Written by ForexBrokers.com
In this head to head comparison of eToro 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.
eToro and TMGM are two online brokers that cater to traders looking for reliable platforms. Founded in 2007, eToro is a publicly traded company that has garnered significant trust, boasting a high Trust Score of 96, as rated by ForexBrokers.com. With three Tier-1 licenses and one Tier-2 license, eToro is perceived as a highly trusted choice for online trading. In contrast, TMGM, established in 2013, is not publicly traded. With a Trust Score of 83, it is considered a trusted platform, holding two Tier-1 licenses, but lacks Tier-2 licenses.
Both eToro and TMGM are non-bank entities that provide online trading services. While eToro's status as a publicly listed company adds an extra layer of credibility, TMGM holds its ground as a trustworthy option for traders, despite being privately owned. Those seeking a broker with a higher level of trust might lean toward eToro, thanks to its additional licenses and higher trust rating. However, TMGM still presents a reliable choice for users who prioritize straightforward, trusted trading solutions.
| Feature |
eToro
|
TMGM
|
|---|---|---|
| Year Founded | 2007 | 2013 |
| Publicly Traded (Listed) | Yes | No |
| Bank | No | No |
| Tier-1 Licenses | 3 | 2 |
| Tier-2 Licenses | 1 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 2 |
When comparing eToro and TMGM on commissions and fees, eToro positions itself as a market-maker broker with a typical variable spread of 1 pip on the EUR/USD, which is marginally higher than the industry average. Retail traders generally select eToro not for its spreads but for the unique social copy trading platform it offers. To enhance the trading experience, eToro provides a VIP club with five membership levels ranging from Silver to Diamond, catering to traders with account balances between $5,000 and $250,000. Each tier offers various benefits, such as access to Trading Central, reduced withdrawal and deposit fees, and a dedicated account manager.
In contrast, TMGM provides competitive commission rates, particularly with its Edge account, which combines low spreads with a small commission fee of $3.50 per side—or $7 per round trip. Although recent average spread data for EUR/USD wasn't available, choosing the Edge account could be beneficial due to its cost-effective trading conditions. TMGM accommodates diverse customer needs with account types such as the spread-only Classic account and the commission-based Edge option, which is preferable for those seeking lower trading costs. Additionally, TMGM offers interest-free accounts for Islamic finance customers through the Edge account, but not with the Classic option.
Regarding rankings and ratings, eToro earns a commendable 4.5 stars for commissions and fees and ranks #22 out of 63 brokers according to ForexBrokers.com. Meanwhile, TMGM garners 4 stars and holds the #36 spot. These metrics reflect the competitive yet distinct offerings each broker presents, allowing traders to make informed decisions based on their specific trading preferences and requirements.
| Feature |
eToro
|
TMGM
|
|---|---|---|
| Minimum Deposit | $50-$10,000 | $100 |
| Average Spread EUR/USD - Standard | 1 | N/A |
| All-in Cost EUR/USD - Active | N/A | N/A |
| Active Trader or VIP Discounts | Yes | No |
| ACH or SEPA Transfers | Yes | 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.
When comparing eToro and TMGM for their range of investments, you'll find distinct differences in their offerings. Both platforms support forex trading as CFDs, with TMGM providing access to 62 forex pairs compared to eToro's 55 pairs. However, eToro takes a broader approach by offering a total of 5,461 tradeable symbols, while TMGM impressively offers 12,000. A standout feature for eToro is its provision of exchange-traded securities, allowing clients to buy shares like Apple on U.S. exchanges and Vodafone on international exchanges, whereas TMGM does not support this service. Additionally, both brokers cater to the modern investor with copy trading features, but eToro further broadens investment opportunities by enabling the purchase of actual cryptocurrencies alongside cryptocurrency derivatives, a service TMGM exclusively offers through derivatives.
