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 |
When comparing commissions and fees, both OANDA and TMGM offer unique structures tailored to different trading preferences. OANDA's forex trading costs are generally on the higher side, with its standard pricing seeing an average spread of 1.61 pips on the EUR/USD pair. Their core pricing option offers lower spreads but adds a commission of $5 per $100,000 traded, which can translate to a total cost of 1.4 pips for the EUR/USD pair when considering both spread and commission. Despite not being a discount broker, OANDA provides benefits such as automated execution and transparency about spreading costs.
In contrast, TMGM's commissions and fees are more competitive, particularly when using their Edge account. This account charges a $3.50 commission per side ($7 per round trip) alongside low spreads, which may suit traders who prioritize cost efficiency. TMGM also offers an Islamic financing option via the Edge account, catering to clients in need of Sharia-compliant trading. While both brokers offer competitive options for different trading needs, TMGM does not provide specific spread data for detailed cost assessment.
Both OANDA and TMGM receive commendable ratings of 4 out of 5 stars for commissions and fees. According to ForexBrokers.com, OANDA is ranked 34th, while TMGM slightly lags at 36th out of 63 brokers. Despite these differences, the choice between them ultimately hinges on individual trader requirements and account type preferences.
| Feature |
OANDA
|
TMGM
|
|---|---|---|
| Minimum Deposit | $0 | $100 |
| Average Spread EUR/USD - Standard | 1.61 | N/A |
| All-in Cost EUR/USD - Active | 1.61 | N/A |
| Active Trader or VIP Discounts | Yes | No |
| ACH or SEPA Transfers | Yes | No |
| PayPal (Deposit/Withdraw) | Yes | Yes |
| 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 OANDA and TMGM, both platforms offer a wide array of investment opportunities, including forex trading through CFDs or spot contracts. However, the breadth of tradeable symbols significantly differs between the two. OANDA provides access to 3,928 tradeable symbols, whereas TMGM extends its offering to a sizeable 12,000 symbols. Despite this difference, OANDA edges ahead in forex trading options, with 68 tradeable currency pairs compared to TMGM's 62 pairs. One area where both brokers align is in the absence of exchange-traded securities on both U.S. and international exchanges, meaning clients cannot buy direct shares like Apple or Vodafone through these platforms.
Both OANDA and TMGM support copy trading, offering opportunities for traders to mirror successful strategies. However, they diverge in cryptocurrency offerings: OANDA allows clients to buy actual cryptocurrency, a feature TMGM does not offer. Instead, both provide options for trading cryptocurrency derivatives. Despite varying investment ranges, both platforms receive high marks, with OANDA earning 4 stars and TMGM slightly ahead with 4.5 stars for their range of investments. In a ranking of 63 brokers by ForexBrokers.com, OANDA is positioned at #27, while TMGM ranks higher at #17, indicating a broader appeal in investment variety to users.
| Feature |
OANDA
|
TMGM
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 3928 | 12000 |
| Forex Pairs (Total) | 68 | 62 |
| U.S. Stock Trading (Non CFD) | No | No |
| Int'l Stock Trading (Non CFD) | No | No |
| Social Trading / Copy Trading | Yes | 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 the trading platforms and tools offered by OANDA and TMGM, both brokers provide a range of features that cater to various trader preferences. Both OANDA and TMGM offer simulated trading with free virtual demo accounts, allowing new traders to practice before committing real finances. While OANDA boasts a proprietary platform developed in-house, TMGM does not offer proprietary software but still delivers a solid experience with its Windows-based desktop platform and web-based trading options. Both brokers support popular platforms like MetaTrader 4 (MT4) and MetaTrader 5 (MT5) and provide copy trading services, although neither offers DupliTrade or ZuluTrade features.
Charting capabilities highlight further differences between the two: OANDA provides an impressive 431 drawing tools, overshadowing TMGM's 15, which might appeal more to traders who rely heavily on technical analysis. Both brokers permit trading directly from stock charts, but when it comes to watchlist customization, TMGM edges out with seven columns compared to OANDA's six. Despite these differences, both brokers achieve an overall rating of four stars for their trading platforms and tools. Notably, OANDA holds a stronger position in industry rankings, securing the 15th spot out of 63 brokers, while TMGM ranks 48th, reflecting the diverse strengths and considerations each platform brings to traders.
| Feature |
OANDA
|
TMGM
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | 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 | Yes |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 81 | 30 |
| Charting - Drawing Tools (Total) | 431 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 6 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When it comes to mobile trading apps, both OANDA and TMGM offer strong options for traders using either iPhone or Android devices. They each provide essential features including price alerts for stocks or forex, the ability to draw trendlines, and multiple time frame views for charts. Both platforms also ensure your analytical work is preserved by automatically saving chart drawings. However, neither OANDA nor TMGM currently supports watchlist symbol syncing, meaning changes made in the mobile app do not update the online account automatically.
