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Do you want to know which is the better broker between TMGM and TriumphFX ?
In the table below, you can compare the features of TMGM , TriumphFX side by side to determine the best fit for your needs.
EURUSD:-0.3
EURUSD:-2.5
EURUSD:11.3
XAUUSD:19.2
EURUSD: -6.35 ~ 2.66
XAUUSD: -36.21 ~ 21.34
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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 tmgm, triumphfx 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:
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.
TriumphFX Review Summary in 10 Points | |
Founded | 2009 |
Headquarters | Cyprus |
Regulation | BaFin, CYSEC |
Market Instruments | Forex, precious metals |
Demo Account | Available |
Leverage | 1:30 for retail/1:500 for professional |
EUR/USD Spread | 0.4 pips |
Trading Platforms | MT4 |
Minimum deposit | $/€/£100 |
Customer Support | phone, email |
TriumphFX was founded in 2009 and is based in Cyprus, providing professional online trading services to investors, traders, and institutional clients through a robust NDD and STP order processing model.
TriumphFX is regulated by Federal Financial Supervisory Authority (BaFin) and Cyprus Securities and Exchange Commission (CySEC). TriumphFX is also registered with Financial Conduct Authority (FCA) and Vanuatu Financial Services Commission (VFSC), but these two licenses have already been revoked.
TriumphFX has been brought into a series of scandals about the inability to withdraw funds, illegal brokers, as well as failing to log in to its official website, etc. Please be aware of the risk.
TriumphFX offers competitive trading conditions with low spreads, multiple account types, and MT4 trading instrument. Additionally, the broker is regulated by reputable authorities and offers negative balance protection. However, too many complaints from users saying that they have difficulty withdrawing. And their educational resources, research and analysis tools are limited compared to other brokers.
Pros | Cons |
• Regulated by BaFin and CYSEC | • Too many complaints from users |
• Offers multiple account types | • Limited range of tradable instruments |
• Competitive trading conditions | • Limited educational resources |
• Wide range of payment methods available | • No 24/7 customer support |
• User-friendly MT4 trading platform | • Limited research and analysis tools |
Note: The above table is based on general information and may not be comprehensive. Pros and cons may vary depending on individual experiences and circumstances. Each trader has unique needs and preferences, so it is important to carefully consider your own trading style and goals when selecting a broker.
There are many alternative brokers to TriumphFX depending on the specific needs and preferences of the trader. Some popular options include:
XM: This is a popular forex broker that is known for its low spreads, multiple trading platforms, and excellent customer service. They are regulated by multiple top-tier authorities, including the ASIC, CySEC, and FCA, which makes them a safe and reliable choice.
Pepperstone: This broker offers a wide range of trading instruments, low spreads, and fast trade execution speeds. They are also regulated by top-tier authorities such as the FCA and ASIC, which ensures that they are a trustworthy option.
IG: This broker offers a variety of trading instruments, competitive pricing, and a user-friendly trading platform. They are also regulated by top-tier authorities such as the FCA, which ensures that they adhere to strict financial regulations and are a safe and reputable broker.
Based on the information provided on TriumphFX's website, as well as their regulatory status, it seems that TriumphFX takes measures to protect its clients' interests and promote a safe trading environment. They are licensed and regulated by reputable authorities, and have implemented several security measures to ensure the safety of its clients' funds, such as segregated accounts and negative balance protection. However, there have been some negative reviews from clients regarding withdrawal issues, which is a red flag.
Protection Measure | Detail |
Regulation | BaFin and CYSEC |
Investor Protection | Segregated client funds are separated from the firm's operational accounts. The clients' funds are kept in leading investment global banks. |
Negative Balance Protection | Your live trading account balance is always protected from dipping into a negative status and TriumphFX will absorb the loss if it does. |
It's important to note that while TriumphFX takes steps to protect its clients, no broker can guarantee complete protection against all risks. Clients should always do their own research and carefully consider the risks involved in trading before making any investment decisions.
TriumphFX offers investors a small range of trading instruments, including over 60 pairs of the most popular major currency pairs in the Forex market, minor currency pairs, exotic currency pairs, as well as precious metals such as gold and silver.
To meet the investment needs and trading experience of different investors, TriumphFX offers three different types of accounts, namely Classic Accounts, Gold Accounts, and Premium Accounts. The minimum deposit requirement is 100. The base currencies of the accounts are EUR, USD, and GBP, and the minimum trade lot size is 0.01. Demo accounts are also available.
TriumphFX, as a Cyprus-regulated broker, offers the maximum trading leverage of up to 1:30 for retail clients. Traders can adjust the leverage according to their knowledge and experience, and professional clients can trade with a maximum leverage of up to 1:500.
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.
All spreads with IMS FX are a floating type and scaled with the asset class. The minimum spread on the TriumphFX platform is 0.4 pips for EURUSD, 0.1 pips for EURGBP, 1.2 pips for GBPUSD, 0.8 pips for USDJPY, 1.7 pips for XAUUSD, and 1.7 pips for XAGUSD. It seems that there is no commission charged.
Below is a comparison table about spreads and commissions charged by different brokers:
Broker | EUR/USD Spread | Commission |
TriumphFX | 0.4 pips | No |
XM | 0.1 pips | No |
Pepperstone | 0.1 pips | No |
IG | 0.6 pips | No |
Note: Spreads can vary depending on market conditions and volatility.
