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Do you want to know which is the better broker between FOREX EXCHANGE and TMGM ?
In the table below, you can compare the features of FOREX EXCHANGE , TMGM side by side to determine the best fit for your needs.
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EURUSD:10.65
XAUUSD:19.46
EURUSD: -6.35 ~ 2.66
XAUUSD: -36.22 ~ 21.38
You can determine the reliability and credibility of a broker by checking four factors:
1.Forex broker introduction。
2.Are the transaction costs and expenses of forex-exchange, tmgm lower?
3.Which broker is safer?
4.Which broker provides better trading platform?
Based on these four factors, we can compare which is reliable. We have broken down the reasons as follows:
FOREX EXCHANGEReview Summary | |
Founded | 2004 |
Registered Country/Region | Japan |
Regulation | Regulated |
Market Instruments | Currencies |
Demo Account | ✅ |
Leverage | / |
Spread | / |
Trading Platform | MT4 |
Min Deposit | / |
Customer Support | Phone: 0120-555-729 |
Email: support@forex-exchange.co.jp | |
Physical Address: 〒 103-0025Tokyo chuo ward kaya, the nihonbashi 2-1-1 second securities pavilion |
FOREX EXCHANGE, incorporated in Japan in 2004. Currently regulated by the FSA, it allows traders to trade currency pairs through MT4 and supports free trading fees. But it did not provide specific information about the accounts.
Pros | Cons |
Regulated by FOREX EXCHANGE | No account details |
Support MT4 | |
Transaction fee, stop loss fee and account maintenance fee are 0 yen |
Regulated Country/Region | |
Regulated Authority | FSA |
Regulated Entity | FOREX EXCHANGE株式会社 |
License Type | Retail Forex License |
License Number | 関東財務局長(金商)第293号 |
Current Status | Regulated |
It can mainly trade 25 currencies.
Tradable Instruments | Supported |
Currencies | ✔ |
Precious metals & Commodities | ❌ |
Indices | ❌ |
Stocks | ❌ |
Bonds | ❌ |
ETF | ❌ |
The account opening process is as follows, consisting of four steps. You may refer to:
Transaction fee, stop loss fee and account maintenance fee are 0 yen. Deposits of more than 1 billion yen will be charged.
FOREX EXCHANGE offers MT4 for trading on desktop, mobile and tablet.
Trading Platform | Supported | Available Devices | Suitable for |
MT4 | ✔ | Desktop, Mobile, Tablet | Beginner |
MT5 | ❌ |
Withdrawals must be made from the website and can only be made in Japanese yen.
The withdrawal fee is free in principle. For withdrawals of less than 10,000 yen and withdrawals of more than 5 times per month, 540 yen will be charged per withdrawal.
The money will be remitted to your registered financial institution account within 4 working days.
Deposits can be made through regular bank transfers and fast deposits, with no minimum amount limit. Payment in Japanese yen only.
TMGM appears to a respected forex broker, presenting access to more than 12,000 spanning forex, CFDs, and cryptocurrencies. Traders can enjoy competitive spreads across various instruments, exemplified by the EUR/USD currency pair with an average spread of around 0.1 pips. Besides, TMGM extends a diverse set of trading platforms, notably including MetaTrader 4 and MetaTrader 5. Morever, TMGM enriches the trading journey with rich educational resources and trading tools. Lastly, 24/7 multilingual customer support stands ready. However, the question remains: Does TMGM truly live up to its claims? Let's explore more.
TMGM Review Summary in 10 Points | |
Founded | 2013 |
Headquarters | Sydney, Australia |
Regulation | ASIC, VFSC (Offshore) |
Market Instruments | forex, indices, shares, futures, precious metals, energies and cryptocurrencies |
Demo Account | Available |
Leverage | 1:500 |
EUR/USD Spread | 1.0 pips |
Trading Platforms | MT4, MT5 |
Minimum deposit | $100 |
Customer Support | Live chat, phone, email |
Founded in 2013 and headquartered in Sydney, Australia, TMGM is an online ECN/STP broker. Notably, in 2016, TMGM introduced its MetaTrader 5 platform. Subsequently, the company achieved FCA membership in the UK during 2017. The year 2019 witnessed the launch of TMGM's mobile trading app, further enhancing accessibility. By 2021, TMGM's reach expanded to encompass over 200 countries worldwide.
