Written by ForexBrokers.com
In this head to head comparison of TMGM vs Eightcap, 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.
When considering online trading platforms, both TMGM and Eightcap offer unique advantages. Founded in 2013, TMGM is a newer player compared to Eightcap, which started in 2009. Neither company is publicly traded or operates as a bank. In terms of regulatory standing, TMGM holds two Tier-1 licenses, reflecting a commitment to high trust standards. Eightcap, on the other hand, holds three Tier-1 licenses, slightly surpassing TMGM in this regard.
Trust Scores from ForexBrokers.com place TMGM with a rating of 83 and Eightcap with a rating of 85, indicating both are considered trusted brokers. With these scores, Eightcap sits slightly higher, though both brokers maintain a solid reputation for trustworthiness among users. While neither holds any Tier-2 licenses, their Tier-1 credentials provide confidence for traders seeking secure online trading experiences.
| Feature |
TMGM
|
Eightcap
|
|---|---|---|
| Year Founded | 2013 | 2009 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 2 | 3 |
| Tier-2 Licenses | 0 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 2 | 1 |
TMGM offers competitive commission rates, particularly through its Edge account, which features low spreads and no requotes. However, it is notable that average spread data for currency pairs like EUR/USD is not available, which can affect detailed cost assessments. Traders can opt for either the spread-only Classic account or the commission-based Edge account. The Edge account is generally favored due to its low commission of $3.50 per side ($7 round trip) on top of minimal spreads. Islamic finance customers seeking swap-free accounts will need to choose the Edge account, as the Classic option does not offer Sharia compliance. TMGM receives a 4-star rating for commissions and fees and is ranked #36 out of 63 brokers by ForexBrokers.com.
Eightcap provides two primary account types across its international licenses, including in Australia, the Bahamas, the U.K., and Cyprus. Traders can select either the commission-based Raw account or the spread-only Standard account. The Raw account lists an average spread of 0.06 pips, and after adding the $3.50 per side commission, the total cost is approximately 0.76 pips, slightly below the industry average of 0.8 pips. While generally cost-effective, Eightcap is marginally more expensive than the top-tier low-cost forex brokers. Eightcap also earns a 4-star rating for commissions and fees and is ranked #26 out of 63 brokers by ForexBrokers.com.
| Feature |
TMGM
|
Eightcap
|
|---|---|---|
| Minimum Deposit | $100 | $100 |
| Average Spread EUR/USD - Standard | N/A | 1.0 |
| All-in Cost EUR/USD - Active | N/A | 0.76 |
| Active Trader or VIP Discounts | No | No |
| ACH or SEPA Transfers | No | No |
| PayPal (Deposit/Withdraw) | Yes | Yes |
| Skrill (Deposit/Withdraw) | Yes | Yes |
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
TMGM and Eightcap both offer forex trading as Contracts for Difference (CFDs), catering to those interested in the foreign exchange market. When it comes to the range of tradeable symbols, TMGM provides a substantial advantage with 12,000 options compared to Eightcap's 800. Both brokers fall short when it comes to exchange-traded securities on U.S. or international exchanges, meaning you cannot directly purchase shares like Apple or Vodafone through either platform. However, those seeking the benefits of copy trading will find that both TMGM and Eightcap support this feature, allowing users to emulate the trades of experienced investors.
In the realm of cryptocurrencies, neither broker offers the option to buy actual digital coins, but both provide access to cryptocurrency derivatives. As for the range of investments, TMGM outshines Eightcap, boasting 62 forex pairs compared to Eightcap's 56. Ranked #17 out of 63 brokers by ForexBrokers.com and receiving a solid 4.5-star rating for its range of investments, TMGM appears significantly more comprehensive than Eightcap, which is ranked #40 with a 3.5-star rating. This makes TMGM a more versatile choice for those seeking diverse trading opportunities.
| Feature |
TMGM
|
Eightcap
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 12000 | 800 |
| Forex Pairs (Total) | 62 | 56 |
| 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 it comes to trading platforms and tools, both TMGM and Eightcap have a lot in common, making them worthy contenders for traders seeking reliable online brokers. Both platforms offer free virtual demo accounts, allowing traders to hone their skills without financial risk. Neither broker has a proprietary platform, but both provide access to popular tools like MetaTrader 4 and MetaTrader 5. Users will find Windows-based desktop platforms and web-based solutions available, alongside copy trading services. While neither broker includes DupliTrade or ZuluTrade, they support direct trading from stock charts and offer 15 drawing tools for charting, ensuring precision in analysis. Traders will also find 7 columns for watchlists, which can be helpful in monitoring multiple assets efficiently.
