TMGM Review
💲 Min Deposit $100
⌛ Year Established 2013
💼 Regulation
💡 Min Position 0.01 lot
🌐 Website www.tmgm.com
🌎 Country
⚖ Max Leverage 1:500
🗺 Vps
Pros
- Great educational tools
- Fast order execution
- Free demo accounts
- Swap-free for Mulim traders
- Tight spreads from 0.0 pips
Cons
- Inactivity fees charged
- Not available worldwide
- Minimum deposit of USD100
TMGM is a well-established broker since 2013. TMGM has headquarters in Australia, New Zealand, Vanuatu, China, European area, Hong Kong, India, Indonesia, Spain, Thailand, Turkey, United Arab Emirates, United Kingdom and Mauritius. TMGM to provide their Forex/CFD trading services to over 4 million clients.
This broker has also been regulated by ASIC 436416, FSP (New Zealand) 569807, VFSC 40356, The Financial Commission 22092022 and FSC (Mauritius) GB22201012.
TMGM, or Trademax Global Markets, is an Australia-based global forex broker founded in 2013.
Afterward, TMGM began to slowly grow to become one of the largest online trading platforms in the Australasia and Asia-Pacific region. Despite having its roots in Australia, TMGM is now ready to expand worldwide with a presence in more than 200 countries.
Even though Australia is not the market leader when it comes to trading, online brokers like TMGM are gradually looking to change that stereotype.
Unfortunately, TMGM has a limited product portfolio that includes CFDs and forex only. Lastly, there is no negative balance protection.
Extensive Review
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.
Account Information
Apart from the forex demo account, this broker offers Edge and Classic. To successfully navigate your trading account, you also need to consider about leverage and minimum deposit. Talking about leverage in general, the maximum leverage offered by TMGM is up to 1: 500. Meanwhile, you can open an account with a starting capital of $100.
TMGM currently offers only 2 trading account:
- Classic: Classic account requires a $100 minimum deposit and minimum trade volume of 0.01 lots. Fixed spreads are offered on this type. The account supports Expert Advisors, hedging and scalping, as well as advanced tools such as pending orders, trailing stop, one-click order, mobile trading, and automated trading.
- Edge: Minimum deposit requirements are $100 and 0.01 lots minimum order size. Key features of Edge account including scalping and hedging opportunity, Expert Advisors, trailing stop, pending orders, one-click trading, mobile trading, automated trading.
Min Deposit
$100
Max Leverage
1:500
Spread
Fixed
Commission
$3.50
If you want to look for a more simple explanation regarding this broker's account type(s), take a look at the following chart:
💲 Min Deposit $100
💡 Min Position 0.01 lot
🔢 Spread Fixed
📉 Scalping
🤖 Expert Advisors
💱 Hedging
⏱ Trailing stop
⏳ Pending orders
1️⃣ One-click trading
⚡ Automated trading
💸 Commission $3.50
Fees
Fees at TMGM are notoriously low compared to other brokers with relatively small forex and CFD trading fees. TMGM offers 0 pips on major forex pairs like USD/JPY, GBP/USD, and AUD/USD. Non-trading fees are also relatively low as the broker does not charge any withdrawal fees. However, you will be charged a $30 per month inactivity fee if your account balance drops below $500 or if it has been inactive for more than six months.
| Assets | Fee level | Fee terms |
|---|---|---|
| EURUSD | Low | Edge account: $3.50 commission per lot per trade plus spread cost. 0.1 pips is the average spread cost during peak trading hours. |
| GBPUSD | Low | Edge account: $3.50 commission per lot per trade plus spread cost. 0.3 pips is the average spread cost during peak trading hours. |
| S&P 500 CFD | Average | Edge pricing: The fees are built into the spread, 0.2 points is the spread cost during peak trading hours. |
| Inactivity fee | Low | $30 inactivity fee per month if your account balance falls below $500 or if it remains inactive for over six months |
Instruments Traded
Besides lots of currency pair, TMGM also offers some instruments you would like to trade on, such as Forex, Gold & silver, Stocks, Indexes and Crypto for your best choice. Somehow, remember that different instrument has different trading conditions. In this case, you have to make sure that your strategy is well suited for the instrument you chose.
