
TMGM Review 2023
The information provided on this website is general in nature only and does not constitute personal financial advice. Before acting on any information on this website you should consider the appropriateness of the information having regard to your objectives, financial situation and needs. Investing in CFDs and Margined FX Contracts carries significant risks and is not suitable for all investors. You may lose more than your initial deposit. You don’t own, or have, any interest in the underlining assets. We recommend that you seek independent advice and ensure fully understand the risks involved before trading. It is important that you read and consider disclosure documents before you acquire any product listed on the website. The information and advertisements offered on this website are not intended for use by any person in any country or jurisdiction where such use is contrary to the local laws and regulations. Products and Services offered on this website is not intended for residents of the United States.
Please note: This is a review of a Classic account opened with Trademax Australia Limited, operating under TMGM. We evaluated the broker’s terms and conditions, services, and the performance of its platform – the desktop and mobile app versions of MetaTrader 4 (MT4).
Data was collected between the 19th and 20th of December 2022.
The Big Picture
TMGM is a sophisticated broker with a wide range of tools and services catering to the needs of even the pickiest traders. The Sydney-based company is one of the leaders in OTC derivatives trading in Australia, with its massive brand recognition and high level of trust accumulated since its foundation in 2013.
The multi-regulated broker has developed several different account types tailored specifically for traders with varying means and goals on the market. TMGM also offers a reasonable, though not great, amount of tradable instruments at very low costs. And with its extensive pool of liquidity providers, we found TMGM’s order execution to be fast and precise.
TMGM has incorporated the renowned MetaTrader 4, soon to include its successor as well. Professional traders can also opt for the far superior and much more flexible IRESS platform. The one minor drawback of TMGM is that its educational content lacks breadth.
TMGM Key Takeaways 2022
- We evaluated TMGM across 9 categories (Trust and Stability, Fees, Tradable Instruments, Account Types, Deposit and Withdrawal, Research, Customer Support, Education, and Platform and Tools).
- TMGM earned very high marks in the Account Types, Deposit and Withdrawal, and Customer Support categories. It offers diverse and well-balanced accounts, as well as multiple payment methods. TMGM’s customer support is also very reliable.
- The broker also scored highly in the Research and Education categories due to its informative and practical content, supported by other third-party tools, and a systematic trading course.
- TMGM performed above average in the Trust, Fees, and Platforms categories. The broker is well-regulated and offers very low trading fees.
- The broker performed average in the Tradable Instruments category. It affords many CFDs, but there are no complex instruments like options.
What Sets TMGM Apart from Other Brokers?
There are many benefits to TMGM’s service, like its very low trading fees, high trust level, and excellent customer support, but one thing in particular stuck out to us – its deep pool of liquidity providers. With its access to 7 different providers, TMGM ensures high-quality order execution at the most favorable quotes. Additionally, the broker has its own best execution policy.
But why is any of this relevant? Sydney is one of the two major financial hubs active during the Asian trading session – a time during the day when trading activity increases but still usually falls below the European and American sessions. The Asian session is thus usually underpinned by low overall liquidity, which increases the risk of slippage. But with its deep pool of liquidity providers and sophisticated price aggregation method, TMGM negates this risk to an extent.

Who is TMGM For?
With its varied features, TMGM is equally suited to serve all types of traders. Here is a brief summary of how each kind can benefit from the broker’s services:
- Scalpers and intraday traders. With its commission-free trading, low floating spreads, fast order execution, and no minimum distance requirements for stop-loss orders, TMGM’s conditions are very suitable for such high-frequency traders.
- Day and position traders. Longer-term traders can take advantage of TMGM’s generally low commissions on its ECN (Edge) account type in combination with its raw spreads starting from 0.0 pips. In addition to the above advantages, the broker also incorporates third-party tools from other industry leaders like Trading Central. All of this helps high-volume traders gauge the underlying market sentiment and trade on established price trends.
- High-volume stock traders. Seasoned professionals seeking the best possible conditions to conduct sophisticated analyses of the stock market can sign up for either of TMGM’s IRESS accounts.
