TMGM Deposits and Withdrawals: Easy Steps for Beginners

Alexander: II don't know if TMGM has a fixed price. But if the broker offers a fixed rate, you can choose it instead of a variable rate. So with a fixed rate you can get (for example) $1 = €1. Every time you deposit or withdraw you will get that rate no matter what. But it has the disadvantage that you cannot get a higher rate if the market rate is high. You can read the advantages and disadvantage of fixed rate here :

• 3 Reason Why Fixed Rate is Good For you
• Fixed rate's Controversy

But, if you insist to use floating rate and want to avoid the cases that you explain, you can see the schedule, which time that TMGM process the withdraw.

Paul Mills : How safe will my money be if I deposit at TMGM. I mean, I understand if brokers have time to process my money including my deposit or withdrawal and even if the money will arrive late in a few days because wire transfer or wire transfer takes time. So, I am Ok with that, and I will not protest at all. But what worries me is my money at TMGM. As long as my money is safe, and brokers don't use my money for their own interest. I will probably trade with TMGM. There is no excuse for the safety of the trader's money, right?

Billy Den: TMGM is regulated by ASIC (Australia) and FSP (New Zealand) which means this broker has very strict regulation as the regulatory bodies also protect traders very well. Based on the TMGM website, all deposits by the seller are secured by a separate customer account store. So the broker cannot use your funds, they can only transfer your funds if you request a withdrawal. And your funds won't mix with the broker's wallet. So don't be afraid of your money in TMGM.

Agus Arianto: No, as far as I know, all I know for Forex trading is that you always use USD as it is the most widely used currency in international trading and also in Forex. And forex traders come not only from certain countries but also from all over the world. And because of that, the standard currency that uses is USD.

So, if TMGM accepts funds other than USD, it means you can deposit in AUD for example, but then it will be converted to USD. It's like the Indonesian brokers that you said before; they accept your local currency but then convert it to USD.

Siesta: Ok guys, let me explain. Although I am also not a user of this broker, I have studied this TMGM broker several times. If you ask whether this broker is safe or not? I feel safe, okay? TMGM is overseen by two of the world's leading financial jurisdictions.

• Australian Securities and Investment Commission (ASIC), the focus is on protecting Australian consumers, investors, and creditors. including one of the top-level regulators in Australia.
• and the Vanuatu Financial Services Commission (VFSC). The VFSC Financial License supports a wide range of trading services such as remittances, payments, Forex trading, bulk commodities, securities trading, and financial consulting.
• TMGM also falls under the umbrella of the Financial Markets Authority. this is the regulator for New Zealand's traders. The FMA is the entity responsible for financial reporting and enforcing securities and other laws relating to financial markets.

Of all the regulators who oversee the TMGM broker, I think this broker is a good and safe broker for trading, moreover, TMGM also offers trading with free deposit and withdrawal fees.

Bernard: In accordance with the explanation of this article and the direct explanation on the website, TMMG does not charge any fees for deposits and withdrawals even though the method used for withdrawals is via international bank wire, however, keep in mind that the minimum deposit and withdrawal made is $100. However, sending and correspondent banks may charge fees according to their fee structure, such as:

• Intermediary bank fees: When funds are withdrawn from an account held by a state-based institution other than a local bank, the transaction may be routed through one or more intermediary banks.
• Currency conversion fee: If the account is held in a currency other than the local bank, funds may need to be converted to the local currency before they can be withdrawn.
• Local bank fees: Some local banks may charge additional fees for receiving or processing wire transfers or other electronic transactions.

In my opinion, of the many brokers that I have met on the internet, only the TMGM broker offers free deposits and withdrawals for all of its methods. So for you novice traders, this broker can be an option when choosing a trading broker.

Allan W: Wow, it turns out that I've never tried trading, so it's only natural that I don't understand deposits. As far as I know, all brokers don't seem to recommend deposits using accounts from third parties. So it's better to use an account in your name only, to avoid deposit problems and avoid a fraud too...
Deposit your account easily and securely through TMGM's various payment options. Your funds are placed safely in Australia's Best Bank
TMGM also strongly discourages using someone else's payment account to fund your trading account because you may have problems with withdrawals — and we cannot guarantee successful processing if this is the case.
This TMGM cannot accept any deposits from anyone other than the account holder.
Oh yes, be careful when choosing a deposit method with a broker, because not all of the deposit methods offered are available in your country.

