It should be easy to make deposits and withdrawals from TMGM. But, you also need to pay attention to the payment methods, estimated duration, and fees incurred.

TMGM which stands for Trademax Global Markets is a global forex broker based in Australia and was established in 2013. The company is regulated by the Australian Securities and Investment Commission (ASIC) which is a top-tier regulating body, thus making TMGM a legit and safe broker that traders can trust. Furthermore, it is also regulated by the Financial Markets Authority in New Zealand and the Vanuatu Financial Services Commission (VFSC).

TMGM Deposits and Withdrawals

After registering with this broker, traders will need to make a deposit to get started with trading. The minimum deposit is $100 while the process of opening an account does not take long. Once a trader begins to make substantial profits, they can request a withdrawal. Therefore, traders need to understand how the deposit and withdrawal processes work at TMGM as well as the options that are available. This article will be serving as a guide on how traders can deposit trading capital and withdraw their profits from TMGM.

 

How to Deposit at TMGM

As earlier stated, the minimum deposit at TMGM is $100. The brokerage account can be funded in either AUD, GBP, USD, NZD, or EUR. The significance of this is that depositing using a major currency means there will be no need for conversion. However, if the deposit is done in a minor currency that TMGM does not support, conversion will be done and the trader will be charged a currency conversion fee.

For the deposit process itself, there are no fees charged by TMGM when traders make their deposits which means the broker will not be deducting anything when traders fund their brokerage accounts. The costs they will only need to be concerned with are those likely to be charged by the third party they are using to send the money into their brokerage accounts.

There are multiple options available to make deposits at TMGM and they include bank transfers, credit/debit cards, and electronic wallets. The processing time for the deposit options varies as it takes about 1-3 working days for bank transfers while it is instant for both credit/debit cards and electronic wallets.

Steps involved in making deposits at TMGM are as follows:

  1. Log in to your account and click on the Client area.
  2. Find 'Deposit' or 'Funding menu' and then your funding method.
  3. Provide the necessary information for the transaction.
  4. Review the transaction to check that the payment details are correct.
  5. Proceed to make a deposit as instructed.

 

How to Make Withdrawals from TMGM

Just like with deposits, there are also multiple options for withdrawals with bank transfers, credit/debit cards, and electronic wallets. It should be pointed out that withdrawal of funds can only be made to accounts registered in the trader's name.

Below are the steps involved in making withdrawals at TMGM:

  1. Access the Client area and look for Withdrawal.
  2. Choose your method for withdrawal and fill in the necessary information.
  3. Follow the on-screen prompts to complete your request for a withdrawal.

Withdrawing funds from TMGM is hardly instant and traders need to bear in mind that before withdrawals can be made, they will have to first close some of their trading positions. Usually, the process of withdrawal takes one day while the broker with no charge whatsoever from the broker's side.

Overall, the process of depositing and withdrawing at TMGM is quite straightforward. As long as the trader is aware of the necessary information, it will be quite easy to execute the process.

 


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.