TMGM Pros and Cons
Pros | Cons |
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The information provided on this website is general in nature only and does not constitute personal financial advice. Before acting on any information on this website you should consider the appropriateness of the information having regard to your objectives, financial situation and needs. Investing in CFDs and Margined FX Contracts carries significant risks and is not suitable for all investors. You may lose more than your initial deposit. You don’t own, or have, any interest in the underlining assets. We recommend that you seek independent advice and ensure fully understand the risks involved before trading. It is important that you read and consider disclosure documents before you acquire any product listed on the website. The information and advertisements offered on this website are not intended for use by any person in any country or jurisdiction where such use is contrary to the local laws and regulations. Products and Services offered on this website is not intended for residents of the United States.
About the Author
How Do We Rate?
☑️ Regulations | ASIC (Australia), VFSC Vanuatu (Vanuatu), FMA New Zealand (New Zealand) |
🗺 Supported Languages | English, Spanish, Portuguese, Chinese |
💰 Products (CFD) | Currencies, Commodities, Indices, Stocks, Crypto |
💵 Min Deposit | $100 |
💹 Max Leverage | 1:30 (ASIC), 1:500 (VFSC Vanuatu), 1:500 (FMA New Zealand) |
🖥 Trading Desk Type | ECN, STP |
The information provided on this website is general in nature only and does not constitute personal financial advice. Before acting on any information on this website you should consider the appropriateness of the information having regard to your objectives, financial situation and needs. Investing in CFDs and Margined FX Contracts carries significant risks and is not suitable for all investors. You may lose more than your initial deposit. You don’t own, or have, any interest in the underlining assets. We recommend that you seek independent advice and ensure fully understand the risks involved before trading. It is important that you read and consider disclosure documents before you acquire any product listed on the website. The information and advertisements offered on this website are not intended for use by any person in any country or jurisdiction where such use is contrary to the local laws and regulations. Products and Services offered on this website is not intended for residents of the United States.
Trust
TMGM scored above average in the Trust category. The broker has three subsidiaries authorized by regulators with varying levels of protection. The company as a whole is very transparent and trustworthy. TMGM has even issued private indemnity insurance to add an extra layer of protection for its clients.
TMGM Regulations
In our reviews, we examine the licenses and regulations of each entity operated by a broker. This allows us to compare each entity’s 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.
Here is what we found out concerning TMGM’s three entities:
- Trademax Australia Limited is authorized and regulated by the Australian Services and Investments Commission (ASIC). ASIC ranks as a Tier-1 regulator on our system.
- Trademax Global Markets (NZ) Limited is authorized and regulated by the Financial Markets Authority (FMA) in New Zealand. FMA ranks as a Tier-2 regulator on our system.
- Trademax Global Limited is authorized and regulated by the Vanuatu Financial Services Commission (VFSC). The VFSC ranks as a Tier-3 regulator on our system.

We have summarized the most essential aspects of TMGM in terms of regulation and safety in the table below:
Entity Features | Trademax Australia Limited | Trademax Global Markets (NZ) Limited | Trademax Global Limited |
Country/Region | Australia, Sydney | New Zealand, Auckland | Vanuatu, Port Vila |
Regulation | ASIC | FMA | VFSC |
Tier | 1 | 2 | 3 |
Segregated Funds | Yes | Yes | Yes |
Negative Balance Protection | Yes | No | No |
Compensation Scheme | Professional indemnity insurance of up to AUD 2.5 million | Liability insurance of up to $6,000,000 | Professional indemnity insurance of up to AUD 5 million |
Maximum Leverage | 1:30 | 1:200 | 1:500 |
Why is it Important to Know Where Your Broker’s Subsidiaries are Regulated?
A broker may operate multiple entities, and each one is likely to be regulated in a different jurisdiction. Because of certain discrepancies between national and international legislation, each entity is likely to be mandated by its regulator to adhere to different financial guidelines, thus entailing varying levels of protection. That is why it is vitally important for traders to be aware of the type of protection they can expect from each entity.
