Written by ForexBrokers.com
In this head to head comparison of TMGM vs Xtrade, 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.
Founded in 2013, TMGM has built a reputation for trustworthiness in the online trading industry. Although not publicly traded or a bank, TMGM holds two Tier-1 licenses, indicating a high degree of trust as per ForexBrokers.com's criteria. With a Trust Score of 83 out of 99, TMGM is categorized as a trusted broker, providing a reliable option for those looking to engage in online trading activities.
In comparison, Xtrade has been operational since 2003 and also isn't publicly traded or a bank. It carries one Tier-1 license and one Tier-2 license, denoting a mix of high and moderate trust levels. Xtrade has a Trust Score of 74, placing it in the average risk category according to ForexBrokers.com. This makes Xtrade a viable option for traders who are comfortable with taking on a slightly higher level of risk.
| Feature |
TMGM
|
Xtrade
|
|---|---|---|
| Year Founded | 2013 | 2003 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 2 | 1 |
| Tier-2 Licenses | 0 | 1 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 2 | 1 |
When it comes to commissions and fees, TMGM stands out with its competitive pricing, especially for those choosing the Edge account. TMGM offers a low commission of $3.50 per side ($7 per round trip) and benefits from low spreads, which makes it appealing for cost-conscious traders. However, the absence of average spread data for the EUR/USD might be a drawback for those seeking more transparency. Islamic finance customers needing Sharia-compliant accounts can also opt for the Edge account, as it includes an interest-free option. Overall, TMGM scores high with a 4-star rating for its fees and commissions from ForexBrokers.com and ranks 36th out of 63 brokers.
In contrast, Xtrade does not provide average spread data, which can make it challenging for traders to accurately assess overall trading costs. This lack of transparency in fees places Xtrade at a disadvantage compared to brokers who openly share this information. As a result, Xtrade receives a lower rating of 2.5 stars for commissions and fees from ForexBrokers.com and is ranked 63rd among 63 reviewed brokers.
Overall, TMGM offers more transparent and competitive pricing than Xtrade. The difference in star ratings and rankings highlights TMGM's better performance in terms of commissions and fees, making it a more attractive option for traders focused on minimizing their costs.
| Feature |
TMGM
|
Xtrade
|
|---|---|---|
| Minimum Deposit | $100 | $250 |
| 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) | Yes | No |
| 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 TMGM and Xtrade regarding their available range of investments, both platforms allow for forex trading through CFDs. However, TMGM stands out with a significantly larger selection, offering 12,000 tradeable symbols, including 62 forex pairs, compared to Xtrade's 482 tradeable symbols with 56 forex pairs. While neither TMGM nor Xtrade gives clients access to exchange-traded securities on U.S. or international exchanges, they both provide the option to trade cryptocurrency derivatives, but not actual cryptocurrencies. An added advantage of TMGM is the availability of copy trading, a feature not offered by Xtrade.
Based on these offerings, TMGM holds a higher rating of 4.5 stars for their range of investments, compared to Xtrade's 3.5 stars. In the ForexBrokers.com ranking, TMGM secures the 17th position out of 63 brokers in the Range of Investments category, illustrating their wider array of investment options. On the other hand, Xtrade is ranked 49th, reflecting a more limited selection for potential investors.
| Feature |
TMGM
|
Xtrade
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 12000 | 482 |
| 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 (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 TMGM and Xtrade on their trading platforms and tools, TMGM stands out due to its support for MetaTrader 4 (MT4) and MetaTrader 5 (MT5), two highly popular platforms known for their comprehensive trading capabilities. While Xtrade boasts a proprietary platform developed in-house, it does not support MT4 or MT5. TMGM offers both a Windows-based desktop download platform and a web-based trading option, whereas Xtrade only provides a web-based platform. Furthermore, TMGM supports copy trading, a feature Xtrade lacks, adding to the appeal for traders interested in mirroring successful trading strategies. Both brokers offer the opportunity to practice in a risk-free environment with virtual demo accounts, allowing traders to simulate trades and familiarize themselves with their respective platforms.
