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.
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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 |
Questrade is rated 3 out of 5 stars for its commissions and fees, placing it at rank #58 out of 63 brokers by ForexBrokers.com. The broker's commission structure is less competitive when compared to industry standards, particularly with a target spread of 1.9 pips on the EUR/USD pair, which is considered on the steeper side. While Questrade may provide various services, its fees might not be optimal for cost-conscious traders.
On the other hand, TMGM scores a higher rating of 4 out of 5 stars for its commissions and fees, earning a rank of #36 out of 63 brokers. TMGM offers enticing commission rates, especially with its Edge account, which charges a minimal commission of $3.50 per side alongside low spreads. Although specific average spread data for the EUR/USD is not readily available, the Edge account’s pricing structure is a favored choice for many traders looking for affordability and value. TMGM's offering includes the choice between a spread-only Classic account and the more cost-effective commission-based Edge account, reflecting its versatility and competitive edge.
For those seeking Islamic finance options, TMGM is more accommodating, as only the Edge account supports Sharia-compliant, interest-free trading. In conclusion, while both brokers have their benefits, TMGM edges out Questrade in terms of overall commission and fee structure, making it a more appealing option for budget-conscious investors.
| Feature |
Questrade
|
TMGM
|
|---|---|---|
| Minimum Deposit | $250 | $100 |
| Average Spread EUR/USD - Standard | N/A | N/A |
| All-in Cost EUR/USD - Active | N/A | N/A |
| Active Trader or VIP Discounts | No | No |
| ACH or SEPA Transfers | No | No |
| PayPal (Deposit/Withdraw) | No | Yes |
| Skrill (Deposit/Withdraw) | No | Yes |
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
Questrade and TMGM both provide investors with diverse trading options, each with unique strengths. Questrade supports a significant number of tradable symbols, offering 641 options alongside 110 forex pairs, which include exchange-traded securities on both U.S. and international exchanges, allowing investors to buy stocks like Apple and Vodafone. While Questrade excels in offering a comprehensive range of investments, including cryptocurrency derivatives, it does not provide copy trading or the ability to buy actual cryptocurrencies.
On the other hand, TMGM impresses with an extensive offering of 12,000 tradable symbols, though it provides a more limited selection of 62 forex pairs. TMGM does not offer exchange-traded securities on U.S. or international exchanges, but it supports copy trading, which can be appealing for users looking to mimic successful traders' strategies. Like Questrade, TMGM provides access to cryptocurrency derivatives but not actual cryptocurrencies. While both brokers offer valuable investment opportunities, Questrade ranks higher for its range of investments, earning a 5-star rating and an 11th place ranking by ForexBrokers.com, compared to TMGM's 4.5-star rating and 17th place ranking.
| Feature |
Questrade
|
TMGM
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 641 | 12000 |
| Forex Pairs (Total) | 110 | 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). |
Dive deeper: Best Copy Trading Platforms.
When comparing Questrade and TMGM in terms of their trading platforms and tools, both brokers provide a range of options to facilitate trading experiences for users. Questrade shines with its proprietary platform, offering Windows desktop and web-based platforms. It also provides simulated trading, enabling users to practice with a virtual demo account. Questrade does not support MetaTrader 4 or 5, but offers DupliTrade for strategy automation, boasting 20 drawing tools for charting and allowing direct trades from stock charts. Additionally, Questrade offers an impressive 52 columns for watch lists, allowing detailed tracking of market movements. While it does not support copy trading, Questrade receives a 4-star rating for its platforms and tools, ranking it #34 among 63 brokers, as per ForexBrokers.com.
On the other hand, TMGM supports both MetaTrader 4 and 5, widely known for their advanced analytics and the flexibility of automated trading solutions. TMGM's platforms include a web-based and a Windows-based desktop option, along with simulated trading for practice. Unlike Questrade, TMGM offers copy trading, attracting traders interested in mirroring others’ strategies. However, it lacks a proprietary platform and provides only 15 charting drawing tools. TMGM offers a more limited watch list feature with only 7 columns but maintains the ability to trade directly from stock charts. Despite these differences, TMGM also earns a 4-star rating, positioned at #48 for Trading Platforms and Tools, according to ForexBrokers.com.
| Feature |
Questrade
|
TMGM
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | No |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | No | Yes |
| MetaTrader 4 (MT4) | No | Yes |
| MetaTrader 5 (MT5) | No | Yes |
| DupliTrade | Yes | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 64 | 30 |
| Charting - Drawing Tools (Total) | 20 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 52 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When comparing the mobile trading apps of Questrade and TMGM, both brokers offer comprehensive solutions for iPhone and Android users. Questrade stands out with its advanced features, including 64 technical studies for charting and the ability to sync watchlists between its mobile app and online account. This offers more flexibility and ensures users can seamlessly manage their investments across platforms. TMGM also provides solid mobile trading functionalities, but with fewer technical studies at 30, and lacks the watchlist symbol syncing feature. Both apps allow drawing trendlines and viewing multiple time frames, catering well to both stock and forex traders. In terms of alerts, both Questrade and TMGM enable users to receive price notifications on their mobile devices, ensuring traders stay informed on market changes.
For those interested in watchlist management, Questrade's offering is particularly appealing with its ability to sync and provide real-time quotes. Additionally, while both apps autosave chart drawings to enhance user experience, Questrade's higher ranking of #34 compared to TMGM's #47 in the ForexBrokers.com listing reflects its edge in the mobile trading sector. Despite these differences, both apps offer a commendable user experience, each earning a 4-star rating for their mobile trading capabilities.
| Feature |
Questrade
|
TMGM
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 64 | 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.
