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TMGM vs Xtrade 2023

ForexBrokers.com

Written by ForexBrokers.com

December 27, 2022

Is TMGM better than Xtrade? In our analysis of 23 international regulators across 62 of the best forex brokers, TMGM is considered average-risk, with an overall Trust Score of 79 out of 99. Xtrade is considered average-risk, with an overall Trust Score of 80 out of 99. Learn more about Trust Score.

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Overall RatingTMGMXtrade
Overall Rating 4/5 Stars 3.5/5 Stars
Commissions & Fees 4/5 Stars 2.5/5 Stars
Offering of Investments 5/5 Stars 3.5/5 Stars
Platform & Tools 4/5 Stars 3/5 Stars
Mobile Trading 4/5 Stars 3/5 Stars
Research 3.5/5 Stars 3/5 Stars
Education 4.5/5 Stars 3.5/5 Stars
Trust Score 79 80
Winner check_circle
Review TMGM Review
RegulationTMGMXtrade
Trust Score 79 80
Year Founded 2013 2003
Publicly Traded (Listed) No No
Bank No No
Authorised in European Union No info No
Tier-1 Licenses 2 1
Tier-2 Licenses 0 2
Tier-3 Licenses 1 1
Tier-1 Licenses (High Trust)TMGMXtrade
ASIC Authorised (Australia) Yes Yes
IIROC Authorised (Canada) No No
SFC Authorised (Hong Kong) No No
CBI Authorised (Ireland) No No
FSA Authorised (Japan) No No
MAS Authorised (Singapore) No No
FINMA Authorised (Switzerland) No No
FCA Authorised (U.K.) No No
CFTC Registered (USA) No No
FMA Authorised (New Zealand) Yes No
Tier-2 Licenses (Average Trust)TMGMXtrade
CBRC Authorised (China) No No
CySEC Authorised (Cyprus) No Yes
SEBI Authorised (India) No No
ISA Authorised (Israel) No No
CBR Authorised (Russia) No No
FSCA Authorised (South Africa) No Yes
SEC Authorised (Thailand) No No
DFSA / Central Bank Authorised (UAE) No No
Tier-3 Licenses (Low Trust)TMGMXtrade
SCB Authorised (Bahamas) No No
IFSC Authorised (Belize) No Yes
CIMA Authorised (Cayman Islands) No No
BMA Authorised (Bermuda) No No
FSC Authorised (British Virgin Islands) No No
FSC Authorised (Mauritius) No No
VFSC Authorised (Vanuatu) Yes No
InvestmentsTMGMXtrade
Forex Trading (Spot or CFDs) Yes Yes
Tradeable Symbols (Total) 12000 142
Forex Pairs (Total) 62 56
U.S. Stock Trading (Non CFD) No No
Int'l Stock Trading (Non CFD) No No
Social Trading / Copy Trading Yes No
Cryptocurrency (Physical) No No
Cryptocurrency (CFD) 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).
CostTMGMXtrade
Average Spread EUR/USD - Standard 0.96 info N/A info
All-in Cost EUR/USD - Active 0.76 info N/A info
Active Trader or VIP Discounts Yes Yes
Execution: Agency Broker Yes No
Execution: Market Maker No Yes
FundingTMGMXtrade
Minimum Deposit $100 $250
PayPal (Deposit/Withdraw) No No
Skrill (Deposit/Withdraw) Yes Yes
Visa/Mastercard (Credit/Debit) Yes Yes
Bank Wire (Deposit/Withdraw) Yes Yes
Trading PlatformsTMGMXtrade
Proprietary Platform Yes Yes
Desktop Platform (Windows) Yes No
Web Platform Yes Yes
Social Trading / Copy Trading Yes No
MetaTrader 4 (MT4) Yes No
MetaTrader 5 (MT5) No No
cTrader No No
DupliTrade No No
ZuluTrade No No
Trading ToolsTMGMXtrade
Virtual Trading (Demo) Yes Yes
Alerts - Basic Fields Yes No
Watchlists - Total Fields 7 9
Charting - Indicators / Studies (Total) 30 N/A
Charting - Drawing Tools (Total) 15 18
Charting - Trade From Chart Yes No
Charts can be saved Yes No
Mobile TradingTMGMXtrade
Android App Yes Yes
Apple iOS App Yes Yes
Mobile Alerts - Basic Fields Yes No
Mobile Watchlist Yes No
Watchlist Syncing No No
Mobile Charting - Indicators / Studies 30 N/A
Mobile Charting - Draw Trendlines Yes No
Mobile Charting - Multiple Time Frames Yes No
Mobile Charting - Drawings Autosave No No
Forex Calendar No No
ResearchTMGMXtrade
Daily Market Commentary Yes Yes
Forex News (Top-Tier Sources) Yes Yes
Autochartist No No
Trading Central (Recognia) Yes No
Social Sentiment - Currency Pairs Yes No
Economic Calendar Yes Yes
EducationTMGMXtrade
Has Education - Forex or CFDs Yes Yes
Client Webinars Yes No
Client Webinars (Archived) Yes No
Videos - Beginner Trading Videos No No
Videos - Advanced Trading Videos No No
Investor Dictionary (Glossary) Yes Yes
Major Forex PairsTMGMXtrade
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 TMGM Review
OverallTMGMXtrade
Overall Rating 4/5 Stars 3.5/5 Stars
Commissions & Fees 4/5 Stars 2.5/5 Stars
Offering of Investments 5/5 Stars 3.5/5 Stars
Platform & Tools 4/5 Stars 3/5 Stars
Mobile Trading 4/5 Stars 3/5 Stars
Research 3.5/5 Stars 3/5 Stars
Education 4.5/5 Stars 3.5/5 Stars
Trust Score 79 80
Winner check_circle
Review TMGM Review
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TMGM vs Xtrade Comparison

