Written by ForexBrokers.com
In this head to head comparison of City Index 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.
City Index, established in 1983, is an online broker that stands out for being publicly traded. It holds an impressive seven Tier-1 licenses, making it highly trusted by industry standards as evidenced by its top-tier Trust Score rating of 99 from ForexBrokers.com. Although not a bank, its longstanding presence and regulatory backing place it in a strong position for those seeking a reliable trading platform.
Founded in 2013, TMGM is also a non-bank online broker but is not publicly traded. It holds two Tier-1 licenses, which align with a Trust Score of 83, deemed trustworthy by ForexBrokers.com but not in the top category like City Index. With no Tier-2 licenses, TMGM may appeal to traders looking for a trusted platform, though it doesn’t have the same level of regulatory credentials as City Index.
| Feature |
City Index
|
TMGM
|
|---|---|---|
| Year Founded | 1983 | 2013 |
| Publicly Traded (Listed) | Yes | No |
| Bank | No | No |
| Tier-1 Licenses | 7 | 2 |
| Tier-2 Licenses | 1 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 2 |
City Index offers trading fees that align with the industry average, particularly for CFDs, forex, and spread-betting products. Traders seeking optimal pricing should consider using City Index’s proprietary platforms or MetaTrader. With a Premium Trader account, active traders who deposit over £10,000 can enjoy exclusive pricing perks, events, and dedicated support. In terms of costs, City Index maintains an average spread of 0.74 pips on the EUR/USD as of July 2023, which aligns with competitors, although it's not as competitive as top-tier brokers like Tickmill and FP Markets. For supplemental savings, active trader rebates are available: U.K.-based professionals can earn between £4 to £7.5 per million, while those in Australia receive rebates ranging from AUD $4.5 to $14.5 per million.
TMGM presents enticing commission rates with its Edge account, which features low spreads and consistent trade execution without requotes. Notably, the precise average spread data for the EUR/USD wasn't disclosed. This omission is worth considering, as accessing this data can provide more transparency regarding overall trading expenses. TMGM offers two account types: the spread-only Classic account and the commission-based Edge account. The Edge account is attractive due to its small commission fee of $3.50 per side ($7 per round trip) alongside low spreads, making it the preferable choice for many traders. Additionally, those requiring Sharia-compliant accounts must opt for the Edge account, as the Classic account does not offer swap-free options.
For commissions and fees, City Index garners an impressive 4.5 star rating, securing the #14 spot out of 62 brokers as listed by ForexBrokers.com. In comparison, TMGM holds a 4-star rating and ranks #36 in the same category. This differential highlights City Index's competitive edge in providing beneficial pricing structures and rebates for a broad spectrum of traders, particularly in comparison to TMGM.
| Feature |
City Index
|
TMGM
|
|---|---|---|
| Minimum Deposit | £100.00 | $100 |
| Average Spread EUR/USD - Standard | 1.4 | N/A |
| All-in Cost EUR/USD - Active | 0.74 | N/A |
| Active Trader or VIP Discounts | Yes | No |
| ACH or SEPA Transfers | Yes | No |
| PayPal (Deposit/Withdraw) | Yes | 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.
When comparing the investment offerings of City Index and TMGM, both brokers provide forex trading, making them competitive options for investors interested in currency markets. City Index presents an impressive lineup with 13,500 tradeable symbols and a selection of 66 forex pairs, while TMGM offers 12,000 tradeable symbols alongside 62 forex pairs. Neither broker supports the buying of exchange traded securities on U.S. or international exchanges, meaning clients cannot purchase shares like Apple or Vodafone directly through their platforms. Copy trading and cryptocurrency derivatives trading are available with both brokers, though neither offers the option to purchase actual cryptocurrencies.
City Index and TMGM are rated highly in terms of investment range, with City Index boasting a 5-star rating and TMGM slightly behind with 4.5 stars. This difference is reflected in their rankings by ForexBrokers.com, where City Index sits at #8 while TMGM takes the #17 spot among 62 brokers. Even with these disparities, both platforms maintain a strong presence in the market for traders seeking comprehensive investment opportunities.
| Feature |
City Index
|
TMGM
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 13500 | 12000 |
| Forex Pairs (Total) | 66 | 62 |
| U.S. Stock Trading (Non CFD) | No | No |
| Int'l Stock Trading (Non CFD) | No | No |
| Social Trading / Copy Trading | Yes | 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). | 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.
