Plus500 vs TMGM 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 Plus500 vs TMGM.
Can I trust Plus500?
Plus500 has a trust score of 98, giving it a "Highly Trusted" 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 TMGM?
TMGM has a trust score of 79, giving it a "Average Risk" trust label.
Is Plus500 a good broker?
Plus500 is a highly-trusted broker offering a wide range of CFDs from within its user-friendly trading platforms. While its educational content and range of research trails category leaders, Plus500 is still a great choice for less demanding traders.
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.
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. Plus500 is Australia (ASIC Authorised), Japan (SFC Authorised), Singapore (MAS Authorised), New Zealand (FMA Authorised) and United Kingdom (U.K.) (FCA Authorised), while TMGM is Australia (ASIC Authorised) and New Zealand (FMA Authorised).. Neither have Canada (SRO Authorised), Hong Kong (SFC Authorised), CBI Authorised (Ireland), 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, Plus500 is Cyprus (CySEC Authorised), Israel (ISA Authorised), South Africa (FSCA Authorised) and UAE (DFSA/Central Bank Authorised), while TMGM is none.. Neither have China (CBRC Authorised), India (SEBI Authorised), Russia (CBR Authorised) and Thailand (SEC Authorised). When comparing tier-3 licenses Plus500 is none, while TMGM is Vanuatu (VFSC Authorised).. Neither have Bahamas (SCB Authorised), Belize (FSC Authorised), Bermuda (BMA Authorised), British Virgin Islands (FSC Authorised), Cayman Islands (CIMA Authorised) and Mauritius (FSC Authorised).
Which broker offers more trading platforms?
For trading platforms Plus500 supports a Proprietary Platform, whereas TMGM supports a Proprietary Platform and Desktop Platform (Windows).. Neither have cTrader, DupliTrade and ZuluTrade
Does Plus500 offer MetaTrader? Does TMGM offer MetaTrader?
For MetaTrader Plus500 provides neither of these, while TMGM provides MetaTrader 4 (MT4). If MetaTrader is a must for you, read our guides on the best MT4 brokers or best MT5 brokers.. Neither have MetaTrader 5 (MT5)
How do Plus500 and TMGM differ in terms of minimum deposit? What about average spreads and funding options?
Plus500 requires a minimum deposit of €100, while TMGM requires a minimum deposit of $100. From our testing we found Plus500 offers spreads of 0.8, while TMGM offers spreads of 0.96. Plus500 supports Bank Wire (Deposit/Withdraw), Visa/Mastercard (Credit/Debit) and PayPal (Deposit/Withdraw) for popular funding options, where TMGM supports Bank Wire (Deposit/Withdraw), Visa/Mastercard (Credit/Debit) and Skrill (Deposit/Withdraw).
Which brokers offers more tradeable asset classes, Plus500 or TMGM?
Plus500 offers a more diverse selection of investment options than TMGM allowing you to trade Forex Trading (Spot or CFDs), Metals, Energies, ETF and U.S. Stocks (CFD).. Neither have Spread Betting and Agriculturals Looking at total tradeable symbols, Plus500 has 2800, compared to 12000 from TMGM.
Can I trade cryptocurrency with Plus500 or TMGM?
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 Plus500 nor TMGM allow you to trade physical cryptocurrencies.
Who offers more research tools, Plus500 or TMGM?
In terms of research and research tools Plus500 gives traders the following tools: Daily Market Commentary, Stock Charts and Trading Central (Recognia). In comparison TMGM has the tools listed here: Daily Market Commentary, Stock Charts, Forex News (Top-Tier Sources), Trading Central (Recognia) and Social Trading / Copy Trading.. Neither have Autochartist
Overall winner: Plus500
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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.