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 |
When comparing the cost structures of City Index and TMGM, it becomes clear that both brokers offer appealing options tailored to different trading needs. City Index is well-regarded with a 4.5-star rating for its commissions and fees, placing it at 14th out of 63 brokers according to ForexBrokers.com. The brokerage provides average pricing for CFDs and forex, aligning with industry norms but lagging behind top competitors like Tickmill and FP Markets, especially for the EUR/USD pair. Traders can enhance their experience with City Index’s Premium Trader account, which requires a more substantial deposit but grants access to exclusive pricing and content. Additionally, City Index offers rebates starting at £4 per million, incentivizing high-volume trades.
TMGM, on the other hand, features a 4-star rating and ranks 36th on ForexBrokers.com for its commissions and fees. The broker stands out with its competitive Edge account, which has low spreads and charges a commission of $3.50 per side. However, it's important to note that specific average spread data for the EUR/USD pair isn’t readily available, which could complicate a full comparison of trading costs. For those adhering to Islamic finance principles, TMGM offers an interest-free, Sharia-compliant option within its Edge account, expanding its appeal to a broader range of customers.
Both brokers have their unique offerings: City Index provides structured incentives for active traders with large volume rebates, while TMGM is noteworthy for its competitive commission structure, particularly on the Edge account. This makes City Index a strong choice for frequent, high-volume traders willing to make a substantial deposit, whereas TMGM’s offerings cater to those seeking lower upfront costs and diverse account options, including interest-free choices.
| 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 and TMGM both offer forex trading as CFDs or spot contracts, with City Index providing 13,500 tradeable symbols compared to TMGM's 12,000. When it comes to tradeable forex pairs, City Index again takes the lead with 66 pairs, while TMGM offers 62. Neither broker offers exchange-traded securities on U.S. or international exchanges, meaning you cannot buy individual company shares like Apple or Vodafone through these platforms. However, both brokers allow for copy trading and provide access to cryptocurrency derivatives, though not the actual cryptocurrencies.
In terms of ratings for their range of investments, City Index receives a commendable 5-star rating whereas TMGM scores slightly lower at 4.5 stars. When ranked for their range of investments among 63 brokers by ForexBrokers.com, City Index holds the 8th position while TMGM is placed at 17th. Whether you prioritize a vast selection of tradeable symbols or a slightly broader set of forex pairs, both brokers have strengths to consider based on your trading needs.
| 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.
When choosing between City Index and TMGM for trading platforms and tools, both brokers offer appealing features, yet each caters to different preferences. City Index provides a proprietary platform developed in-house, alongside popular options like MetaTrader 4, but lacks MetaTrader 5 support. TMGM, on the other hand, supports both MT4 and MT5, though it doesn’t have a proprietary platform of its own. Both brokers offer access to a Windows-based desktop platform and a web-based version, ensuring compatibility with most devices. They also support simulated (paper) trading and copy trading, offering flexibility for both beginners and experienced traders to explore and refine their strategies. Several tools such as the ability to trade directly from stock charts are available on both platforms, but City Index takes a lead in the charting department with 239 drawing tools compared to TMGM's 15. For watchlists, City Index again offers more customization options with 11 columns compared to TMGM’s seven.
In terms of rankings and user reviews, City Index holds a higher position, rated at 4.5 stars out of five compared to TMGM's four stars for trading platforms and tools. ForexBrokers.com ranks City Index at #11 out of 63 brokers, significantly ahead of TMGM, which sits at #48. For traders seeking a tailored experience with expansive drawing tools and greater flexibility in customizing watch lists, City Index might be the preferable choice. However, for those who prioritize having access to both MetaTrader 4 and MetaTrader 5, TMGM offers a competitive alternative.
| 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.
Both City Index and TMGM provide mobile trading apps for iPhone and Android users, offering convenient access to trade management on the go. While both platforms support real-time price alerts and the ability to draw trendlines on charts, City Index stands out with its synchronization feature, allowing users to sync their watchlists across devices, a convenience that TMGM lacks. Moreover, City Index offers a more extensive selection of technical studies with 88 options compared to TMGM's 30, providing traders with a comprehensive chart analysis toolset.
City Index's mobile app is rated 4.5 stars and ranked 9th out of 63 brokers by ForexBrokers.com, reflecting high customer satisfaction and user-friendly design. In comparison, TMGM's mobile app has a 4-star rating and is ranked 47th, indicating a solid but less competitive offering. Both apps allow users to save chart drawings automatically and provide the flexibility to view multiple time frames, ensuring traders have the tools they need to make informed decisions. Overall, City Index's app seems to provide a richer feature set and seamless user experience compared to TMGM.
| 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.
In comparing the market research offerings of City Index and TMGM, both brokers provide daily market commentary and comprehensive forex news from top-tier sources like Bloomberg and Reuters. They both utilize Trading Central to offer advanced technical analysis tools, and each includes a sentiment-based trading tool to help investors gauge market trends. However, only TMGM benefits from additional research tools through Acuity Trading, whereas City Index does not. Both brokers offer an economic calendar to keep traders informed about significant global events.
When it comes to market research ratings, City Index stands out with a commendable 4.5-star rating, significantly higher than TMGM’s 3.5 stars. This difference is also reflected in their rankings on ForexBrokers.com, where City Index is positioned at an impressive #10 out of 63 brokers for research capabilities, whereas TMGM lags behind at #53. These distinctions highlight City Index as the stronger choice for traders seeking insightful market research.
| 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
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TMGM
|
|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 83 |
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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.
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0 of 5| Overall Rating | City Index | TMGM | |
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| Trust Score | 99 | 83 | |
| Winner | check_circle | ||
| Review | City Index Review | TMGM Review |
| Broker Screenshots | City Index | TMGM | |
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| 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) | No | No | |
| 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) | No | No | |
| 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) | No | No |
| 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 | |
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| Trust Score | 99 | 83 | |
| Winner | check_circle | ||
| Review | City Index Review | TMGM Review |
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