597488&text&app_absent=0 |
You'll find an extensive and user-friendly FAQ section right on their website, covering a wide range of topics, from account setup to trading strategies, making it an invaluable tool for traders of all levels.
Pros | Cons |
• Multiple languages supported | • No dedicated account manager or personal service |
• Quick response times to inquiries | • Limited availability on weekends and holidays |
• Personalized service with tailored solutions |
TMGM's special feature is TMGM Academy, and it's available in addition to the usual customer service. You may get a thorough education in foreign exchange trading by enrolling in the TMGM Academy. There are three levels to choose from Basic, Intermediate, and Expert.
The beginner stage prepares you for your journey into forex trading. The Beginner Stage develops a strong foundation based on understanding margin trading, how to read various types of charts, plus an introduction to trading instruments, oscillators, indicators, and support plus resistance.
TMGM Academies Intermediate Stage starts focusing on more technical aspects of forex trading. This includes considering indicators like MACD, RSI, ATRs, Moving Averages, and more. Additionally, TMGM introduces Fibonacci and Fundamental analysis, plus effective ways to employ them in trading.
The Advanced Stage in the TMGM Academy is where traders get deep into various trading strategies and how to apply them. This stage includes learning about advanced forms of Fibonacci extensions and retracements, RSI, correlation, and trade management.
To sum it up, TMGM stands out as a respected and regulated broker. They offer a diverse set of trading options and platforms, including the sought-after MetaTrader4 and IRESS. Plus, they shine when it comes to customer service and educational materials. Not to mention, their spreads and commissions are pretty darn competitive too. Now, the ball's in your court when it comes to choosing whether to go with this broker or explore other options. Hopefully, this review has shed some light on your decision-making process.
Question 1: Is TMGM regulated?
Answer 1: Yes. It is regulated by ASIC, FMA and VFSC (offshore).
Question 2: At TMGM, are there any regional restrictions for traders?
Answer 2: Yes. Products and Services offered on their website are not intended for residents of the United States.
Question 3: Does TMGM offer demo accounts?
Answer 3: Yes.
Question 4: Does TMGM offer the industry-standard MT4 & MT5?
Answer 4: Yes. It supports MT4, and MT5 is coming soon.
Question 5:: What is the minimum deposit for TMGM?
Answer 5: The minimum initial deposit at TMGM to open an account is $100.
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 octafx and tmgm are, we first considered common fees for standard accounts. On octafx, the average spread for the EUR/USD currency pair is from 0.3 pips, while on tmgm the spread is From 0.
To determine the safety of our top brokers, our experts will consider many factors. This includes which licenses the broker holds and the credibility of these licenses. We also consider the history of brokers, because long-term brokers are usually more reliable and trustworthy than new brokers.
octafx is regulated by CYSEC. tmgm is regulated by ASIC,FMA,VFSC.
When our experts review brokers, they will open their own accounts and trade through the broker's trading platform. This enables them to comprehensively evaluate the quality, ease of use, and function of the platform.
octafx provides trading platform including MT5 account and trading variety including 28 Currency pairs + 2 metals + 2 energies + 10 indices. tmgm provides trading platform including Edge ,Classic and trading variety including FX: 56 Bullion: 3 Oil: 2 CFD: 20 Crypto: 12 Shares: 48.