TMGM Review 2020
TMGM is an ECN broker that offers forex trading and CFDs on metals, indices, energies, commodities, crypto and shares, through the MetaTrader 4, MetaTrader 5, Iress and HubX trading platforms. The broker provides enhanced executions speeds with deep liquidity and a minimum deposit of $100.
TMGM Review 2020, Pros & Cons
- Strict regulation
- Sophisticated MetaTrader 4, Iress & HubX trading platforms
- Free VPS
- MAMM service
- Cannot accept US clients due to US regulations
- Limited educational resources
In this detailed TMGM review, our online broker research team has covered some of the most important aspects for you to consider when choosing the best broker for your online trading needs.
TMGM is not ranked in our best forex brokers, best stockbrokers, best CFD brokers, best crypto brokers, or best online brokers categories. You can use our free broker comparison tool to compare online brokers including TradeMax.
TMGM Review: Summary
TMGM is an online broker offering forex and CFD to individual retail traders and professional institutions. They provide clients with the sophisticated MetaTrader 4, MetaTrader 5, Iress and HubX trading platforms for trading multiple tradable assets, such as CFDs on forex currency pairs, commodities, indices, metals, energies, cryptocurrency and shares.
The broker implements the ECN execution model and offers a leverage of up to 1:500. They have a highly professional and independent technical team and offer a selection of different account types to meet trader’s individual needs and the minimum deposit is $100
TMGM Review: Regulation
Trademax Global Limited, trading as TMGM, is a financial services company and regulated by Vanuatu Financial Services Commission (VFSC), with the license number 40356.
Trademax Australia Pty Ltd, trading as TMGM, is authorized by Australia Security and Investment Commission (ASIC) with an Australia Financial Services License 436416.
TMGM hold clients’ money in a ‘pooled’ client trust account and is strictly separated from the company funds.
TMGM Review: Countries
TMGM allows traders from different parts of the world to open an account with them if their countries of residence permit online trading with international brokers. However, they specifically state on their website that they do not offer their online trading services to residents of the United States.
Some TMGM broker features and products mentioned within this TMGM review may not be available to traders from specific countries due to legal restrictions.
If you are looking for a trading broker in a particular country, please see our best brokers USA, best brokers UK, best brokers Australia, best brokers South Africa, best brokers Canada or our best brokers for all other countries.
TMGM Review: Trading Platforms
The broker provides its clients with the intuitive and user-friendly MetaTrader 4 and MetaTrader 5 platforms in addition to the Iress and HubX trading platforms.
MetaTrader 4 (MT4)
MT4 is one of the most popular trading platforms in the market. The MT4 patform is replete with tools to help analyze the financial markets. It provides traders with live price feeds, technical charts, analytical tools, and up-to-date financial news to ensure that the traders are aware of what is happening in the market at all times. TMGM provides the MT4 trading Platform in the following versions:
MT4 Desktop Platform
This is a desktop application for Windows computers. It offers a clear and user-friendly interface with many customizable charts and dozens of technical indicators. The MT4 Windows gives you access to your trade positions and other account information.
MT4 Web Platform
The MetaTrader 4 web platform allows you to trade directly through most modern web browsers without the need to download or install any additional software. The web platform can be accessed by simply logging into the broker’s client portal. Some features of the MT4 Web platform includes:
- All types of trading orders and MT4 execution modes
- One-Click trading
- 30 indicators and 24 graphical objects for technical analysis
- Real-time quotes in the market watch
MT4 Mobile Platform
The TMGM MT4 platform has a mobile app, which is compatible with iPhone/iPad and Android devices; it enables clients to trade from anywhere and at any time. The mobile app is customized and has the following features:
- Full control over any trading accounts
- Accessible from anywhere, provided there is an internet connection.
- Full execution types and modes
- Full charting timeframes and more than 50 indicators and analytical tools.
MetaTrader 5 (MT5) is the follow up platform to MetaTrader 4. It maintains most of the same features and functionalities as its predecessor, with some more advanced functionalities. This includes depth of market (DOM) pricing, additional order types and chart timeframes, larger selection of trading tools, multi-currency strategy tester and more.
Iress Trader is a web-based online trading platform that dynamically streams market data across multiple product types and exchanges. By combining access to full market depth, an enhanced in-house charting system with live news flows, Iress Trader provides everything you need to try and maintain your edge in the market.
