Written by ForexBrokers.com
In this head to head comparison of TMGM vs Octa, we will compare the trading platforms, mobile apps, range of investments, costs, market research, and more. Let's dive in.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 51% and 89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
When comparing online brokers TMGM and Octa, several factors like regulatory licenses and trust scores are crucial for potential investors. Founded in 2013, TMGM is not publicly traded and does not operate as a bank. It holds two Tier-1 licenses, reflecting a high level of trust according to ForexBrokers.com, and boasts a Trust Score of 83 out of 99, classifying it as a trusted broker. In contrast, Octa, founded in 2011, also is not publicly traded and isn't a bank. It holds one Tier-1 license and one Tier-2 license, with a Trust Score of 72, indicating an average risk.
The licensing and trust score distinctions shed light on the relative reliability of these brokers. TMGM's possession of two top-tier licenses enhances its credibility among investors, aligning with its higher trust rating. Octa, on the other hand, balances its single high-trust Tier-1 license with an additional Tier-2 license, catering to investors who understand its modestly higher risk profile compared to TMGM. Whether you prioritize a strong regulatory framework or a diverse licensing setup, both brokers offer unique advantages for different trading strategies.
| Feature |
TMGM
|
Octa
|
|---|---|---|
| Year Founded | 2013 | 2011 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 2 | 1 |
| Tier-2 Licenses | 0 | 1 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 2 | 1 |
When comparing the commission and fee structures of TMGM and Octa for forex trading, both brokers offer competitive scenarios, yet divergences exist in their account options and cost specifics. TMGM offers two main account types: the spread-only Classic account and the commission-based Edge account. The Edge account, preferred by many for its cost-effectiveness, charges a minimal commission of $3.50 per side with low prevailing spreads, offering favorable conditions for traders seeking low-cost execution. However, a lack of recent average spread data for popular pairs like the EUR/USD may limit transparency in understanding overall trading costs. TMGM has earned a 4-star rating for commissions and fees, with a ranking of 36th out of 63 brokers according to ForexBrokers.com.
Octa, on the other hand, has made significant progress in its pricing model and is now within reach of the lowest-cost MetaTrader brokers. Octa excels by offering no slippage on 97.5% of its orders and waiving overnight carry costs, building a more attractive environment for many traders. Account fees and spreads at Octa can vary based on the regulatory entity overseeing the client's account. While European clients have a single MT5 account option with an average spread of 0.5 pips for EUR/USD, international clients may have wider spreads depending on the entity and platform used. Despite lacking specific date ranges for its spread data, Octa has improved in cost competitiveness and shares TMGM's 4-star rating but ranks slightly higher at 29th among brokers assessed by ForexBrokers.com.
Both TMGM and Octa have tailored their offerings to appeal to different segments of traders, with nuances in their fee structures that reflect the geographical and platform preferences of their clients. While TMGM's transparent commission approach and Octa's innovative pricing improvements present strong cases, potential traders should carefully consider spread data availability, specific account conditions, and individual trading needs to make an informed decision.
| Feature |
TMGM
|
Octa
|
|---|---|---|
| Minimum Deposit | $100 | $25 |
| Average Spread EUR/USD - Standard | N/A | 0.9 |
| All-in Cost EUR/USD - Active | N/A | N/A |
| Active Trader or VIP Discounts | No | No |
| ACH or SEPA Transfers | No | No |
| PayPal (Deposit/Withdraw) | Yes | No |
| Skrill (Deposit/Withdraw) | Yes | Yes |
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
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When it comes to comparing the range of investments available through TMGM and Octa, both online brokers provide forex trading options as CFDs or spot contracts. However, TMGM significantly outpaces Octa in terms of the breadth of tradeable symbols, offering 12,000 compared to Octa’s 300. In the realm of forex pairs, TMGM also holds a larger portfolio of 62 pairs, while Octa offers 35. Neither broker provides direct access to U.S.-listed exchange securities like Apple shares, but Octa stands out by offering international securities such as shares from the London Stock Exchange, a feature TMGM lacks.
Both brokers accommodate traders interested in copy trading and offer cryptocurrency derivatives, albeit without allowing for the purchase of actual cryptocurrencies. This selection of investment options earns TMGM a higher rating of 4.5 stars for its Range of Investments, as rated by ForexBrokers.com. It positions TMGM at #17 out of 63 brokers, whereas Octa holds a 3.5-star rating, ranking at #52. While both are viable platforms, TMGM presents a more comprehensive selection of trading instruments for those seeking diverse trading possibilities.
| Feature |
TMGM
|
Octa
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 12000 | 300 |
| Forex Pairs (Total) | 62 | 35 |
| U.S. Stock Trading (Non CFD) | No | No |
| Int'l Stock Trading (Non CFD) | No | Yes |
| Social Trading / Copy Trading | Yes | Yes |
| Cryptocurrency (Physical) | No | No |
| Cryptocurrency (Derivative) | Yes | Yes |
| Disclaimers | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). |
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When comparing the trading platforms and tools offered by TMGM and Octa, both brokers provide essential features that are appealing to traders at different levels. TMGM and Octa both offer simulated trading through free virtual demo accounts, allowing users to practice and refine their trading strategies without financial risks. A key distinction is that Octa offers a proprietary trading platform developed in-house, while TMGM relies on external platforms for trading. Both brokers support popular platforms like MetaTrader 4 (MT4) and MetaTrader 5 (MT5), along with a Windows-based desktop download, web-based trading access, and copy trading capabilities.
