TMGM Overall rating
| Rating | Weight | |
| User Rating |
4.0 (2 reviews)
 |
3 |
| Popularity |
3.5
|
3 |
| Regulation |
4.0
|
2 |
| Pricing rating |
4.0
|
1 |
| Features |
Not rated
|
1 |
| Customer Support |
Not rated
|
1 |
Pros
- Regulated by multiple authorities including ASIC and FMA, providing a level of trust and security for traders.
- Offers competitive spreads for forex and commodities, which can help reduce trading costs.
- Established in 2013, making it a well-established broker in the industry.
- Offers a wide range of trading platforms, including MT4 and MT5, catering to both beginner and advanced traders.
- High popularity rating with 198,337 organic monthly visits, indicating a strong presence and user base.
Cons
- Rated 3.0 out of 5 by users, suggesting there may be room for improvement in customer satisfaction.
- Does not offer deposit compensation schemes, which may be a concern for risk-averse traders.
- Swap rates are not the most competitive compared to leading brokers, which could impact long-term traders.
- Limited to CFDs and derivatives, which may not appeal to traders looking for real asset ownership.
We tested TMGM using real-money live accounts. Our reviews are unique in that they do not have any bias for or against any broker and are driven purely on the underlying data we compile from live account testing, regulatory data, and opinions from customers. We list all brokers and do not charge a fee for it. We offer additional visibility for a fee, but our review content cannot be influenced. Read our About Us page to read our editorial guidelines and how we make money.
Trustworthiness & Regulation
TMGM, also known as Trademax, is a well-established broker in the forex industry, having been founded in 2013. It is regulated by multiple authorities, including the Australian Securities and Investments Commission (ASIC) and the Financial Markets Authority (FMA) of New Zealand.
This multi-jurisdictional regulation provides a degree of trust and safety for traders who choose TMGM. However, it's crucial to remember that even highly regulated and successful financial firms have failed in the past, so due diligence is always recommended.
In terms of user feedback, TMGM has received a 3.0 out of 5 rating from its users, based on 1 total user review, and 1 user review from users with verified real trading accounts. This suggests that while some users are satisfied, there may be areas for improvement.
The broker ranks 68th out of 823 forex brokers based on user ratings and 136th based on expert ratings, which reflects its solid standing in the industry.
TMGM also boasts a popularity rating of 3.5 out of 5, with approximately 198,337 organic monthly visits according to SimilarWeb. This ranks it 93rd out of 815 forex brokers in terms of web traffic, indicating a robust online presence and a significant user base.
| Company | Licenses & Regulations | Segregated Client Money | Deposit Compensation Scheme | Negative Balance Protection | Rebates | Max. Leverage Retail Clients |
|---|---|---|---|---|---|---|
| Trademax Australia Limited |
|
 |
|
|
30 : 1 | |
| Trademax Global Markets (NZ) Limited |
|
|
|
|
200 : 1 | |
| Trademax Global Limited |
|
|
|
|
500 : 1 | |
| Trademax Global Markets (International) Pty Ltd |
|
|
|
|
1000 : 1 |
Deposit Insurance
TMGM does not offer a deposit compensation scheme under its current regulatory frameworks. This means that if the broker were to face financial difficulties or become insolvent, there would be no formal mechanism in place to compensate investors for their losses.
While TMGM does segregate client funds from its operating capital, which adds a layer of protection, the absence of a compensation scheme may be a concern for some traders.
Potential clients should weigh this factor alongside the broker's other offerings and consider their risk tolerance when choosing TMGM.
Spreads and Costs
TMGM offers competitive spreads and costs that are generally in line with the industry average across various asset classes. The broker's forex average spread is 3.36, which is higher than some leading brokers like IC Markets, with a forex average spread of 1.51.
However, TMGM's commodity average spread is 0.20, making it quite competitive in that asset class. While TMGM may not always offer the lowest spreads, its overall cost structure is reasonable, making it a viable option for traders who prioritize a broad range of asset offerings and a strong regulatory framework.
