Written by ForexBrokers.com
In this head to head comparison of TMGM vs IronFX, 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.
TMGM and IronFX, both established players in the online brokerage sector, share many similarities yet have distinct characteristics worth noting. TMGM was founded in 2013, while IronFX began operations in 2010. Neither broker is publicly traded or operates as a bank, which can be a consideration for investors seeking more transparency typically associated with listed companies or banking institutions. Both brokers hold a Trust Score of 83 out of 99 from ForexBrokers.com, indicating a trusted status in the industry.
In terms of regulatory oversight, TMGM holds two Tier-1 licenses, reflecting a high level of trust. IronFX, on the other hand, holds three Tier-1 licenses, suggesting slightly stronger regulatory backing. Neither firm holds any Tier-2 licenses, which are also regarded as trusted by ForexBrokers.com. While both brokers provide a trusted trading environment, IronFX edges out with an additional Tier-1 license, potentially offering an extra layer of regulatory assurance to its clients.
| Feature |
TMGM
|
IronFX
|
|---|---|---|
| Year Founded | 2013 | 2010 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 2 | 3 |
| Tier-2 Licenses | 0 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 2 | 1 |
When comparing TMGM and IronFX regarding commissions and fees, TMGM stands out with its competitive rates. TMGM offers two accounts: the spread-only Classic account and the commission-based Edge account, which charges a modest $3.50 per side ($7 per round trip) alongside low spreads. Notably, the Edge account is beneficial for those seeking interest-free accounts, as it serves Islamic finance customers who need Sharia-compliant options. Despite not having average spread data for EUR/USD, TMGM is favorably viewed with a four-star rating in this category and ranks 36th out of 63 brokers on ForexBrokers.com.
Contrastingly, IronFX's pricing structure shows room for improvement, as its spreads tend to be higher than the industry average. For instance, IronFX's Standard variable spread account lists a typical spread of 1.8 pips, although it lacks transparency about the data range. Meanwhile, their zero fixed-spread account begins at a spread of zero but comes with a hefty $18 per lot commission and increases spreads to 3 pips overnight. IronFX similarly holds a four-star rating for commissions and fees yet ranks slightly lower at 46th out of 63 brokers on ForexBrokers.com.
| Feature |
TMGM
|
IronFX
|
|---|---|---|
| Minimum Deposit | $100 | $50 |
| Average Spread EUR/USD - Standard | N/A | 1.2 |
| All-in Cost EUR/USD - Active | N/A | N/A |
| Active Trader or VIP Discounts | No | Yes |
| ACH or SEPA Transfers | No | No |
| PayPal (Deposit/Withdraw) | Yes | No |
| Skrill (Deposit/Withdraw) | Yes | Yes |
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
When comparing TMGM and IronFX, both brokers provide forex trading options through CFDs or spot contracts, but they differ significantly in the variety of investments available. TMGM stands out with a staggering 12,000 tradeable symbols, outpacing IronFX, which offers only 340. Despite this vast difference in overall symbols, IronFX provides 83 tradeable forex pairs, slightly surpassing TMGM's 62 pairs. Neither broker allows the purchase of exchange-traded securities on U.S. or international exchanges, such as buying shares of Apple or Vodafone directly.
Both TMGM and IronFX offer the ability to engage in copy trading, as well as trade cryptocurrency derivatives, but do not support purchasing actual cryptocurrencies. In terms of ratings, TMGM triumphs with a 4.5-star rating for its range of investments, compared to IronFX's 3.5 stars. Additionally, TMGM is ranked 17th out of 63 brokers by ForexBrokers.com in the Range of Investments category, while IronFX is positioned at 51st. This gives TMGM a notable edge for those seeking diverse trading opportunities.
| Feature |
TMGM
|
IronFX
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 12000 | 340 |
| Forex Pairs (Total) | 62 | 83 |
| U.S. Stock Trading (Non CFD) | No | No |
| Int'l Stock Trading (Non CFD) | No | No |
| Social Trading / Copy Trading | Yes | 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.
TMGM and IronFX both cater to traders with their comprehensive offerings of trading platforms and tools. For traders looking to test strategies, both brokers provide a free virtual demo account. While neither TMGM nor IronFX offers a proprietary trading platform, they both support the popular MetaTrader 4 (MT4) platform and provide a Windows-based desktop download and a web-based trading platform. However, TMGM has the edge with access to MetaTrader 5 (MT5), which IronFX does not offer. Additionally, both brokers facilitate copy trading, allowing users to mirror the trades of others with ease.
