Written by ForexBrokers.com
In this head to head comparison of Interactive Brokers vs TMGM, we will compare the trading platforms, mobile apps, range of investments, costs, market research, and more. Let's dive in.
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Interactive Brokers and TMGM are both notable online brokers, but they differ significantly in terms of regulatory trust and history. Founded in 1977, Interactive Brokers has a strong reputation, backed by a perfect Trust Score of 99 from ForexBrokers.com. This high rating reflects its possession of nine Tier-1 licenses, indicating a high level of trust. Interactive Brokers is publicly traded, which often adds an additional layer of transparency for investors. Despite its long-standing presence in the market, it is not categorized as a bank.
On the other hand, TMGM, established in 2013, holds a Trust Score of 83, signifying a trusted status, though not on par with Interactive Brokers. TMGM maintains two Tier-1 licenses, contributing to its reliability but lacks Tier-2 licenses. Unlike Interactive Brokers, TMGM is privately held and not publicly traded. Similar to Interactive Brokers, TMGM is not considered a bank. Overall, while TMGM is seen as a trusted broker, Interactive Brokers stands out with higher regulatory credentials and more investor transparency.
| Feature |
Interactive Brokers
|
TMGM
|
|---|---|---|
| Year Founded | 1977 | 2013 |
| Publicly Traded (Listed) | Yes | No |
| Bank | No | No |
| Tier-1 Licenses | 9 | 2 |
| Tier-2 Licenses | 2 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 2 |
Interactive Brokers and TMGM are two popular choices for forex traders, each with its own approach to commissions and fees. Interactive Brokers is known for its competitive pricing but does not publish average spreads for forex, which can make direct comparisons challenging. However, during Q3 2024, Interactive Brokers offered an average spread of 0.19 pips for EUR/USD, with a total effective spread of 0.59 pips after commissions. Forex trading commissions start at 0.00002 (0.2 basis points) of the U.S. dollar trade value, with a minimum of $2 per order. Discounts are available for high-volume traders, creating an attractive option for active market participants. Interactive Brokers earns a 5-star rating for commissions and fees and is ranked #2 out of 62 brokers by ForexBrokers.com.
TMGM provides traders with a competitive commission structure, particularly with its commission-based Edge account. Although recent average spread data for the EUR/USD is unavailable, the Edge account charges a commission of $3.50 per side ($7 per round trip) in addition to prevailing spreads, which are generally low. TMGM’s Edge account is especially attractive for traders who want transparent costs combined with competitive spreads. While TMGM did not disclose recent spread figures, its pricing remains approachable for many traders. TMGM earns a 4-star rating for commissions and fees and ranks #36 out of 62 brokers by ForexBrokers.com.
In summary, Interactive Brokers stands out for active traders due to its commission discounts and low overall trading costs, reinforced by its high ranking and star rating. On the other hand, TMGM’s Edge account offers simplicity and predictability with fixed commission rates, appealing to traders who prefer straightforward pricing. Each platform has its strengths, and the choice between them will primarily depend on a trader's individual priorities and trading volume expectations.
| Feature |
Interactive Brokers
|
TMGM
|
|---|---|---|
| Minimum Deposit | $0 | $100 |
| Average Spread EUR/USD - Standard | 0.59 | N/A |
| All-in Cost EUR/USD - Active | 0.59 | N/A |
| Active Trader or VIP Discounts | Yes | No |
| ACH or SEPA Transfers | Yes | No |
| PayPal (Deposit/Withdraw) | No | Yes |
| Skrill (Deposit/Withdraw) | No | Yes |
| Visa/Mastercard (Credit/Debit) | No | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
Interactive Brokers and TMGM both offer diverse investment opportunities, but they cater to different needs. Interactive Brokers stands out with an impressive selection of 8,500 tradeable symbols, including a wide array of exchange-traded securities on both U.S. and international exchanges, which is ideal for investors seeking to directly own shares in companies like Apple and Vodafone. In contrast, TMGM provides a larger total of 12,000 tradeable symbols with a focus on CFD and forex trading. While TMGM offers 62 tradeable forex pairs, Interactive Brokers offers a slightly higher number with 90 pairs. Additionally, each broker facilitates forex trading as both CFDs and spot contracts.
