Written by ForexBrokers.com
In this head to head comparison of Questrade 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.
Questrade and TMGM are two prominent online brokerage services established in 2000 and 2013, respectively. Despite neither being publicly traded or classified as a bank, both brokers demonstrate strong regulatory foundations with two Tier-1 licenses each, highlighting their reliability. ForexBrokers.com awards Questrade a Trust Score of 86, placing it in the trusted category. Meanwhile, TMGM, with a Trust Score of 83, also finds itself in the trusted range, just slightly below Questrade.
When comparing these brokers, it is important to note their similar standing in terms of licensing and regulation. Both Questrade and TMGM operate under credible oversight, providing clients with reassurance. Although Questrade has a marginally higher trust rating, both platforms maintain enough regulatory standing to consider them safe choices for online investing.
| Feature |
Questrade
|
TMGM
|
|---|---|---|
| Year Founded | 2000 | 2013 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 2 | 2 |
| Tier-2 Licenses | 0 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 2 |
Comparing commissions and fees, TMGM tends to be the more cost-friendly pick for active forex traders, while Questrade looks pricier on key pairs. Questrade’s target spread of 1.9 pips on EUR/USD is steep versus the industry average. In our ratings, Questrade scores 3 out of 5 stars and ranks #59 of 63 for Commissions and Fees at ForexBrokers.com, whereas TMGM earns 4 out of 5 stars and ranks #37 of 63.
Questrade’s higher EUR/USD spread (1.9 pips) can add up quickly for frequent trades, making its overall trading costs less appealing for tight-spread strategies. That cost profile underpins its 3/5 star rating and #59 ranking in the Commissions and Fees category.
TMGM’s pricing varies by account: the Classic account is spread-only, while the Edge account adds a small commission of $3.50 per side ($7 round trip) on top of typically low spreads, and it advertises no requotes. Recent average spread data for EUR/USD was not available from TMGM; top forex brokers usually publish this data to help compare total costs. Note: swap-free (interest-free) Islamic accounts are available only with the Edge account, not the Classic option.
| Feature |
Questrade
|
TMGM
|
|---|---|---|
| Minimum Deposit | $250 | $100 |
| Average spread (EUR/USD) - Standard account | N/A | N/A |
| All-in Cost EUR/USD - Active | N/A | N/A |
| Non-wire bank transfer | No | No |
| PayPal (Deposit/Withdraw) | No | |
| Skrill (Deposit/Withdraw) | No | |
| Bank Wire (Deposit/Withdraw) | Yes |
Dive deeper: Best Low Spread Forex Brokers.
Comparing Questrade vs. TMGM on range of investments: both support forex trading (CFD or spot) and offer cryptocurrency CFDs, while neither lets you buy actual crypto. TMGM lists about 12,000 tradeable symbols—far more than Questrade’s 641—but Questrade provides more forex pairs (110 vs. 62 for TMGM).
A key difference is access to real shares. Questrade lets you buy exchange-traded securities on U.S. and international exchanges (for example, Apple on NASDAQ or Vodafone in London), while TMGM does not offer direct share dealing. TMGM does offer copy trading, which Questrade lacks. Reflecting these options, ForexBrokers.com rates Questrade 5 stars (ranked 12th of 63) for Range of Investments and TMGM 4.5 stars (18th of 63).
| Feature |
Questrade
|
TMGM
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 641 | 12000 |
| Forex Pairs (Total) | 110 | 62 |
| U.S. Stocks (Shares) | Yes | No |
| Global Stocks (Non-U.S. Shares) | Yes | No |
| Copy Trading | No | Yes |
| Cryptocurrency (Underlying) | No | 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). |
Dive deeper: Best Copy Trading Platforms.
Questrade and TMGM both offer free paper trading via demo accounts, plus web-based and Windows desktop platforms with the ability to place trades directly from charts. Questrade provides a proprietary, in-house platform, while TMGM focuses on third‑party platforms, including MetaTrader 4 (MT4) and MetaTrader 5 (MT5). If you’re looking for copy trading, TMGM offers it; Questrade does not.
