What Is IRESS Platform in TMGM?

Laura:  Yep, I agree with you, while I was in the trading world, I just found an initial deposit that was this expensive. There's no use for high deposits, but the choice of accounts and platforms is also limited. I know there are 3 accounts here, namely standard, premium and gold, but when traders only have limited funds, in the end we only have one choice here. Yep, that's right, a standard account is only an option. Why is that possible? This is the distance between deposits per account, which is very far. From $5,000 to $10,000 to $50,000, it's just crazy and makes no sense at all. Hey, not all traders have that much money. Even though we deposit that much, the trading fees are still quite expensive. In your opinion, if you want to provide a high deposit like this, FXTM must also provide better service than other equivalent brokers.

Blanco: I have read many articles and studied several brokers operating around the world. Dana has been in the world of trading for more than a year. From what I know, TMGM is regulated by several financial authorities, including the Australian Securities and Investments Commission (ASIC) of the New Zealand Financial Markets Authority (FMA) and the Vanuatu Financial Services Commission (VFSC). TMGM also provides negative balance protection. If the balance on your account becomes negative, you will be protected. If you ask whether this platform is safe or not, I think it's quite safe, because later you will be protected depending on your country of residence, your account will be opened at one of the three TMGM legal entities. That's all I know

Denny:  I want to add from your answer, yeah, it's absolutely true that TMGM is supervised and regulated by these securities. But that doesn't mean it's safe and good in your country. To determine whether a broker is safe, I highly recommend that you check two facts:

1. How are you protected if something goes wrong? Your account will be protected by one of these three legal entities from TMGM.
2. What is the background of the broker? Trademax Global Markets (TMGM) was founded in 2013. The longer a broker's track record, the more evidence we have that the broker managed to survive previous financial crises.

From what I know TMGM does not provide protection for its clients, so if you want to trade with TMGM IRESS, you have to be careful in your decision.

Warren:  Hello bro, I can help answer your question. From what I know, this platform only offers trading in forex, CFD, and crypto. This means that many popular asset classes, such as real stocks and ETFs, are not available. TMGM is primarily a forex broker, but also provides some CFDs and cryptocurrencies to trade. TMGM's stock CFD ion is extensive, while its forex, crypto and other CFD product offerings are largely in line with competitors. TMGM products offered are 50 currency pairs, 47 Stock Index CFDs, 12,000 Stock CFDs, 5 Commodity CFDs, 12 Cryptocurrencies. And fortunately, share CFDs are only available on the IRESS platform. so if you choose the IRESS platform, you will get a large ion of products in stock CFDs.

Anrez:  Hello bro, your question is very good. It is true, of course, that every trader wants a fast, safe and secure withdrawal and deposit process. Especially considering that the funds he deposited on the TMGM IRESS platform are quite high. TMGM has no funding costs. To fund your account, you can use MasterCard, Visa, bank transfer, Skrill, UnionPay, Neteller, SticPay, FasaPay and many others. According to site regulations and policy requirements, funds on the TMGM platform are kept in segregated client trust accounts. This account is kept in Australian banks such as Westpac and NAB or if in New Zealand with a local New Zealand bank. withdrawing funds also uses the same method and will not pay a withdrawal fee. Clear communication about the company's deposit and withdrawal methods is a sure sign that TMGM IRESS is not a scam and a suitable service for you to sign up for.

@Anrez:Generally speaking, most brokers offer a variety of deposit and withdrawal methods, including bank transfers, credit/debit cards, and e-wallets such as PayPal, Skrill, or Neteller. Some brokers may also offer additional methods such as cryptocurrencies. The availability of these methods can vary depending on the broker and the trader's country of residence.

Regarding the fees, some brokers may charge fees for deposits and/or withdrawals, while others may not. These fees can vary depending on the method chosen and the broker's policies. It's important for traders to carefully review the broker's fee schedule before making a deposit or withdrawal.

As for the safety and speed of the deposit and withdrawal process, most reputable brokers take the security of their clients' funds very seriously and employ strict measures to ensure the safety of all transactions. However, the speed of the process can depend on a variety of factors, including the method chosen, the broker's processing times, and any third-party processing involved.

To ensure a smooth and secure deposit and withdrawal process, traders should carefully review the broker's policies and procedures and choose a method that best suits their needs and preferences. Additionally, it's important to keep in mind that while most brokers strive to provide fast and efficient service, there may be occasionals due to factors beyond their control, such as network congestion or third-party processing issues.

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.

Along with that, the built-in IRESS platform on the Desktop. IRESS is a better choice than MetaTrader 4 if you plan to trade stocks because IRESS allows you to trade on exchanges in the following countries – the United States, Australia, the United Kingdom, Hong Kong, China, and Singapore.

IRESS Trader is an advanced institutional trading platform and TMGM charges a monthly fee for using the platform. However, if you are an active trader and pay commissions for using the platform for them, you will be exempt from the license fee.

