Written by ForexBrokers.com
In this head to head comparison of TMGM vs Eightcap, 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.
When considering online trading platforms, both TMGM and Eightcap offer unique advantages. Founded in 2013, TMGM is a newer player compared to Eightcap, which started in 2009. Neither company is publicly traded or operates as a bank. In terms of regulatory standing, TMGM holds two Tier-1 licenses, reflecting a commitment to high trust standards. Eightcap, on the other hand, holds three Tier-1 licenses, slightly surpassing TMGM in this regard.
Trust Scores from ForexBrokers.com place TMGM with a rating of 83 and Eightcap with a rating of 85, indicating both are considered trusted brokers. With these scores, Eightcap sits slightly higher, though both brokers maintain a solid reputation for trustworthiness among users. While neither holds any Tier-2 licenses, their Tier-1 credentials provide confidence for traders seeking secure online trading experiences.
| Feature |
TMGM
|
Eightcap
|
|---|---|---|
| Year Founded | 2013 | 2009 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 2 | 3 |
| Tier-2 Licenses | 0 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 2 | 1 |
When comparing TMGM with Eightcap in terms of commissions and fees, TMGM provides a competitive edge through its Edge account. This account features low spreads and a commission of $3.50 per side, totaling $7 per round trip. While the Classic account option is available, it offers only spread-based trading costs, making the Edge account more favorable for those looking for tighter spreads. Unfortunately, average spread data for TMGM's EUR/USD pair is not accessible, which may hinder traders from evaluating comprehensive trading costs. For Islamic finance customers, the Edge account ensures compliance through its swap-free option.
Eightcap, on the other hand, presents two account selections: the commission-based Raw account and the spread-only Standard account. The Raw account shines with an industry-low average spread of 0.06 pips; however, the actual cost increases to roughly 0.76 pips when accounting for a $3.50 commission per side. Although Eightcap's fees remain competitive, they slightly exceed the industry's lowest forex broker prices. Eightcap supports its operation across multiple global entities, including those in Australia and the Bahamas, facilitating an expansive reach for traders.
Both brokers receive a commendable rating of 4 out of 5 stars for commissions and fees. In terms of their ranking among 62 brokers as per ForexBrokers.com, TMGM is placed at #35, while Eightcap holds a more favorable spot at #26, indicating a slight upper hand for Eightcap in this category.
| Feature |
TMGM
|
Eightcap
|
|---|---|---|
| Minimum Deposit | $100 | $100 |
| Average Spread EUR/USD - Standard | N/A | 1.0 |
| All-in Cost EUR/USD - Active | N/A | 0.76 |
| Active Trader or VIP Discounts | No | No |
| ACH or SEPA Transfers | No | No |
| PayPal (Deposit/Withdraw) | Yes | Yes |
| 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 the range of investments between TMGM and Eightcap, both brokers provide options for forex trading as CFDs. However, TMGM shines with a significantly larger list of tradeable symbols, offering an impressive 12,000 compared to Eightcap's 736. For those interested in forex pairs, TMGM also holds a slight advantage, presenting 62 pairs while Eightcap offers 56. Neither broker provides exchange traded securities on U.S. or international exchanges, meaning clients cannot purchase actual shares like Apple's or Vodafone's through these platforms. Both platforms support copy trading and offer cryptocurrency derivatives, although they do not offer the option to buy actual cryptocurrencies.
In terms of recognition and ratings, TMGM surpasses Eightcap with a 4.5-star rating for its range of investments versus Eightcap’s 3.5-star rating. As evaluated by ForexBrokers.com, TMGM is ranked 17th among 62 brokers in the category of range of investments, while Eightcap is positioned at 40th. This distinction highlights TMGM as the more versatile choice for investors looking for a broader selection of financial instruments to trade.
| Feature |
TMGM
|
Eightcap
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 12000 | 736 |
| 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 | 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.
