TMGM Review

Company background

TMGM was founded in 2013 in Sydney, Australia, originally operating as TradeMax. The brand was rebranded to TMGM (TradeMax Global Markets) in September 2020. The company is headquartered at Level 28, One International Tower, 100 Barangaroo Avenue, Sydney, and operates across more than 150 countries. TMGM reports approximately 1 million client accounts. The broker is also known as an official regional online forex and trading partner of Chelsea FC in the Asia-Pacific region.

TMGM offers trading across six asset classes: forex, indices, shares, commodities, metals and cryptocurrencies. It provides two core account types - Classic for spread-only trading and Edge for raw-spread trading with commission - alongside a separate IRESS platform for share CFD trading.

Fees and pricing

TMGM does not charge account opening, management, deposit or withdrawal fees (broker-side). The Classic account carries spreads from 1.0 pip with no commission. The Edge account offers raw spreads from 0.0 pips with a commission of $3.50 per side ($7 round-turn) per standard lot. The IRESS platform uses a separate fee structure, charging 1.8 to 2.25 cents per share and a platform fee of $35 per month that can be waived with sufficient activity.

An inactivity fee of $30 per month applies to accounts that have been dormant for 6 months or hold a balance below $500. Overnight financing (swap) charges apply to leveraged positions held open past the daily close, with triple swap charged on Wednesdays. The minimum deposit for Classic and Edge MT4 or MT5 accounts is $100; the IRESS platform requires a minimum deposit of $5,000.

Regulation and safety

TMGM's primary regulated entity is Trademax Australia Limited, authorised by the Australian Securities and Investments Commission (ASIC, AFSL 436416). Additional entities hold licences from the Financial Markets Authority of New Zealand (FMA, FSP 569807), the Vanuatu Financial Services Commission (VFSC, 40356), the Financial Services Authority of Seychelles (FSA, SD224) and the Financial Services Commission of Mauritius (FSC, GB22201012). Client funds are held in segregated accounts at National Australia Bank, and all entities offer negative balance protection. In May 2024, ASIC issued two DDO stop orders relating to TMGM's CFD product offerings; these were suspended in June 2024.

Platform experience

TMGM supports MetaTrader 4 and MetaTrader 5 for forex and CFD trading, available on desktop, web browser, iOS and Android. A free demo account with virtual balances of $5,000, $10,000 or $50,000 is available for MT4 and MT5, valid for 365 days (access paused after 6 months of inactivity). The IRESS platform provides access to 12,000 or more share CFDs but requires a separate account with a $5,000 minimum deposit and does not offer a demo environment. Free VPS hosting is available for algorithmic and automated traders. Additional tools include Trading Central market research and Acuity Trading signals.

Pros and cons

TMGM's main advantages are ASIC regulation with segregated funds at a major bank, competitive raw spreads on Edge accounts, a broad share CFD library through IRESS, free VPS hosting and no broker-side deposit or withdrawal fees. The primary drawbacks are the $30 monthly inactivity fee triggered after 6 months, the $5,000 minimum deposit required for the IRESS platform, no EU regulatory licence, limited educational content relative to some peers, and a compliance event involving ASIC DDO stop orders in 2024.