TMGM Review 2021

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TMGM Facts & Figures

TMGM is a competitive Australian forex and CFD broker with a wide range of isntruments, features and tools provided at low-cost

InstrumentsCFD, Forex, Crypto, Stocks
Demo AccountYes
Min. Deposit$100
Payment MethodsCredit Card, Debit Card, FasaPay, Mastercard, Neteller, POLi, Skrill, Sticpay, UnionPay, Visa, Wire Transfer
Min. Trade0.01 lots
Regulated ByASIC, FMA, VFSC
MetaTrader 4Yes
MetaTrader 5Yes
STP AccountNo
ECN AccountNo
DMA AccountYes
Mobile AppsiOS & Android
Margin TradingNo
Auto TradingYes
Social TradingNo
Copy TradingNo
Trade SignalsNo
Islamic AccountYes
TMGM offers a massive range of CFD instruments, encompassing more than 12,000 global equities, indices, currency pairs and commodities
FTSE Spread2
GBPUSD Spread0
Oil Spread0
Stocks SpreadVariable

TMGM supports forex trading on all three of its platforms with competitive spreads, no commissions and VPS hosting services

GBPUSD Spread0
EURUSD Spread0
EURGBP Spread0.2

TMGM supports crypto CFD trading for clients from countries where this is legal, pegging each token against the USD

Risk Warning – Your capital is at risk

TMGM (Trademax Global Markets) is an Australian-based broker that is regulated by top-tier global institutions. The firm deals primarily with forex trading but also offers a range of equity and commodity CFDs. This 2021 review looks at TMGM’s main strengths and weaknesses, as well as important information regarding fees, platforms, account types and regulation.

TMGM Headlines

TMGM is an Australian-based global forex and CFD broker. The company was originally founded in 2013 under the name TradeMax but it has been operating under TradeMax Global Markets (TMGM) since 2020.

The broker operates in over 150 countries. Its headquarters are in Sydney and it has additional offices in Melbourne, Brisbane, Adelaide and Canberra, as well as regional offices in New Zealand, Vanuatu, Taiwan, Limassol and the Philippines. The company’s CEO is Lee Yu.

In 2020 TMGM’s total platform trading volume hit $195 billion, ranking it as one of the top ten forex brokers in the world by trading volume. In 2021, the broker became partners with the Australian Open Tennis Tournament and famous Italian goalkeeper Gianluigi Buffon.


TMGM is primarily a forex broker but also offers a range of other CFD instruments including crypto, shares, indices, energies and metals. Liquidity and fast execution are guaranteed by more than ten tier-1 liquidity providers and the NY4 and TY3 Equinix Servers.


TMGM offers three trading platforms: MetaTrader 4 (MT4), MetaTrader 5 (MT5) and IRESS.

MetaTrader 4

MT4 is one of the most widely used trading platforms on the market. It provides all the most essential features and is suitable for both novice and experienced investors. MT4 users have access to nine timeframes, over 2,000 technical indicators and 1,700 trading robots. Expert advisors (EAs) and MT4’s automation capabilities are partly why the platform is so popular. MT4 is good for forex trading but it does not give access to TMGM’s full range of CFD shares.

MetaTrader 5 (MT5)

MT5 is the next generation of MetaQuotes platforms. Whilst largely similar to its predecessor, MT4, the platform has a few more advanced options and several underlying efficiency upgrades. These include additional timeframes, a larger variety of tools and depth of market (DOM) pricing.

TMGM low-cost online broker with an Australian founder and headquarters
MetaTrader 5 Platform


IRESS is an advanced trading platform that works on all browsers. The software is designed for professional traders and, as such, has additional fees and a minimum deposit requirement of $5,000. Some of the advantages of the IRESS platform include access to TMGM’s full range of CFD shares, Direct market access (DMA) and real-time price streaming for US customers. The site uses a highly customisable modular interface that includes over 50 indicators and advanced charting abilities through TradingView.

TMGM sophisticated trading tools include IRESS platform
IRESS Platform

Mobile App

MT4 and MT5 are also available to download as mobile apps for Android and iOS devices. The apps are reliable, user-friendly and have access to most of the features and functionalities of the desktop and web-based versions. However, some charting and analysis tools are not supported and automation through APIs must be set up via the desktop client.

Account Types & Fees

Before you sign up for TMGM, you will need to choose your account type. There are several offered, each catering to different strategies and experience levels. We have broken down each account type below to help you decide:


The classic account is available on MT4 and will be soon available on MT5. There is a minimum deposit of $100. No commission fees are charged on the classic account and spreads start at 1.0 pips. Users have access to the full range of forex pairs, commodities and indices.


