Is TMGM free?

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Independent

Is TMGM free as of September 2024?

Disclaimer: 80.26% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

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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80.26% of retail CFD accounts lose money

TMGM

4.1/5

Minimum deposit

$100

FX fee

Low

Index CFD fee

Average

Withdrawal fee

Account opening

1 day

Visit TMGM

80.26% of retail CFD accounts lose money

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 account: $3.50 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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80.26% of retail CFD accounts lose money

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, Fusion Markets and IC Markets.

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80.26% of retail CFD accounts lose money

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 TMGM	Fusion Markets Fusion Markets	IC Markets IC Markets
EURUSD benchmark fee Includes all fees (spread, commission, financing rate) of a $20,000 30:1 position open, 1-week-hold, and close	$6.3	$9.7	$9.5
EURGBP benchmark fee Includes all fees (spread, commission, financing rate) of a $20,000 30:1 position open, 1-week-hold, and close	$9.4	$8.9	$9.6

Data updated on September 23, 2024

CFD fees

TMGM has average CFD trading fees.

CFD fees and commissions on a $2,000 trade
	TMGM TMGM	Fusion Markets Fusion Markets	IC Markets IC Markets
Apple CFD Commission for a $2,000 stock CFD trade	- Not available	$0.1 The fees are built into the spread, 0.02 is the average spread cost during peak trading hours.	$0.3 $0.02 per share
Vodafone CFD Commission for a $2,000 stock CFD trade	- Not available	- Not available	$2.6 0.10% of trade value
Germany Commission for a $2,000 stock CFD trade	-	- Not available	- Not available

Data updated on September 23, 2024

Currency conversion fee

TMGM will charge a Currency Conversion Fee for all trades on instruments denominated in a currency different to the currency of your account. The fee is charged as the following: Exchange rate received from liquidity providers plus a mark-up. We used the EURUSD trading fees for the calculation..

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80.26% of retail CFD accounts lose money

TMGM non-trading fees

When it comes to non-trading fees, TMGM is a rather cheap broker.

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 TMGM	Fusion Markets Fusion Markets	IC Markets IC Markets
Withdrawal fee Fee for withdrawing money from the broker account. It is zero if you can withdraw money for free via any method, e.g. credit/debit card or bank transfer.	$0 Free withdrawal	$0 Free withdrawal for credit/debit cards, domestic bank transfers and e-wallets. International bank transfer costs AUD 20.	$0 Free withdrawal for credit/debit cards, bank transfers to Australian bank accounts, and electronic wallets. International bank transfer costs AUD 20.
Deposit fee	$0 Free deposit	$0 Free deposit	$0 Free deposit
Inactivity fee Fee applied if a customer does not trade for a certain length of time	Yes $30 inactivity fee per month if your account balance falls below $500 or if it remains inactive for over six months	No No inactivity fee	No No inactivity fee
Account fee Monthly account fee	No No account fee	No No account fee	No No account fee

Data updated on September 23, 2024

Visit broker
80.26% of retail CFD accounts lose money

TMGM

4.1/5

Minimum deposit

$100

FX fee

Low

Index CFD fee

Average

Withdrawal fee

Account opening

1 day

Visit TMGM

80.26% of retail CFD accounts lose money

TMGM deposit fee

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

TMGM deposit methods
	TMGM TMGM	Fusion Markets Fusion Markets	IC Markets IC Markets
Bank transfer Bank transfer is available for deposit	Yes	Yes	Yes
Credit/debit card Credit/debit cards are available for deposit	Yes	Yes	Yes
Electronic wallets Electronic wallets are available for deposit	Yes	Yes	Yes
Deposit fee	$0 Free deposit	$0 Free deposit	$0 Free deposit

Data updated on September 23, 2024

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80.26% of retail CFD accounts lose money

TMGM withdrawal fee

TMGM generally doesn't charge a withdrawal fee.

TMGM withdrawal fees and options compared
	TMGM TMGM	Fusion Markets Fusion Markets	IC Markets IC Markets
Bank transfer Bank transfer is available for deposit	Yes	Yes	Yes
Credit/debit card Credit/debit cards are available for deposit	Yes	Yes	Yes
Electronic wallets Electronic wallets are available for deposit	Yes	Yes	Yes
Withdrawal fee for bank transfer Fee for withdrawing money from the broker account. It is zero if you can withdraw money for free via any method, e.g. credit/debit card or bank transfer.	$0 Free withdrawal	$0 Free withdrawal for credit/debit cards, domestic bank transfers and e-wallets. International bank transfer costs AUD 20.	$0 Free withdrawal for credit/debit cards, bank transfers to Australian bank accounts, and electronic wallets. International bank transfer costs AUD 20.

Data updated on September 23, 2024

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80.26% of retail CFD accounts lose money

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 TMGM	Fusion Markets Fusion Markets	IC Markets IC Markets
Inactivity fee Fee applied if a customer does not trade for a certain length of time	Yes $30 inactivity fee per month if your account balance falls below $500 or if it remains inactive for over six months	No No inactivity fee	No No inactivity fee
Inactivity fee Fee applied if a customer does not trade for a certain length of time	$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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80.26% of retail CFD accounts lose money

Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 80.26% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

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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.