Opening a new account in TMGM is very easy and relatively quick. Here's the complete guide to get you started.
There are many reasons why people want to start trading despite the risks. Most of them are attracted to the big money, while others simply find it entertaining. The idea of being able to make money to live comfortably from anywhere in the world with only a PC or mobile phone is definitely powerful and quite revolutionary in the financial industry. It is also an excellent option for those who long for financial freedom and high flexibility. Full-time traders can make their own schedule, work at any time they want, and live by their own rules.
If you wish to be a true trader, the first thing you need is a trading account. You need a broker and open an account in said broker to access the market. Not all brokers are beginner-friendly though, so make sure to check the broker's terms and conditions before signing up.
In this article, we're going to talk about all the steps required to open an account in TMGM broker, ranging from the types of documents you need to how to activate your account for the first time.
Contents
Introduction to TMGM
TMGM, or Trademax Global Markets, is an Australian-based broker that was established in 2013. The broker has several branches in Australia and New Zealand and is regulated by ASIC of Australia, FMA of New Zealand, and VFSC of Vanuatu. Currently, the broker operates in over 150 countries and is known to be one of the top brokers that offer high-quality services and competitive fees.
TMGM offers access to various tradable assets, such as forex pairs, shares, indices, metals, energies, and cryptocurrencies. All clients can start opening positions as small as 0.01 standard lots and a maximum of 80 lots. The maximum leverage is 1:500, although it can differ depending on the chosen instrument. Moreover, all trades are executed with the Market Execution model, so traders will get the price requested on the platform. If the price isn't available, then the trade will be carried using the next best available price.
The company was founded in 2013 and is owned and operated by Trademax Global Markets, with its headquarters locates in Australia and New Zealand. Even though Australia is not the main focus of the trading industry, the online broker is well known in the continent as it offers high leverage, low fees, and tight spread. The business currently operates in over 150 countries with $195 billion trading volume, making it one of the top ten forex brokers in the world.
As a financial services provider that is based in Australia, TMGM is also regulated by ASIC under license number 436416, FSP (New Zealand) under license no. 569807, and Vanuatu Financial Services Commission (40356).
Over the years, TMGM has expanded its assets to cover additional assets. The trading brokerage does not fall short in offering its clients a wide range of trading instruments. Today, clients can trade with 50 currency pairs, 15+ global indices, 12,000+ global stocks, 3 metals, 2 energies, and cryptocurrency.
There are 2 types of trading accounts, Edge and Classic. All accounts offer identical features such as automated trading, mobile trading, EA supports, and fixed spread with a minimum deposit of $100.
TMGM provides its clients who have registered live accounts with not one, but 2 high-quality trading platforms to choose from, namely MetaTrader 4 and MetaTrader 5. The MetaTrader 4 platform gives clients 1-click trading solutions and includes customizations for market depth analysis. While MetaTrader 5 is similar to MT4, the platform has a few more advanced options and several underlying efficiency upgrades, including additional timeframes, a larger variety of tools, and depth of market (DOM) pricing.
To register, scan one of the QR codes below:
Accepted payment methods with TMGM include wire transfer, Skrill, Neteller, Fasapay, AliPay, UnionPay, Tether (USDT), and Credit/debit cards. Clients can have a wide variety of deposit options in 5 different currencies such as AUD, USD, EUR, GBP, or NZD. Despite there is a $20-30 bank processing fee if you use bank withdrawals outside Australia, however, all withdrawals are processed in 24 hours and there are no fees to be charged.
The firm is active on YouTube, Facebook, Twitter, Instagram, and LinkedIn regularly posting news, tutorials, and career opportunities, such as internships. Brand ambassador, Gianluigi Buffon, regularly hosts online webinars which are free to register for.
TMGM also offers a training feature called TMGM Academy. The academy is a three-stage education course that guides novice traders through the basics of trading to more advanced strategies such as moving averages and Fibonacci extensions.
The broker is known to run trading competitions, which usually run for three months. The leader board is updated daily and the trader ranking highest at the end of the three months will be rewarded from a pool of up to $148,500. You can find full rules and terms and conditions on the website.