Offering a diverse array of more than 12,000 trading instruments spanning forex, commodities, cryptocurrencies, and stocks, TMGM caters to traders through popular platforms including MT4 and MT5.
Pros | Cons |
• ASIC regulation | • No US clients accepted |
• Competitive spreads and low commissions | • Inactivity fees applied |
• Over 12000 trading instruments | |
• MT4 and MT5 platforms offered | |
• 24/7 multilingual cutsomer support | |
• Multiple account types with flexible options | |
• Rich educational resources | |
• High leverage up to 1:500 |
TMGM, a regulated broker, holds authorization from the tier-one regulator ASIC and is also licensed by the New Zealand Financial Markets Authority (FMA). Additionally, TMGM's international operations are overseen by the VFSC in Vanuatu offshore. Now, let's quickly delve into TMGM's regulations and licenses, which will shed light on how the broker ensures compliance with industry standards and protects clients.
Regulated Country | Regulated Authority | Regulated Entity | License Type | License Number |
ASIC | TRADEMAX AUSTRALIA LIMITED | Market Making(MM) | 436416 | |
VFSC | Trademax Global Limited | Retail Forex License | 40356 |
Under the oversight of ASIC, a prominent tier-1 regulatory authority, TMGM's Australian branch known as TRADEMAX AUSTRALIA LIMITED operates with regulatory number 436416. This entity is licensed for Market Making (MM). As per the stringent rules set by ASIC, which is globally recognized, brokers must ensure the safety of clients' funds.
Since TMGM claims to obtain the ASIC license, an investigation team from WikiFX visited the company's registered address in Australia. This visit, conducted in person, revealed that the company is operating smoothly and on a large scale. This direct observation by the investigator enhances our confidence in TMGM's legitimacy and highlights its strong and credible operations under ASIC's regulation.
TMGM's international branch, Trademax Global Limited, operates under the regulation and authorization of VFSC offshore, holding a license for retail forex activities.
TMGM goes above and beyond by offering an impressive collection of 12,000+ trading instruments, setting it apart as a broker with an exceptional range of options, covering 60 currency pairs, indices, and stocks sourced from major global exchanges. Moreover, TMGM extends its offerings to include futures, as well as sought-after precious metals like gold and silver. Adding to the mix are energies such as oil and natural gas, not to mention a selection of 10 cryptocurrencies like Bitcoin, Ethereum, and Litecoin.
Trading Assets | Available |
Forex | |
Shares | |
Energies | |
Indices | |
Precious Metals | |
Cryptocurrencies | |
Futures | |
Indices CFD Dividend | |
Shares CFD Dividend | |
ETFS | |
Stocks | |
Options |
TMGM tailors its account types to match the chosen trading platform. If you're using the MetaTrader 4 platform, they provide EDGE and CLASSIC accounts. Plus, for those who prefer Swap Free accounts or want to practice with demo accounts, TMGM offers those options as well.
Both accounts require a minimum deposit of $100, quite reasonable for most regular traders to get started.
Classic | Edge | |
Min Deposit | $100 | $100 |
Min Lot Size | 0.01 Lot | 0.01 Lot |
Max Leverage | 1:500 | 1:500 |
Funding | Free | Free |
Execution Type | ECN | ECN |
EA Available | ||
Islamic Account | ||
Hedging Allowed |
The minimum deposit requirement is $5,000 for STANDARD Account, $10,000 for PREMIUM Account, and $50,000 for GOLD Account. When it comes to fees, the Standard account entails a platform fee of $35 USD or $45 AUD per month. The Premium and Gold account holders, on the other hand, enjoy fee-free access to the platform. Additionally, all account types are subject to a data fee for each exchange they use.