For charting and watch list features, TMGM and Xtrade provide unique benefits. TMGM offers 15 drawing tools and allows trading directly from stock charts, catering to traders who prefer visual analysis. Xtrade, however, offers an impressive 100 drawing tools, providing extensive charting customization. For watch list columns, Xtrade offers more fields than TMGM, with nine compared to TMGM's seven. Despite these differences, both brokers enable trading directly from stock charts, enhancing user experience. However, TMGM secures a higher rating of 4 stars for its trading platforms and tools compared to Xtrade's 3.5 stars. TMGM also holds a better position in industry rankings, reflecting its competitive offerings in trading platforms and tools among brokers.
| Feature |
TMGM
|
Xtrade
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | No | Yes |
| Desktop Platform (Windows) | Yes | No |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | Yes | No |
| MetaTrader 4 (MT4) | Yes | No |
| MetaTrader 5 (MT5) | Yes | No |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 30 | N/A |
| Charting - Drawing Tools (Total) | 15 | 100 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 7 | 9 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When comparing the mobile trading apps of TMGM and Xtrade, both brokers offer apps for iPhone and Android users. However, TMGM takes the lead with features such as stock and forex price alerts, which Xtrade does not provide. TMGM also supports drawing trendlines and offers the ability to view multiple time frames on charts, enhancing the trading experience by providing more insights and flexibility. In contrast, Xtrade lacks this functionality, which may limit how traders analyze market trends. Moreover, TMGM's app enables users to create watchlists with real-time quotes, a feature missing in Xtrade's app.
Although both TMGM and Xtrade rate evenly with 4 stars for mobile trading apps, TMGM is ranked higher at #47 compared to Xtrade's #53, according to ForexBrokers.com. Despite both apps lacking watchlist symbol syncing with their online counterparts, TMGM offers a more comprehensive charting experience with 30 technical studies and auto-saving drawing capabilities, adding value to its users. These features give TMGM an edge for traders who prioritize detailed chart analysis and real-time data management on their mobile devices.
| Feature |
TMGM
|
Xtrade
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | 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 | Yes | No |
| Mobile Watchlist | Yes | No |
Dive deeper: Best Forex Trading Apps.
Both TMGM and Xtrade provide daily market commentary as well as forex news from reputable sources like Bloomberg, Reuters, and Dow Jones. However, when it comes to technical analysis tools, TMGM has the edge by offering resources from Trading Central, which Xtrade lacks. Furthermore, TMGM provides a sentiment-based trading tool, allowing users to gauge long or short position ratios across various instruments, a feature not available with Xtrade. On the other hand, neither broker offers research tools from Autochartist or market research from TipRanks.
For investors seeking additional research tools, TMGM stands out with offerings from Acuity Trading like the Signal Centre, which are absent in Xtrade's platform. Both brokers include an economic calendar that highlights upcoming global news events. Despite their offerings, both are rated 3.5 stars for research, with Xtrade slightly ahead in ranking at 52nd compared to TMGM's 53rd out of 63 brokers as evaluated by ForexBrokers.com.
| Feature |
TMGM
|
Xtrade
|
|---|---|---|
| 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 |
| TipRanks | No | No |
| Signal Centre (Acuity Trading) | Yes | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When it comes to educational resources for beginners, TMGM and Xtrade each have their own strengths and weaknesses. TMGM does not provide a significant number of educational pieces focused on forex or CFDs, nor does it offer live monthly webinars. However, it features a searchable archive of previously recorded client webinars, providing some level of accessible learning. They also have an investor dictionary that includes definitions of over 50 investing terms, which can be a useful tool for new traders.