The easiest way to contact TMGM is through their email and live chat support although it's only available 24/5 found on the contact page of their website. In addition, to increase accessible customer experience, the firm provides website languages in Chinese, English, French, Indonesian, Italian, Portuguese, Spanish, Thai, and Vietnamese.
Overall, TMGM may be the right broker for you as it provides not only Forex and CFD trading but also crypto to retail and professional traders. Catering to traders from around the world, the client portal opens up a range of global opportunities via its user-friendly interface.
What Should You Prepare?
Opening a live account in TMGM is actually quick and easy, but there are several documents that you must prepare beforehand. Basically, you'll need to provide a multicolor scanned copy of each document and submit it to the broker. This is part of the regulations imposed by the authority, which aims to protect the broker and its clients from fraud and other malevolent activities.
The documents must either be in jpg, png, or pdf format and the file shouldn't be larger than 10 MB. There are two types of documents that you'll need to provide, namely:
Proof of Identity
This document is required to confirm your identity. Ensure that the document contains your full name, date of birth, and expiry date. You can choose to provide one of the following options to TMGM broker:
- Valid Passport
- Valid Government ID such as driving license or state ID
- Valid National Identity Card
Proof of Residence
This document is needed to confirm your address. Ensure that the document contains your full name and full residential address (PO Box is not accepted). Also, it should be dated within the last three months (90 days). Here are the options that you can choose from:
- Bank Statement
- Utility Bill (Gas, Electricity, Water, Phone, or Internet)
You can upload the documents straight from your Client Portal, but if you have trouble with this, you can send them via email to support@tmgm.com. The team will then process your documents manually. At TMGM, document verification typically takes a few hours. You are free to contact customer service if you'd like an update on the status of your account.
Please note that account verification is mandatory in TMGM to activate your account in this broker. If your account is still unverified, you won't be able to make any deposits and use the account to trade.
How to Start Trading in TMGM Broker
Signing up in TMGM typically only takes 10-15 minutes to complete, or maybe less if you already prepared the documents beforehand. Here are the steps that you should follow:
1. Head over to the broker's website and click "Get Started" in the top-right corner.
2. Enter your personal details, such as your name, email address, phone number, and country of residence. Then click "Next".
3. Enter your date of birth and your full address. Click "Next" to proceed.
4. Configure your account in TMGM broker. Select your preferred account type, base currency, and leverage. Create a strong password for your account.
5. Verify your account. Upload a copy of your Proof of Identity, which can either be your passport, national ID, or driver's license. You can either drop the file or click to choose the file from your computer. Make sure to upload a valid, multicolored copy of the real document.
6. Then upload your Proof of residence, which can either be a bank statement or utility bill. Make sure that the document is dated within the last 90 days. Once you're done, click "Submit". TMGM then will begin processing your documents and application and it may take a few hours to complete. If you have any questions, you can contact customer service via Live Chat at the bottom right corner of the page.
7. You will be notified via email as soon as your account is ready to go. You will receive an email containing your account credentials, including your trading account number, trading server details, password, leverage, and base currency. Your dashboard will also be updated.
As an alternative, you can open a demo account from your Client Portal. This is actually a great place to start for complete beginners. It allows you to practice trading without having to deposit real money and familiarize yourself with the trading platform.
It is worth noting that TMGM allows clients to open up to five additional live accounts at the same time. You can do so by clicking the "+ Live Account Application" button on your Client Portal. This will direct you to open a new MT4 account by default. But if you want to open a HUBx or Iress account, you'll need to send a request to the broker by sending an email from your registered email address to support@tmgm.com or contact the broker via the Live Chat on the website.
TMGM is a CFD trading provider who aspires to be the leader and innovator in the industry. The broker has several head offices in Australia and aims to connect clients to the widest range of markets through both industry-leading platforms as well as their own proprietary cutting-edge platforms.
31 Comments
Dec 23 2022
How can I fund my account in TMGM?
Jan 8 2023
Barkev: You can fund your account in TMGM after you finished your live verification such as Proof of Identify and Residence. Also, you need to choose the accounts that you want to open. After that, you must wait for the verification to be completed. For advice, do the registration on Working days and avoid Friday, because based on my experience, the verification will be faster verified on working days, and being pending on Friday. After verification is completed you just follow some steps:
You can also check the steps here.