Here is a breakdown of the essential safety requirements to look for in a broker:
- Segregation of client funds. Keeping client funds in separate bank accounts from the ones used by the broker for its own corporate capital is essential for negating the risk of accounting errors. All of TMGM’s subsidiaries adhere to this requirement. Moreover, the broker works with some of the biggest banks in Australia and elsewhere.
- Negative balance protection. This policy ensures that traders’ losses cannot exceed their account balances. The only TMGM subsidiary providing negative balance protection is Trademax Australia Limited.
- Compensation scheme. A compensation scheme protects the client against the company’s liabilities and credit risk. In the unlikely event that the broker should default on its debt obligations and become insolvent, its clients can be compensated for any incurred losses by this scheme. Even though neither of the three regulators mandates this type of protection, TMGM should be commended for issuing professional indemnity insurance on its own initiative.
- Maximum leverage. On the one hand, the leverage multiplies the potential profits generated by winning trades. On the other, it has the same effect on losing positions. That is why capping the maximum leverage allowed is important for limiting the market exposure of inexperienced retail traders who are especially vulnerable to the risks of margin trading. In that regard, TMGM’s Australian entity ensures the greatest level of protection, with its maximum leverage for retail accounts set at 1:30.
Is TMGM Safe to Trade With?
TMGM is very safe to trade with, and its entity ensuring the greatest level of protection is Trademax Australia Limited. It is authorized by a Tier-1 regulator (ASIC) and provides negative balance protection and segregation of client funds in top-tier banks. And even though ASIC does not mandate a compensation scheme, TMGM has issued, on its own initiative, professional indemnity insurance of up to AUD 2.5 million. Moreover, its operations are periodically audited by an external party.
The broker’s overseas subsidiaries – Trademax Global Markets (NZ) Limited and Trademax Global Limited – are authorized by less stringent regulators, but they, too, entail good overall protection. Their only drawback is that they do not provide negative balance protection. Nevertheless, this is not to the detriment of the overall safety level. The Vanuatu-based entity, for instance, is a member of The Financial Commission. You can read more about that here.
Stability and Transparency
In our tests for the Trust category, we also cover factors relating to stability and transparency. Here, we focus on how long the broker has been in business, how big the company is, and how transparent it is in terms of readily available information.
TMGM was founded nearly a decade ago, in 2013, and has worked continuously to expand its operations globally and improve its services. The company currently employs north of 200 people and has multiple offices in Australia and globally.
TMGM’s website is highly detailed and transparent. Traders wanting to know more about the broker’s services and conditions – for instance, concerning its best execution policy – can check out its lengthy Legal Docs section. TMGM is also fairly straightforward about its fees, and potential clients can examine its live spread rates here.
In summary, our findings indicate that TMGM can be regarded as having a good level of trust and stability due to the following factors:
- TMGM is multi-regulated by at least one top authority.
- It provides multilayered protections even when not mandated to do so by a regulator.
- The broker is fairly transparent.
Fees
TMGM earned an above-average mark in the Fees category. Its spreads are low-to-medium compared to the broader industry, with commission-free trading also being available. The broker also affords swap-free trading through its Islamic accounts. TMGM’s non-trading charges are very favorable, despite a rather high inactivity fee.
TMGM Trading Fees
TMGM’s Spreads
We tested TMGM’s spreads during the most actively traded times – the London open at 8 AM GMT and just after the U.S. open at 2:45 PM GMT. The test was conducted on 19 December 2022.
Instrument | Live Spread AM | Live Spread PM |
EURUSD | 0.9 pips | 0.9 pips |
GBPJPY | 2.6 pips | 2.5 pips |
Gold (XAUUSD) | 15 pips | 24 pips |
Crude Oil | 0.04 pips | 0.04 pips |
Apple | NA | 0.13 points |
Tesla | NA | 0.22 points |
Dow Jones 30 | 4 basis points | 3 basis points |
Germany 40 | 3 basis points | 4 basis points |
TMGM’s Classic account has floating spreads starting from 1.0 pips. Except for indices, instruments from other asset classes generally have spreads below the industry average. Regarding indices, it is also worth pointing out that the spreads on the Dow Jones and DAX tend to increase at times when the local markets are closed. Traders in Australia and elsewhere should be mindful of the impact of different time zones on trading activity.
