Written by ForexBrokers.com
In this head to head comparison of IG 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.
IG and TMGM are two prominent online brokers distinguished by their regulatory standings and trustworthiness. Established in 1974, IG is a well-established entity and is publicly traded, which adds to its credibility. It also functions as a bank, further cementing its solid foundation. With a ForexBrokers.com Trust Score of 99, IG is considered highly trustworthy, holding 8 Tier-1 licenses and 2 Tier-2 licenses. These credentials underline IG's secure and reliable environment for traders.
In contrast, TMGM, founded in 2013, is a newer player in the online brokerage market. Unlike IG, TMGM is not publicly traded and does not operate as a bank. It holds a Trust Score of 83 from ForexBrokers.com, considering it trustworthy but trailing behind IG in terms of credibility. TMGM secures 2 Tier-1 licenses but lacks Tier-2 licenses, indicating a focus on core trust aspects yet offering fewer assurances than IG. Potential traders can weigh these differences in regulatory strength and institutional credibility when choosing their platform.
| Feature |
IG
|
TMGM
|
|---|---|---|
| Year Founded | 1974 | 2013 |
| Publicly Traded (Listed) | Yes | No |
| Bank | Yes | No |
| Tier-1 Licenses | 8 | 2 |
| Tier-2 Licenses | 2 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 2 |
When it comes to comparing IG and TMGM for commissions and fees, IG excels as it offers scalable execution across a variety of products, making it appealing to active traders. with pricing available through its Forex Direct accounts, IG provides competitive spreads. In July 2023, IG's Forex Direct account averaged a spread of 0.62 pips, leading to an all-in cost of 0.82 pips inclusive of a 0.2 pip per trade commission. For CFD accounts, IG maintains average spreads of 0.69 pips during peak trading hours, slightly outperforming the industry average. Notably, IG also offers discounts for high-volume traders through its tiered rebate program, contributing to its 5-star rating and an 8th place ranking among 62 brokers by ForexBrokers.com.
TMGM, on the other hand, offers attractive rates for its Edge account with a straightforward commission of $3.50 per side ($7 per round trip) alongside low spreads. While specific average spread data for EUR/USD was not available, TMGM is known to provide competitive pricing. The choice between TMGM's Classic and Edge accounts impacts trading costs, with the Edge account being more favorable due to its low commission structure. Additionally, for those requiring Sharia-compliant options, the Edge account also offers interest-free accounts. TMGM holds a 4-star rating and ranks 36th out of 62 brokers in the Commissions and Fees category by ForexBrokers.com.
Overall, IG stands out for its broad range of execution methods and expert account offerings, which are highly attractive to active traders. With significant rebates and competitive spreads, IG caters to traders with high-volume demand. Meanwhile, TMGM presents a strong alternative with its low commission Edge account and favorable spread conditions. The distinctions in their offerings and fee structures make each broker appealing to different trading styles and needs.
| Feature |
IG
|
TMGM
|
|---|---|---|
| Minimum Deposit | £250.00 | $100 |
| Average Spread EUR/USD - Standard | 0.98 | N/A |
| All-in Cost EUR/USD - Active | 0.82 | N/A |
| Active Trader or VIP Discounts | Yes | No |
| ACH or SEPA Transfers | Yes | No |
| PayPal (Deposit/Withdraw) | Yes | Yes |
| Skrill (Deposit/Withdraw) | No | Yes |
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
When it comes to comparing IG and TMGM, both online brokers offer forex trading via CFDs or spot contracts. IG stands out with an impressive 19,537 tradeable symbols, including 97 forex pairs, offering investors a wide array of options. In comparison, TMGM provides access to 12,000 tradeable symbols and 62 forex pairs. If investing in actual stocks is on your agenda, IG allows trading in exchange-traded securities on both U.S. and international exchanges, meaning you can delve into companies like Apple and Vodafone. TMGM, however, does not provide this option but makes up for it with its copy trading feature, which some investors find invaluable for strategy replication.
