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City Index vs TMGM 2025

ForexBrokers.com

Written by ForexBrokers.com

February 05, 2025

In this head to head comparison of City Index vs TMGM, we will compare the trading platforms, mobile apps, range of investments, costs, market research, and more. Let's dive in.

City Index
5/5 Stars Overall
  • Minimum Deposit: £100.00
  • Trust Score: 99
  • Tradeable Symbols (Total): 13500
TMGM
4/5 Stars Overall
  • Minimum Deposit: $100
  • Trust Score: 83
  • Tradeable Symbols (Total): 12000

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 51% and 89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Regulation

City Index, established in 1983, is an online broker that stands out for being publicly traded. It holds an impressive seven Tier-1 licenses, making it highly trusted by industry standards as evidenced by its top-tier Trust Score rating of 99 from ForexBrokers.com. Although not a bank, its longstanding presence and regulatory backing place it in a strong position for those seeking a reliable trading platform.

Founded in 2013, TMGM is also a non-bank online broker but is not publicly traded. It holds two Tier-1 licenses, which align with a Trust Score of 83, deemed trustworthy by ForexBrokers.com but not in the top category like City Index. With no Tier-2 licenses, TMGM may appeal to traders looking for a trusted platform, though it doesn’t have the same level of regulatory credentials as City Index.

Feature City Index logoCity Index
TMGM logoTMGM
Year Founded info 1983 2013
Publicly Traded (Listed) info Yes No
Bank info No No
Tier-1 Licenses info 7 2
Tier-2 Licenses info 1 0
Tier-3 Licenses info 0 0
Tier-4 Licenses info 1 2

Fees

City Index and TMGM both aim to keep trading costs competitive, but they take different paths. City Index earns 4.5 out of 5 stars for commissions and fees and is ranked #15 out of 63 by ForexBrokers.com, while TMGM scores 4 out of 5 stars and ranks #37 out of 63. City Index’s pricing sits around the industry average with published spread data, whereas TMGM can be attractive via its commission-based Edge account but currently doesn’t publish recent average EUR/USD spread figures, making direct cost comparisons harder.

City Index’s best pricing is available on its proprietary platforms or MetaTrader. As of July 2023, its average EUR/USD spread was 0.74 pips—about in line with the market, though not as low as the very cheapest brokers. Active traders may qualify for the Premium Trader account with a £10,000+ deposit, unlocking exclusive pricing and dedicated service. For high-volume traders, rebates are available: in the U.K., professional clients start at £4 per million for monthly volumes above £25M and rise to £7.5 per million above £300M; in Australia, rebates range from AUD $4.5 to $14.5 per million depending on the tier.

TMGM’s costs depend on the account type. The Classic account is spread-only, while the Edge account charges a low $3.50 per side ($7 round trip) commission plus prevailing spreads, and advertises no requotes. Islamic (swap-free) accounts are available only on the Edge option. Because TMGM doesn’t provide recent average spread data for the EUR/USD, assessing true all-in costs is less straightforward than with brokers that publish average spreads.

Feature City Index logoCity Index
TMGM logoTMGM
Minimum Deposit info £100.00 $100
Average spread (EUR/USD) - Standard account info 1.4 info N/A info
All-in Cost EUR/USD - Active info 0.9 info N/A info
Non-wire bank transfer info Yes No
PayPal (Deposit/Withdraw) info Yes
Skrill (Deposit/Withdraw) info No
Bank Wire (Deposit/Withdraw) info Yes

Dive deeper: Best Low Spread Forex Brokers.

Featured Offers


Range of investments

City Index offers 13,500 tradeable instruments compared with TMGM’s 12,000, and 66 forex pairs versus 62 at TMGM. In ForexBrokers.com’s Range of Investments category, City Index scores 5 stars and ranks #8 out of 63 brokers, while TMGM earns 4.5 stars and ranks #18—indicating City Index has a slightly larger selection overall.

Both brokers support forex trading as CFDs or spot and provide cryptocurrency CFDs (but not actual crypto). Neither offers exchange-traded shares on U.S. or international exchanges, so you can’t buy real stocks like Apple or Vodafone. Copy trading is available with both. If you want the most symbols and pairs, City Index has the edge; if 12,000 markets and 62 pairs cover your needs, TMGM remains a solid alternative.

