Leverage: 1:30 | 1:500
Regulation: ASIC, FMA, VFSC
Min. Deposit: US$100
Platforms: MT4, MT5, IRESS
Found in: 2013
Leverage: 1:30 | 1:500
Regulation: ASIC, FMA, VFSC
Min. Deposit: US$100
Platforms: MT4, MT5, IRESS
Found in: 2013
TMGM, or Trademax Global Markets, is a Global broker offering traders access to CFDs in Forex, Metals, Energies, Indices, Shares, and Cryptocurrencies. At the beginning of the development, TMGM group started its operation in Australia back in 2013 when received its license from ASIC to provide OTC derivative and forex trading. Further on, for years of progress and continuous strives, the company brought a consistent and reliable DMA (Direct Market Access) trading environment without any human intervention.
Currently, the broker has spread its services across 150+ countries. While the main headquarter seats in Sydney, it holds several additional offices in Melbourne, Adelaide, Brisbane, Limassol, and Canberra, as well as regional offices in New Zealand and Taiwan.
TMGM is a reliable broker with good regulation and great conditions authorized by top-tier ASIC and FMA regulatory bodies. The broker provides an NDD trading environment with easy digital account opening. There’s a good range of trading education suitable for traders of all expertise levels, as well as Trading Central for enhanced research capacity.
As for the cons, the range of the market is rather limited trading only FX and CFD instruments, besides conditions and availability of the assets depend on the jurisdiction. Also consider, that it may charge fees for account inactivity. Another disadvantage is that international trading is done through an offshore entity.
|Established broker with multiple regulations||Only FX and CFD trading|
|Good reputation and a decade of operation||Conditions vary based on the entity|
|Low Spreads||Runs an offshore entity|
|Competitive trading conditions|
|Low forex fees|
|🗺️ Regulation and License||ASIC, FMA, VFSC|
|🖥 Platforms||MT4, MT5, IRESS|
|📉 Instruments||100+ currencies, Commodities, Indices, Futures, Cash DMA Stocks, Options, Bonds and ETFs|
|💰 EUR/USD Spread||0.1 pips|
|💳 Minimum deposit||US$100|
|💰 Base currencies||Multiple currencies|
|🎮 Demo Account||Provided|
|📚 Education||Vast range of online and offline educational support|
|☎ Customer Support||24/7|
Overall, TMGM is a reliable broker with a good reputation and optimum conditions suitable for beginner and experienced traders alike. The broker spreads its offerings across the globe making international trading accessible for all. Another advantage is the broker’s relatively low fees and the minimum deposit is in line with industry standards.
|Advantage||Trading Conditions||Market Range||Deep Liquidity|
However, we found some disadvantages too, broker’s market offering is limited to FX and CFDs only meaning that there’s no real trading of assets only speculations on the asset’s price movements. Also, the conditions vary depending on the entity, and international trading is conducted through offshore regulation. So we’d also recommend you look through alternative brokers as well:
No, TMGM is not a scam. The broker is well-established and regulated by several top-tier regulations ensuring traders’ safety and transparent conditions and transactions.
TMGM, or Trademax Australia Limited, is a financial services company regulated by the Australian Securities and Investments Commission (ASIC) which adheres to strict standards. The ASIC regulation is among the strictest authorities worldwide, which ensures stability and trustable maintenance guidelines for the protection of the client.
Also, there is a TradeMax Global Limited entity that falls under the laws of Vanuatu, an offshore zone. While generally, we do not recommend trading with offshore brokers due to lack of requirements, since TradeMax holds an additional reputable license it is considered safe to trade.
See our conclusion on TMGM Reliability:
|TMGM Strong Points||TMGM Weak Points|
|Multiply regulated broker with a strong establishment||Regulatory standards and protection vary based on the entity|
|ASIC and FMA regulated||Runs an offshore entity|
|Negative balance protection|
Along with that, there are numerous rules before a brokerage establishes among them are capital requirements that should meet the robust risk management and internal procedures, with sufficient cash equivalence that provides the broker’s reliability. All clients’ funds are held in a segregated trust account with National Australia Bank (NAB), as well the investors fall under the Professional Indemnity Insurance that places the compensation in case of the broker’s insolvency.
While trading Forex you are able to use leverage, which allows you to profit from the fluctuations in rates through multiplied trading size, compared to your initial balance.
TMGM available leverage will depend if you are trading from Australia/New Zealand or outside these countries.
Leverage is a loan provided to a trader by the broker with the possibility to multiply potential gains, however, we recommend you learn how to use the tool smartly and not involve yourself in the highest risk.
Based on our research, TMGM offers multiple trading accounts that provide you with the features and functionalities you need no matter what your trading experience level is. Whether you’re a long-term investor or a day trader, TMGM has a trading account designed for your needs. Users have the choice between a TMGM Classic account and a TMGM Edge account.
|Easy and quick account opening||Account types and proposals may vary according to jurisdiction|
|Demo Account available||Commissions charges for Edge Account|
|The proposal between Accounts based on spread only or based on commission|
If you can’t pay or receive interest due to your religious beliefs, TMGM also offers a Swap Free account. Swap-Free accounts are only available for Edge account types which means they have a $100 minimum deposit and a 0.01 lot minimum lot size.
