Complete TMGM Review 2022

TMGM (Trademax Global Markets) is a broker established in Australia that is regulated by world-class financial organizations. The company specializes in FX trading, but it also provides stock and commodities CFDs. This 2022 assessment examines TMGM's primary strengths and drawbacks, as well as crucial information about fees, platforms, account kinds, and laws.

Headlines from TMGM

TMGM is a worldwide FX and CFD broker established in Australia. The firm was created in 2013 as TradeMax, but it has been doing business as TradeMax Global Markets (TMGM) since 2020.

The broker has a presence in over 150 countries. Its headquarters are in Sydney, and it has regional offices in New Zealand, Vanuatu, Taiwan, Limassol, and the Philippines, as well as offices in Melbourne, Brisbane, Adelaide, and Canberra. Lee Yu is the company's CEO.

TMGM's total platform trading volume reached $195 billion in 2020, placing it among the top 10 forex brokers in the world by trading volume. The broker joined together with the Australian Open Tennis Tournament and legendary Italian goalie Gianluigi Buffon in 2021.

Assets

TMGM is mainly a forex broker, but it also provides a variety of other CFD instruments such as cryptocurrency, shares, indexes, energy, and metals. More than 10 tier-1 liquidity providers, as well as the NY4 and TY3 Equinix Servers, provide liquidity and quick execution.

Forex: More than 50 currency pairings, including popular majors such as USD/EUR, USD/JPY, and AUD/USD.

Index of Stocks CFDs: More than 15 worldwide markets, including the S& P 500, DAX 30, and FTSE 100, are represented.

CFDs on stocks: More than 12,000 NYSE, Nasdaq, ASX, and HKEX equities

Precious Metals: TMGM provides customers with access to a variety of popular metals, such as gold, silver, and platinum.

Energies: CFDs on crude oil and natural gas may be used to diversify a user's portfolio.

Cryptos: TMGM provides CFDs on 12 major crypto tokens, including Bitcoin, Ethereum, and Litecoin, against the USD.

Trading Platforms

MetaTrader 4 (MT4), MetaTrader 5 (MT5), and IRESS are the three trading platforms offered by TMGM.

MetaTrader 4 (MT4)

MT4 is one of the most popular trading systems available. It has all of the major features and is appropriate for both rookie and expert investors. Users of MT4 may access nine timeframes, over 2,000 technical indicators, and 1,700 trading robots. Expert advisors (EAs) and MT4's automation features contribute to the platform's popularity. Although MT4 is useful for FX trading, it does not provide access to the entire selection of CFD shares offered by TMGM.

MetaTrader 5 (MT5) (MT5)

MetaQuotes Platform 5 (MT5) is the next generation of MetaQuotes platforms. While the platform is comparable to its predecessor, MT4, it offers a few more sophisticated features and some fundamental performance improvements. Additional periods, a broader range of instruments, and depth of market (DOM) pricing are among them.

IRESS

IRESS is a sophisticated trading platform that is compatible with all browsers. The program is intended for expert traders, and as such, there are extra costs and a $5,000 minimum deposit requirement. Access to TMGM's entire range of CFD shares, Direct market access (DMA), and real-time price streaming for US users are just a few of the benefits of the IRESS platform. The site has a highly configurable modular interface with over 50 indicators and extensive graphing capabilities through TradingView.

App for Mobile

Mobile applications for MT4 and MT5 are also available for download for Android and iOS smartphones. The applications are dependable and user-friendly, with access to the majority of the features and functionality found in the desktop and web-based versions. Some graphing and analytic tools, however, are not available, and automation through APIs must be configured using the desktop client.

Learn more about WikiFX Expert Advisors and how they may assist you with your trading journey.

Fees and Account Types

You must choose your account type before signing up for TMGM. There are various options available, each catering to a particular set of methods and expertise levels. To assist you in making your decision, we have broken down each account type below:

Classic

The traditional account is already accessible on MT4 and will be available shortly on MT5. There is a $100 minimum deposit. The classic account has no commission costs and spreads start at 1.0 pips. Users may trade a wide choice of FX pairings, commodities, and indices.

Edge

For Muslim customers, TMGM provides a swap-free account. It is only accessible on Edge accounts and does not receive or pay interest or swap costs on overnight holdings. Certain instruments include a tiny financing cost, which usually varies between $10 and $20. The financing price for EUR/TRY and USD/TRY, on the other hand, is $100.