When it comes to trading tools, TMGM and IronFX share several similarities. Both offer 15 drawing tools for charting, and allow traders to execute trades directly from stock charts. They also provide the ability to customize watch lists with 7 different columns. Though their offerings are closely matched, TMGM receives a slightly higher rating of 4 stars for their platforms and tools compared to IronFX's 3.5 stars. Consequently, TMGM ranks higher at 48th place compared to IronFX, which stands at 61st out of 63 brokers, according to ForexBrokers.com.
| Feature |
TMGM
|
IronFX
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | No | No |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | Yes | Yes |
| MetaTrader 4 (MT4) | Yes | Yes |
| MetaTrader 5 (MT5) | Yes | No |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 30 | 30 |
| Charting - Drawing Tools (Total) | 15 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 7 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Both TMGM and IronFX offer comprehensive mobile trading apps for iPhone and Android users. These apps provide critical features such as stock and forex price alerts, the ability to draw trendlines, view multiple time frames, and create watchlists with real-time quotes. Users of both platforms can enjoy 30 technical studies for their charting needs, although neither app currently supports sync of watchlist symbols between the mobile app and the client’s online account.
However, TMGM tends to have a slight edge over IronFX when it comes to user satisfaction. While TMGM's app is rated 4 out of 5 stars, IronFX's app trails closely with a 3.5-star rating. Furthermore, as per ForexBrokers.com, TMGM is ranked 47th in the Mobile Trading Apps category out of 63 brokers, whereas IronFX stands at 62nd. Both apps automatically save chart drawings, ensuring a seamless trading experience across devices. If you value app ranking and user ratings, TMGM may be the preferred choice for mobile trading.
| Feature |
TMGM
|
IronFX
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | No | No |
| Mobile Charting - Indicators / Studies | 30 | 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.
Both TMGM and IronFX provide their users with daily market commentary and access to high-quality forex news from reputable sources like Bloomberg, Reuters, and Dow Jones. When it comes to technical analysis tools, they both offer support through Trading Central, which helps traders with technical analytics. However, neither broker offers tools from Autochartist, and both lack market research support from TipRanks. TMGM stands out by offering sentiment-based trading tools that provide insights into market positions, a feature IronFX does not provide.
Additionally, TMGM enhances its research offerings with tools from Acuity Trading, such as Signal Centre, while IronFX does not include these in their services. Both brokers have an economic calendar that tracks global news events, ensuring traders are informed of potential market impacts. Despite TMGM’s varied offerings, IronFX is rated slightly higher at 4 stars for research compared to TMGM’s 3.5. Furthermore, IronFX holds a superior research ranking, sitting at #28 out of 63 brokers according to ForexBrokers.com, whereas TMGM is positioned at #53.
| Feature |
TMGM
|
IronFX
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | No | No |
| Trading Central (Recognia) | Yes | Yes |
| Social Sentiment - Currency Pairs | Yes | No |
| TipRanks | No | No |
| Signal Centre (Acuity Trading) | Yes | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When it comes to educational resources for beginners, IronFX appears to have a more comprehensive offering compared to TMGM. IronFX provides a wealth of educational materials, including more than 10 pieces focused on forex or CFDs, and at least 10 educational videos specifically designed for beginners. In addition to these resources, IronFX also offers a searchable archive of past webinars and a detailed investor dictionary with over 50 investing terms, ensuring that new traders have ample learning tools at their disposal. TMGM, while also having a searchable archive of webinars and a rich investor dictionary, falls short in providing beginner-centric content. Unlike IronFX, TMGM does not offer a substantial number of educational pieces or beginner-focused videos.
In terms of education ratings, IronFX scores a solid 4 stars, placing it 44th out of 63 brokers on ForexBrokers.com's list for education. TMGM, on the other hand, receives 3.5 stars and ranks 54th. Both brokers do not provide monthly online webinars, which might be a consideration for those who prefer live educational sessions. Overall, if you're a beginner looking for a broker with an extensive array of learning resources, IronFX could be the better choice, providing a slightly more rounded educational experience.
| Feature |
TMGM
|
IronFX
|
|---|---|---|
| Education (Forex or CFDs) | No | Yes |
| Client Webinars | No | No |
| Client Webinars (Archived) | Yes | Yes |
| Videos - Beginner Trading Videos | No | Yes |
| Videos - Advanced Trading Videos | No | 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 TMGM is better than IronFX. TMGM finished with an overall rank of #37, while IronFX finished with an overall rank of #48.
