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TMGM CFD trading main features and highlights

Your expert
Krisztián G.
Fact checked by
Tamás D.
Updated
3w ago
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Can you trade CFDs at TMGM as of February 2024?

We have good news! Yes, CFD trading is available at TMGM.

In this article, we'll walk you through the costs of CFD trading at TMGM and the type of CFDs you can trade. We'll also briefly explain the basics of CFD trading, including possible risks.

The CFD brokerage market is highly competitive. Differences in fees, product availability and account conditions can have a big impact on your trading success and comfort. Browse our list of the best CFD brokers in 2024 to see if TMGM is among the top CFD brokers in your country.

My key findings in a nutshell
Krisztián
Krisztián Gátonyi
Method-Man | Forex • Market Analysis • Stock Market

I've thoroughly tested TMGM services with our analyst team by opening a real-money account and these are my most important findings:

  • In CFD trading, you speculate on the price movement of an underlying asset without actually buying or selling it
  • CFDs are versatile and flexible products but they're also complex and highly risky
  • Stock CFDs, stock index CFDs and commodity CFDs are among the most common types; see if TMGM also offers them
  • Spreads, commissions, withdrawal fees and inactivity fees will make up the bulk of your costs; see how TMGM compares
BrokerChooser score
4.1 4.1 /5
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80.26% of retail CFD accounts lose money

Key features of CFD trading at TMGM

🛡️ Negative balance protection Yes
💰 Minimum deposit $100
Time to open account 1 day
💳 Deposit methods Bank transfer, Credit/debit cards, Paytrust, Neteller, Sticpay, Skrill, Fasapay, UnionPay, RMB Instantm Broker to Broker
📝 Leverage can be set manually Yes
🎮 Demo account provided Yes
📋 Read more Read TMGM review

CFD trading in a nutshell

Before we move on to discuss CFD trading conditions at TMGM, it may be a good idea to go through the basics of CFD trading, so you're aware of the major benefits and risks.

CFD, which stands for Contract for Difference, is a type of trading instrument that allows you to speculate on the price movements of an underlying asset without actually owning it. In a CFD trade, you enter into a contract with a broker to exchange the difference between the opening and closing price of a particular asset. If you believe the price of the asset will increase, you can buy a CFD, and if you think it will decrease, you can sell a CFD.

The profit or loss you make is based on the difference between the opening and closing price of the CFD. If the price moves in your favour, you will make a profit, but if it moves against you, you will incur a loss.

What are the advantages?

CFD trading allows you to trade with leverage, which means you can potentially make bigger profits with a smaller amount of money. However, it's important to keep in mind that leverage can also magnify your losses.

CFD trading also allows you to trade on a wide range of markets, including stocks, commodities and currencies, which allows you to diversify your portfolio.

It is also a flexible tool. You can trade both long and short positions, meaning you can profit from both rising and falling markets. You also don't need to actually own the underlying asset you're trading, so it means you don't have to worry about storage or ownership costs if you own gold or oil, for example.

What are the disadvantages?

CFDs seem like a very accessible and flexible tool. But note that it is also a high-risk product that requires a thorough understanding of market conditions and in-depth expertise in trading. Make sure you understand that you could potentially lose more than your initial investment. Even if the high reward seems very attractive, be aware that CFDs are a complex trading tool and think twice before getting into CFD trading, especially if you are a beginner.

Also, when you trade CFDs, you don't actually own the underlying asset; this means you don't have any voting rights or other ownership benefits that come with owning the asset.

If you want to explore the topic further, we suggest you read our in-depth guide 'What is CFD?'

CFD product selection at TMGM

The main idea of CFD trading is to speculate on the price movement of an underlying asset. This underlying asset can be almost anything - a stock, a stock index, a bond, or a commodity like oil or gold. Check out what types of CFDs you can trade at TMGM and some of its closest competitors.