HUBx is a bespoke platform created from scratch by TMGM with fund managers and their clients in mind. With its cutting edge futuristic functions, it helps fund managers manage their clients along with their risk allocations more efficiently and easily. It’s advanced portfolio adjustment tools help clients take full control of their investments in an easy and intuitive manner.
HUBx’s smart logs and journals keep track of all important transaction information – this provides a truly transparent environment for clients to monitor their trading performance.
TMGM Review: Trading Tools
Free VPS & MAMM Service
VPS (Virtual Private Server) hosting allows traders to run their trading platforms and expert advisors 24/5. Professional traders who meet the brokers minimum requirements can make use of the service. Should you become a money manager, you can also enjoy the MAMM service. HUBx brings advanced portfolio management controls to the hands of its users. Clients can easily monitor and manage their positions along with adjusting their risk allocations.
Dedicated Account Manager
The dedicated account managers are equipped to provide clients with any assistance they may require, and clients can communicate in their preferred method: face to face, over the phone, emails, or any other messaging service.
The VIP Desk helps traders in tailoring their trading accounts to meet their demands; whether it be specific pairs going through the different liquidity providers of your choice, the VIP desk provides you with a solution.
TMGM Review: Education
We could not find an educational section on the brokers website. We would have personally like to have seen some trading guides, video tutorials and market news articles.
TMGM Review: Trading Instruments
TMGM offers multiple trading instruments across different asset classes, including forex, commodities, indices, and more. There are several major, minor, and exotic currency pairs up for trading. TMGM Australia offers a wide array of commodity CFDs that can be traded through the MT4 platform, allowing you access to these markets at your convenience no matter where you are in the world. Commodities offered include Gold, Silver, Platinum, WTI, and Brent. The broker also offers many types of Indices, such as the Dow Jones Industrial Average (DJIA), S&P 500, and FTSE 100 Index. There are also crypto and share CFDs on the Iress platform.
TMGM Review: Trading Accounts & Fees
TMGM offers the edge and classic account. The minimum deposit starts from $100 whereas flexible leverage of up to 1:500 is available. One account does not charge a commission but has higher spreads whereas the other does have a commission charge of $7 per round turn but tighter spreads. Both accounts have ECN execution with a minimum 0.01 lot size.
Islamic accounts that comply with Sharia law are available as are demo trading accounts which enable you to practice trading online with virtual funds. This can be a useful way to familiarise yourself with the brokers platforms and services.
As broker fees can vary and change, it is imperative to ensure that you check and understand all of the latest information before you open a TMGM broker account for online trading.
TMGM Review: Customer Service
The broker offers a knowledgeable customer support team who are on hand to give prompt response to clients’ inquiries. They can be reached via telephone, email and online chat. There is also a frequently asked questions (FAQ) section on the broker’s website, which gives detailed answers to some traders’ common questions. Support is available in English, Vietnamese, Thai, Spanish, Portuguese, Italian, Arabic and Chinese.
TMGM Review: Deposit & Withdrawal
TMGM accepts a range of payment methods for account funding and withdrawal, this includes Bank transfer, Credit/Debit cards, RMB Direct pay, POLi, Neteller, Skrill, UnionPay, Fasapay and Sticpay.
Withdrawals submitted before 4 pm Sydney time are normally processed on the same day (1 business day or less). Withdrawals submitted after 4 pm are processed the next business day.
TMGM strictly does not accept third-party payments. All funds deposited into your trading account must be under the same name as your TMGM trading account.
TMGM Review: Account Opening
To open a TMGM Global Account, you first open the brokers website, then, click on ‘get started’ on the top right corner and fill in the necessary details for registration and submit. Once you open the account you receive the Web login and the Warning Notice. The MT4 information you only receive later, when your account is approved.
TMGM does not charge any fees for opening an account. It is imperative to ensure that when you are going through a broker application, you clearly read all of the brokers terms, conditions and policies. Only proceed if you fully understand and agree to them.
TMGM Review: Conclusion
TMGM is a regulated ECN broker that offers forex and CFD to individual retail traders and professional institutions. They provide clients with the sophisticated range of powerful trading platforms, along with a range of useful trading tools. They offer enhanced executions and deep liquidity.