Written by ForexBrokers.com
In this head to head comparison of TMGM vs iFOREX, 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.
TMGM and iFOREX are both established online brokers, with TMGM founded in 2013 and iFOREX in 1996. Neither company is publicly listed on a stock exchange, nor are they banks, which means they operate strictly within their brokerage capacities. When it comes to regulatory standing, TMGM holds two Tier-1 licenses, signaling a higher level of credibility, compared to iFOREX, which holds one Tier-1 license. This distinction in licensing can be a vital factor for traders prioritizing regulatory oversight.
In terms of trust scores as assessed by ForexBrokers.com, TMGM receives a score of 83 out of 99, placing it in the 'trusted' category, whereas iFOREX scores 75, indicating an 'average risk' level. These scores reflect how the brokers are perceived in terms of reliability and customer security. The differences in their trust scores and regulatory licenses could influence a trader's choice, aligned with their preferences for safety and oversight.
| Feature |
TMGM
|
iFOREX
|
|---|---|---|
| Year Founded | 2013 | 1996 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 2 | 1 |
| Tier-2 Licenses | 0 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 2 | 1 |
When comparing TMGM and iFOREX on their commissions and fees, TMGM emerges as a more favorable option for many traders. TMGM offers two account types: the spread-only Classic account and the commission-based Edge account. The Edge account stands out for its low costs, charging a commission of $3.50 per side ($7 per round trip) alongside narrow spreads. However, TMGM does not publish average spread data for the EUR/USD, which can be a disadvantage for traders seeking detailed cost assessments. TMGM holds a star rating of 4 out of 5 for commissions and fees and is ranked 36th out of 62 brokers on ForexBrokers.com in this category.
iFOREX, in comparison, lacks detailed transparency regarding its average spread data, which makes it challenging for traders to fully evaluate trading costs. This limitation might make it harder for potential clients to understand the fee structure and compare it effectively with other brokers. iFOREX has a lower star rating of 3 out of 5 for its commissions and fees, and it is ranked 60th out of 62 brokers by ForexBrokers.com.
In summary, TMGM appears to offer a more competitive fee structure, especially with its Edge account, which may appeal to traders looking for cost-effective trading options. While neither broker provides complete spread data for detailed cost assessment, TMGM ranks higher in both ratings and broker rankings, indicating better overall appeal in the realm of commissions and fees.
| Feature |
TMGM
|
iFOREX
|
|---|---|---|
| Minimum Deposit | $100 | $100 |
| 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 | 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.
TMGM and iFOREX both provide forex trading as a CFD, giving investors access to this popular market without owning the underlying assets. In terms of tradeable symbols, TMGM offers a remarkably wide selection with 12,000 options, far surpassing iFOREX's 750. However, when narrowing down to forex pairs, iFOREX takes the lead with 88 options, slightly more than TMGM's 62 pairs. Neither platform provides access to trading physical securities on U.S. or international exchanges, meaning traditional stock investors might look elsewhere if they're interested in owning shares like Apple or Vodafone.
When it comes to cryptocurrencies, both TMGM and iFOREX offer cryptocurrency derivatives rather than actual assets. A notable distinction between the two is TMGM's inclusion of copy trading, a feature absent in iFOREX, allowing users to easily replicate successful trades from experienced investors. TMGM's broader range of investments earns it a 4.5-star rating and a competitive 17th place ranking among brokers, compared to iFOREX's 3.5-star rating and 41st place ranking. This highlights TMGM's diverse offerings and stronger standing in the investment space.
| Feature |
TMGM
|
iFOREX
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 12000 | 750 |
| Forex Pairs (Total) | 62 | 88 |
| 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 the trading platforms and tools offered by TMGM and iFOREX, several differences become apparent. TMGM provides a comprehensive suite of trading tools including MetaTrader 4 and MetaTrader 5, which are popular platforms among traders for their advanced charting and automation features. Importantly, TMGM supports simulated trading with a free virtual demo account, allowing users to practice without financial risk. Additionally, clients can access a Windows-based desktop platform and a web-based trading solution, offering flexibility for different user preferences. For traders interested in social trading, TMGM stands out for offering copy trading features. TMGM is highly rated, earning 4 out of 5 stars for its trading platforms and tools.
In contrast, iFOREX offers a different set of features centered around its proprietary platform, indicating a more tailored trading experience. While iFOREX does not provide a demo account for simulated trading, it does offer a web-based platform. The platform includes user-friendly tools such as the ability to trade directly from stock charts, with 25 drawing tools available for detailed market analysis. The platform's watch lists can feature up to 9 fields, offering robust tracking options. Despite not supporting copy trading or popular platforms like MetaTrader, iFOREX also receives a 4-star rating for its trading platforms. However, in ForexBrokers.com rankings for trading platforms and tools, TMGM is positioned slightly higher at 48th out of 62 brokers, compared to iFOREX's 54th place.
| Feature |
TMGM
|
iFOREX
|
|---|---|---|
| Virtual Trading (Demo) | Yes | No |
| 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 | 57 |
| Charting - Drawing Tools (Total) | 15 | 25 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 7 | 9 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Both TMGM and iFOREX provide apps for iPhone and Android, catering to a wide range of users. However, TMGM's app outshines iFOREX in several areas, such as offering price alerts for stocks and forex, with iFOREX missing out on this feature. TMGM also provides a richer charting experience with 30 technical studies compared to the absence of such data in iFOREX's mobile app. Features like trendline drawing and viewing multiple timeframes on charts are available in TMGM's app, but not in iFOREX's app. Additionally, TMGM allows users to create watchlists with real-time quotes, a feature not found in iFOREX's offerings.