CFD asset types available at TMGM
Stock CFD
Yes Yes Yes
Stock index CFD
Yes Yes Yes
Bond CFD
No No Yes
Commodity CFD
Yes Yes Yes
Crypto
Yes
Yes
Yes

Data updated on February 12, 2024

Key CFD trading fees at TMGM

When choosing a broker for CFD trading, costs - such as how much you have to pay for a trade in spreads, commissions and other charges - will be among your top criteria. To help you better grasp trading costs, we calculated a benchmark fee at TMGM for some popular CFD products, which you can see in the table below.

Selected CFD trading fees at TMGM
S&P 500 index CFD fee
$3.6 $2.5 $2.9
Euro Stoxx 50 index CFD fee
$4.1 $2.6 $3.0
Apple CFD fee
-
$3.0 $1.6
Vodafone CFD fee
-
-
$6.3
EURUSD spread
0.1 0.0 0.0
GBPUSD spread
0.2 0.0 0.0

Data updated on February 12, 2024

BrokerChooser score
4.1 4.1 /5
Visit broker
80.26% of retail CFD accounts lose money

Non-trading fees at TMGM

Non-trading fees are charged for services or activities not directly related to a specific trade. They typically include account maintenance fees, deposit/withdrawal fees or inactivity fees. Here's what you need to know about them at TMGM:

Non-trading fees at TMGM
Account fee
No
No
No
Withdrawal fee
$0
$0
$0
Deposit fee
$0
$0
$0
Inactivity fee
Yes
No
No

Data updated on February 12, 2024

Is CFD trading safe?

CFDs are leveraged products, meaning that you trade with your own money plus the money you borrow from your broker. This can greatly amplify your losses, making CFD trading extremely risky and therefore not suitable for beginners. A very high percentage of retail traders lose money when trading CFDs.

If you are experienced and confident enough to engage in CFD trading, though, you can rest assured that the brokers we recommend are all regulated by top-tier financial authorities.

Is TMGM a legit broker?
See how TMGM is regulated and whether you should have any concerns using it.

Looking for a CFD broker?

Do you want to find the brokers that offer the best CFD trading conditions? Thankfully, we have already done that for you. Check our selection of the top CFD brokers in the world.

Read Best CFD brokers article

If you need a more detailed side-by-side comparison of these brokers or any others you may have in mind, try our broker comparison tool.

Our expert team here at BrokerChooser specializes in helping you find a broker that best suits your needs. We have reviewed over 100 brokers based on BrokerChooser's unique methodology.

If you have any feedback or questions, feel free to contact us via email!

FAQ

Is CFD trading good for beginners?

CFD trading is highly risky and therefore not generally recommended for beginners, even as the small initial capital requirements involved in CFD trading may appeal to those who have just started trading. Trading CFDs requires a thorough understanding of margin trading and special risk management techniques such as stop-loss orders.

Are CFDs legal?

CFDs are legal in the EU, UK, Australia and many other countries around the world, but are typically heavily regulated. Such regulatory measures for CFDs include mandatory risk warnings, leverage restrictions, or requirements that brokers offer negative balance protection. CFDs are banned outright in the US and in a few other jurisdictions such as Hong Kong.

What is leverage?

When trading with leverage, you only need to deposit a certain percentage of your CFD trading position, with the rest borrowed from your broker. For example, in the case of 10:1 leverage, you would need to deposit only $1,000 to open a $10,000 trade. Leverage can amplify your gains, but also your losses - in extreme cases, a small drop in the price of the underlying asset can wipe out your entire initial investment.

Check out this short video for a behind-the-scenes peek into how our experts personally test and evaluate brokers.

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Further reading

Author of this article

Krisztián Gátonyi

Method-Man | Forex • Market Analysis • Stock Market

I have 15 years of experience in proprietary trading, mainly in the interbank currency market as a foreign exchange risk manager. I'm actively involved in reviewing the 100+ brokers listed on our site. I personally open accounts with real money, execute trades, test customer services. I hold an MSc in International Business from the University of Middlesex. My 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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