It is important to note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies. In addition, the date on which this review was generated may also be an important factor to consider, as information may have changed since then. Therefore, readers are advised to always verify updated information directly with the company before making any decision or taking any action. Responsibility for the use of the information provided in this review rests solely with the reader.

In this review, if there is a conflict between the image and the text content, the text content should prevail. However, we recommend that you open the official website for further consultation.

Pros and cons of FX Choice

Pros:

• Multiple account types with varying minimum deposits and commissions to suit traders with different needs and preferences.

• The option to trade a wide range of financial instruments including Forex, metals, indices, cryptocurrencies, and shares.

• Multiple platform options including the popular MetaTrader 4 and 5, as well as a WebTrader platform.

• High leverage of up to 1:1000 for the Optimum account, providing the opportunity for potentially higher profits.

• A variety of deposit and withdrawal methods, including popular e-wallets and cryptocurrencies, with a 15% deposit bonus available.

• Comprehensive educational resources including autotrade, copy trading, and trading signals to help traders make informed decisions.

• Multilingual customer support available 24/5 via phone, email, live chat, and call back.

Cons:

• Limited options for those who prefer a low minimum deposit or zero commission account.

• Pro account holders are charged a commission of USD 3.5 per side, which may be relatively high for some traders.

• Limited to only a few trading platforms, which may not suit traders who prefer other platforms.

• The maximum leverage available of up to 1:1000 for the Optimum account may be too high for some traders who prefer a lower level of risk.

• The customer support service does not offer 24/7 assistance.

What type of broker is FX Choice？

FX Choice is a Market Making (MM) broker, which means that it acts as a counterparty to its clients in trading operations. That is, instead of connecting directly to the market, FX Choice acts as an intermediary and takes the opposite position to its clients. As such, it can offer faster order execution speed, tighter spreads and greater flexibility in terms of the leverage offered. However, this also means that FX Choice has a certain conflict of interest with their clients, as their profits come from the difference between the bid and ask price of assets, which could lead to them making decisions that are not necessarily in the best interests of their clients. It is important for traders to be aware of this dynamic when trading with FX Choice or any other MM broker.

General information and regulation of FX Choice

With a history between 2 and 5 years, FX Choice is an online forex broker regulated by FSC and is dedicated to providing a series of common forex instruments.

In the following article, we will analyze the characteristics of this broker in all its dimensions, providing you with easy and well-organized information. If you are interested, read on.

Market instruments

FX Choice offers a vast selection of tradable instruments, including forex, indices, commodities, metals, energy, cryptocurrencies, and stocks. This wide range of markets provides traders with numerous opportunities to diversify their trading portfolio and take advantage of different market conditions. For instance, traders can choose to trade the highly liquid forex market, take positions on the commodities market, or trade the popular cryptocurrency markets. Additionally, traders can access various indices, energy, and metal markets to take advantage of market opportunities. Overall, the broad range of trading instruments on FX Choice makes it a suitable broker for both new and experienced traders who want access to multiple markets. No disadvantages were found in this dimension.

Spreads and commissions for trading with FX Choice

FX Choice offers competitive spreads on all its account types. The Classic account has spreads starting from 0.5 pips, while the Optimum account has spreads starting from 1.5 pips. The Pro account has spreads starting from 0 pips but charges a commission of USD 3.5 per side, which is relatively high compared to other brokers. However, rebates of up to USD 2 per side are available for high-volume traders on the Pro account. There are no commissions charged on the Classic and Optimum accounts, making them suitable for traders who do not want to pay additional fees. Overall, FX Choice's spreads are competitive and can be considered an advantage for traders.

Trading accounts available in FX Choice

Demo Account: FX Choice provides a demo account that allows you to try out the financial markets without the risk of losing money.

Live account: FX Choice offers three account types: Classic, Optimum, and Pro Accounts. The Classic Account has a minimum deposit of USD 100 and offers tight spreads starting from 0.5 pips. The Optimum Account, on the other hand, requires a minimum deposit of only USD 10 but has wider spreads starting from 1.5 pips. The Pro Account has a minimum deposit of USD 100 and offers the tightest spreads starting from 0 pips. However, it comes with a relatively high commission fee of USD 3.5 per side. All account types allow for a minimum lot size of 0.01 lots, and the leverage for forex and metals trading ranges from 1:200 to 1:1000. Moreover, the accounts support different markets, including forex, indices, metals and energies, cryptocurrencies, and stocks, among others.