Despite these differences, both TMGM and iFOREX score four out of five stars for their mobile trading apps. However, TMGM ranks higher at #47 compared to iFOREX's #55 in a review by ForexBrokers.com. It's worth noting that neither platform offers watchlist symbol syncing between mobile and online accounts. For those who prefer trading on the go, TMGM offers more advanced functionalities, making it a more compelling choice for traders seeking comprehensive mobile features.
| Feature |
TMGM
|
iFOREX
|
|---|---|---|
| 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.
TMGM and iFOREX both feature daily market commentary to keep traders informed, as well as sentiment-based trading tools that display the ratio of long or short positions across currency pairs. However, TMGM has the edge when it comes to providing forex news from top-tier sources like Bloomberg and Reuters, a service that iFOREX does not offer. When it comes to tools from Trading Central, both brokers are on an equal footing, offering comprehensive technical analytics. Although neither broker offers tools from Autochartist, TMGM provides supplementary insights with tools from Acuity Trading's Signal Centre, a feature not available with iFOREX.
Both TMGM and iFOREX present an economic calendar to track global news events across different economies. Despite sharing a research rating of 3.5 stars out of five, iFOREX ranks slightly higher in the research category at #48 among 62 brokers on ForexBrokers.com, while TMGM is positioned at #53. This might make iFOREX marginally more attractive for traders prioritizing research rankings, yet TMGM's offering of additional resources from high-profile news agencies and Acuity Trading could appeal to those who value more comprehensive market insights.
| Feature |
TMGM
|
iFOREX
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | No |
| Autochartist | No | No |
| Trading Central (Recognia) | Yes | Yes |
| 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 offerings for beginners between TMGM and iFOREX, both platforms have their individual strengths and weaknesses. TMGM stands out with a searchable archive of previously recorded client webinars, which can be a valuable learning tool for those who prefer to access information at their own convenience. Additionally, TMGM provides a comprehensive investor dictionary featuring definitions of more than 50 investing terms, helping beginners familiarize themselves with key concepts. However, TMGM lacks ample beginner educational videos and does not offer regular live webinars or extensive educational articles on forex or CFDs. This impacts their ranking, placing them at #54 in the Education category according to ForexBrokers.com.
On the other hand, iFOREX presents a different advantage with more than 10 beginner educational videos dedicated to introducing trading topics, which can be particularly helpful for novices starting their investment journey. Yet, iFOREX does not offer a searchable archive of past webinars or an investor dictionary, and their selection of educational articles on forex or CFDs is limited. While both brokers have received identical ratings of 3.5 stars for education, iFOREX ranks one spot higher at #53 based on the ForexBrokers.com's assessment. For beginners seeking to educate themselves, choosing between TMGM and iFOREX will depend on individual preferences for video content versus access to archived resources and terminology guides.
| Feature |
TMGM
|
iFOREX
|
|---|---|---|
| Education (Forex or CFDs) | No | No |
| Client Webinars | No | No |
| Client Webinars (Archived) | Yes | No |
| Videos - Beginner Trading Videos | No | Yes |
| Videos - Advanced Trading Videos | No | No |
| Investor Dictionary (Glossary) | Yes | No |
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 iFOREX. TMGM finished with an overall rank of #37, while iFOREX finished with an overall rank of #52.
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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iFOREX
|
|---|---|---|
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| Trust Score | 83 | 75 |
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Both TMGM and iFOREX do not offer the ability to buy actual, delivered cryptocurrency, but they both provide the option to purchase cryptocurrency derivatives.
Both TMGM and iFOREX provide several options for depositing and withdrawing funds, including PayPal, Skrill, Visa or Mastercard, and bank wires, but neither offers 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 | TMGM | iFOREX | |
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| Trust Score | 83 | 75 | |
| Winner | check_circle | ||
| Review | TMGM Review |
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| Regulation | TMGM | iFOREX | |
|---|---|---|---|
| Trust Score | 83 | 75 | |
| Year Founded | 2013 | 1996 | |
| 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 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 2 | 1 |
| Tier-1 Licenses (Highly Trusted) | TMGM | iFOREX | |
|---|---|---|---|
| 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 | 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 | iFOREX | |
|---|---|---|---|
| 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 | iFOREX | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 12000 | 750 | |
| Forex Pairs (Total) | 62 | 88 | |
| 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 | iFOREX | |
|---|---|---|---|
| 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 | iFOREX | |
|---|---|---|---|
| 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 | iFOREX | |
|---|---|---|---|
| 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 | iFOREX | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | No | |
| Alerts - Basic Fields | Yes | No | |
| Watchlists - Total Fields | 7 | 9 | |
| Charting - Indicators / Studies (Total) | 30 | 57 | |
| Charting - Drawing Tools (Total) | 15 | 25 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | No |
| Mobile Trading | TMGM | iFOREX | |
|---|---|---|---|
| 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 | iFOREX | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | No | |
| Autochartist | No | No | |
| Trading Central (Recognia) | Yes | Yes | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | TMGM | iFOREX | |
|---|---|---|---|
| Education (Forex or CFDs) | No | No | |
| Client Webinars | No | No | |
| Client Webinars (Archived) | Yes | No | |
| Videos - Beginner Trading Videos | No | Yes | |
| Videos - Advanced Trading Videos | No | No | |
| Investor Dictionary (Glossary) | Yes | No |
| Major Forex Pairs | TMGM | iFOREX | |
|---|---|---|---|
| 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 |
| Overall | TMGM | iFOREX | |
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| Trust Score | 83 | 75 | |
| Winner | check_circle | ||
| Review | TMGM Review |
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