Written by ForexBrokers.com
In this head to head comparison of OANDA 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.
OANDA and TMGM are two online brokers that have carved out their niches in the financial services industry, with OANDA operating since 1996 and TMGM being a newer entrant since 2013. Neither OANDA nor TMGM is publicly traded or operates as a bank, but there are notable differences in their level of regulatory oversight. OANDA proudly holds seven Tier-1 licenses, which are regarded as highly trusted by ForexBrokers.com, giving it a strong regulatory foundation. In contrast, TMGM holds two Tier-1 licenses, reflecting a lower degree of regulatory trust in comparison.
When comparing trustworthiness using ForexBrokers.com Trust Scores, OANDA achieves an impressive score of 93 out of 99, placing it in the 'highly trusted' category. On the other hand, TMGM's score of 83 still places it within the 'trusted' range but falls short of OANDA's more secure standing. For investors and traders seeking peace of mind in the regulatory landscape, these scores and licensing differences play a key role in assessing the relative trust levels of both brokers.
| Feature |
OANDA
|
TMGM
|
|---|---|---|
| Year Founded | 1996 | 2013 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 7 | 2 |
| Tier-2 Licenses | 0 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 2 |
OANDA and TMGM both earn 4 out of 5 stars for commissions and fees, but they differ in how costs are structured and disclosed. OANDA ranks #35 of 63 brokers for this category at ForexBrokers.com, while TMGM ranks #37. In short, OANDA’s overall trading costs tend to be on the higher side versus top competitors, whereas TMGM’s Edge account advertises low commissions but does not publish recent average spread data for key pairs like EUR/USD, which makes apples-to-apples comparisons harder.
OANDA offers two pricing paths. Its default, commission-free pricing showed an average EUR/USD spread of 1.61 pips in July 2024. The Core account lowers the spread but adds a per-side commission of $5 per $100,000 traded (about $10 per round turn on a standard lot) and requires a $10,000 minimum deposit. Using a simple example: if the default spread is 1.6 pips and Core shows 0.4 pips, adding the commission (roughly 1.0 pip all-in) brings the total Core cost to about 1.4 pips—slightly cheaper than default. OANDA also lets you trade from just 1 unit (far smaller than a micro lot), offers volume-based rebates ($5–$17 per million) and TradingView subscription reimbursements in select regions, and publishes trailing spread data, though not fixed-period averages.
TMGM’s fees depend on account choice: the Classic account is spread-only, while the Edge account adds a small commission of $3.50 per side ($7 round trip) alongside low spreads and no requotes. Islamic, swap-free accounts are available only on the Edge plan. The main drawback is transparency—TMGM does not provide recent average spread figures for EUR/USD, a data point many leading brokers share and traders rely on to judge true costs. If you value smaller trade sizes, published (though trailing) spread data, and potential rebates, OANDA can appeal despite higher spreads. If you prefer a low-commission model and can accept limited spread disclosure, TMGM’s Edge account may fit—keeping in mind its 4-star rating and #37 ranking versus OANDA’s 4-star rating and #35 ranking.
| Feature |
OANDA
|
TMGM
|
|---|---|---|
| Minimum Deposit | $0 | $100 |
| Average spread (EUR/USD) - Standard account | 1.69 | N/A |
| All-in Cost EUR/USD - Active | 1.69 | N/A |
| Non-wire bank transfer | Yes | No |
| PayPal (Deposit/Withdraw) | Yes | |
| Skrill (Deposit/Withdraw) | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes |
Dive deeper: Best Low Spread Forex Brokers.
OANDA and TMGM both support forex trading (CFD and/or spot, depending on your region). TMGM lists far more total instruments, with about 12,000 tradeable symbols versus OANDA’s 4,172. That said, OANDA offers slightly more forex pairs (69 vs. 62). OANDA also lets you buy exchange-traded stocks on U.S. and international exchanges, which TMGM does not support. For crypto, OANDA provides both real (delivered) cryptocurrencies and crypto CFDs, while TMGM offers crypto CFDs only. Both brokers include copy trading.
In independent reviews for range of investments, TMGM earns 4.5 stars and ranks #18 out of 63 brokers, while OANDA earns 4 stars and ranks #28. Choose TMGM if you value the widest overall selection of symbols via CFDs. Pick OANDA if you want access to U.S. and global stocks, the ability to buy actual crypto, and a slightly larger list of forex pairs.
| Feature |
OANDA
|
TMGM
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 4172 | 12000 |
| Forex Pairs (Total) | 69 | 62 |
| U.S. Stocks (Shares) | Yes | No |
| Global Stocks (Non-U.S. Shares) | Yes | No |
| Copy Trading | Yes | Yes |
| Cryptocurrency (Underlying) | Yes | No |
| Cryptocurrency (CFDs) | 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.
