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IC Markets vs TMGM 2025

ForexBrokers.com

Written by ForexBrokers.com

February 05, 2025

In this head to head comparison of IC Markets vs TMGM, we will compare the trading platforms, mobile apps, range of investments, costs, market research, and more. Let's dive in.

IC Markets
4.5/5 Stars Overall
  • Minimum Deposit: $200
  • Trust Score: 84
  • Tradeable Symbols (Total): 3583
TMGM
4/5 Stars Overall
  • Minimum Deposit: $100
  • Trust Score: 83
  • Tradeable Symbols (Total): 12000

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.

Regulation

IC Markets and TMGM are both online brokers that have established themselves in the trading industry. IC Markets was founded in 2007, while TMGM entered the scene in 2013. Neither broker is publicly traded or operates as a banking institution. When it comes to regulatory credentials, both IC Markets and TMGM hold two Tier-1 licenses, which are considered highly trusted by ForexBrokers.com standards.

In terms of trustworthiness, IC Markets and TMGM have earned similar ratings, with IC Markets scoring 84 and TMGM scoring 83 from ForexBrokers.com out of a maximum of 99. This means both brokers are regarded as trusted but not at the highest tier according to ForexBrokers.com’s rating scale. Neither broker holds any Tier-2 licenses, which would provide additional trust levels. Both offer trading services with reliable regulatory oversight, delivering confidence for potential customers.

Feature IC Markets logoIC Markets
TMGM logoTMGM
Year Founded info 2007 2013
Publicly Traded (Listed) info No No
Bank info No No
Tier-1 Licenses info 2 2
Tier-2 Licenses info 0 0
Tier-3 Licenses info 0 0
Tier-4 Licenses info 3 2

Fees

IC Markets vs TMGM on commissions and fees: IC Markets earns 5 stars and ranks #5 out of 63 brokers for this category, while TMGM earns 4 stars and ranks #37. IC Markets was also named Best in Class for Commissions & Fees in the 2024 Annual Awards. Pricing at both brokers depends on your account type and platform, and at IC Markets it can also vary by regulatory entity (EU/Cyprus, Australia, or Seychelles).

IC Markets offers three account types: Standard (spread-only) and two commission-based Raw Spread options on cTrader and MetaTrader (MT4/MT5). The cTrader Raw account charges $3.00 per side ($6 round turn) per 100,000 units; MetaTrader Raw charges $3.50 per side ($7 round turn). IC Markets lists an average EUR/USD spread of 0.02 pips; after commission, the all-in cost is about 0.62 pips on cTrader and 0.72 pips on MetaTrader. The commission-free Standard account averages about 0.62 pips. IC Markets also has a low minimum deposit for its commission accounts and offers discounts for active traders (100+ standard lots per month).

TMGM’s pricing depends on the Classic (spread-only) or Edge (commission) account. The Edge account charges $3.50 per side ($7 round turn) plus prevailing spreads and supports no requotes; Islamic, swap-free terms are available only on the Edge account. TMGM does not publish recent average spread data for EUR/USD, which makes exact all-in comparisons harder. Based on disclosed pricing and transparency, IC Markets typically comes out cheaper for many traders, while TMGM still offers a straightforward, competitive commission plan with its Edge account.

Feature IC Markets logoIC Markets
TMGM logoTMGM
Minimum Deposit info $200 $100
Average Spread EUR/USD - Standard info 0.62 info N/A info
All-in Cost EUR/USD - Active info 0.62 info N/A info
Active Trader or VIP Discounts info Yes No
ACH or SEPA Transfers info No No
PayPal (Deposit/Withdraw) info Yes Yes
Skrill (Deposit/Withdraw) info Yes Yes
Visa/Mastercard (Credit/Debit) info Yes Yes
Bank Wire (Deposit/Withdraw) info Yes Yes

Dive deeper: Best Low Spread Forex Brokers.

Featured Offers


Range of investments

Comparing IC Markets vs TMGM for range of investments: both brokers let you trade forex (CFD or spot, depending on the product) and support copy trading. TMGM lists far more tradable symbols (12,000) than IC Markets (3,583), and edges out on forex pairs with 62 vs 61. Neither broker offers U.S.-listed exchange-traded stocks, and neither sells actual crypto, though both provide cryptocurrency derivatives. A key difference: IC Markets lets clients buy exchange-traded securities on certain international exchanges, while TMGM does not.

