TMGM Review: Is TMGM.Com Reliable Broker?
TMGM Review: Is TMGM.Com Reliable Broker?

The reason why we’re doing the TMGM Review is that we have read multiple client complaints regarding the payment process of the TMGM broker. Maybe there was some shady activity here.

We decided to analyze what the broker has to offer while being unbiased. Read the review carefully to learn what to watch out for.

Before we go any further, we suggest reading our brokerage reviews on FiatVisions, M4Markets, and FXChoice.

Broker status:Regulated Broker
Regulated by:ASIC, FMA, VFSC
Websites:tmgm.com
Regulators’ Complaints:N/A
Owned by:Trademax Australia Limited, Trademax Global Markets, Trademax Global Limited
Headquarters Country:Australia, New Zealand, Vanuatu
Foundation year:2013
Supported Platforms:MT4, MT5, iRESS
Minimum Deposit:100 $
Cryptocurrencies:Yes – BTC, XPR, ETH… (12 in total)
Types of Assets:Forex, Crypto, Indices, Commodities, Shares
Maximum Leverage:1:500
Free Demo Account:Available
Accepts US clients:Yes
Site Grid:N/A

Is TMGM a Regulated Broker?

Yes. TMGM is regulated by as many as three financial authorities. Namely, the three companies we listed in the table are all part of the TMGM brand and cover the Australian continent and the Oceania region.

TMGM is present in Australia, New Zealand, and Vanuatu and is regulated by ASIC, the FMA, and the VFSC, respectively. So, what seems to be the problem here?

There’s only one website. TMGM could easily redirect new clients to the offshore branch, i. e. the one in Vanuatu. That one has the weakest regulation since the VFSC isn’t credible or strict like ASIC.

That’s one possibility. TMGM could be violating the rules from the ASIC and FMA-regulated branches too. Nevertheless, issues do exist so we advise caution if you decide to invest with this broker.

Despite being registered with ASIC, the FMA, and the VFSC, we found numerous complaints from clients pointing to withdrawal issues. TMGM was active in Australia, Indonesia, Vietnam, Thailand, and Malaysia.

TMGM Available Trading Platform

TMGM Trading Platform

The TMGM trading platform options are excellent. The broker offers Meta Trader 4, Meta Trader 5 and iRESS.

MT4 & MT5 are arguably the best-performing trading platforms in the industry. iRESS is less known but has its own advantages. It’s available for the desktop while the MT platforms also have a mobile version.

MetaTrader 4 & MetaTrader 5

These two need no introduction. Ever since their creation, the world of trading has been thriving.�

MT4 and MT5 feature cutting-edge tools and options such as algorithmic trading, instant execution, live market reports, branch optimization, API integration, advanced graphs, etc. The perfect choice for any trader.

iRESS

iRESS is essentially a built-in desktop platform. While it may not be as famous as MT software, it does have some great features.

For example, it could be more beneficial for Shares trading than MT4 & MT5. That’s because it allows users to trade on the exchanges of the US, UK, Australia, China, Hong Kong, and Singapore.

What Traders Are Saying About TMGM

Let’s look at Trustpilot reviews of TMGM. While the company may be verified and positively evaluated, we found some complaints from clients:

I feel really disappointed about withdrawing the money I try to do it for 3 days already but still can’t do it, I think something wrong with that. the reason says the network upgrade, but how to do the 3-day still can’t upgrade done the customer service like that makes me feel the money can’t take it out…

  • Trustpilot user, September 1, 2022.

I made the deposit by sticpay but I can’t withdraw by sticpay, they said they accept deposits by sticpay but they don’t accept withdrawal

now the withdrawal has been processed and I have not received it in my bank account or in sticpay…

  • 55broker.com user, May 4, 2021.

