TMGM Review 2023 - Verified Customer Reviews

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TMGM Review

Updated May 03, 2022
Score breakdown
Pricing: 4
Regulation: 4
Popularity: 3.5
User Rating: 0 (0)

TMGM overall score rank: 20 out of 66

TMGM forex broker review

Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. The vast majority of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.


  • Excellent range of financial instruments
  • Zero fees on deposits and withdrawals
  • Competitive spreads and fast execution speeds
  • No requotes, no minimum stops distance

Regulations and Money Protection


Entity Name Licence & Regulation Client Money Protection Deposit Compensation Scheme Negative Balance Protection
Trademax Australia Limited Australia ASIC Licence ✔️
segregated client money
Trademax Global Markets (NZ) Limited New Zealand FMA Licence ✔️
Trademax Global Limited Vanuatu VFSC Licence


  • International customers: Trademax Global Limited, trading as TMGM, will be the counterparty for the international clientele. This entity is registered in Vanuatu and licensed by the Vanuatu Financial Services Commissions (VFSC) with company number 40356.

  • Australian customers: Trademax Australia Limited, with ACN 162 331 311, and also trading as TMGM, is licensed by the Australian Securities & Investments Commission (ASIC). Trademax Australia Limited, with the registered address at Level 28, One International Tower, 100 Barangaroo Avenue, 2000 Sydney, NSW Australia, is regulated by Australia's ASIC, with licence AFSL 436416. The licence allows TMGM to offer financial services in Australia, limited to the financial services covered by its AFSL licence.

  • New Zealand customers: Trademax Global Markets (NZ) Limited is a financial services company registered in New Zealand with the number NZBN: 9429046269300. Trademax Global Markets (NZ) Limited, also trading as TMGM, has a registered office at Level 20, The Sap Tower, 151 Queen Street, Auckland Cbd, Auckland, 1010, New Zealand, and is authorised and regulated by the New Zealand’s Financial Markets Authority (FMA) with an FSP licence, number 569807.

Client Money Protection

  • TMGM complies with the highest standards regarding client money protection. Therefore, the broker client’s funds are kept in the NAB (National Australian Bank), a AA rating banking institution, in segregated accounts.

  • TMGM also complies with the client money handling rules and employs strict policies and procedures regarding the maintenance and operation of these accounts. TMGM holds the client's money separately from the company funds and does not use these funds for any company operational expenses or purposes.

Deposit Compensation Scheme

Currently, none of the TMGM group entities offers a default deposit compensation scheme, supervised by a financial regulator. Still, the Trademax Australia Limited entity, regulated by Australia’s ASIC is also a member of the Australian Financial Complaints Authority (AFCA), with membership number 32245. The AFCA is an independent and impartial Australian ombudsman that can assist consumers to resolve a complaint about an Australian financial firm.

Negative Balance Protection

Accounts opened with Trademax Australia Limited and Trademax Global Markets (NZ) Limited, are protected by a default Negative Balance Protection mechanism. NBP is in place for retail traders, protecting traders from losses bigger than the original deposit, in case of extreme market volatility.

Accounts opened with Trademax Global Limited are not protected by the NBP mechanism.

Professional Indemnity Insurance

TMGM's customers are also covered by a Professional Indemnity Insurance, maintained with the scope to enhance the financial security of customers and meeting the legal requirements of multiple regulations. The extra layer of protection, offered by the Professional Indemnity Insurance subscribed by TMGM, provides all customers with up to AU$ 5 million in single insurance coverage.

Accounts, Instruments and Platforms

Accounts Instruments Platforms Social trading Maximum Leverage


✔️Islamic Accounts

✔️MT5* coming soon
30:1 Australia

200:1 New Zealand

500:1 Rest of World

Account types and currencies

  • TMGM has five types of trading accounts available; MT4 and MT5 (coming soon) with Classic and Edge accounts and IRESS with Standard, Premium and Gold accounts. The IRESS is a trading platform with advanced functionalities, including Direct Market Access (DMA), allowing for CFDs trading in shares along with other non-DMA financial instruments such as indices, commodities and forex. TMGM also offers swap-free accounts for traders of Islamic belief.