OANDA and TMGM both check key boxes for traders who want flexibility and ease of use. Each broker offers a free demo account for simulated (paper) trading, plus both provide Windows desktop and web-based platforms. You’ll also find popular third‑party options like MetaTrader 4 (MT4) and MetaTrader 5 (MT5), along with copy trading and the ability to place orders directly from charts. One notable difference: OANDA offers its own in‑house trading platform, while TMGM relies on third‑party platforms.
When it comes to recognition, both brokers earn 4 out of 5 stars for Trading Platforms and Tools. However, OANDA ranks higher in this category, placing #15 out of 63 brokers on ForexBrokers.com, compared with TMGM at #49. If you value having both a proprietary platform and MetaTrader alongside strong chart‑based trading and demo access, OANDA has the edge; if you’re satisfied with MT4/MT5 plus copy trading on desktop and web, TMGM fits the bill.
| Feature |
OANDA
|
TMGM
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Desktop Trading Platform | Yes | No |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Copy Trading | Yes | Yes |
| MetaTrader 4 (MT4) | Yes | Yes |
| MetaTrader 5 (MT5) | Yes | Yes |
| Charting - Indicators / Studies (Total) | 89 | 30 |
| Charting - Trade From Chart | Yes | Yes |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Comparing OANDA vs TMGM for mobile trading apps, both brokers offer iPhone and Android apps with price alerts. Each app supports 30 technical studies for charting, plus the ability to draw trendlines, and drawings auto-save. One limitation is shared: neither broker syncs watchlists between the mobile app and the online account, so changes don’t carry over automatically.
Where they differ is quality scores. OANDA earns 5 stars and ranks #7 out of 63 brokers for Mobile Trading Apps on ForexBrokers.com, while TMGM earns 4 stars and ranks #48. If you want one of the highest-rated mobile trading experiences, OANDA stands out. If you’re already trading with TMGM, its app covers the core tools traders expect on the go.
| Feature |
OANDA
|
TMGM
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Price Alerts | Yes | Yes |
| Mobile Watchlists - Syncing | No | No |
| Mobile Charting - Indicators / Studies | 30 | 30 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Trendlines Autosave | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
Comparing market research at OANDA vs TMGM: both brokers deliver daily market commentary, premium forex news from top-tier sources, sentiment tools that show long/short positioning, and an economic calendar. In independent evaluations, OANDA earns 5 stars for Research and ranks #4 out of 63 brokers, while TMGM earns 3.5 stars and ranks #54.
Their toolsets differ. OANDA includes Autochartist for technical and fundamental insights, but does not offer Trading Central or Acuity Trading tools, and neither broker uses TipRanks. TMGM flips that mix by offering Trading Central and Acuity Trading’s tools, but not Autochartist. If you want Autochartist and a higher-rated overall research experience, OANDA stands out. If Trading Central and Acuity Trading are must-haves, TMGM may suit you better.
| Feature |
OANDA
|
TMGM
|
|---|---|---|
| Daily Market Commentary (Articles) | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | No |
| Trading Central | No | Yes |
| Client sentiment data | Yes | Yes |
| TipRanks | No | No |
| Acuity Trading | No | Yes |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
For beginners comparing forex and CFD education at OANDA and TMGM, OANDA offers a clearer path to learning. OANDA runs online client webinars at least once a month and provides at least 10 beginner video lessons, plus at least 10 advanced videos to grow your skills over time. TMGM does not host monthly educational webinars and does not have at least 10 beginner or advanced videos, which can make it harder for new traders to find structured, step-by-step content.
Independent ratings back this up: OANDA earns 5 stars for Education and ranks #19 out of 63 brokers on ForexBrokers.com, while TMGM holds 3.5 stars and ranks #54. If you want frequent webinars and a deeper library of video lessons designed for newcomers to forex and CFDs, OANDA is the stronger pick; TMGM may fit traders who need only a lighter set of materials.
| Feature |
OANDA
|
TMGM
|
|---|---|---|
| Webinars | Yes | No |
| Videos - Beginner Trading Videos | Yes | No |
| Videos - Advanced Trading Videos | Yes | No |
Dive deeper: Best Forex Brokers for Beginners.
After testing 63 of the best forex brokers, our research and account testing finds that OANDA is better than TMGM. OANDA finished with an overall rank of #12, while TMGM finished with an overall rank of #37.