Combined Spread/Commission Costs by Asset Class Compared to Market Leading Brokers
| Broker - Account Type | Crypto Average | Forex Average | Indices Average | Commodities Average |
|---|---|---|---|---|
| TMGM – Classic | - | 3.36 | 5.08 | 0.20 |
| Exness – Standard | 20.95 | 2.02 | 7.28 | 0.12 |
| IC Markets – Standard | 9.29 | 1.51 | 1.23 | 0.10 |
| Tickmill – Standard | 9.88 | 2.23 | 2.40 | 0.16 |
| Pepperstone – Standard | 10.50 | 1.87 | 2.22 | 0.10 |
| IG – Standard | 51.55 | 2.34 | 3.42 | 0.23 |
| HFM – Premium | 20.99 | 2.88 | 4.14 | 0.18 |
Note: Crypto averages comprise (BTCUSD, ETHUSD), forex averages comprise (EURUSD, USDJPY, GBPJPY, EURGBP, AUDNZD, CADCHF), indices averages comprise (US30, AUS200), and commodities average comprises (XAUUSD, XAGUSD). Data is sampled every 10 seconds for 24 hours to calculate the average. Forex is stated in pips, and the others are stated in base currency. All spreads include both spread and commission calculated in.
Our data comes from our sophisticated spread analyzer tool, which collects live account information and syncs with our performance analytics system. To compare all brokers and instruments with the latest live data, visit our spread analyzer tool. A spread is the difference between the bid (sell) and ask (buy) price of an asset and can vary widely between brokers and account types.
Some brokers charge higher spreads but no commission, while others charge both, making it crucial to assess the total cost, which includes both spread and commission. Our values reflect this all-in cost. Note that some brokers may set low costs on popular pairs like EURUSD but higher rates on other instruments.
Many brokers also advertise "as low as" spreads that may not reflect the true average or include commissions. Comparing true all-in cost averages across various instruments and asset classes is vital for accurate assessment.
Combined Spread/Commission Costs Per Instrument Compared to Market Leading Brokers
| Broker - Account Type | BTCUSD | ETHUSD | EURUSD | USDJPY | GBPJPY | EURGBP | AUDNZD | CADCHF | AUS200 | US30 | XAUUSD | XAGUSD |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| TMGM – Classic | - | - | 1.95 | 3.11 | 5.58 | 2.62 | 3.37 | 3.50 | 6.02 | 4.13 | 0.37 | 0.04 |
| Exness – Standard | 35.72 | 6.18 | 1.08 | 1.72 | 3.58 | 1.87 | 2.66 | 1.21 | 6.71 | 7.84 | 0.20 | 0.05 |
| IC Markets – Standard | 15.59 | 3.00 | 0.88 | 1.14 | 1.81 | 1.37 | 2.35 | 1.49 | 1.51 | 0.96 | 0.18 | 0.02 |
| Tickmill – Standard | 18.08 | 1.63 | 1.69 | 1.95 | 2.75 | 1.87 | 2.54 | 2.58 | 2.56 | 2.24 | 0.29 | 0.02 |
| Pepperstone – Standard | 18.00 | 3.00 | 1.11 | 1.31 | 2.79 | 1.47 | 2.55 | 2.02 | 1.67 | 2.77 | 0.17 | 0.02 |
| IG – Standard | 98.00 | 5.10 | 0.87 | 1.10 | 3.68 | 1.61 | 3.24 | 3.53 | 2.69 | 4.15 | 0.44 | 0.02 |
| HFM – Premium | 38.41 | 3.61 | 1.74 | 2.51 | 3.99 | 2.20 | 4.03 | 2.82 | 2.27 | 6.01 | 0.32 | 0.04 |
Swap Rates/Financing Fees
Swap rates, also known as overnight or rollover fees, are charged when a trader holds a position overnight. These fees can be either positive or negative, depending on the currency pair and the direction of the trade. A positive swap rate results in a payout to the trader, while a negative swap rate incurs a cost.
