TMGM
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| Leverage | 1:500 |
| Minimum Deposit | $100 |
| Regulation | ASIC, FMA, VFSC |
| Year Established | 2013 |
| Payment Methods | Bank Transfer, Credit/Debit Cards, Skrill, Neteller, UnionPay |
| Trading Assets | Forex, Indices, Shares, Commodities, Cryptocurrencies |
| MT4 | ✅ |
| MT5 | ✅ |
| Spreads | Extremely Low |
| Average cost: EUR/USD | 0.3 pips |
| Demo Account | ✅ |
| Islamic Account | ✅ |
| CopyTrading | ✅ |
| ZuluTrade | ❌ |
| Scalping | Yes |
| Signals | ✅ |
| EAs/Robots | Available |
| Negative Balance Protection | Yes |
| Deposit Fee | ❌ |
| Withdrawal Fee | ❌ |
| Contact Information | Email: [email protected], Phone: +61-2-8036-8388 |
| Address | Level 17, 9 Castlereagh St, Sydney NSW 2000, Australia | Rating | ★★★★☆ 4.2 |
| Website |
Pros and Cons
- Extremely low spreads
- Comprehensive asset selection
- Support for MT4 and MT5
- Robust customer support
- Multiple account types
- Limited third-party integrations
- No ZuluTrade support
- Withdrawal fees for certain methods
- No cryptocurrency deposit support
- Complex account verification
TMGM Review: A Deep Dive into Its Features, Fees, and Platforms
TMGM (Traders Global Market) is a reputable online forex and CFD broker with a mission to deliver an outstanding trading experience.
Established in 2013, its philosophy revolves around providing cutting-edge trading platforms, a comprehensive range of assets, and competitive pricing.
They aim to build trust and transparency through their regulation by multiple authoritative bodies, stringent data security practices, and comprehensive support.
In this detailed review, we will explore its features, regulatory compliance, trading platforms, account types, fees, educational resources, customer support, and overall trading experience.
Create a Free AccountRegulatory Compliance
The company operates under strict regulatory compliance:
- ASIC (Australian Securities and Investments Commission): Ensures it adheres to Australia’s strict financial guidelines.
- FMA (Financial Markets Authority of New Zealand): Governs the broker’s operations in New Zealand, providing enhanced protection for local traders.
- VFSC (Vanuatu Financial Services Commission): Oversees the broker’s international activities.
Key Features Overview
- Leverage: Up to 1:500, providing traders with flexible risk management.
- Platforms: Supports MetaTrader 4 (MT4), MetaTrader 5 (MT5), and IRESS, catering to various trader preferences.
- Assets: Over 12,000 financial instruments, including forex, shares, indices, commodities, and cryptocurrencies.
- Account Types: Diverse account types (Edge, Classic, and Islamic).
- Minimum Deposit: $100, making trading accessible to many.
- Deposit and Withdrawal Methods: Wide range, including bank transfers, credit/debit cards, e-wallets, and UnionPay.
Trading Platforms
MetaTrader 4 (MT4)
MT4 remains a popular choice due to its simplicity and features:
- Technical Analysis Tools: Over 30 technical indicators, 24 analytical objects, and flexible chart views.
- Expert Advisors (EA): Allows automated trading using algorithms.
- Ease of Use: Intuitive for beginners and experienced traders alike.
- Mobile Trading: Available for mobile devices, allowing trading from anywhere.
MetaTrader 5 (MT5)
The more advanced MT5 platform offers additional features:
- Expanded Asset Range: Access to shares and futures, in addition to forex and indices.
- Depth of Market: Detailed market data and analysis.
- Advanced Order Types: Additional pending orders, including Buy Stop Limit and Sell Stop Limit.
- Economic Calendar: In-built calendar provides real-time economic data.
- Mobile Trading: Like MT4, accessible via mobile devices.
IRESS Platform
Designed for professionals, IRESS is a highly customizable platform:
- Customizable Interface: Offers a drag-and-drop interface for personalized layouts.
- Advanced Charting Tools: More than 50 indicators, various chart types, and drawing tools.
- Execution Speed: Fast order execution suitable for high-frequency traders.
- News Feeds: Live news updates from global financial markets.