Despite the similarities in functionalities, users have rated OANDA’s mobile app higher, awarding it 5 stars compared to TMGM’s 4-star rating. OANDA also ranks significantly higher on ForexBrokers.com, placed at #7 out of 63 brokers, compared to TMGM’s #47 ranking. Both trading apps offer 30 technical studies for charting and the ability to create a watchlist with real-time quotes, catering well to active traders. While both apps are solid choices, OANDA's superior user rating and higher industry ranking might sway traders who value these distinctions.
| Feature |
OANDA
|
TMGM
|
|---|---|---|
| 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 OANDA and TMGM offer daily market commentary and provide forex news from top-tier sources like Bloomberg and Reuters, making them reliable choices for up-to-date information. However, when it comes to specialized research tools, OANDA stands out by partnering with Autochartist, providing users with advanced technical and fundamental analysis options, while TMGM does not offer Autochartist tools. Meanwhile, TMGM distinguishes itself with its collaboration with Trading Central and Acuity Trading, offering users tools like Technical Analytics and the Signal Centre, which are absent in OANDA's suite of offerings.
For traders who rely on sentiment analysis, both brokers provide tools that display the ratio of long and short positions, helping investors gauge market mood. While each offers an economic calendar tracking global financial events, OANDA's overall research capabilities are rated higher, achieving a 5-star rating in comparison to TMGM's 3.5-star score. On the ForexBrokers.com ranking, OANDA excels, securing the 5th position out of 63 brokers in the Research category, while TMGM trails significantly, ranked at 53. This highlights OANDA as a top choice for those prioritizing high-quality research in their trading activities.
| Feature |
OANDA
|
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 | No | No |
| Signal Centre (Acuity Trading) | No | Yes |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When it comes to educational resources tailored for beginners, OANDA stands out compared to TMGM. OANDA offers a wealth of learning materials, including over ten articles, videos, and archived webinars focusing on forex and CFDs. Additionally, OANDA hosts online educational webinars every month and provides a searchable archive of recorded sessions. In terms of educational video content, OANDA excels with over ten videos targeting beginners and another set for advanced traders. TMGM, on the other hand, falls short in these areas, lacking a similar range of educational articles, webinars, and videos. Both brokers have an investor dictionary covering at least 50 investing terms, but OANDA's comprehensive approach to education gives it a notable edge.
OANDA receives a top rating of five stars for its educational offerings, while TMGM garners a rating of 3.5 stars. This is reflected in their rankings by ForexBrokers.com, where OANDA is placed 22nd out of 63 brokers in the Education category, while TMGM sits at 54th. For beginners seeking extensive educational resources to boost their trading skills, OANDA presents a more well-rounded and informative choice than TMGM.
| Feature |
OANDA
|
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 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
|
|---|---|---|
| Overall Rating |
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| Trust Score | 93 | 83 |
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OANDA provides the option to purchase actual cryptocurrencies in addition to cryptocurrency derivatives, while TMGM offers only cryptocurrency derivatives.
When comparing the online brokers OANDA and TMGM, OANDA provides a broader range of deposit and withdrawal options including ACH and SEPA transfers, PayPal, Skrill, Visa or Mastercard, and bank wires, whereas TMGM supports options such as PayPal, Skrill, Visa or Mastercard, and bank wires, but 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) | No | No | |
| 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) | 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 | OANDA | TMGM | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 3928 | 12000 | |
| Forex Pairs (Total) | 68 | 62 | |
| U.S. Stock Trading (Non CFD) | No | No | |
| Int'l Stock Trading (Non CFD) | No | No | |
| Social Trading / Copy Trading | Yes | 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 | OANDA | TMGM | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.61 | N/A | |
| All-in Cost EUR/USD - Active | 1.61 | N/A | |
| Active Trader or VIP Discounts | Yes | No | |
| Inactivity Fee | Yes | Yes | |
| Execution: Agency Broker | No | Yes | |
| Execution: Market Maker | Yes | Yes |
| Funding | OANDA | TMGM | |
|---|---|---|---|
| Minimum Deposit | $0 | $100 | |
| PayPal (Deposit/Withdraw) | Yes | Yes | |
| Skrill (Deposit/Withdraw) | Yes | Yes | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | Yes | No |
| Trading Platforms | OANDA | TMGM | |
|---|---|---|---|
| Proprietary Platform | Yes | 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 | Yes | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | OANDA | TMGM | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 6 | 7 | |
| Charting - Indicators / Studies (Total) | 81 | 30 | |
| Charting - Drawing Tools (Total) | 431 | 15 | |
| 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 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 | OANDA | TMGM | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | No | |
| Trading Central (Recognia) | No | Yes | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | OANDA | 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 | OANDA | 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 | 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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