Pepperstone vs TMGM 2026
By Akash · Facts last confirmed (UTC) · 44 of 50 facts confirmed on the brokers’ own pages
Pepperstone has the higher TFB Score (92/100 vs 65/100). Pepperstone is regulated by FCA, ASIC, CySEC; TMGM by ASIC, VFSC, FSA. TFB Score: Pepperstone 92/100, TMGM 65/100.
Pepperstone is a CFD broker founded in Melbourne in 2010, offering Standard and Razor accounts on its own platform, MT4, MT5, TradingView and cTrader, through entities regulated by the FCA, ASIC, CySEC, DFSA and the Securities Commission of The Bahamas.
73.6% 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 | Pepperstone | TMGM |
|---|---|---|
| TFB Score | 92/100â–² | 65/100 |
| Regulation & safety | 34/35â–²3 tier-1 regulators (FCA, ASIC, CySEC), investor compensation | 23/351 tier-1 regulator (ASIC), client money kept apart |
| Fees & costs | 22/25â–²All-in cost from 0.70 pips | 13/25Spreads and commission not published (counted as neutral) |
| Deposits & withdrawals | 17/20â–²Minimum deposit $10 (no minimum for domestic bank transfers), 10 deposit methods, 10 withdrawal methods | 14/20Minimum deposit $100 (EDGE and CLASSIC), 3 deposit methods |
| Platforms & trading | 19/20â–²MT4, MT5, cTrader, TradingView; leverage up to 1:200 for retail clients on FX (under its CMA licence, per its UAE pricing page) | 15/20MT4, 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 | FCA, ASIC, CySEC, DFSA, SCB | ASIC, VFSC, FSA, FSA Seychelles, FSC Mauritius, FSC |
| Minimum deposit | $10 (no minimum for domestic bank transfers) | $100 (EDGE and CLASSIC) |
| Spreads from | 0.0 pips (Razor, FX) | Not published |
| Commission | USD 3.50 per lot per side (Razor, FX and spot gold) | Not published |
| Max leverage | 1:200 for retail clients on FX (under its CMA licence, per its UAE pricing page) | up to 1:1000 (international entities; 1:30 for the Australian entity) |
| Platforms | ||
| Withdrawal methods | Apple Pay, Google Pay, Visa, Mastercard, Bank transfer, PayPal, Neteller, Skrill, Crypto, Union Pay (UPOP) | Not published |
| Retail accounts losing money | 73.6% | Not published |
Facts from each broker's own website and the regulators' registers. Full sources are on each review: Pepperstone review · TMGM review.
Frequently asked questions
Short answers, from the facts shown on this page.
Is Pepperstone or TMGM better?
Pepperstone has the higher TFB Score (92/100 vs 65/100). The best choice depends on your country, platform and payment method.
Are Pepperstone and TMGM regulated?
Pepperstone: FCA, ASIC, CySEC, DFSA, SCB. TMGM: ASIC, VFSC, FSA, FSA Seychelles, FSC Mauritius, FSC. Every licence is linked to the regulator's register on each review.
Which is safer, Pepperstone or TMGM?
Pepperstone holds 3 tier-1 licences (FCA, ASIC and 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 Pepperstone and TMGM?
Pepperstone: $10 (no minimum for domestic bank transfers). TMGM: $100 (EDGE and CLASSIC). Pepperstone asks for less to start.
Do Pepperstone and TMGM offer MetaTrader and TradingView?
Both offer MetaTrader 4 and MetaTrader 5. Pepperstone: Pepperstone platform, MT4, MT5, TradingView, cTrader. TMGM: MT4, MT5.
What is the maximum leverage at Pepperstone and TMGM?
Pepperstone: 1:200 for retail clients on FX (under its CMA licence, per its UAE pricing page). 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 Pepperstone 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 Pepperstone, 73.6% 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