Both brokers earn 4 out of 5 stars for trading platforms and tools. However, their standings differ: Questrade is ranked #35 out of 63 brokers by ForexBrokers.com, while TMGM is ranked #49. Choose Questrade if you prefer an in-house platform experience, or go with TMGM if you want MetaTrader 4/5 and access to copy trading.
| Feature |
Questrade
|
TMGM
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Desktop Trading Platform | Yes | No |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Copy Trading | No | Yes |
| MetaTrader 4 (MT4) | No | Yes |
| MetaTrader 5 (MT5) | No | Yes |
| Charting - Indicators / Studies (Total) | 64 | 30 |
| Charting - Trade From Chart | Yes | Yes |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Questrade and TMGM both offer mobile trading apps for iPhone and Android, complete with price alerts to help you track stocks or forex. Questrade stands out for watchlist syncing between its mobile app and your online account, while TMGM does not sync watchlists. For charting, Questrade provides 64 technical studies versus TMGM’s 30, and both apps let you draw trendlines and automatically save your drawings.
Both brokers earn 4 out of 5 stars for Mobile Trading Apps. However, in ForexBrokers.com’s rankings out of 63 brokers, Questrade places #35 while TMGM is #48. If you want deeper indicator selection and synced watchlists, Questrade has the edge; if you just need core mobile trading features on iPhone or Android, TMGM still covers the basics.
| Feature |
Questrade
|
TMGM
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Price Alerts | Yes | Yes |
| Mobile Watchlists - Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 64 | 30 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Trendlines Autosave | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
Comparing market research at Questrade and TMGM, both earn 3.5 out of 5 stars, with Questrade ranked #52 and TMGM #54 out of 63 brokers by ForexBrokers.com. TMGM delivers daily market commentary and streams top-tier forex news (e.g., Bloomberg/Reuters-style feeds), while Questrade’s access to these premium news wires isn’t specified. Both brokers include Trading Central and an economic calendar.
For extra tools, the two brokers diverge. Questrade offers Autochartist and TipRanks, appealing if you want pattern recognition plus stock-focused insights. TMGM counters with a sentiment tool that shows long/short positioning and research from Acuity Trading (e.g., Signal Centre), which can help with trade ideas and market mood. In short: pick Questrade for Autochartist and TipRanks; pick TMGM for daily commentary, premium forex news, sentiment data, and Acuity-powered research.
| Feature |
Questrade
|
TMGM
|
|---|---|---|
| Daily Market Commentary (Articles) | No | Yes |
| Forex News (Top-Tier Sources) | Yes | |
| Autochartist | Yes | No |
| Trading Central | Yes | Yes |
| Client sentiment data | No | Yes |
| TipRanks | Yes | No |
| Acuity Trading | No | Yes |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
For beginner-friendly trading education, Questrade pulls ahead of TMGM. Questrade provides at least 10 beginner-focused videos that cover core trading topics, making it easier for new investors to learn at their own pace. TMGM does not meet that benchmark. Neither broker runs monthly educational webinars, and both fall short on advanced video libraries (fewer than 10 videos aimed at experienced traders), which matters if you plan to keep learning as your skills grow.
Both brokers earn 3.5 stars for Education from ForexBrokers.com, but Questrade ranks higher overall (#36 out of 63) compared with TMGM (#54 out of 63). If you value an accessible video library to get started, Questrade is the stronger pick; TMGM may require supplementing with outside resources.
| Feature |
Questrade
|
TMGM
|
|---|---|---|
| Webinars | No | No |
| Videos - Beginner Trading Videos | Yes | No |
| Videos - Advanced Trading Videos | No | No |
Dive deeper: Best Forex Brokers for Beginners.
After testing 63 of the best forex brokers, our research and account testing finds that Questrade is better than TMGM. Questrade finished with an overall rank of #32, while TMGM finished with an overall rank of #37.
Regulated in both the U.S. and Canada, Questrade is a trusted full-service multi-asset broker now offering forex and CFDs alongside its stock trading services for active and passive investors. While its scope of educational resources and in-house research is limited, Questrade has an impressive platform lineup.
| Feature |
Questrade
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TMGM
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|---|---|---|
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| Trust Score | 86 | 83 |
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Questrade and TMGM both do not offer the ability to buy actual (delivered) cryptocurrency, but each does offer trading in cryptocurrency CFDs.
Questrade vs TMGM: based on the available details, both brokers do not support ACH or SEPA transfers for deposits or withdrawals; Questrade also does not support PayPal or Skrill and does allow bank wire funding, while the availability of PayPal, Skrill, Visa/Mastercard, and bank wires at TMGM—as well as Visa/Mastercard at Questrade—is not specified here.