From a broader perspective, eToro and TMGM both rank impressively in the broker community, but eToro manages to edge out slightly ahead with a perfect 5-star rating in the range of investments category, as opposed to TMGM's commendable 4.5 stars. eToro is also recognized for its strong offerings with a #10 rank out of 63 brokers by ForexBrokers.com, while TMGM holds a #17 position in the same category. The differences in the types and numbers of tradeable assets and unique features like buying actual cryptocurrency further highlight eToro’s expansive investment range, appealing to diverse trading preferences and investment styles.
| Feature |
eToro
|
TMGM
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 5461 | 12000 |
| Forex Pairs (Total) | 55 | 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 (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 comparing the trading platforms and tools offered by eToro and TMGM, both brokers provide trading opportunities for beginners and experienced traders alike through virtual demo accounts. However, their platforms differ in several key areas. eToro stands out with its proprietary platform, renowned for its user-friendly web-based interface and popular copy trading features. In contrast, TMGM provides a Windows-based desktop platform and supports MetaTrader 4 and 5, widely favored by traders for advanced analytics. While eToro lacks downloadable desktop support, it compensates with a robust collection of 161 drawing tools, compared to TMGM's 15, although TMGM does allow direct trading from stock charts, which eToro does not.
Both brokers facilitate web-based trading, but eToro's platform is particularly celebrated for its ease of use, incorporating six customizable fields for watchlists. Meanwhile, TMGM offers seven, catering to traders seeking slightly more diversification in their watchlists. Despite both lacking support for DupliTrade and ZuluTrade, eToro's overall trading platform is rated higher at 4.5 stars, placing it 8th out of 63 brokers, while TMGM is rated 4 stars, ranking 48th. This makes eToro a preferred choice for those valuing a seamless online experience, while TMGM appeals to those favoring the traditional robustness of desktop applications and MetaTrader support.
| Feature |
eToro
|
TMGM
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | No |
| Desktop Platform (Windows) | No | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | Yes | Yes |
| MetaTrader 4 (MT4) | No | Yes |
| MetaTrader 5 (MT5) | No | Yes |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 104 | 30 |
| Charting - Drawing Tools (Total) | 161 | 15 |
| Charting - Trade From Chart | No | Yes |
| Watchlists - Total Fields | 6 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
For traders seeking a mobile trading app, both eToro and TMGM offer options compatible with iPhone and Android devices, ensuring accessibility for users on both leading mobile platforms. They share several core features, including stock and forex price alerts as well as the ability to view multiple time frames on stock or forex charts. eToro takes an edge with its advanced charting capabilities, offering 104 technical studies compared to TMGM's 30. Additionally, eToro's app allows for watchlist symbol syncing, seamlessly integrating changes between the mobile app and the online platform. However, TMGM's app makes up for some of these differences by offering features like trendline drawing and automatic saving of chart drawings, which are not available in eToro’s mobile counterpart.
Overall, user reviews and industry rankings reflect eToro's higher standing in the realm of mobile trading apps. With a rating of 4.5 stars, eToro outshines TMGM's 4-star score, earning it the 10th spot out of 63 brokers in ForexBrokers.com's ranking, while TMGM is positioned at 47th. Both apps allow for the creation of watchlists with real-time quotes, catering well to traders who prioritize live updates and swift access to information. These differences spotlight the strengths of each app, helping traders choose the one that best suits their individual needs.
| Feature |
eToro
|
TMGM
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 104 | 30 |
| Mobile Charting - Draw Trendlines | No | Yes |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | No | Yes |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
Both eToro and TMGM provide daily market commentary to keep traders informed about the latest market trends. However, when it comes to sourcing forex news from top-tier providers like Bloomberg or Reuters, TMGM has the edge, while eToro does not offer this feature. For traders interested in research tools from Autochartist, neither platform provides this option. However, both eToro and TMGM include technical analysis tools from Trading Central, allowing users access to critical market insights.
Sentiment-based trading tools are available on both eToro and TMGM, illustrating the ratio of long or short positions across various instruments. When it comes to additional research features, eToro provides market research from TipRanks, whereas TMGM includes tools from Acuity Trading. Both platforms offer an economic calendar displaying global news events, but their overall research ratings differ: eToro rates at 4.5 stars and ranks #13 out of 63 brokers, while TMGM stands at 3.5 stars and ranks #53. This suggests that eToro has a stronger offering for traders focused on market research.
| Feature |
eToro
|
TMGM
|
|---|---|---|
| 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 |
| TipRanks | Yes | No |
| Signal Centre (Acuity Trading) | No | Yes |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When it comes to educational resources tailored for beginners, eToro clearly stands out compared to TMGM. eToro provides a comprehensive suite of educational tools, including over ten articles and videos focused on forex and CFDs, as well as at least ten beginner-centric videos. They also host monthly online webinars, which are a key learning resource for new investors, and maintain a searchable archive of these sessions for easy access. Additionally, eToro offers a helpful investor dictionary with more than 50 investing terms, making it easier for newcomers to understand complex market jargon.
