IC Markets vs TMGM
Two brokers compared on spreads, platforms, regulation, and execution.
Last updated: March 21, 2026
Quick Verdict
IC Markets wins this comparison — 3 out of 5 categories.
Our analysts reviewed both options across pricing, reputation, and trading conditions. IC Markets came out ahead based on our scoring criteria. Read each category below for the full breakdown.
Side-by-Side Comparison
Customer Support & Reputation
IC Markets winsIC Markets has a slight edge in customer support and overall reputation. It holds an EntryLab rating of 4.70/10. TMGM scores 4.00/10 on our platform, which is respectable but trails behind.
IC Markets4.70
TMGM4.00Leverage & Instruments
IC Markets offers greater trading power with maximum leverage of 1:500 offshore / 1:30 EU & AU. This gives active traders more flexibility to size positions. TMGM caps leverage at 1:30 ASIC / up to 1:500 offshore, which may limit scalability for experienced traders looking for higher exposure.
IC Markets1:500 offshore / 1:30 EU & AUTMGM1:30 ASIC / up to 1:500 offshoreDeposit & Withdrawal
TMGM winsIC Markets supports a wider range of deposit and withdrawal options. It accepts Bank Transfer, Visa/Mastercard, Skrill, Neteller, PayPal, Crypto, including cryptocurrency, giving traders more flexibility. TMGM offers Bank Wire, Cards, Skrill, Neteller, FasaPay, which may not suit all traders.
IC Markets$200TMGM$100Platforms & Tools
Both brokers offer a similar platform suite, so neither has a clear advantage here. Traders using MT4 or MT5 will be equally well-served by either.
IC MarketsTMGMRegulation & Safety
IC Markets winsWhen it comes to regulation, IC Markets holds the edge. IC Markets is regulated by ASIC AFSL 335692, CySEC 362/18, FSA Seychelles SD018, a top-tier authority, while TMGM operates under ASIC (Australia), FMA (New Zealand). For traders who prioritise safety and fund protection, IC Markets is the stronger choice in this category.
IC MarketsTMGMTrading Costs
IC Markets winsTMGM offers more competitive trading costs overall. With EUR/USD spreads from From 0.0 pips (Edge) + $3.50/side commission and commissions of commission-free, it undercuts IC Markets, which charges spreads of 0.0 pips (Raw) / 0.6 pips (Standard) with commission-free commission. Cost-conscious traders will find TMGM more attractive.
IC Markets0.0 pips (Raw) / 0.6 pips (Standard)TMGMFrom 0.0 pips (Edge) + $3.50/side commissionAccount Types & Min Deposit
TMGM winsTMGM is the more accessible choice for traders getting started. With a minimum deposit of $100, it requires less capital to open an account than IC Markets, which requires $200. Lower barriers to entry make TMGM the winner in this category.
IC Markets$200TMGM$100Our Pick
IC Markets Wins This Round
Based on our side-by-side analysis, IC Markets edges ahead in this matchup. Get started today.
Visit IC MarketsReady to Choose?
Frequently Asked Questions
Is IC Markets better than TMGM?
Based on our analysis across 7 key categories, IC Markets wins with a score of 4–2. However, the best broker for you depends on your specific trading style and priorities.
Which has lower spreads, IC Markets or TMGM?
TMGM offers lower trading costs. IC Markets spreads start from 0.0 pips (Raw) / 0.6 pips (Standard) while TMGM starts from From 0.0 pips (Edge) + $3.50/side commission.
Is IC Markets safer than TMGM?
IC Markets is regulated by a higher-tier authority. IC Markets is regulated by ASIC AFSL 335692, CySEC 362/18, FSA Seychelles SD018, while TMGM is regulated by ASIC (Australia), FMA (New Zealand).
Can I use MT5 with both IC Markets and TMGM?
IC Markets supports MT4, MT5, cTrader and TMGM supports MT4, MT5, IRESS. Check each broker's platform page for the latest availability.
Which has a lower minimum deposit, IC Markets or TMGM?
TMGM has the lower minimum deposit requirement. IC Markets requires $200 while TMGM requires $100.
Is IC Markets regulated?
Yes, IC Markets is regulated by ASIC AFSL 335692, CySEC 362/18, FSA Seychelles SD018. Regulation provides traders with a level of protection including segregated funds and dispute resolution mechanisms.
Which broker is better for beginners, IC Markets or TMGM?
For beginners, IC Markets is generally the stronger choice due to its lower minimum deposit and broader educational resources. However, both brokers offer standard tools suitable for newer traders.