TMGM
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74-89% of retail CFD accounts lose money./

Vs.

Interactive Brokers
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Investing in financial products involves taking risk.

TMGM Vs. Interactive Brokers - Compare and Choose the Right One

Updated May 13 2022

Visit

74-89% of retail CFD accounts lose money./

Visit

Investing in financial products involves taking risk.

Overview

TMGM is an Australian broker specialised in financial derivatives known as contract-for-differences (CFDs). Operating since 2013, TMGM provides trading in forex, stocks, indices, cryptocurrencies and commodities.

Interactive Brokers is a global brokerage founded in 1978 that holds 11+ high tier financial licenses and provides discounted electronic trading services in nearly all the globe with access to more than 100,000+ financial instruments.

Best For
  • Swing traders who can use high leverage
  • Stock traders who do not have access or funds to trade with specialised brokers
  • Seasoned investors looking for a one-stop shop to cover a variety of needs
  • Global investors who seek the most reliable discount service available
  • Traders from intermediate to advanced level
Licenses

Financial
Licenses

Regulation

Regulated

Top-tier Licenses

1

Other Licenses

2

Provided by
TheTradingBible.com

Learn More

Financial
Licenses

Regulation

Regulated

Top-tier Licenses

10

Other Licenses

1

Provided by
TheTradingBible.com

Learn More
🏛 Financial Regulators
  • ASIC (Australia)
  • FMA (New Zealand)
  • VFSC (Vanuatu)
  • SEC (United States)
  • FINRA (United States)
  • FCA (United Kingdom)
  • ASIC (Australia)
  • IIROC (Canada)
  • MNB (Hungary)
  • BSE (India)
  • CBI (Ireland)
  • FSA (Japan)
  • CSSF (Luxembourg) CSSF
  • MAS (Singapore)
The Good
  • High and flexible leverage
  • No deposit or withdrawal fees
  • Supports Expert Advisors (EAs), hedging and news trading
  • High regulation
  • Exceptional number of investment instruments (Above 100,000+)
  • Competitive discount fees
The Bad
  • Only has financial derivatives (CFDs)
  • Inactivity fee is tied to minimum account balance
  • Complicated account opening process
  • Platforms are not beginner friendly
  • Narrow choice of deposit options (Mostly bank transfer)
Status
Operational Operational
Recent News

No fresh news at the moment. Check again soon!

No fresh news at the moment. Check again soon!

Key Data
⌛ Account Opening Time
1 Day 1 - 3 Days
📋 Documents Required
  • Valid identity document (Passport, ID Card, etc)
  • Valid proof of residence document (Bank statement, utility bills)

All documents must be under the account holder's name.

  • Valid identity document (Passport, ID Card, etc)
  • Valid proof of residence document (Bank statement, utility bills)

All documents must be under the account holder's name.

📍 Year Founded
2013 1978
💳 Minimum Deposit
$, -100 $ - 0
💰 Payment Methods
  • Bank Transfer
  • Credit cards
  • Debit cards
  • FasaPay
  • Neteller
  • RMB Instant
  • Revolut
  • Paytrust
  • Skrill
  • Sticpay
  • UnionPay
  • Wise
  • Bank Transfer
  • ACH (US only)
  • Check (US only)
  • Debit Card (US only)
  • BPAY (Australia only)
💵 Account Base Currencies
6 - EUR, USD, GBP, AUD, NZD, CAD 23 - USD, EUR, GBP, AUD, CAD, CHF, CNY, CZK, DK, HKD, HUF, INR, ILS, JPY, MXN, NZD, NOK, PLN, RUB, SGD, ZAR, KRW, SEK
🗽 Available to U.S Citizens
No Yes
❌ Restricted Countries
US. AF, SY, SO, SD, LY, NG, BI.
📊 STP Account
Yes Yes
📊 DMA Account
Yes Yes
📊 ECN Account
Yes Yes
Assets
📚 Available Assets

CFDs on stocks, currencies, commodities and indices.