Both brokers facilitate trading in cryptocurrency derivatives, though you won't be able to purchase actual cryptocurrencies through them. IG’s extensive range of investments has earned it a 5-star rating and a #4 ranking in the "Range of Investments" category by ForexBrokers.com. While TMGM is slightly behind with a 4.5-star rating and a #17 ranking, it still provides a solid array of investment options suitable for diverse trading strategies. Ultimately, your choice may boil down to whether features like exchange-traded securities or copy trading better align with your investment goals.
| Feature |
IG
|
TMGM
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 19537 | 12000 |
| Forex Pairs (Total) | 97 | 62 |
| U.S. Stock Trading (Non CFD) | Yes | No |
| Int'l Stock Trading (Non CFD) | Yes | No |
| Social Trading / Copy Trading | No | Yes |
| Cryptocurrency (Physical) | No | 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 IG and TMGM for their trading platforms and tools, IG stands out with its proprietary platform developed in-house, alongside a range of features including both Windows-based and web-based trading options. IG also supports the widely-used MetaTrader 4 platform but lacks support for MetaTrader 5. It offers traders the ability to trade directly from the stock chart and provides a comprehensive charting experience with 20 drawing tools and a choice of five columns for customizable watch lists. IG's overall rating for trading platforms and tools is an impressive five stars, securing the second position among 62 brokers ranked by ForexBrokers.com.
On the other hand, TMGM also offers Windows-based and web-based trading platforms, but does not feature a proprietary platform like IG. TMGM supports both MetaTrader 4 and the more advanced MetaTrader 5, catering to traders who need versatility. While TMGM allows trading directly from charts and includes copy trading features, its charting tools are slightly fewer, with 15 drawing tools. The platform scores four out of five stars and ranks 48th in the ForexBrokers.com list. Though both brokers offer free virtual demo accounts, each has distinctive strengths, making them appealing to different types of traders.
| Feature |
IG
|
TMGM
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | No |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | No | Yes |
| MetaTrader 4 (MT4) | Yes | Yes |
| MetaTrader 5 (MT5) | No | Yes |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 33 | 30 |
| Charting - Drawing Tools (Total) | 20 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 5 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Both IG and TMGM offer mobile trading apps compatible with iPhone and Android, making them accessible for a wide range of users. They also provide stock and forex price alerts, giving traders timely updates. While both apps allow for drawing trendlines and viewing multiple time frames on charts, IG stands out with 33 technical studies compared to TMGM's 30. Moreover, IG's app ensures that any changes to watchlists are synced with your online account, a feature TMGM lacks. Both brokers offer real-time quotes in their watchlists and auto-save drawings on charts, providing a seamless experience for tracking market movements.
When it comes to rankings, IG receives a perfect five-star rating for its mobile trading app, while TMGM earns a commendable four stars. According to ForexBrokers.com, IG positions itself as the leader among 62 brokers, holding the top spot in the Mobile Trading Apps category. In contrast, TMGM finds itself further down the list, ranked at number 47. This difference highlights IG's superior capabilities and features, making it a preferred choice for traders seeking a more comprehensive mobile trading experience.
| Feature |
IG
|
TMGM
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 33 | 30 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | Yes | Yes |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
When comparing the market research offerings between IG and TMGM, both platforms provide valuable insights with daily market commentary and forex news sourced from renowned agencies like Bloomberg and Reuters. For technical and fundamental research tools, IG offers resources from Autochartist, a feature not available with TMGM. Conversely, TMGM distinguishes itself by providing research tools from Trading Central, unlike IG. Both brokers equip traders with sentiment-based trading tools as well as research tools from Acuity Trading, ensuring informed decision-making for their users.
IG further enhances its research facilities with access to market insights from TipRanks, a benefit not extended to TMGM traders. Moreover, both platforms include an economic calendar to keep users informed of significant global events. With these comprehensive offerings, IG earns a 5-star research rating and ranks second out of 62 brokers in ForexBrokers.com's research category. In comparison, TMGM secures a 3.5-star rating and is positioned at number 53. This comparison highlights IG's superior performance in delivering extensive market research tools and resources.
| Feature |
IG
|
TMGM
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | No |
| Trading Central (Recognia) | No | Yes |
| Social Sentiment - Currency Pairs | Yes | Yes |
| TipRanks | Yes | No |
| Signal Centre (Acuity Trading) | Yes | Yes |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When comparing IG and TMGM in terms of educational resources for beginners, IG stands out as a top choice for new traders. IG provides a wealth of learning materials, including over 10 educational pieces focused on forex and CFDs, catering specifically to beginners with at least 10 entry-level educational videos. Furthermore, IG offers monthly live webinars and a convenient searchable archive of recorded sessions, making it easy for learners to access past webinars anytime. An investor dictionary with more than 50 investing terms further supports beginners in expanding their trading knowledge. Rated 5 stars for education and ranked #1 among 62 brokers by ForexBrokers.com, IG excels in its educational offerings.
