Written by ForexBrokers.com
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.
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.
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
|
TMGM
|
|---|---|---|
| Year Founded | 1983 | 2013 |
| Publicly Traded (Listed) | Yes | No |
| Bank | No | No |
| Tier-1 Licenses | 7 | 2 |
| Tier-2 Licenses | 1 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 2 |
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
|
TMGM
|
|---|---|---|
| Minimum Deposit | £100.00 | $100 |
| Average Spread EUR/USD - Standard | 1.4 | N/A |
| All-in Cost EUR/USD - Active | 0.74 | N/A |
| Active Trader or VIP Discounts | Yes | No |
| ACH or SEPA Transfers | Yes | No |
| PayPal (Deposit/Withdraw) | Yes | Yes |
| Skrill (Deposit/Withdraw) | No | Yes |
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
City Index edges out TMGM for range of investments, listing about 13,500 tradable symbols and 66 forex pairs compared with TMGM’s 12,000 symbols and 62 pairs. Both brokers let you trade forex as CFDs or spot contracts, offer crypto derivatives (but not actual coins), and support copy trading. Neither broker provides direct access to exchange-traded shares on U.S. or international stock markets; stock exposure is available via CFDs instead.
Independent assessments back up the difference: City Index earns 5 stars and ranks #8 out of 63 brokers for Range of Investments on ForexBrokers.com, while TMGM scores 4.5 stars and ranks #18. If maximum market choice is your top priority—especially in forex pairs and overall symbols—City Index has the edge; if you’re comparing similar CFD platforms with copy trading and crypto derivatives, both are solid picks.
| Feature |
City Index
|
TMGM
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 13500 | 12000 |
| Forex Pairs (Total) | 66 | 62 |
| U.S. Stock Trading (Non CFD) | No | No |
| Int'l Stock Trading (Non CFD) | No | No |
| Social Trading / Copy Trading | Yes | Yes |
| Cryptocurrency (Physical) | No | No |
| Cryptocurrency (Derivative) | 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.
City Index and TMGM both make it easy to get started with paper trading via free demo accounts, and each offers web and Windows desktop platforms with the ability to place trades directly from charts. Copy trading is available at both brokers. Platform choice differs, though: City Index provides its own proprietary platform alongside MetaTrader 4 (MT4), while TMGM relies on third‑party options and adds MetaTrader 5 (MT5) support. Neither broker integrates DupliTrade or ZuluTrade. Indicator totals weren’t specified.
When it comes to charting tools and workspace controls, City Index stands out with 239 drawing tools and 11 watchlist columns, compared with TMGM’s 15 drawing tools and 7 watchlist columns. This advantage is reflected in independent ratings: City Index earns 4.5 stars for Trading Platforms and Tools and ranks #11 out of 63 brokers on ForexBrokers.com, while TMGM scores 4 stars and ranks #49. In short, City Index offers greater built-in tooling, whereas TMGM appeals if you want MT5 in addition to MT4.
| Feature |
City Index
|
TMGM
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | No |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | Yes | Yes |
| MetaTrader 4 (MT4) | Yes | Yes |
| MetaTrader 5 (MT5) | No | Yes |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 88 | 30 |
| Charting - Drawing Tools (Total) | 239 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 11 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
City Index and TMGM both offer iPhone and Android apps with price alerts and watchlists showing real-time quotes. Each app lets you draw trendlines, switch between time frames (like intraday, daily, or weekly), and auto-save your chart drawings. A key difference is syncing: City Index syncs watchlists between the mobile app and your online account, while TMGM does not. Charting depth also varies—City Index includes 88 technical studies, compared with 30 on TMGM.
In independent testing by ForexBrokers.com, City Index earned 4.5 stars and ranked #9 out of 63 brokers for Mobile Trading Apps, while TMGM received 4 stars and ranked #48. If you value deeper chart tools and seamless watchlist syncing, the City Index mobile app is the stronger pick. If you just want essential features on iOS and Android, TMGM’s app covers the basics.
| Feature |
City Index
|
TMGM
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 88 | 30 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | Yes | Yes |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
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
|
TMGM
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | No | No |
| Trading Central (Recognia) | Yes | Yes |
| Social Sentiment - Currency Pairs | Yes | Yes |
| TipRanks | No | No |
| Signal Centre (Acuity Trading) | No | Yes |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When it comes to educational resources for beginners looking to delve into forex and CFD trading, City Index offers a noticeable advantage over TMGM. City Index provides a comprehensive selection of more than 10 educational resources, including articles and videos, focusing on forex and CFDs, while TMGM does not meet this benchmark. Additionally, City Index hosts monthly online educational webinars, creating an interactive learning environment for clients, a service TMGM does not offer. Both brokers, however, provide access to a searchable archive of recorded webinars and an investor dictionary with a broad selection of investing terms.
City Index further enhances the learning experience with educational videos tailored for both beginners and advanced traders, offering at least 10 in each category. In comparison, TMGM falls short in providing similar extensive video resources. These educational offerings contribute to City Index's higher educational rating of 4.5 stars and a commendable ranking of 9th out of 63 brokers by ForexBrokers.com. Meanwhile, TMGM holds a 3.5-star rating and ranks 54th, highlighting the gap in educational support between the two platforms for novice traders.
| Feature |
City Index
|
TMGM
|
|---|---|---|
| Education (Forex or CFDs) | Yes | No |
| Client Webinars | Yes | No |
| Client Webinars (Archived) | Yes | Yes |
| Videos - Beginner Trading Videos | Yes | No |
| Videos - Advanced Trading Videos | Yes | No |
| Investor Dictionary (Glossary) | Yes | Yes |
Dive deeper: Best Forex Brokers for Beginners.
