Written by ForexBrokers.com
In this head to head comparison of Plus500 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.
Plus500 and TMGM are two online brokers that offer their services to traders around the world, each presenting distinct features and regulatory credentials. Founded in 2008, Plus500 is a publicly traded firm, earning a stellar Trust Score of 99 out of 99 from ForexBrokers.com. This high rating reflects its reliability and security as a trading platform. The company is not a bank, yet it holds an impressive six Tier-1 licenses, signifying that it is among the most trustworthy brokers available. Additionally, Plus500 maintains three Tier-2 licenses, further underscoring its trusted status in the industry.
On the other hand, TMGM, established in 2013, is not publicly listed on any stock exchange but has built a credible reputation with a Trust Score of 83, a mark of trustworthiness according to ForexBrokers.com. Similar to Plus500, TMGM is not a bank, but it holds two Tier-1 licenses, aligning with its trusted status in the trading community. However, it does not possess any Tier-2 licenses. While both brokers are not banks and prioritize safety and trust, Plus500 stands out with a higher number of regulatory licenses and a higher trust score, potentially offering more peace of mind to traders.
| Feature |
Plus500
|
TMGM
|
|---|---|---|
| Year Founded | 2008 | 2013 |
| Publicly Traded (Listed) | Yes | No |
| Bank | No | No |
| Tier-1 Licenses | 6 | 2 |
| Tier-2 Licenses | 3 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 2 | 2 |
Plus500's pricing is slightly above the industry average, particularly when compared to leading forex brokers. With an average spread of 1.5 pips for the EUR/USD in April 2024, Plus500 charges more than many of its competitors. While they do not offer retail discounts, Plus500 does provide cash rebates for qualifying Professional clients, similar to an active trader program. In terms of commissions and fees, Plus500 holds a 4.0-star rating and is ranked #25 out of 63 brokers by ForexBrokers.com.
In contrast, TMGM presents more competitive fee structures, particularly with its Edge account, which offers low spreads without requote issues. Although recent average spread data for the EUR/USD is unavailable, TMGM charges a modest commission of $3.50 per side for the Edge account, or $7 per round trip, which could make it an appealing choice for cost-conscious traders. To cater to various customer needs, TMGM provides the Edge account as an option for interest-free, Sharia-compliant trading. Overall, TMGM also earns a 4-star rating for commissions and fees, but ranks slightly lower at #36 out of 63 brokers on ForexBrokers.com.
In summary, while both Plus500 and TMGM offer quality services, traders might find TMGM's fee structures more attractive due to its lower commissions and the availability of interest-free accounts. However, Plus500 offers cash rebates for certain clients, which could be beneficial depending on trading style and volume. Choosing the right broker ultimately depends on personal trading needs and preferences.
| Feature |
Plus500
|
TMGM
|
|---|---|---|
| Minimum Deposit | €100 | $100 |
| Average Spread EUR/USD - Standard | 1.5 | N/A |
| All-in Cost EUR/USD - Active | 1.5 | N/A |
| Active Trader or VIP Discounts | No | No |
| ACH or SEPA Transfers | No | 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 examining the investment offerings of Plus500 and TMGM, both platforms present compelling options tailored for diverse investing needs. Plus500 impresses with a substantial array of 5,500 tradeable symbols, including 65 forex pairs available as CFDs, ensuring a broad spectrum for traders seeking variety. The platform further distinguishes itself by providing access to exchange-traded securities on both U.S. and international exchanges, allowing clients to purchase shares like Apple and Vodafone directly. However, investors keen on engaging in copy trading or acquiring actual cryptocurrencies might find Plus500's offerings limited in these respects.
TMGM, on the other hand, showcases an impressive lineup with 12,000 tradeable symbols, although it offers a slightly fewer number of forex pairs at 62. While TMGM does not facilitate the direct purchase of exchange-traded securities, it compensates with its support for copy trading, enabling investors to replicate strategies from successful traders. Both platforms allow for cryptocurrency derivatives trading but not the acquisition of actual cryptocurrencies. While Plus500 and TMGM both receive a 4.5-star rating for their range of investments, TMGM ranks slightly better, positioned at #17 compared to Plus500’s #24 in the ForexBrokers.com assessment of 63 brokers.
| Feature |
Plus500
|
TMGM
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 5500 | 12000 |
| Forex Pairs (Total) | 65 | 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). Non-CFD share trading at Plus500 is only available through the Plus500 Invest account. | 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.