TMGM, on the other hand, offers fewer resources for beginners. While they do maintain a searchable archive of recorded webinars and provide an investor dictionary, their educational content is not as extensive when it comes to beginner tutorials and webinars. TMGM doesn't offer the same volume of educational materials focused on forex and CFDs, nor do they conduct monthly webinars or beginner-specific videos like eToro. Reflecting this, eToro is ranked #5 by ForexBrokers.com in the Education category, with a 4.5-star rating, while TMGM is positioned at #54, receiving a 3.5-star rating. For those new to trading, eToro’s broader educational offerings make it a more appealing choice.
| Feature |
eToro
|
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 eToro is better than TMGM. eToro finished with an overall rank of #9, while TMGM finished with an overall rank of #37.
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.
| Feature |
eToro
|
TMGM
|
|---|---|---|
| Overall Rating |
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| Trust Score | 96 | 83 |
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eToro allows users to purchase actual cryptocurrencies and engage in cryptocurrency derivatives, while TMGM focuses solely on offering cryptocurrency derivative trading without the option to buy actual cryptocurrencies.
eToro provides more versatility with both ACH and SEPA transfers available for deposits and withdrawals, unlike TMGM, which does not offer these options; however, both platforms support a variety of other payment methods, including PayPal, Skrill, Visa or 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 | eToro | TMGM | |
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| Trust Score | 96 | 83 | |
| Winner | check_circle | ||
| Review | eToro Review | TMGM Review |
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| Regulation | eToro | TMGM | |
|---|---|---|---|
| Trust Score | 96 | 83 | |
| Year Founded | 2007 | 2013 | |
| Publicly Traded (Listed) | Yes | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | No | |
| Tier-1 Licenses | 3 | 2 | |
| Tier-2 Licenses | 1 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 2 |
| Tier-1 Licenses (Highly Trusted) | eToro | TMGM | |
|---|---|---|---|
| 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) | 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) | eToro | TMGM | |
|---|---|---|---|
| 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 | eToro | TMGM | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 5461 | 12000 | |
| Forex Pairs (Total) | 55 | 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 (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 | eToro | TMGM | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1 | N/A | |
| All-in Cost EUR/USD - Active | N/A | N/A | |
| Active Trader or VIP Discounts | Yes | No | |
| Inactivity Fee | Yes | Yes | |
| Execution: Agency Broker | Yes | Yes | |
| Execution: Market Maker | Yes | Yes |
| Funding | eToro | TMGM | |
|---|---|---|---|
| Minimum Deposit | $50-$10,000 | $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 | Yes | No |
| Trading Platforms | eToro | TMGM | |
|---|---|---|---|
| Proprietary Platform | Yes | No | |
| Desktop Platform (Windows) | No | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | Yes | |
| MetaTrader 4 (MT4) | No | Yes | |
| MetaTrader 5 (MT5) | No | Yes | |
| 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) | 104 | 30 | |
| Charting - Drawing Tools (Total) | 161 | 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 | 104 | 30 | |
| Mobile Charting - Draw Trendlines | No | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | No | Yes | |
| Mobile Economic Calendar | No | Yes |
| Research | eToro | TMGM | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | No | Yes | |
| Autochartist | No | No | |
| Trading Central (Recognia) | Yes | Yes | |
| TipRanks | Yes | No | |
| Social Sentiment - Currency Pairs | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | eToro | 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 | eToro | 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 | eToro Review | TMGM Review |
| Overall | eToro | TMGM | |
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| Trust Score | 96 | 83 | |
| Winner | check_circle | ||
| Review | eToro Review | TMGM Review |
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