TMGM Review 2025

Trust

TMGM Regulations

In our reviews, we examine the licenses and regulations of each entity operated by a broker, allowing us to compare their different levels of protection. We rank licenses by various regulatory bodies on a three-tier system, where Tier-1 licensing indicates the highest level of regulation.

This is what I discovered about the three entities that operate under the TMGM trade name:

• Trademax Australia Limited is licensed and regulated by the Australian Securities and Investments Commission (ASIC) under license number 436416. We rate ASIC as a Tier-1 regulator.
• Trademax Global Limited is licensed and regulated by the Vanuatu Financial Services Commission (VFSC) under license number 40356. We rate the VFSC as a Tier-3 regulator.
• Trademax Global Markets (International) Pty Ltd is licensed and regulated by the Financial Services Commission (FSC) under license number GB22201012. We rate the FSC as a Tier-3 regulator.
• Trademax Global Markets (KE) Pty Ltd is licensed and regulated by the Capital Markets Authority (CMA) of Kenya under license number 219. We rate CMA as a Tier-3 regulator.

Understanding the Regulatory Protections of Your Account

Brokers operate multiple entities globally, but regulatory protections vary. Some regulators enforce stricter financial standards than others, so traders should understand the safety measures of the entity they choose to open an account with.

Here is what you need to be looking for in a broker in terms of safety mechanisms:

• Segregation of client funds. Client funds are kept in segregated bank accounts from the ones used for the broker’s corporate capital, negating the risk of accounting errors. Client funds are kept in segregated accounts with a top-tier Australian custodian bank across all TMGM entities.
• Negative balance protection. This safety mechanism removes the risk of trading losses exceeding the account balance. In other words, the losses you incur from trading are capped at the amount you have put in your trading account. Negative balance protection is guaranteed with Trademax Australia Limited and Trademax Global Limited.
• Compensation scheme. A compensation scheme protects traders against the broker’s liabilities if the company becomes insolvent. TMGM has issued Professional Indemnity insurance for up to 10 million AUD. The Vanuatu-based entity is also a member of The Financial Commission, ensuring additional coverage of up to EUR 20,000.
• Maximum leverage. Capping the maximum leverage restricts the extent of market exposure to retail traders. The higher the leverage, the higher the potential profits and potential losses. Australian clients can use up to 1:30, while the maximum retail leverage at the offshore TMGM entities is 1:1000.

Stability and Transparency

In our Trust category assessments, we evaluate factors tied to stability and transparency, including the broker’s longevity, company size, and information transparency.

According to its LinkedIn page, TMGM employs over 400 people, highlighting its stability and strong presence in the industry. The broker has also issued a professional indemnity insurance, underscoring its commitment to client safety.

I also learned that TMGM adheres to the industry’s best execution standards, meaning it is required to deliver optimal price quotes to its clients under the prevailing market conditions.

Is TMGM Safe to Trade With?

I determined that TMGM is considered safe to trade with due to the following factors:

• Authorized by four regulators
• Ensures negative balance protection
• Client funds are kept in segregated bank accounts
• Has a professional indemnity insurance

Fees

TMGM Trading Fees

TMGM Spreads

I tested TMGM’s spreads on 5 February 2025 during the London and New York opens. The results are shown in the table below:

My findings indicate that TMGM charges low spreads on share CFDs and cryptocurrencies, low-to-average spreads on currency pairs and commodities, and average-to-high spreads on indices.

TMGM Swaps

A swap fee is a trader’s cost for holding an open position overnight because of changing interest rates. Swap long refers to the charge deductible or credit receivable for holding a buy position open overnight. In turn, swap short relates to the charges/credits deductible or receivable for holding a selling position open overnight.

The values listed below are for one full base currency contract (100,000 units).

According to my live tests, TMGM’s swaps are average to high compared to the benchmark. However, overnight charges fluctuate over time.

TMGM Non-Trading Fees

Though third-party processing fees may occur, TMGM does not impose a handling fee on deposits or withdrawals.

The broker charges a $10 monthly inactivity fee on dormant accounts until activity resumes or the balance reaches zero. An account is considered dormant after 12 months of inactivity.

Are TMGM’s Fees Competitive?

I found that TMGM offers favorable conditions for cryptocurrency and share CFDs trading and quite competitive spreads on currency pairs and commodities. However, I experienced elevated spreads on indices, especially on Dax. I also learned that the broker offers cost-free deposits and withdrawals and has a relatively low inactivity fee that only applies after one calendar year of inactivity.

Platforms and Tools

TMGM MT5 Desktop

I tested the desktop version of the MetaTrader 5 platform, which features multiple essential tools, such as one-click trading, an alarm setting option, and a market depth tool. These allow traders to examine various market developments from different angles and exploit the underlying trading opportunities in multiple ways.

In my opinion, MT5 is best suited for automated trading via Expert Advisors (EAs). The platform also has an intuitive strategy tester, allowing experienced algo traders to tweak the parameters of their strategies so that they can be used under different market conditions.

TMGM’s MT5 platform is available on Windows and Mac and supports 52 languages, including English, French, Spanish, German, Arabic, Chinese, and more.