Reynarl: Hi dude, your question is very good. Indeed, as far as I know, every broker provides minimum and maximum limits for deposits and withdrawals, although there are some that do not provide limits. This means you are free to make any deposit, and it is usually very suitable for beginners with limited funds.
As explained in the article that the minimum Deposit and withdrawal required at TMGM broker is USD $100 (or currency equivalent) for all account types.

For maximum limits, it seems that the TMGM broker does not provide maximum limits for both deposits and withdrawals. however The recommended minimum amount is equivalent to $500 USD, but you may fund only with $100 in currencies: EUR, GBP, USD, AUD, NZD, CAD.

Patrick: Apart from that, this broker also provides 12 different deposit methods, namely the Visa method, debit/credit card, Revolut, Wise, Bank Transfer, Neteller, Skrill, Union pay, Instant RMB, Phasepay. and yeah, I think all the deposit methods are instant, it only takes a day at most.

And yes, the most profitable thing for traders is that there are no deposit fees for all ed methods. If you are still charged a fee, it means that it is an intermediary fee from a third party such as a bank, etc. Oh yes, it should be noted that not all currency options for funding are available in every method. For example, Phasepay can only deposit in USD currency and Instant RMB in CNY currency.

So you have to be more careful in choosing a deposit method. If possible, the currency that matches your country so that it is not affected can be converted.

@Erling Halland: You got it, my friend! If you deposit using a major currency like EUR, GBP, AUD, USD, or NZD, you're in luck! You won't have to hassle with currency conversion when trading those major pairs. So, if you're into trading EUR/USD, you can fund your account with EUR, and your trades will be carried out seamlessly using that currency. It's pretty convenient and saves you from dealing with exchange rates. It's definitely an attractive feature that TMGM offers, and it's worth exploring if you're interested in trading with them. So go ahead and give it a shot, and may your trades be profitable!

@Leon: Hey, great question! When it comes to withdrawing funds from TMGM, they typically provide the flexibility to choose the currency in which you want to receive your funds. So, if you initially deposited in a specific currency like AUD, GBP, USD, NZD, or EUR, you can usually withdraw in the same currency. This can definitely save you from the hassle and costs of currency conversion.

However, it's worth noting that the availability of withdrawal currencies may depend on the specific payment methods you used for depositing. Some payment methods may have limitations or restrictions on the currencies they support for withdrawals. So, it's always a good idea to check TMGM's withdrawal options and consult their customer support team to ensure you have the most accurate and up-to-date information regarding available withdrawal currencies.

When withdrawing funds from a broker using a credit card, it's crucial to acknowledge that the procedure can differ according to the broker's policies. Typically, brokers tend to prioritize returning funds to the initial deposit source. However, as you rightly pointed out, credit cards may not facilitate direct withdrawals like debit cards. From my understanding, the process involves your credit card becoming overpaid upon receiving the funds, allowing for subsequent withdrawal at an ATM. It's worth noting that credit cards can indeed be used to withdraw money from ATMs, although this action usually incurs associated charges. In simplified terms, the steps involve withdrawing from your account, the credit card registering an overpayment status, enabling withdrawal at an ATM, and subsequently restoring the credit status to zero.

Hey! So, you know those cool features offered by credit/debit cards and e-wallets? They're like the superheroes of deposit methods, seriously! Super fast 'cause everything's digital. So, when you toss some cash into your account with your card or e-wallet, bam, it's there in a flash! No waiting around for days like with bank transfers.

Now, about safety, yeah, it's a real concern, especially with e-wallets. But hey, they usually have tight security measures in place to keep your info and transactions safe. Just gotta play it smart, stick to reputable platforms, and follow the usual safety tips. But man, those instant deposits? They're a game-changer, especially when you're eager to dive into trading, right?