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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.

Risk Warning

Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.

General Information

What is NordFX？

NordFX is a forex broker that offers over 30 currency pairs, bitcoin, other cryptocurrencies, gold and silver for your personal investment and trading options. It was established in 2008 and is registered in Vanuatu. NordFX provides online trading platforms and free training. The MetaTrader platforms also provide automated trading and market signals. However, it currently does not have any valid regulation.

In the following article, we will analyze the characteristics of this broker from various aspects, providing you with simple and organized information. If you are interested, please read on. At the end of the article, we will also briefly make a conclusion so that you can understand the broker's characteristics at a glance.

Pros & Cons

NordFX offers a wide range of financial instruments, providing traders with diverse trading opportunities. The availability of MetaTrader 4 across multiple devices enhances the convenience and accessibility of trading.

However, it is important to note that NordFX is an unregulated broker, which introduces higher risks to traders, especially regarding fund management and security. There have been reports of withdrawal issues, indicating potential challenges in this area.

NordFX Alternative Brokers

There are many alternative brokers to NordFX depending on the specific needs and preferences of the trader. Some popular options include:

• IC Markets - Best broker on the market with fast support and flawless spreads and order execution.

• Roboforex - Fast money deposit and withdrawal with similar spreads and commission for Forex and gold as other brokers but on stocks roboforex is King.

• AvaTrade - Good trading conditions overall with multiple CFD trading instruments and high number of forex pairs.

Ultimately, the best broker for an individual trader will depend on their specific trading style, preferences, and needs.

Is NordFX Safe or Scam？

NordFX does not hold any valid regulatory licenses at this stage and its Vanuatu Financial Services Commission (VFSA) license is revoked and Cyprus Securities and Exchange Commission (CYSEC, License No. 209/13) license is a suspicious clone.

It is important to note that trading with an unregulated broker can be risky as there is no guarantee that the broker will act in the best interest of the trader. Regulated brokers are required to follow strict rules and regulations which are designed to protect traders from fraudulent activities.

Market Instruments

NordFX provides a diverse range of market instruments for traders to choose from. They offer a selection of FX pairs, allowing traders to participate in the foreign exchange market and take advantage of currency fluctuations.

Additionally, NordFX provides access to trading metals, such as gold and silver, offering opportunities for investors interested in the precious metals market. Cryptocurrencies are also available for trading, allowing traders to speculate on the price movements of popular digital assets like Bitcoin, Ethereum, and more.

Furthermore, NordFX offers CFDs on indices and stocks, enabling traders to trade popular global indices and individual stocks. Lastly, oil trading is available, allowing traders to participate in the energy markets by speculating on the price of crude oil.

Accounts

NordFX provides traders with a variety of account options to suit their individual needs. They offer demo accounts, allowing traders to practice their strategies and familiarize themselves with the trading platform without risking real money.

For live trading, NordFX offers three main account types: Fix, Pro, and Zero. The Fix account has a low minimum deposit requirement of $10, making it accessible to traders with smaller capital. The Pro account requires a minimum deposit of $250 and provides additional features and benefits, such as lower spreads and access to a broader range of trading instruments. The Zero account, with a minimum deposit of $500, is designed for more advanced traders who require tight spreads and direct market access.

Leverage

NordFX offers traders competitive leverage options, allowing them to amplify their trading positions. With leverage of up to 1:1000, traders can control larger positions in the market with a smaller amount of capital. This high leverage enables traders to potentially generate higher profits from successful trades.

However, it is important to note that while leverage can magnify profits, it also increases the risk of losses. Traders should exercise caution and carefully manage their risk when utilizing high leverage.

Spreads & Commissions

NordFX offers competitive spreads and commissions across its different account types. The Fix account has a spread starting from 2 pips, making it suitable for traders who prefer fixed spreads. The Pro account offers a tighter spread starting from 0.9 pips, appealing to traders who seek lower transaction costs. However, it's important to note that the Zero account stands out with a spread starting from 0.0 pips, providing traders with the potential for better pricing and reduced trading costs.

While the Fix and Pro accounts do not charge any commissions, the Zero account requires a commission of 0.0035% per trade on each side. Traders should consider their trading preferences and strategies to choose the account type that best aligns with their needs.

