Written by ForexBrokers.com
In this head to head comparison of eToro 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.
eToro and TMGM are two popular online brokers, each offering unique features to their users. Founded in 2007, eToro is a pioneering platform recognized for its innovative approach. Although not listed on any stock exchange and not a bank, eToro holds an impressive Trust Score of 93 from ForexBrokers.com, indicating high trust. This is bolstered by its possession of 3 Tier-1 licenses and 1 Tier-2 license, ensuring regulatory compliance and stability in the global market.
In comparison, TMGM, founded in 2013, is also a non-bank and non-publicly traded broker. TMGM is trusted within the industry with a ForexBrokers.com Trust Score of 83. It holds 2 Tier-1 licenses, reflecting solid trustworthiness, but lacks Tier-2 licenses compared to eToro. Both platforms provide reliable services, though eToro’s higher trust rating and larger number of regulatory credentials may appeal to those prioritizing safety in trade executions.
| Feature |
eToro
|
TMGM
|
|---|---|---|
| Year Founded | 2007 | 2013 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 3 | 2 |
| Tier-2 Licenses | 1 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 2 |
When comparing eToro and TMGM in terms of commissions and fees, eToro stands out for its unique social copy trading capabilities. As a market-maker broker, eToro lists a typical variable spread of 1 pip on the EUR/USD, which is slightly above the industry average. While not specifically chosen for its spreads, eToro compensates with a range of perks through its VIP eToro Club, which has five tiers of membership offering benefits like access to Trading Central and discounted fees. Overall, eToro receives a 4.5-star rating and ranks #22 out of 62 brokers by ForexBrokers.com in the Commissions and Fees category.
TMGM, on the other hand, offers competitive commission rates, particularly for its Edge account. Traders opting for the Edge account benefit from low spreads and no requotes, though recent average spread data for the EUR/USD is not readily available. Depending on the account type, whether it's the spread-only Classic account or the commission-based Edge account, trading costs vary. The Edge account is favored for its small commission charge of $3.50 per side. TMGM also caters to Islamic finance customers with swap-free Edge accounts. TMGM holds a 4-star rating and is ranked #35 out of 62 brokers for commissions and fees by ForexBrokers.com.
| Feature |
eToro
|
TMGM
|
|---|---|---|
| Minimum Deposit | $50-$10,000 | $100 |
| Average Spread EUR/USD - Standard | 1 | N/A |
| All-in Cost EUR/USD - Active | N/A | N/A |
| Active Trader or VIP Discounts | Yes | No |
| ACH or SEPA Transfers | Yes | 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 eToro and TMGM for their range of investments, both platforms offer various ways to engage in forex trading, supporting CFDs or spot contracts. eToro presents users with a wide array of 5,461 tradeable symbols, including 55 forex pairs, allowing investors to delve into a diverse set of opportunities. One of eToro's standout features is its ability to provide direct trading of exchange-traded securities on both U.S. and international exchanges, enabling clients to invest in popular stocks like Apple and Vodafone. Additionally, eToro supports buying both actual cryptocurrencies and cryptocurrency derivatives, as well as copy trading, catering to a broad spectrum of investment strategies.
TMGM, on the other hand, boasts an impressive 12,000 tradeable symbols, with 62 forex pairs available for those focused on forex trading. While it doesn't offer direct trading of U.S. or international exchange-traded securities, TMGM does support cryptocurrency derivatives, similar to eToro, and also offers copy trading, ensuring options for investors who appreciate social trading features. Despite its slightly lesser range of investment ratings at 4.5 stars, compared to eToro's 5 stars, TMGM remains a formidable choice with its extensive range of symbols. Rankings by ForexBrokers.com place eToro at #10 and TMGM at #17 out of 62 brokers for their range of investments, reflecting the slight edge eToro has in this category.
| Feature |
eToro
|
TMGM
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 5461 | 12000 |
| Forex Pairs (Total) | 55 | 62 |
| U.S. Stock Trading (Non CFD) | Yes | No |
| Int'l Stock Trading (Non CFD) | Yes | No |
| Social Trading / Copy Trading | Yes | Yes |
| Cryptocurrency (Physical) | Yes | 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 the trading platforms and tools of eToro and TMGM, both brokers offer simulated trading with free virtual demo accounts, providing a great way for beginners to practice without risk. eToro stands out with its proprietary platform, developed in-house, which supports web-based trading and acclaimed copy trading features. However, eToro does not support Windows-based desktop platforms or popular trading software like MetaTrader 4 and 5. On the other hand, TMGM caters to advanced traders with its compatibility with MetaTrader 4 and 5, offering a Windows-based desktop platform. Like eToro, TMGM also provides a web-based platform and copy trading functionality. However, both brokers lack access to DupliTrade and ZuluTrade for automated trading.
