TMGM vs TeleTrade Comparison
Comparing forex brokers side by side is no easy task. For our 2022 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 TeleTrade.
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 TeleTrade?
TeleTrade has a trust score of 67, giving it a "High Risk" 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 TeleTrade 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 TeleTrade is none., neither have IIROC Authorised (Canada), SFC Authorised (Hong Kong), CBI Authorised (Ireland), FSA Authorised (Japan), MAS Authorised (Singapore), FINMA Authorised (Switzerland), FCA Authorised (U.K.) 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 TeleTrade 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 TeleTrade is none., neither have SCB Authorised (Bahamas), IFSC Authorised (Belize), BMA Authorised (Bermuda), 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 TeleTrade supports a Desktop Platform (Windows) and ZuluTrade., neither have cTrader and DupliTrade
Does TMGM offer MetaTrader? Does TeleTrade offer MetaTrader?
For MetaTrader TMGM provides MetaTrader 4 (MT4), while TeleTrade provides MetaTrader 4 (MT4) and MetaTrader 5 (MT5). If MetaTrader is a must for you, read our guides on the best MT4 brokers or best MT5 brokers.
How do TMGM and TeleTrade differ in terms of minimum deposit? What about average spreads and funding options?
TMGM requires a minimum deposit of $100, while TeleTrade requires a minimum deposit of $100. From our testing we found TMGM offers spreads of 0.96 (July 2021), while TeleTrade offers spreads of -1. Both TMGM and TeleTrade 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 TeleTrade?
Both TMGM and TeleTrade allow you to trade Forex Trading, Trading - Forex 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 500 from TeleTrade.
Can I trade cryptocurrency with TMGM or TeleTrade?
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 TeleTrade allow you to trade physical cryptocurrencies.
Who offers more research tools, TMGM or TeleTrade?
In terms of research and research tools TMGM gives traders the following tools: Daily Market Commentary, Stock Charts, Forex News (Top-Tier Sources), Trading Central (Recognia) and Social Trading / Copy Trading. In comparison TeleTrade has the tools listed here: Daily Market Commentary, Stock Charts, Forex News (Top-Tier Sources) and Social Trading / Copy Trading., neither have Autochartist