Standard | Premium | Gold | |
Minimum Deposit | $5,000 | $10,000 | $50,000 |
Platform Fee | $35 or A$45/per month | No Fee | No Fee |
Data Fee | For Every Exchange | ||
Min. Commission | $10 | Not mentioned | |
Commission Rate (cps) | 2.25 | 7 | 1.8 |
Minimum(Trade Size) | 333Shares | Not mentioned | |
Financing | Libor+3.5%/-3.5% | Libor +3%/-3% | Libor +2.5%/-2.5% |
TMGM also provides a Swap Free account for those who are unable to pay or receive interest owing to their religious convictions. To open a Swap-Free account, you'll need to have an Edge account, which requires a minimum of $100 and a minimum lot size of 0.01.
Demo trading accounts are available through TMGM for anyone interested in testing the waters before opening a real account. These accounts allow you to test out the broker's services before committing any real money. In addition, it provides a means of learning as much as possible about TMGM before you commit to an investment account.
The MetaTrader4 trading platform (which we'll come to in a moment) is available to demo accounts for an entire year. However, in the event of inactivity for six months, your access will be terminated. A $5,000, $10,000, or $50,000 virtual currency balance is available to you.
TMGM offers quite a high trading leverage up to 1:500 on all account types. Forex products trading can use leverage of up to 1:500, indices and energy with leverage of 1:100, and precious metals featuring 400x leverage.
Here's a table comparing leverage provided by major industry players. Notably, TMGM offers relatively higher leverage, though it appears somewhat more cautious compared to the other three competitors. However, users should remember that high leverage is a two-edged tool with potential risks.
Broker | TMGM | Exness | FXTM | IC Markets |
Max. Leverage | 1:500 | 1:Unlimited | 1:2000 | 1:500 |
TMGM offers competitive spreads and commissions on their trading instruments. The exact spreads and commissions vary depending on the account type and trading platform used. The spreads on CLASSIC accounts start at 1.0 pips, with no commission charged, while the spreads on EDGE accounts start at 0.0 pips, and a commission of $7 (round turn) is charged per lot.
Generally, TMGM offers tight spreads on major forex pairs such as EUR/USD, with spreads as low as 0.0 pips. Commissions may be charged on some trading instruments, such as shares and futures. However, these commissions are generally competitive compared to other brokers in the industry.
Below is a comparison table about spreads and commissions charged by different brokers:
Broker | EUR/USD Spread | Commission |
TMGM | 0.0 pips | $7 per round turn |
Pepperstone | 0.09 pips | $3.5 per lot |
eToro | 1.0 pips | $0 |
IG | 0.6 pips | $0 |
Plus500 | 0.8 pips | $0 |
XM | 0.9 pips | $0 |
TMGM offers popular trading platforms for their clients: MetaTrader4 (MT4) and MetaTrader5 (MT5).
Available Devices | PC, Mac, Mobile (iOS and Android) |
Language | English |
Scalping | |
Hedging | |
Automated Trading | |
One-click Execution | |
Web-based Trading | |
Mobile Trading | |
MT5 | |
cTrader | |
Proprietary Platform |
MT4 is a popular and widely used platform that provides advanced charting tools, technical analysis indicators, and customizable trading robots. It also supports a variety of order types and execution modes, allowing for flexible and efficient trading.
TMGM provides its traders with various trading tools to enhance their trading experience. These tools include:
Educational Contents | Available |
HUBx | |
Trading Calendar | |
Market Sentiment Tool | |
ForexVPS | |
Trading Central | |
Traders Terminology | |
Max-Calculator |
TMGM | Most other | |
Minimum Deposit | $100 | $100 |
The minimum deposit and withdrawal amount is both $100. Depositing doesn't cost anything, but the time it takes and the currency options depend on your chosen payment method. Be aware, though, that some deposit methods like Union Pay, FasaPay, Visa, and MasterCard can't be used for withdrawals.