In terms of charting tools, eToro pulls ahead with 161 drawing tools versus TMGM's 15, although TMGM enables direct trading from stock charts, which eToro does not. Watch lists on eToro include six columns, while TMGM offers seven. For those seeking highly-rated platforms, eToro earns 4.5 stars and is ranked #8 among 62 brokers by ForexBrokers.com, whereas TMGM receives a 4-star rating and ranks at #48. Each broker presents unique strengths, allowing traders to select one that best matches their personal trading needs and platform preferences.
| Feature |
eToro
|
TMGM
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | No |
| Desktop Platform (Windows) | No | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | Yes | Yes |
| MetaTrader 4 (MT4) | No | Yes |
| MetaTrader 5 (MT5) | No | Yes |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 104 | 30 |
| Charting - Drawing Tools (Total) | 161 | 15 |
| Charting - Trade From Chart | No | Yes |
| Watchlists - Total Fields | 6 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When choosing between the mobile trading apps of eToro and TMGM, there are several factors to consider. Both platforms provide apps for iPhone and Android, allowing traders to stay connected regardless of their device. Each app also offers stock and forex price alerts, as well as the ability to create watchlists with real-time quotes. However, eToro extends its functionality with a feature allowing users to sync watchlist symbols across devices, offering a seamless experience for those who trade on both mobile and web platforms. In terms of charting, eToro excels with 104 technical studies compared to TMGM's 30, giving traders a broader range of analysis options. While eToro does not support drawing trendlines or auto-saving drawings, TMGM does, catering to users who require these specific functionalities. Both platforms provide the capability to view multiple time frames on charts, like daily or weekly views, which can be essential for diverse trading strategies.
Looking at overall ratings, eToro's app is rated at 4.5 stars compared to TMGM's 4 stars. This high rating is echoed by eToro’s #11 ranking out of 62 brokers in the Mobile Trading Apps category according to ForexBrokers.com, whereas TMGM stands at #46. The differentiation comes down to personal preference regarding app features like charting capabilities and device syncing, which may sway a trader towards one platform over the other. Ultimately, both eToro and TMGM provide effective mobile solutions for those looking to manage their investments on the go but cater to slightly different priorities and approaches within their user bases.
| Feature |
eToro
|
TMGM
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 104 | 30 |
| Mobile Charting - Draw Trendlines | No | Yes |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | No | Yes |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
Both eToro and TMGM offer daily market commentary and comprehensive trading tools like sentiment-based trading indicators and economic calendars. Additionally, they both provide technical analysis resources from Trading Central. However, when it comes to forex news from top-tier sources like Bloomberg or Reuters, TMGM has the upper hand, while eToro falls short in this area. Moreover, eToro leverages research insights from TipRanks, a feature that TMGM lacks. Conversely, TMGM stands out with tools from Acuity Trading, which eToro doesn't offer.
In terms of overall research ratings and rankings, eToro is ahead of TMGM, boasting a research rating of 4.5 stars and a rank of 13th out of 62 brokers, according to ForexBrokers.com. TMGM, meanwhile, is rated at 3.5 stars and is positioned at 53rd place. These metrics highlight eToro's stronger presence in the market research domain, despite some limitations compared to TMGM's offerings. The choice between these brokers may hinge on the specific research tools and news sources that matter most to the trader.
| Feature |
eToro
|
TMGM
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | No | Yes |
| Autochartist | No | No |
| Trading Central (Recognia) | Yes | Yes |
| Social Sentiment - Currency Pairs | Yes | Yes |
| TipRanks | Yes | No |
| Signal Centre (Acuity Trading) | No | Yes |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When it comes to educational resources for beginners, eToro outshines TMGM with a wide range of offerings. eToro provides a comprehensive educational package, delivering more than 10 educational pieces focused on forex and CFDs, supplemented by monthly webinars that clients can attend online. In addition to live sessions, eToro maintains an easily searchable archive of previously recorded webinars. Beginners can also access at least 10 video tutorials tailored specifically to new traders, along with advanced materials for experienced traders. An extensive investor dictionary with over 50 terms is also part of eToro's educational suite, giving it a strong education rating of 4.5 stars and ranking it #5 out of 62 brokers on ForexBrokers.com.