Plus500 and TMGM each offer their users a range of trading platforms and tools, but they cater to different trading preferences. Plus500 excels with its proprietary web-based trading platform, which is designed for ease of use, attracting traders who prefer a streamlined browser experience. In contrast, TMGM supports the popular MetaTrader 4 and MetaTrader 5 platforms, giving traders access to advanced features and a rich trading environment. Both brokers offer a demo account for practice trading, but Plus500 stands out for the number of drawing tools it offers for charting, providing 36 options compared to TMGM's 15.
When it comes to specific features, TMGM offers a Windows-based desktop download platform and copy trading, appealing to traders who prefer downloadable software and seek to mirror the trades of successful investors. Meanwhile, Plus500 provides a comprehensive watch list with 10 columns for fields and maintains a higher user rating of 4.5 stars out of five in the Trading Platforms and Tools category, ranking #14 among 63 brokers. On the other hand, TMGM trails with a 4-star rating and ranks #48. Each broker presents a unique set of tools and platforms, catering to varying trader needs and preferences.
| Feature |
Plus500
|
TMGM
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | No |
| Desktop Platform (Windows) | No | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | No | Yes |
| MetaTrader 4 (MT4) | No | Yes |
| MetaTrader 5 (MT5) | No | Yes |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 115 | 30 |
| Charting - Drawing Tools (Total) | 36 | 15 |
| Charting - Trade From Chart | No | Yes |
| Watchlists - Total Fields | 10 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Both Plus500 and TMGM offer comprehensive mobile trading apps available for iPhone and Android users, catering to both stock and forex traders. Notably, both platforms provide essential features such as price alerts and the ability to view multiple time frames on charts. However, Plus500 takes a significant lead in several areas. It supports an impressive 115 technical studies for charting compared to TMGM's 30, and offers watchlist symbol syncing, ensuring seamless updates between the app and online account. TMGM does provide an advantage in automatically saving chart drawings, a feature Plus500 lacks. Both apps enable users to create watchlists with real-time quotes, ensuring traders have up-to-date information at their fingertips.
In terms of overall performance and user satisfaction, Plus500 is rated 4.5 out of 5 stars for its mobile trading app and holds a strong position, ranking 14th out of 63 brokers on ForexBrokers.com. TMGM, while still offering a solid mobile trading experience, has a slightly lower rating of 4 stars and ranks 47th in the same category. These distinctions highlight Plus500's enhanced versatility and user-friendly features, making it a more favorable choice for many mobile traders.
| Feature |
Plus500
|
TMGM
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 115 | 30 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | No | Yes |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
When comparing the market research offerings of online brokers Plus500 and TMGM, both provide daily market commentary, ensuring traders have access to regular insights. While TMGM shines with its access to top-tier forex news from trusted sources like Bloomberg and Reuters, Plus500 lacks in this department. However, each broker offers advanced analytical tools through Trading Central, helping traders with valuable technical analysis. Another commonality between the two is the sentiment-based trading tool that helps users see the proportion of long or short positions on currency pairs.
Diving deeper, TMGM scores with additional resources by offering tools from Acuity Trading, such as Signal Centre, whereas Plus500 does not. Both brokers provide global economic calendars and schedule updates, allowing users to prepare for potential market shifts. Despite these differences, Plus500 edges ahead, earning a 4-star rating in research compared to TMGM's 3.5 stars. Plus500 is ranked 19th among 63 brokers by ForexBrokers.com, while TMGM ranks at 53rd, offering a diverse landscape for traders to evaluate their research tools based on individual needs.
| Feature |
Plus500
|
TMGM
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | No | Yes |
| Autochartist | No | No |
| Trading Central (Recognia) | Yes | 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 for beginners, Plus500 and TMGM offer different sets of tools to get you started on your trading journey. Plus500 excels in delivering a variety of educational materials, including over 10 articles, videos, and archived webinars specifically focused on forex and CFDs. They also provide monthly online webinars and maintain a searchable archive of previous recordings, allowing you to learn at your own pace. Plus500 further supports traders with more than 10 beginner videos aimed precisely at newcomers, as well as advanced videos for those looking to deepen their expertise. However, Plus500 does not offer an investor dictionary.
TMGM, on the other hand, does not offer as wide a range of educational offerings targeted at novice traders. While TMGM does provide a searchable archive of recorded webinars, it lacks the extensive collection of beginner and advanced educational videos that Plus500 provides. TMGM does offer a robust investor dictionary with definitions of over 50 investing terms, which could be a useful resource for traders seeking to familiarize themselves with trading jargon. Despite these resources, TMGM receives a slightly lower education rating compared to Plus500, with an overall ranking of 54 out of 63 brokers by ForexBrokers.com, indicating that Plus500 might be the better option for those prioritizing educational content.
| Feature |
Plus500
|
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) | No | Yes |
Dive deeper: Best Forex Brokers for Beginners.