TMGM’s Swap Rates
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 contract (100,000 units) of the base currency.
Instrument | Swap Long | Swap Short |
EURUSD | Charge of $8.78 | Credit of $3.09 |
GBPJPY | Credit of $2.19 | Charge of $15.23 |
Swap rates may either be to the advantage or disadvantage of a trader, depending on the underlying volatility levels. They change in size and direction over time, so traders – especially high-volume traders – should monitor them periodically.
TMGM’s Commissions
While there are no commissions on a Classic account, TMGM charges a $7 round turn commission per lot on its Edge account. This means traders have to pay $3.5 for opening a position and $3.5 for closing it. This commission is standard for the industry as a whole.
TMGM’s Non-Trading Fees
TMGM does not charge deposits or withdrawals, however, its maintenance fee is quite high. The broker charges dormant accounts with a balance below $500, on which no activity has been registered for a period of 6 months, a maintenance fee of $30.
Are TMGM’s Fees Competitive?
TMGM’s fees are very competitive across the board. With commission-free trading allowed and floating spreads starting from 1.0 pips, the Classic account caters to the needs of high-frequency traders. Accordingly, the Edge account type, with its fixed commissions and raw spreads starting from 0.0 pips, is better suited for high-volume traders.
Platforms and Tools
TMGM scored above average in the Platforms category. Its retail clients can trade on the renowned MetaTrader 4 (MT4), and the broker is also in the process of introducing its successor – MetaTrader 5 (MT5). Professional stock traders can also opt for the much more sophisticated IRESS platform. The broker also incorporates a variety of secondary tools to enhance the overall trading experience.
MetaTrader 4 has pretty much set the standard for what a trading platform is supposed to look like. But over the years, newer and more advanced platforms have been developed, making MT4 look outdated. Despite its rugged design, however, it delivers on practicality. MT4 has a decent amount of trading indicators and drawing tools, allowing for a detailed study of price action behavior from multiple angles.
The mobile app version of MT4 retains the same level of efficiency, for the most part, though its layout is even more simplistic and crude. The mobile app is less suitable for conducting thorough technical analyses and is better fitted to afford traders quick and easy access to the markets on the go.
TMGM does not accommodate copy trading, though Expert Advisors (EAs) – used for automated trading – are available on all account types. TMGM also incorporates HUBx, which is a tool that allows fund managers to manage their clients’ accounts and risk allocations more easily and efficiently.
TMGM’s Desktop MT4 Platform

General Ease of Use
The biggest advantage of MT4 is the simplicity of its design. The charts are positioned in the middle of the screen, account info can be found at the bottom, the watch lists and other trading options are positioned on the left, and the settings menu can be found on the above panel.
Charts
The chart is arguably the most important component of every platform. It is where price action is illustrated, which is why it is so vitally important for a chart to be clear, concise, and informative. The level of sophistication of the chart plays a significant role in shaping traders’ decisions.
We have summarized the most important features of a chart below:
- Trading indicators. MT4 consists of 30 trading indicators, such as trend-based and volume-based indicators and oscillators. These are used to gauge underlying market sentiment and determine key support and resistance levels.
- Drawing tools. The platform incorporates 19 distinct drawing tools, like trend lines, channels, Fibonacci retracement levels, and others. These are used to determine the general market direction, and forecast potential breakouts or breakdowns from an established trend.
- Traders can choose from 9 different timeframes – ranging from 1 minute to 1 month. Though the diversity is not great, it allows different types of traders to exploit various opportunities on the market and examine price action behavior from multiple angles.
- Chart types. There are only 3 chart types on MT4. Price action can be represented either as a line, using bars, or candlesticks.
Orders
And here is a breakdown of the three major order types available on MT4:
- Market orders. Market orders are used for immediate entry at the best possible price. If triggered, they guarantee volume filling, though there could be a discrepancy between the requested price and the price where the order actually gets filled.
- Limit orders. Unlike market orders, limit orders guarantee exact price execution. However, a limit order will not be filled if the price action does not reach the pre-determined execution price.