  • Real stocks, currencies, ETFs, options, futures, bonds, cryptocurrencies
  • CFDs on almost every possible asset class
  • Structured Products
📙 Stocks
12,000+ 78 markets
📘 Currency Pairs
55 105
📗 Commodities
6 35 markets
📕 Indices
15 13
📔 ETFs
N/A 13,000+
💸 Cryptocurrencies
12 4
📒 Bonds
N/A 60,000+
📓 Options
N/A 33 markets
📗 Futures
N/A 32 markets
📝 Notes:

All of TMGM's assets are CFDs

Interactive brokers provides real assets (equities) from more than 100+ markets (exchanges) across the world and also provides CFDs (in allowed regions).

Trading Experience
📈 Minimum Stock Trade Size
1 Share

From 1 share - except for exchanges that allow fractional trading (US stock exchanges)

📉 Minimum ETFs Trade Size
N/A N/A for EU Citizens
📈 Minimum Crypto Trade Size
Varies per Cryptocurrency (Eg: 0.01 BTC)

No minimum, but minimum fee is $1.75 per order

📉 Minimum FX Trade Size
$1,000 (0.01 lots) $25,000 (0.25 lots)
📈 Minimum Commodities Trade Size
Varies per Commodity (0.01 lots for gold, 1 lot for Crude Oil) Varies per commodity (eg: 1 Ounce of Gold)
📉 Minimum Bonds Trade Size
N/A $1,000 for corporate/muni bonds, $1 million for treasury bonds
📈 Minimum Futures Trade Size
N/A 1 contract
📉 Minimum Options Trade Size
N/A 1 contract
💪 Retail Leverage
Up to 1:500 Up to 1:30
💪 Professional Leverage
Up to 1:500 N/A
✍ Customisable Leverage
Yes No
🎲 Deleveraged Trading
Yes Yes
🎓 Demo Account
Yes Yes
📱 IOS App
Yes Yes
📱 Android App
Yes Yes
📺 MetaTrader 4
Yes No
📺 MetaTrader 5
Yes No
💻 Web trader
Yes Yes
💻 TradingView Platform
No No
💻 Proprietary Platform
No Yes
📊 Multi-chart Tools
Yes Yes
👬 Copy Trading
No No
👫 Social Trading
No No
🔑 Guaranteed Stop-loss
No No
🔨 Trailing Stop-loss
Yes Yes
Fees
💰 Inactivity Fee

$30 fee if there is no activity for 6 months or if the account balance falls below $500.

No
💰 Deposit Fees
No No
💰 Withdrawal Fees
No

One free withdrawal per month, subsequent are $10 per withdrawal or equivalent

💰 Commissions

Yes, from $3.5 per lot round turn

Commissions depend on market and residency:

  • US residents are eligible for zero commission US stock trading. Else, for US stocks it is $0.005/share with a minimum $1 and maximum 1% of the trade value.
  • European stocks have €3 minimum and 0.05% trade value.
  • Forex commissions are volume based starting at 0.20 basis points of trade value or $2 minimum per trade, and going low as 0.08 basis points and $1.
  • Options start at $0.25 per contract and go as low as $0.15 per contract.
  • Futures start at $0.85 per contract and go as low as $0.25 per contract
Spreads
📈 EUR/USD
Dynamic - From 0 pips Dynamic - From 0.1 pips
📉 SP500
Dynamic - From 30 Pips Dynamic - From 1 Pip
📈 GOLD
Dynamic - From 11 pips N/A
📉 TSLA (Stock CFD)
Dynamic - From $0.48 Dynamic - From $0.50
📈 XLK (ETF - CFD)
N/A N/A
📉 BTC
Dynamic - From $32 N/A
Research and Analysis
⭐ Watchlists
Yes Yes
🔭 Stock Screener
Yes Yes
🗓 Economic Calendar
Yes Yes
📜 Integrated Newsfeed
Yes Yes
📡 Reuters Feed
No Yes