For those interested in cryptocurrencies, Interactive Brokers allows clients to buy actual digital currencies alongside derivatives, whereas TMGM focuses solely on cryptocurrency derivatives. TMGM excels in offering copy trading features, catering to investors looking to mimic successful trading strategies, a feature not available with Interactive Brokers. Overall, Interactive Brokers secures a 5-star rating for its range of investments and ranks first among 62 brokers on ForexBrokers.com, while TMGM holds a slightly lower overall investment range rating of 4.5 stars, ranking 17th, making it suitable for those keen on extensive forex and CFD options.
| Feature |
Interactive Brokers
|
TMGM
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 8500 | 12000 |
| Forex Pairs (Total) | 90 | 62 |
| U.S. Stock Trading (Non CFD) | Yes | No |
| Int'l Stock Trading (Non CFD) | Yes | No |
| Social Trading / Copy Trading | No | 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 Interactive Brokers and TMGM for their trading platforms and tools, various features set them apart. Both brokers provide simulated trading through a virtual demo account, allowing users to practice without monetary risk. Interactive Brokers stands out with its proprietary platform developed in-house, while TMGM does not have one of its own but utilizes popular platforms like MetaTrader 4 and 5. Both brokers offer desktop and web-based trading platforms, although only TMGM includes copy trading, making it appealing for those interested in mirroring successful trades without manual intervention. Interactive Brokers offers a more extensive range of drawing tools for charting, tallying up to 85, compared to TMGM's 15, and excels in providing robust watch list customization with 659 fields available compared to TMGM's 7. Additionally, both platforms allow traders to execute trades directly from charts, though Interactive Brokers receives a superior rating for trading tools and platforms.
In terms of ratings and rankings, Interactive Brokers garners an impressive 5-star rating for its trading platforms and tools, ranking #3 out of 62 brokers on ForexBrokers.com. TMGM, in contrast, earns a 4-star rating and ranks significantly lower at #48. This notable difference highlights Interactive Brokers' commitment to offering advanced tools and customizable options that appeal to a wide range of traders, even though it lacks popular features like copy trading found in TMGM. Ultimately, novice traders might lean toward TMGM for its simplified features, while seasoned traders might appreciate the extensive customization and tools offered by Interactive Brokers.
| Feature |
Interactive Brokers
|
TMGM
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | No |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | No | Yes |
| MetaTrader 4 (MT4) | No | Yes |
| MetaTrader 5 (MT5) | No | Yes |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 155 | 30 |
| Charting - Drawing Tools (Total) | 85 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 659 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Interactive Brokers and TMGM both offer mobile apps compatible with iPhone and Android platforms, providing users with access to stock and forex price alerts as well as the ability to create watchlists with real-time quotes. One notable advantage of Interactive Brokers is that its app supports watchlist symbol syncing. This feature allows any changes made on the app to synchronize with the user's online account. Conversely, TMGM does not offer this synchronization. When it comes to technical studies for charting, Interactive Brokers offers 97 options compared to TMGM's 30, providing a more extensive toolkit for technical analysis. However, TMGM's app has the advantage of auto-saving drawings on charts, a feature Interactive Brokers lacks. Both apps allow users to draw trend lines and view multiple time frames, such as daily or weekly charts.
In terms of overall performance ratings and rankings, Interactive Brokers holds a 5-star rating for its mobile trading app, securing the fourth position out of 62 brokers according to ForexBrokers.com. On the other hand, TMGM is rated slightly lower at 4 stars, ranking 47th among the same set of brokers. For users prioritizing advanced features like technical studies, watchlist syncing, and a high app rating, Interactive Brokers stands out as a solid choice. TMGM, while consistent in its offering, appeals to those who value chart features like auto-saving drawings.
| Feature |
Interactive Brokers
|
TMGM
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 97 | 30 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | No | Yes |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
Interactive Brokers and TMGM both offer traders a comprehensive range of market research tools, including daily market commentaries and forex news from top-tier sources like Bloomberg and Reuters. Both platforms also provide users with Trading Central's technical analytics and sentiment-based trading tools. Additionally, traders can access research tools from Acuity Trading and use an economic calendar to stay informed about global news events. However, Interactive Brokers holds a significant edge by offering exclusive market research from TipRanks, which is not available on TMGM.
When it comes to ratings and rankings, Interactive Brokers outshines TMGM significantly. Interactive Brokers is awarded an impressive 5-star rating for research and ranks #3 out of 62 brokers in the Research category according to ForexBrokers.com. On the other hand, TMGM receives a 3.5-star rating, placing it at a lower #53 in the same category. This stark contrast highlights Interactive Brokers as a superior choice for traders who prioritize high-quality research tools and insights.
| Feature |
Interactive Brokers
|
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 | Yes | No |
| Signal Centre (Acuity Trading) | Yes | Yes |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
For beginners eager to dive into the world of forex and CFDs, Interactive Brokers stands out with its abundance of educational resources. It offers more than 10 pieces focused on forex and CFDs, alongside regular monthly webinars designed for learning. New investors can explore a treasure trove of past webinars with ease, thanks to a user-friendly archive. There's a solid collection of beginner videos, numbering over 10, crafted to guide newcomers through the basics. For those with more experience, an equal number of in-depth videos are available to deepen their expertise. Newcomers can also benefit from an extensive investor dictionary that offers definitions of over 50 investing terms. Rated 5 stars for its educational offerings, Interactive Brokers claims the #3 spot in global rankings for education by ForexBrokers.com.
