Written by ForexBrokers.com
In this head to head comparison of TMGM vs Xtrade, 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.
Founded in 2013, TMGM has built a reputation for trustworthiness in the online trading industry. Although not publicly traded or a bank, TMGM holds two Tier-1 licenses, indicating a high degree of trust as per ForexBrokers.com's criteria. With a Trust Score of 83 out of 99, TMGM is categorized as a trusted broker, providing a reliable option for those looking to engage in online trading activities.
In comparison, Xtrade has been operational since 2003 and also isn't publicly traded or a bank. It carries one Tier-1 license and one Tier-2 license, denoting a mix of high and moderate trust levels. Xtrade has a Trust Score of 74, placing it in the average risk category according to ForexBrokers.com. This makes Xtrade a viable option for traders who are comfortable with taking on a slightly higher level of risk.
| Feature |
TMGM
|
Xtrade
|
|---|---|---|
| Year Founded | 2013 | 2003 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 2 | 1 |
| Tier-2 Licenses | 0 | 1 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 2 | 1 |
When comparing TMGM and Xtrade in terms of commissions and fees, TMGM presents a more competitive offering. TMGM provides two types of accounts: the spread-only Classic account and the commission-based Edge account. For those who prioritize reduced trading costs, the Edge account charges a low commission of $3.50 per side ($7 per round trip), alongside low spreads, making it the preferred choice for traders. While TMGM does not publish average spread data for EUR/USD, it still boasts a respectable 4-star rating for commissions and fees, and ranks 35th out of 62 brokers in this category.
On the other hand, Xtrade lacks transparency concerning its average spread data, which can make it challenging for traders to evaluate their overall expenses accurately. This lack of data affects its standing in the rankings, as Xtrade earns a lower 2.5-star rating for its commissions and fees, securing the last position, 62nd out of 62 brokers. For traders interested in maintaining minimal costs, particularly those seeking detailed information, TMGM stands out as the more favorable option.
Islamic finance customers interested in Sharia-compliant accounts with TMGM must choose the Edge account because it is the only option offering swap-free accounts. This further emphasizes TMGM's versatility and appeal compared to Xtrade, which does not provide specific information supporting Islamic finance needs. Overall, TMGM proves to be the more cost-effective and organized option between the two brokers.
| Feature |
TMGM
|
Xtrade
|
|---|---|---|
| Minimum Deposit | $100 | $250 |
| 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 | 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 comparing the range of investments offered by TMGM and Xtrade, TMGM stands out with a significantly larger catalog, providing access to a whopping 12,000 tradeable symbols compared to Xtrade's 482. Both platforms allow users to trade forex as CFDs, with TMGM offering 62 forex pairs and Xtrade close behind at 56 pairs. Neither broker provides exchange-traded securities on U.S. or international exchanges, meaning users cannot purchase actual shares of companies like Apple or Vodafone. Additionally, direct buying of actual cryptocurrencies isn't available on either platform, but both offer cryptocurrency derivatives.
One significant differentiator between the two brokers is TMGM's inclusion of copy trading, a feature not available with Xtrade. This makes TMGM appealing to those who prefer mimicking successful traders. Given these features, TMGM receives a higher rating of 4.5 stars for its range of investments compared to Xtrade's 3.5 stars. Moreover, according to ForexBrokers.com rankings, TMGM ranks 17th out of 62 brokers in the Range of Investments category, while Xtrade is positioned at 49th. This clear disparity highlights TMGM's broader offering, making it a more attractive choice for diversifying trading portfolios.
| Feature |
TMGM
|
Xtrade
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 12000 | 482 |
| Forex Pairs (Total) | 62 | 56 |
| 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.
TMGM and Xtrade both offer traders the chance to practice with simulated trading through free virtual demo accounts, making them accessible options for beginners. While TMGM provides widely used trading platforms like MetaTrader 4 and MetaTrader 5, Xtrade focuses on its proprietary platform. This makes TMGM more flexible for traders who prefer platforms with broader recognition and third-party development support. Both brokers cater to users who prefer web-based platforms, but only TMGM extends their offerings to include a Windows-based desktop platform. Additionally, TMGM supports copy trading, a feature not available with Xtrade.
When it comes to charting tools, TMGM offers traders a selection of 15 drawing tools, whereas Xtrade provides a larger toolkit with 100 drawing options, potentially appealing to technical analysts seeking variety. Both brokers allow trading directly from stock charts, enhancing convenience. TMGM's watch lists accommodate seven fields, while Xtrade's provide nine, offering a bit more depth in market monitoring. Although TMGM earns a higher rating of 4 stars compared to Xtrade's 3.5 stars for trading platforms and tools, its ranking at #48 indicates a more favorable position relative to Xtrade's #58 rank among 62 brokers reviewed by ForexBrokers.com.
| Feature |
TMGM
|
Xtrade
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| 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 | N/A |
| Charting - Drawing Tools (Total) | 15 | 100 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 7 | 9 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When deciding between the mobile trading apps offered by TMGM and Xtrade, both platforms provide iPhone and Android apps, ensuring accessibility for users on either operating system. TMGM stands out for its comprehensive offerings, including stock and forex price alerts, which Xtrade lacks. Technical traders might appreciate TMGM's inclusion of 30 technical studies in its app and the ability to draw trendlines and view multiple time frames on charts. These features are not available in Xtrade's mobile app. Furthermore, TMGM users benefit from auto-saving of chart drawings, whereas Xtrade users do not have this functionality.