Feature City Index logoCity Index
TMGM logoTMGM
Forex Trading (Spot or CFDs) info Yes Yes
Tradeable Symbols (Total) info 13500 12000
Forex Pairs (Total) info 66 62
U.S. Stocks (Shares) info No No
Global Stocks (Non-U.S. Shares) info No No
Copy Trading info Yes Yes
Cryptocurrency (Underlying) info No No
Cryptocurrency (CFDs) info Yes Yes
Disclaimers Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients).

Dive deeper: Best Copy Trading Platforms.

Trading platforms and tools

Comparing trading platforms and tools, both City Index and TMGM provide free demo (paper) trading, Windows desktop platforms, and browser-based web platforms. Each supports copy trading and lets you place trades directly from charts. City Index stands out with its own proprietary platform alongside MetaTrader 4 (MT4), while TMGM does not have an in-house platform but offers both MT4 and MetaTrader 5 (MT5), which may appeal to traders seeking MT5 features.

For quality of platforms and tools, City Index is rated 4.5 out of 5 stars and ranks #11 out of 63 brokers at ForexBrokers.com, whereas TMGM earns 4 out of 5 stars and ranks #49. In short, choose City Index if you want a strong proprietary platform experience with MT4, and pick TMGM if MT5 access is a priority.

Feature City Index logoCity Index
TMGM logoTMGM
Virtual Trading (Demo) info Yes Yes
Proprietary Desktop Trading Platform info Yes No
Desktop Platform (Windows) info Yes Yes
Web Platform info Yes Yes
Copy Trading info Yes Yes
MetaTrader 4 (MT4) info Yes Yes
MetaTrader 5 (MT5) info No Yes
Charting - Indicators / Studies (Total) info 88 30
Charting - Trade From Chart info Yes Yes

Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.

Forex trading apps

Both the City Index mobile app and the TMGM mobile app are available for iPhone and Android, letting you trade on the go. Each app supports price alerts for forex and CFDs to help you react to market moves. A key difference is watchlists: the City Index mobile app syncs your watchlist with your online account, so edits carry over across devices, while TMGM does not offer watchlist syncing.

For charting, City Index includes 88 built-in technical studies, compared with 30 on TMGM. Both apps let you draw trendlines and automatically save your chart drawings. Overall, City Index earns a higher mobile app rating (4.5 stars) and ranks 9th out of 63 brokers for Mobile Trading Apps on ForexBrokers.com, while TMGM is rated 4 stars and ranks 48th out of 63.

Feature City Index logoCity Index
TMGM logoTMGM
Android App info Yes Yes
Apple iOS App info Yes Yes
Mobile Price Alerts info Yes Yes
Mobile Watchlists - Syncing info Yes No
Mobile Charting - Indicators / Studies info 88 30
Mobile Charting - Draw Trendlines info Yes Yes
Mobile Charting - Trendlines Autosave info Yes Yes

Dive deeper: Best Forex Trading Apps.

Market research

City Index vs TMGM: Both brokers deliver daily market commentary and real-time forex news from top outlets like Bloomberg, Reuters, and Dow Jones. In this comparison, City Index stands out for research quality, earning 4.5/5 stars and ranking #10 out of 63 brokers at ForexBrokers.com, while TMGM scores 3.5/5 stars and ranks #54.

Their toolkits overlap in key areas: both offer Trading Central analytics, a sentiment tool showing long/short positioning, and an economic calendar; neither integrates Autochartist or TipRanks. One notable difference is Acuity Trading—TMGM provides Acuity/Signal Centre tools, while City Index does not. Choose City Index if you want higher-rated research and wider in-house coverage, or go with TMGM if you value Acuity Trading signals alongside the standard research features.

Feature City Index logoCity Index
TMGM logoTMGM
Daily Market Commentary (Articles) info Yes Yes
Forex News (Top-Tier Sources) info Yes Yes
Autochartist info No No
Trading Central info Yes Yes
Client sentiment data info Yes Yes
TipRanks info No No
Acuity Trading info No Yes
Economic Calendar info Yes Yes

Dive deeper: Best Brokers for Forex Research.

