Written by ForexBrokers.com
Is eToro better than TMGM? In our analysis of 23 international regulators across 62 of the best forex brokers, eToro is considered low-risk, with an overall Trust Score of 93 out of 99. TMGM is considered average-risk, with an overall Trust Score of 79 out of 99. Learn more about Trust Score.
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0 of 5| Overall Rating | eToro | TMGM | |
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| Trust Score | 93 | 79 | |
| Winner | check_circle | ||
| Review | eToro Review | TMGM Review |
| Broker Screenshots | eToro | TMGM | |
|---|---|---|---|
| Trading Platforms Gallery (click to expand) | |||
| Research Gallery (click to expand) | |||
| Mobile Trading Gallery (click to expand) | |||
| Education Gallery (click to expand) |
| Regulation | eToro | TMGM | |
|---|---|---|---|
| Trust Score | 93 | 79 | |
| Year Founded | 2007 | 2013 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| European Union Authorised (MiFID) | Yes | No | |
| Tier-1 Licenses | 2 | 2 | |
| Tier-2 Licenses | 1 | 0 | |
| Tier-3 Licenses | 0 | 1 |
| Tier-1 Licenses (High Trust) | eToro | TMGM | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | Yes | |
| Canada (SRO Authorised) | No | No | |
| Hong Kong (SFC Authorised) | No | No | |
| CBI Authorised (Ireland) | No | No | |
| Japan (SFC Authorised) | No | No | |
| Singapore (MAS Authorised) | No | 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 |
| Tier-2 Licenses (Average Trust) | eToro | TMGM | |
|---|---|---|---|
| China (CBRC Authorised) | No | No | |
| Cyprus (CySEC Authorised) | Yes | No | |
| India (SEBI Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| Russia (CBR Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| Thailand (SEC Authorised) | No | No | |
| UAE (DFSA/Central Bank Authorised) | No | No |
| Tier-3 Licenses (Low Trust) | eToro | TMGM | |
|---|---|---|---|
| Bahamas (SCB Authorised) | No | No | |
| Belize (FSC Authorised) | No | No | |
| Cayman Islands (CIMA Authorised) | No | No | |
| Bermuda (BMA Authorised) | No | No | |
| British Virgin Islands (FSC Authorised) | No | No | |
| Mauritius (FSC Authorised) | No | No | |
| Vanuatu (VFSC Authorised) | No | Yes |
| Investments | eToro | TMGM | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 3458 | 12000 | |
| Forex Pairs (Total) | 49 | 62 | |
| U.S. Stock Trading (Non CFD) | Yes | No | |
| Int'l Stock Trading (Non CFD) | Yes | No | |
| Social Trading / Copy Trading | Yes | Yes | |
| Cryptocurrency (Physical) | Yes | No | |
| Cryptocurrency (CFD) | 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 | eToro | TMGM | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1 | 0.96 | |
| All-in Cost EUR/USD - Active | N/A | 0.76 | |
| Active Trader or VIP Discounts | Yes | Yes | |
| Execution: Agency Broker | Yes | Yes | |
| Execution: Market Maker | Yes | No |
| Funding | eToro | TMGM | |
|---|---|---|---|
| Minimum Deposit | $10-$10,000 | $100 | |
| PayPal (Deposit/Withdraw) | Yes | No | |
| Skrill (Deposit/Withdraw) | Yes | Yes | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
| Trading Platforms | eToro | TMGM | |
|---|---|---|---|
| Proprietary Platform | Yes | Yes | |
| Desktop Platform (Windows) | No | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | Yes | |
| MetaTrader 4 (MT4) | No | Yes | |
| MetaTrader 5 (MT5) | No | No | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | eToro | TMGM | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 6 | 7 | |
| Charting - Indicators / Studies (Total) | 66 | 30 | |
| Charting - Drawing Tools (Total) | 13 | 15 | |
| Charting - Trade From Chart | No | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | eToro | 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 | 5 | 30 | |
| Mobile Charting - Draw Trendlines | No | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | No | No | |
| Forex Calendar | No | No |
| Research | eToro | TMGM | |
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| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | No | Yes | |
| Autochartist | No | No | |
| Trading Central (Recognia) | Yes | Yes | |
| Social Sentiment - Currency Pairs | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | eToro | TMGM | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | Yes | Yes | |
| 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 | eToro | TMGM | |
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| 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 | eToro Review | TMGM Review |
| Overall | eToro | TMGM | |
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| Trust Score | 93 | 79 | |
| Winner | check_circle | ||
| Review | eToro Review | TMGM Review |
Comparing forex brokers side by side is no easy task. For our 2023 annual forex broker review, we spent hundreds of hours assessing 62 forex and CFD brokerages to find the best forex broker. Let's compare eToro vs TMGM.
Comparing the trading costs of forex and CFDs is not easy. Not every broker publishes average spreads data, and pricing structures vary. Based on our thorough annual assessment, eToro offers better pricing overall for traders.
At ForexBrokers.com, we track where each forex and CFD broker is regulated across over 23 international regulator databases. Here's our findings. Both eToro and TMGM hold 2 global Tier-1 licenses. eToro holds 1 global Tier-2 licenses, while TMGM holds 0. In our analysis of 23 international regulators across 50 brokers, eToro earned a higher Trust Score than TMGM.
To compare the trading platforms of both eToro and TMGM, we tested each broker's trading tools, research capabilities, and mobile apps. For trading tools, eToro offers a better experience. With research, eToro offers superior market research. Finally, we found eToro to provide better mobile trading apps.
For forex and CFDs traders, copy trading and MetaTrader are both popular platform options. Neither broker offers Meta Trader.eToro and TMGM both offer copy trading.
TMGM provides traders 62 currency pairs (e.g., EUR/USD) compared to eToro's 49 available pairs. Forex pairs aside, TMGM offers traders access to 12000 CFDs while eToro has 3458 available CFDs, a difference of 8542.
eToro is not publicly traded and does not operate a bank. eToro is authorised by two tier-1 regulators (high trust), one tier-2 regulator (average trust), and zero tier-3 regulators (low trust). eToro is authorised by the following tier-1 regulators: Australian Securities & Exchange Commission (ASIC) and the Financial Conduct Authority (FCA).
TMGM is not publicly traded and does not operate a bank. TMGM is authorised by two tier-1 regulators (high trust), zero tier-2 regulators (average trust), and one tier-3 regulator (low trust). TMGM is authorised by the following tier-1 regulators: the Australian Securities & Investment Commission (ASIC) and the Financial Markets Authority (FMA).
eToro is a winner for its easy-to-use copy-trading platform, where traders can copy the trades of experienced investors – or receive exclusive perks for sharing their own trading strategies.
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.
Overall winner: eToro
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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