Interactive Brokers vs TMGM
Interactive Brokers or TMGM – which is better for UK traders 2024? Compare Interactive Brokers and TMGM in this detailed breakdown of their platforms, features and fees.
| Interactive Brokers | TMGM |
|---|---|
 |
 |
|
|
| Interactive Brokers is ranked #35 among CFD brokers. | TMGM is ranked #58 among CFD brokers. |
| Interactive Brokers (IBKR) is a premier brokerage, providing access to 150 markets in 33 countries, along with a suite of comprehensive investment services. With over 40 years of experience, this Nasdaq-listed firm adheres to stringent regulations by the SEC, FCA, CIRO, and SFC, amongst others, and is one of the most trusted brokers for trading around the globe. | TMGM is an ASIC-regulated forex and CFD broker with a vast range of tradeable assets covering forex, stock, index, crypto and commodity markets. The account types on offer provide a flexible choice between no commission or zero spreads, with competitive pricing all-round. |
| Pros | |
|
|
| Cons | |
|
|
| FCA Regulated | |
| Yes | No |
| Instruments | |
| Stocks, Options, Futures, Forex, Funds, Bonds, ETFs, Mutual Funds, CFDs, Cryptocurrencies | CFDs, Stocks, Energies, Indices, Metals, Cryptos, Forex |
| Demo Account | |
| Yes | Yes |
| Minimum Deposit | |
| $0 | $100 |
| Payment Methods | |
| Minimum Trade | |
| $100 | 0.01 Lots |
| Regulator | |
| FCA, SEC, FINRA, CFTC, CBI, CIRO, SFC, MAS, MNB, FINMA, AFM | ASIC, FMA, VFSC |
| Mobile Apps | |
| iOS & Android | iOS & Android |
| Trading App | |
The IBKR Mobile app, available on both iOS and Android devices, makes your phone a powerful gateway to your IBKR accounts, offering you the freedom to keep an eye on portfolios, initiate trades, and dive into real-time quotes and charts, all while managing your account activities on the fly. This app stands out for its intuitive design, making it especially welcoming for those just starting their trading journey, providing a smoother and more accessible experience than the more complex TWS platform. |
|
| iOS App Rating | |
|
|
|
| Android App Rating | |
|
|
|
| Margin Trading | |
| Yes | Yes |
| Margin Rate | |
| 1.55 - 2.59% | |
| MetaTrader 4 | |
| No | Yes |
| MetaTrader 5 | |
| No | Yes |
| cTrader | |
| No | No |
| AlgoTrader | |
| Yes | No |
| OmniTrader | |
| Yes | No |
| TradingView | |
| No | Yes |
| Autochartist | |
| No | No |
| eSignal | |
| Yes | No |
| Trading Central | |
| Yes | Yes |
| STP Account | |
| Yes | No |
| ECN Account | |
| No | Yes |
| DMA Account | |
| Yes | Yes |
| MAM Account | |
| Yes | Yes |
| PAMM Account | |
| No | Yes |
| LAMM Account | |
| No | No |
| Demat Account | |
| No | No |
| AI / Machine Learning | |
| Yes | No |
| Robo Advisor | |
| Yes | No |
| Negative Balance Protection | |
| Yes | Yes |
| Market Maker | |
| No | No |
| P2P Trading | |
| No | No |
| Spot Trading | |
| Yes | Yes |
| Auto Trading | |
| Capitalise.ai & TWS API | Yes |
| Copy Trading | |
| No | Yes |
| Copy Trading Platform | |
| Copy trading is available through HUBx, a service designed to help investors automatically mirror the positions of successful traders. This is ideal if you want hands-off access to popular financial markets. | |
| Social Trading | |
| No | No |
| Trade Signals | |
| MT4 Expert Advisors (EAs) | |
| VPS Hosting | |
| No | Yes |
| Tournaments | |
| No | Yes |
| Demo Competitions | |
| No | No |
| Ethical Investing | |
| Yes | No |
| Custodial Account | |
| No | No |
| Guaranteed Stop Loss | |
| No | No |
| Inactivity Fee | |
| $0 | |
| Islamic Account | |
| No | Yes |
| Account Currencies | |
|
|
| Commodities | |
|
|
| CFD | |
| Over 8,000 CFDs are offered on a vast array of instruments, encompassing stocks, indices, forex, and commodities. Moreover, the TWS platform lends itself to seasoned traders, offering a comprehensive selection of over 100 order types and algorithms, alongside premium market data sourced from reputable sources such as Reuters and Dow Jones. | Trade CFDs on a broad range of asset classes including forex, energies, precious metals, company shares, indices and cryptos. The excellent trade execution and opportunity to trade with direct market access pricing sets this broker apart from rivals. |
| Leverage | |
| 1:50 | 1:500 |
| FTSE Spread | |
| 0.005% (£1 Min) | 4.0 |
| GBPUSD Spread< | |
| 0.08-0.20 bps x trade value | 1.4 |
| Oil Spread | |
| 0.25-0.85 | 0.0 |
| Stocks Spread | |
| 0.003 | Variable |
| Forex | |
| IBKR presents an extensive range of over 100 major, minor, and exotic forex pairs, surpassing the offerings of nearly all leading alternatives, though not CMC Markets. Forex trading occurs over multiple platforms and boasts institutional-grade spreads starting from 0.1 pips and 20 complex order types, including brackets, scale, and one-cancels-all (OCA) orders. | Trade 50+ forex pairs, including popular major, minor and exotic pairs. This is a decent selection, but traders will have a choice between the attractive MT4, MT5 or IRESS platforms and regulatory cover from ASIC. The VPS will also suit automated forex trading strategis. |
| Assets | |
| 100+ | 50+ |
| GBPUSD Spread | |
| 0.08-0.20 bps x trade value | 1.4 |
| EURUSD Spread | |
| 0.08-0.20 bps x trade value | 0.3 |
| EURGBP Spread | |
| 0.08-0.20 bps x trade value | 0.2 |
| Cryptocurrency | |
| IBKR lets you purchase and hold Bitcoin, Bitcoin Cash, Ethereum, and Litecoin at competitive commission rates and without needing a crypto wallet. Additionally, there is a range of other diverse assets to explore, such as crypto indices like the NYSE Bitcoin Index, as well as futures contracts like the BAKKT Bitcoin Futures. | Trade CFDs on 12 major cryptocurrencies including BTC and ETH in pairs with USD and with leverage up to 1:20. The dozen tokens on offer is very respectable for a CFD broker, though crypto traders looking for emerging tokens will prefer an exchange or dedicated crypto broker. |
| Spread | |
| 0.12%-0.18% | Variable |
| Coins | |
|
|
| Crypto Lending | |
| No | No |
| Crypto Mining | |
| No | No |
| Crypto Staking | |
| No | No |
| Auto Market Maker | |
| No | No |
| Interactive Brokers | TMGM |
| More Comparisons | |
|
Interactive Brokers vs |
TMGM vs |