Score

7.48 /10
Good

TMGM

Australia

10-15 years

Regulated in Australia

Market Maker (MM)

MT4 Full License

Global Business

High potential risk

Offshore Regulated

AA
A

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Comparison

Quantity 23

Exposure

Open Account
Website

Score

Regulatory Index8.19

Business Index8.25

Risk Management Index0.00

Software Index9.99

License Index8.19

The WikiFX Score of this broker is reduced because of too many complaints!
Open Account
Website

Licenses

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

open now

Regulatory disclosure

Danger

ID BAPPEBTI
2022-09-20
"Bappebti Blocks 760 Website Domains, Reminds of the Risk of Transactions in Unlicensed PBK Entities"
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Danger

MY SCM
2022-01-01

Broker Information

More

Company Name

Trademax Australia Limited

Company Abbreviation

TMGM

Platform registered country and region

Australia

Company website

X

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YouTube

Linkedin

WhatsApp

Company summary

Pyramid scheme complaint

Expose

Check whenever you want

Download App for complete information

WikiFX Risk Alerts 2
Previous Detection : 2025-03-25
  • The number of the complaints received by WikiFX have reached 20 for this broker in the past 3 months. Please be aware of the risk and the potential scam!
  • The Vanuatu VFSC regulation with license number: 40356 is an offshore regulation. Please be aware of the risk!

WikiFX Verification

TMGM · Benchmark
Average transaction speed(ms)
465.4
The highest transaction speed(ms)
78 Great
The highest speed of opening positions(ms)
78 Great
The highest speed of closing position(ms)
93 Great
The lowest speed of opening positions(ms)
1997 Poor
The lowest speed of closing position(ms)
1938
Ranking: 29 / 123
Test user 9,358
Transactions 54,546
Ocuppied margin $37,029,113 USD
Data Source WikiFX Data provide
Updated: 2025-03-24 01:03:00
Pyramid scheme complaint
Expose
Severe Slippage

The Tmgm platform has serious slippage, and the platform suspended customer accounts without authorization, resulting in a loss of 3370.2[d83d][dcb2]. After communicating with the account manager, he blocked me and lost contact.

On September 13, 2022, the Tmgm platform system was unstable and had serious slippage, causing our 1.7 lots of gold to lose 3370.2[d83d][dcb2]. After the incident, it was reported to the platform account manager that the account manager had an arrogant attitude. At noon the next day, without our consent, my account was blocked at will, and the account balance of 614[d83d][dcb2] was not refunded. Immediately close the communication loss. We strongly request the Tmgm platform to compensate USD 3370 and refund USD 614, total: USD 3984.

2022-09-16 17:26
Scam

TMGM's Inaction and Arbitrary Deletion of Customer Accounts and MT4 Accounts

I have encountered inappropriate conduct at the forex broker TMGM, which includes: 1. Customer managers engaging in inappropriate marketing activities, enticing clients to invest funds. 2. The company's involvement in fund hedging operations. 3. Exploitation of A-book and B-book trading practices. 4. Trading at non-market prices. 5. Misappropriation of client funds. 6. Failure to deposit client funds into regulated custodial accounts. 7. Failure to execute trades in the actual interbank market. TMGM arbitrarily terminated my trading account and deleted my MT4 account. Both accounts are now completely deactivated and inaccessible, with all login attempts being denied.

2025-03-19 20:00
Others

Withdrawals from the platform resulted in restrictions on my bank card, and the platform has not responded to handle the issue.

On February 8, 2025, I requested a withdrawal of 656.3 USD, which was credited as 4740 RMB to my bank card on February 10, 2025. Shortly after, I received a notice from the bank about a limit being placed on my account. When I went to the bank counter, they indicated that there was an issue with the 4740 RMB transaction and required the contact number of the sender for verification. I contacted online customer service and sent an email explaining that I needed assistance from the platform, but they have not contacted me to address the issue.

