Questrade vs TMGM Comparison
We’ve made it easy to compare the best forex brokers, side-by-side. Our editorial team has collected thousands of data points, written hundreds of thousands of words of research, and tested over 60 brokers to help you find the best forex brokers in the industry. Our research is unbiased and independent; learn more about how we test. That same research and data powers our broker comparisons. Let's compare Questrade vs TMGM.
Can I trust Questrade?
Questrade is not publicly traded and does not operate a bank, but is authorised by two Tier-1 regulators (Highly Trusted), zero Tier-2 regulators (Trusted), zero Tier-3 regulator (Average Risk), and zero Tier-4 regulators (High Risk).
Can I trust TMGM?
TMGM is not publicly traded and does not operate a bank. TMGM is authorised by two Tier-1 regulators (Highly Trusted), zero Tier-2 regulators (Trusted), zero Tier-3 regulator (Average Risk), and two Tier-4 regulators (High Risk). TMGM is authorised by the following Tier-1 regulators: the Australian Securities & Investment Commission (ASIC) and the Financial Markets Authority (FMA).
Is Questrade good?
Regulated in both the U.S. and Canada, Questrade is a trusted full-service multi-asset broker now offering forex and CFDs alongside its stock trading services for active and passive investors. While its scope of educational resources and in-house research is limited, Questrade has an impressive platform lineup.
Is TMGM good?
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.
What is the minimum deposit requirement for opening an account with Questrade?
To open a trading account with Questrade, you'll need to make an initial minimum deposit of $250.
What is the minimum deposit requirement for opening an account with TMGM?
TMGM requires a minimum deposit of $100 before you can open an account and start trading.
What funding options does each broker offer?
It's important to make sure that your forex broker accepts the funding options and deposit methods that work best for you. Questrade offers Visa/Mastercard (Credit/Debit) and Bank Wire (Deposit/Withdraw) for banking, whereas TMGM provides Visa/Mastercard (Credit/Debit), Bank Wire (Deposit/Withdraw), PayPal (Deposit/Withdraw), Skrill (Deposit/Withdraw) and Neteller (Deposit/Withdraw).
Does Questrade or TMGM offer lower pricing?
Comparing the trading costs of forex and CFDs is not easy. Not every broker publishes average spread data, and pricing structures vary. Based on our thorough, data-driven testing of each broker's commissions and fees, we found that TMGM offers better pricing overall for traders.
Methodology: When testing each broker's commissions, fees, and pricing, we analyze multiple trade scenarios and award points based on the expansiveness (or inexpensiveness) of the broker's spreads. We then run multiple scenarios for different investor types, incorporating any miscellaneous fees, to determine an "all-in" cost per trade. Learn more about how we test.
Is Questrade or TMGM safer for forex and CFDs trading?
At ForexBrokers.com, we track over 110 international regulatory agencies and sort them by tiers (Tier-1, Tier-2, Tier-3, Tier-4, and Tier-5) to help you choose well-regulated, highly trusted forex brokers. Learn more about our proprietary Trust Score rating system. Based on our research on the regulatory status of over 60 brokers, we've found that Both Questrade and TMGM hold 2 global Tier-1 licenses. Both Questrade and TMGM hold 0 global Tier-2 licenses.
After evaluating each broker based on their number of held licenses, years in business, and a range of other data-driven variables, we've determined that Questrade (86) earned a higher Trust Score than TMGM (83).
Which trading platform is better: Questrade or TMGM?
To compare the trading platforms of both Questrade and TMGM, we tested each broker's trading tools, research capabilities, and mobile apps. For trading tools, Questrade offers a better experience. With research, Questrade offers superior market research. Finally, we found Questrade to provide better mobile trading apps.
Here’s what trading platforms are available at Questrade:
- Proprietary Platform - Yes
- Web Platform - Yes
- cTrader - No
- DupliTrade - Yes
- MT4 - No
- MT5 - No
- ZuluTrade - No
- TradingView - Yes
Here’s what trading platforms are available at TMGM:
- Proprietary Platform - No
- Web Platform - Yes
- cTrader - No
- DupliTrade - No
- MT4 - Yes
- MT5 - Yes
- ZuluTrade - No
- TradingView - No
What about MetaTrader? How about copy trading?
The MetaTrader trading platform suite is wildly popular among forex and CFD traders across the globe. TMGM offers MetaTrader 4 (MT4), while Questrade does not. Forex traders also appreciate the ability to engage in social copy trading. While TMGM offers copy trading, Questrade does not.
What can I trade with each broker?
Questrade provides traders 110 currency pairs (e.g., EUR/USD) compared to TMGM's 62 available pairs. If you are interested in trading a full range of securities, TMGM offers traders access to 12000 tradeable symbols, while Questrade offers access to 641 tradeable symbols; so TMGM offers 11359 more tradeable symbols than Questrade.
We found in our testing that Questrade offers a more diverse selection of investment options than TMGM, allowing you to trade Forex Trading (Spot or CFDs), U.S. Stocks (CFD), Int'l Stock Trading (Non CFD) and Cryptocurrency (Derivative). Neither have Cryptocurrency (Physical) and Spread Betting.
Overall winner: Questrade
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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.