Jan 17 2023
Barkev: it's quite easy to fund your TMGM account. Try these steps:
1. Prepare a minimum capital of 100 USD or equivalent, you can also use AUD, GBP, NZD, or EUR.
2. Enter the login area, look for the "funding menu"
3. Enter the required information
4. Check all information and nominal entered
5. The deposit will be processed
Before making a deposit, make sure you have verified your account and have an active trading account. To avoid technical or administrational problems, it is recommended to use the same method when making deposits and withdrawal. Learn the details here:
Dec 25 2022
I haven't received an email regarding my account status. What should I do?
Jan 8 2023
Amartya: I think you need to verify the documents you uploaded again because if your documents are not clear enough, the verification will become slow. You should also check if the documents you have uploaded are out of date. If you've been verified and everything is fine, you can contact customer support to see what's going on with your account status. I think checking accounts at TMGM can be very slow and takes some time to activate. It usually takes two days for verification to complete
Jan 17 2023
Amartya:
If you haven't received an email regarding your account status after registering online, there are a few things you can try:
1. Check your spam or junk mail folder to see if the email was filtered.
2. Double-check that you entered your email address correctly when registering.
3. Contact the TMGM team through the website and inform them about the status of your account. They may be able to provide you with additional information or resend the confirmation email.
4. Wait a little longer as sometimes there may be a in receiving the email.
5. If you still haven't received any email after trying these steps, it may be best to create a new account (don't forget to prepare all of the documents needed!) or contact their customer support for assistance.
Dec 25 2022
What is the best account type to choose?
Jan 8 2023
Nieve: It is depending on what method of trading that you want. Either you want tight spread or less commision. There are two accounts that you can choose : classic and edge accounts - Classic accountThe TMGM Classic account type offers spreads starting from 1 pip. However, commissions are not included as they are already part of the spread. The Classic account type is ideal for anyone who prefers to use medium and long term strategies independent of spreads. The conditon of trading that includes in classic accounts are :
Meanwhile, For comparison, the TMGM Edge account offers the lowest spreads on the site, starting from 0 pips. Users will pay a commission of $7 ($3.5 one way) for each standard lot. The Edge account is the one that most closely resembles ECN trading because there is no dealing desk. This means you get the ECN price when the spread comes from the liquidity providers directly with no intervention from TMGM. If you are a trader who wants the lowest spreads from TMGM, then this is the right account type for you.
Dec 27 2022
Is there any downside to registering in TMGM?
Jan 8 2023
Sharlene: For me, the downside of signing up for TMGM is that it's for Australian and New Zealand traders. Trading conditions such as the leverage effect are very low due to very strict regulations. This is only offered 1:20 whereas if you are a not residence of Australia and New Zealand, you will get leverage up to 1:500. And for the minimum deposit if TMGM offers $100, it can be very expensive for some people as other brokers also offer deposits at only $1. Other trade terms? In fact, it is not much different from other brokers
Apr 18 2023
@Sharlene:TMGM, also known as TradeMax Global Markets, is a global online trading platform that allows individuals to trade various financial instruments such as forex, commodities, and indices. As with any investment or trading platform, there are potential downsides to registering with TMGM that you should be aware of before making a decision. Some of these downsides include:
Risk of loss: Trading in financial instruments always involves a risk of loss. The higher the risk, the higher the potential reward. It's important to understand that trading with TMGM involves a high degree of risk and you should be prepared for potential losses.
Complex market: Trading in financial markets can be complex and confusing, even for experienced traders. It's essential to have a good understanding of the markets you are trading in and to stay up to date with market news and events.
Fees and charges: TMGM charges various fees and charges for its trading services. These may include spreads, commissions, and other charges. You should be aware of these fees and charges before opening an account.
Regulatory risks: TMGM is regulated by several financial regulatory bodies,including ASIC in Australia and VFSC in Vanuatu. However, there is always a risk of regulatory changes that may impact your trading activities.
Technology risks: Trading platforms like TMGM rely on technology, and there is always a risk of technical issues, such as system crashes, that may impact your trades.
Overall, while TMGM is a reputable trading platform, it's essential to be aware of the potential downsides of trading in financial markets and to carefully consider whether it's the right choice for you.