Beginners and education

If you’re new to trading and comparing City Index vs TMGM for education, City Index offers more for beginners. It provides at least 10 beginner-focused videos on forex and CFD topics and hosts client webinars every month. As you grow, there are also at least 10 advanced videos to keep building your skills. Independent reviews reflect this strength: City Index scores 4.5/5 stars for Education and ranks #9 out of 63 brokers with ForexBrokers.com.

TMGM’s education is more limited for newcomers. It does not offer at least 10 beginner videos, lacks a set of 10+ advanced videos, and does not run monthly educational webinars. Its results align with that: 3.5/5 stars for Education and a #54 out of 63 ranking. If you want structured beginner content with ongoing live sessions, City Index is the clearer choice.

Feature City Index logoCity Index
TMGM logoTMGM
Webinars info Yes No
Videos - Beginner Trading Videos info Yes No
Videos - Advanced Trading Videos info Yes No

Dive deeper: Best Forex Brokers for Beginners.

Winner

After testing 63 of the best forex brokers, our research and account testing finds that City Index is better than TMGM. City Index finished with an overall rank of #8, while TMGM finished with an overall rank of #37.

Backed by StoneX Group, City Index is a trusted brand known for its versatile trading platforms, excellent mobile app, diverse market research, and extensive range of tradeable markets.

Feature City Index logoCity Index
TMGM logoTMGM
Overall Rating info 5/5 Stars 4/5 Stars
Trust Score info 99 83
Range of Investments 5/5 Stars 4.5/5 Stars
Commissions & Fees 4.5/5 Stars 4/5 Stars
Platforms & Tools 4.5/5 Stars 4/5 Stars
Research 4.5/5 Stars 3.5/5 Stars
Mobile Trading 4.5/5 Stars 4/5 Stars
Education 4.5/5 Stars 3.5/5 Stars

FAQs

Can you trade cryptocurrency with City Index or TMGM?

Online brokers City Index and TMGM do not allow buying actual delivered cryptocurrencies, but both provide cryptocurrency CFD trading.

What funding options does each broker offer?

Comparing online brokers, City Index supports ACH/SEPA, PayPal, and bank wire deposits and withdrawals (but not Skrill), whereas TMGM does not support ACH/SEPA and its support for PayPal, Skrill, Visa/Mastercard, and bank wires is not specified.

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We review each broker’s overall global offering – a “Yes” checkmark in our Compare Tool does not guarantee the availability of any specific features in your country of residence. To verify the availability of any features within your country of residence, please contact the broker directly.