TMGM's average swap rate is -2.54, which is quite competitive when compared to some industry-leading brokers. For example, IC Markets has an average swap rate of -2.27, making it slightly better in this regard. Traders who frequently hold positions overnight should consider these costs when choosing a broker.
| Broker | Best | Average | NZDUSD Swap Short | NZDUSD Swap Long | USDJPY Swap Short | USDJPY Swap Long | XAUUSD Swap Short | XAUUSD Swap Long |
|---|---|---|---|---|---|---|---|---|
| TMGM | - | -2.54 | -0.13 | -0.13 | -2.60 | 1.29 | 23.55 | -37.21 |
| Exness | - | -6.71 | -0.09 | -0.07 | -2.89 | 0.00 | 0.00 | -37.21 |
| IC Markets | - | -2.27 | -0.10 | -0.14 | -2.59 | 1.25 | 20.78 | -32.84 |
| Tickmill | Best | -2.24 | -0.13 | -0.13 | -2.66 | 1.27 | 20.97 | -32.76 |
| Pepperstone | - | -3.00 | -0.14 | -0.14 | -2.70 | 1.30 | 22.99 | -39.29 |
| IG | - | - | - | - | - | - | - | - |
| HFM | - | -7.43 | -0.14 | -0.15 | -3.58 | 0.00 | 0.00 | -40.72 |
Does TMGM Offer Islamic/Swap-free Accounts?
Islamic or swap-free trading accounts are designed for traders who cannot earn or pay interest due to religious beliefs. These accounts operate without swap or rollover interest on overnight positions, adhering to Islamic principles.
TMGM offers Islamic accounts that are swap-free, making them suitable for traders following Sharia law. To open an Islamic account with TMGM, traders typically need to request this specific account type and may be required to provide proof of religious affiliation.
Islamic accounts offer the same features as standard accounts but without swap fees. Interested traders should contact TMGM directly for the most accurate and up-to-date information regarding their Islamic account offerings.
Other Fees
TMGM imposes several fees that traders should be aware of, in addition to spreads and swap rates. The following table outlines some of the key non-trading fees associated with TMGM:
| Fee Type | Details |
|---|---|
| Withdrawal Fees | TMGM does not charge withdrawal fees for most payment methods. However, fees may apply for international bank wire transfers, which can vary depending on the bank and currency. |
| Inactivity Fees | TMGM charges an inactivity fee of $30 per month after 12 months of account inactivity. This fee applies if no trading activity is recorded on the account. |
| Deposit Fees | There are no deposit fees for most funding methods. Traders should verify with their payment provider to ensure no third-party fees apply. |
Comparison to other Brokers
When comparing TMGM to other brokers, it's important to consider several key factors, including regulatory licensing, user reviews, rankings, spreads and costs, swap rates, web traffic, trustworthiness, length of time in business, and popularity.
TMGM is regulated by multiple authorities, including ASIC and FMA, which adds a layer of trust and security. This multi-jurisdictional regulation is a significant advantage for traders seeking a reliable broker. In contrast, some brokers may only have a single regulatory license, potentially limiting their credibility.
In terms of user reviews, TMGM has a rating of 3.0 out of 5, which suggests that there is room for improvement in customer satisfaction. Brokers like IC Markets and Exness, which boast higher user ratings, may be more appealing to traders who prioritize user feedback. However, it's essential to note that individual experiences may vary, and traders should consider their preferences and priorities when selecting a broker.
TMGM offers competitive spreads and costs across various asset classes, making it a viable option for traders looking for reasonable pricing. While some brokers may offer lower spreads on specific instruments, TMGM's overall cost structure is generally in line with industry standards. Additionally, TMGM's swap rates are quite competitive compared to some leading brokers, which could favour long-term traders holding positions overnight.
With approximately 198,337 organic monthly visits, TMGM ranks 93rd out of 815 forex brokers for web traffic. This indicates a strong online presence and a significant user base, which can be an essential factor for traders considering a broker's popularity and reputation.
Established in 2013, TMGM is a well-established broker with over a decade of experience in the industry. This longevity is a testament to its stability and reliability. In comparison, newer brokers with fewer years in operation may not have the same level of industry expertise or track record.
Trading Platforms - Mobile, Desktop, Automated
| Platform | Device Compatibility | Automated Trading |
|---|---|---|
| iRESS | Desktop, Mobile, Web | No support for automated trading |
| MetaTrader 5 | Desktop, Mobile, Web | Supports automated trading (MQL5 programming language) |
| MetaTrader 4 | Desktop, Mobile, Web | Supports automated trading (MQL4 programming language) |
| TMGM App | Mobile | No support for automated trading |
TMGM offers a range of trading platforms catering to various trader needs. The MetaTrader 4 and MetaTrader 5 platforms are popular choices among traders due to their robust features, advanced charting capabilities, and support for automated trading.