TriumphFX offers traders the flexibility to choose from the market-leading and widely acclaimed MT4 trading platform, as well as MT4 Windows, MT4 iOS, and MT4 Android. MT4 is known as the ideal forex trading platform with powerful charting and data analysis tools, an intuitive and clear interface, and support for EA intelligence. MT4 can develop suitable trading strategies for traders of different levels, helping traders to trade with ease.
See the trading platform comparison table below:
Broker | Trading Platform |
TriumphFX | MetaTrader4 |
XM | MetaTrader4, 5 |
Pepperstone | MetaTrader4, 5 |
IG | MetaTrader4, ProRealTime, L2 Dealer, IG Trading Platform |
All four brokers offer MetaTrader4 and have mobile, web, and desktop versions available. XM and Pepperstone also offer MetaTrader5, while IG has a wider range of trading platforms including ProRealTime, L2 Dealer, and its own IG Trading Platform.
TriumphFX offers several trading tools designed to help traders stay informed and up-to-date with the latest market trends and developments. The economic calendar provides real-time updates on upcoming economic events and their potential impact on the markets, while the FX analysis and news section offers daily market commentary and analysis from TriumphFX's team of experts. These tools can be especially useful for traders who rely on fundamental analysis to make informed trading decisions.
Additionally, TriumphFX offers access to a variety of technical analysis tools, including charting and indicators, that can be used to identify trading opportunities and potential market trends. Overall, TriumphFX's trading tools can be a valuable resource for traders looking to stay ahead of the markets and make more informed trading decisions.
TriumphFX supports clients by depositing and withdrawing funds to their investment accounts via Visa, MasterCard, Bank Wire, Neteller, and Skrill/Moneybookers.
The minimum deposit amount is $/€/£100.
No commissions are charged on deposits. For any deposit equivalent or above $500, TriumphFX will reimburse the Intermediary Bank Charges. Regardless however, all Local Bank Charges incurred by the sending bank will not be reimbursed. Your deposits will be processed within 2-3 business days from the day your funds are sent from your bank account. After confirmation of your deposits, your funds will be immediately credited into your trading account.
Traders withdrawing funds via NETELLER and Skrill/Moneybookers pay 1% commission and while via VISA & MasterCard, the withdrawal fee is $3/€2/£2. For Bank Wire withdrawals, if your withdrawal amount is less than €1,000, the fees will be $30/€20/£25, and any above will be charge + 0.15%. All withdrawals are subjected to intermediary bank charges ranging from $25 to $75 per transaction. It will take 2-5 business days to process your request.
TriumphFX | Most other | |
Minimum Deposit | $/€/£100 | $/€/£100 |
In order to create a Withdrawal Request please:
Step 1: Login to your trading account ( https://secured.triumphfx.com/login ) .
Step 2: Go to the Withdrawals Section.
Step 3: Click Create Withdrawal and choose the method you want to withdraw your Funds.
Step 4: Fill in all the required fields.
Step 5: Submit the web form.
TriumphFX offers customer support via phone, email, and online messaging. You can also follow this broker on social networks such as Facebook, Instagram and LinkedIn. Overall, the customer service of TriumphFX appears to be satisfactory.
TriumphFX offers a range of educational resources to help traders improve their trading knowledge and skills. These resources include Forex essentials and Forex glossary. Additionally, TriumphFX offers a demo account for traders to practice their trading strategies and get familiar with the platform before trading with real money. Overall, TriumphFX's educational resources can be a valuable asset for both new and experienced traders looking to improve their trading skills.
All in all, TriumphFX seems to be well-regulated, but there are numerous negative reviews from users. Many users have reported difficulties in withdrawing funds, and some have even accused TriumphFX of being an illegal Ponzi scheme. Despite offering attractive trading conditions, the high number of negative reviews and accusations of illegal activity should be a red flag for potential investors. It is important to thoroughly research any broker before investing and to exercise caution when dealing with TriumphFX.
Q 1: | Is TriumphFX regulated? |
A 1: | Yes. It is regulated by BaFin and CYSEC. |
Q 2: | Does TriumphFX offer industry-standard MT4 & MT5? |
A 2: | Yes. TriumphFX supports MT4. |
Q 3: | What is the minimum deposit for TriumphFX? |
A 3: | The minimum initial deposit with TriumphFX is $/€/£100. |
Q 4: | Is TriumphFX a good broker for beginners? |
A 4: | No. It is not a good choice for beginners. There are too many negative reviews from their users saying that they have difficulty withdrawing. |
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 tmgm and triumphfx are, we first considered common fees for standard accounts. On tmgm, the average spread for the EUR/USD currency pair is From 0 pips, while on triumphfx the spread is From 0.1.
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.
tmgm is regulated by ASIC,VFSC. triumphfx is regulated by BaFin,CYSEC,FCA,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.
tmgm provides trading platform including Edge ,Classic and trading variety including FX: 56 Bullion: 3 Oil: 2 CFD: 20 Crypto: 12 Shares: 48. triumphfx provides trading platform including Premium Account,Gold Account,Classic Account and trading variety including --.