Note: TRADEMAX is to operate via the website - https://www.tmgm.com/, which is currently not yet functional and no information about the company was immediately available. Therefore, we could only gather relevant information from the Internet to present a rough picture of this broker.
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 & Regulation
TRADEMAX, a trading name of TRADEMAX GLOBAL MARKETS, is allegedly a forex broker registered in Australia that claims to provide its clients with various tradable financial instruments with leverage up to 1:500 and floating spreads from 0.0 pips on the MT4, MT5 and web-based iRESS trading platforms via two different live account types.
As for regulation, it has been verified that TRADEMAX currently has no valid regulation. That is why its regulatory status on WikiFX is listed as “No License” and receives a relatively low score of 1.37/10. Please be aware of the risk.
Market Instruments
TRADEMAX advertises that it is a forex company that trades in forex, shares, indices, precious metals, energies, and futures.
Account Types
TRADEMAX claims to offer two types of trading accounts - Edge and Classic, each one of them accompanied by a demo account. The minimum initial deposit requirement for both account types is $100.
Leverage
The leverage provided by TRADEMAX is capped at 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.
Spreads & Commissions
All spreads and commissions with TRADEMAX are scaled with the accounts offered. Specifically, clients on the Edge account can enjoy raw spreads from 0.0 pips but have to pay a commission of $3.5 ($7.0 round turn), while the Classic account holders can experience spreads from 1.0 pips and commission-free trading.
Trading Platform Available
The platform available for trading at TRADEMAX is one of the most notable and preferred trading platforms the market offers - MetaTrader4 and MetaTrader5 trading platforms, as well as iRESS web trading platform. Mt4 and MT5 are highly praised by traders and brokers alike due to their ease of use and great functionality, offering top-notch charting and flexible customization options. They are especially popular for their automated trading bots, a.k.a. Expert Advisors.
Deposit & Withdrawal
TRADEMAX says to work with numerous means of deposit and withdrawal choices, consisting of Visa, MasterCard, bank transfer, Neteller, Skrill, UnionPay, Revolut, WISE, RMB, FasaPay, SticPay, and BrokerToBroker. The minimum initial deposit requirement is $100, and the minimum withdrawal amount is $100 as well. The withdrawal fee is said to be free and the processing time is 1 business day.
Customer Support
TRADEMAX‘s customer support can be reached by telephone: +61 2 8036 8388, email: support@tmgm.com. However, this broker doesn’t disclose other more direct contact information like the company address that most transparent brokers offer.
Pros & Cons
Frequently Asked Questions (FAQs)
