TMGM Review
What is TMGM?
Global broker TMGM offers traders access to CFDs in Forex and Metals as well as Energies, Indices and Shares. TMGM Group was established in Australia in 2013, when it received its license. ASIC license to offer OTC derivatives and forex trading . The company continued to make steady and positive progress over the years. Trading environment with DMA (Direct Market Access), that is reliable Without any human intervention.
Minimum deposit: 100 US$
Leverage: 1:30 | 1:500
Regulator: ASIC FMA, VFSC
Year: 2013
Platforms: MT4, HTML5 and IRESS
HQ: Australia
TMGM Licence:
Trademax Australia Limited - authorized by ASIC (Australia) registration ABN 76 162 331 311 AFSL 436416
Trademax Global Markets Limited (NZ), authorized by FMA (New Zealand), registration No. 569807
Trademax Global Limited - Authorized by VFSC (Vanuatu), registration number. 40356
Overview
TMGM (Trademax Global Markets) is an Australian-based broker that is regulated by top-tier financial watchdogs. The firm deals primarily with forex trading but also offers a range of equity, commodity and crypto CFDs.
Pros
Free VPS
Multi-regulated
Low trading fees
Free transactions
MT4 & MT5 access
12,000 trading products
Multiple payment methods
HUBx copy trading solution
Rewards, bonuses and tournament
Cons
$30 inactivity fee
$100 minimum deposit
Shares only available on IRESS accounts
Rating of the company overall
Reliability ⭐⭐⭐⭐
Platform ⭐⭐⭐⭐⭐
Commissions ⭐⭐⭐⭐
Support ⭐⭐⭐⭐
Financial instruments ⭐⭐⭐⭐
RATING: 4.3
Is TMGM a fraud or safe?
TMGM is a safe broker for trade because of its regulatory status. Trademax Australia Limited, a financial service company regulated under the Australian Securities and Investments Commission, adheres to strict standards. ASIC regulations are among the most stringent worldwide. They ensure stability and trustworthy client protection.
A TradeMax Global Limited entity is also available that falls under Vanuatu's laws, which are an offshore zone. Although we don't recommend trading with offshore brokers because of the lack of requirements, TradeMax holds an additional license that is trusted and it is safe to trade.
What can you do to be protected?
There are many rules that brokerage must follow before it can establish capital requirements. These should be in line with robust risk management and internal procedures. They also need sufficient cash equivalence to ensure broker's reliability. All client funds are kept in a trust account at National Australia Bank (NAB). The investors that fall under the Professional Indemnity Insurance which covers the compensation for the broker's insolvency.
Leverage
Leverage allows you to make money from fluctuations in forex rates by trading with a multiplied trading volume, as opposed to your initial balance. The broker may lend leverage to traders to increase potential gains. However, it is important to learn how to use the tool well and not take on the greatest risk.
The amount of leverage available will vary depending on whether you trade from Australia/New Zealand, or elsewhere.
ASIC regulates TMGM in Australia. The maximum leverage allowed for Major forex pairs is 1:30, while the limit for Minor forex pairs is HTML20. This is consistent with European and UK regulators. If you are a professional trader on TMGM, these numbers jump to 1:1400 for Major and Minor forex pairs.
FMA regulates TMGM in New Zealand. Forex leverage maximum is 1:30
If you trade with TMGM but are not a resident of these two countries, the maximum leverage for forex trading is 1500.
Types of accounts
TMGM offers many trading accounts that provide the functionality and features you require, regardless of your trading experience. TMGM offers a variety of trading accounts to suit your needs, whether you are a long-term investor and a day trader. You can choose between a TMGMCast or a TMGM Edge account .
Swap-free account
TMGM offers a Swap-Free account if you are unable to pay interest or pay your deposit due to religious beliefs. Swap-free accounts are available only for Edge account types. They have a $100 minimum deposit, and a 0.01 lots minimum lot size.
Demo Account
TMGM offers demo accounts that allow you to trade before you sign up for an account. You can practice trading with virtual money, which allows you to familiarize yourself more fully with the broker's services and features. This allows you to learn as much about TMGM as you can before you open a trading account.