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Overall Rating City Index TMGM
Overall Rating info 5/5 Stars 4/5 Stars
Commissions & Fees 4.5/5 Stars 4/5 Stars
Range of Investments 5/5 Stars 4.5/5 Stars
Platforms & Tools 4.5/5 Stars 4/5 Stars
Mobile Trading 4.5/5 Stars 4/5 Stars
Research 4.5/5 Stars 3.5/5 Stars
Education 4.5/5 Stars 3.5/5 Stars
Trust Score info 99 83
Winner check_circle
Review City Index Review TMGM Review
Broker Screenshots City Index TMGM
Broker Gallery (click to expand) info
City Index MetaTrader 4 mobile trading app City Index web platform trading. City Index web platform research Trading Central City Index educational course advanced.
TMGM MetaTrader 5 MT5 mobile app charts. TMGM client dashboard login TMGM Research Acuity Trading Signal Centre trading signals detail. TMGM learning center academy educational beginner courses progress tracking
Regulation City Index TMGM
Trust Score info 99 83
Year Founded info 1983 2013
Publicly Traded (Listed) info Yes No
Bank info No No
Regulated in one or more EU or EEA countries (MiFID). info Yes info No info
Tier-1 Licenses info 7 2
Tier-2 Licenses info 1 0
Tier-3 Licenses info 0 0
Tier-4 Licenses info 1 2
Tier-1 Licenses (Highly Trusted) City Index TMGM
Australia (ASIC Authorised) info Yes Yes
Canada (CIRO Authorised) info Yes No
Hong Kong (SFC Authorised) info No No
Japan (SFC Authorised) info No No
Singapore (MAS Authorised) info Yes No
Switzerland (FINMA Authorised) info
United Kingdom (U.K.) (FCA Authorised) info Yes No
USA (CFTC Authorized) info No No
New Zealand (FMA Authorised) info No Yes
Regulated in one or more EU or EEA countries (MiFID). info Yes info No info
Tier-2 Licenses (Trusted) City Index TMGM
Kenya (CMA Authorised) info
Israel (ISA Authorised) info No No
South Africa (FSCA Authorised) info No No
UAE (DFSA, FSRA, or SCA Authorised) info Yes No
India (SEBI Authorised) info No No
Jordan (JSC Authorised) info
Investments City Index TMGM
Forex Trading (Spot or CFDs) info Yes Yes
Tradeable Symbols (Total) info 13500 12000
Forex Pairs (Total) info 66 62
U.S. Stocks (Shares) info No No
Global Stocks (Non-U.S. Shares) info No No
Copy Trading info Yes Yes
Cryptocurrency (Underlying) info No No
Cryptocurrency (CFDs) info Yes Yes
Disclaimers Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients).
Cost City Index TMGM
Average spread (EUR/USD) - Standard account info 1.4 info N/A info
All-in Cost EUR/USD - Active info 0.9 info N/A info
Inactivity Fee info Yes Yes
Order execution: Agency info No Yes
Order execution: Market Maker info Yes Yes
Funding City Index TMGM
Minimum Deposit info £100.00 $100
PayPal (Deposit/Withdraw) info Yes
Skrill (Deposit/Withdraw) info No
Bank Wire (Deposit/Withdraw) info Yes
Non-wire bank transfer info Yes No
Trading Platforms City Index TMGM
Proprietary Desktop Trading Platform info Yes No
Desktop Platform (Windows) info Yes Yes
Web Platform info Yes Yes
Copy Trading info Yes Yes
MetaTrader 4 (MT4) info Yes Yes
MetaTrader 5 (MT5) info No Yes
cTrader info No No
Trading Tools City Index TMGM
Virtual Trading (Demo) info Yes Yes
Price Alerts info Yes Yes
Charting - Indicators / Studies (Total) info 88 30
Charting - Trade From Chart info Yes Yes
Charts can be saved info Yes Yes
Mobile Trading City Index TMGM
Android App info Yes Yes
Apple iOS App info Yes Yes
Mobile Price Alerts info Yes Yes
Mobile Watchlist [DELETED] info
Mobile Watchlists - Syncing info Yes No
Mobile Charting - Indicators / Studies info 88 30
Mobile Charting - Draw Trendlines info Yes Yes
Mobile Charting - Trendlines Autosave info Yes Yes
Mobile Research - Economic Calendar info Yes Yes
Research City Index TMGM
Daily Market Commentary (Articles) info Yes Yes
Forex News (Top-Tier Sources) info Yes Yes
Autochartist info No No
Trading Central info Yes Yes
TipRanks info No No
Client sentiment data info Yes Yes
Economic Calendar info Yes Yes
Education City Index TMGM
Webinars info Yes No
Videos - Beginner Trading Videos info Yes No
Videos - Advanced Trading Videos info Yes No
Major Forex Pairs City Index TMGM
GBP/USD [DELETED] info
USD/JPY [DELETED] info
EUR/USD info Yes Yes
USD/CHF [DELETED] info
USD/CAD [DELETED] info
NZD/USD [DELETED] info
AUD/USD [DELETED] info
Review City Index Review TMGM Review
Overall City Index TMGM
Overall Rating info 5/5 Stars 4/5 Stars
Commissions & Fees 4.5/5 Stars 4/5 Stars
Range of Investments 5/5 Stars 4.5/5 Stars
Platforms & Tools 4.5/5 Stars 4/5 Stars
Mobile Trading 4.5/5 Stars 4/5 Stars
Research 4.5/5 Stars 3.5/5 Stars
Education 4.5/5 Stars 3.5/5 Stars
Trust Score info 99 83
Winner check_circle
Review City Index Review TMGM Review
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