On the other hand, Xtrade offers more comprehensive education in the form of over 10 pieces focused on forex or CFDs, catering to beginners. Similar to TMGM, Xtrade does not provide live monthly webinars or a significant amount of beginner-focused video content. However, it also maintains an investor dictionary with over 50 investing terms. Both TMGM and Xtrade have the same education rating of 3.5 stars, but Xtrade holds a slightly better ranking in the education category according to ForexBrokers.com. As you explore educational resources, consider which platform’s offerings align best with your learning style and trading goals.
| Feature |
TMGM
|
Xtrade
|
|---|---|---|
| Education (Forex or CFDs) | No | Yes |
| Client Webinars | No | No |
| Client Webinars (Archived) | Yes | No |
| Videos - Beginner Trading Videos | No | No |
| Videos - Advanced Trading Videos | No | 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 TMGM is better than Xtrade. TMGM finished with an overall rank of #37, while Xtrade finished with an overall rank of #60.
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 – though the platform-specific requirements will limit who can use it.
| Feature |
TMGM
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Xtrade
|
|---|---|---|
| Overall Rating |
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| Trust Score | 83 | 74 |
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Both TMGM and Xtrade provide users with the opportunity to trade cryptocurrency derivatives, yet neither platform offers the capability to buy actual delivered cryptocurrencies.
In comparing the online brokers TMGM and Xtrade, neither platform supports ACH or SEPA transfers for account funding, but TMGM distinguishes itself by offering PayPal as a deposit and withdrawal option while Xtrade does not; both brokers provide options for Visa, Mastercard, Skrill, and bank wire transactions.
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 | TMGM | Xtrade | |
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| Trust Score | 83 | 74 | |
| Winner | check_circle | ||
| Review | TMGM Review | Xtrade Review |
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| Regulation | TMGM | Xtrade | |
|---|---|---|---|
| Trust Score | 83 | 74 | |
| Year Founded | 2013 | 2003 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | No | Yes | |
| Tier-1 Licenses | 2 | 1 | |
| Tier-2 Licenses | 0 | 1 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 2 | 1 |
| Tier-1 Licenses (Highly Trusted) | TMGM | Xtrade | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | No | |
| Canada (CIRO Authorised) | No | 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) | Yes | No | |
| Regulated in one or more EU or EEA countries (MiFID). | No | Yes |
| Tier-2 Licenses (Trusted) | TMGM | Xtrade | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | Yes | |
| UAE (DFSA/Central Bank Authorised) | No | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | TMGM | Xtrade | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 12000 | 482 | |
| 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 (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 | TMGM | Xtrade | |
|---|---|---|---|
| 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 | Yes | No | |
| Execution: Agency Broker | Yes | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | TMGM | Xtrade | |
|---|---|---|---|
| Minimum Deposit | $100 | $250 | |
| PayPal (Deposit/Withdraw) | Yes | No | |
| 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 | TMGM | Xtrade | |
|---|---|---|---|
| Proprietary Platform | No | Yes | |
| Desktop Platform (Windows) | Yes | No | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | No | |
| MetaTrader 4 (MT4) | Yes | No | |
| MetaTrader 5 (MT5) | Yes | No | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | TMGM | Xtrade | |
|---|---|---|---|
| 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 | 100 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | No |
| Mobile Trading | TMGM | Xtrade | |
|---|---|---|---|
| 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 | Yes | No | |
| Mobile Economic Calendar | Yes | No |
| Research | TMGM | Xtrade | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | No | No | |
| Trading Central (Recognia) | Yes | No | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | No | |
| Economic Calendar | Yes | Yes |
| Education | TMGM | Xtrade | |
|---|---|---|---|
| Education (Forex or CFDs) | No | Yes | |
| Client Webinars | No | 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 Pairs | TMGM | Xtrade | |
|---|---|---|---|
| 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 | Xtrade Review |
| Overall | TMGM | Xtrade | |
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| Trust Score | 83 | 74 | |
| Winner | check_circle | ||
| Review | TMGM Review | Xtrade Review |
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