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TMGM Review & Rating India 2022

Should I consider TMGM?

Several global forex brokers claim to be the best in the industry but how does TMGM size up to the competition? In this TMGM review, we look at what makes it stand out from the rest.

At TradersBest.com, our team of dedicated forex experts, traders, and financial market connoisseurs dive deep into the forex market, and the current online brokers to find the best trading options for you. Our TMGM review expands on how this Aussie-born broker is weighing in against the competition and gives you an idea of whether it’s the right platform for you.

Company
CompanyTrademax Australia Limited
Headquarter
Year of Founding-
CEO-
Web Sitewww.tmgm.com
Available Languages-
Customer Support
Emails[email protected]
Phone+61 2 8036 8388
Licence436416
ASIC - Australian Securities and Investments Commission
Verified by-
Payment Methods
Credit Card
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Offers and New Customer Experience - Your loyalty is rewarded

A good place to start is to ask, what is TMGM? TMGM or Trademax Global Markets is an Australian-based forex broker. They appeal to new and experienced forex traders and reward each user for their time while trading, no matter what they earn, through their loyalty program. Although they don’t have as many new member offers as our Plus500 review highlighted. If you decide to become a member, you will earn ten points for every lot you trade. The higher your status, the more points you’re rewarded.

Once you start earning and collecting those points, you have the chance to trade them in for items in the TMGM store including the latest iPhones, Macbooks, Airpods, or the option to claim cashback.

In addition, our TMGM review looked at the broker if we were a new customer. You have access to the demo account that allows you to trade the financial markets first without using any real money. It will help you practice your skills and forex trading techniques.

Usability - Simple to use platform

TMGM is very user-friendly. Their easy-to-navigate platform makes it an excellent choice for people new to trading and more skilled users. Our TMGM review found it has a simple interface and layout design that proved popular with customers.

The platform also has features like the Hubx, trading calendar, and the TMGM academy. We went into more detail below.

Hubx

This bespoke platform was created to help fund managers handle their clients. It’s an advanced portfolio adjustment tool that is great for fund managers and clients to work together and take control of their investments in the financial markets.

Trading Calendar

The TMGM platform gives its users access to a real-time economic calendar. Our TMGM review found that this broker knows how important it is for its clients to be on top of economic and financial market news when trading. Their calendar monitors the financial activity in 38 countries by the day, week, month, or choosing a selected time.

TMGM Academy

The TMGM academy is a great place for trading novices to build their knowledge to start their forex trading journey. There are three stages: the Beginner, Intermediate, and Advanced stages. It is advised to start at the Beginner stage and work your way up or risk making mistakes when you trade with real money.

Accounts - Quick and easy account opening process

We found in this TMGM review the different account types offered to its customers. These included the Classic account, the Edge account, and the demo accounts, which we have detailed below.

Classic Account

The Classic account offers its customers variable spreads with a maximum leverage of 1:500. The minimum deposit is $100 in your base currency. You can choose between USD, EUR, GBP, AUD, NZD, or CAD. There is no commission on trades, and there is a range of financial markets that you can trade also.

Edge Account

The Edge account is similar to the Classic as it also has a minimum deposit of $100 and maximum leverage of 1:500. However, they have commission rates of $3.5 and spreads from 0.0 pips. Both the classic and edge use either MT4 (MetaTrader 4) or MT5 (MetaTrader 5) platforms to execute the trades on the web, mobile, or the app.

Demo Account

In this TMGM review, we found the demo account is available for both main trading accounts. It allows you to practice your trading skills for free and helps you make decisions before you spend your funds on your chosen financial market.

How to Open a TMGM Account

At TradersBest.com, we looked at the process of opening an account with TMGM and found it to be simple to follow and done in under ten minutes. There are four main steps to consider when opening an account which includes:

  1. Filling in some basic information about you, including your name, email address, country of residence, and mobile number.
  2. You then get to fill in some additional information, like your date of birth and personal address.
  3. You can choose the account type you want and what currency you will be trading in. TMGM is available across the world except for the United States. But, you can still choose USD to be your base currency.
  4. The final step is to confirm you are who you say you are by verifying your identity. You upload a copy of your ID, like a passport, and a bank statement or utility bill to confirm your address.

Trading Platforms - Uses the reliable MT4 and MT5

To avoid any TMGM scams, the broker uses reliable and well-trusted MetaTrader platforms. MT4 and MT5 are excellent choices and used on many reputable brokers, as mentioned in our FP Markets review. The only downfall about MT4 is there is no two-step login. It is a lot safer for the user. The design is also outdated, but this is where MT5 comes in as a new and improved version.