Payment Options | Currencies | Min.Deposit | Min.Withdrawal | Fees | Processing Time ( Deposit) | Processing Time ( Withdrawal) |
NZD, USD, AUD, EUR, CAD | $100 | $100 | $0 | 1-3 Working Day | 1 Working Day | |
USD | Instant | |||||
NZD | Not mentioned | 1 Working Day | Not mentioned | |||
USD | $100 | Instant | 1 Working Day | |||
USD, EUR, GBP, AUD, NZD, CAD | 1 Working Day | |||||
CNY | Not mentioned | Instant | Not mentioned | |||
$100 | 1 Working Day | |||||
USD | Not mentioned | Not mentioned | ||||
USD, EUR, GBP, AUD, NZD, CAD | 3 Working Days | |||||
MYR, THB, IDR, VND | $100 | Instant | ||||
USD, EUR, GBP, AUD, NZD, CAD | Not mentioned | |||||
TMGM charges various fees, including spreads and commissions that we have mentioned before, as well as overnight financing fees. The specific fees vary depending on the type of account and trading platform used. TMGM does not charge any deposit or withdrawal fees, but clients may incur fees from their payment providers.
Additionally, TMGM charges an inactivity fee of $10 per month if there is no activity in the trading account for a period of six months or more. This fee will be deducted from the available balance of the account. However, if the available balance is less than $10, no inactivity fee will be charged. It is important to note that the inactivity fee is a common practice in the industry and is designed to encourage active trading and to offset the costs of maintaining inactive accounts.
See the fee comparison table below:
Broker | Deposit Fee | Withdrawal Fee | Inactivity Fee |
TMGM | Free | Free | $10/month after 6 months of inactivity |
Pepperstone | Free for Australian Bank Transfer, $20 for International Transfer | $0 after 12 months of inactivity | |
eToro | $5 | $10/month after 12 months of inactivity | |
IG | $1 for AUD, CAD, and USD, £1 for GBP, €1 for EUR | $18/month after 24 months of inactivity | |
Plus500 | $1.5-$10 depending on withdrawal method | $10/month after 3 months of inactivity | |
XM | Free | $5/month after 90 days of inactivity |
TMGM offers customer support through multiple channels including live chat, phone, email, and social media (YouTube, Twitter, Facebook, Instagram and LinkedIn).
Contact Channels | Details |
+612 8036 8388 | |
support@tmgm.com | |
24/7 | |
Sydney office, Melbourne Office, Adelaide Office, Canberra Office, Auckland Office | |
https://www.facebook.com/TMGMgroup | |
https://twitter.com/TMGMgroup | |
https://www.youtube.com/tmgmgroup | |
https://www.instagram.com/tmgmgroup/ | |
https://www.linkedin.com/company/tmgmgroup | |
https://api.whatsapp.com/send/?phone=61452597488&text&app_absent=0 |
You'll find an extensive and user-friendly FAQ section right on their website, covering a wide range of topics, from account setup to trading strategies, making it an invaluable tool for traders of all levels.
Pros | Cons |
• Multiple languages supported | • No dedicated account manager or personal service |
• Quick response times to inquiries | • Limited availability on weekends and holidays |
• Personalized service with tailored solutions |
Is TMGM regulated?
Yes. It is regulated by ASIC, and VFSC (offshore).
At TMGM, are there any regional restrictions for traders?
Yes. Products and Services offered on their website are not intended for residents of the United States.
Does TMGM offer demo accounts?
Answer 3: Yes.
Does TMGM offer the industry-standard MT4 & MT5?
Yes. It supports MT4 and MT5.
What is the minimum deposit for TMGM?
The minimum initial deposit at TMGM to open an account is $100.
To compare transaction costs across different brokers, our experts analyze the transaction-specific fees (such as spreads) and non-trading fees (such as inactivity fees and payment costs).
To get a comprehensive understanding of how cheap or expensive forex-exchange and tmgm are, we first considered common fees for standard accounts. On forex-exchange, the average spread for the EUR/USD currency pair is -- pips, while on tmgm the spread is From 0.
To determine the safety of our top brokers, our experts will consider many factors. This includes which licenses the broker holds and the credibility of these licenses. We also consider the history of brokers, because long-term brokers are usually more reliable and trustworthy than new brokers.
forex-exchange is regulated by FSA. tmgm is regulated by ASIC,VFSC.
When our experts review brokers, they will open their own accounts and trade through the broker's trading platform. This enables them to comprehensively evaluate the quality, ease of use, and function of the platform.
forex-exchange provides trading platform including -- and trading variety including --. tmgm provides trading platform including Edge ,Classic and trading variety including FX: 56 Bullion: 3 Oil: 2 CFD: 20 Crypto: 12 Shares: 48.