When comparing trading platforms and tools, TMGM and Eightcap both offer a rich selection of features tailored to meet the needs of online traders. Both brokers provide access to popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms, ensuring traders benefit from a suite of technical analysis tools and customizable charting options. They also provide Windows-based desktop platforms and web-based alternatives, allowing flexibility in how traders engage with the market. Each broker offers the ability to trade directly from stock charts and supports copy trading functionality, enhancing the overall trading experience with strategic options.
Neither TMGM nor Eightcap develops proprietary platforms, but they do offer free virtual demo accounts that cater to learners and those testing strategies without financial risk. In terms of additional tools, both brokers supply an equal number of drawing tools (15) and columns for watchlists (7), enabling traders to personalize their views and streamline their trading process. While both brokers received a 4-star rating for their trading platforms and tools, Eightcap holds a slightly higher position in the ForexBrokers.com ranking at #38 compared to TMGM’s #48, which may guide your choice depending on personal preference and specific trading needs.
| Feature |
TMGM
|
Eightcap
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | No | No |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | Yes | Yes |
| MetaTrader 4 (MT4) | Yes | Yes |
| MetaTrader 5 (MT5) | Yes | Yes |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 30 | 30 |
| Charting - Drawing Tools (Total) | 15 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 7 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When comparing the mobile trading apps of TMGM and Eightcap, both platforms deliver a solid trading experience for users. They each offer iPhone and Android apps, ensuring accessibility on all major mobile devices. TMGM and Eightcap also provide essential features such as stock and forex price alerts, the ability to draw trendlines, and access to multiple time frames for charting, which helps traders stay informed and make timely decisions. Both apps also save chart drawings automatically, adding convenience for ongoing analysis.
While both brokers include 30 technical studies for their charting tools, Eightcap has an edge with its watchlist symbol syncing feature, which TMGM does not offer. This feature allows Eightcap users to seamlessly sync their watchlists between mobile and online platforms. Despite this difference, both platforms rate equally with four out of five stars for their mobile apps. However, Eightcap ranks slightly higher than TMGM in ForexBrokers.com's category for mobile trading apps, coming in at #38 compared to TMGM's #46 out of 62 brokers.
| Feature |
TMGM
|
Eightcap
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | No | Yes |
| Mobile Charting - Indicators / Studies | 30 | 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.
Both TMGM and Eightcap provide traders with daily market commentary, ensuring that users are consistently informed about the latest market happenings. While TMGM excels by offering forex news from top-tier sources like Bloomberg and Reuters, Eightcap does not provide such comprehensive coverage. For technical analysis tools, TMGM stands out with services from Trading Central, helping traders make informed decisions. On the other hand, both brokers lack tools from Autochartist, as well as market research from TipRanks. Additionally, TMGM enhances its offerings with tools from Acuity Trading, such as the Signal Centre, which Eightcap does not include in its research suite. However, both platforms do furnish users with a sentiment-based trading tool and an economic calendar, vital resources for anyone looking to navigate the financial markets effectively.
In terms of ratings, both TMGM and Eightcap score 3.5 stars out of five for their research services. However, Eightcap holds a slightly better position, being ranked #39 among 62 brokers by ForexBrokers.com in the Research category, compared to TMGM's #53 ranking. This distinction may influence traders looking for a broker with slightly higher-ranked research offerings, even though Eightcap lacks certain advanced resources present in TMGM's toolkit. Ultimately, the choice between these two brokers may depend on the specific research features a trader values most.
| Feature |
TMGM
|
Eightcap
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | No |
| Autochartist | No | No |
| Trading Central (Recognia) | Yes | No |
| Social Sentiment - Currency Pairs | Yes | Yes |
| TipRanks | No | No |
| Signal Centre (Acuity Trading) | Yes | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When comparing the educational resources available for beginners at TMGM and Eightcap, it's clear that both have strengths and areas to improve. TMGM lacks a comprehensive range of beginner-focused materials, offering fewer than 10 educational pieces on forex or CFDs and fewer than 10 beginner trading videos. In a positive light, TMGM provides a searchable archive of recorded webinars and a helpful investor dictionary with over 50 investing term definitions. However, live monthly educational webinars are not part of their offering, and they don’t provide a significant selection of videos for advanced traders.