MetaTrader

In this TMGM review, we noticed they used MT4 because it has years of experience as a highly sought-after trading platform. Its usability and design are easy to go through on the platform. It allows the user to customise the size and position of tabs that help with executing trades. MT4 is available in several languages to appeal to traders from all over the world. It also has several tools and features that are aimed to help the user. These include asset charts, clear portfolios, and fee reports.

IRESS

TMGM also uses IRESS, an institutional-grade platform. Meaning customers can trade on multiple portfolios with the help of advanced charting tools, access to over 50 indicators, and real-time price streaming. You also have a unique modular structure that allows you to customise the web workspace by choosing which information is most important to you.

Trading Payments - Instant deposits and fast withdrawals

If you’re still unsure about the TMGM experience and rating, we suggest you consider the positives of this platform. Like their quick deposit and withdrawal processing times.

In addition, there are zero transaction fees. So, regardless of the amount you’re depositing, with a minimum deposit of $100 in your chosen base currency, your account will instantly see those funds and be ready to trade. Similarly, if you have small or large amounts to withdraw, this is processed within one business day via bank transfer. Fairly quick for the industry average.

Payment Options

Our TMGM review found there are a variety of payment methods to choose from, like instant deposits through debit or credit cards, Neteller, Skrill, and Union Pay. If you decide to deposit via bank transfer, that can take up to three business days.

Fees – Inactivity fee charged after six months

Our TMGM reviews the fees of this broker and compares them to the market average. As a result, we found the majority of their fees to be quite low compared to sites like our Eightcap review suggests. So we listed a few of them below.

Trading fees

The TMGM trading fees are relatively low which is good news if you want to trade more than one asset or financial market at a time. It’s also great for short-term traders who are happy to make multiple smaller traders during the day rather than holding a position for a longer time.

Forex fees

Forex fees are also low on TMGM. This is excellent as the MT4 platform is designed specifically for forex trading. It is equipped with tools and advice for traders of all skill levels.

Non Trading fees

Our TMGM review looked at the different non-trading fees.  They showed there were no withdrawal or deposit fees. TMGM also doesn’t have account fees, meaning once you’ve set up an account with them, you shouldn’t worry about any hidden charges.

Inactivity fee

If you’re not active on your account for over six months, you will be charged a $30 inactivity fee. You will also be charged this if your account balance falls below $500. In comparison to other brokers, the inactivity fee of TMGM is quite lenient as platforms generally only give their customers three months before this fee is enforced. In addition, other brokers may charge overnight fees, as we outlined in our eToro review, but luckily, TMGM does not.

Customer Service - An excellent support team

At TradersBest.com, we take pride in giving support and advice to our clients, so we know what to look for when it comes to a reputable broker’s customer service team. In this TMGM review, we found this broker has a good range of customer support channels including, phone, email, and live chat options. However, the support is only 24/5, similar to what we outlined in our Interactive Brokers review. As opposed to offering a 24/7 service.

Phone support

The TMGM headquarters is in Australia, and from our research in this TMGM review, we could only find a phone number with that area code to contact. If you live and trade in Australia, this is ideal because the phone services have a fast response time and answer your questions with relevant detail and knowledge.

Email chat

If you’d prefer to email the customer support team, you can and will receive a detailed response. This contact method is not as fast as the live chat or phone calls, but you will get a response within a day or two, so keep that in mind.

Live chat

We found the live chat to have the fastest response time, although you need to have an account set up so they can access your details. The live chat is available on the actual TMGM website. There are other messaging apps that you can use including WhatsApp, Viber, Telegram, and Facebook Messenger.

Regulation and Deposit Insurance - TMGM has top tier regulations

You may be wondering, is TMGM reliable, and we hope to help you answer that question in this TMGM review. TMGM was founded in Australia in 2013, and now clients have access to this broker from around the world.

Their regulations allow them to offer customers negative balance protection, meaning if your account goes into the red, your funds will be protected. You also have access to multiple global financial markets. However, TMGM is not listed on the stock exchange and does not offer investor protection by its regulators.

The top tier licences and regulators TMGM has includes:

Trademax Australia Limited is authorised by ASIC (Australian Securities and Investments Commission) for Australian clients.

Trademax Global Markets (NZ) Limited is authorised by FMA (Financial Markets Authority) for New Zealand clients.

Trademax Global Limited is authorised by VFSC (Vanuatu Financial Services Commission) for all other countries.