City Index and TMGM both offer traders a range of platforms and tools to navigate the financial markets, each with its own strengths. City Index stands out with its proprietary platform, developed in-house, which provides an integrated experience alongside popular platforms like MetaTrader 4 (MT4). TMGM complements its MT4 offering with the advanced MetaTrader 5 (MT5), providing traders with more choices for executing trades. Both brokers cater to beginners and experienced traders with free virtual demo accounts for practicing strategies without risk.
When it comes to trading convenience, both brokers let users trade directly from stock charts, and they each support web-based and Windows desktop platforms. City Index, however, offers 239 charting drawing tools compared to TMGM's 15, and also provides more customization for watch lists with 11 columns versus TMGM's 7. These differences contribute to City Index's higher rating of 4.5 stars for its trading platforms and tools, ranking #10 out of 62 brokers, compared to TMGM's 4-star rating and a rank of #48. Overall, both brokers provide competent trading environments, but City Index shines with a broader range of tools and higher user ratings.
| Feature |
City Index
|
TMGM
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | No |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | Yes | Yes |
| MetaTrader 4 (MT4) | Yes | Yes |
| MetaTrader 5 (MT5) | No | Yes |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 88 | 30 |
| Charting - Drawing Tools (Total) | 239 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 11 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When it comes to mobile trading apps, both City Index and TMGM offer solutions for iPhone and Android users, including essential features like price alerts and the ability to draw trendlines on charts. However, City Index pulls ahead with more advanced capabilities. It boasts 88 technical studies for charting, compared to TMGM's 30, and offers seamless watchlist syncing across devices, ensuring that any changes made either on mobile or desktop synchronize automatically. Additionally, City Index users can take advantage of multiple time frames and enjoy the convenience of auto-saved drawings on their charts.
Real-time quote watchlists are available on both platforms, but City Index has a slight edge with a user rating of 4.5 stars for its mobile app, while TMGM holds a 4-star rating. City Index is also ranked higher by ForexBrokers.com, securing the 9th spot among 62 brokers, whereas TMGM sits at 47th place. This comparison highlights City Index's superiority in mobile trading app features and user satisfaction, making it a preferable choice for many traders on the go.
| Feature |
City Index
|
TMGM
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 88 | 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 City Index and TMGM for their market research offerings, both brokers provide daily market commentary and forex news sourced from reputable outlets like Bloomberg and Reuters. They also offer vital trading tools from Trading Central, offering users valuable technical analysis insights. Both platforms feature sentiment-based trading tools and economic calendars to aid trading decisions, but City Index takes the lead with its ranking and customer ratings. While both lack tools from Autochartist and market research from TipRanks, TMGM distinguishes itself with exclusive access to Acuity Trading's research offerings.
In terms of overall research ratings, City Index outshines TMGM with a commendable 4.5-star rating and a top-10 ranking among 62 brokers assessed by ForexBrokers.com. TMGM, on the other hand, holds a 3.5-star rating and ranks 53 out of the same group. These factors suggest that while both brokers offer solid research tools, City Index provides a more polished and comprehensive research experience for traders seeking in-depth market insights.
| Feature |
City Index
|
TMGM
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | 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.
City Index and TMGM both cater to traders, but beginners seeking educational resources will find distinct differences in what each offers. City Index excels in providing a comprehensive suite of educational materials, with more than 10 pieces dedicated to forex and CFDs, including articles, videos, and archived webinars. Additionally, they host monthly online webinars, allowing interactive learning opportunities, and maintain a searchable archive of recorded sessions. For newcomers, City Index offers over 10 beginner-centric videos, making it an excellent starting point for those new to trading. Advanced traders aren't left out either, with a library exceeding 10 videos aimed at more experienced individuals. City Index also presents an extensive investor dictionary, ensuring definitions of over 50 investing terms are readily available. As a result, City Index earns an impressive 4.5-star rating for education, placing them 9th out of 62 brokers, as ranked by ForexBrokers.com.