  • TMGM allows for social trading, including copy trading, through its proprietary service HUBx.

  • TMGM has MAM/PAMM accounts alternatives for money managers with its HUBx platform.

  • TMGM maximum leverage for retail traders is 30:1 for accounts opened in Australia, 200:1 for accounts opened in New Zealand and up to 500:1 for accounts opened in other countries around the world.

  • Currently, TMGM trading accounts are available in USD, EUR, GBP, AUD, NZD and CAD.

Financial instruments

Trading with TMGM can be done via the Metatrader 4, Metatrader 5 (available soon) and the IRESS platform, available on desktop terminal and mobile versions. TMGM offers an excellent selection of more than 12,000 assets to trade, including forex, indices, shares, commodities and cryptocurrencies.

  • FX market - 50+ currency pairs (including Minor and Exotic crosses).

  • Indices - 15 world indices including S&P 500, DAX 40, FTSE 100 and NIKKEI 225.

  • Shares - 12,000+ shares CFDs for trading with the IRESS platform, from four global venues; NYSE, NASDAQ, ASX and HKEX, of top companies and banks such as Apple Inc, Facebook Inc, Alcoa Corporation, Bank of America Corporation, Aston Martin and Tesla.

  • Commodities - 5 commodities CFDs available for trading; 3 metals: Platinum, Silver and Gold and 2 energies: US Oil and UK Oil.

  • Cryptocurrencies - 12 cryptocurrencies CFDs crosses available for trading, including Bitcoin, Ripple, Ethereum and Litecoin versus the USD.



MT4/5 Classic MT4/5 Edge IRESS Standard IRESS Premium IRESS Gold
Spread EUR/USD from 1.0 pip from 0.0 pip Commission based Commission based Commission based
Commissions (1 lot) from 7 USD from 2.25 cps (minimum $10) from 2 cps (minimum $0) from 1.8 cps (minimum $0)
Minimum Deposit from 100 currency units from 100 currency units from $ 5,000 from $ 10,000 from $ 50,000


TMGM pricing is well-positioned and can be considered competitive, when compared with other major players in the industry. For the most popular cross, the EUR/USD pair, TMGM offers a starting spread, on the Classic account, of 1.0 pip, commission-free. And things improve massively with the Edge account, proposed with a starting spread of 0.0 pip on major crosses, including the EUR/USD, of course.

To benefit from lower spreads there's a cost, meaning that the Edge accounts have trading commissions added. For the same example, the EUR/USD with the Edge account, the standard lot commission for 1 lot (100,000 units) is 7 USD (3.5 USD per side, per lot), or the equivalent on your account currency. This commission is on average compared with other top brokers.

Rollover Rates

TMGM swap rates, as of 11-10-2021, for 1 lot EUR/USD (100,000 units) stands at an average rate of -4.05 for holding overnight a long 1 lot contract and at +0.34 for holding overnight a short 1 lot contract. We consider TMGM swap rates to be slightly lower compared with the rollover rates offered by other top Forex brokers.

Deposits/Withdrawals and Other Fees

  • Deposit fees - Trading accounts can be opened in 6 different currencies and maintained via 15 different funding methods, including cards, bank wires and e-payments such as Neteller, Skrill, Fasapay and Revolut. Deposited funds are available almost instantly on the trading account. TMGM does not charge any fees for deposits.

  • Withdrawals fees - Same policy applies for withdrawals (processing times vary depending on the withdrawal method chosen, normally within 1 business day) with TMGM waiving any withdrawal fees. While TMGM does not charge any withdrawal fees for e-wallet and bank wire transactions, the e-wallet provider as well as the sending and correspondent bank may charge according to their own fee structure. The minimum withdrawal amount is $ 100. For more information, please visit the TMGM deposit and withdrawals dedicated page.

  • Inactivity fee - TMGM charges a 30 USD monthly account maintenance fee, if the account balance is below $500 of account currency and if the account is inactive for more than six (6) months.