On the other hand, Eightcap offers a variety of educational resources for those new to trading, including at least 10 educational pieces and beginner trading videos surpassing what TMGM provides. Like TMGM, Eightcap also maintains a searchable archive of previously recorded webinars and an investor dictionary with more than 50 financial terms. While Eightcap doesn’t offer monthly live educational webinars or a wealth of advanced trading videos, their dedication to beginner education is reflected in their higher ForexBrokers.com education ranking of #40 compared to TMGM's #54. Despite these differences, both brokers received a similar overall rating of 3.5 stars for education.
| Feature |
TMGM
|
Eightcap
|
|---|---|---|
| Education (Forex or CFDs) | No | Yes |
| Client Webinars | No | No |
| Client Webinars (Archived) | Yes | Yes |
| Videos - Beginner Trading Videos | No | Yes |
| Videos - Advanced Trading Videos | No | 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 TMGM is better than Eightcap. TMGM finished with an overall rank of #37, while Eightcap finished with an overall rank of #38.
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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Eightcap
|
|---|---|---|
| Overall Rating |
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| Trust Score | 83 | 85 |
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Both TMGM and Eightcap do not provide options for purchasing actual cryptocurrencies but offer the ability to buy cryptocurrency derivatives instead.
Both TMGM and Eightcap do not support ACH or SEPA transfers for deposits or withdrawals, but they both provide a range of other options including PayPal, Skrill, Visa, Mastercard, and bank wires.
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 | Eightcap | |
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| Trust Score | 83 | 85 | |
| Winner | check_circle | ||
| Review | TMGM Review | Eightcap Review |
| Broker Screenshots | TMGM | Eightcap | |
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| Regulation | TMGM | Eightcap | |
|---|---|---|---|
| Trust Score | 83 | 85 | |
| Year Founded | 2013 | 2009 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | No | Yes | |
| Tier-1 Licenses | 2 | 3 | |
| Tier-2 Licenses | 0 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 2 | 1 |
| Tier-1 Licenses (Highly Trusted) | TMGM | Eightcap | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | Yes | |
| 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 | Yes | |
| 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 | Eightcap | |
|---|---|---|---|
| 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 | TMGM | Eightcap | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 12000 | 736 | |
| 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 | 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 | TMGM | Eightcap | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | N/A | 1.0 | |
| All-in Cost EUR/USD - Active | N/A | 0.76 | |
| Active Trader or VIP Discounts | No | No | |
| Inactivity Fee | Yes | No | |
| Execution: Agency Broker | Yes | Yes | |
| Execution: Market Maker | Yes | Yes |
| Funding | TMGM | Eightcap | |
|---|---|---|---|
| Minimum Deposit | $100 | $100 | |
| PayPal (Deposit/Withdraw) | Yes | Yes | |
| 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 | Eightcap | |
|---|---|---|---|
| Proprietary Platform | No | No | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | Yes | |
| MetaTrader 4 (MT4) | Yes | Yes | |
| MetaTrader 5 (MT5) | Yes | Yes | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | TMGM | Eightcap | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 7 | 7 | |
| Charting - Indicators / Studies (Total) | 30 | 30 | |
| Charting - Drawing Tools (Total) | 15 | 15 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | TMGM | Eightcap | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | No | Yes | |
| Mobile Charting - Indicators / Studies | 30 | 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 | TMGM | Eightcap | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | No | |
| Autochartist | No | No | |
| Trading Central (Recognia) | Yes | No | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | TMGM | Eightcap | |
|---|---|---|---|
| Education (Forex or CFDs) | No | Yes | |
| Client Webinars | No | No | |
| Client Webinars (Archived) | Yes | Yes | |
| Videos - Beginner Trading Videos | No | Yes | |
| Videos - Advanced Trading Videos | No | No | |
| Investor Dictionary (Glossary) | Yes | Yes |
| Major Forex Pairs | TMGM | Eightcap | |
|---|---|---|---|
| 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 | Eightcap Review |
| Overall | TMGM | Eightcap | |
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| Trust Score | 83 | 85 | |
| Winner | check_circle | ||
| Review | TMGM Review | Eightcap Review |
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