TMGM offers a swap-free account for clients of the Muslim faith. It is available on Edge accounts only and does not receive or pay any interest/swap charges on overnight positions. There is a small financing fee for certain instruments, which mostly ranges between $10 – $20. However, the financing charge for EUR/TRY and USD/TRY is $100.

This account is available for clients in Azerbaijan, Bangladesh, Burkina Faso, Bahrain, Brunei, Brunei Darussalam, Algeria, Egypt, Guinea, Indonesia, Jordan, Kyrgyzstan, Kuwait, Morocco, Mauritania, Maldives, Malaysia, Niger, Oman, Pakistan, Palestinian Territory, Qatar, Sierra Leona, Chad, Tajikistan, Turkmenistan, Tunisia, Turkey, Uzbekistan and Kosovo.

IRESS Accounts

Three account types support the use of the IRESS platform:


TMGM’s full range of CFD shares is only available on IRESS accounts. The standard account has a minimum deposit of $5,000. There is a platform fee of USD 35/AUD 45 per month but this is waived if ten or more trades are placed each month. The commission rate is 2.25 (cps) and there is a minimum commission charge of $10. The minimum trade size is 333 shares.


The minimum deposit for a premium account is $10,000 and there is no platform fee, though charges will be incurred if no trades are made in a month. The commission rate is 2 (cps) and there is no minimum commission or trade size.


The gold account has a minimum deposit of $50,000. There are no platform fees and the commission rate is 1.8 (cps). Like the other accounts, fees will be charged if no trades are placed in a month.

Note, TMGM accounts will be charged a $30 inactivity fee per month if your account balance falls below $500 or if no trades are placed in six months.

Demo Account

Demo accounts are available from TMGM with the MT4 platform. You can choose between three funding amounts: $5,000, $10,000 and $50,000. You will have access to the demo account for 365 days but, if there is no activity for six months, you will lose your access. Unfortunately, there is no practice account for the IRESS platform, so you cannot test it out before purchasing it.

VPS Service

TMGM offers a full VPS service through a partnership with ForexVPS. This is a reliable solution for clients running EAs and signals on MT4. The basic VPS service is available for free for new clients but a minimum deposit of $3,000 is required. This will allow you to run three MT4 platforms simultaneously with a latency of 1ms and guaranteed 100% uptime. For the high-frequency VPS service, a deposit of $20,000 is required.

Opening An Account

It is relatively straightforward to sign up with TMGM and the process is entirely digital.

  1. You will need to provide contact and personal information. This includes an email address, phone number, date of birth and address. You will also need to create a password to use every time you login to the broker’s portal.
  2. Choose your account type and base currency. You can choose from USD, EUR, GBP, AUD, NZD & CAD.
  3. Before trading, you will need to verify your identity and address by uploading a copy of your passport/ID and a bank statement or utility bill.

The online application takes around 15 minutes to complete and approval usually happens within one business day.

TMGM Rewards

By opening an account, you will automatically join TMGM Rewards. This is a point-based loyalty system that rewards users with 10 points for every lot traded. Rewards start at 600 points and include Apple devices and cashback up to $2,500.TMGM rewards program and bonus 50 dollars

The TMGM Rewards programme is available in a wide range of Asian, African and Eastern European countries.


If you are trading with TMGM in Australia, leverage limits are set by the ASIC. Leverage for forex pairs is capped at 1:30 for majors and 1:20 for minors. This is in line with regulators in the UK and Europe. Professional traders in Australia can access leverage of 1:400 for both major and minor pairs.

Traders in New Zealand fall under the jurisdiction of the FMA. This agency caps leverage at 1:200 for forex and precious metals and 1:100 for indices and energies. Traders outside of Australia and New Zealand can use up to 1:500 leverage.

It is important to keep in mind that using leverage is essentially borrowing capital from your broker. While it does increase your exposure, it can lead to magnified losses.

Deposits & Withdrawals

As mentioned earlier, any TMGM account using MT4 will require a minimum deposit of $100. Minimum deposits on the IRESS platform start at $5,000.

Accepted payment methods with TMGM include bank wire transfer, debit cards and credit cards from Visa, MasterCard and UnionPay, alongside the e-wallets Skrill, Neteller, SticPay, FasaPay, POLi, RMB Direct Pay and Revolut. The minimum withdrawal is $100. Withdrawals can be made using any of these methods and will incur no fee.

TMGM has been known to offer a $50 no deposit bonus (NDB) to new trading customers. These promotions are time-sensitive, so be sure to review the broker’s website for terms, conditions and up-to-date information.

Customer Support & Education

TMGM offers support via live chat, email and telephone. This is available 24 hours a day, five days a week. TMGM support is not available at weekends. The live chat feature is very active and response times are low. The representatives are knowledgeable and you can receive help in over ten languages, including English, Chinese, Vietnamese, Portuguese, Spanish, Thai, Arabic, French, Indonesian, Italian and Filipino.