- Stop loss orders. They are used to support open positions by limiting the maximum loss that can be 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’s Mobile MT4 App
The biggest advantage of a trading app is that it allows traders to stay connected to their accounts and the markets regardless of where they are. This is invaluable when they have to make snap adjustments to their running positions. However, the mobile app version of MT4 looks even clunkier, and its rugged layout becomes even more apparent when it’s run on a smaller-screened device.

General Ease of Use
On the one hand, navigating the app is even easier because its design is even more barebone; it contains only several sections – a watchlist, a charts and orders screen, a news section, and the settings menu. On the other hand, the app looks cramped due to a lack of space. It’s thus unsuitable for conducting complex technical analyses.
Charts
MT4’s mobile app consists of the following features:
- Trading indicators. The app incorporates 30 trading indicators. These can be categorized as trend-based, range-based, volume-based, and oscillators. It is extremely easy for the chart to get cramped with each subsequently added indicator.
- Drawing tools. There are 21 drawing tools, such as trend lines and channels. The above-mentioned problem regarding low resolution is most pronounced when applying drawing tools to a chart on a small-screened device.
- There are 9 different timeframes ranging from 1 minute to 1 month.
- Chart types. Once again, there are only 3 chart settings. Price action can be represented as a line, bars, and candlesticks.
Orders
Here is a breakdown of the different order types that can be executed through the app:
- Market orders. Market orders are used for immediate entry at the best possible price. If triggered, they guarantee volume filling, though there could be a discrepancy between the requested price and the price where the order gets actually filled.
- Limit orders. Unlike market orders, limit orders guarantee exact price execution. However, a limit order will not be filled if the price action does not reach the pre-determined execution price.
- Stop loss orders. They are used to support open positions by limiting the maximum loss that can be 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.
Tradable Instruments
TMGM earned an average mark in the Instruments category. The broker offers 140+ instruments to retail traders from some of the most popular asset classes but no bonds, ETFs, or options. Nevertheless, the IRESS account affords seasoned traders access to 10,000+ shares.
TMGM offers a decent amount of leveraged products (CFDs), affording traders access to multiple markets. The broker has an above-average number of higher-risk assets like indices and cryptocurrencies, which benefits high-volatility traders. However, there is a noticeable shortage of lower-risk securities such as government treasuries.
What are CFDs?
Contracts for difference (CFDs) are derivatives used to speculate on the price of the underlying without physical delivery. For example, a long position on gold would generate a profit as the price rises or incur a loss as it falls. This is achieved without having to purchase actual bars of gold. One of the biggest advantages of trading CFDs is that traders can get in and out of the market almost instantaneously, thereby catching even minute changes in the price of the derivative.
What Can You Trade With TMGM?
Here is a breakdown of the tradable instruments currently available on a Classic TMGM account:
- 56 Currency Pairs
- Majors, Minors, Exotic
- 5 Commodities
- Metals and Energy
- 49 CFD Shares (10,000+ on IRESS)
- S., Australia, Honk Kong
- 20 Indices
- S., Europe, Asia
- 20 Cryptocurrencies
- Majors and Minors
Broken down by asset class and compared to the broader industry, TMGM offers an average number of FX pairs, commodities, CFD shares, and cryptocurrencies; and an above-average number of indices. It is important to point out that the 49 CFD shares are only of American companies. This has certain implications for traders in Australia due to the significant discrepancy between the Asian trading session and the U.S. market open.
Forex | Commodities |
EURUSD | GBPJPY | CADCHF | EURNZD | USDTRY | AUDZAR | EURNOK | Gold | Silver | Platinum | Crude Oil | Brent Oil |
Shares | Indices |
Apple | Amazon | Citigroup | Disney | Alphabet | Coca-Cola | Netflix | Australia 200 | US 30 | US 500, Germany 40 | Russell 2000 | Japan 225 |
Cryptocurrency | |
Bitcoin | Bitcoin Cash | Ethereum, Ripple | Litecoin | Polkadot |
The information provided on this website is general in nature only and does not constitute personal financial advice. Before acting on any information on this website you should consider the appropriateness of the information having regard to your objectives, financial situation and needs. Investing in CFDs and Margined FX Contracts carries significant risks and is not suitable for all investors. You may lose more than your initial deposit. You don’t own, or have, any interest in the underlining assets. We recommend that you seek independent advice and ensure fully understand the risks involved before trading. It is important that you read and consider disclosure documents before you acquire any product listed on the website. The information and advertisements offered on this website are not intended for use by any person in any country or jurisdiction where such use is contrary to the local laws and regulations. Products and Services offered on this website is not intended for residents of the United States.
