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 |
In comparing the commissions and fees of IG and TMGM, it's clear both brokers offer unique advantages depending on your trading style. IG, a well-established player, offers scalability in execution across its products. Its Forex Direct accounts cater to active traders with competitive pricing and the capacity to handle large orders. IG's average spread in July 2023 was 0.62 pips, moving to 0.82 when factoring in a 0.2-pip commission. For contract for difference (CFD) accounts, spreads averaged 0.69 pips during most of the trading day. IG also incentivizes high-volume traders with rebates, offering up to 20% spread reduction for those trading over £300 million monthly. IG's Forex Direct accounts provide a more dynamic option with discount possibilities based on trading volume. Rated five stars and ranked #8 out of 63 brokers for commissions and fees by ForexBrokers.com, IG is a strong choice for active traders.
TMGM, while slightly less distinguished in industry rankings, maintains a commendable offering, especially in its Edge account. This account type charges a commission of $3.50 per side, equating to $7 per round trip, in addition to competitive prevailing spreads. Although specific average spread data for the EUR/USD was unavailable, the cost structure remains appealing. TMGM caters to diverse trading preferences with its choice between the spread-only Classic account and the commission-based Edge account; the latter also supports Islamic finance customers with its swap-free option. Receiving four stars and ranked #36 out of 63 brokers, TMGM is a feasible option for cost-conscious traders who prefer transparency in commission fees.
In summary, IG excels in providing scalable execution and competitive rebates for high-volume traders, earning it a higher rating and ranking. TMGM stands out for its straightforward commission structure and flexibility in account options, making it an attractive option for traders adhering to Islamic finance principles. Each broker delivers key benefits tailored to the needs of different trading strategies.
| 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.
In comparing IG and TMGM for their investment offerings, IG stands out with an impressive array of 19,537 tradeable symbols, far surpassing TMGM's 12,000 options. IG provides access to a larger number of forex pairs, boasting 97 compared to TMGM's 62. Furthermore, IG supports trading in exchange-traded securities on both U.S. and international exchanges, an option not available with TMGM. This means IG users can directly invest in shares like Apple and Vodafone, among others, providing a broader investment landscape.
While IG offers the ability to purchase actual cryptocurrencies, TMGM restricts users to cryptocurrency derivatives only. On the other hand, TMGM offers copy trading, a feature IG lacks, which enables investors to mimic trading strategies of successful traders. In terms of recognition, IG receives a five-star rating for its range of investments and is ranked 4th out of 63 brokers according to ForexBrokers.com. Meanwhile, TMGM secures a respectable 4.5-star rating and ranks 17th in the same category, emphasizing both platforms' strengths in delivering varied investment vehicles for their users.
| 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) | 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 IG and TMGM for their trading platforms and tools, both brokers offer a range of options, yet they cater to slightly different user needs. IG provides a proprietary platform developed in-house, which may appeal to traders seeking a unique and tailored experience. Both brokers support Windows-based desktop and web-based platforms, ensuring accessibility across various devices. IG and TMGM each offer free virtual demo accounts for simulated trading, allowing users to hone their skills without financial risk. While both platforms support MetaTrader 4 (MT4), only TMGM offers MetaTrader 5 (MT5), providing more flexibility to those interested in this popular software.
For traders interested in copy trading, TMGM has the edge, as IG does not offer this feature. IG excels in charting capabilities, providing 20 drawing tools compared to TMGM’s 15. Additionally, IG allows trading directly from stock charts, similar to TMGM. Watch lists are slightly more customizable with TMGM, offering seven columns versus IG’s five. Overall, IG is rated higher for its trading platforms and tools, receiving five stars and ranking second out of 63 brokers according to ForexBrokers.com. TMGM, while still proficient, is rated four stars and ranks 48th in the same category.
| 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.
When comparing IG and TMGM for their mobile trading apps, both brokers offer iPhone and Android options, allowing users to trade on-the-go seamlessly. They also provide stock and forex price alerts, keeping traders updated on market movements. One major difference is that IG supports watchlist symbol syncing, which ensures any changes made to watchlists on mobile apps or online accounts are automatically updated across all platforms. TMGM, however, does not offer this feature, which could be a consideration for traders seeking a more integrated experience across devices.