Both earn a 4.5/5 rating for Range of Investments, yet TMGM ranks higher (#18 of 63) than IC Markets (#26 of 63) with ForexBrokers.com. Choose TMGM if sheer market count matters most; pick IC Markets if access to some international exchange-traded shares (non-CFD) is a priority.

Feature IC Markets logoIC Markets
TMGM logoTMGM
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 Yes 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).

Dive deeper: Best Copy Trading Platforms.

Trading platforms and tools

IC Markets and TMGM deliver very similar platform lineups: both offer MetaTrader 4 (MT4) and MetaTrader 5 (MT5) on the web and Windows desktop, plus free demo (paper) trading. Neither broker has its own proprietary platform. For charting, each lets you trade directly from charts, includes 15 drawing tools, and provides 7 watchlist columns. The number of technical indicators depends on the MetaTrader platform you use.

For tools and automation, both brokers support copy trading; however, IC Markets also offers ZuluTrade, while TMGM does not. Neither supports DupliTrade. In independent reviews, both earned 4 stars for Trading Platforms and Tools, yet IC Markets is ranked higher (#16 of 63) than TMGM (#49 of 63) by ForexBrokers.com—making IC Markets the slightly stronger pick if you value broader third‑party copy options and overall platform standing.

Feature IC Markets logoIC Markets
TMGM logoTMGM
Virtual Trading (Demo) info Yes Yes
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 Yes
DupliTrade info No No
ZuluTrade info Yes No
Charting - Indicators / Studies (Total) info 30 30
Charting - Drawing Tools (Total) info 15 15
Charting - Trade From Chart info Yes Yes
Watchlists - Total Fields info 7 7

Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.

Forex trading apps

IC Markets and TMGM both deliver full-featured mobile trading apps for iPhone and Android. You’ll get price alerts, real-time watchlists, and strong charting on both: 30 technical studies, trendline drawing, multiple time frames (intraday to weekly), and autosaved annotations. If you trade forex or stocks from your phone, each app covers the basics you’d expect for analysis and order timing.

The standout difference is recognition: both apps are rated 4 stars, but ForexBrokers.com ranks IC Markets higher (#22 of 63) than TMGM (#48 of 63). Neither broker currently syncs watchlist symbols between the mobile app and the web platform, which may matter if you switch devices often. Overall, IC Markets may appeal more if third-party rankings influence your choice, while TMGM offers a similar feature set for on-the-go trading.

Feature IC Markets logoIC Markets
TMGM logoTMGM
Android App info Yes Yes
Apple iOS App info Yes Yes
Mobile Alerts - Basic Fields 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 Yes
Mobile Watchlist info Yes Yes

Dive deeper: Best Forex Trading Apps.

Market research

IC Markets and TMGM both cover the basics for traders who want timely insights: each offers daily market commentary, an economic calendar, and live forex news from top-tier sources like Bloomberg, Reuters, or Dow Jones. Both also include Trading Central and sentiment tools that show long vs. short positioning. In independent ratings, IC Markets earns 4 stars for Research and ranks #23 out of 63 brokers, while TMGM earns 3.5 stars and ranks #54.

The key differences are in third‑party research add‑ons. IC Markets includes Autochartist for pattern recognition, which TMGM does not provide. TMGM counters with Acuity Trading tools (such as Signal Centre), which IC Markets lacks. Neither broker offers TipRanks. If you want Autochartist alongside Trading Central, IC Markets is the stronger pick; if you prefer Acuity’s signals paired with Trading Central, TMGM could fit better.

Feature IC Markets logoIC Markets
TMGM logoTMGM
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
TipRanks info No No
Signal Centre (Acuity Trading) info No Yes
Economic Calendar info Yes Yes

Dive deeper: Best Brokers for Forex Research.

Beginners and education

When comparing the educational offerings for beginners between IC Markets and TMGM, IC Markets stands out with its comprehensive resources. IC Markets provides an extensive range of materials, including over 10 educational pieces focusing on forex and CFDs. Additionally, they host monthly online webinars specifically designed for clients and maintain a searchable archive of these recordings. For those just starting with trading, IC Markets offers more than 10 beginner-level educational videos covering essential topics. They don't leave advanced traders behind, offering over 10 videos tailored to experienced traders. Furthermore, IC Markets includes an investor dictionary featuring definitions for more than 50 investing terms, ensuring learners have access to a plethora of information.

