TMGM Review 2025

Pros

• The platform has top-tier support for MetaTrader 4, MetaTrader 5, and IRESS trading systems.
• Enjoy low trading fees. Classic account holders have spreads starting from 1 pip. For raw spread accounts, you'll have zero spreads with a $7 round-trip commission.
• A well-managed, respected brand with a strong customer base.
• The loyalty system offers a variety of bonuses and rewards through points-based trading.
• Get a free VPS for automated trading.

Cons

• A $30 monthly fee applies to trading accounts that are either inactive for over 6 months or contain less than $500.
• Shares can only be traded on the IRESS account and are not tradeable through MT4 and MT5.

Regulation & Trust

TMGM (TradeMax Global Markets) is a global forex and CFD broker based in Australia. Founded in 2013 and rebranded in 2020, it is headquartered in Sydney and operates in over 150 countries, with offices in Australia, New Zealand, Taiwan and Cyprus.

With trading volumes exceeding $220 billion, TMGM is recognized as a major player in the forex market. It also partners with high-profile names like the Australian Open and Chelsea FC.

TMGM is regulated by the Australian Securities and Investments Commission (ASIC), the Vanuatu Financial Services Commission (VFSC), the Capital Markets Authority (CMA) in Kenya and the Financial Services Commission (FSC) in Mauritius.

It maintains segregated client funds and undergoes regular audits to ensure compliance, but does not offer investor compensation in case of insolvency as none of its regulators provide protection schemes.

It also does not accept US or UK clients, and its bottom-tier VFSC and FSC licenses may concern those wary of offshore regulation.

Accounts & Banking

Live Accounts

TMGM offers two account types tailored to different trading needs and experience levels. It reminds me of brokers like Pepperstone or IC Markets, which also try to cater to beginners and more active traders.

I began with the Classic account, which seemed like the most accessible option. It only requires a $50 deposit, and since it’s commission-free, I don’t have to worry about extra costs eating into my trades.

Spreads start at around 1.0 pip—not the tightest we’ve seen, but fair for a no-commission model. You can trade across a wide range of markets with micro lots (0.01) up to 1:1000 leverage, all from one account.

Later, I tested the Edge account to compare it. The key difference here is the pricing: spreads start from 0.0 pips, but there’s a $3.50 commission per side or $7 round trip. That’s in line with most ECN-style brokers.

The tighter spreads from TMGM made a noticeable difference in my scalping strategy, even with the commission.

Both the Edge and Classic accounts can be swap-free for Muslim traders, though some instruments come with a small financing fee, which is something to keep in mind.

Opening my TMGM account was quick and easy. The entire process was digital—I filled out my contact details, selected the account type and base currency (they support USD, EUR, GBP, AUD, NZD, and CAD), and uploaded my ID and proof of address.

It took around 15 minutes, and I was verified within one business day, faster than I’ve experienced with other brokers.

You can deposit a minimum of $50 fee-free via bank wire transfer, debit card, credit card, or e-wallets like Skrill, Neteller and FasaPay. Withdrawals also start at $50 with no fee.

Demo Accounts

Like over 90% of brokers we’ve evaluated, TMGM offers demo trading accounts.

Setting one up is easy, and you can choose from preset balances of $5,000, $10,000, or $50,000, which makes it simple to simulate different trading scenarios depending on how aggressive you want to be.

Sadly, demo accounts are archived after 30 days, so it’s worth keeping that in mind if you like to practice on and off.

Assets & Markets

TMGM’s range of forex and CFDs goes well beyond the basics. Compared to brokers like IC Markets, which offer solid multi-asset platforms, TMGM’s variety feels broader, especially regarding stocks and commodities.

You have access to over 10,000 stocks from exchanges like the NYSE, Nasdaq, ASX and HKEX, which makes it easy to diversify into equity CFDs when you don’t want to focus solely on the 50+ available currency pairs.

You can also speculate on energy markets like crude oil and natural gas. I appreciate how seamlessly I can switch between asset classes—15+ indices like the S&P 500 or FTSE 100 or precious metals like gold and platinum.

Even the crypto offering is decent, with around a dozen major coins, including Bitcoin, Ethereum and Litecoin. Some brokers only cover the top two or three cryptos, so it’s a nice bonus.

From a performance standpoint, TMGM impresses. The platform connects to over 10 top-tier liquidity providers and uses NY4 and TY3 Equinix servers, which means trades execute quickly and with minimal slippage—even during high volatility.

I noticed this, especially during major news events, where spreads stay relatively tight, and my orders are filled quickly.

Leverage options are a bit more complicated, and they vary depending on where you’re located. If you trade in Australia, for example, you’ll most likely be under ASIC regulation, which caps leverage at 1:30 for major forex pairs and 1:20 for minors.

It’s a bit limiting if you’re used to high leverage, but it’s in line with what regulators like the FCA or ESMA require in the UK and Europe.

If you’re trading from outside these regions, you can access up to 1:500 leverage—similar to what you’d find with offshore brokers like Exness or FXTM.

It’s worth remembering, though, that higher leverage cuts both ways. Sure, it can magnify profits, but it also ramps up the risk, especially in fast-moving markets.

Fees & Costs

Spreads and commissions are competitive. Depending on the account type, spreads can start from 0.0 pips, ideal for scalping or trading during high-liquidity sessions.