Despite their similarities, slight differences in rankings might influence a trader’s choice. According to ForexBrokers.com, Eightcap ranks a bit higher at #38, compared to TMGM's #48 position among 63 brokers for their trading platforms and tools. However, both TMGM and Eightcap receive a solid 4 out of 5 stars for their services, reflecting their strong capabilities in this category. Whether you opt for TMGM's or Eightcap's offerings, you'll have access to a range of comprehensive tools designed to support effective trading strategies.
| Feature |
TMGM
|
Eightcap
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | No | No |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | Yes | Yes |
| MetaTrader 4 (MT4) | Yes | Yes |
| MetaTrader 5 (MT5) | Yes | Yes |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 30 | 30 |
| Charting - Drawing Tools (Total) | 15 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 7 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
TMGM and Eightcap both offer mobile apps on iPhone and Android platforms, catering to traders who prefer to manage their trades on the go. Both apps provide stock or forex price alerts, a useful feature for keeping traders updated with market movements. Additionally, TMGM and Eightcap each offer a selection of 30 technical studies for charting, allowing users to make informed trading decisions directly from their smartphones. The ability to draw trendlines and view multiple time frames, such as daily or intraday, is supported by both brokers’ apps, with auto-saving functionality for drawings ensuring that users don’t lose their analytical work.
While both TMGM and Eightcap offer real-time watchlists that can be customized, Eightcap stands out with the ability to sync watchlist symbols between the mobile app and online account, providing a smoother experience for users managing their portfolios across devices. Both brokers have earned a commendable 4-star rating for their mobile trading apps. However, when it comes to ranking among 63 brokers on ForexBrokers.com, Eightcap is positioned higher at #38, compared to TMGM's #47, possibly indicating a slightly higher user satisfaction for Eightcap’s mobile offering.
| Feature |
TMGM
|
Eightcap
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | No | Yes |
| Mobile Charting - Indicators / Studies | 30 | 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.
When comparing the market research offerings of TMGM and Eightcap, both brokers deliver daily market commentary and provide economic calendars to keep traders informed about global events. However, TMGM stands out by offering forex news from renowned sources like Bloomberg and Reuters, which Eightcap lacks. While neither platform provides tools from Autochartist, TMGM takes the lead again by offering Trading Central's technical analytics, a feature not available with Eightcap. Both brokers provide a sentiment-based trading tool, displaying the ratio of long or short positions across various instruments.
Despite both being rated 3.5 stars for research, TMGM and Eightcap differ in their rankings by ForexBrokers.com, with TMGM in the 53rd position and Eightcap ranking higher at 39th. Another notable distinction is TMGM’s collaboration with Acuity Trading, which offers tools like Signal Centre, a service not found through Eightcap. While TMGM provides a more comprehensive news and analysis package, traders might still find Eightcap’s offerings satisfactory depending on their specific needs.
| Feature |
TMGM
|
Eightcap
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | No |
| Autochartist | No | No |
| Trading Central (Recognia) | Yes | No |
| Social Sentiment - Currency Pairs | Yes | Yes |
| TipRanks | No | No |
| Signal Centre (Acuity Trading) | Yes | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When it comes to educational resources suitable for beginners, Eightcap appears to have more offerings compared to TMGM. Eightcap provides an array of over 10 educational pieces focusing on forex or CFDs, which includes articles, videos, and archived webinars. They also offer more than 10 beginner-friendly educational videos, making it easier for new traders to grasp trading concepts. TMGM, however, does not meet this criteria for educational content, although both platforms do maintain a searchable archive of past client webinars. Both companies also provide a detailed investor dictionary with over 50 terms, which can be immensely helpful for those just starting in the trading world.
Neither TMGM nor Eightcap hosts monthly online educational webinars, and both lack a significant number of advanced educational videos for seasoned traders. In terms of overall education ratings, both brokers receive a 3.5-star evaluation. However, Eightcap holds a higher standing, ranking 40th among 63 brokers, while TMGM is positioned at 54th according to ForexBrokers.com. This suggests that while both brokers provide similar foundational resources, Eightcap may offer a slightly better experience for beginners from an educational perspective.
| Feature |
TMGM
|
Eightcap
|
|---|---|---|
| Education (Forex or CFDs) | No | Yes |
| Client Webinars | No | No |
| Client Webinars (Archived) | Yes | Yes |
| Videos - Beginner Trading Videos | No | Yes |
| Videos - Advanced Trading Videos | No | 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 TMGM is better than Eightcap. TMGM finished with an overall rank of #37, while Eightcap finished with an overall rank of #38.