Platform Comparison Table
| Feature | MT4 | MT5 | IRESS |
|---|---|---|---|
| Algorithmic Trading | Yes | Yes | Yes |
| Asset Coverage | Forex, Indices, | Forex, Indices, ETFs, | Forex, Indices, Shares, |
| Commodities | Shares, Commodities | Commodities | |
| Charting Tools | 30+ indicators | 40+ indicators | 50+ indicators, Advanced |
| Charting | |||
| Order Execution | Instant & Market | Instant & Market | Market Execution |
| Pending Orders | 4 types | 6 types | 4 types |
| Economic Calendar | No | Yes | No |
Account Types and Structure
TMGM provides traders with three primary account types:
Edge Account
- Spreads: Raw spreads from 0.0 pips.
- Commission: $7 per lot round trip.
- Leverage: Up to 1:500.
- Minimum Deposit: $100.
Classic Account
- Spreads: From 1.0 pips, no commissions.
- Leverage: Up to 1:500.
- Minimum Deposit: $100.
Islamic Account
The broker caters to individuals who follow Sharia law with swap-free Islamic accounts:
- Swap-Free: No overnight interest charges.
- Structure: Available as both Edge and Classic accounts.
Account Features Comparison Table
| Feature | Edge Account | Classic Account | Islamic Account |
|---|---|---|---|
| Minimum Deposit | $100 | $100 | $100 |
| Spreads | From 0.0 pips | From 1.0 pips | From 0.0 or 1.0 pips |
| Commissions | $7 per lot round trip | None | $7 per lot round trip (Edge) |
| Leverage | Up to 1:500 | Up to 1:500 | Up to 1:500 |
| Swap-Free | No | No | Yes |
| Trading Styles | Scalping, Day Trading | Day Trading, Swing | Scalping, Day, Swing Trading |
Demo Accounts
All account types are available as demo accounts, providing traders with risk-free opportunities to familiarize themselves with their platforms and test strategies.
Create a Demo Account for FreeTrading Instruments and Spreads
Forex
TMGM offers over 50 currency pairs, including:
- Majors: EUR/USD, GBP/USD, USD/JPY, AUD/USD, etc.
- Minors: EUR/GBP, EUR/AUD, GBP/JPY, etc.
- Exotics: USD/ZAR, EUR/TRY, etc.
Spreads: EUR/USD averages 0.3 pips on the Edge account and 1.0 pips on the Classic account.
Indices
Major indices include:
- S&P 500: Spreads from 0.3 points.
- NASDAQ 100: Spreads from 1.0 points.
- FTSE 100: Spreads from 1.2 points.
Shares
Traders have access to thousands of global shares through IRESS, including:
- US Markets: Apple, Tesla, Microsoft, and other S&P 500 companies.
- European Markets: Nestlé, Volkswagen, HSBC, etc.
- Asian Markets: Alibaba, Samsung Electronics, Toyota, etc.
Commodities
It also provides various commodity instruments:
- Precious Metals: Gold (XAU/USD), Silver (XAG/USD), and platinum.
- Energy: Brent and WTI crude oil, natural gas.
- Agriculture: Wheat, corn, coffee, cocoa, etc.
Cryptocurrencies
For digital currency enthusiasts, it also offers CFDs on cryptocurrencies:
- Major Cryptos: Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Litecoin (LTC).
Spreads: Typically range from 0.2% to 0.5%.
Asset Classes Summary Table
| Asset Class | Key Examples | Spread Range | Trading Hours |
|---|---|---|---|
| Forex | EUR/USD, GBP/USD, USD/JPY | From 0.0 pips | 24/5 |
| Indices | S&P 500, NASDAQ 100 | From 0.3 points | 24/5 |
| Shares | Apple, Tesla, Nestlé | Variable | Based on exchange |
| Commodities | Gold, Silver, Brent Oil | From 0.1 pips | 24/5 |
| Cryptocurrencies | Bitcoin, Ethereum, Ripple | From 0.2% | 24/7 |
Fees and Costs
Trading Costs
TMGM provides a competitive fee structure:
- Spreads: Variable and depend on the account type.
- Commission: Applies to the Edge account ($7 per lot round trip).
- Swap Fees: Overnight interest fees charged on non-Islamic accounts.
Non-Trading Fees
- Deposit Fees: None.
- Withdrawal Fees: None for bank transfers or e-wallets; minor fees apply for credit card withdrawals.
- Inactivity Fees: None.