These platforms utilize the MQL4 and MQL5 programming languages, respectively, which are widely regarded for their ease of use and extensive community support. Traders can create and implement automated trading strategies, also known as Expert Advisors (EAs), to execute trades based on predefined criteria.
The iRESS platform provides a comprehensive trading experience with advanced charting tools and a user-friendly interface. However, it does not support automated trading, making it more suitable for manual traders who prefer a hands-on approach.
For mobile trading, TMGM offers a dedicated mobile app, allowing traders to access their accounts and manage positions on the go. The app provides essential trading features and account management tools but lacks support for automated trading.
What Can you Trade?
| Asset Class | Number of Instruments |
|---|---|
| Forex CFD | 40+ |
| Crypto CFD | 20 |
| Stock CFD | 50+ |
| Shares | 10,000+ |
| Stock Index CFD | 19 |
| Commodities CFD | 5 |
| ETFs | - |
| Bond CFD | - |
| Futures CFD | - |
TMGM offers a diverse range of tradable instruments across various asset classes. Traders can access over 40 forex currency pairs, 20 cryptocurrency CFDs, and a broad selection of stock CFDs, with more than 50 options available. Additionally, TMGM provides access to over 10,000 shares, 19 stock index CFDs, and 5 commodities CFDs.
It's important to note that TMGM primarily offers trading in CFDs (Contracts for Difference) and derivatives, rather than real asset ownership. CFDs are financial instruments that allow traders to speculate on price movements without owning the underlying asset.
This can be beneficial for traders seeking leverage and short-selling opportunities, but it also comes with risks, such as the potential for significant losses due to leveraged trading.
Traders interested in exploring the full range of available instruments can visit TMGM's website to view the individual symbols offered. The broker's website provides detailed information on each instrument, including trading hours, contract specifications, and leverage options.
Available Leverage
TMGM offers varying levels of leverage depending on the regulatory entity and the type of instrument being traded. For retail clients trading under Trademax Australia Limited, leverage is capped at 30:1 due to ASIC regulations.
However, clients trading under Trademax Global Markets (NZ) Limited can access leverage of up to 200:1, while those under Trademax Global Limited can utilize leverage as high as 500:1.
Leverage allows traders to control larger positions with a smaller amount of capital, potentially amplifying profits and losses. While high leverage can increase potential returns, it also magnifies risk, making risk management crucial for traders utilizing leverage.
TMGM provides leverage options across various asset classes, including forex, commodities, and indices, allowing traders to tailor their leverage levels to suit their trading strategies and risk tolerance.
Prohibited Countries
TMGM does not accept clients from certain jurisdictions due to regulatory restrictions and compliance requirements. According to the broker's website, TMGM cannot open client accounts for residents of the United States, Japan, North Korea, Iran, and other countries where local regulations prohibit or restrict the offering of financial services by foreign brokers.
Traders residing in these prohibited countries should seek alternative brokers that comply with local regulations and can legally offer their services in their respective jurisdictions.
It's essential for traders to verify their eligibility with TMGM and ensure compliance with applicable laws before attempting to open an account.
