TMGM Broker Reviews and Full Information

What is TMGM?

TMGM is a global broker providing traders with access to CFDs for Forex, Metals, Energies Indices, Shares, Indices and CryptoCurrencies. Since the start of expansion, TMGM group started its operations in Australia in 2013, when it received their licence from ASIC to offer OTC forex and derivative trading. For years of progress and constant striving, the company has brought constant as well as secure DMA (Direct Market Access) trading environment with no human involvement.

10 Points Summary

Education

In addition to providing customer assistance, TMGM offers a unique feature known as TMGM Academy. By taking advantage of this feature, the TMGM Academy, you can discover the basics and pitfalls of trading forex. Three stages are to choose from, Beginner Stage, Intermediate Stage and the Advanced Stage. It is comprised of three stages:

• The beginning stage helps you prepare for the journey to forex trading. The Beginner Stage builds a solid foundation on the basis of understanding margin tradingand the ability to read different kinds of charts, and the introduction of trading tools, oscillators indicators and support and resistance.
• The TMGM Academy's Intermediate Stage begins to focus on the more the technical aspects of forex trading. This includes looking at indicators like MACD, RSI, ATRs Moving Averages, ATRs, and other. Furthermore, TMGM introduces Fibonacci and Fundamental analysis, as well as practical ways to utilize these indicators in trading.
• This Intermediate Stage of the TMGM Academy is where traders learn about a variety of trading strategies and ways to implement them. This is where they learn about advanced versions that include Fibonacci Extensions and Retracements RSI correlation, as well as trading management.

Is TMGM secure or is it is it just a scam?

TMGM is a secure broker to trade with due to its status as a regulatory entity, because Trademax Australia Limited is an organisation that provides financial services and is governed by the Australian Securities and Investments Commission (ASIC)which is a strict adherence to guidelines. ASIC regulations are extremely strict. ASIC Regulation is one of the most strict authorities around the world, ensuring the security and stability of guidelines , while also protecting the consumer.

Additionally, there is an TradeMax Global Limited entity which is a legal entity of Vanuatu one of the offshore zones. We generally don't suggest dealing with brokers operating offshore due the lack of regulations, due to TradeMax holds a separate licensed that is reputable, it is secure to trade with them.

How can you be protected?

In addition, there are many rules to follow before a broker establishment, among them are the capital requirements, which must meet the strict internal and risk management procedures that have sufficient cash equivalent which ensures the reliability of the broker. The funds of clients are stored in a trust account that is segregated at National Australia Bank (NAB) in addition to the investors who fall under the umbrella of Professional Indemnity Insurance which provides compensation upon the broker's bankruptcy.

Trading Platforms

A variety of products offered by different subsidiaries of the group can be used by traders with different preferences. The selection comprises hundreds of currency pairs, Commodities and Indices Futures and Cash DMA Stocks Options Bonds and ETFsthat can be accessed via the trading platform, which is the most popular trading platform MT4. It is accessible through mobile, PC and Web versions.

Additionally, it comes with the built-in platform IRESS. It makes IRESS superior to MetaTrader 4. If you are planning to trade shares because IRESS lets you trade on exchanges within the following countries: United States, Australia, The United Kingdom, Hong Kong, China and Singapore.

Another advantage that comes with IRESS can be that it can provide market depth and exchange pricing. This is due to the fact that IRESS utilizes Direct Market Access (DMA) trading. DMA is a reference to can access Level 2 Market Depth Book pricing, meaning that you can see live orders from liquidity providers that are connected with the trading platform. MetaTrader 4 does not offer DMA.

The most important thing to keep in mind is the high deposit of $5,000 USD. This means that IRESS is intended for the most serious of traders. To utilize IRESS you'll need an IRESS account. The minimum deposits required for IRESS are quite high, as DMA trading is typically for professionals. The costs will differ among stock exchanges. Below are prices for US exchanges.