Deposit/Withdrawals Fees Non expiring demo account Customer
FX courses
Technical and Fundamental analysis
Trading tools
Daily market report
Bank Wire
❌ - 1 year or 6 months with no activity Multi language
24/7 Support
Live Chat

The popularity of TMGM deserves a solid 3.5 out of 5. Although a relatively new player in this industry (founded in 2013), the TMGM brand is becoming globally recognized due to the management efforts of offering stable trading conditions to investors around the world.

TMGM aims at providing the best trading conditions, powered by both industry-leading and cutting-edge innovative platforms, and TMGM should be considered a sound option if traders are looking for an alternative broker with a good variety of financial instruments.

TMGM is also a popular choice with traders looking for fast execution speeds, provided by the broker's safe and reliable trading environment via its state of the art Equinix data centres in New York NY4 and Tokyo TY3, connecting traders to partnerships with top-tier liquidity providers.

  • Trading accounts - The TMGM Edge account is a popular choice with traders looking to save on trading costs, with a lower spread and a competitive commission of $7.00 per lot traded. Extra points for TMGM's policy of no fees on deposits or withdrawals.

  • Forex education - TMGM also gets extra popularity points for their good range of Forex education materials, available through the Education tab. TMGM clients can access FX trading courses, make use of its top-notch trading tools (Trading Central, Market Sentiment Tool, Trading Calendar, etc.), and make informed decisions with TMGM fundamental & technical analysis. To complete the offer, traders can get market insights with TMGM's daily market report.
Funding Methods Bank Wire, China Union Pay, Credit/Debit Card, FasaPay, Neteller, Skrill (Moneybookers), SticPay, Revolut, Wise, RMB Instant, Asia Instant Pay, PoliPay, SEA Internet Banking, USDT
Support Languages Chinese, English, French, Indonesian, Italian, Portuguese, Spanish, Thai, Vietnamese, Filipino

  • Minimum deposit - Opening a trading account with TMGM is quite easy, taking around 10 to 15 minutes to complete all the forms with the required information. The minimum deposit requirement for the MetaTrader Classic and Edge accounts is 100 currency units of the chosen account currency. For the IRESS account the minimum deposit ranges from $ 5,000 to $ 50,000, depending on the selected package.

  • Customer support - TMGM's multi language customer support service is available 24 hours, 7 days a week, in 10 languages. TMGM's support is available via global phone numbers (depending on jurisdiction), email, and live chat directly from the broker's website.

Broker Profile

TMGM is an Australian-based CFDs broker offering investors online trading on a full suite of financial instruments, including forex, shares, indices, metals and energies. Investors can trade the price of over 12,000 assets, through a selection of traders oriented platforms, including the classic MT4, the next-gen MT5 (coming soon), and IRESS, with DMA access to several global exchanges and ideal for shares trading, with most platforms available for Windows, macOS, iOS and Android.

Established in 2013, the Trademax group, through its TMGM brand, offers its customers an appealing combination of good execution speeds, partnerships with top-tier liquidity providers, robust trading platforms, a diversified product range and knowledgeable customer support, giving its clients the confidence to trade.

TMGM is becoming a global CFDs broker and, due to its fast progression, TMGM’s online brokerage services are now available in more than 150 countries worldwide and still growing.

TMGM offer a combination of competitive pricing, good execution speeds, excellent product range, customer support and market analysis, all key ingredients that give its clients the confidence to trade, and being an Australian-licensed CFDs broker, the client's interests are a priority for the company.

Overall, on our TMGM review, the broker scores an above average of 3.6 out of 5 as this broker still has a couple of key points to improve regarding their pricing and choice of regulators for the international clientele. However, the level of safety for retail client’s funds offered by the broker, together with a popular policy of zero fees on deposit & withdrawals, and an initial low deposit of just $ 100, are all key ingredients that can soon propel the popularity of this broker to higher levels.

Data supplied in partnership with CashBackForex - Forex Rebates places TMGM on the top 10 brokers for popularity with traders opening an account in 2021.

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