Comparing forex brokers side by side is no easy task. For our 2023 annual forex broker review, we spent hundreds of hours assessing 62 forex and CFD brokerages to find the best forex broker. Let's compare TMGM vs Xtrade.

Does TMGM or Xtrade offer lower pricing?

Comparing the trading costs of forex and CFDs is not easy. Not every broker publishes average spreads data, and pricing structures vary. Based on our thorough annual assessment, TMGM offers better pricing overall for traders.

Is TMGM or Xtrade safer for forex and CFDs trading?

At ForexBrokers.com, we track where each forex and CFD broker is regulated across over 23 international regulator databases. Here's our findings. TMGM holds 2 global Tier-1 licenses, while Xtrade holds 1. Xtrade holds 2 global Tier-2 licenses, while TMGM holds 0. In our analysis of 23 international regulators across 50 brokers, Xtrade earned a higher Trust Score than TMGM.

Which trading platform is better: TMGM or Xtrade?

To compare the trading platforms of both TMGM and Xtrade, we tested each broker's trading tools, research capabilities, and mobile apps. For trading tools, TMGM offers a better experience. With research, TMGM offers superior market research. Finally, we found TMGM to provide better mobile trading apps.

What about MetaTrader and copy trading?

For forex and CFDs traders, copy trading and MetaTrader are both popular platform options. Neither broker offers Meta Trader.Copy trading is not offered by either broker.

How many forex pairs and CFDs are available to trade?

TMGM provides traders 62 currency pairs (e.g., EUR/USD) compared to Xtrade's 56 available pairs. Forex pairs aside, TMGM offers traders access to 12000 CFDs while Xtrade has 142 available CFDs, a difference of 11858.

Can I trust TMGM?

TMGM is not publicly traded and does not operate a bank. TMGM is authorised by two tier-1 regulators (high trust), zero tier-2 regulators (average trust), and one tier-3 regulator (low trust). TMGM is authorised by the following tier-1 regulators: the Australian Securities & Investment Commission (ASIC) and the Financial Markets Authority (FMA).

Can I trust Xtrade?

Xtrade is not publicly traded and does not operate a bank. Xtrade is authorised by one tier-1 regulator (high trust), two tier-2 regulator (average trust), and one tier-3 regulator (low trust). Xtrade is authorised by the following tier-1 regulators: Australian Securities & Investment Commission (ASIC).

Is TMGM good?

TMGM stands out for its impressive education toolset, though it still trails behind the best brokers in most categories. TMGM offers a small range of markets via the MetaTrader 4 (MT4) platform. While primarily a MetaTrader broker, it also offers the more exclusive IRESS platform โ€“ though the platform-specific requirements will limit who can use it.

Is Xtrade good?

Xtrade is regulated in multiple jurisdictions and offers forex and CFD traders its own trading platform, yet with barely 200 symbols that you can trade it trails behind the best forex brokers.

Overall winner: TMGM

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