Trading platform(s) that FX Choice offers

FX Choice offers three popular trading platforms to its clients: MT4, MT5, and WebTrader. The MetaTrader platforms are well-known for their advanced charting capabilities and algorithmic trading options, making them ideal for both novice and experienced traders. The WebTrader platform is a browser-based platform that allows traders to access their accounts from anywhere without the need for downloading any software. However, FX Choice does not have its own proprietary platform, which may be a disadvantage for traders who prefer a more customized trading experience. Additionally, the absence of the cTrader platform may be a drawback for traders who prefer this platform for its advanced charting and order execution features. Overall, the availability of the popular MetaTrader platforms and a browser-based WebTrader platform provides traders with flexibility and accessibility to trade from various devices.

Maximum leverage of FX Choice

FX Choice offers maximum leverage of up to 1:1000 for Optimum account and 1:200 for Classic and Pro account, which allows traders to open larger positions with a smaller amount of capital. This can be advantageous for traders who have a good understanding of risk management and use leverage wisely to maximize their trading opportunities. However, high leverage can also lead to large losses if traders do not use it responsibly. It is important for traders to understand the risks involved and have a solid trading plan in place when using high leverage. Additionally, traders should always consider the market conditions and volatility before using high leverage in their trades.

Deposit and Withdrawal: methods and fees

FX Choice offers clients a wide range of deposit and withdrawal options, including cryptocurrencies, Visa, Mastercard, Skrill, Neteller, and many more. The 15% deposit bonus is also an attractive feature for new clients. However, some payment methods may not be available in certain countries and withdrawal fees may apply. It's also important to note that bonus terms and conditions may apply. In general, FX Choice aims to process payments quickly, which is a positive aspect for clients looking for a fast and efficient payment system.

Educational resources in FX Choice

FX Choice offers a variety of educational resources that cater to the needs of traders at different levels of experience. The platform provides a range of professional trading tools that traders can use to improve their skills and knowledge. The educational resources available include market signals, autotrade, copy trading, VPS, news, trading signals, and EA. These resources are customizable, allowing traders to tailor them to their individual needs and preferences. Additionally, traders can learn from experienced traders by using the platform's copy trading features. While FX Choice offers a wide range of educational resources, there may be limited materials for beginners, and some resources may require additional fees or commissions. Overall, the platform offers a strong set of educational resources for traders looking to improve their trading skills and knowledge.

Customer service of FX Choice

FX Choice offers 24/5 customer service to its clients, providing support in multiple languages through various channels such as email, phone, live chat and call back service. The quick response time through live chat and phone is an advantage, ensuring that clients can get their issues resolved promptly. However, the lack of 24/7 customer service and local phone numbers for some countries could be a disadvantage for clients in those regions. While FX Choice has a physical office, it may not be accessible to some clients. The website could also provide more information about the customer service protocols in place to manage clients' issues. Overall, FX Choice's customer care dimension provides a good level of support to its clients.

Conclusion

FX Choice is a well-established online trading platform that provides a wide range of trading instruments, including forex, CFDs, and cryptocurrencies. The platform offers multiple account types, educational resources, and 24/5 customer support in various languages. It also provides various deposit and withdrawal options, making it easy for traders to manage their funds. One of the most significant advantages of FX Choice is the availability of the MetaTrader platform, which is a popular and user-friendly platform used by many traders worldwide. While there are some disadvantages, such as the limited availability of some services, FX Choice remains a reputable and reliable platform for both beginner and experienced traders looking to trade various financial instruments. Overall, with its comprehensive trading features, customer support, and user-friendly platform, FX Choice is an attractive choice for traders looking for a reliable online trading platform.

Frequently asked questions about FX Choice

• Question: What is FX Choice？

• Answer: FX Choice is an online forex and CFD broker that offers trading services to retail and institutional clients.

• Question: What types of accounts does FX Choice offer？

• Answer: FX Choice offers three types of accounts: Classic, Optimum, and Pro.

• Question: What is the minimum deposit to open an account with FX Choice？

• Answer: The minimum deposit to open a Classic account is USD 100, while the minimum deposit for an Optimum account is USD 10, and for a Pro account, it is USD 100.

• Question: What is the maximum leverage offered by FX Choice？

• Answer: FX Choice offers leverage up to 1:1000 for Optimum account and 1:200 for Classic and Pro accounts.

• Question: What trading platforms are available at FX Choice？

• Answer: FX Choice offers the popular trading platforms MT4, MT5, and WebTrader.