Both TMGM and Octa offer the ability to trade directly from stock charts, featuring 15 drawing tools for charting, and each broker supports seven columns for watch lists. However, despite these comprehensive offerings, TMGM’s ranking for trading platforms and tools is #48 out of 63 brokers as rated by ForexBrokers.com, slightly behind Octa, which is ranked #37. Both brokers receive a four-star rating in this category, indicating a strong platform experience but also hinting at areas for potential improvement to meet the needs of all traders effectively.
| Feature |
TMGM
|
Octa
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | No | Yes |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | Yes | Yes |
| MetaTrader 4 (MT4) | Yes | Yes |
| MetaTrader 5 (MT5) | Yes | Yes |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 30 | 30 |
| Charting - Drawing Tools (Total) | 15 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 7 | 7 |
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When it comes to mobile trading, both TMGM and Octa offer comprehensive apps for iPhone and Android users. These platforms include essential features such as stock or forex price alerts, the ability to draw trendlines, and the option to view multiple time frames on charts. Each app provides 30 technical studies for in-depth analysis and automatically saves your chart drawings. Trader-friendly features like creating watchlists with real-time quotes are available with both apps, ensuring you can keep track of your favorite stocks or forex pairs efficiently.
While both TMGM and Octa score 4 out of 5 stars for their mobile trading apps, there are some differences in rankings. According to ForexBrokers.com, Octa edges out at #36, compared to TMGM's #47, out of 63 brokers in the Mobile Trading Apps category. However, neither platform supports watchlist symbol syncing, so you're required to manually update your lists on each device. Overall, both brokers provide solid mobile trading experiences, equipped with numerous tools to help you make informed trading decisions on the go.
| Feature |
TMGM
|
Octa
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | No | No |
| Mobile Charting - Indicators / Studies | 30 | 30 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | Yes | Yes |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
When it comes to market research features, both TMGM and Octa provide daily market commentary and forex news from reputable sources like Bloomberg and Reuters. However, the offerings diverge when it comes to specialized tools. Octa stands out with the inclusion of Autochartist tools, which TMGM does not offer. Conversely, TMGM takes the lead with support from Trading Central, providing technical analytics that Octa doesn't feature. Additionally, TMGM offers a sentiment-based trading tool for gauging currency pair positions and tools from Acuity Trading, giving it a unique edge in these areas.
Both platforms keep their users informed with economic calendars showing global economic events, though Octa's overall market research rating slightly surpasses TMGM's with 4 stars compared to 3.5 stars. In a broader evaluation of research offerings across 63 brokers, TMGM ranks much lower at #53, while Octa secures a higher position at #27. These rankings suggest that each broker has specific strengths, and the right choice depends on which tools and research features are most important to the user.
| Feature |
TMGM
|
Octa
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | No | Yes |
| Trading Central (Recognia) | Yes | No |
| Social Sentiment - Currency Pairs | Yes | No |
| TipRanks | No | No |
| Signal Centre (Acuity Trading) | Yes | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When it comes to educational resources tailored for beginners, Octa stands out compared to TMGM. Octa offers a wide selection of over 10 educational pieces, including articles, videos, and archived webinars, focusing on forex and CFDs, which are valuable for new traders. In addition, Octa provides at least one live educational webinar each month, allowing beginners to engage and learn in real-time. TMGM, on the other hand, falls short in this area, with less comprehensive educational content catered specifically to newcomers in trading.
For those seeking in-depth video tutorials, Octa again proves advantageous, offering more than 10 beginner-focused educational videos, as well as advanced content for seasoned traders. While both TMGM and Octa provide searchable archives of past webinars and maintain investor dictionaries with at least 50 investing terms, Octa’s broader range of beginner resources and higher educational quality earns it a slightly higher rating, with 4 stars compared to TMGM's 3.5 stars. This commitment to educating its users places Octa in a higher rank, with ForexBrokers.com positioning it at #42 out of 63 brokers, compared to TMGM's rank of #54.
| Feature |
TMGM
|
Octa
|
|---|---|---|
| Education (Forex or CFDs) | No | Yes |
| Client Webinars | No | Yes |
| Client Webinars (Archived) | Yes | Yes |
| Videos - Beginner Trading Videos | No | Yes |
| Videos - Advanced Trading Videos | No | Yes |
| Investor Dictionary (Glossary) | Yes | Yes |
Dive deeper: Best Forex Brokers for Beginners.
After testing 63 of the best forex brokers, our research and account testing finds that TMGM is better than Octa. TMGM finished with an overall rank of #37, while Octa finished with an overall rank of #47.