Compared to the MetaTrader platform, IRESS has a more straightforward and intuitive interface. In order to provide advanced MetaTrader functionality like IRESS, a number of plugins are required. These features include setting up advanced orders, setting alerts when there are financial news or price changes, custom charts, and advanced watchlist features. IRESS mobile offers almost the same functions and features as its desktop version, including Live dynamic prices, Access to real-time financial news, portfolio and equity monitoring, Advanced order management, and enhanced charts

Another benefit of IRESS is that it offers exchange rates and market depth. This is because IRESS uses Direct Market Access (DMA) trading. DMA stands for your Level 2 Market Depth Order Book price i.e. you can view orders directly from institutional liquidity providers connected to the exchange. MetaTrader 4 does not offer DMA.

The main thing to watch out for is the high minimum deposit fee of $5,000 USD. So IRESS is only for serious traders. To use IRESS, you need an IRESS account. The minimum deposit for IRESS is high because DMA trading is mostly for professional traders. Fees will differ between stock exchanges. Below are the fees for US stock exchanges.

In general, you can say the strategy can you use is same as another trading platform, which is:

• Trend-following strategy: This strategy involves identifying and trading in the direction of the prevailing trend. You can use indicators like moving averages, trend lines, or the Ichimoku Cloud to identify trends and enter trades when the price aligns with the trend.
• Breakout strategy: This strategy involves identifying key levels of support and resistance and entering trades when the price breaks out of those levels. You can use indicators like Bollinger Bands, Donchian Channels, or pivot points to identify potential breakout levels.
• Reversal strategy: This strategy focuses on identifying potential trend reversals. You can look for price patterns like double tops or bottoms, head and shoulders patterns, or use oscillators like the Relative Strength Index (RSI) or Stochastic Oscillator to identify overbought or oversold conditions.
• Swing trading strategy: This strategy aims to capture short to medium-term price swings within a larger trend. You can use a combination of indicators and chart patterns to identify potential swing trading opportunities. Fibonacci retracements, moving average crossovers, or candlestick patterns can be useful in this strategy.
• Range trading strategy: This strategy is applicable when the price is trading within a defined range. You can identify support and resistance levels and look for opportunities to buy at the lower end of the range and sell at the upper end. Oscillators like the RSI or stochastic can help you determine overbought and oversold conditions within the range.

Actually, here I just want to explain the reason why forex brokers don't accept US clients is because of the higher costs associated with doing business in the US. The US is known to have a higher cost of living and wages than many other countries, meaning forex brokers have to pay their employees more, resulting in higher operating costs.

In addition, forex brokers also have to pay higher taxes and fees to operate in the US, which can be a significant burden for smaller companies. As a result, many forex brokers choose to focus on other markets where the costs of doing business are lower.

Apart from these reasons, In the US, forex brokers are only allowed to offer a maximum leverage of 50:1 on major currency pairs and 20:1 on minor currency pairs. This is much lower than the leverage that is offered by brokers in other countries, such as Australia and Europe, where leverage of up to 500:1 is available. The restrictions on leverage in the US can make it difficult for traders to make a profit, as they are not able to take advantage of the same level of leverage that is available in other countries. As a result, many traders choose to use offshore forex brokers that offer higher leverage, which is why many US forex brokers do not accept US clients.

Read :The Two Major US Regulatory Agencies You Should Know

This is all done to protect traders from fraud and cyber crimes.

Not many brokers accept US traders. One of the main reasons why forex brokers do not accept US clients is because of the strict regulations imposed by the US government. The US government has implemented a number of regulations regarding forex brokers, including the Dodd-Frank Act which was introduced in 2010. This law requires forex brokers to register with the Commodity Futures Trading Commission (CFTC) and the National Futures Association (NFA). , which can be a lengthy and expensive process.

In addition, forex brokers are also required to meet a number of other requirements, including maintaining minimum capital requirements and submitting periodic financial reports to the authorities. These regulations can be difficult for forex brokers to comply with, which is why many prefer not to accept US clients.
Well despite the many rules in the US, it is important to remember that these regulations are designed to protect traders and ensure that the forex market operates fairly and transparently. As a result, it is important to choose a regulated and trustworthy forex broker, even if they do not accept US clients.

If you ask about is it worth it or not, I think the decision to choose the TMGM IRESS account as your trading account depends on various factors. So, I cannot say it is worth it or not! While the $10 commission may seem a bit high compared to the standard, it's crucial to consider the overall package.

Firstly, assess your own trading style and needs. If you're a frequent trader, the commission might have a more significant impact on your overall costs. However, if the platform offers advanced features, excellent execution speed, and a user-friendly interface, it could justify the slightly higher commission.

Additionally, take a close look at the accounts that offer free commissions on the IRESS platform. Evaluate whether the benefits, such as commission-free trading, outweigh the higher initial deposit requirement.

Consider your risk tolerance, trading strategy, and financial goals when making this decision.