Features

• Alerts-Setting Option: Traders can set alerts when the price of a given instrument falls or rises to a predetermined level, which could signal a viable entry opportunity.
• Watchlist Customization: Traders can populate watchlists with their favorite instruments and easily track market changes.
• One-click Trading: This feature enables instant market entries at the spot price and is invaluable for high-precision traders, such as scalpers.
• Trading from the Chart: Traders can place conventional trading orders directly from the chart, specifying the entry price, volume level, stop and take-profit levels, and more.

Charts

A common issue with MetaTrader is that charts can quickly become cluttered, even with just two indicators. This can obscure price action examination and make it harder to perform detailed technical analysis.

I have broken down the available analytical tools and chart configurations below:

• 38 technical indicators: Including trend-based, volume-based, and oscillator indicators, analyze price action and assess market sentiment, helping predict market movements.
• 24 drawing tools: Fibonacci retracement levels and Elliott waves help identify price patterns, support/resistance levels, and breakout points. However, MT5’s design can make price action harder to interpret.
• 21 timeframes: For multi-timeframe analysis, enabling detailed price action analysis.
• 3 chart types: Price action can be displayed as line, bars, or candlesticks, offering diverse perspectives on trading opportunities.

The chart screen is undeniably one of the most crucial features of a trading platform. It equips traders with essential tools and configurations to analyze price action and spot trading opportunities. The ability to easily scale price action is just as important, allowing for a clearer and more detailed view of market movements.

Orders

MetaTrader 5 features three types of order execution: market, pending, and one-click trading, allowing immediate entry at the spot price.

I have broken down the available order types on the MetaTrader 5 platform below:

• Market Orders: Used for immediate entry at the best available price. They guarantee volume filling, though the entry price may differ from the requested price.
• Limit Orders: Guarantee exact price entries but won’t be filled if the price doesn’t reach the trigger level.
• Stop Orders: They support open positions by limiting the maximum loss incurred if the market turns in the opposite direction. A stop-loss order is placed at a fixed price below or above the spot price. If the market does indeed turn and triggers the stop-loss, it will transform into a market order and get filled at the best possible price.

TMGM has no restrictions on the minimum stop-loss distance. This means that traders can place their protective stop-losses as close to the opening price of their orders as they want, which is crucial for exercising tight risk management.

MT5 Desktop: My Key Takeaways

MetaTrader 5 is a good option for fast and simple order execution. However, its dated and rugged design is inferior to newer, sleeker platforms. As a trader who prioritizes flexible charts that are easily scalable, I find MT5’s charting capability quite rigid.

TMGM MT5 Mobile

The MT5 mobile app is available on iOS and Android, enabling quick and easy access to the market on the go. It is beneficial for opening, terminating, and adjusting open positions.

The market is continually evolving, marked by periodic surges and declines in volatility. For this reason, staying on top of the latest market developments is crucial, a task made simpler through the mobile app version of MT5.

You can also use the app to place market, limit, and stop orders and adjust the exposure of your open trades.

MT5 App: My Key Takeaways

The MetaTrader app is known for its convenience and remains a useful tool for managing trades, particularly during volatile market conditions. However, compared to more modern trading apps, its interface and features may appear somewhat dated.

TMGM Trading App

TMGM app is a refreshing alternative to the MT5 app. Its fluid charts, powered by the seamless TradingView, offer a more intricate overview of price action behavior. Also, in contrast to MT5, the TMGM app features one-click trading for instant market access.

The greatest app’s advantage over its more popular counterpart is its integration with Trading Central. Users have real-time access to a variety of trading news, technical breakdowns, and market sentiment gauges, helping them stay on top of the latest market developments.

TMGM’s app also features:

• Economic calendar
• 107 Technical indicators
• 12 Chart types
• 9 Timeframes

TMGM Execution Model

TMGM operates as an Electronic-Communication-Networks (ECN) broker without a dealing desk, which allows it to achieve fast execution speeds. Client orders are matched electronically (buyers to sellers and vice versa) at the interbank level.

VPS Hosting

TMGM provides free Virtual Private Server (VPS) hosting to funded accounts with at least $3000 and a monthly traded volume of 7 lots. The service suits high-volume traders who want to achieve lightning-fast execution speeds of around 5 milliseconds.

HUBx

In collaboration with LifeByte, a reputable Australian financial technology company, TMGM has developed HUBx, a social and copy trading platform. This service offers a range of advanced tools and connects a global community of traders, enabling seamless interaction between signal providers and followers.

Tradable Instruments

Broken by asset class and compared to the industry average, TMGM offers a low number of share CFDs, an average number of currency pairs and commodities, and a high number of indices and cryptocurrencies.

What Are CFDs?

Contracts for Difference (CFDs) are financial derivative instruments that allow traders to speculate on the price movements of an asset without owning the asset itself.

For instance, taking a long position in gold would result in a profit for the trader if the price goes up or, respectively, a loss if the price goes down. The opposite would be true for a short position in gold.

A key advantage of trading CFDs is the ability to enter and exit the market almost instantly, enabling traders to capitalize on even minor price fluctuations in the derivative.