Meanwhile, TMGM provides fewer educational resources in comparison. The broker does not meet the minimum threshold of 10 educational pieces focused solely on forex or CFDs and does not offer regular monthly webinars to clients. However, TMGM does offer a searchable archive of past webinars and an investor dictionary comparable to eToro's. Unfortunately, TMGM has fewer beginner-specific educational videos available, leaving its platform less suitable for those just starting. With these limitations, TMGM receives a lower education rating of 3.5 stars and ranks significantly lower at #54 among 62 brokers as per ForexBrokers.com.
| Feature |
eToro
|
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 eToro is better than TMGM. eToro finished with an overall rank of #9, while TMGM finished with an overall rank of #37.
eToro is a winner for its easy-to-use copy-trading platform, where traders can copy the trades of experienced investors – or receive exclusive perks for sharing their own trading strategies.
| Feature |
eToro
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TMGM
|
|---|---|---|
| Overall Rating |
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| Trust Score | 93 | 83 |
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eToro allows users to purchase actual cryptocurrencies and engage in cryptocurrency derivatives, while TMGM focuses solely on offering cryptocurrency derivative trading without the option to buy actual cryptocurrencies.
eToro provides more versatility with both ACH and SEPA transfers available for deposits and withdrawals, unlike TMGM, which does not offer these options; however, both platforms support a variety of other payment methods, including PayPal, Skrill, Visa or 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 | eToro | TMGM | |
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| Trust Score | 93 | 83 | |
| Winner | check_circle | ||
| Review | eToro Review | TMGM Review |
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| Regulation | eToro | TMGM | |
|---|---|---|---|
| Trust Score | 93 | 83 | |
| Year Founded | 2007 | 2013 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | No | |
| Tier-1 Licenses | 3 | 2 | |
| Tier-2 Licenses | 1 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 2 |
| Tier-1 Licenses (Highly Trusted) | eToro | TMGM | |
|---|---|---|---|
| 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) | 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) | eToro | 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 | eToro | TMGM | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 5461 | 12000 | |
| Forex Pairs (Total) | 55 | 62 | |
| U.S. Stock Trading (Non CFD) | Yes | No | |
| Int'l Stock Trading (Non CFD) | Yes | No | |
| Social Trading / Copy Trading | Yes | Yes | |
| Cryptocurrency (Physical) | Yes | 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 | eToro | TMGM | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1 | N/A | |
| All-in Cost EUR/USD - Active | N/A | N/A | |
| Active Trader or VIP Discounts | Yes | No | |
| Inactivity Fee | Yes | Yes | |
| Execution: Agency Broker | Yes | Yes | |
| Execution: Market Maker | Yes | Yes |
| Funding | eToro | TMGM | |
|---|---|---|---|
| Minimum Deposit | $50-$10,000 | $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 | Yes | No |
| Trading Platforms | eToro | TMGM | |
|---|---|---|---|
| Proprietary Platform | Yes | No | |
| Desktop Platform (Windows) | No | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | Yes | |
| MetaTrader 4 (MT4) | No | Yes | |
| MetaTrader 5 (MT5) | No | Yes | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | eToro | TMGM | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 6 | 7 | |
| Charting - Indicators / Studies (Total) | 104 | 30 | |
| Charting - Drawing Tools (Total) | 161 | 15 | |
| Charting - Trade From Chart | No | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | eToro | 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 | 104 | 30 | |
| Mobile Charting - Draw Trendlines | No | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | No | Yes | |
| Mobile Economic Calendar | No | Yes |
| Research | eToro | TMGM | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | No | Yes | |
| Autochartist | No | No | |
| Trading Central (Recognia) | Yes | Yes | |
| TipRanks | Yes | No | |
| Social Sentiment - Currency Pairs | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | eToro | 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 | eToro | 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 | eToro Review | TMGM Review |
| Overall | eToro | TMGM | |
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| Trust Score | 93 | 83 | |
| Winner | check_circle | ||
| Review | eToro Review | TMGM Review |
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