TMGM vs XM compared

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

TMGM
XM
68% of retail CFD accounts lose money
74.89% of retail CFD accounts lose money

Last update of dataDec 2022

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.

XM

XM is a global forex and CFD broker regulated by Australia's ASIC, CySEC of Cyprus, and Belizean authority IFSC.

Recommended for forex and CFD traders who prefer MetaTrader platforms and seek great account opening.

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

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

Our experts rated the trading platform of TMGM as being of the same quality as the platform of XM, found that clients have access to about the same number of markets and products with TMGM, while XM provides somewhat better 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
4.1

Recommended for Forex traders who prefer the MetaTrader platform

Overall Score
4.4

Recommended for Forex and CFD traders who prefer MetaTrader platforms and seek great account opening

Country of origin

Australia

Country of origin

Cyprus

Fees

Fees score
3.9
Fees score
4.3
Fees summary

Low trading and non-trading fees

Fees summary

Average trading and non-trading fees, low CFD fees

Stock and ETF fees

Forex fees

Fund fees

Bond fees

Options fees

Futures fees

Crypto fees

CFD fees

Non-trading fees

Deposit and withdrawal

Deposit and withdrawal score
4.3
Deposit and withdrawal score
5.0
Number of base currencies

6

Number of base currencies

10

Deposit type

Withdrawal type

Account opening

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

$100

*
Minimum deposit
*

$5

*
Time to open account

1 day

Time to open account

1 day

Required documents

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

Required documents

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

Trading platform

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

Markets and products

Markets and products score
2.2
Markets and products score
2.5
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: 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.

CFD disclaimer

Disclaimer: 74.89% 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
4.0
Research score
4.4
Charting quality

Mid-range

Charting quality

Mid-range

Education score
3.0
Education score
4.5
Demo account
Demo account

Customer service

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

Security

Investor protection amount

No protection

Investor protection amount

€20,000 for EEA residents, no protection for others

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

2013

Foundation date

2009

Country of regulation

Australia, Vanuatu, New Zealand

Country of regulation

Cyprus, Australia, Belize, United Arab Emirates

TMGM

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

XM

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.

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