TMGM vs Windsor Brokers Forex Broker Comparison
A head-to-head comparison of TMGM and Windsor Brokers across regulation, trading costs, platforms, and editorial scoring.
ASIC-regulated Australian broker with 10,000+ instruments including DMA equities, well-positioned for Asian traders who want Australian regulatory standards alongside a broad asset range.
VS
Score 4 / 5
2 bonusesOne of the longest-operating CySEC-regulated brokers, offering standard and ECN accounts on MT4 and MT5 - a solid EU retail offering backed by a track record few Cyprus-based competitors can match.
Our Verdict
Too close to call
TMGM and Windsor Brokers are extremely closely matched with scores of 4/5 and 4/5. The right choice depends on your individual trading priorities.
Verdict by Trader Profile
Which broker wins for each type of trader, based on costs, safety, platforms, and editorial scoring.
Best for low cost trading
It's a tie
Both equally suited
Both brokers offer spreads from 0 pips.
Best for safety & regulation
It's a tie
Both equally suited
Both brokers show an equally strong safety profile across regulation, fund protection, and client safeguards.
Best for beginners
It's a tie
Both equally suited
Both brokers share the same editorial score of 4/5 and the same minimum deposit requirement, making them equally suited for new traders.
TMGM vs Windsor Brokers: Side-by-Side Forex Broker Comparison
Score
= highlighted score shows which broker leads in that category| Editorial score | 4.0/ 5 | 4.0/ 5 |
|---|---|---|
| Score Breakdown | ||
Trust & Regulation 40% weight | 4.3 / 5▲ | 4.2 / 5 |
Fees & Spreads 30% weight | 4.3 / 5▲ | 4.0 / 5 |
Platforms & Tools 20% weight | 4.2 / 5▲ | 3.8 / 5 |
Customer Support 10% weight | 4.1 / 5▲ | 4.0 / 5 |
| Founded | 2013 | 1988 |
| Headquarters | Melbourne, Australia | Nicosia, Cyprus |
| Min deposit | $100 | $100 |
| Spreads from | 0 pips | 0 pips |
| Commission / lot | $7/lot | $8/lot |
| Max leverage | 500:1 | 500:1 |
| Withdrawal fee | Free | Free |
| Regulators | ASIC VFSC | FSCA CySEC |
| Platforms | MetaTrader 4 MetaTrader 5 IRESS | MetaTrader 4 MetaTrader 5 |
| Active bonuses | ||
| Visit broker | Visit TMGM | Visit Windsor Brokers |
TMGM vs Windsor Brokers Forex Broker Pros & Cons
Pros
10,000+ instruments including real equities via IRESS DMA
ASIC regulated - Tier 1 Australian investor protections
ECN Edge account: raw spreads from 0.0 pips at $7 commission
Strong multilingual support for Asian clients
Client funds held in segregated accounts
Negative balance protection
No deposit fees
No inactivity fee
MetaTrader 4 and MetaTrader 5 supported
Mobile trading app available
Advanced charting tools included
Transparent pricing with clear cost disclosure
24/5 live chat support
Phone support available
Pros
35+ years of continuous operation - one of the longest track records in retail forex
CySEC regulated with EU investor protections
ECN Zero account from 0.0 pips + $8 commission
Islamic swap-free accounts available
Client funds held in segregated accounts
Negative balance protection
Investor compensation scheme coverage
No deposit fees
No inactivity fee
MetaTrader 4 and MetaTrader 5 supported
Mobile trading app available
Transparent pricing with clear cost disclosure
24/5 live chat support
Phone support available
Multilingual customer support
Cons
$100 minimum deposit on standard accounts
Less brand recognition than IC Markets or Pepperstone in Australia
IRESS DMA platform requires separate setup
No investor compensation scheme
No proprietary platform
Cons
Platform limited to MT4 and MT5 - no cTrader or proprietary option
$100 minimum deposit on standard accounts
ECN commission slightly above IC Markets and Pepperstone
No top-tier regulatory licence
Limited charting capabilities
TMGM vs Windsor Brokers: Detailed Category Breakdown
A closer look at the specific criteria each broker meets or misses within each scoring category.
2
TMGM
criteria wins
1
Windsor Brokers
criteria win
Highlighted rows show where the two brokers differ
| Criteria | TMGM | Windsor Brokers |
|---|---|---|
| Trust & Regulation | ||
| Top-tier regulator (FCA, ASIC, CFTC, etc.) | Pass | Fail |
| Segregated client funds | Pass | Pass |
| Negative balance protection | Pass | Pass |
| Compensation scheme (e.g. FSCS) | Fail | Pass |
| Fees & Spreads | ||
| Raw/ECN spreads available | Pass | Pass |
| No deposit fee | Pass | Pass |
| No inactivity fee | Pass | Pass |
| Transparent pricing page | Pass | Pass |
| Platforms & Tools | ||
| MT4/MT5 available | Pass | Pass |
| Proprietary platform | Fail | Fail |
| Mobile app | Pass | Pass |
| Advanced charting tools | Pass | Fail |
| Customer Support | ||
| 24/5 live chat | Pass | Pass |
| Phone support | Pass | Pass |
| Multilingual support | Pass | Pass |
TMGM vs Windsor Brokers: Frequently Asked Questions
TMGM and Windsor Brokers share the same editorial score of 4/5. The right choice depends on your priorities: trading costs, platform preference, or regulatory coverage.
Both TMGM and Windsor Brokers offer spreads starting from 0 pips, making them equivalent on this metric. Consider commissions and account types when evaluating total trading costs.
Both TMGM and Windsor Brokers require a minimum deposit of $100 to open a live trading account.
TMGM holds top-tier regulation (ASIC, VFSC), providing stronger investor protections. Windsor Brokers may be regulated but does not hold top-tier status in our data. Always verify regulatory status with the broker directly before depositing funds.
For beginners: both brokers offer negative balance protection. Also weigh up educational resources and customer support quality before deciding.
TMGM offers maximum leverage of 500:1, while Windsor Brokers offers up to 500:1. Available leverage varies by account type, instrument, and jurisdiction. Higher leverage amplifies both potential profits and losses. Always use appropriate risk management.
TMGM charges $7 per lot, lower than Windsor Brokers's $8 per lot. Lower commissions benefit active traders who execute many trades per day.
TMGM supports MetaTrader 4, MetaTrader 5, IRESS and Windsor Brokers offers MetaTrader 4, MetaTrader 5; both support MetaTrader 4, MetaTrader 5; TMGM exclusively offers IRESS.
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Score 4 / 5
Score 4 / 5
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