Written by ForexBrokers.com
In this head to head comparison of TMGM vs IronFX, 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 IronFX, both established players in the online brokerage sector, share many similarities yet have distinct characteristics worth noting. TMGM was founded in 2013, while IronFX began operations in 2010. Neither broker is publicly traded or operates as a bank, which can be a consideration for investors seeking more transparency typically associated with listed companies or banking institutions. Both brokers hold a Trust Score of 83 out of 99 from ForexBrokers.com, indicating a trusted status in the industry.
In terms of regulatory oversight, TMGM holds two Tier-1 licenses, reflecting a high level of trust. IronFX, on the other hand, holds three Tier-1 licenses, suggesting slightly stronger regulatory backing. Neither firm holds any Tier-2 licenses, which are also regarded as trusted by ForexBrokers.com. While both brokers provide a trusted trading environment, IronFX edges out with an additional Tier-1 license, potentially offering an extra layer of regulatory assurance to its clients.
| Feature |
TMGM
|
IronFX
|
|---|---|---|
| Year Founded | 2013 | 2010 |
| 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 the commissions and fees of TMGM and IronFX, TMGM offers competitive rates with its Edge account, which features low spreads and no requotes. The choice between the spread-only Classic account and the commission-based Edge account determines trading costs. The Edge account charges a $3.50 commission per side ($7 round trip), alongside low spreads. While spread data for EUR/USD wasn't available, TMGM's competitive offerings make it an attractive choice, especially for Islamic finance customers seeking interest-free accounts, as only the Edge account supports these.
On the other hand, IronFX's pricing potential could be enhanced as its spreads appear higher than the industry average. The Standard variable spread account lists a typical spread of 1.8 pips, but this varies by account type. A zero fixed-spread account starts at zero pips but incurs an $18 per lot commission, and spreads widen to 3 pips overnight. These factors might lead traders to consider alternatives if low trading costs are a priority.
In terms of ratings, TMGM receives a solid 4 out of 5 stars for commissions and fees, ranking #35 out of 62 brokers according to ForexBrokers.com. IronFX also garners a 4-star rating but ranks lower at #47. These rankings and ratings reflect the brokers' strengths in offering competitive trading costs and highlight areas for improvement, informing traders' decisions based on their specific needs and preferences.
| Feature |
TMGM
|
IronFX
|
|---|---|---|
| Minimum Deposit | $100 | $50 |
| Average Spread EUR/USD - Standard | N/A | 1.2 |
| All-in Cost EUR/USD - Active | N/A | N/A |
| Active Trader or VIP Discounts | No | Yes |
| ACH or SEPA Transfers | No | No |
| PayPal (Deposit/Withdraw) | Yes | No |
| 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 evaluating the range of investments available through online brokers, TMGM and IronFX both provide forex trading via CFDs or spot contracts. However, TMGM stands out with a significantly wider selection of tradeable symbols, offering 12,000 compared to IronFX's 340. While IronFX provides a greater number of forex pairs, with 83 compared to TMGM's 62, neither broker offers direct access to exchange-traded securities on U.S. or international exchanges. Both platforms do feature copy trading capabilities, and while they do not allow clients to purchase actual cryptocurrencies, they do offer cryptocurrency derivatives.
In terms of ratings and rankings that reflect their investment offerings, TMGM is given 4.5 stars for its range of investments, ranking 17th out of 62 brokers according to ForexBrokers.com. On the other hand, IronFX is rated 3.5 stars and ranks 51st. These evaluations highlight TMGM's broader array of options and stronger position within the brokerage landscape, particularly for investors seeking diversity in tradeable symbols. Overall, TMGM presents itself as a more versatile option compared to IronFX, offering investors access to a more expansive selection of investment opportunities.
| Feature |
TMGM
|
IronFX
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 12000 | 340 |
| Forex Pairs (Total) | 62 | 83 |
| 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 TMGM and IronFX on trading platforms and tools, both brokers offer several features appealing to traders. Both TMGM and IronFX provide simulated trading through free virtual demo accounts, which is beneficial for beginners looking to hone their skills without risk. Neither broker offers a proprietary platform, relying instead on popular platforms such as MetaTrader 4 (MT4), which is supported by both. Additionally, TMGM extends its offerings to include MetaTrader 5 (MT5), which IronFX does not support. Both brokers offer desktop platforms for Windows and web-based trading, providing flexibility in how traders access their accounts. Also, both brokers support copy trading options.
While both TMGM and IronFX offer 15 drawing tools for charting, they differ in platform ratings and rankings. TMGM has the advantage with a rating of 4 stars for its trading platforms and tools, while IronFX is just behind with 3.5 stars. When it comes to rankings by ForexBrokers.com, TMGM is placed at #48 out of 62 brokers, significantly higher than IronFX at #60. Both brokers support trading directly from stock charts, feature 7 columns for watch lists, and do not support platforms like DupliTrade and ZuluTrade. These distinctions can help traders decide which broker aligns best with their specific trading needs.
| Feature |
TMGM
|
IronFX
|
|---|---|---|
| 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 | No |
| 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 it comes to mobile trading apps, both TMGM and IronFX offer users strong options for iPhone and Android devices. Both platforms provide stock and forex price alerts, along with the ability to draw trendlines and view multiple time frames on charts. They each offer 30 technical studies in their charting tools and permit the creation of watchlists with real-time quotes. However, neither app supports watchlist symbol syncing between the mobile and online versions.
Despite similar features, TMGM stands slightly ahead with a mobile app rating of 4 stars compared to IronFX’s 3.5 stars. Additionally, TMGM ranks 46th among 62 brokers on ForexBrokers.com for their mobile trading app, whereas IronFX is positioned at 61st. This suggests that while both apps are capable tools for traders, TMGM might deliver a marginally better user experience.
| Feature |
TMGM
|
IronFX
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | No | No |
| 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.
