Written by ForexBrokers.com
In this head to head comparison of TMGM vs TeleTrade, we will compare the trading platforms, mobile apps, range of investments, costs, market research, and more. Let's dive in.
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Both TMGM and TeleTrade are well-known online brokers, but they differ significantly in their regulatory standings and trust ratings. TMGM, established in 2013, holds two Tier-1 licenses, indicating a high level of trust according to ForexBrokers.com. Though not listed on any stock exchange and not operating as a bank, TMGM boasts a Trust Score of 83 out of 99, placing it in the 'trusted' category.
TeleTrade, on the other hand, has been operating since 1994 and maintains one Tier-1 license. Similar to TMGM, it is neither publicly traded nor a bank. However, its ForexBrokers.com Trust Score is 71, which puts it in the 'average risk' category. While both brokers are notable in their own right, TMGM's higher trust levels might offer reassurance to more risk-averse investors.
| Feature |
TMGM
|
TeleTrade
|
|---|---|---|
| Year Founded | 2013 | 1994 |
| 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 | 0 |
When comparing the commissions and fees of online brokers TMGM and TeleTrade, TMGM stands out with its competitive rates, particularly with its Edge account. TMGM offers low spreads alongside a small commission of $3.50 per side, totaling $7 per round trip. This account type is favorable for traders looking for potentially lower overall costs. TMGM also accommodates Islamic finance customers with interest-free trading on their Edge accounts, adhering to Sharia law.
TeleTrade, on the other hand, does not provide detailed average spread data, making it challenging to precisely gauge their trading costs. Both brokers are rated 4 out of 5 stars for their commissions and fees, indicating a satisfactory but not exceptional offering in this area.
In terms of rankings by ForexBrokers.com within the Commissions and Fees category, TMGM is ranked higher at 35 out of 62 brokers, while TeleTrade comes in at 46. This suggests that TMGM is slightly more favorable for those prioritizing lower commissions and fees in their forex trading experience.
| Feature |
TMGM
|
TeleTrade
|
|---|---|---|
| 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 | 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 it comes to the variety of investments available, TMGM and TeleTrade both provide traders with opportunities in the forex market, offering forex trading as CFDs or spot contracts. TMGM stands out with an impressive 12,000 tradeable symbols compared to TeleTrade's 500, giving it a significant edge in investment diversity. In terms of forex pairs, TMGM offers 62 options, slightly edging out TeleTrade's 61 pairs. Unfortunately, neither broker allows clients to invest in exchange-traded securities on U.S. or international exchanges, such as buying shares of Apple or Vodafone directly.
Both TMGM and TeleTrade support copy trading, which is great for beginners or those looking to mirror the strategies of seasoned traders. However, while neither platform offers the ability to buy actual cryptocurrencies, both allow trading in cryptocurrency derivatives. TMGM's diverse offerings earn it a higher rating of 4.5 stars for its range of investments, compared to TeleTrade's 3.5 stars. TMGM is also ranked higher by ForexBrokers.com, coming in at #17 out of 62 brokers, while TeleTrade is ranked at #45. These factors make TMGM an attractive option for those seeking a broad range of investment opportunities.
| Feature |
TMGM
|
TeleTrade
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 12000 | 500 |
| Forex Pairs (Total) | 62 | 61 |
| 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 TeleTrade, both brokers stand out in offering versatile trading platforms and tools that cater to various trader needs. Both TMGM and TeleTrade provide access to the MetaTrader 4 and MetaTrader 5 platforms, which are popular choices for their user-friendly interface and comprehensive trading features. Traders looking to familiarize themselves with these platforms will appreciate that each broker offers a free virtual demo account. For those preferring to manage trades through a desktop experience, both brokers provide Windows-based platforms, complemented by web-based options for on-the-go trading. Additionally, copy trading is supported by both brokers, enabling users to mimic the trades of more experienced investors. However, traders interested in ZuluTrade will find this option only available with TeleTrade. Notably, neither broker offers a proprietary platform, which may be a consideration for those seeking exclusive technology developed in-house.
When it comes to charting tools and watchlist customization, TMGM and TeleTrade go head-to-head. Each broker supplies 15 drawing tools to aid in technical analysis, and allows for trading directly from stock charts—an advantageous feature for swift decision-making. Watchlists are customizable across seven fields, providing a useful feature for monitoring preferred securities. While both brokers share a four-star rating for their trading platforms and tools, TMGM holds a slightly higher rank, positioned at 48th among 62 brokers on ForexBrokers.com, compared to TeleTrade's 51st place. This ranking, alongside the detailed offerings of each broker, helps traders determine which platform aligns best with their trading goals and preferences.
| Feature |
TMGM
|
TeleTrade
|
|---|---|---|
| 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 | Yes |
| DupliTrade | No | No |
| ZuluTrade | No | Yes |
| Charting - Indicators / Studies (Total) | 30 | 35 |
| 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.
Both TMGM and TeleTrade provide mobile trading apps available on iPhone and Android devices, allowing users to stay connected to the markets on the go. Each app supports stock and forex price alerts, giving traders vital updates directly to their phones. Both platforms also enable users to create watchlists with real-time quotes, although they do not offer watchlist symbol syncing, meaning changes made manually won't sync between the mobile app and online account. Charting features are available on both apps, with TMGM offering 30 technical studies and TeleTrade providing 35. Users can draw trendlines, view multiple time frames, and both apps automatically save any drawings made on the charts.
