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IC Markets vs TMGM 2023

ForexBrokers.com

Written by ForexBrokers.com

August 29, 2023

Is IC Markets better than TMGM? In our analysis of 23 international regulators across 62 of the best forex brokers, IC Markets is considered Trusted, with an overall Trust Score of 84 out of 99. TMGM is considered Trusted, with an overall Trust Score of 83 out of 99. Learn more about Trust Score.

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Compare

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Overall Rating IC Markets TMGM
Overall Rating info 4.5/5 Stars 4/5 Stars
Commissions & Fees 5/5 Stars 4/5 Stars
Offering of Investments 4.5/5 Stars 5/5 Stars
Platform & Tools 4/5 Stars 4/5 Stars
Mobile Trading 4/5 Stars 4/5 Stars
Research 4/5 Stars 3.5/5 Stars
Education 4/5 Stars 4.5/5 Stars
Trust Score info 84 83
Winner check_circle
Review IC Markets Review TMGM Review
Broker Screenshots IC Markets TMGM
Trading Platforms Gallery (click to expand) info
Mobile Trading Gallery (click to expand) info
Research Gallery (click to expand) info
Education Gallery (click to expand) info
Regulation IC Markets TMGM
Trust Score info 84 83
Year Founded info 2007 2013
Publicly Traded (Listed) info No No
Bank info No No
European Union Authorised (MiFID) info Yes info No info
Tier-1 Licenses info 2 2
Tier-2 Licenses info 0 0
Tier-3 Licenses info 0 0
Tier-4 Licenses info 2 2
Tier-1 Licenses (Highly Trusted) IC Markets TMGM
Australia (ASIC Authorised) info Yes Yes
Canada (CIRO Authorised) info No No
Hong Kong (SFC Authorised) info No No
Japan (SFC Authorised) info No No
Singapore (MAS Authorised) info No No
Switzerland (FINMA Authorised) info No No
United Kingdom (U.K.) (FCA Authorised) info No No
USA (CFTC Authorized) info No No
New Zealand (FMA Authorised) info No Yes
European Union Authorised (MiFID) info Yes info No info
Tier-2 Licenses (Trusted) IC Markets TMGM
Kenya (CMA Authorised) info No No
Israel (ISA Authorised) info No No
South Africa (FSCA Authorised) info No No
UAE (DFSA/Central Bank Authorised) info No No
India (SEBI Authorised) info No No
Jordan (JSC Authorised) info No No
Investments IC Markets TMGM
Forex Trading (Spot or CFDs) info Yes Yes
Tradeable Symbols (Total) info 3583 12000
Forex Pairs (Total) info 61 62
U.S. Stock Trading (Non CFD) info No No
Int'l Stock Trading (Non CFD) info No No
Social Trading / Copy Trading info Yes Yes
Cryptocurrency (Physical) info No No
Cryptocurrency (Derivative) info 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 IC Markets TMGM
Average Spread EUR/USD - Standard info 0.62 info 0.96 info
All-in Cost EUR/USD - Active info 0.62 info 0.76 info
Active Trader or VIP Discounts info Yes Yes
Inactivity Fee info No Yes
Execution: Agency Broker info Yes Yes
Execution: Market Maker info Yes Yes
Funding IC Markets TMGM
Minimum Deposit info $200 $100
PayPal (Deposit/Withdraw) info Yes No
Skrill (Deposit/Withdraw) info Yes Yes
Visa/Mastercard (Credit/Debit) info Yes Yes
Bank Wire (Deposit/Withdraw) info Yes Yes
Trading Platforms IC Markets TMGM
Proprietary Platform info No No
Desktop Platform (Windows) info Yes Yes
Web Platform info Yes Yes
Social Trading / Copy Trading info Yes Yes
MetaTrader 4 (MT4) info Yes Yes
MetaTrader 5 (MT5) info Yes No
cTrader info Yes No
DupliTrade info No No
ZuluTrade info Yes No
Trading Tools IC Markets TMGM
Virtual Trading (Demo) info Yes Yes
Alerts - Basic Fields info Yes Yes
Watchlists - Total Fields info 7 7
Charting - Indicators / Studies (Total) info 30 30
Charting - Drawing Tools (Total) info 15 15
Charting - Trade From Chart info Yes Yes
Charts can be saved info Yes Yes
Mobile Trading IC Markets TMGM
Android App info Yes Yes
Apple iOS App info Yes Yes
Mobile Alerts - Basic Fields info Yes Yes
Mobile Watchlist info Yes Yes
Watchlist Syncing info No No
Mobile Charting - Indicators / Studies info 30 30
Mobile Charting - Draw Trendlines info Yes Yes
Mobile Charting - Multiple Time Frames info Yes Yes
Mobile Charting - Drawings Autosave info Yes No
Forex Calendar info Yes Yes
Research IC Markets TMGM
Daily Market Commentary info Yes Yes
Forex News (Top-Tier Sources) info Yes Yes
Autochartist info Yes No
Trading Central (Recognia) info Yes Yes
Social Sentiment - Currency Pairs info Yes Yes
Economic Calendar info Yes Yes
Education IC Markets TMGM
Education (Forex or CFDs) info Yes Yes
Client Webinars info Yes Yes
Client Webinars (Archived) info Yes Yes
Videos - Beginner Trading Videos info Yes No
Videos - Advanced Trading Videos info Yes No
Investor Dictionary (Glossary) info Yes Yes
Major Forex Pairs IC Markets TMGM
GBP/USD info Yes Yes
USD/JPY info Yes Yes
EUR/USD info Yes Yes
USD/CHF info Yes Yes
USD/CAD info Yes Yes
NZD/USD info Yes Yes
AUD/USD info Yes Yes
Review IC Markets Review TMGM Review
Overall IC Markets TMGM
Overall Rating info 4.5/5 Stars 4/5 Stars
Commissions & Fees 5/5 Stars 4/5 Stars
Offering of Investments 4.5/5 Stars 5/5 Stars
Platform & Tools 4/5 Stars 4/5 Stars
Mobile Trading 4/5 Stars 4/5 Stars
Research 4/5 Stars 3.5/5 Stars
Education 4/5 Stars 4.5/5 Stars
Trust Score info 84 83
Winner check_circle
Review IC Markets Review TMGM Review
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IC Markets vs TMGM Comparison