Dec 29 2022
Is TMGM a safe broker?
Jan 8 2023
Lurlene: If you mean "safe" is about regulation and legal broker, then TMGM is a 100% safe broker because it has been regulated by ASIC of Australia, FMA of New Zealand, and VFSC of Vanuatu. For information, the Australian ASIC and the New Zealand FMA are very strict and have very strict regulatory requirements that brokers must follow if they do not want their regulatory status to be revoked. But if you want to talk about trading conditions, TMGM is not very safe for new traders as it does not have a negative balance account which means you can get a negative balance and you can become a liability to the broker. So you must manage your money closely and carefully when dealing with TMGM If you still doubt TMGM, you can check out the review here
Jan 17 2023
Lurlene: Choosing a broker is always a very personal preferences, because it must be adjusted to the needs of each user. Thus, it is important to thoroughly research and investigate any brokerage firm before investing money with them.
You should consider factors such as the firm's regulatory compliance history, financial stability, and customer reviews. Additionally, it is important to be aware of the potential risks associated with online trading and investing.
If you check from the regulation, TMGM is considered as safe because it has been regulated by ASIC 436416, FSP (New Zealand) 569807, and The Financial Commission 22.09.2022 and VFSC 40356. Do take notes that ASIC is one of the most reliable forex regulator in the world, but its services are limited to Australian jurisdictions only.
Jan 24 2023
Thanks for the guide. because you don't see many new traders can sign up with the Broker because there are too many steps and too many verifications. I'm still a bit confused about how the registration requires so much work. Yes, I consider these steps for our safety, and I hope brokers can keep my identity safe and protect my privacy.
Mar 13 2023
Dude about the proof of Residence. I actaully dont have my own address. SO, my case is special. I had to sign up at the other brokers but it rejected because my ID Card and My address is not same, also I provide the address that actually from my uncle addresss. So, I am college and livin at Jakarta meanwhile my ID address is from Bali. I also dont ask back to the brokers that rejected me, is there anyway to sigining up without need to proof my identity.
So, I want to ask, how about in the proof of residence, I cannot offer bank statement and other bill that have prove about my address? Can I used my ID Address instead where I livin? Thank you !
Mar 13 2023
Hey there! It sounds like you're having trouble providing proof of residence when signing up with brokers because your ID card address and actual address don't match, and you don't have your own address. Unfortunately, brokers typically require proof of residence as part of their regulatory requirements, and using an ID address instead of your actual address may not be acceptable.
However, there may be other options available to you. Some brokers may accept alternative forms of proof of residence, such as a letter from your university or college confirming your address, or a letter from your employer if you have a job. You could also consider using a friend or family member's address with their permission and providing a letter of explanation.
It's important to note that brokers have different requirements and policies, so it's best to check with each one to see what options are available to you. I hope this helps!
Mar 13 2023
Dude, that is big thanks! I even dont know that brokers have some different policies! By the Way, I have contacted the TMGM support. And it said exactly like you said. I can used my ID card adress instead my uncle's address. So, I decided to use my parents address (because I have same address as my parents) and I will ask the permission to use the address too since my father has bill statement that match with my ID Card. Gosh, finally can do the live trading with TMGM off course. Once again, thank you dude for the answer.
Mar 13 2023
Yo man, I'm from the US and I don't know anything about the laws related to Forex Trading. I was just browsing this website and came across the TMGM IRESS trading platform. I couldn't find a similar platform in my country, so I decided to open a demo account there. I had no issues and was successful with the trading conditions. After that, I decided to open a live account, but during the process, I came across a page with some terms and agreements related to US FATCA. There were a few things I needed to check, but since I'm a US resident, I couldn't do so because all the checks implied that I wasn't from the US, and they don't accept US traders. Dude, what the heck is FATCA, and why won't they accept me?
Mar 13 2023
Let me answer :
FATCA stands for Foreign Account Tax Compliance Act. It is a US federal law that requires foreign financial institutions (such as banks, investment firms, and trading platforms) to report certain information about their US account holders to the US Internal Revenue Service (IRS).
If you are a US citizen or resident, FATCA requires you to disclose any foreign financial accounts you hold to the IRS. This includes foreign bank accounts, investment accounts, and any other financial accounts that meet certain reporting thresholds.
