Cookies are used at this website. By continuing to browse it, you agree with our Cookie Policy.

TMGM review and ratings

Established 2013
Location Australia Vanuatu
Regulation ASIC, VFSC
Offices Sydney, Melbourne, Adelaide, Canberra, Port Vila
Broker type STP | ECN
Leverage up to 1:500
Deposit from 100 USD
Spreads low  low
Platforms Web MetaTrader 4 MetaTrader 5 Specific
Instruments Currencies Indices Metals Energies Softs Stocks
Funding methods Wire Transfer Credit Cards Skrill Neteller FasaPay UnionPay POLi SticPay Alipay

Company information

TMGM group includes 2 related companies.

TMGM AU - located in Australia, regulated by the Australian Securities and Investments Commission (ASIC).
TMGM VU - located in the Republic of Vanuatu, regulated by the Vanuatu Financial Services Commission (VFSC).

Unfortunately, AU company has been imposed with trading leverage limitations by ASIC since the end of March 2021.
At the same time, VU company is free from such restrictions.

Availability

TMGM group accepts clients from all over the world, excluding USA and some OFAC sanctioned countries.

Distinctive features

Trading instruments

Forex broker offers the following underlying assets for trading.

60+ Currency Pairs Based on major and minor world currencies.
12 Indice CFDs Based on baskets of different blue-chip stocks.
3 Metal CFDs Based on Gold, Silver and Platinum.
2 Energy CFDs Based on Crude Oil (WTI, Brent).
5 Soft CFDs Based on Cocoa, Coffee, Cotton, Orange Juice and Sugar.
8900+ Stock CFDs Based on shares of AU, US and HK companies.

Most of the Stock CFDs are available on the IRESS trading platform.

Comprehensive review

Headquartered in Australia, TMGM - officially known as Trademax Global Markets - is a forex broker that offers high leverage trading in popular forex pairs and CFDs based on commodities, stock indices, and a very large selection of thousands of single stocks.

Besides its head office in Sydney, Australia, TMGM also maintains offices in Melbourne, Adelaide and Canberra in Australia, as well as overseas offices in Taiwan and Vanuatu. The broker is regulated by Australia’s ASIC for domestic clients, while most international clients will be trading under the offshore branch regulated by the Vanuatu Financial Services Commission (VFSC).

The trading platforms offered to TMGM clients include both MetaTrader 4 and 5, as well as the web-based IRESS platform. And while both MetaTrader platforms are already very well known among forex traders, IRESS, which caters more to stock traders, is perhaps less known in the community. However, the platform offers several benefits, with the most notable being integration with the popular TradingView charts and all the technical analysis tools that come with that.

Before the sign-up process can begin, all new TMGM clients will be asked to choose whether they want to trade with the commission-based Edge account, or with the commission-free Classic account. As always, high volume traders will be better off trading with an account with commissions and tight spreads, while smaller traders should choose the commission-free account type with wider spreads.

All in all, TMGM’s spreads and commissions are fairly reasonable, with commissions of USD 7 per round-turn on the Edge account, and spreads from 1 pip on the commission-free Classic account.

Once signed-up, traders can fund their new account through a variety of payment methods. This includes major payment cards like Visa, MasterCard, and UnionPay, as well as the e-wallet platforms Skrill, Neteller, FasaPay and SticPay. In Australia, the local payment service POLi is also available, while clients from China have the option of using AliPay to fund their trading account.

Both deposits and withdrawals are handled free of charge by the broker, but it’s worth noting that both operations require a minimum amount of USD 100. Further, deposits and withdrawals can be made in one of the five currencies USD, EUR, GBP, AUD, or NZD.

For any customer service needs, TMGM clients will be able to contact the broker via email, phone or live chat. We are also happy to see that TMGM is among the brokers that offers support 24 hours a day on all trading days.

All in all, TMGM offers a great selection of stocks in particular, which are all tradeable on the IRESS platform. This is a popular and modern platform especially designed for stock traders, and with integrated TradingView charts we believe it could be a great choice for those relying on chart analysis. Other than stocks, however, the selection of instruments offered by TMGM is somewhat limited, with for instance only a few commodities and no cryptocurrencies offered for trading. This is one of the downsides we see with TMGM, and means that this broker may not be the best option for traders who focus on other markets than the stock market.

No reviews yet

No reviews from traders yet.
Rating