Comparison Table: TMGM vs. Competitors
| Fee Category | TMGM (Edge) | TMGM (Classic) | Competitor A (Standard) | Competitor B (Pro) |
|---|---|---|---|---|
| Spreads (EUR/USD) | From 0.0 | From 1.0 | From 0.8 | From 0.1 |
| Commission | $7/lot | None | None | $5/lot |
| Deposit Fees | None | None | None | None |
| Withdrawal Fees | None | None | Variable | Fixed Fee |
| Swap Fees | Variable | Variable | Variable | Variable |
| Inactivity Fees | None | None | $10/month | None |
Customer Support and Resources
Customer Support
The company provides multilingual, 24/7 support via multiple channels:
- Live Chat: Instant support through the website’s chat feature.
- Email: Send inquiries to [email protected], with responses within 24 hours.
- Phone: Direct line available at +61-2-8036-8388.
Educational Resources
- Webinars: Regular live webinars covering market trends, analysis, and strategies.
- Trading Academy: Articles, tutorials, and e-books for all skill levels.
- Market Analysis: Daily analysis reports and trading insights.
Research Tools
- Economic Calendar: Real-time updates on global economic events.
- Market News: Daily market analysis, research reports, and technical insights.
TMGM Academy Course Structure
Its Academy is designed to help traders advance their skills systematically:
- Beginner Level: Forex basics, platform tutorials, risk management.
- Intermediate Level: Technical analysis, chart patterns, automated trading.
- Advanced Level: Advanced strategies, portfolio management, algorithmic trading.
Market Research and Analysis Insights
TMGM provides:
- Daily Insights: Market overviews, news, and asset-specific analysis.
- Weekly Reports: More comprehensive analysis of market trends and key economic events.
- Technical and Fundamental Analysis: Reports combining technical and fundamental approaches.
Security and Protection
Client Funds Security
- Segregated Accounts: All funds are held in segregated accounts in top-tier global banks.
- Negative Balance Protection: Prevents people from losing more than their account balance.
Data Security
- SSL Encryption: Ensures all transactions and personal data are encrypted.
- Two-Factor Authentication (2FA): Adds a security layer.
Internal Audits
TMGM conducts regular internal audits to ensure compliance with regulatory requirements and ethical standards.
Conclusion
TMGM successfully integrates comprehensive regulation, diverse trading platforms, competitive pricing, and robust customer support.
Their wide range of trading instruments, account types, and educational resources make them a versatile choice for traders at all levels.
While some areas like cryptocurrency deposit support can improve, its transparent fee structure, platform reliability, and regulatory adherence position it as a strong contender in the brokerage industry.
Whether you’re a beginner seeking educational support or an advanced trader leveraging MT4, MT5, or IRESS platforms, TMGM provides a trading environment that caters to diverse preferences.
Visit official website: www.tmgm.comFAQ
What types of accounts does it offer?
TMGM provides several account types, including Edge, Classic, and Islamic accounts, to cater to different trading needs and religious beliefs.
How long does it take to withdraw funds?
The withdrawal process typically takes 1-3 business days, depending on the payment method chosen.
Is TMGM regulated?
Yes, the company is regulated by ASIC, FMA, and VFSC, ensuring a high standard of safety and security for clients.
Does the broker offer negative balance protection?
Yes, TMGM provides negative balance protection across all account types.
Can I trade cryptocurrencies?
Yes, TMGM allows trading on popular cryptocurrencies like Bitcoin, Ethereum, and Ripple.
What trading platforms are supported?
TMGM supports MetaTrader 4 and MetaTrader 5 platforms, both on desktop and mobile.
Are there educational resources available for new traders?
TMGM offers educational resources, including webinars, articles, and video tutorials, to help users improve their skills.
Resources
User Reviews
Article written, edited and reviewed by
Adam Rosen
Adam Rosen is a seasoned senior marketer whose expertise extends far beyond the norm. Drawing from decades of experience in the industry, Adam plays an integral role in our team, infusing his insights into every project we tackle. But that's not all – Adam has a unique knack for breaking down complex broker information and crafting insightful reviews for our website, Brokfolio. His dedication to providing readers with valuable insights and guidance makes him an invaluable asset to our team. Beyond his professional pursuits, Adam is fueled by an unwavering passion for technology and fintech. He thrives on pushing boundaries and exploring new horizons in these dynamic domains. Curious to learn more about the mind behind the words? Dive into Adam Rosen's profile to discover a wealth of expertise, innovation, and a relentless drive for excellence.
Andrew Blumer
Andrew Blumer is a finance pro who's got money matters down to a science.
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Last updated: September 4, 2024
