Is TMGM free?

TMGM does not provide access to real stock trading on US markets. If you are looking for a zero-commission broker to trade on US stock exchanges, you can check our article detailing the best apps offered in this category of brokers. If you wish to stick with TMGM though, then you will find the fees they charge below.

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TMGM fees
Overview of TMGM fees and charges

It's safe to say that TMGM's fees are low in general. They either don't charge a brokerage fee for things that other brokers do, or they only charge a small amount.

Here's a high-level overview of TMGM's fees

TMGM Fees snapshot
Assets Fee level Fee terms
US stock fee - Not available
EURUSD fee Low Edge pricing: $3.5 commission per lot per trade plus spread cost. 0.1 pips is the average spread cost during peak trading hours.
US mutual fund fees - Not available
Inactivity fee Low $30 inactivity fee per month if your account balance falls below $500 or if it remains inactive for over six months.

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74-89% of retail CFD accounts lose money

TMGM fees
TMGM fees explained

Online brokerages in general charge much lower brokerage fees than traditional brokerages do - this is largely because online brokerages' businesses can be much better scaled: from a purely technical standpoint, it doesn't make that much of a difference for them if they have 100 or 5,000 clients.

This is not to say, however, that they don't charge any fees at all. They make money by charging you various rates for various actions or events. Usually you need to keep an eye on the following three types of fees:

  • Trading fees - these are brokerage fees that you pay when you actually carry out a trade, like buying an Apple share or an ETF. What you pay is either a commission, a spread or a financing rate. Some brokers apply all of these.
    • A commission is either fixed or based on the traded volume.
    • A spread is the difference between the buy price and the sell price.
    • A financing rate or overnight rate is charged when you hold your leveraged positions for more than one day.
  • Non-trading fees. These are usually related to some operations you carry out in your account, such as depositing money, withdrawing money, or not trading for an extended period.

We compare TMGM fees with its closest competitors, Eightcap and Axi.

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74-89% of retail CFD accounts lose money

TMGM fees
TMGM trading fees

TMGM's trading fees are low, which makes it suitable for you even if you trade often (i.e. several times a week).

Let's break down trading fees according to the different asset classes available at TMGM.

Trading fees

TMGM's trading fees are low.

Forex fees

TMGM's forex fees are low.

Forex fees of a $20,000 30:1 position (open, 1-week-hold and close)
TMGM Eightcap Axi
EURUSD benchmark fee $6.7 $6.4 $5.6
EURGBP benchmark fee $7.7 $6.9 $4.4

CFD fees

TMGM has low CFD trading fees.

CFD fees and commissions on a $2,000 trade
TMGM Eightcap Axi
Apple CFD - $0.5 -
Vodafone CFD - - -
Germany - - -

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74-89% of retail CFD accounts lose money

TMGM fees
TMGM non-trading fees

Some of TMGM's non-trading fees are average.

Non-trading fees include various brokerage fees and charges at TMGM that are not related to buying or selling assets. This can be a withdrawal fee, deposit fee, inactivity fee or account fee.

A high-level overview of how TMGM stacks up in terms of non-trading fees
TMGM Eightcap Axi
Withdrawal fee $0 $0 $0
Deposit fee $0 $0 $0
Inactivity fee Yes No No
Account fee No No No

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74-89% of retail CFD accounts lose money

TMGM fees
TMGM deposit fee

Usually, brokers don't charge anything for deposits, and TMGM is no different.

TMGM deposit methods
TMGM Eightcap Axi
Bank transfer Yes Yes Yes
Credit/debit card Yes Yes Yes
Electronic wallets Yes Yes Yes
Deposit fee $0 $0 $0

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74-89% of retail CFD accounts lose money

TMGM fees
TMGM withdrawal fee

TMGM generally doesn't charge a withdrawal fee.

TMGM withdrawal fees and options compared
TMGM Eightcap Axi
Bank transfer Yes Yes Yes
Credit/debit card Yes Yes Yes
Electronic wallets Yes Yes Yes
Withdrawal fee for bank transfer $0 $0 $0

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74-89% of retail CFD accounts lose money

TMGM fees
TMGM inactivity fee

TMGM does apply an inactivity fee and it is $30 inactivity fee per month if your account balance falls below $500 or if it remains inactive for over six months.. Keep this in mind to avoid getting charged after a longer idle period. The fact that TMGM charges an inactivity fee makes it less ideal for you if you are a buy-and-hold investor.

The inactivity fee charged by TMGM is low.

TMGM Eightcap Axi
Inactivity fee Yes No No
Inactivity fee $30 inactivity fee per month if your account balance falls below $500 or if it remains inactive for over six months. No inactivity fee No inactivity fee

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74-89% of retail CFD accounts lose money

Author of this article

Krisztián Gátonyi

Author of this article

Krisztián has 10+ years of experience in proprietary trading in the interbank currency market as a foreign exchange risk manager. He is interested also in real estate and dividend growth investing. His purpose is to help people find the best investment provider.

Krisztián Gátonyi

Senior Broker Expert

Krisztián has 10+ years of experience in proprietary trading in the interbank currency market as a foreign exchange risk manager. He is interested also in real estate and dividend growth investing. His purpose is to help people find the best investment provider.

Everything you find on BrokerChooser is based on reliable data and unbiased information. We combine our 10+ years finance experience with readers feedback. Read more about our methodology

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