TMGM vs IronFX Comparison
Comparing forex brokers side by side is no easy task. For our 2023 annual forex broker review, we spent hundreds of hours assessing 39 forex and CFD brokerages to find the best forex broker. Let's compare TMGM vs IronFX.
Can I trust TMGM?
TMGM has a trust score of 79, giving it a "Average Risk" trust label. Here's what each trust score label means:
- "Highly Trusted" (90-99) - These brokers are considered the most trustworthy firms in the industry. Simply put, we would not hesitate to open and fund an account with a Highly Trusted broker.
- "Trusted" (80-89) - These brokers are reliable and trustworthy. "Trusted" firms are a solid choice, and may simply hold fewer regulatory licences or feature different corporate structures than those brokers that have earned our top Trust Score rating.
- "Average Risk" (70-79) - Average Risk brokers are firms we generally consider to be safe, but that may warrant a closer inspection before you open and fund a live trading account. At the least, we always encourage traders to check the regulatory licenses for Average Risk firms to verify that they are regulated in their own country of residence.
- "High Risk" (60-69) - High-risk firms should be scrutinized and carefully reviewed before opening an account. These forex brokers are – in most cases – operating without credible regulatory licensing, and likely have a history of legal or financial issues. Before considering an account with a high-risk firm, we recommend checking our country guides for your country of residence to see if a more trusted broker is available.
- "Do Not Trust" (<59) - We do not recommend opening an account of any kind with a broker that earns a “Do Not Trust” rating.
Can I trust IronFX?
IronFX has a trust score of 84, giving it a "Trusted" trust label.
Is TMGM a good broker?
TMGM is predominantly a MetaTrader broker, offering an excellent array of educational material – albeit with fewer symbols than what's available on its IRESS platform offering. Overall, TMGM has a well-rounded offering yet lags behind the best brokers in key categories.
Is IronFX a good broker?
What tier-1 jurisdictions is each broker regulated in?
Tier-1 regulators go above and beyond by requiring additional capital requirements, checking in on brokers more frequently, and putting brokers through a tougher screening process. TMGM is ASIC Authorised (Australia) and FMA Authorised (New Zealand), while IronFX is ASIC Authorised (Australia) and FCA Authorised (U.K.)., neither have IIROC Authorised (Canada), SFC Authorised (Hong Kong), CBI Authorised (Ireland), FSA Authorised (Japan), MAS Authorised (Singapore), FINMA Authorised (Switzerland) and CFTC Registered (USA)
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, TMGM is none, while IronFX is CySEC Authorised (Cyprus)., neither have CBRC Authorised (China), SEBI Authorised (India), ISA Authorised (Israel), CBR Authorised (Russia), FSCA Authorised (South Africa), SEC Authorised (Thailand) and DFSA / Central Bank Authorised (UAE). When comparing tier-3 licenses TMGM is VFSC Authorised (Vanuatu), while IronFX is BMA Authorised (Bermuda)., neither have SCB Authorised (Bahamas), IFSC Authorised (Belize), FSC Authorised (British Virgin Islands), CIMA Authorised (Cayman Islands) and FSC Authorised (Mauritius).
Which broker offers more trading platforms?
For trading platforms TMGM supports a Proprietary Platform and Desktop Platform (Windows), whereas IronFX supports a Desktop Platform (Windows)., neither have cTrader, DupliTrade and ZuluTrade
Does TMGM offer MetaTrader? Does IronFX offer MetaTrader?
Both TMGM and IronFX 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 TMGM and IronFX differ in terms of minimum deposit? What about average spreads and funding options?
TMGM requires a minimum deposit of $100, while IronFX requires a minimum deposit of $50. From our testing we found TMGM offers spreads of 0.96 (July 2021), while IronFX offers spreads of 1.2. Both TMGM and IronFX offer Bank Wire (Deposit/Withdraw), Visa/Mastercard (Credit/Debit) and Skrill (Deposit/Withdraw) for deposits., neither have PayPal (Deposit/Withdraw)
Which brokers offers more tradeable asset classes, TMGM or IronFX?
Both TMGM and IronFX allow you to trade Forex Trading (Spot or CFDs), Social Trading / Copy Trading, Metals, Energies and U.S. Stocks (CFD)., neither have Spread Betting, Agriculturals and ETF Looking at total tradeable symbols, TMGM has 12000, compared to 340 from IronFX.
Can I trade cryptocurrency with TMGM or IronFX?
Crypto trading is popular with forex traders. Most crypto assets are offered either as the underlying physical asset or as a CFD or other derivative — including spot forex contracts. In terms of trading physical cryptocurrency neither TMGM nor IronFX allow you to trade physical cryptocurrencies.
Who offers more research tools, TMGM or IronFX?
Both TMGM and IronFX offer a complete suite of research, providing traders with these tools: Daily Market Commentary, Stock Charts, Forex News (Top-Tier Sources), Trading Central (Recognia) and Social Trading / Copy Trading., neither have Autochartist