TMGM ‘s Trading Assets and Instruments

TMGM offers three main types of trading – FX, CFDs, and cryptocurrencies. Here’s a quick overview of the TMGM trading assets and some of the instruments:

  • Forex – EUR/USD, GBP/SGD, CAD/JPY…
  • Indices – GER40, FTSE100, DOW30…
  • Commodities – gold, silver, platinum, brent oil & crude oil;
  • Shares – Netflix, Facebook, Coca-Cola…
  • Crypto – BTC, BNB, XPR…

It’s a nice selection. Shame that the broker is slowly becoming associated with complaints and issues in terms of payments and withdrawals.

Leverage, Spreads, and Fees

Depending on the TMGM branch you sign up with, you’ll get different leverage caps. ASIC imposed a limit of 1:30 whereas the FMA allows 1:400 and the offshore branch even 1:500.

Spreads for the EUR/USD pair are 1 pip for the Classic account. The commissions are included in that. On the other hand, the Edge account offers 0.0 pips but a 7 $ round turn commission.

TMGM Service Countries�

TMGM provides services in several countries. The broker seems to cover the entire Oceania and South East Asia regions.

  • Australia;
  • Malaysia;
  • Vietnam;
  • Indonesia;
  • Thailand.

However, the complaints we found were made by traders from the UK and Canada too. We guess the offshore branch of TMGM is to blame for it.

What Are The Different TMGM Account Types?

TMGM Trading Account

TMGM trading accounts come in two forms:

  • Classic – variable spreads from 1 pip, zero commissions;
  • Edge – raw spreads from 0 pips, 7 $ commission per round turn.

Both account types require a minimum deposit of 100 $, offer a leverage cap of 1:500, ECN execution, and an Islamic version.�

The choice is good for both long-term investors and day traders. Just be careful with the extremely high leverage level.

Free Demo Account

There’s also a free TMGM demo account. It’s available for both the Classic and Edge accounts.�

Traders have the option to test things out and train a bit before investing real money. The available platforms are MT4 and MT5.

What Methods Of Deposit And Withdrawal Does TMGM� Accept?

The TMGM withdrawal and deposit process includes a wide variety of payment methods:

  • Credit/debit cards;
  • Wire transfers;
  • Skrill;
  • Neteller;
  • Revolut;
  • UnionPay;
  • FasaPay;
  • RMB Instant;
  • POLi.

There are no deposit and withdrawal fees on TMGM’s side. The minimum deposit is 100 $. All in all, the funding methods should suit everybody. Withdrawal issues are the worrying factor here.

TMGM Partnership Plans

Basically, you refer a friend, you become a partner or get a reward or something like that. This reminds us of a Ponzi scheme.

There is a chance that the Vanuatu branch is conducting this pyramid-type scheme. We have no evidence for it but you should still be careful.�

TMGM Terms & Conditions – What You Need to Know

Since TMGM is regulated, we don’t believe there’s some shady stuff in the T&C section. There are no illegal bonuses, which is a good sign.

A regulated broker like this one must stick to AML rules, i. e. pay the client using the same method he/she used to deposit funds. Judging by the complaint we posted earlier, the client was denied his withdrawal. If TMGM violated any terms and conditions, it’s got to be this.

What Should I Do If I Have TMGM Problem?

TMGM seems like a good broker but that doesn’t mean that it’s perfect. Issues could pop up at any time. If that happened to you, please contact us as soon as possible.

We can provide you with assistance in getting a chargeback or a recall. But please, you must call us within 540 days of the transaction for this to work.

Contact us today and start your chargeback process.

What Is TMGM?

TMGM is a broker that has offices in Australia, New Zealand and Vanuatu. It offers FX, CFD and crypto trading.

Is TMGM a Regulated Broker?

Yes. TMGM is regulated by ASIC, FMA, and VFSC. Yet, it seems that the broker broke a few rules.

Is TMGM Available in the United States or the UK?

TMGM is available in the United Kingdom (no crypto for UK clients) but not in the United States.

Does TMGM Offer a Demo Account?

Yes. You can open a free demo account with TMGM and trade on MetaTrader platforms.

Unfortunately, many users start reading reviews only after falling victim to scams. We sincerely hope that you are not one of them!
However, if you're here because you suspect that your investment isn't in a safe place, know that you have the right to claim funds back!

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