TMGM Account types
| Classic | Edge | STD | Premium | Pro | Raw | |
| Commission | - | $7.00 Per Lot Per 100K USD Traded | - | |||
| Maximum leverage | 500:1 | 1000:1 | ||||
| Mobile Platform | MT4 Mobile | MT4 Mobile, MT5 Mobile, Proprietary | ||||
| Trading platform | MT4, WebTrader | MT4, MT5 | ||||
| Spread Type | Variable Spread | |||||
| Minimum Deposit | 100 | |||||
| Minimum Trade Size | 0.01 | |||||
| Trailing Stops | | |||||
| Scalping Allowed | | |||||
| Hedging Allowed | | |||||
| Islamic Accounts | | |||||
| Classic | |
| Maximum leverage | 500:1 |
| Trading platform | MT4WebTrader |
| Mobile platform | MT4 Mobile |
| Spread type | Variable Spread |
| Minimum deposit | 100 |
| Minimum Trade Size | 0.01 |
| Trailing Stops | |
| Scalping Allowed | |
| Hedging Allowed | |
| Islamic Accounts |
|
| Edge | |
| Commission | $7.00 Per Lot Per 100K USD Traded |
| Maximum leverage | 500:1 |
| Trading platform | MT4WebTrader |
| Mobile platform | MT4 Mobile |
| Spread type | Variable Spread |
| Minimum deposit | 100 |
| Minimum Trade Size | 0.01 |
| Trailing Stops | |
| Scalping Allowed | |
| Hedging Allowed | |
| Islamic Accounts |
|
| STD | |
| Maximum leverage | 1000:1 |
| Trading platform | MT4MT5 |
| Mobile platform | MT4 MobileMT5 MobileProprietary |
| Spread type | Variable Spread |
| Minimum deposit | 100 |
| Minimum Trade Size | 0.01 |
| Trailing Stops | |
| Scalping Allowed | |
| Hedging Allowed | |
| Islamic Accounts |
|
| Premium | |
| Maximum leverage | 1000:1 |
| Trading platform | MT4MT5 |
| Mobile platform | MT4 MobileMT5 MobileProprietary |
| Spread type | Variable Spread |
| Minimum deposit | 100 |
| Minimum Trade Size | 0.01 |
| Trailing Stops | |
| Scalping Allowed | |
| Hedging Allowed | |
| Islamic Accounts |
|
| Pro | |
| Maximum leverage | 1000:1 |
| Trading platform | MT4MT5 |
| Mobile platform | MT4 MobileMT5 MobileProprietary |
| Spread type | Variable Spread |
| Minimum deposit | 100 |
| Minimum Trade Size | 0.01 |
| Trailing Stops | |
| Scalping Allowed | |
| Hedging Allowed | |
| Islamic Accounts |
|
| Raw | |
| Maximum leverage | 1000:1 |
| Trading platform | MT4MT5 |
| Mobile platform | MT4 MobileMT5 MobileProprietary |
| Spread type | Variable Spread |
| Minimum deposit | 100 |
| Minimum Trade Size | 0.01 |
| Trailing Stops | |
| Scalping Allowed | |
| Hedging Allowed | |
| Islamic Accounts |
|
TMGM Web traffic
Our web traffic data is sourced from SimilarWeb and sums the traffic data of all websites associated with a broker. Organic visits are visits the broker didn't pay for, based on the available data. This data updates once monthly and can be based on data purchased from internet service providers, traffic metrics sourced by a third party such as Google Analytics that the company chooses to share with SimilarWeb, etc.
| Websites |
portal.tmgm.com
|
| Organic monthly visits | 102,762 (99%) |
| Organic traffic rank | 123 out of 827 (Forex Brokers) |
| Paid monthly visits | 566 (1%) |
| Total monthly visits | 103,328 |
| Bounce rate | 33% |
| Pages per visit | 3.83 |
| Average visit duration | 00:05:10.8020000 |
TMGM Profile
| Company Name | TradeMax Global Markets |
| Categories | Forex Brokers, Forex Rebates |
| Primary Category | Forex Brokers |
| Year Founded | 2013 |
| Headquarters | Australia |
| Office Locations | Australia, Taiwan |
| Account Currency | AUD, CAD, EUR, GBP, NZD, USD |
| Support Languages | Chinese, English, French, Indonesian, Italian, Portuguese, Spanish, Thai, Vietnamese, Filipino |
| Funding Methods | Bank Wire, China Union Pay, Credit/Debit Card, FasaPay, Neteller, Skrill, SticPay, Revolut, Wise, RMB Instant, Asia Instant Pay, SEA Internet Banking |
| Financial Instruments | Forex, Shares, Indices, Oil/Energies, Cryptocurrencies, Metals |
| Prohibited Countries | Iran, United States |
24 hour support
Segregated Accounts
Islamic Accounts
Accepts Canadian clients
Accepts Japanese Clients
Non expiring demo
Trading API
Cent accounts
Negative balance protection
Social trading
Regulatory deposit insurance
Trailing stops
Bonuses
Interest on margin
Fixed spread
Variable spread
TMGM User reviews
Newer user ratings have greater impact than older ratings and user ratings have no impact after 5+ years old. The more reviews a company receives, the higher the maximum possible aggregate user rating. After 100 reviews a company can receive the highest rating, which is an average of their user ratings.