In contrast, TMGM falls short in providing comprehensive educational resources for beginners. While it does offer a searchable archive of recorded webinars and an investor dictionary with over 50 terms, it lacks the breadth of materials found with IG. TMGM does not provide over 10 forex or CFDs educational pieces, nor does it host monthly client webinars. The absence of at least 10 beginner-focused and advanced educational videos highlights the limitations for those just starting out. With a 3.5-star rating for education and a ranking of #54 out of 62 brokers by ForexBrokers.com, TMGM offers less for beginners looking to deepen their trading knowledge.
| Feature |
IG
|
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 62 of the best forex brokers, our research and account testing finds that IG is better than TMGM. IG finished with an overall rank of #1, while TMGM finished with an overall rank of #37.
IG offers the ultimate comprehensive trading package, featuring excellent trading and research tools, industry-leading education, and an extensive range of tradeable markets.
| Feature |
IG
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TMGM
|
|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 83 |
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Both IG and TMGM do not offer the ability to purchase actual cryptocurrencies for delivery, but they do provide options for trading cryptocurrency derivatives.
When comparing online brokers IG and TMGM, IG supports more flexible funding options with ACH/SEPA transfers, PayPal, Visa/Mastercard, and bank wires, while TMGM offers PayPal, Skrill, Visa/Mastercard, and bank wires, but lacks ACH/SEPA transfer capability.
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 | IG | TMGM | |
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| Trust Score | 99 | 83 | |
| Winner | check_circle | ||
| Review | IG Review | TMGM Review |
| Broker Screenshots | IG | TMGM | |
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| Regulation | IG | TMGM | |
|---|---|---|---|
| Trust Score | 99 | 83 | |
| Year Founded | 1974 | 2013 | |
| Publicly Traded (Listed) | Yes | No | |
| Bank | Yes | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | No | |
| Tier-1 Licenses | 8 | 2 | |
| Tier-2 Licenses | 2 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 2 |
| Tier-1 Licenses (Highly Trusted) | IG | TMGM | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | Yes | |
| Canada (CIRO Authorised) | No | No | |
| Hong Kong (SFC Authorised) | No | No | |
| Japan (SFC Authorised) | Yes | No | |
| Singapore (MAS Authorised) | Yes | No | |
| Switzerland (FINMA Authorised) | Yes | No | |
| United Kingdom (U.K.) (FCA Authorised) | Yes | No | |
| USA (CFTC Authorized) | Yes | No | |
| New Zealand (FMA Authorised) | Yes | Yes | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | No |
| Tier-2 Licenses (Trusted) | IG | TMGM | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | Yes | No | |
| UAE (DFSA/Central Bank Authorised) | Yes | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | IG | TMGM | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 19537 | 12000 | |
| Forex Pairs (Total) | 97 | 62 | |
| U.S. Stock Trading (Non CFD) | Yes | No | |
| Int'l Stock Trading (Non CFD) | Yes | No | |
| Social Trading / Copy Trading | No | Yes | |
| Cryptocurrency (Physical) | No | 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 | IG | TMGM | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 0.98 | N/A | |
| All-in Cost EUR/USD - Active | 0.82 | N/A | |
| Active Trader or VIP Discounts | Yes | No | |
| Inactivity Fee | Yes | Yes | |
| Execution: Agency Broker | Yes | Yes | |
| Execution: Market Maker | Yes | Yes |
| Funding | IG | TMGM | |
|---|---|---|---|
| Minimum Deposit | £250.00 | $100 | |
| PayPal (Deposit/Withdraw) | Yes | Yes | |
| Skrill (Deposit/Withdraw) | No | Yes | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | Yes | No |
| Trading Platforms | IG | TMGM | |
|---|---|---|---|
| Proprietary Platform | Yes | No | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | No | Yes | |
| MetaTrader 4 (MT4) | Yes | Yes | |
| MetaTrader 5 (MT5) | No | Yes | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | IG | TMGM | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 5 | 7 | |
| Charting - Indicators / Studies (Total) | 33 | 30 | |
| Charting - Drawing Tools (Total) | 20 | 15 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | IG | 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 | 33 | 30 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | Yes | Yes | |
| Mobile Economic Calendar | Yes | Yes |
| Research | IG | TMGM | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | No | |
| Trading Central (Recognia) | No | Yes | |
| TipRanks | Yes | No | |
| Social Sentiment - Currency Pairs | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | IG | 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 | IG | 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 | IG Review | TMGM Review |
| Overall | IG | TMGM | |
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| Trust Score | 99 | 83 | |
| Winner | check_circle | ||
| Review | IG Review | TMGM Review |
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