You will usually receive email responses from a helpful member of the team within 24 hours but telephone support is less reliable.

The firm is active on YouTube, Facebook, Twitter, Instagram and LinkedIn regularly posting news, tutorials and career opportunities, such as internships. Brand ambassador, Gianluigi Buffon, regularly hosts online webinars which are free to register for.

TMGM also offers a training feature called TMGM Academy. The academy is a three-stage education course that guides novice traders through the basics of trading to more advanced strategies such as moving averages and Fibonacci extensions.

The broker is known to run trading competitions, which usually run for three months. The leader board is updated daily and the trader ranking highest at the end of the three months will be rewarded from a pool of up to $90,000. You can find full rules and terms and conditions on the website

Security & Regulation

Trademax Australia Limited (ABN 76 162 331 311), trading as TMGM, is regulated by the Australian Securities and Investments Commission (ASIC). The ASIC is a top-tier regulator and works with the Australian Financial Services Authorization to protect the interests and rights of consumers. ASIC protocol means all TMGM clients have their funds held in segregated accounts.

For traders in New Zealand, TMGM holds a derivatives license with the Financial Markets Authority (FMA). TMGM TradeMax Global Limited (registration number 40356), trading as TMGM, is authorised and regulated by the Vanuatu Financial Services Commission (VFSC). This caters to individuals and businesses from around the world. Note, US clients are not accepted. ASIC, FMA and VFSC do not provide investor protection, which means you are not entitled to compensation if the firm goes bust.

Pros Of TMGM

Cons Of TMGM

TMGM Verdict

TMGM offers excellent trade execution, low fees and a massive range of CFD products encompassing forex, stocks, cryptos, indices and commodities. With competitive trading platform offerings combining MT4, MT5 and the firm’s advanced proprietary platform, alongside several rewards and bonus programmes and a free VPS, there is little TMGM does not provide. If you are interested, you should check out the broker’s MT4 demo account to trial the services, assets and features on offer.

Accepted Countries

TMGM accepts traders from Australia, Thailand, Canada, United Kingdom, South Africa, Singapore, Hong Kong, India, France, Germany, Norway, Sweden, Italy, Denmark, United Arab Emirates, Saudi Arabia, Kuwait, Luxembourg, Qatar and most other countries.

Traders can not use TMGM from United States.

Alternatives to TMGM

If you are looking for alternatives to TMGM we have compiled a list of the top 5 brokers that are similar to TMGM below. This list of brokers like TMGM is in order of similarity and only includes companies that accept traders from your location.

  1. Rockfort Markets – Rockfort Markets is a New Zealand broker with a competitive range of assets, trading platforms and market conditions.
  2. Exinity – Exinity provides flexible low-cost trading in FX, commodities, indices and equities alongside unique education and support provided by teams located across the world. Now operating in the Middle East, through regulation from the Financial Services Regulatory Authority in Abu Dhabi and the Financial Services Commission of Mauritius, Exinity provides a range of services to traders and investors looking for new opportunities in the financial markets.
  3. EagleFX – EagleFX is a popular trading broker offering forex, stocks, cryptos & commodities.
  4. ZuluTrade – Zulutrade provide multiple automation and copy trading options across forex, indices, stocks, cryptocurrency and commodities markets
  5. – boast a global reputation. Regulated in the UK, EU, US and Canada they offer a huge range of markets, not just forex, and offer very tight spreads and a cutting edge platform.


Is TMGM Regulated?

Yes, TMGM is a legitimate broker regulated in Australia by the ASIC, in New Zealand by the FMA and in Vanuatu by the VFSC. With top-tier regulation like this across the globe, you can be sure TMGM is not a scam.

Does TMGM Offer An Islamic Account?

Yes, TMGM offers a swap-free account on which no interest fees are charged on overnight positions. This is only available on the Edge account type and certain instruments will incur a financing fee.

Is TMGM Right For Me?

If you are a forex trader, TMGM’s fees are generally low and in line with competitors like Pepperstone and Fusion Markets. There are also zero deposit and withdrawal fees and a wide range of accepted payment methods.

What Is The Minimum Deposit At TMGM?

TMGM Classic and Edge accounts use MetaTrader 4 and 5 and have a minimum deposit of $100. Deposits for the advanced IRESS platforms start at $3,000.

What Payment Methods Are Accepted At TMGM?

You can deposit and withdraw from your TMGM using several methods. These include Wire transfers, credit and debit cards, RMB Direct Pay, POLi, Neteller, Skrill, UnionPay, Fasapay and Sticpay.

TMGM is a competitive Australian forex and CFD broker with a wide range of isntruments, features and tools provided at low-cost

TMGM vs Other Brokers

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