In the case of TMGM Broker, it is likely that they are required to comply with FATCA regulations as a foreign financial institution. As a result, they may not be able to accept US traders. It is the best for you, as US trader to trade with your own broker to avoid some heavy penalty because of FACTA
Mar 24 2023
As far as I know, brokers operating in Australia and New Zealand are subject to strict regulations that limit the maximum leverage they can offer to clients. For instance, ASIC, the Australian regulatory body, caps the leverage at 1:30. However, I noticed that TMGM, which claims to be regulated by ASIC, FMA of New Zealand, and VFSC Vanuatu, offers a leverage of up to 1:500. From this, I infer that the high leverage is not intended for traders in Australia or New Zealand, but rather for clients based outside these jurisdictions.
That being said, I'm not sure whether the Australian government would allow Australian traders to use an offshore broker like TMGM. If they do, it's possible that traders would have to abide by the trading terms and conditions of the offshore regulator (VFSC Vanuatu), which may differ from those of ASIC or FMA. It would be helpful to have more information on this point.
In any case, if you're an outsider looking to trade with TMGM, you would likely fall under the jurisdiction of VFSC Vanuatu or another offshore regulator, rather than that of ASIC or FMA. I hope this clarifies the situation a bit!
May 29 2023
@Rendy: So, here's the deal. In Australia and New Zealand, brokers are regulated and face certain restrictions on the maximum leverage they can offer to traders. For example, ASIC in Australia limits the leverage to 1:30. But here's where it gets interesting. TMGM claims to be regulated by ASIC, FMA of New Zealand, and VFSC Vanuatu, yet they offer leverage of up to 1:500. It seems that the high leverage options they provide are not specifically targeted at traders in Australia or New Zealand but rather for clients outside of these jurisdictions.
Now, the big question is whether Australian traders are allowed to use offshore brokers like TMGM. It's a bit of a gray area. If they are allowed, traders might have to abide by the trading terms and conditions set by the offshore regulator, in this case, VFSC Vanuatu, which could be different from those of ASIC or FMA. It would be wise to dig deeper and gather more information to fully understand the implications.
But let's say you're someone looking to trade with TMGM from outside Australia or New Zealand. In that case, you would likely fall under the jurisdiction of VFSC Vanuatu or another offshore regulator, rather than ASIC or FMA.
Apr 18 2023
"What is the step-by-step process for opening an account with TMGM Broker, and what are the requirements and considerations I should keep in mind? Specifically, I would like to know the different types of accounts available, the documents I need to submit, how long it takes for my account to be approved, and what fees or charges I can expect to pay. Additionally, I would like to know if there are any specific considerations for traders from my country or if there are any deposit or withdrawal methods that are not available. Finally, I would like to understand what additional features or benefits I can expect to receive as a TMGM account holder, such as educational resources, customer support, or trading tools."
Jun 16 2023
Hey there! So, I was checking out TMGM and trying to gather all the information I need to open an account with them. One thing that popped into my mind is the age requirement. Like, what's the minimum age you gotta be to open a trading account with TMGM? I mean, I'm super eager to dive into the world of trading, but I don't wanna hit any roadblocks, you know? Can you give me the lowdown on whether TMGM allows people under 18 to open an account, or if there's a specific age limit I need to meet? It would be awesome to get the deets on this, 'cause I'm really excited to kickstart my trading journey with TMGM. Thanks a bunch, mate! Appreciate your help!
Jun 18 2023
@Toky: Hey, mate! That's an excellent question. When it comes to the age requirement for opening a trading account with TMGM, they typically follow the industry standards and regulations. In most cases, you need to be at least 18 years old to open a trading account with them. It's a common practice among brokers to have this age limit in place to ensure legal compliance and protect the interests of their clients.
I totally get your excitement about diving into the world of trading, but it's important to meet the age requirement to avoid any roadblocks or complications down the line. If you're not yet 18, don't worry! Use this time to learn more about trading, build your knowledge and skills, and once you hit that age milestone, you'll be all set to kickstart your trading journey with TMGM or any other reputable broker.