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 IC Markets vs TMGM.

Does IC Markets or TMGM offer lower pricing?

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, IC Markets offers better pricing overall for traders.

Is IC Markets or TMGM safer for forex and CFDs trading?

At ForexBrokers.com, we track where each forex and CFD broker is regulated across over 23 international regulator databases. Here's our findings. Both IC Markets and TMGM hold 2 global Tier-1 licenses. Both IC Markets and TMGM hold 0 global Tier-2 licenses. In our analysis of 23 international regulators across 50 brokers, IC Markets (84) earned a higher Trust Score than TMGM (83).

Which trading platform is better: IC Markets or TMGM?

To compare the trading platforms of both IC Markets and TMGM, we tested each broker's trading tools, research capabilities, and mobile apps. For trading tools, IC Markets offers a better experience. With research, IC Markets offers superior market research. Finally, we found IC Markets to provide better mobile trading apps.

What about MetaTrader and copy trading?

For forex and CFDs traders, copy trading and MetaTrader are both popular platform options. Both IC Markets and TMGM offer MetaTrader 4 (MT4).IC Markets and TMGM both offer copy trading.

How many forex pairs and CFDs are available to trade?

TMGM provides traders 62 currency pairs (e.g., EUR/USD) compared to IC Markets's 61 available pairs. Forex pairs aside, TMGM offers traders access to 12000 CFDs while IC Markets has 3583 available CFDs, a difference of 8417.

Can I trust IC Markets?

IC Markets is not publicly traded and does not operate a bank. IC Markets is authorised by two Tier-1 regulators (Highly Trusted), zero Tier-2 regulators (Trusted), zero Tier-3 regulators (Average Risk), and two Tier-4 regulators (High Risk). IC Markets is authorised by the following tier-1 regulators: Australian Securities & Investment Commission (ASIC) and European Union Authorized (MiFID).

Can I trust TMGM?

TMGM is not publicly traded and does not operate a bank. TMGM is authorised by two tier-1 regulators (Highly Trusted), zero tier-2 regulators (Trusted), zero tier-3 regulator (Average Risk), and two tier-4 regulators (High Risk). TMGM is authorised by the following tier-1 regulators: the Australian Securities & Investment Commission (ASIC) and the Financial Markets Authority (FMA).

Is IC Markets good?

IC Markets’ competitive pricing and scalable execution make it an excellent option for algorithmic traders. Though it supports an impressive range of third-party tools and plugins, IC Markets’ research and education offerings are not as impressive as those offered by industry leaders.

Is TMGM good?

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: IC Markets

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announcementPlease 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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