2025-02-11 16:48
Severe Slippage

Unable to Close Positions Resulting in a Loss of $1910

On February 24, 2025, Monday, from 23:38 to 23:42, the MT5 software froze completely during a time with no major data releases or abnormal market fluctuations. This freeze prevented me from closing my positions. Consequently, at 23:47, the price was stuck at 2944, with no visible market data fluctuations. I suffered significant losses as I was unable to close my positions when the price was at 2936 around 23:40. My account was showing a profit of $3000, but when I attempted to close the positions, the price jumped to 2940!!! I demand compensation for my account due to your server issues. My internet connection was fine and it wasn't just me experiencing these issues. The compensation calculation is as follows: (2939.82 - 2936) = 3.82 * 5 lots = 19.1 * 100 = $1910. You claim that this situation is normal; however, if I had chosen to close all positions normally, then there wouldn't be two open short positions at 2936. Attached are screenshots for your reference.

2025-02-25 16:24
Severe Slippage

Tmgm is a gambling platform and cannot be profitable. There is a stop loss, and the position cannot be closed, and the slippage is serious.

The Tmgm platform is a fake platform. It is a gambling platform that cannot make a profit. It has a stop loss and still cannot close a position. The account manager explained that the market was very big yesterday. If the market is very big, the stop loss and profit may be broken. Excuse me, who is still playing on your platform, watching losses and liquidating their positions? This is not the first time that such a thing has happened, and the last time it was impossible to close the position, resulting in serious losses! Tmgm pay back my hard-earned money!

2022-09-14 12:14
Resolved

Tmgm has serious slippage, and the platform suspended customer accounts without authorization, resulting in a loss of $3370.2

On September 13, 2022, the Tmgm platform system was unstable and had serious slippage, causing our 1.7 lots of gold to lose 3370.2[d83d][dcb2]. After the incident, it was reported to the platform account manager that the account manager had an arrogant attitude. At noon the next day, without our consent, my account was blocked at will, and the account balance of 614[d83d][dcb2] was not refunded. Immediately close the communication loss. We strongly request the Tmgm platform to compensate USD 3370 and refund USD 614, total: USD 3984. Slippage loss situation on September 13, 2022 1. 0.5 lot, bid price: 1723.51, stop loss: 1728, transaction 1715.62, loss: (1728-1715.62) * 0.5 lot * 100 yuan / lot = 619﹩ 2, 0.5 lot , bid price: 1712.98, stop loss: 1728, transaction 1705.86, loss: (1728-1705.86) * 0.5 lot * 100 yuan / lot = 1107﹩ 3. 0.3 lot, bid price: 1703.36, stop loss: 1728, transaction 1705.24, Loss: (1728-1705.24)*0.3 lots*100 yuan/lot=682.8﹩ Fourth, 0.2 lots, buying price: 1706.60, stop loss: 1728, transaction 1706.75, loss: (1728-1706.75)*0.2 lots*100 yuan/ Lot = 425﹩ 5. 0.2 lot, bid price: 1708.15, stop loss: 1728, transaction 1701.18, loss: (1728-170,1.18) * 0.5 lot * 100 yuan / lot = 536.4﹩ five strokes total: 3370.2

2022-09-16 17:43
    Sources
    TMGM · Company summary

    Let's start here:

    TMGM appears to a respected forex broker, presenting access to 12,000 tradbale instruments 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.

    Quick TMGM Review Summary
    Founded2013
    HeadquartersSydney, Australia
    RegulationASIC, VFSC (Offshore)
    Market Instruments12,000, forex, indices, metals, energies, shares, cryptos
    Demo Account
    Islamic Account
    Account TypeStandard, ECN, Pro
    Min Deposit$100
    LeverageUp to 1:1000
    EUR/USD SpreadFloating around 0.0 pips
    Trading PlatformMT4/5, TMGM App
    Deposit & Withdrawal Fee
    Customer Support24/7 live chat
    Tel: +61 2 8036 8388
    Fax: +61 2 8036 8388
    Email: support@tmgm.com
    Regional RestrictionUSA

    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 12,000 trading instruments spanning forex, indices, metals, energies, shares, and cryptos, TMGM caters to traders through popular platforms including MT4 and MT5.