TMGM offers a Demo account using the MetaTrader 4 trading platform. You can choose between three funding amounts for your demo account: $5,000, $10,000, and $50,000. However, your access will be removed if there is no activity for six months.
Overall, TMGM market offer comprises over 12,000 trading products available across 7 asset classes including forex, indices, shares, cryptocurrencies, precious metals, and energies with deep liquidity and tight spreads across all the assets.
Based on our research, TMGM pricings are either built into spreads or commission-based depending on which account type you choose. The prices are provided by multiple liquidity providers, spreads are low for almost all asset classes. The broker also doesn’t charge any deposit/withdrawal fees. there’s only an inactivity fee in case you don’t trade for more than six months.
|Fees||TMGM Fees||XM Fees||AvaTrade Fees|
TMGM’s Classic account type offers spreads from 1 pip. However, no commission fees are included, since they’re already part of the spread. The Classic account type is ideal for anyone who prefers to use mid or long-term strategies that aren’t spread-dependent.
By comparison, the TMGM Edge account offers the site’s lowest spreads, which start at 0 pips. Users will pay a $7 commission round turn ($3.50 one way) for each standard lot. The Edge account is the account that most closely resembles ECN trading since there is no dealing desk.
|Asset/ Pair||TMGM Spreads||Pepperstone Spread||AvaTrade Spread|
|EUR USD Spread||1||0.77 pips||1.3 pips|
|Crude Oil WTI Spread||1 pip||2.3 pips||3 pips|
|BTC USD Spread||3.2||31.39||0.75%|
Based on what we found, account funding on TMGM can be performed by multiple secure methods with zero transaction fees and includes BankWire transfers, Cards payments, PayPal, UnionPay, POLi, and fasapay. The account base currency is a choice of the trader, so it means all your transactions to and from the trading account will be performed with the chosen currency making it an easier process.
Here are some good and negative points for TMGM funding methods found:
|TMGM Advantages||TMGM Disadvantages|
|Fast digital deposits, including Neteller, and Credit Cards||Methods and fees vary in each entity|
|$100 minimum deposit|
|$0 deposits and withdrawals fees|
|Multiple Account Base Currencies|
As for deposit options, TMGM offers a good range of funding methods including Debit/Credit Cards, Bank Transfers, and multiple e-payment wallets. A bank transfer can take several business days, while payment with a credit/debit card is instant. However, you should check the availability of the methods according to the entity and country of residence.
Minimum deposits when opening an account start is $100 however higher amounts may be needed to execute a trade. This is because you will still need to meet margin requirements. The Classic account does not charge a commission, however, you’ll experience higher spreads. Comparatively, Edge accounts require a $7 commission fee with tighter spreads. Regardless of the account type you select, you’ll have ECN execution with a 0.01 minimum lot size.
TMGM Minimum deposit vs other brokers
|TMGM||Most Other Brokers|
TMGM uses the same funding options for withdrawals as for deposits. TMGM charges no fees for withdrawal. However, you should take into account the bank processing fee based on your bank’s terms and conditions.
To withdraw money from TMGM, you need to go through the following steps:
TMGM trading technology and software provide great performance with additional tools including, enhancing its technical capabilities. The broker offers three trading platforms: MetaTrader 4, MetaTrader 5, and IRESS, and it doesn’t provide any proprietary platform based on our findings.
Trading Platform Comparison to Other Brokers:
|Platforms||TMGM Platforms||Pepperstone Platforms||XM Platforms|
Along with that, the inbuilt platform IRESS. IRESS is a better choice over MetaTrader 4 if you plan to trade shares since IRESS allows you to trade on exchanges in the following countries – the United States, Australia, The United Kingdom, Hong Kong, China, and Singapore.
Another good point from TMGM is its quality customer support provided via Live, Email, and international phone calls. The support is multilingual and available 24/7. The support is knowledgeable and provides quick relevant answers to your queries.
See our find and Ranking on Customer Service Quality:
|Quick and relevant responses||None|
|Live Chat available|
In addition to customer support, we found that TMGM offers a unique feature called TMGM Academy. Through the TMGM Academy, you can learn about the ins and outs of forex trading. There are three stages available, Beginner Stage, Intermediate Stage, and Advanced Stage. It consists of three stages:
Our conclusion on TMGM Education:
Overall, our experience with the broker was quite positive. Throughout several years of operation, TMGM has proven itself as a good broker with a reputation, holding top-tier licenses from AISC and FMA. It provides transparent trading conditions with a state-of-the-art education section. The broker has a very competitive pricing model with low fees and spreads providing high leverage trading through industry-standard platforms. Overall, TMGM provides a really competitive offering as compared to other brokers.
Based on Our findings and Financial Expert Opinion TMGM is Good for:
No news available.