TMGM provides clients trading opportunities in the following assets:
- 50 currency pairs
- 15+ global indices
- 12,000+ global stocks
- 3 metals
- 2 energies
As for Edge account, TMGM specifically provides it with the following instruments and leverage:
💲 Min Deposit $100
💡 Min Position 0.01 lot
🔢 Spread Fixed
📉 Scalping
🤖 Expert Advisors
💱 Hedging
⏱ Trailing stop
⏳ Pending orders
1️⃣ One-click trading
⚡ Automated trading
💸 Commission
Fees
Fees at TMGM are notoriously low compared to other brokers with relatively small forex and CFD trading fees. TMGM offers 0 pips on major forex pairs like USD/JPY, GBP/USD, and AUD/USD. Non-trading fees are also relatively low as the broker does not charge any withdrawal fees. However, you will be charged a $30 per month inactivity fee if your account balance drops below $500 or if it has been inactive for more than six months.
| Assets | Fee level | Fee terms |
|---|---|---|
| EURUSD | Low | Edge account: $3.50 commission per lot per trade plus spread cost. 0.1 pips is the average spread cost during peak trading hours. |
| GBPUSD | Low | Edge account: $3.50 commission per lot per trade plus spread cost. 0.3 pips is the average spread cost during peak trading hours. |
| S&P 500 CFD | Average | Edge pricing: The fees are built into the spread, 0.2 points is the spread cost during peak trading hours. |
| Inactivity fee | Low | $30 inactivity fee per month if your account balance falls below $500 or if it remains inactive for over six months |
Instruments Traded
Besides lots of currency pair, TMGM also offers some instruments you would like to trade on, such as Forex, Gold & silver, Stocks, Indexes and Crypto for your best choice. Somehow, remember that different instrument has different trading conditions. In this case, you have to make sure that your strategy is well suited for the instrument you chose.
TMGM provides clients trading opportunities in the following assets:
- 50 currency pairs
- 15+ global indices
- 12,000+ global stocks
- 3 metals
- 2 energies
As for Classic account, TMGM specifically provides it with the following instruments and leverage:
Payment Methods
Read here to learn about TMGM deposit and withdrawal below:
Deposit
| Method | Processing Time | Min Deposit | Currency | Fees |
|---|---|---|---|---|
| Visa | Instant | $100 | USD, EUR, GBP, AUD, NZD, CAD | $0 |
| Mastercard | Instant | $100 | USD, EUR, GBP, AUD, NZD, CAD | $0 |
| Revolut | 1 Working Day | $100 | USD, EUR, GBP, AUD, NZD, CAD | $0 |
| Wise | 1 Working Day | $100 | USD, EUR, GBP, AUD, NZD, CAD | $0 |
| Bank Transfer | 1-3 Working Day | $100 | USD, EUR, GBP, AUD, NZD, CAD | $0 |
| Neteller | Instant | $100 | USD, EUR, GBP, AUD, CAD | $0 |
| Skrill | Instant | $100 | USD | $0 |
| Union Pay | Instant | $100 | CNY | $0 |
| RMB Instant | Instant | $100 | CNY | $0 |
| Fasapay | Instant | $100 | USD | $0 |
| Broker to Broker | 3 Working Days | $100 | USD, EUR, GBP, AUD, NZD, CAD | $0 |
| Sea | Instant | $100 | MYR, THB, IDR, VND | $0 |
Withdrawal
| Method | Processing Time | Min Withdrawal | Currency | Fees |
|---|---|---|---|---|
| Bank Transfer | 1 Working Day | $100 | USD, EUR, GBP, AUD, NZD, CAD | $0+ Intermediary Bank Charges |
| Neteller | 1 Working Day | $100 | USD, EUR, GBP, AUD, CAD | $0 |
| Revolute | 1 Working Day | $100 | USD, EUR, GBP, AUD, CAD | $0 |
| Wise | 1 Working Day | $100 | USD, EUR, GBP, AUD, CAD | $0 |
| Skrill | 1 Working Day | $100 | USD | $0 |
| RMB Instant | 1 Working Day | $100 | CNY | $0 |
| Sea | 1 Working Day | $100 | MYR, THB, IDR, VND | $0 |
TMGM deposit and withdrawal fees are free. At TMGM, clients can fund their accounts using AUD, USD, EUR, GBP, or NZD.