Additional Features - TMGM has a lot to offer

From being established in 2013, TMGM has continued to grow and develop as the years have gone on. It has a range of financial markets to choose from, like forex, shares, precious metals, indices, and cryptocurrencies.

The industry is currently highly competitive when choosing a broker to trade with. So you may ask the question, is TMGM safe, and should it be my first choice? In addition to it having high-level regulators, it also offers its users fast execution trading, tight spreads for forex trading, and no transaction fees.

Our TMGM review found that this broker promises to hold your funds in the most trusted banks, to ensure you are protected. They also use an external auditor to ensure their regulatory obligations are compliant.

TMGM Forex

Trade Offer

We found in this TMGM review that the broker prides itself in being a fast CFD trading platform. You can create an account that gives you access to over 12,000 products over seven asset classes.

Trading Costs

There are no account fees on TMGM accounts. However, there is a minimum deposit of $100, but you can access multiple financial markets open globally.

Trading Conditions

You’re able to trade CFDs on both the Edge account and the Classic account for different financial markets like forex, crypto, futures, and indices.

Product Summary

Overall, we think choosing this broker for CFD trading on your chosen asset is a good choice. You have over 12,000 products to choose from, so there is an excellent opportunity to diversify your portfolio and understand various financial markets during the process.

0/100
Rating
TMGM Highlights
  • Ability to diversify your portfolio
  • Access to over 12,000 products on the platform
  • You can trade CFDs over several asset classes
TMGM CFD

Trade Offer

We found in this TMGM review that the broker prides itself in being a fast CFD trading platform. You can create an account that gives you access to over 12,000 products over seven asset classes.

Trading Costs

There are no account fees on TMGM accounts. However, there is a minimum deposit of $100, but you can access multiple financial markets open globally.

Trading Conditions

You’re able to trade CFDs on both the Edge account and the Classic account for different financial markets like forex, crypto, futures, and indices.

Product Summary

Overall, we think choosing this broker for CFD trading on your chosen asset is a good choice. You have over 12,000 products to choose from, so there is an excellent opportunity to diversify your portfolio and understand various financial markets during the process.

0/100
Rating
TMGM Highlights
  • Ability to diversify your portfolio
  • Access to over 12,000 products on the platform
  • You can trade CFDs over several asset classes
TMGM Crypto

Trade Offer

We discovered that you can access the most popular and volatile cryptocurrencies in this TMGM review. Their spreads are tight and highly competitive compared to other crypto industry favourites.

Trading Costs

You can trade cryptocurrency CFDs with up to 1:2 leverage on the platform. TMGM has spread transparency, so there is nothing to hide as they offer tight spreads and no hidden transaction fees.

Trading Conditions

Crypto CFD trading is available to users 24/7 globally. You can trade on your MT4 platform, which allows you to be familiar with the way CFD trading works there.

Product Summary

Overall, we think trading cryptocurrency CFDs on TMGM is a good choice as you can trade seven days a week. Although there aren’t many cryptos to choose from, you get the most popular and highly sought-after coins. Including BTC/USD, ETH/USD, and XRP/USD.

92/100
Rating
TMGM Highlights
  • Access to highly liquid cryptos
  • Access to markets seven days a week
  • Familiar trading with your MT4 platform

TMGM Review FAQ

🔒Is TMGM safe?

TMGM has a range of licences and regulations that allow users to trade globally. Our TMGM review showed that the broker takes care to ensure the customer creating an account is who they say they are in that process. It’s important to research any potential broker to trade with. Check out our website for our reviews and more information on what makes a platform reliable.

🌏What countries can I trade TMGM in?

Popular forex brokers are always competing to be the stand-out choice. So having the option of different countries to trade from can help a potential customer make that decision. Our TMGM review looks at what countries allow you to trade with this particular broker and which countries don’t. Check out our website for more information.

❓Can I trade crypto with TMGM?

When creating our TMGM review, we noticed the variety of financial markets available for customers to trade. TMGM is a forex broker with several financial options for traders of all skill levels. To find out if there is a TMGM crypto, check out our website. 

Overall Conclusion - Why TMGM is an excellent choice for trading

Overall, we think TMGM is an excellent example of a forex broker that delivers high-quality service to its customers. It’s available globally, except for the US, and has a range of base currencies to choose from. Our TMGM review proved this broker is reliable by its responsive customer support team and top-tier regulations and licences.

It’s good to note that TMGM doesn’t have any transaction fees. And promises its customers an instant deposit processing time so you can start trading straight away. We would recommend you give TMGM a try and create an account.

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