TMGM Review

Initial Deposit: $100

Visit Site

Overview

Logo

Rating

Overall

Offering of Investments

Commissions & Fees

Platform & Tools

Research

Mobile Trading

Education

Deriv Review 2024

Initial Deposit: Depends on account type
Exness Review 2024

Initial Deposit: Depends on account type
Elitetraderfunding Review 2023 : Is it safe to trade?

Initial Deposit: $250
Coinex Review: Exploring Trading Options, Security, and Fees

Initial Deposit: $0
Phemex: A Secure and Advanced Cryptocurrency Derivatives Trading Platform

Initial Deposit: $0
Bybit Review: A Great Option for Crypto Trading
Bingx: The Ultimate Cryptocurrency Derivatives Trading Platform
Fidelcrest Review

79%

Trust score

Tradeable Symbols (Total): 12000

Year Founded: 2013

Publicly Traded (Listed): No

Bank: No

TMGM is not publicly traded and does not operate a bank. TMGM is authorised by two tier-1 regulators (high trust), zero tier-2 regulators (average trust), and one tier-3 regulator (low trust). TMGM is authorised by the following tier-1 regulators: the Australian Securities & Investment Commission (ASIC) and the Financial Markets Authority (FMA) – New Zealand. Learn more about Trust Score.

TMGM is considered average-risk, with an overall Trust Score of 79 out of 99.

Visit Site

Pros 👍🏻

Commission rates are competitive on the Edge account.
Minimum deposit starts at $100 for spread-only or commission-based accounts.
The TMGM Academy is an impressive educational tool that includes quizzes and interactive content, which I found to be excellent for beginners. The offering landed TMGM among Best in Class for beginners in our annual review.

Cons 👎🏻

MetaTrader 5 (MT5) has not yet launched at TMGM (coming in 2022).
The majority of available symbols are segmented on the IRESS platform which is not optimized for forex trading (and requires a $5000 deposit).

Description

Overview

TMGM, which stands for TradeMax Global Markets, is an online trading platform that provides access to a wide range of financial markets, including forex, commodities, indices, and cryptocurrencies. TMGM is headquartered in Australia and is regulated by the Australian Securities and Investments Commission (ASIC).

The platform offers a variety of trading tools and features, including advanced charting capabilities, multiple order types, and customizable trading indicators. TMGM also offers a range of educational resources, including webinars, trading guides, and video tutorials to help traders improve their skills and knowledge.

In addition to its online platform, TMGM offers a mobile trading app that allows traders to access the markets and manage their accounts on-the-go. The app is available for both iOS and Android devices.

Company overview

TradeMax Global Markets (TMGM) is an online trading platform that provides access to a range of financial markets, including forex, commodities, indices, and cryptocurrencies. The company was founded in 2017 and is headquartered in Sydney, Australia.

TMGM is regulated by the Australian Securities and Investments Commission (ASIC) and holds an Australian Financial Services License (AFSL). This means that the company is required to adhere to strict regulations and guidelines to ensure that it operates in a fair and transparent manner.

The platform offers a range of trading tools and features, including advanced charting capabilities, multiple order types, and customizable trading indicators. TMGM also provides traders with access to educational resources, including webinars, trading guides, and video tutorials, to help them improve their skills and knowledge.

TMGM account type

TMGM offers a range of account types to cater to the needs of different types of traders. Here are the main account types offered by TMGM:

Standard Account: This account type is designed for beginner and intermediate traders. It offers low spreads and no commissions, making it a cost-effective option for traders who are just starting out.
VIP Account: This account type is designed for experienced and professional traders who require advanced trading tools and features. It offers tighter spreads and lower commissions, as well as access to premium trading resources and support.
Islamic Account: This account type is designed for traders who follow Islamic principles of finance. It is a swap-free account that allows traders to hold positions overnight without incurring any interest charges.
Demo Account: TMGM also offers a demo account, which is a simulated trading environment that allows traders to practice trading without risking any real money. This account type is ideal for beginners who want to learn how to trade or for experienced traders who want to test their trading strategies.

Each account type has its own unique features and benefits, and traders can choose the one that best suits their trading style and goals.

TMGM spread

TMGM offers competitive spreads on a wide range of financial instruments, including forex, commodities, indices, and cryptocurrencies. The spreads offered by TMGM vary depending on the account type and market conditions.

For example, the Standard Account offers variable spreads starting from 1.0 pips for major forex pairs, while the VIP Account offers spreads starting from 0.0 pips for major forex pairs. The spreads for other financial instruments such as commodities and indices also vary depending on market conditions and liquidity.

It’s important to note that spreads are dynamic and can change quickly based on market conditions, such as volatility and liquidity. TMGM aims to offer its clients competitive and transparent pricing, which means that spreads may be subject to fluctuations during times of high market volatility or low liquidity.

Traders can check the current spreads for each financial instrument by logging into their TMGM trading account or by contacting customer support.

Trading platform

TMGM offers a comprehensive trading platform that is designed to meet the needs of traders of all levels. The platform is available in web, mobile, and desktop versions, and provides access to a wide range of financial instruments, including forex, commodities, indices, and cryptocurrencies.

Here are some of the key features of the TMGM trading platform:

Advanced charting: The platform offers advanced charting tools and indicators, allowing traders to analyze market trends and identify trading opportunities.
Multiple order types: Traders can choose from a range of order types, including market orders, limit orders, and stop orders, to help them execute trades more effectively.
Customizable interface: The platform is fully customizable, allowing traders to set up their own trading environment and personalize their trading experience.
Educational resources: TMGM provides a range of educational resources, including webinars, trading guides, and video tutorials, to help traders improve their skills and knowledge.
Risk management tools: The platform offers a range of risk management tools, including stop-loss and take-profit orders, to help traders manage their risk exposure.

