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City Index vs TMGM 2023

BrokerNotes.co

Written by BrokerNotes.co

August 24, 2023

Trying to decide between City Index and TMGM? We’ve taken the guesswork out of the equation with our Comparison Tool. Use our tool to compare hundreds of data points, side-by-side, to see how these two brokers stack up against each other.

Based on our extensive research, hands-on testing, and expert analysis of over a hundred data-driven variables, we've determined that, overall, City Index ranks more highly than TMGM.

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Compare

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Overall Rating City Index TMGM
Overall Rating 9.2 / 10 7.8 / 10
Account Type City Index TMGM
Standard Trade Size (100,000 units) info Yes Yes
Mini Trade Size (10,000 units) info Yes Yes
Micro Trade Size (1,000 units) info Yes Yes
Islamic Account info No Yes
Copy Trading City Index TMGM
Social Trading / Copy Trading info Yes Yes
DupliTrade info No No
ZuluTrade info No No
Cryptocurrency City Index TMGM
Cryptocurrency (Physical) info No No
Cryptocurrency (Derivative) info Yes Yes
Bitcoin info Yes Yes
ethereum info Yes Yes
Forex Trading (Spot or CFDs) City Index TMGM
Forex Trading (Spot or CFDs) info Yes Yes
Mobile Trading - Forex or CFDs info Yes Yes
Indices (Index CFDs) City Index TMGM
DAX info Yes Yes
Dow Jones info Yes Yes
FTSE info Yes Yes
NASDAQ 100 info Yes Yes
Nikkei info Yes Yes
SP 500 info Yes Yes
Investments City Index TMGM
Forex Trading (Spot or CFDs) info Yes Yes
Spread Betting info Yes No
Social Trading / Copy Trading info Yes Yes
Metals info Yes Yes
Energies info Yes Yes
Agriculturals info Yes No
ETF info Yes No
U.S. Stocks (CFD) info Yes Yes
Trading Platforms City Index TMGM
Apple iOS App info Yes Yes
Android App info Yes Yes
Proprietary Platform info Yes No
Desktop Platform (Windows) info Yes Yes
Web Platform info Yes Yes
MetaTrader 4 (MT4) info Yes Yes
MetaTrader 5 (MT5) info No No
Regulatory Licenses City Index TMGM
Tier-1 Licenses info 7 2
Australia (ASIC Authorised) info Yes Yes
Canada (CIRO Authorised) info Yes No
Hong Kong (SFC Authorised) info No No
Japan (SFC Authorised) info No No
Singapore (MAS Authorised) info Yes No
Switzerland (FINMA Authorised) info No No
United Kingdom (U.K.) (FCA Authorised) info Yes No
USA (CFTC Authorized) info No No
New Zealand (FMA Authorised) info No Yes
European Union Authorised (MiFID) info Yes info No info
Tier-2 Licenses info 1 0
Tier-3 Licenses info 0 0
Research, Education City Index TMGM
Trading Central (Recognia) info Yes Yes
Forex News (Top-Tier Sources) info Yes Yes
Daily Market Commentary info Yes Yes
Autochartist info No No
Investor Dictionary (Glossary) info Yes Yes
Videos - Beginner Trading Videos info Yes No
Client Webinars (Archived) info Yes Yes
Trading Costs City Index TMGM
Minimum Deposit info £100.00 $100
Average Spread EUR/USD - Standard info 1.4 info 0.96 info
All-in Cost EUR/USD - Active info 0.74 info 0.76 info
Active Trader or VIP Discounts info Yes Yes
Bank Wire (Deposit/Withdraw) info Yes Yes
Visa/Mastercard (Credit/Debit) info Yes Yes
PayPal (Deposit/Withdraw) info Yes No
Trading Tools City Index TMGM
Watchlists - Total Fields info 11 7
Mobile Watchlist info Yes Yes
Charting - Indicators / Studies (Total) info 88 30
Mobile Charting - Indicators / Studies info 88 30
Trust Factors City Index TMGM
Year Founded info 1983 2013
Publicly Traded (Listed) info Yes No
Bank info No No
European Union Authorised (MiFID) info Yes info No info
Trust Score info 99 83
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City Index vs TMGM Comparison

Comparing forex brokers side by side is no easy task. Our research 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. Trying to decide between City Index and TMGM? Our independent database powered by our unbiased research will help you compare City Index vs TMGM side-by-side.

What is Trust Score?

Trust Score is a data-driven rating system that provides an at-a-glance rating of a broker’s overall trust by tracking 60+ brokers and over 100 regulatory jurisdictions across the globe. To make things clearer for everyday traders, we’ve created a five-tier system for regulators and Trust Score rating labels. Learn more about Trust Score, and check out our country guides to see the most trusted brokers in your country of residence.

Can I trust City Index?

City Index has a Trust Score of 99, giving it a "Highly Trusted" Trust Score Label.

Can I trust TMGM?

TMGM has a Trust Score of 83, giving it a "Trusted" Trust Score Label.

Is City Index a good broker?

City Index, part of StoneX Group, is an award-winning, highly trusted broker with a long history of offering forex and CFDs across its global offices. Featuring a well-designed mobile trading app and a powerful web platform, City Index delivers a winning variety of tools for forex traders. Founded in 1983, City Index is regulated in multiple Tier-1 jurisdictions and carries a Trust Score rating of 99. The broker's flagship platform suite provides a large range of markets, but pricing is just average. Only a handful of markets are available on City Index's MetaTrader platform (and MT5 is not yet available).