When it comes to overall user satisfaction, both TMGM and TeleTrade boast a 4-star rating out of a possible five for their mobile trading apps. However, they differ slightly in the rankings by ForexBrokers.com, where TeleTrade stands at #25 and TMGM at #46 out of 62 brokers. Despite TeleTrade being more favorably ranked, both brokers offer comparable essential features for traders looking to engage with the markets through mobile devices.
| Feature |
TMGM
|
TeleTrade
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | No | No |
| Mobile Charting - Indicators / Studies | 30 | 35 |
| 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.
Both TMGM and TeleTrade offer daily market commentary and deliver forex news sourced from top-tier outlets, including Bloomberg, Reuters, or Dow Jones. However, when it comes to specialized tools, TMGM provides access to Trading Central for technical analysis while TeleTrade does not. Neither broker uses Autochartist for research tools, but TMGM takes a step further by offering sentiment-based trading tools and research options from Acuity Trading, such as the Signal Centre, which are not available with TeleTrade.
Both brokers include an economic calendar to keep traders informed of global news events impacting financial markets. Rated equally at 3.5 stars for research, TMGM lags behind TeleTrade in industry rankings; TMGM is placed at 53rd, while TeleTrade holds a higher spot at 38th out of 62 brokers according to ForexBrokers.com. This suggests that despite offering some distinct tools, TMGM's overall research services are perceived similarly to those of TeleTrade in the market.
| Feature |
TMGM
|
TeleTrade
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | No | No |
| Trading Central (Recognia) | Yes | No |
| 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 exploring educational resources offered to beginners, both TMGM and TeleTrade have room for improvement. Neither offers a variety of materials dedicated to forex or CFDs, such as articles, videos, or webinars, nor do they host regular online educational webinars. For those seeking structured learning opportunities, the absence of these resources might be a drawback. However, TMGM stands out slightly by providing a searchable archive of previously recorded webinars, which could be beneficial for self-paced learners looking to revisit past sessions.
In terms of providing definitions of investing terminology, TMGM offers an investor dictionary with over 50 terms, while TeleTrade does not offer this resource. This aspect may give TMGM a slight edge for beginners who are new to the world of investing. Both platforms share the same education rating of 3.5 stars, but TMGM ranks somewhat higher at 54th out of 62 brokers compared to TeleTrade's position at 61st, indicating a slight preference for TMGM in the educational category.
| Feature |
TMGM
|
TeleTrade
|
|---|---|---|
| Education (Forex or CFDs) | No | No |
| Client Webinars | No | No |
| Client Webinars (Archived) | Yes | No |
| Videos - Beginner Trading Videos | No | No |
| 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 TeleTrade. TMGM finished with an overall rank of #37, while TeleTrade finished with an overall rank of #50.
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
|
TeleTrade
|
|---|---|---|
| Overall Rating |
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| Trust Score | 83 | 71 |
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Both TMGM and TeleTrade do not offer the ability to buy actual delivered cryptocurrency, but they do provide options to invest in cryptocurrency derivatives.
TMGM and TeleTrade are both online brokers that do not support ACH or SEPA transfers, but while TMGM allows deposits and withdrawals through PayPal, TeleTrade does not; both brokers support transactions 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.
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0 of 5| Overall Rating | TMGM | TeleTrade | |
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| Trust Score | 83 | 71 | |
| Winner | check_circle | ||
| Review | TMGM Review |
| Broker Screenshots | TMGM | TeleTrade | |
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| Regulation | TMGM | TeleTrade | |
|---|---|---|---|
| Trust Score | 83 | 71 | |
| Year Founded | 2013 | 1994 | |
| 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 | 0 |
| Tier-1 Licenses (Highly Trusted) | TMGM | TeleTrade | |
|---|---|---|---|
| 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 | No | |
| 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 | TeleTrade | |
|---|---|---|---|
| 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 | TeleTrade | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 12000 | 500 | |
| Forex Pairs (Total) | 62 | 61 | |
| 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 | TeleTrade | |
|---|---|---|---|
| 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 | Yes | |
| Inactivity Fee | Yes | No | |
| Execution: Agency Broker | Yes | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | TMGM | TeleTrade | |
|---|---|---|---|
| Minimum Deposit | $100 | $100 | |
| 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 | TeleTrade | |
|---|---|---|---|
| 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 | Yes | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | Yes |
| Trading Tools | TMGM | TeleTrade | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 7 | 7 | |
| Charting - Indicators / Studies (Total) | 30 | 35 | |
| Charting - Drawing Tools (Total) | 15 | 15 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | TMGM | TeleTrade | |
|---|---|---|---|
| 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 | 35 | |
| 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 | TeleTrade | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | No | No | |
| Trading Central (Recognia) | Yes | No | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | No | |
| Economic Calendar | Yes | Yes |
| Education | TMGM | TeleTrade | |
|---|---|---|---|
| Education (Forex or CFDs) | No | No | |
| Client Webinars | No | No | |
| Client Webinars (Archived) | Yes | No | |
| Videos - Beginner Trading Videos | No | No | |
| Videos - Advanced Trading Videos | No | No | |
| Investor Dictionary (Glossary) | Yes | No |
| Major Forex Pairs | TMGM | TeleTrade | |
|---|---|---|---|
| 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 | TeleTrade | |
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| Trust Score | 83 | 71 | |
| Winner | check_circle | ||
| Review | TMGM Review |
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