Customer Support
TMGM scored very high in the Customer Support category. The broker offers reliable 24/7 customer support through several channels and in 10 languages. Different departments of TMGM’s customer support team can be accessed via live chat, email, or phone.
For general queries regarding TMGM’s accounts, services, registration, funding, or others, website visitors can turn to the dedicated FAQ section. And for more specific questions, they can either write or call the support team which usually responds swiftly and in detail.
TMGM’s Customer Support Test
When we test a broker’s customer support team, we evaluate the agents’ knowledge of their own website, how long it takes them to respond to questions, and how detailed their answers are.
We contacted TMGM on 20 December 2022 via live chat, available at the bottom-right corner of the main page. We wanted to inquire about TMGM’s professional indemnity insurance. An agent connected very quickly, and her answers were well-informed and helpful.

Deposit and Withdrawal
TMGM was awarded a very high mark in the Deposit and Withdrawal category. The company’s Australian entity accepts payments with bank cards, wire transfers, and e-wallets, whereas its overseas entities incorporate a wider range of payment methods. More importantly, the broker does not charge deposits or withdrawals.
TMGM Deposit Methods
Method | Processing Time* | Min. Deposit | Currency | Fees |
Visa/Mastercard | Instant | $100 | USD, EUR, GBP, AUD, NZD, CAD | $0 |
Wire Transfer | 1 Working Day | $100 | USD, EUR, GBP, AUD, NZD, CAD | $0 |
POLI | Instant | $100 | AUD | $0 |
RMB Instant | Instant | $100 | CNY | $0 |
*The time it takes the broker to process a transaction once it has been received
TMGM Withdrawal Methods
Method | Processing Time* | Min. Withdrawal | Currency | Fees |
Wire Transfer | 1 Working Day | $100 | USD, EUR, GBP, AUD, NZD, CAD | $0** |
RMB Instant | 1 Working Day | $100 | CNY | $0 |
*The time it takes the broker to process a transaction request
**Third-party banking fees may apply
Payments are processed relatively quickly and without handling fees, though third-party banking fees may apply. It is also worth pointing out that the broker has minimum transaction requirements for both deposits and withdrawals.
Account Types and Terms
TMGM scored very high in the Account types category. It has two retail and three IRESS account types, catering to traders with different experience levels and goals. The two retail accounts – Classic and Edge – have low minimum deposit requirements and trading fees. The IRESS account types are less accessible but more sophisticated.
TMGM’s retail account types are not only quite accessible, but they also offer excellent overall service at low costs. The broker provides deep liquidity, which accommodates precise order execution, and allows traders to exert great control over their positions. For instance, there is no minimum distance for stop-loss orders, meaning traders can apply extremely tight risk management.

Why is Choosing the Right Account Type Important?
Some traders are aggressive, while others are more conservative by nature. They have different styles, goals, and needs, and there is no such thing as a one-size-fits-all type of trading account to satisfy all. Instead, traders should look for accounts that match their specific styles.
For instance, a strategy requiring frequent getting in and out of trades will be executed more efficiently on an account that affords commission-free trading. Accordingly, traders who prefer executing sizable orders that last for longer should better look for accounts with raw spreads.
What Account Types Does TMGM Offer?