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.
| Feature |
TMGM
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IronFX
|
|---|---|---|
| Overall Rating |
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| Trust Score | 83 | 83 |
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Neither TMGM nor IronFX allows the purchase of actual, delivered cryptocurrency, but both platforms offer the ability to trade cryptocurrency derivatives.
When comparing online brokers TMGM and IronFX, neither offers ACH or SEPA transfers for account transactions, but TMGM provides more flexibility with PayPal, while both platforms support deposits and withdrawals via Skrill, Visa or Mastercard, and bank wires.
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 | TMGM | IronFX | |
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| Trust Score | 83 | 83 | |
| Winner | check_circle | ||
| Review | TMGM Review |
| Broker Screenshots | TMGM | IronFX | |
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| Regulation | TMGM | IronFX | |
|---|---|---|---|
| Trust Score | 83 | 83 | |
| Year Founded | 2013 | 2010 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | No | Yes | |
| Tier-1 Licenses | 2 | 3 | |
| Tier-2 Licenses | 0 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 2 | 1 |
| Tier-1 Licenses (Highly Trusted) | TMGM | IronFX | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | Yes | |
| Canada (CIRO Authorised) | No | No | |
| Hong Kong (SFC Authorised) | No | No | |
| Japan (SFC Authorised) | No | No | |
| Singapore (MAS Authorised) | No | No | |
| Switzerland (FINMA Authorised) | No | No | |
| United Kingdom (U.K.) (FCA Authorised) | No | Yes | |
| USA (CFTC Authorized) | No | No | |
| New Zealand (FMA Authorised) | Yes | No | |
| Regulated in one or more EU or EEA countries (MiFID). | No | Yes |
| Tier-2 Licenses (Trusted) | TMGM | IronFX | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA/Central Bank Authorised) | No | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | TMGM | IronFX | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 12000 | 340 | |
| Forex Pairs (Total) | 62 | 83 | |
| U.S. Stock Trading (Non CFD) | No | No | |
| Int'l Stock Trading (Non CFD) | No | No | |
| Social Trading / Copy Trading | Yes | 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 | TMGM | IronFX | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | N/A | 1.2 | |
| All-in Cost EUR/USD - Active | N/A | N/A | |
| Active Trader or VIP Discounts | No | Yes | |
| Inactivity Fee | Yes | No | |
| Execution: Agency Broker | Yes | Yes | |
| Execution: Market Maker | Yes | Yes |
| Funding | TMGM | IronFX | |
|---|---|---|---|
| Minimum Deposit | $100 | $50 | |
| PayPal (Deposit/Withdraw) | Yes | No | |
| Skrill (Deposit/Withdraw) | Yes | Yes | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | No | No |
| Trading Platforms | TMGM | IronFX | |
|---|---|---|---|
| Proprietary Platform | No | No | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | Yes | |
| MetaTrader 4 (MT4) | Yes | Yes | |
| MetaTrader 5 (MT5) | Yes | No | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | TMGM | IronFX | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 7 | 7 | |
| Charting - Indicators / Studies (Total) | 30 | 30 | |
| Charting - Drawing Tools (Total) | 15 | 15 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | TMGM | IronFX | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | No | No | |
| Mobile Charting - Indicators / Studies | 30 | 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 | TMGM | IronFX | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | No | No | |
| Trading Central (Recognia) | Yes | Yes | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | No | |
| Economic Calendar | Yes | Yes |
| Education | TMGM | IronFX | |
|---|---|---|---|
| Education (Forex or CFDs) | No | Yes | |
| Client Webinars | No | No | |
| Client Webinars (Archived) | Yes | Yes | |
| Videos - Beginner Trading Videos | No | Yes | |
| Videos - Advanced Trading Videos | No | No | |
| Investor Dictionary (Glossary) | Yes | Yes |
| Major Forex Pairs | TMGM | IronFX | |
|---|---|---|---|
| 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 | TMGM Review |
| Overall | TMGM | IronFX | |
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| Trust Score | 83 | 83 | |
| Winner | check_circle | ||
| Review | TMGM Review |
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