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Broker Comparison

TMGM vs XM

Side-by-side comparison of TMGM and XM on every dimension professional traders care about — from fees and leverage to regulators, scalping rules, and EA support. Updated May 2026.

Reviewed & ranked byTradingEdge IC License — Investment Consultant (Thai SEC) Strategic Partner of Top-Tier Brokers
Published April 1, 2026·Last updated May 3, 2026·See our review methodology
TM
TMGM
⭐ 4.0 · Sydney, Australia

TMGM (TradeMax Global Markets) is an Australian broker founded in 2013 in Sydney, focused on multi-asset trading: Forex, Stocks, Crypto, Indices. Famous for ECN execution and 12,000+ stock CFDs.

$9.4/lotSpread 0p1:500
Open account TMGMRead full review →
winner
XM
XM
⭐ 4.4 · Limassol, Cyprus

XM is one of the largest forex brokers with 10+ million clients in 196 countries. Famous for its $30 No Deposit Bonus and free educational content for new traders.

$11/lotSpread 0.6p1:1000
Open account XMRead full review →
Verdict

XM wins 7/13 categories — the better all-round choice.

TMGM: 3 · XM: 7 · tied: 3
FieldTMGMXM
Rebate per lot$9.40 / lot$11 / lot
Spread from0 pips0.6 pips
Execution speed45 ms65 ms
Max leverage1:5001:1000
Min deposit$100$5
User rating4.0 / 5 (1,245)4.4 / 5 (4,310)
Trust score8.05 / 108.50 / 10
Execution typeECN / DMAMarket Execution / NDD
Liquidity providers17+12+
RegulatorsASIC (AU) #436416 · FMA (NZ) #FSP345553 · VFSC (VU) #40356ASIC (AU) #443670 · CySEC (CY) #120/10 · IFSC (BZ) #000261/397
PlatformsMT4 · MT5 · IRESS · TMGM MobileMT4 · MT5 · XM WebTrader · XM Mobile
Payout frequencyทุก 2 วันรายวัน
Withdrawal time1-4 ชม.ภายใน 24 ชม.
Swap-free / Islamic—✓
Scalping allowed✓✓
EA / algo allowed✓✓
Negative balance protection✓✓
Strengths of TMGM
  • 12,000+ stock CFDs — biggest selection
  • ECN execution under 35ms
  • ASIC + FMA regulation
  • IRESS Pro included
  • No deposit bonus
  • Spread wider than IC Markets / Pepperstone
Strengths of XM
  • $30 No Deposit Bonus — start risk-free
  • 10M+ clients, established brand
  • Multiple regulators (CySEC, ASIC, FSC, DFSA)
  • Strong Thai-language support
  • Spread wider than ECN competitors
  • Rebates paid monthly (not daily)

Other comparisons traders look at

TMGM vs HF MarketsXM vs HF MarketsTMGM vs IC MarketsXM vs IC Markets
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