Both TMGM and Xtrade are rated four stars for their mobile trading apps, showing a level of user satisfaction. However, TMGM allows for the creation of watchlists with real-time quotes, a feature missing from Xtrade. It's worth noting that neither platform supports watchlist symbol syncing between the mobile and online accounts. According to ForexBrokers.com, TMGM ranks slightly higher in the Mobile Trading Apps category, holding the 46th position out of 62 brokers, while Xtrade follows at the 53rd position. These rankings reflect a nuanced distinction in user experience and feature accessibility between the two apps.
| Feature |
TMGM
|
Xtrade
|
|---|---|---|
| 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 Xtrade both provide daily market commentary and deliver forex news from reputable sources like Bloomberg and Reuters, ensuring their users have timely information at their fingertips. However, while neither platform incorporates research tools from Autochartist or receives market insights from TipRanks, TMGM offers an edge with additional research tools from Trading Central and Acuity Trading. This allows TMGM clients access to advanced technical analysis and sentiment-based trading tools that display market positions across currencies, enhancing their trading strategies.
Both brokers keep investors informed with an economic calendar showcasing significant global news events. Despite some differences in their research offerings, TMGM and Xtrade receive a similar research rating of 3.5 stars out of five. In competitive rankings, Xtrade slightly outpaces TMGM, earning the 52nd spot out of 62 brokers, with TMGM following closely at 53rd. Overall, while both brokers cater to informed trading, TMGM distinguishes itself by providing varied research tools that may appeal to traders seeking a more comprehensive analysis suite.
| Feature |
TMGM
|
Xtrade
|
|---|---|---|
| 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 it comes to helping beginners learn about forex and CFDs trading, TMGM and Xtrade have different strengths. Xtrade leads with a collection of over 10 educational resources such as articles and videos focused on forex and CFDs, something TMGM doesn't provide at this scale. However, TMGM compensates with a searchable archive of recorded webinars, allowing users to dive into past learning sessions at their convenience, whereas Xtrade lacks this feature. Neither broker offers regular live educational webinars or a comprehensive suite of beginner-focused videos, making these areas a potential drawback for both.
Both TMGM and Xtrade excel slightly with their investor dictionaries, containing definitions for over 50 investing terms, which is particularly useful for newcomers seeking to understand the lingo. In terms of educational offerings, both brokers share a similar rating of 3.5 out of 5 stars, although Xtrade ranks a bit higher at 46th compared to TMGM's 54th place in ForexBrokers.com's education category. This suggests that while they perform fairly evenly, Xtrade has a slight edge in educational support. Overall, each platform offers its own unique benefits and limitations regarding educational resources for beginners.
| Feature |
TMGM
|
Xtrade
|
|---|---|---|
| Education (Forex or CFDs) | No | Yes |
| 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 | 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 Xtrade. TMGM finished with an overall rank of #37, while Xtrade finished with an overall rank of #59.
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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Xtrade
|
|---|---|---|
| Overall Rating |
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| Trust Score | 83 | 74 |
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Both TMGM and Xtrade provide users with the opportunity to trade cryptocurrency derivatives, yet neither platform offers the capability to buy actual delivered cryptocurrencies.
In comparing the online brokers TMGM and Xtrade, neither platform supports ACH or SEPA transfers for account funding, but TMGM distinguishes itself by offering PayPal as a deposit and withdrawal option while Xtrade does not; both brokers provide options for Visa, Mastercard, Skrill, and bank wire transactions.
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 | Xtrade | |
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| Trust Score | 83 | 74 | |
| Winner | check_circle | ||
| Review | TMGM Review | Xtrade Review |
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| Regulation | TMGM | Xtrade | |
|---|---|---|---|
| Trust Score | 83 | 74 | |
| Year Founded | 2013 | 2003 | |
| 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 | 1 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 2 | 1 |
| Tier-1 Licenses (Highly Trusted) | TMGM | Xtrade | |
|---|---|---|---|
| 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 | Xtrade | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | Yes | |
| UAE (DFSA/Central Bank Authorised) | No | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | TMGM | Xtrade | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 12000 | 482 | |
| Forex Pairs (Total) | 62 | 56 | |
| 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 | Xtrade | |
|---|---|---|---|
| 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 | Xtrade | |
|---|---|---|---|
| Minimum Deposit | $100 | $250 | |
| 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 | Xtrade | |
|---|---|---|---|
| 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 | Xtrade | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | No | |
| Watchlists - Total Fields | 7 | 9 | |
| Charting - Indicators / Studies (Total) | 30 | N/A | |
| Charting - Drawing Tools (Total) | 15 | 100 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | No |
| Mobile Trading | TMGM | Xtrade | |
|---|---|---|---|
| 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 | Xtrade | |
|---|---|---|---|
| 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 | Xtrade | |
|---|---|---|---|
| Education (Forex or CFDs) | No | Yes | |
| 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 | Yes |
| Major Forex Pairs | TMGM | Xtrade | |
|---|---|---|---|
| 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 | Xtrade Review |
| Overall | TMGM | Xtrade | |
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| Trust Score | 83 | 74 | |
| Winner | check_circle | ||
| Review | TMGM Review | Xtrade Review |
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