Saxo vs TMGM 2026
By Akash · Facts last confirmed (UTC) · 39 of 44 facts confirmed on the brokers’ own pages
Saxo has the higher TFB Score (76/100 vs 65/100). Saxo is regulated by Danish FSA, FCA; TMGM by ASIC, VFSC, FSA. TFB Score: Saxo 76/100, TMGM 65/100.
Saxo is a Danish bank founded in Copenhagen in 1992 (Saxo Bank A/S, Danish FSA licence 1149); UK clients use Saxo Capital Markets UK Ltd (FCA 551422). It offers Classic, Platinum and VIP tiers on SaxoTrader, SaxoInvestor and TradingView, with no minimum deposit.
66% 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 | Saxo | TMGM |
|---|---|---|
| TFB Score | 76/100â–² | 65/100 |
| Regulation & safety | 32/35â–²2 tier-1 regulators (Danish FSA, FCA), investor compensation | 23/351 tier-1 regulator (ASIC), client money kept apart |
| Fees & costs | 18/25â–²Spreads from 1 pips; commission not comparable in USD per lot | 13/25Spreads and commission not published (counted as neutral) |
| Deposits & withdrawals | 14/20Minimum deposit No minimum deposit (individual account), 3 deposit methods, 1 withdrawal method | 14/20Minimum deposit $100 (EDGE and CLASSIC), 3 deposit methods |
| Platforms & trading | 12/20TradingView; leverage up to 3.33% initial margin on EURUSD for retail clients (about 1:30) | 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 | Danish FSA, FCA | ASIC, VFSC, FSA, FSA Seychelles, FSC Mauritius, FSC |
| Minimum deposit | No minimum deposit (individual account) | $100 (EDGE and CLASSIC) |
| Spreads from | 1 pip EUR/USD minimum (global page; varies by country) | Not published |
| Commission | USD 3 fixed commission on FX trades under 50,000 units | Not published |
| Max leverage | 3.33% initial margin on EURUSD for retail clients (about 1:30) | up to 1:1000 (international entities; 1:30 for the Australian entity) |
| Platforms | ||
| Withdrawal methods | Return to an account held in your name | Not published |
| Retail accounts losing money | 66% | Not published |
Facts from each broker's own website and the regulators' registers. Full sources are on each review: Saxo review · TMGM review.
Frequently asked questions
Short answers, from the facts shown on this page.
Is Saxo or TMGM better?
Saxo has the higher TFB Score (76/100 vs 65/100). The best choice depends on your country, platform and payment method.
Are Saxo and TMGM regulated?
Saxo: Danish FSA, FCA. TMGM: ASIC, VFSC, FSA, FSA Seychelles, FSC Mauritius, FSC. Every licence is linked to the regulator's register on each review.
Which is safer, Saxo or TMGM?
Saxo holds 2 tier-1 licences (Danish FSA and FCA); 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 Saxo and TMGM?
Saxo: No minimum deposit (individual account). TMGM: $100 (EDGE and CLASSIC).
Do Saxo and TMGM offer MetaTrader and TradingView?
Saxo: SaxoTrader, SaxoInvestor, TradingView. TMGM: MT4, MT5.
What is the maximum leverage at Saxo and TMGM?
Saxo: 3.33% initial margin on EURUSD for retail clients (about 1:30). 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 Saxo 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 Saxo, 66% 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