Account Type | Retail | Retail | IRESS | IRESS | IRESS |
Account Name | Classic | Edge | Standard | Premium | Gold |
Spreads From | 1.0 pips | 0.0 pips | NA | NA | NA |
Commission | $0 | $7 round turn | Varied | Varied | Varied |
Min. Deposit | $100 | $100 | $5,000 | $10,000 | $50,000 |
Base Currency | USD, EUR, GBP, AUD, NZD, CAD | USD, EUR, GBP, AUD, NZD, CAD | Not Specified | Not Specified | Not Specified |
Islamic Account | Available | Available | No | No | No |
Platforms | MT4, MT5^ | MT4, MT5^ | IRESS | IRESS | IRESS |
No Min. Stop Loss Distance | Yes | Yes | NA | NA | NA |
EAs Allowed | Yes | Yes | NA | NA | NA |
Platform Fee | NA | NA | $35 per month** | No fee* | No fee* |
Data Fee | NA | NA | For Every Exchange | For Every Exchange** | For Every Exchange** |
*If no trades are placed in a month, fees will be charged
**Waived if 10 trades are placed each month
The two retail accounts have low minimum deposit requirements ($100), making them quite affordable to most traders.TMGM also affords a wide selection of base currencies, meaning that traders can choose one based on the types of instruments they plan to trade the most. For instance, it makes sense to select AUD if you plan to trade Australian indices, EUR for some major currency pairs, or USD for American stocks to reduce your conversion charges.
The Classic account affords commission-free trading and has floating spreads starting from 1.0 pips, which is why it is suited for high-frequency traders. Accordingly, the Edge account has raw spreads starting from 0.0 pips and a $7 round turn commission. It is tailored to serve the needs of high-volume traders. The IRESS accounts, in turn, have much higher deposit requirements but offer access to 10,000+ shares and a superior platform.
What is CFD Leverage?
The 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 the leverage. Essentially, the broker lends the trader money so that the latter can open bigger-sized positions. The leverage multiplies the profits a trader generates from winning positions but also the losses incurred from failed trades.
TMGM Account Opening Process
We have listed the steps necessary to open a trading account with TMGM below:
- Step 1. Click the ‘Open An Account’ button found on a banner at the bottom of the main page.
- Step 2. Fill in your personal details, including your name, country of residence, and email address.
- Step 3. Click the conformational link that is sent to your email. Log in to the client portal and resume the registration process.
- Step 4. Choose an account type and its parameters, such as your preferred leverage and password.
- Step 5. Fill in your financial details and complete a suitability test – a questionnaire designed to test your trading knowledge.
- Step 6. Verify your account by uploading a copy of a National ID. You can use your passport, driver’s license, or Australian Medicare Card.

Why is a Demo Account Important?
Demo accounts serve a twofold purpose – introducing traders to a broker’s services and allowing them to tweak their strategies in a risk-free environment. The market is continually evolving, and its underlying conditions are never static, which is why demo accounts are such indispensable tools in the arsenal of every trader.
TMGM Supported Countries
TMGM is not directed at citizens of Indonesia and the United States or any other jurisdiction where local laws prohibit the use of such financial services.
The information provided on this website is general in nature only and does not constitute personal financial advice. Before acting on any information on this website you should consider the appropriateness of the information having regard to your objectives, financial situation and needs. Investing in CFDs and Margined FX Contracts carries significant risks and is not suitable for all investors. You may lose more than your initial deposit. You don’t own, or have, any interest in the underlining assets. We recommend that you seek independent advice and ensure fully understand the risks involved before trading. It is important that you read and consider disclosure documents before you acquire any product listed on the website. The information and advertisements offered on this website are not intended for use by any person in any country or jurisdiction where such use is contrary to the local laws and regulations. Products and Services offered on this website is not intended for residents of the United States.
Research
TMGM earned a high mark in the Research category. The broker has penetrating in-house content in the form of market forecasts. It also incorporates the renowned Trading Central, which is a comprehensive market research tool. The lack of video breakdowns prevented TMGM from scoring higher.
TMGM’s clients, both beginners and advanced, can benefit from the broker’s systematic research content, which underscores both currently developing trading opportunities and broader market trends. This is important because even the best traders cannot keep track of everything that is transpiring on the market, which is why having your daily breakdown can be so helpful.