• Question: What are the deposit and withdrawal methods available at FX Choice？

• Answer: FX Choice offers various deposit and withdrawal methods, including credit cards, e-wallets, bank transfers, and cryptocurrencies.

• Question: Does FX Choice offer educational resources for traders？

• Answer: Yes, FX Choice provides educational resources such as market signals, autotrade, copy trading, VPS, news, trading signals, and EA.

Let's Start Here：

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 IRESS. 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 Information

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 MetaTrader 4 (MT4) and Iress.

Pros & Cons

TMGM has some strong points: solid regulation, competitive costs, lots of assets, and top-notch support. But there are a couple of downsides, like inactivity fees and no MT5 yet.

Is TMGM Legit？

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.

Market Instruments

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

Account Types

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. Opting for the IRESS trading platform brings you a choice of STANDARD, PREMIUM, and GOLD accounts. Plus, for those who prefer Swap Free accounts or want to practice with demo accounts, TMGM offers those options as well.

MT4 Accounts: EDGE and CLASSIC

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

IRESS Accounts: STANDARD, PREMIUM and GOLD

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.

Swap-Free Account

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 Account

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.

Leverage

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.

Spreads & Commissions

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:

Trading Platforms

TMGM offers two popular trading platforms for their clients: MetaTrader4 (MT4) and IRESS.

Available Devices	PC, Mac, Mobile (iOS and Android)
Language	English
Scalping
Hedging
Automated Trading
One-click Execution
Web-based Trading
Mobile Trading
MT5
IRESS
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.

IRESS, on the other hand, is a more sophisticated and feature-rich platform that is designed for more experienced traders. It offers advanced order management, risk management, and portfolio analysis tools, as well as advanced charting and technical analysis capabilities.

Both platforms are available on desktop, mobile, and web versions, providing traders with the flexibility to trade on their preferred device.

Additionally, MetaTrader5 is not provided yet, and according to the announcement of TMGM's website, this popular trading platform is coming soon.

Trading Tools

TMGM provides its traders with various trading tools to enhance their trading experience. These tools include:

• Trading Calendar: A calendar that shows the dates and times of upcoming economic events, including central bank meetings, interest rate decisions, and other important announcements.
• Market Sentiment Tool: A tool that allows traders to gauge market sentiment by analyzing the number of long and short positions held by other traders.
• ForexVPS: A virtual private server that allows traders to run their trading strategies 24/7 without the need for a personal computer.
• Trading Central: A research platform that provides traders with market analysis, trading ideas, and technical analysis tools to help them make informed trading decisions.
• Traders Terminology: Type the keyword or term that you are looking for or select the letters to see the list of words.
• Max-Calculator : The Max-Calculator is one of the best ways to help traders quickly evaluate the possible outcome of potential transactions or actions. In addition, this calculator will also help you calculate the margin easily.

Educational Contents	Available
HUBx
Trading Calendar
Market Sentiment Tool
ForexVPS
Trading Central
Traders Terminology
Max-Calculator

Deposits & Withdrawals

TMGM minimum deposit vs other brokers

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

Other Fees

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:

Customer Support

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.

Educational Resources

TMGM's special feature is TMGM Academy, and it's available in addition to the usual customer service. You may get a thorough education in foreign exchange trading by enrolling in the TMGM Academy. There are three levels to choose from Basic, Intermediate, and Expert.

The beginner stage prepares you for your journey into forex trading. The Beginner Stage develops a strong foundation based on understanding margin trading, how to read various types of charts, plus an introduction to trading instruments, oscillators, indicators, and support plus resistance.

TMGM Academies Intermediate Stage starts focusing on more technical aspects of forex trading. This includes considering indicators like MACD, RSI, ATRs, Moving Averages, and more. Additionally, TMGM introduces Fibonacci and Fundamental analysis, plus effective ways to employ them in trading.

The Advanced Stage in the TMGM Academy is where traders get deep into various trading strategies and how to apply them. This stage includes learning about advanced forms of Fibonacci extensions and retracements, RSI, correlation, and trade management.

Conclusion

To sum it up, TMGM stands out as a respected and regulated broker. They offer a diverse set of trading options and platforms, including the sought-after MetaTrader4 and IRESS. Plus, they shine when it comes to customer service and educational materials. Not to mention, their spreads and commissions are pretty darn competitive too. Now, the ball's in your court when it comes to choosing whether to go with this broker or explore other options. Hopefully, this review has shed some light on your decision-making process.

Frequently Asked Questions (FAQs)

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 is coming soon.

What is the minimum deposit for TMGM？

The minimum initial deposit at TMGM to open an account is $100.