Clients from Azerbaijan, Bangladesh, Burkina Faso, Bahrain, Brunei, Brunei Darussalam, Algeria, Egypt, Guinea, Indonesia, Jordan, Kyrgyzstan, Kuwait, Morocco, Mauritania, Maldives, Malaysia, Niger, Oman, Pakistan, Palestinian Territory, Qatar, Sierra Leona, Chad, Tajikistan, Turkmenistan, Tunisia, Turkey, Uzbekistan, and Kosovo can open this account.

Accounts for IRESS

The IRESS platform is supported by three account types:

Standard

Only IRESS accounts have access to TMGM's entire range of CFD shares. The basic account has a $5,000 minimum deposit. There is a monthly platform cost of USD 35/AUD 45, which is waived if ten or more transactions are executed each month. The commission rate is 2.25 (cps), with a $10 minimum commission payment. The deal size is limited to 333 shares.

Premium

The minimum deposit for a premium account is $10,000, and there is no platform fee; however, if no trades are done in a month, costs will be imposed. There is no minimum commission or deal size, and the commission rate is 2 (cps).

Gold

The minimum deposit for the gold account is $50,000. There are no platform charges, and the commission rate is 1.8 percent (cps). Fees will be levied if no trades are done in a month, just as with the other accounts.

If your account balance goes below $500 or no trades are performed in six months, your TMGM account will be charged a $30 inactivity fee each month.

Account Demo

TMGM provides demo accounts for the MT4 platform. You have three financing options: $5,000, $10,000, and $50,000. You will have 365 days to use the demo account, but if there is no activity for six months, you will lose access. Unfortunately, the IRESS platform does not have a practice account, thus you cannot try it before buying it.

VPS Provider

Through a relationship with ForexVPS, TMGM provides a comprehensive VPS solution. This is a dependable option for customers that use EAs and signals on MT4. The basic VPS service is free for new customers, however, a $3,000 minimum deposit is needed. This allows you to operate three MT4 platforms at the same time with a latency of 1ms and a guaranteed uptime of 100 percent. A $20,000 payment is needed for the high-frequency VPS service.

Making a Deposit

Signing up with TMGM is a reasonably simple procedure that is digital.

You will be required to provide contact and personal details. This comprises a phone number, email address, date of birth, and address. You'll also need to establish a password that you'll use every time you visit the broker's website.

Select an account type and a base currency. You have the option of using USD, EUR, GBP, AUD, NZD, or CAD.

Before you may trade, you must verify your identity and address by uploading a copy of your passport/ID as well as a bank statement or utility bill.

The online application takes around 15 minutes to complete, and approval is normally granted within one business day.

TMGM Bonuses

By creating an account, you will instantly become a member of TMGM Rewards. This is a point-based loyalty program that gives consumers 10 points for each lot exchanged. Apple products and rebates up to $2,500 are among the rewards starting at 600 points.

TMGM Rewards are offered in several Asian, African, and Eastern European countries.

Leverage

Leverage limitations are established by the ASIC if you trade with TMGM in Australia. The maximum leverage for FX pairings is 1:30 for majors and 1:20 for minors. This is consistent with authorities in the United Kingdom and Europe. Professional traders in Australia have access to leverage of 1:400 for both major and minor currency pairs.

The FMA has authority over traders in New Zealand. Leverage is limited to 1:200 for currency and precious metals and 1:100 for indices and energy by this agency. Outside of Australia and New Zealand, traders may utilize up to 1:500 leverage.

It is critical to remember that employing leverage is effectively borrowing money from your broker. While it increases your exposure, it may also result in exaggerated losses.

Withdrawals and Deposits

As previously stated, each TMGM account utilizing MT4 requires a minimum deposit of $100. The minimum deposit on the IRESS platform is $5,000.

TMGM accepts bank wire transfer, debit and credit cards from Visa, MasterCard, and UnionPay, as well as the e-wallets Skrill, Neteller, SticPay, FasaPay, POLi, RMB Direct Pay, and Revolut. There is a $100 minimum withdrawal. Withdrawals may be done using any of these ways at no cost.

TMGM has been reported to provide new trading clients with a $50 no deposit bonus (NDB). These specials are time-sensitive, so be sure to check the broker's website for the most up-to-date terms, conditions, and information.

Customer Service & Education

TMGM provides customer service through live chat, email, and phone. This is accessible twenty-four hours a day, seven days a week. On weekends, TMGM help is unavailable. The live chat option is quite active, with quick response times. The reps are well-versed in a variety of languages, including English, Chinese, Vietnamese, Portuguese, Spanish, Thai, Arabic, French, Indonesian, Italian, and Filipino.

Email answers from a helpful member of the team are normally received within 24 hours, however, telephone assistance is less dependable.

