Company Summary
No data
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GMI , TMGM Broker Comparison
Do you want to know which is the better broker between GMI and TMGM ?
In the table below, you can compare the features of GMI , TMGM side by side to determine the best fit for your needs.
- Rating
- Basic Information
- Benchmark
- Account Information
- Relevant information
- Relevant exposure
- Rating
- Basic Information
- Benchmark
- Account Information
- Relevant information
- Relevant exposure
2 brokers in total
Rating
Score
Regulatory Status
WikiFX Guarantee
WikiFX Survey
Risk Evaluation
Exposure
Official website
Basic Information
Established(years)
Regulatory license
MT4
MT5
Crypto
Deposit and withdrawal method
Benchmark
environment rating
Transaction Speed
Transaction speed rating
Average transaction speed(ms)
The highest transaction speed(ms)
The highest speed of opening positions(ms)
The highest speed of closing position(ms)
Slowest transaction speed(ms)
The lowest speed of opening positions
(ms)
The lowest speed of closing position(ms)
Trading slippage
Transaction slippage rating
Average slippage
Maximum transaction slippage
Maximum positive slippage
Maximum negative slippage
Transaction Cost
Transaction cost rating
- Average transaction cost (USD/Lot)
Rollover Cost
Rollover cost rating
- Average Rollover Cost (USD/Lot)
Disconnection results
Software disconnection rating
Average disconnection frequency (times/day)
Reconnection time(ms)
Account Information
Accounts
Account name
Products
Deposit REQ
Maximum Leverage
Spread of majors
Forced Liquidation Ratio
Spread Types
Minimum Position
Crypto
Lock postition
Scalping
EA trading
Pin on the left
7.48
Regulated
No guarantee
--
--
--
5-10 years
FCA
Supported
Supported
Skrill,dragonpay,Neteller,UnionPay,Pix,Bank transfer,fasapay,tether
AAA
AA
387.3
32
47
32
1984
1984
1937
AAA
EURUSD：-0.5
EURUSD：-1.5
28
-5
28
A
EURUSD：16.16
XAUUSD：27.25
AAA
EURUSD： -1.05 ~ 0.27
AAA
0.4
81.7
Standard Bonus,Standard,Cent,ECN
--
$25
1:2000
--
--
--
--
--
Pin on the left
7.51
Regulated
No guarantee
10-15 years
ASIC,VFSC
Supported
Supported
--
AA
A
506.7
6
6
6
1998
1998
1991
AAA
EURUSD：-0.3
EURUSD：-2.5
27
-2
27
AA
EURUSD：11.3
XAUUSD：19.2
AA
EURUSD： -6.35 ~ 2.66
XAUUSD： -36.21 ~ 21.34
AAA
0.3
88.8
Edge ,Classic
FX: 56 Bullion: 3 Oil: 2 CFD: 20 Crypto: 12 Shares: 48
$100
1：500
From 0
--
--
0.01
--
Score
Regulatory Status
Regulated
Regulated
GMI 、 TMGM BrokerRelevant information
TMGM BrokerRelevant exposure
Which broker is more reliable?
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 gmi, 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 broker introduction
gmi
| GMI Review Summary | |
| Founded | 2009 |
| Headquarters | United Kingdom |
| Regulation | FCA |
| Market Instruments | Gold, silver, crude oil, forex, index |
| Demo Account | ✔ ($100,000 virtual fund) |
| Islamic Account | ❌ |
| Leverage | 1:1000 |
| EUR/USD Spread | From 0.0 pips |
| Trading Platform | MT4, MT5, GMI EDGE |
| Copy Trading | ✔ |
| Minimum Deposit | $200 |
| Customer Support | Live chat, contact form |
| Phone: +86 400 842 7770 | |
| Email: cs@gmimarkets.com | |
GMI Information
GMI (Global Market Index) is a forex and CFD broker that offers trading services to retail and institutional clients. It was established in 2009 and is headquartered in the United Kingdom with offices in Cyprus and the UAE. The broker is regulated by the Financial Conduct Authority (FCA) in the UK. GMI offers a range of trading instruments, including gold, silver, crude oil, forex, and index via the MT4, MT5 and GMI EDGE platforms.
Pros & Cons
| Pros | Cons |
| • Regulated by FCA | • Limited range of trading instruments |
| • Wide range of account types | • Limited educational resources |
| • Competitive leverage | • Limited research and analysis tools |
| • Commission-free trading | • High minimum deposit requirement ($200) |
| • Copy trading feature supported | • Lack of info on deposits and withdrawals |
Note: The pros and cons listed above are not exhaustive and may vary based on individual preferences and circumstances.