When comparing market research features between Questrade and TMGM, potential investors will find distinct strengths. TMGM stands out with its daily market commentary and access to high-quality forex news from top-tier sources like Bloomberg, Reuters, and Dow Jones. It also includes a sentiment-based trading tool to gauge long or short positions, and offers insights through Acuity Trading tools such as Signal Centre. In contrast, Questrade lacks these offerings but compensates with resources from Autochartist for solid technical and fundamental analysis. Both platforms offer tools from Trading Central and have an economic calendar to keep traders updated with global events.
While Questrade benefits from market research through TipRanks, TMGM does not provide this feature, creating different research dynamics for traders to consider. Despite variations in their market analysis offerings, both Questrade and TMGM share a similar research rating of 3.5 stars. However, Questrade is ranked 51st in the research category by ForexBrokers.com, slightly above TMGM which is ranked 53rd out of 63 brokers. These nuances in features and rankings help traders choose the platform that best meets their strategic needs.
| Feature |
Questrade
|
TMGM
|
|---|---|---|
| Daily Market Commentary | No | Yes |
| Forex News (Top-Tier Sources) | No | Yes |
| Autochartist | Yes | No |
| Trading Central (Recognia) | Yes | Yes |
| Social Sentiment - Currency Pairs | No | Yes |
| TipRanks | Yes | No |
| Signal Centre (Acuity Trading) | No | Yes |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When comparing Questrade and TMGM for the educational resources they provide to beginners, each platform presents unique strengths. Questrade excels with a substantial selection of educational materials focused on forex and CFDs, offering more than ten articles, videos, and archived webinars dedicated to these topics. Additionally, Questrade supports beginners with a collection of videos designed to ease newcomers into the world of trading. However, both platforms lack consistent monthly webinars and advanced video resources for seasoned traders. Despite this, Questrade offers a searchable archive of past webinars, providing flexibility for those who wish to learn at their own pace.
On the other hand, TMGM distinguishes itself by providing an investor dictionary with over 50 investing terms, which can be a valuable tool for beginners looking to expand their financial vocabulary. Similar to Questrade, TMGM also maintains a searchable archive of previously recorded webinars. However, TMGM falls short in offering dedicated educational content for beginners or advanced trading videos. While both brokers share a 3.5-star rating in education, Questrade edges out a higher rank at #36 compared to TMGM's #54 in the education category on ForexBrokers.com.
| Feature |
Questrade
|
TMGM
|
|---|---|---|
| Education (Forex or CFDs) | Yes | No |
| Client Webinars | No | No |
| Client Webinars (Archived) | Yes | Yes |
| Videos - Beginner Trading Videos | Yes | No |
| Videos - Advanced Trading Videos | No | 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 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
|
|---|---|---|
| Overall Rating |
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| Trust Score | 86 | 83 |
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Both Questrade and TMGM do not offer the ability to buy actual (delivered) cryptocurrency, but they do provide options for purchasing cryptocurrency derivatives.
While both Questrade and TMGM support Visa, Mastercard, and bank wire options for depositing and withdrawing funds, only TMGM additionally offers PayPal and Skrill, as neither broker provides ACH or SEPA transfer services.
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 |
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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) | No | 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 | 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 | 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 | Questrade | TMGM | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 641 | 12000 | |
| Forex Pairs (Total) | 110 | 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). |
| Cost | Questrade | TMGM | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | N/A | N/A | |
| All-in Cost EUR/USD - Active | N/A | N/A | |
| Active Trader or VIP Discounts | No | No | |
| Inactivity Fee | No | Yes | |
| Execution: Agency Broker | Yes | Yes | |
| Execution: Market Maker | No | Yes |
| Funding | Questrade | TMGM | |
|---|---|---|---|
| Minimum Deposit | $250 | $100 | |
| PayPal (Deposit/Withdraw) | No | Yes | |
| Skrill (Deposit/Withdraw) | No | Yes | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | No | No |
| Trading Platforms | Questrade | TMGM | |
|---|---|---|---|
| Proprietary Platform | Yes | No | |
| Desktop Platform (Windows) | Yes | 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 | Yes | No | |
| ZuluTrade | No | No |
| Trading Tools | Questrade | TMGM | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 52 | 7 | |
| Charting - Indicators / Studies (Total) | 64 | 30 | |
| Charting - Drawing Tools (Total) | 20 | 15 | |
| 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 Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | Yes | No | |
| Mobile Charting - Indicators / Studies | 64 | 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 | Questrade | TMGM | |
|---|---|---|---|
| Daily Market Commentary | No | Yes | |
| Forex News (Top-Tier Sources) | No | Yes | |
| Autochartist | Yes | No | |
| Trading Central (Recognia) | Yes | Yes | |
| TipRanks | Yes | No | |
| Social Sentiment - Currency Pairs | No | Yes | |
| Economic Calendar | Yes | Yes |
| Education | Questrade | TMGM | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | No | |
| Client Webinars | No | No | |
| Client Webinars (Archived) | Yes | Yes | |
| Videos - Beginner Trading Videos | Yes | No | |
| Videos - Advanced Trading Videos | No | No | |
| Investor Dictionary (Glossary) | No | Yes |
| Major Forex Pairs | Questrade | 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 | 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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