What CFDs Can You Trade With TMGM?

TMGM Instruments: My Key Takeaways

TMGM’s assortment of tradable instruments is quite limited but sufficiently diverse. The broker strikes a delicate balance between major, minor, and exotic forex pairs and provides quite a few popular indices and cryptocurrencies.

Customer Support

Customer Support Channels

Customer Support Test

When we test a broker’s customer support, we evaluate the agent’s knowledge of their own website, how long it takes them to respond to questions, and how detailed their answers are.

I conducted my test on 5 February 2025 at around 13:09 CET via live chat. Before connecting to an agent, I had to navigate a chatbot.

I was then reconnected with an agent who was fast to respond, generally knowledgeable, and polite. His answers were brisk and straight to the point. Overall, I rate TMGM’s customer support to be of very high quality.

Deposit and Withdrawal

TMGM Deposits

TMGM Withdrawals

Note: Clients who open an account with the global TMGM entities can also withdraw funds via Skrill, Neteller, USDT, and local payment methods.

Account Types and Terms

TMGM Account Opening Process

To open an account with TMGM, follow these easy steps:

1. Click ‘Sign Up’ at the top-right corner of the main page.
2. Fill your name and email address.
3. Provide your country of residence and phone number.
4. State your DOB and exact address.
5. Choose a platform, account type, and account currency.
6. Enter your preferred password.
7. Fill in a questionnaire as part of the Client Categorization process.
8. Verify your email.
9. Upload proof of ID and proof of address to verify your account.

While the registration process is generally straightforward, I did experience some issues. In comparison, registering with other brokers usually takes under 10 minutes, while in TMGM’s case, it was longer and more involved—possibly due to tighter regulations.

TMGM Account Types

In my estimation, the TMGM’s Edge account features better overall conditions because it has the same minimum deposit requirement and a more favorable pricing mechanism. I also appreciated a 100% margin call and 50% stop-out, protecting users against unexpected market tribulations and complete account wipeouts.

Demo Accounts

TMGM offers a demo account that introduces traders to the broker’s services and allows them to tweak their strategies in a risk-free environment. The market is continually evolving and never static, so it is important to hone your skills in a safe environment. You can set up a demo account for yourself before or alongside your live CFD account.

Islamic Accounts

TMGM offers Islamic accounts for swap-free trading under Shariah law. Clients must contact the broker’s customer support to request further assistance.

What is CFD Leverage?

Leverage determines a trader’s overall market exposure. When trading Contracts for Difference (CFDs), positions can be opened for a fraction of their value because of leverage. Essentially, the broker lends the trader money so that they can open bigger positions. Leverage multiplies a trader’s profits from winning positions and losses incurred from failed trades.

Maximum Leverage By Asset Class

In the table below, I have listed the maximum retail leverage available with TMGM’s Australian entity (Trademax Australia Limited) for instruments from different asset classes:

TMGM Restricted Countries

TMGM does not accept as clients residents of the United States, Singapore, Spain, Japan, Romania, or any other jurisdiction where trading with CFDs is prohibited.

Research

Research Tools

I have broken down TMGM’s research content below:

• In-house Research: TMGM publishes technical breakdowns on its website and market daily reviews on its YouTube channel daily. These updates keep traders informed about current market conditions and emerging trading opportunities.
• Trading Central: The Trading Central package includes an economic calendar, the ‘market buzz’ market sentiment gauge, and featured trading ideas.
• Acuity: This is an AI-powered tool that offers trading signals and a Dow Jones news screener.

TMGM Research: My Key Takeaways

In my view, TMGM’s research content is both insightful and well-rounded. It offers actionable trading ideas that analyze setups from multiple perspectives. Traders receive viable entry price levels, suitable stop-loss price levels, take-profits, and more.

Additionally, the broker provides a comprehensive economic calendar and daily market breakdowns. With its strong emphasis on real-time trading opportunities, I find TMGM’s research particularly well-suited for day traders.

Education

Beginner traders can learn from the range of articles available on TMGM’s Trading Academy, where essential trading topics, such as ‘Types of Forex Trading Charts’, ‘What is Price Action,’ and ‘30 Essential Forex Terms Every Trader Should Know’ are covered.

TMGM has also published a few dozen videos on its YouTube channel, including MetaTrader 4 and MetaTrader 5 tutorials and recorded webinars on popular markets and trading strategies. Most video content is available in Chinese, Thai, Vietnamese, and Bahasa.

The Bottom Line

Established in 2013, TMGM is an Australian financial derivatives broker offering over 150 tradable instruments at fair prices. The broker incorporates the MetaTrader 4 and MetaTrader 5 platforms and provides free VPS hosting for low-latency trading.

TMGM excels in market research, offering its clients access to Trading Central and Acuity content. It has also developed an excellent social trading platform, provides reliable customer support, and offers diverse trading accounts.

On the other hand, TMGM’s assortment of tradable instruments is relatively narrow, and its only available withdrawal method is via bank wire.

In summary, TMGM is an excellent choice for day traders, algo traders, and those interested in social and copy trading.

FAQ