However, clients can only deposit money from accounts with the same name. There is a $20-30 bank processing fee if you use bank withdrawals outside Australia. Bank transfers can take several business days, while credit/debit card payments are instant.
Similar to deposits, you can use bank transfers, credit/debit cards, and electronic wallets to withdraw funds from your account. To withdraw money from TMGM using a credit card takes 1 working day.
Besides bank transfer, funding your account is possible through:
Skrill : Mostly, all forex brokers provide Skrill as an online payment service option. Fast, easy, and safe transactions are the main reasons why traders using this method. Traders can use Skrill to fund their trading accounts with either payment cards, bank wire transfers, or directly from a Skrill e-wallet account.
Wire transfer : Wire Transfer is the most commonly used payment method. Nearly all brokers in the world provide this method on their service. The reason is wire transfer is basically traditional transfer between banks in the worldwide. So, this method is guaranteed for its safety. This really helps traders who avoid third-party payments or don't have credit cards.
Neteller : Like PayPal, Neteller is one of the most popular online payment services today. Due to this popularity, nearly all forex brokers accept Neteller as a payment method for their clients' fund deposit and withdrawal. Although the Neteller system is available almost all over the world, it remains particularly popular in Europe.
FasaPay : Known as an e-payment for retail forex traders, FasaPay does not require a huge amount of fee, giving it a competitive edge among any other e-payments in the forex brokerage industry. Instant process is also featured as one of its advantages.
TMGM also provides payment with UnionPay, Tether (USDT), Credit/debit cards and AliPay
Trading Platforms
Trading platform is a tool where you can buy or trade an instrument with only some clicks on your device, anytime and anywhere you want. In addition, price chart is also usually provided with some analytical tools to help you analyze the price movement, so you can increase your profitabiliy by placing well-planned trades.
Hereby, TMGM offers you MetaTrader 4, MetaTrader 5 and Social trading.
- MT4: With the best design and functionality, MetaTrader 4 is also available in multiple languages. The MetaTrader 4 TMGM desktop platform is almost the same as the web trading platform, but in TMGM, you can set price alerts.
- MT5: MetaTrader5 (MT5) is the successor to the MetaTrader4 platform offering several advanced options including additional chart time frames and order types, multi-currency strategy tester, a greater variety of trading tools, and depth of market (DOM) pricing.
 |
|
| Virtual Trading (Demo) | Yes |
| Proprietary Platform | Yes |
| Desktop Platform (Windows) | Yes |
| Web Platform | Yes |
| Social Trading / Copy Trading | Yes |
| MetaTrader 4 (MT4) | Yes |
| MetaTrader 5 (MT5) | No |
| DupliTrade | No |
| ZuluTrade | No |
| Charting - Indicators / Studies (Total) | 30 |
| Charting - Drawing Tools (Total) | 15 |
| Charting - Trade From Chart | Yes |
| Watchlists - Total Fields | 7 |
Unique Features
TMGM offers a variety of additional trading features such as:
- Access to TMGM Insights where experts screen thousands of stocks to build a portfolio to diversify funds into. Over 40 curated portfolios are available ranging from industries such as Solar Power to Smart Cars.
- Along with that, the inbuilt platform IRESS. Making IRESS a better choice over MetaTrader 4 if you plan to trade shares since IRESS allows you to trade on exchanges in the following countries: United States, Australia, The United Kingdom, Hong Kong, China, and Singapore.
- Every trading instrument is ranked by TMGM's proprietary Risk and Valuation Score, which may be used by all TMGM traders. This represents a helpful aid to quickly evaluate a trading instrument's investment risk.
- Free VPS (Virtual Private Server) hosting allows traders to run their trading platforms and expert advisors 24/5.
- Should you become a money manager, you can also enjoy the MAMM service. Clients can easily monitor and manage their positions along with adjusting their risk allocations. The dedicated account managers are equipped to provide clients with any assistance they may require, and clients can communicate in their preferred method: face to face, over the phone, emails, or any other messaging service.
