Oanda vs TMGM compared

Online brokers compared for fees, trading platforms, safety and more. See how Oanda stacks up against TMGM!

Oanda
TMGM
Oanda
4.6
78.3% of retail CFD accounts lose money
68% of retail CFD accounts lose money

Last update of dataSep 2022

Oanda

Oanda is a US forex broker. It is regulated by top-tier authorities like the UK FCA and Australia's ASIC.

Recommended for forex traders who value a user-friendly platform and great research tools.

TMGM

TMGM is an Australian forex broker. It is regulated by both ASIC and VFSC, and is available globally for clients.

Recommended for forex traders who prefer the MetaTrader platform.

Oanda's service is on par with TMGM's and a comparison of their fees shows that Oanda's fees are similar to TMGM's.

Account opening takes somewhat more effort at Oanda compared to TMGM, deposit and withdrawal processes are about the same quality at Oanda, while customer service quality is somewhat lower than TMGM's.

Our experts rated the trading platform of Oanda as better than the platform of TMGM, found that clients have access to slightly less markets and products with Oanda, while TMGM provides somewhat lower-quality research and education.

*Data marked with an asterisk contain additional info, expand the relevant sections below to see details.

Basic data of broker

Overall Score
4.6

Recommended for Forex traders who value a user-friendly platform and great research tools

Overall Score
4.5

Recommended for Forex traders who prefer the MetaTrader platform

Country of origin

USA

Country of origin

Australia

Fees

Fees score
4.2
Fees score
4.6
Fees summary

Low CFD and high forex trading fess, average non-trading fees

Fees summary

Low trading and non-trading fees

Stock and ETF fees

Forex fees

Fund fees

Bond fees

Options fees

Futures fees

CFD fees

Non-trading fees

Deposit and withdrawal

Deposit and withdrawal score
4.2
Deposit and withdrawal score
4.3
Number of base currencies

9

Number of base currencies

6

Deposit type

Withdrawal type

Account opening

Account opening score
4.2
Account opening score
5.0
Account opening fully online
Account opening fully online
Minimum deposit
*

$0

*
Minimum deposit
*

$100

*
Time to open account

1-3 days

Time to open account

1 day

Required documents

Proof of identity: ID / passport Proof of residency: bank statement / utility bill

Required documents

Proof of identity: national ID / passport / driver's license Proof of residency: bank statement / utility bill

Trading platform

Web platform score
4.5
Web platform score
2.8
Mobile platform score
5.0
Mobile platform score
3.8
Desktop platform score
4.5
Desktop platform score
3.4

Markets and products

Markets and products score
1.8
Markets and products score
2.4
Stocks
Stocks
Fractional shares
Fractional shares
ETFs
ETFs
Forex
Forex
Funds
Funds
Bonds
Bonds
Options
Options
Futures
Futures
Crypto
*
*
Crypto
*
*
CFDs
CFDs
CFD disclaimer

Disclaimer: 78.3% 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.

CFD disclaimer

Disclaimer: 68% 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.

Research, education

Research score
4.5
Research score
4.0
Charting quality

Great

Charting quality

Mid-range

Education score
4.8
Education score
3.0
Demo account
Demo account

Customer service

Customer service score
4.5
Customer service score
5.0
Phone
Phone
Live chat
Live chat
Email
Email
24/7 availability
24/7 availability

Security

Investor protection amount

£85,000 in the UK, €20,000 in the EU, CAD 1,000,000 in Canada, none in the US, Australia, Asia and other countries

Investor protection amount

No protection

Banking background
Banking background
Listed on stock exchange
Listed on stock exchange
Foundation date

1996

Foundation date

2013

Country of regulation

US, UK, Australia, Singapore, Canada, Malta, Japan, British Virgin Islands

Country of regulation

Australia, Vanuatu, New Zealand

Oanda

For detailed information and hands-on experience, read our review of this broker.

TMGM

For detailed information and hands-on experience, read our review of this broker.

*Data marked with an asterisk contain additional info, expand the relevant sections below to see details.

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.

Brokers displayed might not be available in United States.

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