- Types of accounts
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TMGM, officially known as Trademax Global Markets, headquartered in Australia, is a Forex broker that offers high leverage trading in popular currency pairs and CFDs on commodities, stock indices and a very large selection of stocks. In addition to its head office in Sydney, TMGM also has offices in Melbourne, Adelaide and Canberra in Australia, as well as overseas offices in New Zealand, Taiwan and Vanuatu. TMGM broker accepts clients from all over the world with the exception of the USA and some countries under OFAC sanctions.
TMGM - regulated broker?
TMGM Group, founded in 2013, includes three brokerage companies:
- Trademax Australia Limited is located in Australia and is regulated by the Australian Securities and Investments Commission (ASIC);
- Trademax Global Markets (NZ) Limited is located in New Zealand and is regulated by the New Zealand Financial Markets Authority (FMA);
- Trademax Global Limited is located in the Republic of Vanuatu and is regulated by the Vanuatu Financial Services Commission (VFSC).
All customer funds are stored separately from the company's funds in segregated accounts in large first-tier banks. TMGM protects customer funds with a $5,000,000 civil liability insurance program, which includes coverage against errors, fraud and various other risks that can lead to financial losses.
What is the maximum leverage in TMGM?
Since the end of March 2021, ASIC has imposed on the Australian brokerage company TMGM restrictions on leverage up to 1:30 for major currency pairs. In at the same time, a broker in Vanuatu is free from such restrictions, the leverage here is 1:500.
TMGM offers a wide range of trading instruments, including more than 60 currency pairs, 12,000 stocks, 15 stock indices, as well as precious metals, commodities and futures.
Trading platforms offered to TMGM clients include MT4 and MT5, as well as the IRESS web platform. And although both MetaTrader platforms are already very well known among Forex traders, IRESS, which serves stock traders more, is less well known in the community. However, this platform offers several advantages, the most notable of which is integration with the popular TradingView charts and all the technical analysis tools that come with them.
What types of accounts does TMGM offer?
TMGM broker offers two types of trading accounts for MT4 and MT5 platforms:
- EDGE. ECN is an account with narrow spreads from 0 points and a commission of $7 per lot.
- Classic. A classic account with no commission and an average spread of 1 point.
TMGM also offers three types of trading accounts for the IRESS platform:
- Standard. The minimum deposit is $5000. The fee for the platform is 35 USD or 45 AUD per month (canceled when making 10 transactions per month). The commission rate is $2.25 (minimum $10).
- Premium. The minimum deposit is $10,000. No platform fee (if there were no transactions during the month, a commission is charged). The commission rate is $2.
- Gold. The minimum deposit is $50,000. No platform fee (if within a month nthere were no transactions, a commission is charged). The commission rate is $1.8.
What is the minimum deposit in TMGM?
The minimum deposit in TMGM is $100. You can top up your account using an international bank transfer, payment cards such as Visa, MasterCard and UnionPay, as well as electronic wallets Skrill, Neteller, FasaPay. The local payment service POLi is also available in Australia, and customers from China can use AliPay to top up their trading account.
TMGM offers a large selection of stocks that can be traded on the IRESS platform. It is a popular and modern platform specially designed for stock traders, with integrated TradingView charts. However, apart from stocks, the choice of instruments offered by TMGM is somewhat limited. For example, only a few products are offered for trading and there are no cryptocurrencies at all. This is one of the disadvantages of TMGM, which means that this broker may not be the best option for traders who are focused not on the stock market, but on other markets.
Before choosing a broker, we recommend that you read the reviews of TMGM, as well as see our rating of Forex brokers.
|General information of TMGM|
|Year of foundation||2013|
|Regulation||ASIC, FMA, VFSC|
|Trading Platforms||MT4, MT5, IRESS|
|EURUSD Spread||1 pips|
|Base currencies||USD, EUR, GBP, AUD, NZD, CAD|
|Assets||Currency pairs, indices, metals, stocks, futures|
|Deposit replenishment||BankTransfer, Visa/MasterCard, Skrill, Neteller, FasaPay|
|Payment for inaction||—|
- The year of Foundation 2013
- Head office address level 28, One International Tower, 100 Barangaroo Avenue, 2000 Sydney, NSW Australia
- Maximum leverage 1:500
- Min. Deposit $100
- Regulation ASIC
- Trading platform
- Payment system to enter Bank Transfers, Debit/Credit Cards , Skrill, Neleller, Chine UnionPay, FasaPay
- Payment system for withdrawal Bank Transfers, Debit/Credit Cards , Skrill, Neleller, Chine UnionPay, FasaPay
- Number of trading instruments 60
- The number of CFD instruments 12000
- The number of metals 2