Trading instrument

TMGM offers a wide range of trading instruments across several financial markets. Here are the main trading instruments available on the TMGM trading platform:

Forex: TMGM offers trading in a range of major, minor, and exotic currency pairs, such as EUR/USD, GBP/USD, and USD/JPY.
Commodities: Traders can trade a range of commodities, such as gold, silver, crude oil, and natural gas.
Indices: TMGM provides access to a range of global indices, such as the S&P 500, NASDAQ, FTSE 100, and Nikkei 225.
Cryptocurrencies: Traders can also trade a range of cryptocurrencies, such as Bitcoin, Ethereum, Litecoin, and Ripple.

Each trading instrument has its own unique features and benefits, and traders can choose the ones that best suit their trading strategies and goals. Additionally, TMGM offers competitive spreads and leverage on its trading instruments, allowing traders to maximize their trading opportunities while managing their risk exposure.

Commission

TMGM offers commission-free trading on its Standard Account, which means that traders only pay the bid/ask spread when they open and close trades. This makes it a cost-effective option for traders who are just starting out or who prefer to trade with no commission fees.

However, the VIP Account offered by TMGM charges a commission of $7 per lot traded in addition to a lower spread. This account type is designed for experienced and professional traders who require advanced trading tools and features.

It’s important to note that while commission fees can affect a trader’s overall profitability, they are just one factor to consider when choosing a broker. Other important factors to consider include the quality of customer support, the range of financial instruments offered, the trading platform features, and the regulatory oversight of the broker.

Leverage

TMGM offers leverage of up to 1:500 on its trading platform. The amount of leverage available varies depending on the financial instrument being traded and the account type. It’s important to note that while leverage can increase potential profits, it also increases the risk of losses.

TMGM fees

TMGM does not charge any deposit or withdrawal fees on its trading platform. However, traders may be subject to fees charged by their payment provider. For example, credit card companies or banks may charge fees for transactions or currency conversions.

In addition to deposit and withdrawal fees, some brokers may charge inactivity fees or other administrative fees. However, TMGM does not charge any such fees.

It’s important to note that while TMGM does not charge any fees for deposits or withdrawals, the payment provider used by the trader may charge fees or require a minimum deposit or withdrawal amount. Traders should always check with their payment provider to understand any fees or restrictions that may apply.

Overall, TMGM aims to provide transparent and competitive pricing to its clients, and traders can access a range of financial instruments with tight spreads and no hidden fees.

Desposit and withdrawal

TMGM provides a variety of deposit and withdrawal methods to its clients. Here are the main details:

Deposit methods: Traders can deposit funds into their TMGM trading account using a variety of payment methods, including credit/debit cards (Visa and Mastercard), bank wire transfer, and e-wallets such as Skrill, Neteller, and FasaPay. The minimum deposit amount varies depending on the payment method used, but it’s generally $50 or equivalent in the trader’s base currency.
Withdrawal methods: Traders can withdraw funds from their TMGM trading account using the same payment methods used for deposits. Withdrawals are processed within 24 hours on business days. TMGM does not charge any fees for withdrawals, but traders should check with their payment provider to see if any fees or restrictions apply.

It’s important to note that TMGM takes the security of its clients’ funds very seriously and uses SSL encryption to protect client data and funds. Additionally, TMGM only accepts deposits from accounts that have the same name as the trading account, and all withdrawal requests are subject to a thorough review process to ensure that they are legitimate.

TMGM customer service

TMGM offers a range of customer service options to its clients to ensure that they have access to timely and effective support whenever they need it. Here are the main customer service options offered by TMGM:

Live chat: TMGM’s website features a live chat function that allows clients to chat directly with a support representative in real-time. This is a convenient option for getting quick answers to general inquiries.
Email: Clients can email TMGM’s customer service team at support@tmgm.com with any questions or issues they may have. TMGM aims to respond to all emails within 24 hours.
Phone: TMGM offers phone support to clients in multiple languages. Traders can find the relevant phone numbers for their country on the TMGM website.
Knowledge base: TMGM’s website features a comprehensive knowledge base that includes articles and guides on various trading topics, including platform features, technical analysis, and trading strategies.
Social media: TMGM maintains a presence on various social media platforms, including Facebook, Twitter, and LinkedIn, where clients can connect with the company and stay up to date on news and promotions.

Overall, TMGM’s customer service is designed to be responsive, knowledgeable, and accessible, with multiple options available for clients to get the support they need.

TMGM final thought

In final thoughts, TMGM is a reliable and reputable online broker that offers traders a wide range of trading instruments, advanced trading platforms, and competitive pricing. The broker is licensed and regulated by reputable financial authorities, which provides clients with an added layer of security and trust. Additionally, TMGM offers responsive customer support and a variety of deposit and withdrawal methods to make trading as convenient and efficient as possible.

FAQ’s

Sure, here are some frequently asked questions about TMGM:

Is TMGM a regulated broker?
Yes, TMGM is a regulated broker. It is licensed and regulated by the Australian Securities and Investments Commission (ASIC) and the Vanuatu Financial Services Commission (VFSC).
What trading platforms does TMGM offer?
TMGM offers its clients access to MetaTrader 4 (MT4) and WebTrader trading platforms, as well as mobile apps for trading on the go.
What trading instruments are available with TMGM?
TMGM offers a range of trading instruments, including forex, CFDs, commodities, indices, and cryptocurrencies.
What are the deposit and withdrawal methods available with TMGM?
TMGM offers a variety of deposit and withdrawal methods, including credit/debit cards, bank wire transfers, and e-wallets such as Skrill, Neteller, and FasaPay.