- The VIP Desk helps traders in tailoring their trading accounts to meet their demands; whether it be specific pairs going through the different liquidity providers of your choice, the VIP desk provides you with a solution.
|
|
| Daily Market Commentary | ✔️ |
| Forex News (Top-Tier Sources) | ✔️ |
| Autochartist | ❌ |
| Trading Central (Recognia) | ✔️ |
| Social Sentiment - Currency Pairs | ✔️ |
Research and Education
Research and education resources offered at TMGM include:
- Lectures and webinars for beginners, alongside the private 1v1 VIP classes for intermediate to advanced traders looking to take their skills to the next level.
- For those of you just getting started with online trading, TMGM has made a fairly comprehensive library of articles and lectures available on the website covering all the core topics such as fundamental analysis, technical analysis, the different types of financial instruments and trading products, as well as overviews of basic trading strategies.
- The broker also provides some trader research from its social channels on Facebook and LinkedIn which are technical analysis articles and videos.
- Trading ideas through Trading Central, a third-party research provider. The ideas are based purely on technical analysis and cover FX pairs.
- Fundamental data through an economic calendar. You can filter for countries and data importance which is a useful tool for forex traders.
- Newsfeeds under the 'Market Buzz' section.
- You can use a great research tool for testing your strategy in relation to automated trading. It is called Strategy Tester and you can find it by clicking on 'View' and ing 'Strategy Tester'.
- There is the TMGM Academy which provides different levels of forex education and training materials, not only for clients of TMGM but to individuals who are looking to learn about forex. The academy has a choice of trading courses, depending on your experience level: beginner, intermediate, and advanced.
|
|
| Education (Forex or CFDs) | ✔️ |
| Client Webinars | ✔️ |
| Client Webinars (Archived) | ✔️ |
| Videos - Beginner Trading Videos | ❌ |
| Videos - Advanced Trading Videos | ❌ |
| Investor Dictionary (Glossary) | ✔️ |
Bonuses and Promotions
TMGM runs a global trading competition where users have a chance to earn cash with the pool prize of $148,500 for the top 16 best performing traders. However, ensure to read the bonus terms & conditions before accepting such offers.
Customer Support
Do you have any question or find any trouble related to TMGM? If you do, you should reach TMGM's support to get the information that you need. Here is the detail of the broker's customer support:
TMGM has good email and live chat support although it's only available 24/5. Phone support wasn't very helpful. However, TMGM has an excellent live chat feature so you can get quick and helpful responses.
TMGM chat supports more than 10 different languages including English, Chinese, Vietnamese, Portuguese, Spanish, Thai, Arabic, French, Indonesian, Italian, and Filipino. Since it's not available every day, if you have trouble on weekend, you'll have to wait until Monday.
Website Languages
Office Support
Email Support
Call Support
Chat Support
FAQ About TMGM
A good broker constitutes a good service for traders in terms of many criteria including trading instruments, deposits and withdrawals, as well as customer support. What is good for a certain trader does not necessarily mean the same thing to you. So the term "a good broker" can vary in meaning. You can decide for yourself if TMGM is a good broker for you or not by reviewing the criteria. In general, TMGM provides trading service in Forex , Gold & silver , Stocks , Indexes and Crypto . As for the payment methods, you can choose between Skrill, Wire transfer, Credit/debit cards, Neteller, UnionPay, AliPay, FasaPay and Tether (USDT). The customer support is available via Email, Phone and Live chat.
The starting capital in TMGM is $100.
TMGM is regulated by ASIC 436416, FSP (New Zealand) 569807, VFSC 40356, The Financial Commission 22092022 and FSC (Mauritius) GB22201012. A regulated broker equals a more responsible trading environment. You can also expect a more guaranteed safety of funds as some of regulatory frameworks in the financial industry require a compensation scheme in case of unprecedented incidents that result in clients' financial losses.
TMGM is a brokerage company offering trading services for clients since 2013 with offices in Australia, New Zealand, Vanuatu, China, European area, Hong Kong, India, Indonesia, Spain, Thailand, Turkey, United Arab Emirates, United Kingdom and Mauritius.
Feb 16 2023
Feb 3 2023
Feb 2 2023
Jan 30 2023
Jan 13 2023
Dec 26 2022