When comparing TMGM and IronFX for market research offerings, both brokers provide robust daily market commentaries and forex news from leading sources like Bloomberg and Reuters. They also provide customers with access to Trading Central tools that offer valuable technical analytics insights. However, while both brokers lack tools from Autochartist and do not offer market research from TipRanks, TMGM distinguishes itself by providing a sentiment-based trading tool that visualizes long and short positions across various instruments, which IronFX does not provide.
Additionally, TMGM offers research tools from Acuity Trading such as the Signal Centre, enhancing its market research support, whereas IronFX does not have this feature. Both brokers include an economic calendar to keep traders updated on global news events. In terms of research ratings, IronFX has the edge with a 4-star rating compared to TMGM’s 3.5 stars. Moreover, in the realm of research, IronFX is more favorably ranked at #28 by ForexBrokers.com, while TMGM sits further down the list at #53.
| Feature |
TMGM
|
IronFX
|
|---|---|---|
| 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 | No |
| TipRanks | No | No |
| Signal Centre (Acuity Trading) | Yes | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When it comes to educational resources for forex and CFD trading, IronFX offers a broader selection for beginners compared to TMGM. IronFX provides more than ten educational pieces such as articles and videos, covering key topics in forex or CFDs. This is a helpful starting point for newcomers who want a solid understanding of these financial instruments. In contrast, TMGM lacks in this area with fewer educational resources suitable for beginners. Both platforms, however, provide a searchable archive of previously recorded webinars, giving traders the chance to revisit valuable sessions.
For those seeking beginner-friendly trading videos, IronFX covers a more comprehensive range, offering at least ten educational videos specifically crafted for novices. In this aspect, TMGM falls short, providing fewer beginner-targeted videos. Both brokers feature an investor dictionary with many trading terms, making it convenient for traders to understand necessary jargon. In educational rankings, IronFX holds a slight edge with a 4-star education rating and ranks #44 out of 62 brokers, while TMGM has a rating of 3.5 stars and ranks at #54. This difference highlights IronFX's commitment to supporting beginner traders through better educational offerings.
| Feature |
TMGM
|
IronFX
|
|---|---|---|
| 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 IronFX. TMGM finished with an overall rank of #37, while IronFX finished with an overall rank of #48.
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
|
IronFX
|
|---|---|---|
| Overall Rating |
|
|
| Trust Score | 83 | 83 |
| Range of Investments |
|
|
| Commissions & Fees |
|
|
| Platform & Tools |
|
|
| Research |
|
|
| Mobile Trading |
|
|
| Education |
|
|
Neither TMGM nor IronFX allows the purchase of actual, delivered cryptocurrency, but both platforms offer the ability to trade cryptocurrency derivatives.
When comparing online brokers TMGM and IronFX, neither offers ACH or SEPA transfers for account transactions, but TMGM provides more flexibility with PayPal, while both platforms support deposits and withdrawals via 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.
Select Brokers
↓×Compare
0 of 5| Overall Rating | TMGM | IronFX | |
|---|---|---|---|
| Overall Rating |
|
| |
| Commissions & Fees |
|
| |
| Range of Investments |
|
| |
| Platform & Tools |
|
| |
| Mobile Trading |
|
| |
| Research |
|
| |
| Education |
|
| |
| Trust Score | 83 | 83 | |
| Winner | check_circle | ||
| Review | TMGM Review |
| Broker Screenshots | TMGM | IronFX | |
|---|---|---|---|
| Trading Platforms Gallery (click to expand) |
| ||
| Mobile Trading Gallery (click to expand) |
| ||
| Research Gallery (click to expand) |
| ||
| Education Gallery (click to expand) |
|
| Regulation | TMGM | IronFX | |
|---|---|---|---|
| Trust Score | 83 | 83 | |
| Year Founded | 2013 | 2010 | |
| 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 | IronFX | |
|---|---|---|---|
| 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 | IronFX | |
|---|---|---|---|
| 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 | IronFX | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 12000 | 340 | |
| Forex Pairs (Total) | 62 | 83 | |
| 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 | IronFX | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | N/A | 1.2 | |
| All-in Cost EUR/USD - Active | N/A | N/A | |
| Active Trader or VIP Discounts | No | Yes | |
| Inactivity Fee | Yes | No | |
| Execution: Agency Broker | Yes | Yes | |
| Execution: Market Maker | Yes | Yes |
| Funding | TMGM | IronFX | |
|---|---|---|---|
| Minimum Deposit | $100 | $50 | |
| PayPal (Deposit/Withdraw) | Yes | No | |
| 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 | IronFX | |
|---|---|---|---|
| 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 | No | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | TMGM | IronFX | |
|---|---|---|---|
| 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 | IronFX | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | No | No | |
| 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 | IronFX | |
|---|---|---|---|
| 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 | No | |
| Economic Calendar | Yes | Yes |
| Education | TMGM | IronFX | |
|---|---|---|---|
| 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 | IronFX | |
|---|---|---|---|
| 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 | IronFX | |
|---|---|---|---|
| Overall Rating |
|
| |
| Commissions & Fees |
|
| |
| Range of Investments |
|
| |
| Platform & Tools |
|
| |
| Mobile Trading |
|
| |
| Research |
|
| |
| Education |
|
| |
| Trust Score | 83 | 83 | |
| Winner | check_circle | ||
| Review | TMGM Review |
IG
CMC Markets
FOREX.com
XTB
eToro
AvaTrade
Plus500
Pepperstone
FP Markets
Tickmill