Below is a comparison table about spreads and commissions charged by different brokers:

Please note that the spreads and commissions may vary depending on the specific account types and trading conditions offered by each broker. It's advisable to refer to the official websites or contact the brokers directly for the most up-to-date and accurate information.

Trading Platforms

NordFX provides traders with the popular and widely recognized MetaTrader4 (MT4) platform, available for Windows, Mac, iPhone, and Android devices. MT4 is known for its user-friendly interface, advanced charting tools, and a wide range of technical indicators and analysis tools. With MT4, traders can access real-time market data, place trades, set stop-loss and take-profit levels, and manage their positions efficiently.

The platform also supports automated trading through expert advisors (EAs), allowing traders to implement and test their own trading strategies. Additionally, NordFX offers mobile versions of MT4, enabling traders to stay connected and manage their trades on the go.

Overall, NordFX's provision of MT4 across multiple devices ensures convenience, flexibility, and a seamless trading experience for its clients.

See the trading platform comparison table below:

Trading Tools

NordFX offers a range of useful trading tools designed to enhance the trading experience and provide valuable market insights. Traders can access various analysis tools, including technical analysis reports and market news updates, which can help them make informed trading decisions. The Economic Calendar feature keeps traders updated on important economic events and their potential impact on the markets. NordFX also offers Trading Signals, which provide valuable trading ideas and recommendations generated by experienced analysts.

For traders who require uninterrupted trading, NordFX offers Virtual Private Server (VPS) hosting, ensuring reliable and high-speed trading execution. Additionally, the Trader's Calculator helps traders calculate position sizes, profit/loss, and other important trading parameters. Lastly, the Currency Converter tool allows for quick and easy conversion of currencies. These trading tools provided by NordFX aim to empower traders with valuable information, analysis, and resources to support their trading strategies and decision-making processes.

Deposits & Withdrawals

NordFX offers a variety of convenient deposit and withdrawal options to cater to the diverse needs of its clients. Traders can fund their accounts using Bank Transfer, Bank Cards, Online Payment Systems, Online Exchange Services, and Internal Transfer.

Base Currencies:

USD, EUR, CNY, IDR, GBP, VND, THB, PHP

NordFX minimum deposit vs other brokers

The minimum deposit requirement is set at a low amount of $10, making it accessible for traders of different levels.

Most deposits are free of charge and processed instantly, allowing traders to quickly start trading. Withdrawals are typically processed within 1 business day, ensuring efficient access to funds. However, it's important to note that withdrawal fees may vary depending on the chosen withdrawal method.

Customer Service

NordFX places a strong emphasis on customer support and offers multiple channels for traders to get in touch with their team. Clients can utilize the online chat feature on their website for immediate assistance, or they can opt to contact NordFX through phone or email. Additionally, traders have the option to send messages online for any inquiries or concerns they may have. NordFX also maintains an active presence on various social media platforms, including Telegram, Twitter, Facebook, Instagram, YouTube, LinkedIn, and Pinterest.

Overall, NordFX's customer service is considered reliable and responsive, with various options available for traders to seek assistance.

Note: These pros and cons are subjective and may vary depending on the individual's experience with NordFX's customer service.

User Exposure on WikiFX

On our website, you can see that some reports of unable to withdraw. Traders are encouraged to carefully review the available information and consider the risks associated with trading on an unregulated platform. You can check our platform for information before trading. If you find such fraudulent brokers or have been a victim of one, please let us know in the Exposure section, we would appreciate it and our team of experts will do everything possible to solve the problem for you.

Education

NordFX provides a range of educational resources to support traders in their journey. They offer comprehensive information and resources on various topics, including Forex trading, through their dedicated Forex section. Traders can access a glossary that helps them understand key trading terms and concepts. Additionally, NordFX has a learning center that offers educational materials, tutorials, and guides to enhance traders' knowledge and skills. They also provide useful articles that cover market analysis, trading strategies, and other relevant topics.

Conclusion

In conclusion, NordFX offers a wide range of financial instruments, competitive trading conditions, and multiple trading platforms, making it an attractive choice for traders. However, it is important to note that NordFX is an unregulated broker, which may raise concerns regarding the safety of funds and overall credibility. Traders should exercise caution and carefully evaluate the associated risks before deciding to trade with NordFX. It is recommended to conduct thorough research, seek additional information, and consider alternative regulated brokers that provide stronger regulatory oversight and investor protection.

Frequently Asked Questions (FAQs)