The MetaTrader 4 trading platform allows demo accounts to have access for 365 days. Your access to the platform will be terminated if you have not been active for six consecutive months. Your demo account can be funded with one of three amounts: $5,000, $10,000 or $50,000.
Fees
The Classic account type of TMGM offers spreads starting at 1 pip.There are no commission fees as they're already included in the spread. If you prefer to use long-term strategies that don't depend on spreads, the Classic account type is for you. The following are some of the Classic account features:
No commission
Minimum 0.01 lot size
Execution of ECN
Hedging and scalping permitted
No cost funding
Base currencies are: USD, CAD and EUR.
The TMGM Edge account has the lowest spreads and starts at 0 pip.Users will be charged a $7round turn ($3.50 each way) for each standard lot. Because there is no dealing desk, the Edge account most closely mimics ECN trading. ECN pricing is possible because spreads are sourced directly from liquidity providers without any interference by TMGM. This account type is ideal for traders who want the tightest spreads possible.
Deposit and Withdrawal Options
Multiple secure payment methods are available to fund your account. These include no transaction fee and include BankWire transfers and Cards payments. Also, UnionPay, POLi, PayPal and Fasapay. It is the choice of the trader. This means that all transactions to and from your trading account will be made in the chosen currency, making it easier.
What is the minimum deposit required to purchase TMGM?
The minimum deposit required to open an account is $100. However, trades may require higher amounts. You will still have to meet margin requirements. Although the Classic account doesn't charge a commission you will experience higher spreads. Edge accounts, on the other hand, require a $7 fee for commissions and have tighter spreads. No matter what account type you choose, ECN execution will be available with a minimum lot size of 0.01.
Minimum deposit vs. other brokers
Trade Platforms
The group has many subsidiaries that offer a wide variety of products to suit different trading preferences. There are 100+ currencies, Commodities and Indices, Futures and Futures, Options and Bonds, as well as futures, options, stocks, and cash DMA stocks. All of these products can be accessed through the trading platform. The most popular MT4 is available via PC, Mobile, and Web versions.
Desktop Platform
The inbuilt platform IRESS is also available. IRESS is a better option than MetaTrader 4, if you intend to trade shares. IRESS allows for trades on exchanges in the United States, Australia and the United Kingdom.
Direct Market Trading
IRESS also offers market depth and exchange pricing. Direct Market Access (DMA), trading is used by IRESS. DMA is Level 2 Market Depth Book Pricing. This means that you can view live orders from institutional liquidity suppliers connected to the exchange. MetaTrader 4 doesn't offer DMA.
You should be aware that the minimum deposit fee is $5,000 USD. IRESS is only for serious traders. You will need an IRESS Account to use IRESS. Because DMA trading is primarily for professionals traders, there are no minimum deposits required for IRESS. There will be a wide range of costs depending on the stock exchange. Below are the costs for US stock markets.
Education
TMGM Academy is a special feature that TMGM provides in addition to its customer support. The TMGM Academy teaches you all about forex trading. There are three levels: Beginner Stage (Intermediate Stage), Intermediate Stage, or Advanced Stage. It is composed of three stages:
This stage prepares you for forex trading. The Beginner Stage provides a solid foundation, including understanding margin trading and how to read different types of charts. It also introduces trading instruments, oscillators and indicators.
The Intermediate Stage of TMGM Academy focuses on technical aspects of forex trading. This includes indicators such as MACD, RSI and ATRs. TMGM also introduces Fibonacci analysis and Fundamental analysis. It also demonstrates effective ways to use them in trading.
The Advanced stage in the TMGM Academy allows traders to dive into different trading strategies and learn how they can be applied. This stage teaches advanced Fibonacci extensions, retracements, correlation and trade management.
Conclusion
The TMGM review found that the brokerage Group was reliable and compliant with regulations. TMGM also maintained safe trading operationsin accordance to ASIC's strict requirements. Investors are therefore protected by many measures.