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More than a platform to execute orders, TMGM IRESS platform is tailored for professional trading experience that can be accessed by all retail traders.
When it comes to trading platforms, the most familiar thing that comes to your mind is probably the MetaTrader series, cTrader, or sometimes TradingView if it's for analytical purposes. But have you ever heard about IRESS?
The truth is, a few brokers have begun to offer this platform specifically for professional traders. That is due to the highly advanced features that the platform carries, starting from the charting tools to multiple portfolio management. One of the brokers that support such a platform is TMGM.
More than just providing IRESS as another platform to complement the MetaTrader offerings, TMGM goes further by creating 3 special accounts for IRESS traders.
What makes it so special? And how do you trade with it in TMGM?
An Institutional-Grade Platform
IRESS is basically a next-generation platform that is mainly operated on web browsers, making it easier to operate anywhere and anytime you want. TMGM brings this platform to offer the power of cutting-edge tools for retail traders. So, it can be said that you don't have to be an institutional trader to access a platform of their caliber.
TMGM IRESS platform woks on all browsers and supports real-time price streaming. Another advantage to this feature is that it allows access to genuine pricing and market depth.
Below are several key benefits of trading with an IRESS platform:
Sophisticated Interface
The modular structure of the IRESS platform enables you to customize your workspace based on information and data that you choose. Additionally, the templates help you to access the true market depth and all the details you need in just one single screen.
Tailored to Optimize Shares CFDs Trading
Apart from forex and commodity pairs, the TMGM IRESS platform boosts a competitive environment to trade shares CFDs from popular exchanges like the NYSE, NASDAQ, ASX, and HKEX. Each consists of 2000+ companies that you can choose from.
TradingView-Based Charting
As one of the most comprehensive trading platforms, the IRESS platform is even more powerful with the support of TradingView. With this collaboration, you could compare, add, and overlap various charts easily with the capabilities of the world's most popular chart.
Breaking News at Your Disposal
Is your strategy sensitive to every change in the market? If so, the IRESS platform could provide you with an advanced smart market articles filter. It presents you an opportunity to be updated with what's happening on the market as soon as the news hit the media.
See Also:
Available in 3 Account Types
To access the IRESS platform, TMGM arranges 3 account types with different minimum deposit requirements. Here are the details:
| Account | Standard | Premium | Gold |
| 💰Minimum Deposit | $5000 | $10,000 | $50,000 |
| 💻Platform Fee | $35 or AUD45 per month | Free (except for when you don't place any trades in a month) | Free (except for when you don't place any trades in a month) |
| 💸Data Fee (US) |
|
|
|
It's important to note that TMGM IRESS account based its live data on 6 different locations: the US, Australia, the UK, Hongkong, China, and Singapore. So, data fees and other commissions for each location would be different. The example above only displays what you could get from the US data. There will also be monthly fees and various periods that you need to pay attention to.
Therefore, it's probably best to wisely choose your data location that fits your strategy. That way, you won't have to waste any commissions on market data that you don't really need.
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.
22 Comments
Laura
Jan 5 2023
Gleen
Jan 5 2023
kenny
Jan 5 2023
Blanco
Jan 5 2023
Denny
Jan 5 2023
Gleen
Jan 5 2023
- How are you protected if something goes wrong? Your account will be protected by one of these three legal entities from TMGM.
- 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
Jan 5 2023
kenny
Jan 5 2023
Anrez
Jan 5 2023
Darrel
Jan 5 2023
Tuhin Chy
Apr 12 2023
@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.
Aiyan Khan
Apr 12 2023
Can you provide a comprehensive overview of the features and functionalities of the IRESS platform offered by TMGM, including its advanced charting and analysis tools, market data and news feeds, order management capabilities, and integration with third-party trading tools and APIs, and how it compares to other popular trading platforms in terms of usability, customization, and overall user experience? Additionally, how does TMGM ensure the security and reliability of the IRESS platform for its clients, and what support and resources are available to help traders effectively navigate and utilize the platform to their advantage?
Phil Khun
Apr 28 2023
TMGM broker completes the offering of the MetaTrader suite of platforms with support for multiple social trading platforms, content powered by Trading Central, and a proprietary mobile app. Copy that which really amazed me with this broker, they provide the IRESS Platform for their clients. And, as far as I know, brokers rarely provide this platform, only certain brokers, including TMGM. TMGM follows industry leaders in key areas such as research and education.
Opening an account at TMGM is a very rewarding experience because the process is very fast (less than 5 minutes) and completely digital. The broker offers a variety of deposit and withdrawal options and most of them are free of charge. Customer service could be better, especially the relevance of the email responses. Finally, TMGM provides protection for its traders, as well as investors under Professional Indemnity Insurance which places compensation in the event of a broker bankruptcy.
However, since very few offer the IRESS platform, can you explain the difference between the MetaTrader and IRESS platforms? Should I choose IRESS for my trading platform? Also, I'm quite curious about what payment options are available at FXOpen? sorry, guys, even though it's a little off topic, this can also be one of my considerations in choosing the right trading broker.
Gavriil
Apr 29 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.
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.
Zee Pho
Apr 27 2023
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.
Bondevik
Sep 2 2023
TMGM offers a feature called "TradingView Integration", which allows you to connect your Pepperstone account with TradingView. This means you can place trades, manage your positions, and even access advanced order types, all within the TradingView interface. What are some effective trading strategies that I can use on TradingView with my TMGM account?
Kalla Jane
Sep 3 2023
In general, you can say the strategy can you use is same as another trading platform, which is:
Fahad J
Sep 6 2023
Hey, I have to say that I really dig TMGM as a trading platform. I mean, they have some killer features that I'm really tempted to, especially in terms of their leverage, which is actually higher than what's allowed in my own country, the US.
So after reading this article, I decided to give their demo account a try. I trained with him for several months and finally felt ready to open a live account. I followed all the steps outlined in the article, but when I tried to open a live account, it was rejected. I was disappointed and finally contacted TMGM customer support.
They explained to me that they do not accept US traders. I was a bit confused because they let me open a demo account in the first place, but didn't let me open a live account. Do you know why this is? What's the problem with TMGM not accepting US traders?
Vangance
Sep 7 2023
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.
Blanco
Sep 10 2023
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.
Solaina
Nov 27 2023
I've got a keen interest in delving into the world of trading and learning the ropes, brokers included. Despite my enthusiasm, I haven't taken the plunge into trading just yet. The article I came across sheds light on TMGM's IRESS account, mentioning a commission of around $10. Now, I'm aware that the standard commission fee typically hovers around $7 per lot. It seems like the commission offered by TMGM's IRESS account is a tad on the higher side compared to other brokerage accounts.
Interestingly, there are accounts within this setup that boast free commissions on the IRESS platform, but here's the kicker – the initial deposit is significantly steeper, about five times that of the standard account. Now, the big question: Is the TMGM IRESS account a worthy choice for a trading account?
Edianto
Nov 30 2023
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.