NAGA vs TMGM 2026
By Akash · Facts last confirmed (UTC) · 43 of 48 facts confirmed on the brokers’ own pages
NAGA has the higher TFB Score (79/100 vs 65/100). NAGA is regulated by CySEC, FSCA, ADGM FSRA; TMGM by ASIC, VFSC, FSA. TFB Score: NAGA 79/100, TMGM 65/100.
NAGA is the trading brand of The NAGA Group AG (Hamburg, founded 2015); EU clients trade CFDs through NAGA Markets Europe Ltd (CySEC 204/13) on the NAGA web and mobile apps and MetaTrader 5, with VIP tiers from Iron to Crystal.
77.41% of retail CFD accounts lose money with this provider.
TMGM is an Australian-founded CFD broker (since 2013) offering MetaTrader 4 and MetaTrader 5 with EDGE (spreads from 0.0 pips plus commission) and CLASSIC (spreads from 1.0 pips, no commission) accounts, operating through entities regulated by ASIC, the VFSC, the FSA Seychelles, the FSC Mauritius and the CMA Kenya.
Side by side
| Item | NAGA | TMGM |
|---|---|---|
| TFB Score | 79/100â–² | 65/100 |
| Regulation & safety | 28/35â–²1 tier-1 regulator (CySEC), investor compensation | 23/351 tier-1 regulator (ASIC), client money kept apart |
| Fees & costs | 22/25â–²All-in cost from 0.60 pips, no commission | 13/25Spreads and commission not published (counted as neutral) |
| Deposits & withdrawals | 16/20â–²Minimum deposit $50 (cards, Neteller, Skrill), 6 deposit methods | 14/20Minimum deposit $100 (EDGE and CLASSIC), 3 deposit methods |
| Platforms & trading | 13/20MT5; leverage up to 1:30 on major forex pairs for retail clients (NAGA Markets Europe Ltd, CySEC) | 15/20â–²MT4, MT5; leverage up to 1:1000 (international entities; 1:30 for the Australian entity) |
| Trader Score | No trader scores yet | No trader scores yet |
| Regulators | CySEC, FSCA, ADGM FSRA, FSA Seychelles | ASIC, VFSC, FSA, FSA Seychelles, FSC Mauritius, FSC |
| Minimum deposit | $50 (cards, Neteller, Skrill) | $100 (EDGE and CLASSIC) |
| Spreads from | 0.6 pips on EUR/USD | Not published |
| Commission | 2.50 per side on CFD stocks (the cost document lists no commission on forex CFDs) | Not published |
| Max leverage | 1:30 on major forex pairs for retail clients (NAGA Markets Europe Ltd, CySEC) | up to 1:1000 (international entities; 1:30 for the Australian entity) |
| Platforms | ||
| Retail accounts losing money | 77.41% | Not published |
Facts from each broker's own website and the regulators' registers. Full sources are on each review: NAGA review · TMGM review.
Frequently asked questions
Short answers, from the facts shown on this page.
Is NAGA or TMGM better?
NAGA has the higher TFB Score (79/100 vs 65/100). The best choice depends on your country, platform and payment method.
Are NAGA and TMGM regulated?
NAGA: CySEC, FSCA, ADGM FSRA, FSA Seychelles. TMGM: ASIC, VFSC, FSA, FSA Seychelles, FSC Mauritius, FSC. Every licence is linked to the regulator's register on each review.
Which is safer, NAGA or TMGM?
NAGA holds 1 tier-1 licence (CySEC); TMGM holds 1 (ASIC). Tier-1 regulators have the strictest rules on client money. Your protection depends on which company opens your account.
What is the minimum deposit at NAGA and TMGM?
NAGA: $50 (cards, Neteller, Skrill). TMGM: $100 (EDGE and CLASSIC). NAGA asks for less to start.
Do NAGA and TMGM offer MetaTrader and TradingView?
Both offer MetaTrader 5. NAGA: Trading Web App, iOS & Android Apps, MetaTrader 5. TMGM: MT4, MT5.
What is the maximum leverage at NAGA and TMGM?
NAGA: 1:30 on major forex pairs for retail clients (NAGA Markets Europe Ltd, CySEC). TMGM: up to 1:1000 (international entities; 1:30 for the Australian entity). Leverage depends on the company that opens your account and on your country.
More NAGA comparisons
More TMGM comparisons
Forex trading at these brokers is done through CFDs (contracts for difference): you trade on the price moving up or down, without owning the currency itself.Risk warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. At NAGA, 77.41% of retail investor accounts lose money when trading CFDs with that provider. You should consider whether you can afford to take the high risk of losing your money. Read the full risk warning