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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 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

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.

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 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

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.

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.

General Information of FX Corp

FX Corp is a regulated financial services provider offering a range of foreign exchange solutions to individuals and businesses. With its headquarters in Sydney, Australia, the company operates under the regulatory oversight of the Australia Securities & Investment Commission (ASIC).

For individuals, FX Corp facilitates international payment services for various purposes, including real estate transactions, luxury goods purchases, investments, inheritance management, overseas income handling, and mobile payments. Their goal is to provide efficient and secure solutions for conducting international transactions in these areas.

For businesses, FX Corp specializes in commercial foreign exchange services, catering to diverse industries. Whether it's a small online retailer or a growing global company.

FX Corp offers a range of foreign exchange products to align with businesses' goals and requirements. These include spot contracts, which involve immediate purchase or sale of foreign exchange at prevailing rates, and forward exchange contracts (FECs).

Pros and Cons

Is FX Corp Legit?

FX Corp Pty Ltd, also known as FX Corp, is a regulated entity. It is regulated by the Australia Securities & Investment Commission (ASIC) in Australia. The company holds a full license under the authority of ASIC with the license number 459050. The license was granted to FX Corp Pty Ltd on October 30, 2014.

International Money Transfers

FX Corp's international transfer service is available in 60 currencies for over 80 international/regional locations worldwide, with payments to most countries/regions taking 1-2 business days. There are two most common payment networks in the global payments arena, the SWIFT and the Automated Clearing House (ACH), with the former requiring a $60 transaction fee.

Commercial

FX Corp offers commercial foreign exchange solutions for businesses operating in various industries, ranging from small online retailers to fast-growing global companies. They understand the challenges faced by businesses expanding geographically and aim to provide tailored and modernized payment processes to meet their needs.

To support businesses in achieving their goals, FX Corp operates at the forefront of the foreign exchange services landscape. They have extensive experience working with businesses in different industries, similar to the ones they serve. By leveraging their expertise, FX Corp can enhance and improve the existing setup of businesses, helping them optimize their foreign exchange capabilities.

FX Corp's dedicated relationship managers play a crucial role. These managers keep businesses updated on the latest developments in foreign exchange and ensure that their FX capabilities remain adaptable to changing market conditions. They offer insights, advice, and support that are critical for the success of businesses' expansion plans into new markets.

FX Corp Personal

FX Corp provides international payment services for individuals buying and selling real estate, buying and selling luxury goods, investments, inheritance, overseas income, mobile, etc. The personal services offered by FX Corp focus on providing international payment solutions for individuals. These services cater to various needs such as buying and selling real estate, buying and selling luxury goods, managing investments, handling inheritances, managing overseas income, and facilitating mobile payments.

FX Corp Products

FX Corp offers a range of foreign exchange products to align with businesses' specific goals and requirements. These products can be utilized simultaneously for different projects based on factors such as profit margin or time to completion. It is important for finance teams, who often face time constraints and pressure to meet reporting and accounting deadlines, to carefully consider FX transactions and products.

FX Corp specialists are available to assist finance teams in selecting suitable FX products while ensuring they can manage their other responsibilities effectively. By leveraging FX Corp's resources and experience, businesses can choose products that maximize their chances of success and minimize the impact of unfavorable currency movements.

Spot Contracts: One of the basic and commonly used FX products is the spot contract. Spot payments involve a binding obligation to buy or sell a specific amount of foreign exchange for fast delivery. These transactions are conducted at the prevailing live spot rate and typically settle within two business days.

Forward Exchange Contracts (FECs): FX Corp also offers forward foreign exchange contracts (FECs), which allow businesses to “lock in” an exchange rate for a specific date in the future. The forward rate for an FEC is calculated based on the current spot rate, time to maturity, and the interest rate differential between the two currencies involved. FECs provide businesses with greater certainty for forecasting costs or profits without the need to pre-purchase currency and deplete their cash flow. While a deposit may be required, the full payment of the contract amount is not necessary until the maturity date.

Customer Support

FX Corp provides customer support through various channels. The primary contact method is through phone, and customers can reach their customer support team at the phone number 02 8076 9535. This phone support allows customers to directly communicate with FX Corp's representatives to address their inquiries, concerns, or seek assistance regarding their services.

Additionally, FX Corp has a physical office located in Sydney, Australia. The office is situated at Level 14, 1 Castlereagh Street, Sydney, NSW, 2000. Customers can visit the office in person if they prefer face-to-face interactions or have specific needs that require an in-person meeting.