In comparison, TMGM has a more limited educational offering. While they do provide a searchable archive of recorded webinars and an investor dictionary similar to City Index, they fall short in other areas. TMGM does not offer the minimum 10 educational pieces on forex or CFDs nor do they conduct regular monthly webinars. Additionally, their content for both beginner and advanced traders is limited, with fewer than 10 educational videos available for each group. Consequently, TMGM receives a 3.5-star education rating, positioning them at 54th out of 62 brokers in the ForexBrokers.com rankings. For beginners keen on accessing a wide range of educational resources, City Index stands out as the more comprehensive choice.
| Feature |
City Index
|
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) | Yes | Yes |
Dive deeper: Best Forex Brokers for Beginners.
After testing 62 of the best forex brokers, our research and account testing finds that City Index is better than TMGM. City Index finished with an overall rank of #8, while TMGM finished with an overall rank of #37.
Backed by StoneX Group, City Index is a trusted brand known for its versatile trading platforms, excellent mobile app, diverse market research, and extensive range of tradeable markets.
| Feature |
City Index
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TMGM
|
|---|---|---|
| Overall Rating |
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| Trust Score | 99 | 83 |
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Both City Index and TMGM do not provide the option to buy actual (delivered) cryptocurrency, but they both enable users to trade cryptocurrency derivatives.
When comparing online brokers City Index and TMGM in terms of deposit and withdrawal options, City Index supports ACH and SEPA transfers, PayPal, Visa or Mastercard, and bank wires, whereas TMGM offers PayPal, Skrill, Visa or Mastercard, and bank wires but does not support ACH or SEPA transfers.
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 | City Index | TMGM | |
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| Trust Score | 99 | 83 | |
| Winner | check_circle | ||
| Review | City Index Review | TMGM Review |
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| Regulation | City Index | TMGM | |
|---|---|---|---|
| Trust Score | 99 | 83 | |
| Year Founded | 1983 | 2013 | |
| Publicly Traded (Listed) | Yes | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | No | |
| Tier-1 Licenses | 7 | 2 | |
| Tier-2 Licenses | 1 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 2 |
| Tier-1 Licenses (Highly Trusted) | City Index | TMGM | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | Yes | |
| Canada (CIRO Authorised) | Yes | No | |
| Hong Kong (SFC Authorised) | No | No | |
| Japan (SFC Authorised) | No | 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) | No | Yes | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | No |
| Tier-2 Licenses (Trusted) | City Index | TMGM | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA/Central Bank Authorised) | Yes | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | City Index | TMGM | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 13500 | 12000 | |
| Forex Pairs (Total) | 66 | 62 | |
| U.S. Stock Trading (Non CFD) | No | No | |
| Int'l Stock Trading (Non CFD) | No | No | |
| Social Trading / Copy Trading | Yes | 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). | 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 | City Index | TMGM | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.4 | N/A | |
| All-in Cost EUR/USD - Active | 0.74 | N/A | |
| Active Trader or VIP Discounts | Yes | No | |
| Inactivity Fee | Yes | Yes | |
| Execution: Agency Broker | No | Yes | |
| Execution: Market Maker | Yes | Yes |
| Funding | City Index | TMGM | |
|---|---|---|---|
| Minimum Deposit | £100.00 | $100 | |
| PayPal (Deposit/Withdraw) | Yes | Yes | |
| Skrill (Deposit/Withdraw) | No | Yes | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | Yes | No |
| Trading Platforms | City Index | TMGM | |
|---|---|---|---|
| Proprietary Platform | Yes | No | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | Yes | |
| MetaTrader 4 (MT4) | Yes | Yes | |
| MetaTrader 5 (MT5) | No | Yes | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | City Index | TMGM | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 11 | 7 | |
| Charting - Indicators / Studies (Total) | 88 | 30 | |
| Charting - Drawing Tools (Total) | 239 | 15 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | City Index | 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 | 88 | 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 | City Index | TMGM | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | No | No | |
| Trading Central (Recognia) | Yes | Yes | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | City Index | 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) | Yes | Yes |
| Major Forex Pairs | City Index | 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 | City Index Review | TMGM Review |
| Overall | City Index | TMGM | |
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| Trust Score | 99 | 83 | |
| Winner | check_circle | ||
| Review | City Index Review | TMGM Review |
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