A trusted global brand, OANDA stands out for its reputation and quality market research. Its regulatory track record is strong, and its support for third-party features bolsters its overall offering.
| Feature |
OANDA
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TMGM
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| Trust Score | 93 | 83 |
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Comparing online brokers OANDA vs TMGM: both offer cryptocurrency CFDs, but only OANDA lets you buy actual delivered crypto, while TMGM provides CFDs only.
OANDA vs TMGM: the online broker OANDA supports ACH/SEPA transfers, PayPal, Skrill, and bank wire deposits and withdrawals, while TMGM does not offer ACH or SEPA transfers.
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 | OANDA | TMGM | |
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| Trust Score | 93 | 83 | |
| Winner | check_circle | ||
| Review | OANDA Review | TMGM Review |
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| Regulation | OANDA | TMGM | |
|---|---|---|---|
| Trust Score | 93 | 83 | |
| Year Founded | 1996 | 2013 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | No | |
| Tier-1 Licenses | 7 | 2 | |
| Tier-2 Licenses | 0 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 2 |
| Tier-1 Licenses (Highly Trusted) | OANDA | TMGM | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | Yes | |
| Canada (CIRO Authorised) | Yes | No | |
| Hong Kong (SFC Authorised) | No | No | |
| Japan (SFC Authorised) | Yes | No | |
| Singapore (MAS Authorised) | Yes | No | |
| Switzerland (FINMA Authorised) | |||
| United Kingdom (U.K.) (FCA Authorised) | Yes | No | |
| USA (CFTC Authorized) | Yes | No | |
| New Zealand (FMA Authorised) | No | Yes | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | No |
| Tier-2 Licenses (Trusted) | OANDA | TMGM | |
|---|---|---|---|
| Kenya (CMA Authorised) | |||
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA, FSRA, or SCA Authorised) | No | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) |
| Investments | OANDA | TMGM | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 4172 | 12000 | |
| Forex Pairs (Total) | 69 | 62 | |
| U.S. Stocks (Shares) | Yes | No | |
| Global Stocks (Non-U.S. Shares) | Yes | No | |
| Copy Trading | Yes | Yes | |
| Cryptocurrency (Underlying) | Yes | No | |
| Cryptocurrency (CFDs) | 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 | OANDA | TMGM | |
|---|---|---|---|
| Average spread (EUR/USD) - Standard account | 1.69 | N/A | |
| All-in Cost EUR/USD - Active | 1.69 | N/A | |
| Inactivity Fee | Yes | Yes | |
| Order execution: Agency | No | Yes | |
| Order execution: Market Maker | Yes | Yes |
| Funding | OANDA | TMGM | |
|---|---|---|---|
| Minimum Deposit | $0 | $100 | |
| PayPal (Deposit/Withdraw) | Yes | ||
| Skrill (Deposit/Withdraw) | Yes | ||
| Bank Wire (Deposit/Withdraw) | Yes | ||
| Non-wire bank transfer | Yes | No |
| Trading Platforms | OANDA | TMGM | |
|---|---|---|---|
| Proprietary Desktop Trading Platform | Yes | No | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Copy Trading | Yes | Yes | |
| MetaTrader 4 (MT4) | Yes | Yes | |
| MetaTrader 5 (MT5) | Yes | Yes | |
| cTrader | No | No |
| Trading Tools | OANDA | TMGM | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Price Alerts | Yes | Yes | |
| Charting - Indicators / Studies (Total) | 89 | 30 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | OANDA | TMGM | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Price Alerts | Yes | Yes | |
| Mobile Watchlist [DELETED] | |||
| Mobile Watchlists - Syncing | No | No | |
| Mobile Charting - Indicators / Studies | 30 | 30 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Trendlines Autosave | Yes | Yes | |
| Mobile Research - Economic Calendar | Yes | Yes |
| Research | OANDA | TMGM | |
|---|---|---|---|
| Daily Market Commentary (Articles) | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | No | |
| Trading Central | No | Yes | |
| TipRanks | No | No | |
| Client sentiment data | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | OANDA | TMGM | |
|---|---|---|---|
| Webinars | Yes | No | |
| Videos - Beginner Trading Videos | Yes | No | |
| Videos - Advanced Trading Videos | Yes | No |
| Major Forex Pairs | OANDA | TMGM | |
|---|---|---|---|
| GBP/USD [DELETED] | |||
| USD/JPY [DELETED] | |||
| EUR/USD | Yes | Yes | |
| USD/CHF [DELETED] | |||
| USD/CAD [DELETED] | |||
| NZD/USD [DELETED] | |||
| AUD/USD [DELETED] | |||
| Review | OANDA Review | TMGM Review |
| Overall | OANDA | TMGM | |
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| Trust Score | 93 | 83 | |
| Winner | check_circle | ||
| Review | OANDA Review | TMGM Review |
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