TMGM stands out for its impressive education toolset, though it still trails behind the best brokers in most categories. TMGM offers a small range of markets via the MetaTrader 4 (MT4) platform. While primarily a MetaTrader broker, it also offers the more exclusive IRESS platform – though the platform-specific requirements will limit who can use it.
| Feature |
TMGM
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Eightcap
|
|---|---|---|
| Overall Rating |
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| Trust Score | 83 | 85 |
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Both TMGM and Eightcap do not provide options for purchasing actual cryptocurrencies but offer the ability to buy cryptocurrency derivatives instead.
Both TMGM and Eightcap do not support ACH or SEPA transfers for deposits or withdrawals, but they both provide a range of other options including PayPal, Skrill, Visa, Mastercard, and bank wires.
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 | TMGM | Eightcap | |
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| Trust Score | 83 | 85 | |
| Winner | check_circle | ||
| Review | TMGM Review | Eightcap Review |
| Broker Screenshots | TMGM | Eightcap | |
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| Regulation | TMGM | Eightcap | |
|---|---|---|---|
| Trust Score | 83 | 85 | |
| Year Founded | 2013 | 2009 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | No | Yes | |
| Tier-1 Licenses | 2 | 3 | |
| Tier-2 Licenses | 0 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 2 | 1 |
| Tier-1 Licenses (Highly Trusted) | TMGM | Eightcap | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | Yes | |
| Canada (CIRO Authorised) | No | No | |
| Hong Kong (SFC Authorised) | No | No | |
| Japan (SFC Authorised) | No | No | |
| Singapore (MAS Authorised) | No | No | |
| Switzerland (FINMA Authorised) | No | No | |
| United Kingdom (U.K.) (FCA Authorised) | No | Yes | |
| USA (CFTC Authorized) | No | No | |
| New Zealand (FMA Authorised) | Yes | No | |
| Regulated in one or more EU or EEA countries (MiFID). | No | Yes |
| Tier-2 Licenses (Trusted) | TMGM | Eightcap | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA/Central Bank Authorised) | No | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | TMGM | Eightcap | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 12000 | 800 | |
| Forex Pairs (Total) | 62 | 56 | |
| 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 | TMGM | Eightcap | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | N/A | 1.0 | |
| All-in Cost EUR/USD - Active | N/A | 0.76 | |
| Active Trader or VIP Discounts | No | No | |
| Inactivity Fee | Yes | No | |
| Execution: Agency Broker | Yes | Yes | |
| Execution: Market Maker | Yes | Yes |
| Funding | TMGM | Eightcap | |
|---|---|---|---|
| Minimum Deposit | $100 | $100 | |
| PayPal (Deposit/Withdraw) | Yes | Yes | |
| Skrill (Deposit/Withdraw) | Yes | Yes | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | No | No |
| Trading Platforms | TMGM | Eightcap | |
|---|---|---|---|
| Proprietary Platform | No | No | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | Yes | |
| MetaTrader 4 (MT4) | Yes | Yes | |
| MetaTrader 5 (MT5) | Yes | Yes | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | TMGM | Eightcap | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 7 | 7 | |
| Charting - Indicators / Studies (Total) | 30 | 30 | |
| Charting - Drawing Tools (Total) | 15 | 15 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | TMGM | Eightcap | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | No | Yes | |
| Mobile Charting - Indicators / Studies | 30 | 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 | TMGM | Eightcap | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | No | |
| Autochartist | No | No | |
| Trading Central (Recognia) | Yes | No | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | TMGM | Eightcap | |
|---|---|---|---|
| Education (Forex or CFDs) | No | Yes | |
| Client Webinars | No | No | |
| Client Webinars (Archived) | Yes | Yes | |
| Videos - Beginner Trading Videos | No | Yes | |
| Videos - Advanced Trading Videos | No | No | |
| Investor Dictionary (Glossary) | Yes | Yes |
| Major Forex Pairs | TMGM | Eightcap | |
|---|---|---|---|
| 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 | TMGM Review | Eightcap Review |
| Overall | TMGM | Eightcap | |
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| Trust Score | 83 | 85 | |
| Winner | check_circle | ||
| Review | TMGM Review | Eightcap Review |
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