Contact us at support@tmgm.com.

Phone number: +61 2 8036 8388

The company is active on YouTube, Facebook, Twitter, Instagram, and LinkedIn, where it posts news, lessons, and employment opportunities such as internships regularly. Gianluigi Buffon, a brand ambassador, offers free online seminars regularly.

TMGM also has a training program called TMGM Academy. The school is a three-stage education program that takes new traders from the fundamentals of trading to more complex tactics like moving averages and Fibonacci extensions.

The firm is known to hold trading contests that last three months. The leader board is updated daily, and the trader with the highest position after three months will be paid from a fund of up to $100,000. The website contains the whole set of regulations and terms and conditions.

Regulation & Security

The Australian Securities and Investments Commission regulates Trademax Australia Limited (ABN 76 162 331 311), trading as TMGM (ASIC). The ASIC is a top-tier regulator that collaborates with the Australian Financial Services Authority to defend customers' interests and rights. According to ASIC procedure, all TMGM customers' money is stored in separate accounts.

For New Zealand traders, TMGM has a derivatives license from the Financial Markets Authority (FMA). The Vanuatu Financial Services Commission authorizes and regulates TMGM TradeMax Global Limited (registration number 40356), trading as TMGM (VFSC). This service is available to people and corporations from all around the globe. Please keep in mind that US customers are not welcome. ASIC, FMA, and VFSC do not offer investment protection, which means you will not be compensated if the company goes bankrupt.

TMGM's Advantages

• Multi-regulated VPS for free

• Low transaction costs

• Transactions are free.

• Access to MT4 and MT5

• A fantastic selection of CFDs.

• Various payment options

• Tournaments, incentives, and rewards

TMGM's Drawbacks

The minimum deposit is rather high.

There is no investment protection.

Inactivity cost of $30

TMGM's Decision

TMGM provides great transaction execution, minimal costs, and a vast array of CFD products such as forex, equities, cryptos, indices, and commodities. There is little TMGM does not supply, with competitive trading platform solutions integrating MT4, MT5, and the firm's superior custom platform, as well as many rewards and incentive programs and a free VPS. If you're interested, you should try out the broker's MT4 demo account to see what services, assets, and features are available.

TMGM Countries Accepted

TMGM welcomes traders from Australia, Thailand, Canada, the United Kingdom, South Africa, Singapore, Hong Kong, India, France, Germany, Norway, Sweden, Italy, Denmark, the United Arab Emirates, Saudi Arabia, Kuwait, Luxembourg, Qatar, and the majority of other nations.

Traders from the United States are not permitted to utilize TMGM.

TMGM Alternatives

If you are seeking brokers that are similar to TMGM, we have produced a list of the best 5 brokers below. This list of brokers similar to TMGM is organized by similarity and only contains firms that accept traders from your area.

FP Markets — FP Markets is a multi-asset broker that offers many trading platforms.

FBS - FBS is a leading online broker that provides MT4 and MT5 trading across a wide variety of instruments.

Admiral Markets - Admiral Markets is a renowned Forex and CFD broker that offers the MT4 and MT5 trading platforms.

Avatrade - is a leading FX and CFD broker that is licensed in Ireland, Australia, Canada, and South Africa. Avatrade is very good in terms of integration, including MT4

FXOpen - FXOpen is a highly regulated FX & CFD broker with numerous trading platforms.

TMGM FAQS

Is TMGM a regulated company？

Yes, TMGM is a reputable broker that is regulated by the ASIC in Australia, the FMA in New Zealand, and the VFSC in Vanuatu. With top-tier regulations like this in place across the world, you can be certain that TMGM is not a fraud.

Is an Islamic account available from TMGM？

Yes, TMGM provides a swap-free account with no interest charges on overnight holdings. This is only accessible with the Edge account type, and certain instruments may incur a financing cost.

Is TMGM the right fit for me？

If you trade forex, TMGM's fees are often cheap and comparable to rivals such as Pepperstone and Fusion Markets. There are no deposit or withdrawal fees, and a variety of payment options are accepted.

What Is the TMGM Minimum Deposit？

The TMGM Classic and Edge accounts utilize MetaTrader 4 and 5 and need a $100 minimum deposit. The sophisticated IRESS platforms need a $3,000 deposit.

What Payment Methods Does TMGM Accept？

There are various options for depositing and withdrawing funds from your TMGM account. Wire transfers, credit and debit cards, RMB Direct Pay, POLi, Neteller, Skrill, UnionPay, Fasapay, and Sticpay are among them.

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