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 | Questrade | TMGM | |
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| Trust Score | 86 | 83 | |
| Winner | check_circle | ||
| Review | Questrade Review | TMGM Review |
| Broker Screenshots | Questrade | TMGM | |
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| Regulation | Questrade | TMGM | |
|---|---|---|---|
| Trust Score | 86 | 83 | |
| Year Founded | 2000 | 2013 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | No | No | |
| Tier-1 Licenses | 2 | 2 | |
| Tier-2 Licenses | 0 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 2 |
| Tier-1 Licenses (Highly Trusted) | Questrade | TMGM | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | ||
| Canada (CIRO Authorised) | Yes | No | |
| Hong Kong (SFC Authorised) | No | No | |
| Japan (SFC Authorised) | No | No | |
| Singapore (MAS Authorised) | No | No | |
| Switzerland (FINMA Authorised) | No | ||
| United Kingdom (U.K.) (FCA Authorised) | No | No | |
| USA (CFTC Authorized) | No | No | |
| New Zealand (FMA Authorised) | No | Yes | |
| Regulated in one or more EU or EEA countries (MiFID). | No | No |
| Tier-2 Licenses (Trusted) | Questrade | TMGM | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | ||
| 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) | No |
| Investments | Questrade | TMGM | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 641 | 12000 | |
| Forex Pairs (Total) | 110 | 62 | |
| U.S. Stocks (Shares) | Yes | No | |
| Global Stocks (Non-U.S. Shares) | Yes | No | |
| Copy Trading | No | Yes | |
| Cryptocurrency (Underlying) | No | 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). |
| Cost | Questrade | TMGM | |
|---|---|---|---|
| Average spread (EUR/USD) - Standard account | N/A | N/A | |
| All-in Cost EUR/USD - Active | N/A | N/A | |
| Inactivity Fee | No | Yes | |
| Order execution: Agency | Yes | Yes | |
| Order execution: Market Maker | No | Yes |
| Funding | Questrade | TMGM | |
|---|---|---|---|
| Minimum Deposit | $250 | $100 | |
| PayPal (Deposit/Withdraw) | No | ||
| Skrill (Deposit/Withdraw) | No | ||
| Bank Wire (Deposit/Withdraw) | Yes | ||
| Non-wire bank transfer | No | No |
| Trading Platforms | Questrade | TMGM | |
|---|---|---|---|
| Proprietary Desktop Trading Platform | Yes | No | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Copy Trading | No | Yes | |
| MetaTrader 4 (MT4) | No | Yes | |
| MetaTrader 5 (MT5) | No | Yes | |
| cTrader | No | No |
| Trading Tools | Questrade | TMGM | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Price Alerts | Yes | Yes | |
| Charting - Indicators / Studies (Total) | 64 | 30 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | Questrade | TMGM | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Price Alerts | Yes | Yes | |
| Mobile Watchlist [DELETED] | |||
| Mobile Watchlists - Syncing | Yes | No | |
| Mobile Charting - Indicators / Studies | 64 | 30 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Trendlines Autosave | Yes | Yes | |
| Mobile Research - Economic Calendar | Yes | Yes |
| Research | Questrade | TMGM | |
|---|---|---|---|
| Daily Market Commentary (Articles) | No | Yes | |
| Forex News (Top-Tier Sources) | Yes | ||
| Autochartist | Yes | No | |
| Trading Central | Yes | Yes | |
| TipRanks | Yes | No | |
| Client sentiment data | No | Yes | |
| Economic Calendar | Yes | Yes |
| Education | Questrade | TMGM | |
|---|---|---|---|
| Webinars | No | No | |
| Videos - Beginner Trading Videos | Yes | No | |
| Videos - Advanced Trading Videos | No | No |
| Major Forex Pairs | Questrade | TMGM | |
|---|---|---|---|
| GBP/USD [DELETED] | |||
| USD/JPY [DELETED] | |||
| EUR/USD | Yes | Yes | |
| USD/CHF [DELETED] | |||
| USD/CAD [DELETED] | |||
| NZD/USD [DELETED] | |||
| AUD/USD [DELETED] | |||
| Review | Questrade Review | TMGM Review |
| Overall | Questrade | TMGM | |
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| Trust Score | 86 | 83 | |
| Winner | check_circle | ||
| Review | Questrade Review | TMGM Review |
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