On the other hand, TMGM falls short in comparison to IC Markets in terms of educational content for beginners. While they do maintain a searchable archive of recorded webinars and offer an investor dictionary with over 50 terms, TMGM lacks the robust collection of beginner and advanced educational videos that IC Markets offers. They also don't provide monthly webinars or a substantial number of educational materials focusing specifically on forex or CFDs. Despite these limitations, TMGM still earns a notable rating of 3.5 stars for education, yet it ranks lower than IC Markets, coming in at #54 out of 63 brokers, whereas IC Markets ranks at #16, reflecting the broader range of educational support they provide to aspiring traders.

Feature IC Markets logoIC Markets
TMGM logoTMGM
Education (Forex or CFDs) info Yes No
Client Webinars info Yes No
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

Dive deeper: Best Forex Brokers for Beginners.

Winner

After testing 63 of the best forex brokers, our research and account testing finds that IC Markets is better than TMGM. IC Markets finished with an overall rank of #20, while TMGM finished with an overall rank of #37.

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.

Feature IC Markets logoIC Markets
TMGM logoTMGM
Overall Rating info 4.5/5 Stars 4/5 Stars
Trust Score info 84 83
Range of Investments 4.5/5 Stars 4.5/5 Stars
Commissions & Fees 5/5 Stars 4/5 Stars
Platforms & Tools 4/5 Stars 4/5 Stars
Research 4/5 Stars 3.5/5 Stars
Mobile Trading 4/5 Stars 4/5 Stars
Education 4/5 Stars 3.5/5 Stars

FAQs

Can you trade cryptocurrency with IC Markets or TMGM?

Both IC Markets and TMGM do not offer the option to purchase actual delivered cryptocurrency, but they do provide the ability to trade cryptocurrency derivatives.

What funding options does each broker offer?

When comparing online brokers IC Markets and TMGM, neither offers ACH or SEPA transfers for depositing or withdrawing funds, but both provide options like PayPal, Skrill, Visa, Mastercard, and bank wires, ensuring diverse and convenient methods for managing account transactions.

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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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Overall Rating IC Markets TMGM
Overall Rating info 4.5/5 Stars 4/5 Stars
Commissions & Fees 5/5 Stars 4/5 Stars
Range of Investments 4.5/5 Stars 4.5/5 Stars
Platforms & 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 3.5/5 Stars
Trust Score info 84 83
Winner check_circle
Review IC Markets Review TMGM Review
Broker Screenshots IC Markets TMGM
Broker Gallery (click to expand) info
IC Markets cTrader mobile app charting IC Markets EU cTrader desktop trading platform layout IC Markets webinar IC Your Trade YouTube video series. IC Markets Educational content blog articles.
TMGM MetaTrader 5 MT5 mobile app charts. TMGM client dashboard login TMGM Research Acuity Trading Signal Centre trading signals detail. TMGM learning center academy educational beginner courses progress tracking
Regulation IC Markets TMGM
Trust Score info 84 83
Year Founded info 2007 2013
Publicly Traded (Listed) info No No
Bank info No No
Regulated in one or more EU or EEA countries (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 3 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
United Kingdom (U.K.) (FCA Authorised) info No No
USA (CFTC Authorized) info No No
New Zealand (FMA Authorised) info No Yes
Regulated in one or more EU or EEA countries (MiFID). info Yes info No info
Tier-2 Licenses (Trusted) IC Markets TMGM
Kenya (CMA Authorised) info
Israel (ISA Authorised) info No No
South Africa (FSCA Authorised) info No No
UAE (DFSA, FSRA, or SCA Authorised) info No No
India (SEBI Authorised) info No No
Jordan (JSC Authorised) info
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 Yes 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 N/A info
All-in Cost EUR/USD - Active info 0.62 info N/A info
Active Trader or VIP Discounts info Yes No
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 Yes
Skrill (Deposit/Withdraw) info Yes Yes
Visa/Mastercard (Credit/Debit) info Yes Yes
Bank Wire (Deposit/Withdraw) info Yes Yes
ACH or SEPA Transfers info No No
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 Yes
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 Yes
Mobile Economic 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
TipRanks info No No
Social Sentiment - Currency Pairs info Yes Yes
Economic Calendar info Yes Yes
Education IC Markets TMGM
Education (Forex or CFDs) info Yes No
Client Webinars info Yes No
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
Range of Investments 4.5/5 Stars 4.5/5 Stars
Platforms & 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 3.5/5 Stars
Trust Score info 84 83
Winner check_circle
Review IC Markets Review TMGM Review
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