TMGM, on the other hand, provides fewer resources tailored for beginners in forex and CFDs. It lacks a collection of 10 or more educational pieces specific to these topics and does not host regular webinars. However, TMGM does offer a searchable archive of past webinars, providing some learning opportunities. Although it matches Interactive Brokers with an investor dictionary containing over 50 investing terms, the platform lacks in presenting a comprehensive video collection for beginner and advanced traders. With 3.5 stars for education and a rank of #54 out of 62 brokers, TMGM appears as a less comprehensive choice for beginners seeking in-depth, ongoing educational support.
| Feature |
Interactive Brokers
|
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 Interactive Brokers is better than TMGM. Interactive Brokers finished with an overall rank of #2, while TMGM finished with an overall rank of #37.
Interactive Brokers is a highly trusted multi-asset broker with an extensive offering of tradeable global markets. It delivers competitive fees and high-quality research and education, as well as a modern, institutional-grade trading platform suite.
| Feature |
Interactive Brokers
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TMGM
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| Trust Score | 99 | 83 |
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Interactive Brokers allows investors to purchase actual delivered cryptocurrency and also offers cryptocurrency derivatives, whereas TMGM provides the option to trade cryptocurrency derivatives but does not support the purchase of actual delivered cryptocurrency.
Interactive Brokers facilitates account funding through ACH, SEPA, and bank wire transfers, whereas TMGM supports a wider range of deposit and withdrawal options including PayPal, Skrill, Visa, Mastercard, and bank wires, but does not offer 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 | Interactive Brokers | TMGM | |
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| Trust Score | 99 | 83 | |
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| Review | Interactive Brokers Review | TMGM Review |
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| Regulation | Interactive Brokers | TMGM | |
|---|---|---|---|
| Trust Score | 99 | 83 | |
| Year Founded | 1977 | 2013 | |
| Publicly Traded (Listed) | Yes | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | No | |
| Tier-1 Licenses | 9 | 2 | |
| Tier-2 Licenses | 2 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 2 |
| Tier-1 Licenses (Highly Trusted) | Interactive Brokers | TMGM | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | Yes | |
| Canada (CIRO Authorised) | Yes | No | |
| Hong Kong (SFC Authorised) | Yes | No | |
| Japan (SFC Authorised) | Yes | No | |
| Singapore (MAS Authorised) | Yes | No | |
| Switzerland (FINMA Authorised) | Yes | No | |
| United Kingdom (U.K.) (FCA Authorised) | Yes | No | |
| USA (CFTC Authorized) | Yes | No | |
| New Zealand (FMA Authorised) | No | Yes | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | No |
| Tier-2 Licenses (Trusted) | Interactive Brokers | 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) | Yes | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | Interactive Brokers | TMGM | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 8500 | 12000 | |
| Forex Pairs (Total) | 90 | 62 | |
| U.S. Stock Trading (Non CFD) | Yes | No | |
| Int'l Stock Trading (Non CFD) | Yes | No | |
| Social Trading / Copy Trading | No | 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 | Interactive Brokers | TMGM | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 0.59 | N/A | |
| All-in Cost EUR/USD - Active | 0.59 | N/A | |
| Active Trader or VIP Discounts | Yes | No | |
| Inactivity Fee | No | Yes | |
| Execution: Agency Broker | Yes | Yes | |
| Execution: Market Maker | No | Yes |
| Funding | Interactive Brokers | TMGM | |
|---|---|---|---|
| Minimum Deposit | $0 | $100 | |
| PayPal (Deposit/Withdraw) | No | Yes | |
| Skrill (Deposit/Withdraw) | No | Yes | |
| Visa/Mastercard (Credit/Debit) | No | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | Yes | No |
| Trading Platforms | Interactive Brokers | TMGM | |
|---|---|---|---|
| Proprietary Platform | Yes | No | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | No | Yes | |
| MetaTrader 4 (MT4) | No | Yes | |
| MetaTrader 5 (MT5) | No | Yes | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | Interactive Brokers | TMGM | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 659 | 7 | |
| Charting - Indicators / Studies (Total) | 155 | 30 | |
| Charting - Drawing Tools (Total) | 85 | 15 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | Interactive Brokers | 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 | 97 | 30 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | No | Yes | |
| Mobile Economic Calendar | Yes | Yes |
| Research | Interactive Brokers | TMGM | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | No | No | |
| Trading Central (Recognia) | Yes | Yes | |
| TipRanks | Yes | No | |
| Social Sentiment - Currency Pairs | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | Interactive Brokers | 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 | Interactive Brokers | 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 | Interactive Brokers Review | TMGM Review |
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| Trust Score | 99 | 83 | |
| Winner | check_circle | ||
| Review | Interactive Brokers Review | TMGM Review |
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