Research Tools
Here is a rundown of TMGM’s different types of research content:
- Economic calendar. The economic calendar is the backbone of research content. It informs traders of upcoming market events with significant importance. Such events, like major economic releases, usually create interesting trading set-ups.
- News section. Trading Central’s ‘Market Buzz’ feature serves a twofold purpose. It gauges the underlying market sentiment on instruments from various asset classes and provides a live stream of currently unfolding news.
- Market forecasts. Available through TMGM’s blog, the broker’s in-house forecasts provide a broad overview of general market trends. The technical and fundamental aspects of the forecasts are informative, though this type of content would be better if it were supported by charts.
- Trading ideas. Trading Central’s trading ideas underscore potential set-ups on a wide range of instruments by continuously monitoring price action developments. The ideas are supported by charts illustrating key support and resistance levels and price targets.

Education
TMGM scored high in the Education category. The broker has published several highly informative webinars on its YouTube channel alongside a few educational videos. It also has a systematic glossary on its website and a basic trading course. We found TMGM’s content suitable for beginners.
TMGM’s trading course examines some essential topics pertaining to technical analysis, such as how to utilize the most popular trading indicators and strategies. The broker’s YouTube channel contains several penetrating webinars on a range of important topics. It also has 6 ‘how-to’ videos on general topics, such as how to open an account with TMGM.

The Bottom Line
TMGM ranks among the best brokers in Australia, with steadily increasing global exposure. The multi-regulated company has access to a deep liquidity pool ensuring fast and precise order execution. But it’s not only TMGM’s partnerships with other prominent financial institutions that make it such a leader in the derivatives industry.
The broker has very low fees and competitive trading conditions, matched only by its diverse account types and probing research content. TMGM incorporates the renowned MetaTrader 4 (MT4) platform – soon also to include its successor (MT5) – and the seamless IRESS platform, which is tailored for professional stock traders.
And even though TMGM is, overall, a well-balanced broker, there is still room for improvement. The variety of tradable instruments – particularly from some asset classes, such as CFD shares of Australian companies – could be expanded further. The same applies to the scope of its educational content.
TMGM, as a whole, is a reliable broker with licenses by trusted regulators in Australia and elsewhere and services catering to the needs of both beginners and advanced traders alike.
FAQ
The information provided on this website is general in nature only and does not constitute personal financial advice. Before acting on any information on this website you should consider the appropriateness of the information having regard to your objectives, financial situation and needs. Investing in CFDs and Margined FX Contracts carries significant risks and is not suitable for all investors. You may lose more than your initial deposit. You don’t own, or have, any interest in the underlining assets. We recommend that you seek independent advice and ensure fully understand the risks involved before trading. It is important that you read and consider disclosure documents before you acquire any product listed on the website. The information and advertisements offered on this website are not intended for use by any person in any country or jurisdiction where such use is contrary to the local laws and regulations. Products and Services offered on this website is not intended for residents of the United States.
Headquarters Country | Australia |
Foundation Year | 2013 |
Regulations | ASIC (Australia), VFSC Vanuatu (Vanuatu), FMA New Zealand (New Zealand) |
Publicly Traded | No |
Number Of Employees | 272 |
Trading Desk Type | ECN, STP |
Trading platforms | MT4, IRESS |
Restricted Countries | United States, Indonesia |
Supported Languages | English, Spanish, Portuguese, Chinese |
Min Deposit | $100 |
Max Leverage | 1:30 (ASIC), 1:500 (VFSC Vanuatu), 1:500 (FMA New Zealand) |
Deposit Options | Wire Transfer, Credit Card, Poli, Visa, Mastercard |
Withdrawal Options | Wire Transfer |
Time to Withdrawal | 4 |
Time to Open an Account | 9 |
Cryptocurrencies | Bitcoin Cash, Ethereum Classic, Golem, Bitcoin, Cardano, Dogecoin, Litecoin, Ripple, Stellar, Uniswap, EOS, Ethereum, Polkadot, Binance Coin, Chainlink, Tezos |
Products (CFD) | Currencies, Commodities, Indices, Stocks, Crypto |
Demo Account | Yes |
Islamic Account | Yes |
Segregated Account | Yes |
Managed Account | No |