We display the reviews we reject as spam or vote fraud. Not all rejected reviews are displayed, for example reviews advertising a website or service.
TMGM Cashback rebates
| Classic | Edge | STD | Premium | Pro | Raw | |
| Forex | $3.00 Per Lot | $1.50 Per Lot | $7.50 Per Lot | $3.00 Per Lot | $1.50 Per Lot | |
| Oil / Energies | - | $1.125 Per Lot | ||||
| Metals | $3.00 Per Lot | $1.50 Per Lot | Bullion $15.00 Per Lot | Bullion $11.25 Per Lot | Bullion $7.50 Per Lot | Bullion $1.50 Per Lot |
| Shares / Equities | - | $0.015 Per Lot | ||||
| Indices | - | $1.125 Per Lot | ||||
| Cryptocurrencies | - | $1.125 Per Lot | ||||
| Payment Options |
Monthly Cash Back
| |||||
| Classic | |
| Forex | $3.00 Per Lot |
| Metals | $3.00 Per Lot |
| Payment Options |
Monthly Cash Back
|
| Edge | |
| Forex | $1.50 Per Lot |
| Metals | $1.50 Per Lot |
| Payment Options |
Monthly Cash Back
|
| STD | |
| Forex | $7.50 Per Lot |
| Oil / Energies | $1.125 Per Lot |
| Metals | Bullion $15.00 Per Lot |
| Shares / Equities | $0.015 Per Lot |
| Indices | $1.125 Per Lot |
| Cryptocurrencies | $1.125 Per Lot |
| Payment Options |
Monthly Cash Back
|
| Premium | |
| Forex | $3.00 Per Lot |
| Oil / Energies | $1.125 Per Lot |
| Metals | Bullion $11.25 Per Lot |
| Shares / Equities | $0.015 Per Lot |
| Indices | $1.125 Per Lot |
| Cryptocurrencies | $1.125 Per Lot |
| Payment Options |
Monthly Cash Back
|
| Pro | |
| Forex | $1.50 Per Lot |
| Oil / Energies | $1.125 Per Lot |
| Metals | Bullion $7.50 Per Lot |
| Shares / Equities | $0.015 Per Lot |
| Indices | $1.125 Per Lot |
| Cryptocurrencies | $1.125 Per Lot |
| Payment Options |
Monthly Cash Back
|
| Raw | |
| Forex | $1.50 Per Lot |
| Oil / Energies | $1.125 Per Lot |
| Metals | Bullion $1.50 Per Lot |
| Shares / Equities | $0.015 Per Lot |
| Indices | $1.125 Per Lot |
| Cryptocurrencies | $1.125 Per Lot |
| Payment Options |
Monthly Cash Back
|
What are TMGM rebates?
Many traders initially believe there must be higher costs elsewhere to compensate, however they soon find there is no catch and Forex rebates truly reduce the costs of the transaction and improve their bottom line.
How do TMGM rebates work?
When you link a new or existing forex trading account to us the broker pays us part of their spread or commission profit for every trade you make as compensation for referring a customer to them. We then share the majority of our revenue with you, paying you a cash rebate for each trade you make as thank you for signing up with us.Unlike some of our competitors your spreads will never increase as a result of using our service! The only difference is: as our client you earn extra cash per trade, making trading through us more profitable than opening direct with the broker. Founded in 2007, we are the original and leading provider of forex rebates. We pay rebates to over 100,000 accounts and traders love our helpful 24 hour live chat, telephone and email support.
How much TMGM rebates can I earn?
TMGM Regulation / Money Protection
| Company | Licenses & Regulations | Segregated Client Money | Deposit Compensation Scheme | Negative Balance Protection | Rebates | Max. Leverage Retail Clients |
|---|---|---|---|---|---|---|
| Trademax Australia Limited |
|
|
|
|
30 : 1 | |
| Trademax Global Markets (NZ) Limited |
|
|
|
|
200 : 1 | |
| Trademax Global Limited |
|
|
|
|
500 : 1 | |
| Trademax Global Markets (International) Pty Ltd |
|
|
|
|
1000 : 1 |
TMGM Promotions
TMGM Symbols
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