Account

TMGM provides various trading accounts that supply the functions and features that you require regardless of the level of your experience in trading is. No matter if you're an investor for the long term or day-trader TMGM offers an account that is specifically designed to meet your requirements. The account holders can choose between two options: a classic TMGM account as well as the edge TMGM Edge Account.

The TMGM Classic account type allows spreads starting at 1 pip. But, there are no commissions that are charged, as it's already part of the spread. Classic accounts are a great option for investors who want to stay spread-free. Classic Account type of account is suitable for those who prefer to employ long- or mid-term strategies that aren't dependent on spreads. Classic features of the account include:

• No commission
• 0.01 minimum size of lot
• ECN execution
• Hedging and scalping permitted
• Free money
• Base currencies are: AUD EUR, CAD, GBP NZD, USD and USD.

In comparison, the TMGM Edge account offers the most competitive spreads and begin at 0 pips. The account charges $7 for a round-turn commission ($3.50 one-way) for every normal lot. This account is called the Edge account can be described as the one which most closely resembles ECN trading because there isn't a dealing desk. This means that you can get ECN pricing since spreads originate from direct liquidity providers without involvement from TMGM. If you're an investor who wants TMGMs most streamlined spreads, this is the perfect type of account for you.

Accounts with no swap fees

If you are unable to pay for or earn interest because of your beliefs in religion, TMGM also offers a Swap-Free account. The Swap-Free account is only available for Edge accounts, which is why they require a 100-dollar minimum deposit as well as the 0.01 lot size minimum.

Demo Account

If you'd like to test trading before registering accounts, then you are able to use the demo accounts offered by TMGM. They offer virtual money which allows you to learn about the features and services offered through the company. It also offers an opportunity to know as much as you can about TMGM prior to opening the account.

Demo accounts on an MetaTrader four trading platform (which we'll discuss shortly) are able to use the platform for all 365 days. But, your access is terminated when there's nothing happening for six month. There are three different amounts of funding for your demo account that are $5,000, $10,000 and $50,000.

Leverage

When trading Forex you can leverage your investment which lets you profit from the fluctuation in rates by utilizing a an increased trading size in relation to the initial balance. Leverage is a type of loan offered to a trader by a broker that can boost potential profits. However it is important to learn to make use of the tool in a responsible manner and not put yourself in risky transactions.

The leverage you can avail will depend the country you are trading in New Zealand/Australia or these countries.

• In Australia in Australia, where TMGM is controlled by ASIC The maximum allowed leverage for major forex pairs is 1:30 , while the minor pair is 1:20. This is consistent the regulations of European as well as UK regulators. If you're an experienced trader using the TMGM platform numbers increase to 1:400 for Major and Minor forex pairs.
• The case of New Zealand where TMGM is managed by FMA The maximum permissible leverage is 1:30 in the case of forex.
• If you trade using TMGM and reside outside of these two countries, the maximum leverage you can get when trading forex is 1:500.

Deposit and Withdrawal Methods

The easy and efficient funding of your account is possible through numerous secure methods that have no transaction cost and include Transfers via BankWire, Card transactions, PayPal, UnionPay, POLi and Fasapay. The currency used for the account base is the choice of the trader, which implies that all transactions between and within the accounts for trading will be made using the currency you choose, making it a simpler process.

Is there a minimum amount of money for TMGM?

Minimum deposit for opening an account is $100. However, higher amounts may be required in order to make an exchange. This is due to the fact that you still be required to meet the margin requirements. The Classic account doesn't charge an additional commission, but you'll see greater spreads. In contrast, Edge accounts require a $7 commission and have smaller spreads. Whatever type of account that you choose, you'll get ECN execution, with the 0.01 amount of lot.

Conclusion

Overall The review focused on the brokerage Group which aims to provide the most advanced technology for everyday Forex trading. In terms of rules and efficacy, the TMGM group has maintained secure trading in accordance with the strict regulations of ASIC which means that traders are protected by a variety of methods.

However, we'd be delighted to hear your opinion on TMGM. Share your experiences or contact us for more details by commenting below.