After testing 63 of the best forex brokers, our research and account testing finds that Plus500 is better than TMGM. Plus500 finished with an overall rank of #14, while TMGM finished with an overall rank of #37.
Plus500 is a trusted global brand that offers an easy-to-use trading platform for online traders, alongside access to a thorough selection of CFDs. Share trading is available, but only via its Plus500 Invest product offering.
| Feature |
Plus500
|
TMGM
|
|---|---|---|
| Overall Rating |
|
|
| Trust Score | 99 | 83 |
| Range of Investments |
|
|
| Commissions & Fees |
|
|
| Platforms & Tools |
|
|
| Research |
|
|
| Mobile Trading |
|
|
| Education |
|
|
Both Plus500 and TMGM do not offer the ability to buy actual delivered cryptocurrency, but they do provide the option to purchase cryptocurrency derivatives.
Both Plus500 and TMGM do not support ACH or SEPA transfers, but they offer a variety of funding and withdrawal options including PayPal, Skrill, Visa, 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.
Select Brokers
↓×Compare
0 of 5| Overall Rating | Plus500 | TMGM | |
|---|---|---|---|
| Overall Rating |
|
| |
| Commissions & Fees |
|
| |
| Range of Investments |
|
| |
| Platforms & Tools |
|
| |
| Mobile Trading |
|
| |
| Research |
|
| |
| Education |
|
| |
| Trust Score | 99 | 83 | |
| Winner | check_circle | ||
| Review | Plus500 Review | TMGM Review |
| Broker Screenshots | Plus500 | TMGM | |
|---|---|---|---|
| Trading Platforms Gallery (click to expand) |
|
| |
| Mobile Trading Gallery (click to expand) |
|
| |
| Research Gallery (click to expand) |
|
| |
| Education Gallery (click to expand) |
|
|
| Regulation | Plus500 | TMGM | |
|---|---|---|---|
| Trust Score | 99 | 83 | |
| Year Founded | 2008 | 2013 | |
| Publicly Traded (Listed) | Yes | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | No | |
| Tier-1 Licenses | 6 | 2 | |
| Tier-2 Licenses | 3 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 2 | 2 |
| Tier-1 Licenses (Highly Trusted) | Plus500 | 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) | No | No | |
| United Kingdom (U.K.) (FCA Authorised) | Yes | No | |
| USA (CFTC Authorized) | No | No | |
| New Zealand (FMA Authorised) | Yes | Yes | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | No |
| Tier-2 Licenses (Trusted) | Plus500 | TMGM | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | Yes | 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 | Plus500 | TMGM | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 5500 | 12000 | |
| Forex Pairs (Total) | 65 | 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). Non-CFD share trading at Plus500 is only available through the Plus500 Invest account. | 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 | Plus500 | TMGM | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.5 | N/A | |
| All-in Cost EUR/USD - Active | 1.5 | N/A | |
| Active Trader or VIP Discounts | No | No | |
| Inactivity Fee | Yes | Yes | |
| Execution: Agency Broker | No | Yes | |
| Execution: Market Maker | Yes | Yes |
| Funding | Plus500 | TMGM | |
|---|---|---|---|
| Minimum Deposit | €100 | $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 | No | No |
| Trading Platforms | Plus500 | TMGM | |
|---|---|---|---|
| Proprietary Platform | Yes | No | |
| Desktop Platform (Windows) | No | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | No | Yes | |
| MetaTrader 4 (MT4) | No | Yes | |
| MetaTrader 5 (MT5) | No | Yes | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | Plus500 | TMGM | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 10 | 7 | |
| Charting - Indicators / Studies (Total) | 115 | 30 | |
| Charting - Drawing Tools (Total) | 36 | 15 | |
| Charting - Trade From Chart | No | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | Plus500 | 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 | 115 | 30 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | No | Yes | |
| Mobile Economic Calendar | Yes | Yes |
| Research | Plus500 | TMGM | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | No | Yes | |
| Autochartist | No | No | |
| Trading Central (Recognia) | Yes | Yes | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | Plus500 | 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) | No | Yes |
| Major Forex Pairs | Plus500 | 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 | Plus500 Review | TMGM Review |
| Overall | Plus500 | TMGM | |
|---|---|---|---|
| Overall Rating |
|
| |
| Commissions & Fees |
|
| |
| Range of Investments |
|
| |
| Platforms & Tools |
|
| |
| Mobile Trading |
|
| |
| Research |
|
| |
| Education |
|
| |
| Trust Score | 99 | 83 | |
| Winner | check_circle | ||
| Review | Plus500 Review | TMGM Review |
IG
CMC Markets
FOREX.com
XTB
eToro
AvaTrade
Plus500
Pepperstone
FP Markets
Tickmill