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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 account info 0.62 info N/A info
All-in Cost EUR/USD - Active info 0.62 info N/A info
Non-wire bank transfer info No No
PayPal (Deposit/Withdraw) info Yes
Skrill (Deposit/Withdraw) info Yes
Bank Wire (Deposit/Withdraw) info Yes

Dive deeper: Best Low Spread Forex Brokers.

Featured Offers


Range of investments

Comparing the range of investments, TMGM lists about 12,000 tradeable symbols, while IC Markets offers 3,583. TMGM edges out IC Markets on forex pairs (62 vs. 61). Both brokers provide forex trading, copy trading, and cryptocurrency CFDs, but neither lets you buy crypto directly. Neither supports buying U.S.-listed shares as real, exchange-traded securities. However, IC Markets does let you buy certain international shares (not CFDs), whereas TMGM does not.

Both earn 4.5 out of 5 stars for Range of Investments, but TMGM ranks higher overall (#18 of 63) than IC Markets (#26 of 63). Choose TMGM if you want the widest menu of markets and a touch more in forex pairs. Pick IC Markets if having access to select international shares (not CFDs) matters to you.

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. Stocks (Shares) info No No
Global Stocks (Non-U.S. Shares) info Yes No
Copy Trading info Yes Yes
Cryptocurrency (Underlying) info No No
Cryptocurrency (CFDs) 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 vs TMGM: both brokers deliver similar trading platform options. Each offers a free demo (paper) account, a web-based platform, and a Windows desktop download. Neither provides a proprietary platform; instead, both support MetaTrader 4 (MT4) and MetaTrader 5 (MT5), along with copy trading. You can also trade directly from charts with either broker, which helps you act on analysis quickly.

For Trading Platforms and Tools, both IC Markets and TMGM are rated 4 out of 5 stars. However, IC Markets ranks higher in this category at #16 out of 63 brokers on ForexBrokers.com, while TMGM is #49. If you’re choosing mainly on platforms and tools, both cover the essentials, with IC Markets getting the edge based on its higher ranking.

Feature IC Markets logoIC Markets
TMGM logoTMGM
Virtual Trading (Demo) info Yes Yes
Proprietary Desktop Trading Platform info No No
Desktop Platform (Windows) info Yes Yes
Web Platform info Yes Yes
Copy Trading info Yes Yes
MetaTrader 4 (MT4) info Yes Yes
MetaTrader 5 (MT5) info Yes Yes
Charting - Indicators / Studies (Total) info 30 30
Charting - Trade From Chart info Yes Yes

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

Forex trading apps

IC Markets and TMGM both offer mobile trading apps for iPhone and Android. Each app includes price alerts, 30 technical studies for charting, and the ability to draw trendlines with drawings auto-saved for later. One notable limitation is the same for both: watchlist symbol syncing isn’t supported, so changes on mobile won’t sync with your web platform watchlists.

Both brokers earn 4 out of 5 stars for their mobile trading apps. That said, ForexBrokers.com ranks IC Markets higher overall for mobile (22nd out of 63) compared with TMGM (48th out of 63). If you want similar in-app tools but care about third-party rankings, IC Markets holds the edge; otherwise, feature-wise, the two apps are closely matched.

Feature IC Markets logoIC Markets
TMGM logoTMGM
Android App info Yes Yes
Apple iOS App info Yes Yes
Mobile Price Alerts info Yes Yes
Mobile Watchlists - Syncing info No No
Mobile Charting - Indicators / Studies info 30 30
Mobile Charting - Draw Trendlines info Yes Yes
Mobile Charting - Trendlines Autosave 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 (Articles) info Yes Yes
Forex News (Top-Tier Sources) info Yes Yes
Autochartist info Yes No
Trading Central info Yes Yes
Client sentiment data info Yes Yes
TipRanks info No No
Acuity Trading info No Yes
Economic Calendar info Yes Yes

Dive deeper: Best Brokers for Forex Research.

Beginners and education

For beginners comparing forex and CFD education, IC Markets delivers more learning support than TMGM. IC Markets runs online educational webinars at least once a month and offers at least 10 beginner-focused videos, plus 10+ advanced videos for when you’re ready to level up. TMGM, by contrast, does not host monthly educational webinars and does not meet the 10-video threshold for beginner or advanced topics, making its library leaner for new traders who want structured guidance.

These differences show up in third-party reviews: IC Markets earns 4 stars for Education and ranks #16 out of 63 brokers with ForexBrokers.com, while TMGM scores 3.5 stars and ranks #54. If you want a deeper video library and regular live sessions to build your skills, IC Markets is the stronger pick; if you prefer to learn without many videos or webinars, TMGM may still fit your style.

Feature IC Markets logoIC Markets
TMGM logoTMGM
Webinars info Yes No
Videos - Beginner Trading Videos info Yes No
Videos - Advanced Trading Videos info Yes No

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?

IC Markets vs TMGM: both online brokers do not offer the purchase of actual (delivered) cryptocurrency, but they do provide cryptocurrency CFD trading.

What funding options does each broker offer?

IC Markets vs TMGM: both do not support ACH/SEPA; IC Markets offers PayPal, Skrill, and bank wire transfers, while TMGM’s availability for PayPal, Skrill, Visa/Mastercard, and bank wires—and IC Markets’ Visa/Mastercard support—is not specified.

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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 (FSA 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. Stocks (Shares) info No No
Global Stocks (Non-U.S. Shares) info Yes No
Copy Trading info Yes Yes
Cryptocurrency (Underlying) info No No
Cryptocurrency (CFDs) 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 account info 0.62 info N/A info
All-in Cost EUR/USD - Active info 0.62 info N/A info
Inactivity Fee info No Yes
Order execution: Agency info Yes Yes
Order execution: Market Maker info Yes Yes
Funding IC Markets TMGM
Minimum Deposit info $200 $100
PayPal (Deposit/Withdraw) info Yes
Skrill (Deposit/Withdraw) info Yes
Bank Wire (Deposit/Withdraw) info Yes
Non-wire bank transfer info No No
Trading Platforms IC Markets TMGM
Proprietary Desktop Trading Platform info No No
Desktop Platform (Windows) info Yes Yes
Web Platform info Yes Yes
Copy Trading info Yes Yes
MetaTrader 4 (MT4) info Yes Yes
MetaTrader 5 (MT5) info Yes Yes
cTrader info Yes No
Trading Tools IC Markets TMGM
Virtual Trading (Demo) info Yes Yes
Price Alerts info Yes Yes
Charting - Indicators / Studies (Total) info 30 30
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 Price Alerts info Yes Yes
Mobile Watchlist [DELETED] info
Mobile Watchlists - Syncing info No No
Mobile Charting - Indicators / Studies info 30 30
Mobile Charting - Draw Trendlines info Yes Yes
Mobile Charting - Trendlines Autosave info Yes Yes
Mobile Research - Economic Calendar info Yes Yes
Research IC Markets TMGM
Daily Market Commentary (Articles) info Yes Yes
Forex News (Top-Tier Sources) info Yes Yes
Autochartist info Yes No
Trading Central info Yes Yes
TipRanks info No No
Client sentiment data info Yes Yes
Economic Calendar info Yes Yes
Education IC Markets TMGM
Webinars info Yes No
Videos - Beginner Trading Videos info Yes No
Videos - Advanced Trading Videos info Yes No
Major Forex Pairs IC Markets TMGM
GBP/USD [DELETED] info
USD/JPY [DELETED] info
EUR/USD info Yes Yes
USD/CHF [DELETED] info
USD/CAD [DELETED] info
NZD/USD [DELETED] info
AUD/USD [DELETED] info
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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