Remember, trading is a journey, and it's awesome that you're eager to get started. Take your time, learn the ropes, and when the right time comes, you'll be ready to rock the trading world! Good luck, mate!
Sep 12 2023
Em, am I the only one who just found out that there is an IRESS platform in the broker? quite surprising for me. Usually, each broker offers an MT4, MT5 or cTrader platform for its trading platform.
Because I have never heard before that the TMGM broker has an IRESS platform, is IRESS a new platform at TMGM? What are the uses and advantages of the IRESS Platform? Is this platform suitable for trading users who are beginners or still in the process of learning to trade? Please explain
Sep 13 2023
TMGM, or Trademax Australia Limited, is a financial services company regulated by the Australian Securities and Investments Commission (ASIC) which adheres to strict standards. ASIC regulation is one of the most stringent authorities worldwide, guaranteeing stability and trustworthy care guidelines to protect clients.
TMGM trading technology and software deliver great performance with additional tools including, enhancing its technical capabilities. This broker offers three trading platforms: MetaTrader 4, MetaTrader 5, and IRESS, and does not provide any proprietary platforms based on our findings. The TMGM platform is rated Excellent with an overall rating of 8 out of 10 compared to over 500 other brokers. We ed the best-performing platforms including MT4, MT5, and IRESS, all packed with advanced features and technology.
But I will explain a little about the IRESS platform. MT4 and MT5 are mostly known for forex trading, However, IRESS is more focused on giving traders access to shares and CFD shares. Additionally, the IRESS platform is also highly customizable, and suitable for experienced traders to play with.
IRESS is a platform that supports professional software options. IRESS Trader is an advanced institutional trading platform.
Compared to the MetaTrader platform, IRESS has a simpler and more intuitive interface. In order to provide advanced level functionality for MetaTrader like IRESS, a number of plugins are required. These features include placing advanced orders, setting reminders when there is financial news or price changes, charts that can be manipulated, and also advanced watchlist features.
Nov 22 2023
I've observed that in the TMGM article, there's a depiction in the image illustrating step number 7, indicating that we'll receive an email notification regarding the readiness of our account. Upon closer examination of the image box beneath step 7, it's evident that TMGM allows the opening of not just one, but potentially two live accounts, and even includes the option to add a demo account. My inquiry is centered around the utility of having multiple live accounts in TMGM. If there are advantages, which type of account would be recommended for beginners? Additionally, is it necessary to upload personal documents again when opening multiple accounts?
Nov 24 2023
Hey there, opening multiple live accounts with TMGM can offer various benefits, depending on your trading needs. Some traders prefer having separate accounts for different trading strategies, risk levels, or asset classes. For example, you might use one account for long-term investments and another for more short-term, active trading ex : day trading and swing trading. (read : How to Choose between Day Trading Vs Swing Trading). The ability to add a demo account is useful for practicing strategies without risking real funds with same goals as the live accounts.
For beginners, it's generally recommended to start with a single live account to focus on learning and developing a consistent trading approach. Once you gain experience and have a clearer understanding of your trading preferences, you can consider opening additional accounts if needed. Regarding personal documents, the need to upload them again may depend on TMGM's specific policies. In some cases, the verification process may be required for each new account, while in others, once your identity is verified, it may apply to subsequent accounts.
Mar 27 2024
It's mentioned that Proof of Residence is required. This document is necessary to verify your address. Make sure that the document includes both your complete name and full residential address (PO Box addresses are not accepted). Additionally, it should be dated within the last three months (90 days).
I'm curious about why TMGM requires my residential address. It seems very personal, and I'm concerned about the possibility of my address being leaked.
Mar 30 2024
TMGM requests your residential address as part of their verification process to ensure compliance with regulatory requirements. This is a standard procedure in the financial industry to verify the identity and location of their clients. By confirming your residential address, TMGM can fulfill their obligations to prevent fraud, money laundering, and other illicit activities.
While it may seem intrusive, providing your residential address is essential for maintaining the security and integrity of the trading platform. TMGM takes privacy and data security seriously and has measures in place to protect your personal information from unauthorized access or disclosure.
Rest assured that TMGM handles your address and other sensitive information with the utmost confidentiality and only uses it for verification purposes. Additionally, TMGM complies with data protection laws to safeguard your privacy rights.