FXCL vs TMGM

FXCL or TMGM – which is better for UK traders 2024? Compare FXCL and TMGM in this detailed breakdown of their platforms, features and fees.

FXCL vs TMGM Comparison Table 2024
FXCL TMGM
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1.8
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3.4
FXCL is ranked #91 among CFD brokers. TMGM is ranked #58 among CFD brokers.
Review
Review
FXCL is an offshore brokerage registered with the VFSC. The firm uses ECN execution to offer spreads from 0.0 pips. There are no deposit or withdrawal fees and access to reliable trading tools, including MetaTrader 4. Several promotions are also available including demo contests with cash prizes and deposit bonuses. TMGM is an ASIC-regulated forex and CFD broker with a vast range of tradeable assets covering forex, stock, index, crypto and commodity markets. The account types on offer provide a flexible choice between no commission or zero spreads, with competitive pricing all-round.
Pros
  • Regular trading contents with cash prizes, referral schemes and incentives for new and existing traders
  • Integrated MT4 web platform and mobile app with analysis tools and custom charting
  • Loss-free trading insurance for account balances of $500+
  • Multiple account options including a Cent solution for beginners
  • Copy trading service for a hands-off investment approach
  • Very high leverage up to 1:2000
  • Fast deposits and withdrawals
  • Huge range of assets including 10,000 global stocks
  • Well-regulated and reputable brand with a solid client base
  • Excellent platform support with MetaTrader 4, MetaTrader 5 and IRESS
  • Low trading fees with spreads from 1 pip on the classic account and from zero with $7 round-turn commissions on the raw spread account
  • Good range of rewards and bonuses offered through a points-based loyalty system
  • Accommodates new and time-poor traders with copy trading support from HUBx
  • Free VPS for automated trading
Cons
  • Higher than average fees with spreads above 1 pip on forex during tests
  • Deposit and withdrawal fees apply if minimums are not met
  • Very basic education and market research that trails the best brokers
  • Low trust score with weak regulation
  • US traders not accepted
  • Shares are only available on the IRESS account, and not tradeable via MT4 and MT5
  • $30 fee levied monthly on accounts which are inactive for 6 months or have a balance below $500
FCA Regulated
No

List of FCA Regulated Brokers

No

List of FCA Regulated Brokers

Instruments
CFDs, Forex, Cryptos, Commodities CFDs, Stocks, Energies, Indices, Metals, Cryptos, Forex
Demo Account
Yes Yes
Minimum Deposit
$1 $100
Payment Methods
Minimum Trade
0.01 Lots 0.01 Lots
Regulator
SVG FSA ASIC, FMA, VFSC
Mobile Apps
iOS & Android iOS & Android
iOS App Rating
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Android App Rating
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Margin Trading
Yes Yes
MetaTrader 4
Yes Yes
MetaTrader 5
No Yes
cTrader
No No
AlgoTrader
No No
OmniTrader
No No
TradingView
No Yes
Autochartist
No No
eSignal
No No
Trading Central
No Yes
STP Account
No No
ECN Account
Yes Yes
DMA Account
No Yes
MAM Account
No Yes
PAMM Account
No Yes
LAMM Account
No No
Demat Account
No No
AI / Machine Learning
No No
Robo Advisor
No No
Negative Balance Protection
No Yes
Market Maker
No No
P2P Trading
No No
Spot Trading
No Yes
Auto Trading
Yes
Copy Trading
No Yes
Copy Trading Platform
Copy trading is available through HUBx, a service designed to help investors automatically mirror the positions of successful traders. This is ideal if you want hands-off access to popular financial markets.
Social Trading
No No
Trade Signals
MT4 Expert Advisors (EAs)
VPS Hosting
No Yes
Tournaments
No Yes
Demo Competitions
No No
Ethical Investing
No No
Custodial Account
No No
Guaranteed Stop Loss
No No
Islamic Account
Yes Yes
Account Currencies
  • USD
  • EUR
  • MYR
  • NGN
  • USD
  • EUR
  • GBP
  • CAD
  • AUD
  • NZD
Commodities
  • Oil
  • Silver
  • Natural Gas
  • Silver
  • Oil
  • Gold
  • Platinum
  • Natural Gas
CFD
FXCL offers 100+ contracts for difference spanning forex, indices and crypto. Traders get 24/5 customer support alongside fast execution speeds and a low minimum deposit of $1. Trade CFDs on a broad range of asset classes including forex, energies, precious metals, company shares, indices and cryptos. The excellent trade execution and opportunity to trade with direct market access pricing sets this broker apart from rivals.
Leverage
1:2000 1:500
FTSE Spread
130 4.0
GBPUSD Spread<
0.4 1.4
Oil Spread
5 0.0
Stocks Spread
N/A Variable
Forex
FXCL clients can trade more than 40 major, minor and exotic currency pairs with regular and ECN execution models on the MT4 platform. Spreads on currencies start from 0.1 pips. Trade 50+ forex pairs, including popular major, minor and exotic pairs. This is a decent selection, but traders will have a choice between the attractive MT4, MT5 or IRESS platforms and regulatory cover from ASIC. The VPS will also suit automated forex trading strategis.
Assets
43 50+
GBPUSD Spread
0.4 1.4
EURUSD Spread
0.1 0.3
EURGBP Spread
0.4 0.2
Cryptocurrency
FXCL supports trading on three cryptos (BTC, ETH and LTC), pegged against the US dollar. However, this is a very limited selection that doesn't rival the best crypto brokers. Trade CFDs on 12 major cryptocurrencies including BTC and ETH in pairs with USD and with leverage up to 1:20. The dozen tokens on offer is very respectable for a CFD broker, though crypto traders looking for emerging tokens will prefer an exchange or dedicated crypto broker.
Spread
Variable Variable
Coins
  • BTC
  • LTC
  • ETH
  • BTC
  • BCH
  • ETH
  • LTC
  • XRP
  • BNB
  • DOT
  • EOS
  • LINK
  • UNI
  • XTZ
  • XLM
Crypto Lending
No No
Crypto Mining
No No
Crypto Staking
No No
Auto Market Maker
No No
FXCL TMGM
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