Is GMI Legit？
GMI is a regulated forex broker, licensed by Financial Conduct Authority (FCA), which provides some level of safety and security for traders. However, it is important to note that regulation does not guarantee the complete safety of funds and trading with any broker carries a level of risk. It is important for traders to do their own research and due diligence before deciding to trade with any broker.
Market Instruments
GMI offers popular markets across different asset classes, including gold, silver, crude oil, forex, and index. Other assets like stocks, options and cryptocurrencies are not available.
Account Types
Apart from demo accounts with $100,000 virtual fund, GMI offers two live account types, Standard and ECN.
| Account Type | Minimum Deposit |
| Standard | $200 |
| ECN | $2,000 |
Leverage
GMI offers fixed/adjustableleverage, up to 1:1000 for Standard accounts and 1:500 for ECN accounts. It is important to keep in mind that the greater the leverage, the greater the risk of losing your deposited capital. The use of leverage can both work in your favour and against you.
| Account Type | Leverage |
| Standard | 1:1000 |
| ECN | 1:500 |
Spreads & Commissions
GMI offers spreads from 0.0 pips. It's important to note that spreads may vary depending on market conditions and liquidity. Traders may also be subject to additional fees such as swaps and overnight financing charges.
Regarding the commission, it varies depending on the type of account. There is no commission charged on the Standard accounts, while the commission for the ECN account is $4 per lot.
| Account Type | Commission |
| Standard | $0 |
| ECN | $4 per lot |
Trading Platforms
GMI offers its clients three choices of trading platforms, the popular MetaTrader 4, MetaTrader 5, and its proprietary GMI EDGE. Both MT4 and MT5 are equipped with a variety of tools and features for technical analysis, order management, and customization. They also support automated trading with the use of Expert Advisors (EAs). GMI EDGE can be downloaded through Android and Web devices.
Copy Trading
GMI offers copy trading features that allow traders to copy the strategies of successful traders. This enables traders to learn from experienced individuals and potentially benefit from their proven track records. GMI's copy trading platform promotes knowledge sharing and community-driven trading in a simple and accessible manner.
Customer Service
Live chat, contact form
Phone: +86 400 842 7770
Email: cs@gmimarkets.com
Conclusion
Based on the analysis of GMI, it is a regulated and reputable broker that offers competitive spreads and commissions, and a choice of different account types, as well as good customer support. One downside of GMI is its limited range of trading instruments and educational resources. Additionally, it requires a high minimum deposit to open an account. Overall, GMI is a solid option for traders who prioritize MT4/5, demo trading and competitive pricing.
FAQs
Is GMI regulated？
Yes. GMI operates legally, and it is regulated by FCA in the UK.
Does GMI offer demo accounts？
Yes. GMI offers demo accounts with $10,000 virtual capital.
Does GMI offer industry-standard MT4 & MT5？
Yes. Both MT4 and MT5 are available.
What is the minimum deposit for GMI？
$200.
Is GMI a good broker for beginners？
Yes. Overall GMI is a good choice for beginners because it offers a wide variety of trading assets with competitive trading conditions on the leading MT4 and MT5 platforms. Also, it offers demo accounts that allow traders to practice trading without risking any real money. But the minimum deposit requirement of $200 may be high for beginners.
Risk Warning
Online trading carries substantial risk, potentially leading to the total loss of invested funds. It may not be appropriate for all traders or investors. It's crucial to fully comprehend the associated risks before engaging in trading activities.
Additionally, the content of this review is subject to change, reflecting updates in the company's services and policies. The review's creation date is also relevant, as information could have become outdated. Readers should confirm the latest information with the company prior to making any investment decisions. The responsibility for utilizing the information provided herein lies exclusively with the reader.
tmgm
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 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 |
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 MT4 and MT5.
Pros & Cons
| 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 |
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. 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 |  |  |
STANDARD, PREMIUM and GOLD Account types:
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% |
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.
| Broker | TMGM | Exness | FXTM | IC Markets |
| Max. Leverage | 1:500 | 1:Unlimited | 1:2000 | 1:500 |
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:
| 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 |
Trading Platforms
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.
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
| 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 | ||||
 |
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:
| 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 |
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.
| 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 |
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.
What is the minimum deposit for TMGM?
The minimum initial deposit at TMGM to open an account is $100.
Are the transaction costs and expenses of gmi, tmgm lower?
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 gmi and tmgm are, we first considered common fees for standard accounts. On gmi, the average spread for the EUR/USD currency pair is -- pips, while on tmgm the spread is From 0.
Which broker between gmi, tmgm is safer?
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.
gmi is regulated by FCA. tmgm is regulated by ASIC,VFSC.
Which broker between gmi, tmgm provides better trading platform?
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.
gmi provides trading platform including Standard Bonus,Standard,Cent,ECN 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.