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
|
TMGM
|
|---|---|---|
| Overall Rating |
|
|
| Trust Score | 99 | 83 |
| Range of Investments |
|
|
| Commissions & Fees |
|
|
| Platforms & Tools |
|
|
| Research |
|
|
| Mobile Trading |
|
|
| Education |
|
|
Both City Index and TMGM do not provide the option to buy actual (delivered) cryptocurrency, but they both enable users to trade cryptocurrency derivatives.
When comparing online brokers City Index and TMGM in terms of deposit and withdrawal options, City Index supports ACH and SEPA transfers, PayPal, Visa or Mastercard, and bank wires, whereas TMGM offers PayPal, Skrill, Visa or Mastercard, and bank wires but does not support ACH or SEPA transfers.
Please note:
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.
Select Brokers
↓×Compare
0 of 5| Overall Rating | City Index | TMGM | |
|---|---|---|---|
| Overall Rating |
|
| |
| Commissions & Fees |
|
| |
| Range of Investments |
|
| |
| Platforms & Tools |
|
| |
| Mobile Trading |
|
| |
| Research |
|
| |
| Education |
|
| |
| Trust Score | 99 | 83 | |
| Winner | check_circle | ||
| Review | City Index Review | TMGM Review |
| Broker Screenshots | City Index | TMGM | |
|---|---|---|---|
| Broker Gallery (click to expand) |
|
|
| Regulation | City Index | TMGM | |
|---|---|---|---|
| Trust Score | 99 | 83 | |
| Year Founded | 1983 | 2013 | |
| Publicly Traded (Listed) | Yes | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | No | |
| Tier-1 Licenses | 7 | 2 | |
| Tier-2 Licenses | 1 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 2 |
| Tier-1 Licenses (Highly Trusted) | City Index | TMGM | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | Yes | |
| Canada (CIRO Authorised) | Yes | No | |
| Hong Kong (SFC Authorised) | No | No | |
| Japan (SFC Authorised) | No | No | |
| Singapore (MAS Authorised) | Yes | No | |
| Switzerland (FINMA Authorised) | |||
| United Kingdom (U.K.) (FCA Authorised) | Yes | No | |
| USA (CFTC Authorized) | No | No | |
| New Zealand (FMA Authorised) | No | Yes | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | No |
| Tier-2 Licenses (Trusted) | City Index | TMGM | |
|---|---|---|---|
| Kenya (CMA Authorised) | |||
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA/Central Bank Authorised) | Yes | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) |
| Investments | City Index | TMGM | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 13500 | 12000 | |
| Forex Pairs (Total) | 66 | 62 | |
| U.S. Stock Trading (Non CFD) | No | No | |
| Int'l Stock Trading (Non CFD) | No | No | |
| Social Trading / Copy Trading | Yes | Yes | |
| Cryptocurrency (Physical) | No | No | |
| Cryptocurrency (Derivative) | 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 | 1.4 | N/A | |
| All-in Cost EUR/USD - Active | 0.74 | N/A | |
| Active Trader or VIP Discounts | Yes | No | |
| Inactivity Fee | Yes | Yes | |
| Execution: Agency Broker | No | Yes | |
| Execution: Market Maker | Yes | Yes |
| Funding | City Index | TMGM | |
|---|---|---|---|
| Minimum Deposit | £100.00 | $100 | |
| PayPal (Deposit/Withdraw) | Yes | Yes | |
| Skrill (Deposit/Withdraw) | No | Yes | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | Yes | No |
| Trading Platforms | City Index | TMGM | |
|---|---|---|---|
| Proprietary Platform | Yes | No | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | Yes | |
| MetaTrader 4 (MT4) | Yes | Yes | |
| MetaTrader 5 (MT5) | No | Yes | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | City Index | TMGM | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 11 | 7 | |
| Charting - Indicators / Studies (Total) | 88 | 30 | |
| Charting - Drawing Tools (Total) | 239 | 15 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | City Index | TMGM | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | Yes | No | |
| Mobile Charting - Indicators / Studies | 88 | 30 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | Yes | Yes | |
| Mobile Economic Calendar | Yes | Yes |
| Research | City Index | TMGM | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | No | No | |
| Trading Central (Recognia) | Yes | Yes | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | City Index | TMGM | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | No | |
| Client Webinars | Yes | No | |
| Client Webinars (Archived) | Yes | Yes | |
| Videos - Beginner Trading Videos | Yes | No | |
| Videos - Advanced Trading Videos | Yes | No | |
| Investor Dictionary (Glossary) | Yes | Yes |
| Major Forex Pairs | City Index | TMGM | |
|---|---|---|---|
| GBP/USD | Yes | Yes | |
| USD/JPY | Yes | Yes | |
| EUR/USD | Yes | Yes | |
| USD/CHF | Yes | Yes | |
| USD/CAD | Yes | Yes | |
| NZD/USD | Yes | Yes | |
| AUD/USD | Yes | Yes | |
| Review | City Index Review | TMGM Review |
| Overall | City Index | TMGM | |
|---|---|---|---|
| Overall Rating |
|
| |
| Commissions & Fees |
|
| |
| Range of Investments |
|
| |
| Platforms & Tools |
|
| |
| Mobile Trading |
|
| |
| Research |
|
| |
| Education |
|
| |
| Trust Score | 99 | 83 | |
| Winner | check_circle | ||
| Review | City Index Review | TMGM Review |
IG
CMC Markets
FOREX.com
XTB
eToro
AvaTrade
Plus500
Pepperstone
FP Markets
Tickmill