For example, I regularly see EUR/USD spreads around 0.3 pips on my Edge account, which is very respectable. GBP/USD is usually wider, averaging around 1.4 pips but within a reasonable range.

What stands out even more is the pricing on commodities—particularly energies. I traded crude oil CFDs a few times at TMGM and noticed the spreads were often razor-thin, sometimes even hitting zero.

I’ve not consistently seen that kind of tight pricing on every platform, and it makes TMGM seem like a cost-effective option.

Spreads on other instruments—like indices and metals—are variable, which is typical. It’s worth noting that while spreads are low, you still have to factor in commissions on certain accounts.

For instance, you pay $3.50 per side on the Edge account, which is $7 round-trip—not unusual for ECN-style accounts and a fair trade-off for the tighter spreads.

I appreciate that TMGM directly passes dividends on CFD stocks and indices to the trader. That’s a small but meaningful benefit if you hold positions over dividend dates. Not every broker does this so transparently, giving more confidence when trading stocks.

One thing to note across all accounts is the $30 inactivity fee if your balance is under $500 and you haven’t traded for six months. It’s not a dealbreaker, but it’s something to keep in mind if you’re more of a passive trader. Some brokers, like Pepperstone, have no inactivity fees.

Platforms & Tools

TMGM offers both MetaTrader 4 (MT4) and MetaTrader 5 (MT5), a solid choice if you value flexibility in your trading setup.

However, I miss the option to use cTrader and TradingView, and beginners may want to start with a simplified proprietary platform offered by brokers like eToro and Plus500.

I started with MT4 because it’s the industry standard, and I am already familiar with it. It’s easy to see why it’s still so popular—it’s clean, stable, and packed with the essentials. I use it for manual and automated trading on my desktop and mobile devices.

The platform supports nine timeframes, and you can load up thousands of technical indicators and even test a few Expert Advisors (EAs). For someone like me who appreciates automation but doesn’t want to dive too deep into custom coding, MT4 strikes a good balance.

That said, I quickly realized it doesn’t give access to TMGM’s full CFD assets—particularly stocks. That limitation became more noticeable as I started looking to diversify into equities and other markets.

MT4 WebTrader offers a convenient way to trade without needing to download software

So I switched to MT5 (also available on desktop and mobile devices), and that’s where TMGM really started to shine. MT5 feels like a natural upgrade. It offers more timeframes, more order types, and better charting tools.

Depth of Market (DOM) is a helpful feature that gives a clearer sense of liquidity and helps fine-tune entries, especially during volatile sessions.

It also supports netting and hedging modes, which is handy when switching strategies.

Both platforms support automated trading, and running EAs on MT5 feels slightly more efficient. The execution is fast and reliable, though I don’t notice a massive difference from MT4 in order speed.

For those running EAs and signals on MT4, TMGM provides a full VPS service through ForexVPS. The basic VPS is free with a $3,000 deposit, supporting three MT4 platforms with 1ms latency and 100% uptime. For high-frequency trading, a $20,000 deposit activates a premium service.

I wish TMGM offered a bit more in the way of platform add-ons or in-house tools. Some brokers, like FXPro and CMC Markets, bundle custom indicators or offer analytics within the platform environment, which can be real-time.

Research

TMGM offers a range of useful trading tools designed to enhance the trading experience.

The MetaTrader-powered copy trading feature lets you mirror experienced traders’ trades with customizable risk management settings.

Third-party Signal Centre signals provide real-time market signals to help spot potential trading opportunities, and Trading Central offers technical analysis and market sentiment.

Trading Central analysis provides potential trading opportunities

The economic calendar helps monitor key global events that could impact markets, while the trading calculator helps assess potential trade outcomes and margins.

Overall, TMGM’s additional tools offer a solid mix of resources that could help you make more informed decisions.

Education

The TMGM Academy offers an interactive learning experience tailored for traders aiming to enhance their skills.

Unlike many brokers that provide only static resources, TMGM’s Academy incorporates quizzes to test your knowledge, making it more engaging.

​The TMGM Academy offers lots of valuable trading articles and tutorials

However, it’s important to note that the Academy’s content is currently available only in English, which may limit accessibility for non-English speakers.​

While the Academy provides a structured approach to learning, it doesn’t offer video tutorials or live webinars, which are common in educational offerings from brokers like Swissquote or FOREX.com.

Customer Support

When we tested TMGM’s customer support, we’ve been impressed with their responsiveness, especially compared to other brokers we’ve assessed, where response times can sometimes be hit or miss.

Live chat is one of the highlights. Whenever I have a quick question or need assistance, I am connected to a representative almost immediately, and the responses are prompt and helpful.

I find the reps knowledgeable—whether I am asking about platform features or specific trading conditions.

I also use email support and receive a response within 24 hours, which is solid—especially when I compare it to some brokers who can take days to get back. The phone support is equally reliable, but it’s an Australian number.

Should You Trade With TMGM?

Trading with TMGM can be a solid choice, especially if you want tight spreads, fast execution, and access to various instruments across forex, stocks, indices, and commodities.

The trading platforms are stable, account setup is easy, and decent funding options and competitive pricing are available.

That said, TMGM does have limitations, such as moderate educational and research content compared to more beginner-friendly brokers. There’s also no simplified proprietary trading app.

TMGM best suits intermediate or experienced traders who value performance and market variety over extras. If that sounds like your style, TMGM is worth considering.

Article Sources

• TMGM Website
• Financial Services Commission (FSC)

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