In terms of charting capabilities, both IG and TMGM allow users to draw trendlines, view multiple time frames, and autosave drawings — essential tools for technical analysis. IG, however, provides slightly more variety with 33 technical studies compared to TMGM's 30. When it comes to creating watchlists with real-time quotes, both brokers deliver, but IG stands out with a perfect 5-star rating for its mobile trading apps and ranks number one out of 63 brokers according to ForexBrokers.com. TMGM, while still offering a solid experience with a 4-star rating, ranks 47th, making IG the more highly-rated choice for those prioritizing app functionality and features.
| 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 IG and TMGM for market research offerings, both brokers provide valuable resources for traders. IG excels with offerings such as daily market commentary and forex news from top-tier sources like Bloomberg, Reuters, and Dow Jones. Additionally, IG uses Autochartist tools and includes comprehensive market insights from TipRanks. They also provide sentiment-based trading tools and resources from Acuity Trading, ensuring traders have access to a wide range of market information. TMGM, on the other hand, also delivers daily commentary and news from top-tier sources. While they support analysis tools from Trading Central and Acuity Trading, they do not use Autochartist or offer TipRanks insights.
Both brokers come equipped with economic calendars to help traders keep track of important global news events. However, based on ratings, IG seems to have the edge with a 5-star research rating, ranking #2 out of 63 brokers, whereas TMGM holds a 3.5-star rating and ranks #53. This suggests IG may provide a more comprehensive research experience compared to TMGM, making it a preferred option for traders who prioritize in-depth market analysis 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 it comes to educational resources for beginners in forex and CFDs, IG outshines TMGM. IG offers a comprehensive range of materials, including over 10 beginner educational videos and an accessible dictionary with more than 50 investing terms. Beginners can also benefit from IG's regular monthly webinars, along with a convenient archive of previously recorded sessions. In contrast, TMGM does not provide the same depth of beginner-focused videos or regular webinars, though it does maintain an archive of past webinars and includes a dictionary of investing terms.
IG's commitment to education is reflected in its top-tier rating of 5 stars for educational resources and its #1 ranking out of 63 brokers on ForexBrokers.com. Its rich array of beginner and advanced materials helps nurture traders at all levels. TMGM, while providing some useful tools, such as a searchable archive of webinars and a dictionary, receives a 3.5-star rating and lands at #54 in the education category. This comparison highlights IG as the more comprehensive choice, especially for those just starting their trading journey.
| 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 63 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
|
TMGM
|
|---|---|---|
| Overall Rating |
|
|
| Trust Score | 99 | 83 |
| Range of Investments |
|
|
| Commissions & Fees |
|
|
| Platforms & Tools |
|
|
| Research |
|
|
| Mobile Trading |
|
|
| Education |
|
|
IG allows users to buy actual, delivered cryptocurrency and also offers cryptocurrency derivatives, while TMGM only provides the option to trade 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.
Select Brokers
↓×Compare
0 of 5| Overall Rating | IG | TMGM | |
|---|---|---|---|
| Overall Rating |
|
| |
| Commissions & Fees |
|
| |
| Range of Investments |
|
| |
| Platforms & Tools |
|
| |
| Mobile Trading |
|
| |
| Research |
|
| |
| Education |
|
| |
| Trust Score | 99 | 83 | |
| Winner | check_circle | ||
| Review | IG Review | TMGM Review |
| Broker Screenshots | IG | TMGM | |
|---|---|---|---|
| Trading Platforms Gallery (click to expand) |
|
| |
| Mobile Trading Gallery (click to expand) |
|
| |
| Research Gallery (click to expand) |
|
| |
| Education Gallery (click to expand) |
|
|
| 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) | 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 | 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 | |
|---|---|---|---|
| Overall Rating |
|
| |
| Commissions & Fees |
|
| |
| Range of Investments |
|
| |
| Platforms & Tools |
|
| |
| Mobile Trading |
|
| |
| Research |
|
| |
| Education |
|
| |
| Trust Score | 99 | 83 | |
| Winner | check_circle | ||
| Review | IG Review | TMGM Review |
IG
CMC Markets
FOREX.com
XTB
eToro
AvaTrade
Plus500
Pepperstone
FP Markets
Tickmill