TMGM stands out for its impressive education toolset, though it still trails behind the best brokers in most categories. TMGM offers a small range of markets via the MetaTrader 4 (MT4) platform. While primarily a MetaTrader broker, it also offers the more exclusive IRESS platform – though the platform-specific requirements will limit who can use it.
| Feature |
TMGM
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Octa
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|---|---|---|
| Overall Rating |
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| Trust Score | 83 | 72 |
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TMGM and Octa both do not offer the ability to buy actual delivered cryptocurrency, but they each provide options for trading cryptocurrency derivatives.
Comparing online brokers, TMGM and Octa both do not provide ACH or SEPA transfers for account deposits or withdrawals, while TMGM offers PayPal as a payment option, unlike Octa; both platforms accept Skrill and major credit cards such as Visa and Mastercard, as well as bank wire transfers for handling account funds.
Please note:
We review each broker’s overall global offering – a “Yes” checkmark in our Compare Tool does not guarantee the availability of any specific features in your country of residence. To verify the availability of any features within your country of residence, please contact the broker directly.
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0 of 5| Overall Rating | TMGM | Octa | |
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| Trust Score | 83 | 72 | |
| Winner | check_circle | ||
| Review | TMGM Review | Octa Review |
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| Regulation | TMGM | Octa | |
|---|---|---|---|
| Trust Score | 83 | 72 | |
| Year Founded | 2013 | 2011 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | No | Yes | |
| Tier-1 Licenses | 2 | 1 | |
| Tier-2 Licenses | 0 | 1 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 2 | 1 |
| Tier-1 Licenses (Highly Trusted) | TMGM | Octa | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | No | |
| Canada (CIRO Authorised) | No | No | |
| Hong Kong (SFC Authorised) | No | No | |
| Japan (SFC Authorised) | No | No | |
| Singapore (MAS Authorised) | No | No | |
| Switzerland (FINMA Authorised) | No | No | |
| United Kingdom (U.K.) (FCA Authorised) | No | No | |
| USA (CFTC Authorized) | No | No | |
| New Zealand (FMA Authorised) | Yes | No | |
| Regulated in one or more EU or EEA countries (MiFID). | No | Yes |
| Tier-2 Licenses (Trusted) | TMGM | Octa | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | Yes | |
| UAE (DFSA/Central Bank Authorised) | No | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | TMGM | Octa | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 12000 | 300 | |
| Forex Pairs (Total) | 62 | 35 | |
| U.S. Stock Trading (Non CFD) | No | No | |
| Int'l Stock Trading (Non CFD) | No | Yes | |
| Social Trading / Copy Trading | Yes | Yes | |
| Cryptocurrency (Physical) | No | No | |
| Cryptocurrency (Derivative) | Yes | Yes | |
| Disclaimers | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). |
| Cost | TMGM | Octa | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | N/A | 0.9 | |
| All-in Cost EUR/USD - Active | N/A | N/A | |
| Active Trader or VIP Discounts | No | No | |
| Inactivity Fee | Yes | No | |
| Execution: Agency Broker | Yes | Yes | |
| Execution: Market Maker | Yes | Yes |
| Funding | TMGM | Octa | |
|---|---|---|---|
| Minimum Deposit | $100 | $25 | |
| PayPal (Deposit/Withdraw) | Yes | No | |
| Skrill (Deposit/Withdraw) | Yes | Yes | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | No | No |
| Trading Platforms | TMGM | Octa | |
|---|---|---|---|
| Proprietary Platform | No | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | Yes | |
| MetaTrader 4 (MT4) | Yes | Yes | |
| MetaTrader 5 (MT5) | Yes | Yes | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | TMGM | Octa | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 7 | 7 | |
| Charting - Indicators / Studies (Total) | 30 | 30 | |
| Charting - Drawing Tools (Total) | 15 | 15 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | TMGM | Octa | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | No | No | |
| Mobile Charting - Indicators / Studies | 30 | 30 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | Yes | Yes | |
| Mobile Economic Calendar | Yes | Yes |
| Research | TMGM | Octa | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | No | Yes | |
| Trading Central (Recognia) | Yes | No | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | No | |
| Economic Calendar | Yes | Yes |
| Education | TMGM | Octa | |
|---|---|---|---|
| Education (Forex or CFDs) | No | Yes | |
| Client Webinars | No | Yes | |
| Client Webinars (Archived) | Yes | Yes | |
| Videos - Beginner Trading Videos | No | Yes | |
| Videos - Advanced Trading Videos | No | Yes | |
| Investor Dictionary (Glossary) | Yes | Yes |
| Major Forex Pairs | TMGM | Octa | |
|---|---|---|---|
| GBP/USD | Yes | Yes | |
| USD/JPY | Yes | Yes | |
| EUR/USD | Yes | Yes | |
| USD/CHF | Yes | Yes | |
| USD/CAD | Yes | Yes | |
| NZD/USD | Yes | Yes | |
| AUD/USD | Yes | Yes | |
| Review | TMGM Review | Octa Review |
| Overall | TMGM | Octa | |
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| Trust Score | 83 | 72 | |
| Winner | check_circle | ||
| Review | TMGM Review | Octa Review |
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