Is TMGM a good broker?

TMGM is a trusted forex broker with multiple regulatory licenses and a well-rounded offering. TMGM doesn't offer any proprietary platforms, but traders gain access to MetaTrader 4 for desktop and mobile (albeit without any notable add-ons or plug-ins). Where TMGM really shines is its forex trader education; the broker's TMGM Academy won the 2023 Annual Award for #1 Educational Course at our sister site, ForexBrokers.com.

What Tier-1 jurisdictions is each broker regulated in?

Tier-1 is reserved for the strictest, most stringent regulatory jurisdictions in the world. Tier-1 regulators impose additional capital requirements and require a tougher initial screening process. City Index holds regulatory licenses in the following Tier-1 jurisdictions: Australia (ASIC Authorised), Canada (CIRO Authorised), Singapore (MAS Authorised) and United Kingdom (U.K.) (FCA Authorised). TMGM, on the other hand, is licensed in these Tier-1 regulatory jurisdictions: Australia (ASIC Authorised) and New Zealand (FMA Authorised). Neither have Hong Kong (SFC Authorised), CBI Authorised (Ireland), Japan (SFC Authorised), Switzerland (FINMA Authorised) and USA (CFTC Authorized)

What Tier-2 jurisdictions is each broker regulated in? What about Tier-3?

Tier-2 and tier-3 licenses are still important in evaluating the overall trustworthiness of forex brokers. As far as tier-2 licenses go, City Index is Cyprus (CySEC Authorised) and UAE (DFSA/Central Bank Authorised), while TMGM is none.. Neither have China (CBRC Authorised), India (SEBI Authorised), Israel (ISA Authorised), Russia (CBR Authorised), South Africa (FSCA Authorised) and Thailand (SEC Authorised). When comparing tier-3 licenses City Index is Cayman Islands (CIMA Authorised), while TMGM is Mauritius (FSC Authorised) and Vanuatu (VFSC Authorised).. Neither have Bahamas (SCB Authorised), Belize (FSC Authorised), Bermuda (BMA Authorised) and British Virgin Islands (FSC Authorised).

Which broker offers more trading platforms?

Whether your broker develops its own proprietary platforms or provides access to popular third-party platforms, you should make sure you can use your preferred type of trading platform. In our testing, we found that City Index offers a Proprietary Platform and Desktop Platform (Windows), whereas TMGM supports a Desktop Platform (Windows). Neither have cTrader, DupliTrade and ZuluTrade

Does City Index offer MetaTrader? Does TMGM offer MetaTrader?

Both City Index and TMGM offer the whole MetaTrader suite, which consists of both MetaTrader 4 and MetaTrader 5. If you’re new to MetaTrader 4 here’s our educational guide on how to use MT4.. Neither have MetaTrader 5 (MT5)

How do City Index and TMGM differ in terms of minimum deposit? What about average spreads and funding options?

City Index requires a minimum deposit of £100.00, while TMGM requires a minimum deposit of $100. It's also important to ensure your broker accepts the funding options and deposit methods that work best for you. In our research, we've found that City Index supports Bank Wire (Deposit/Withdraw), Visa/Mastercard (Credit/Debit) and PayPal (Deposit/Withdraw) for funding and deposit methods, whereas TMGM supports Bank Wire (Deposit/Withdraw), Visa/Mastercard (Credit/Debit) and Skrill (Deposit/Withdraw)

Which broker offers more tradeable asset classes, City Index or TMGM?

When choosing a forex broker, it’s important to consider each broker’s available investment products and tradeable asset classes. We’ve researched each broker’s individual offering of investments to help you pick the right broker for what you want to trade. During our testing, we found that City Index delivers a more diverse selection of investment options than TMGM, offering tradeable asset classes and investment types such as Forex Trading (Spot or CFDs), Spread Betting, Social Trading / Copy Trading, Metals, Energies, Agriculturals, ETF and U.S. Stocks (CFD).

We also keep track of each broker’s total number of tradeable symbols; City Index offers 13500, and TMGM offers a total of 12000 tradeable symbols.

Can I trade cryptocurrency with City Index or TMGM?

Crypto trading has become popular among forex traders across a range of international jurisdictions. As a result, many forex brokers now offer crypto products to their clients; most crypto assets are offered either as an underlying physical asset (such as when you own actual bitcoin assets, for example) or as a derivative product like a CFD. If you are looking to trade physical cryptocurrencies, you’ll find that neither City Index nor TMGM allow you to trade physical cryptocurrencies.

Who offers more research tools, City Index or TMGM?

The best forex brokers arm their clients with a variety of research tools and resources. Market research plays a huge role in any forex trader’s ability to conduct analysis within the global forex market. In our testing, we discovered that both City Index and TMGM offer the same suite of research tools and resources. Here’s a comprehensive list of the tools provided by both brokers: Daily Market Commentary, Stock Charts, Forex News (Top-Tier Sources), Trading Central (Recognia) and Social Trading / Copy Trading.. Neither have Autochartist

Broker Reviews

Still looking for more information, read our broker reviews.

City Index Review

TMGM Review

Overall winner: City Index

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announcementPlease 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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