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Firstrade vs TMGM : Fees, Safety & Trading Conditions Compared (2026)
Broker Name
Firstrade
TMGM
Broker Overview
Broker Type (e.g., Market Maker, ECN/STP)
STP broker
ECN broker
Years of Existence / Established Year
1985
2013
Customer Base / Number of Accounts
1Million
No information
Regulation & Security
Regulations (governing bodies)
FINRA, SEC
ASIC, VFSC and FSC
Awards Won (count for the last 2 years)
Best Online Brokers, Best for Options Traders award.
Most Trusted Forex Broker 2024, Best Forex Trading Platform 2024, SkyLine Guide 2024 Award, Most Innovative Sports Sponsorship 2024, Brokersview Fastbull 2024 Award
Security Measures
SIPC
Civil Liability Insurance program for a limit of $10,000,000
SSL Encryption / 2FA
Yes
Yes
Segregated Funds
Yes
Yes
Negative Balance Protection
No
Yes
Trading Instruments/Products Offered
Assets Types / Trading Instruments (total count and breakdown)
2200+ ETFs including CDs, Treasury bills, Notets and bonds, Primary market CDs, Zeros and strips and more
12,000 instruments including shares
Currency Pairs
No
Yes
Commodities
No
Yes
Indices
Yes- Through ETFs
Yes
Cryptocurrencies
Yes- Through ETFs
Yes
CFDs
No
Yes
ETFs
Yes
Yes
Stocks
Yes
Yes
Options
Yes
No
Futures
No
Yes
Bonds
Yes
No
Mutual Funds
Yes
No
Fractional Shares
Exchange Traded Notes (ETNs)
Yes
No
Precious Metals
No
Yes
Real Estate Investment Trusts (REITs)
Yes
No
Equities
No
Yes
Trading Platforms & Technology
Trading Platform Availability
Yes
Yes
MT4
No
Yes
MT5
Yes
Yes
cTrader
No
No
Social Trading
Yes
Copy Trading
No
Yes
Other Trading Platforms (proprietary, etc.)
Firstrade platform
TMGM app
Platform Compatibility (Windows, Mac, iOS, Android)
Yes
Yes
Account Types & Conditions
Account Types (Retail, Pro, VIP, etc.)
Brokerage account- Individual, Joint, Custodial, Retirement- Retirement (Traditional IRA, Roth IRA, SEP IRA), Corporate, Trust, International, Education Planning, Business Planning
Edge and classic account
Demo Account (Yes/No)
No
Yes
Islamic Accounts (Yes/No)
No
Yes
Minimum Deposit
$0
$100
Leverage Available
No
1:100 to 1:1000
Trade Limit (maximum per trade)
Depends on asset class
Depends on the assets type
Commission (per account type)
$0
Currency Pairs: $7 ; Precious Metals: $5
Best Suited For (e.g., beginners, experienced traders)
Both beginners and experienced traders
Experienced traders
Deposit & Withdrawal Options
Deposit Methods
Wire Fund Transfer, Check deposit, Asset transfer, ACH electronic transfer
Visa, Mastercard, Bank transfer, RMB instant, Revolute, Wise, e-wallets
Withdrawal Methods
Wire Fund Transfer, Check Deposit, Asset transfer, ACH electronic transfer, Withdrawal of sales proceed
Visa, Mastercard, Bank transfer, RMB instant, Revolute, Wise, e-wallets
Other E-Wallets Supported
No
Skrill, Neteller.SticPay, FasaPay, UnionPay
Tools & Educational Resources
Economic Calendar
Yes
Yes
Tools & Educational Resources (tutorials, webinars, market news, etc.)
Education Center, Investment Education Videos, Option Guide, Margin Guide, Webinars, Tax center, Blogs, Upcoming IPOs
Market analysis, Traders terminology, Trading tools
Fees & Commissions
Trading-Related Fees
Commission for stocks, ETFs, Options, Mutual funds- $0, Fixed income- Treasury Bills, Notes & Bonds, Municipal Bonds, Agency Bonds, Secondary Market CDs, Zeros & Strips- Net yield basis, Primary Market CDs- $30, Broker-Assisted Stock & Options Trades- $19.95 (+$0.50/Contract)
Currency Pairs: $7 USD ; Precious Metals: $5 USD, Spread-0.0pips
Spread (typical, fixed, variable)
Typical
variable/floating spread
Per Lot Fees
NA
NA
Options Contract Fees
$0
NA
Futures Contract Fees
NA
NA
Markup Fees on Spread
NA
NA
Guaranteed Stop Loss Fees
NA
NA
Maximum Leverage
No
1:1000
Non-Trading Fees
Dormant Fees
$0
$30 per month after 6 months of inactivity
Subscription Fees (for premium features, data feeds)
NA
NA
Advisory Fees
0.20-0.30%
NA
Swap Fees (Overnight Financing)
NA
Yes
Statement or Document Fee
$2-$5
NA
Account Opening Fee
$0
NA
Account Maintenance Fee
$0
NA
Deposit Fee
$0
$0
Currency Conversion Fee
3%
Charges not mentioned, May apply for non-USD deposits
Withdrawal Fee
$25-$75
$0
Bonuses, Promotions & Benefits
Bonuses, Promotions, and Referrals
Yes
Yes
Customer Benefits (e.g., Retirement Plan)
Yes
No
Trading Hours
Trading Hours (for each asset class if applicable)
Pre-Market: 8:00 AM to 9:30 AM ET Regular Market: 9:30 AM to 4:00 PM ET After-Hours: 4:05 PM to 8:00 PM ET
Depends on the assets type
Customer Support
Support Hours (e.g., 24/7, weekdays only)
Monday - Friday,10am - 4pm ET
24/7
Customer Support Methods (phone, email, live chat)
Phone: U.S. Toll Free: 1-800-869-8800, Outside the US: 1-718-961-6600, E-mail, FAQ, Fax: 1-718-961-3919
Phone +61 2 8036 8388, Fax +61 2 8036 8388, Email [email protected], Live chat
Support Languages
3
15+
Additional Information
Headquarters Location
30-50 Whitestone Expwy. Ste. A301 Flushing, NY 11354
100 Barangaroo Ave., Level 28, Tower One, Sydney NSW 2000, Australia.
Complaints (for crypto brokers)
No
No
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