    TMGM's homepage

    Pros & Cons

    ProsCons
    • ASIC regulation• No US clients accepted
    • Competitive spreads and low commissions
    • 12,000 trading instruments
    • MT4 and MT5 platforms offered
    • 24/7 multilingual cutsomer support
    • Multiple account types with flexible options
    • Rich educational resources

    Is TMGM Legit?

    TMGM, a regulated broker, holds authorization from the tier-one regulator ASIC. 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 AuthorityCurrent StatusRegulated Entity License Type License Number
    ASICRegulatedTRADEMAX AUSTRALIA LIMITEDMarket Making(MM)436416
    VFSCOffshore RegulatedTrademax Global LimitedRetail Forex License40356

    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.

    regulated by ASIC

    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.

    WikiFX survey
    WikiFX survey

    TMGM's international branch, Trademax Global Limited, operates under the offshore regulation and authorization ofVFSC, holding a license for retail forex activities.

    offshore regulated by VFSC

    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 energies, 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 AssetsAvailable
    Forex
    Indices
    Metals
    Energies
    Shares
    Cryptos
    Bonds
    Options
    ETFs
    Market Instruments 1
    Market Instruments 2

    Account Type

    TMGM offers three account types, including Standard, Pro, and ECN, with minimum deposit requirement of 100 USD. Islamic account and demo account are both avaiable for these three live account types.

    Account TypeStandard ProECN
    Min Deposit$100
    Min Lot Size0.01 lot
    Max Leverage1:1000
    Margin Call Level40%
    SpreadFrom 1.6 pipsFrom 0.7 pipsFrom 0.0 pips
    Commission$7 for currency pairs, $5 for precious metals
    EA
    Scalping
    News Trading
    Islamic Account
    Demo Account
    {051244FC-D034-4D28-B794-4A2983DB6DDF}.png

    Leverage

    TMGM offers quite a high trading leverage up to 1:1000 on all account types.

    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.

    BrokerMax Leverage
    TMGM
    1:1000
    Exness
    1:Unlimited
    HFM
    1:2000
    Pepperstone
    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. Found detailed info in the table below:

    Account TypeStandard ProECN
    SpreadFrom 1.6 pipsFrom 0.7 pipsFrom 0.0 pips
    Commission$7 for currency pairs, $5 for precious metals

    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.

    Trading Platforms

    TMGM offers popular trading platforms for their clients: MetaTrader4 (MT4), MetaTrader5 (MT5), and TMGM App.

    Trading PlatformSupported Available Devices Suitable for
    MT4iOS, Android, WindowsBeginners
    MT5iOS, Android, WindowsExperienced traders
    TMGM AppMobile, PC/
    Trading Platforms

    Deposits & Withdrawals

    TMGM minimum deposit vs other brokers

    TMGMMost 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 DepositMin Withdrawal FeesDeposit TimeWithdrawal Time
    NZD, USD, AUD, EUR, CAD$100$1001-3 Working Day1 Working Day
    label
    USDInstant
    label
    NZD/1 Working Day/
    label
    USD$100Instant1 Working Day
    label
    USD, EUR, GBP, AUD, NZD, CAD1 Working Day
    label
    label
    CNY/Instant/
    label
    $1001 Working Day
    label
    USD//
    label
    USD, EUR, GBP, AUD, NZD, CAD3 Working Days
    label
    MYR, THB, IDR, VND$100Instant
    label
    USD, EUR, GBP, AUD, NZD, CAD/
    label

    Customer Support

    TMGM offers 24/7 customer support through multiple channels including live chat, phone, email, and social media (YouTube, Twitter, Facebook, Instagram and LinkedIn).

    Contact ChannelsDetails
    label
    24/7 live chat
    label
    Tel: +612 8036 8388
    label
    Email: support@tmgm.com
    label
    Sydney office, Melbourne Office, Adelaide Office, Canberra Office, Auckland Office
    Facebook
    https://www.facebook.com/TMGMgroup
    Instagrm
    https://www.instagram.com/tmgmgroup/
    Youtube
    https://www.youtube.com/tmgmgroup
    X
    https://x.com/TMGMgroup
    Linkedin
    https://www.linkedin.com/company/tmgmgroup

    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?

    Yes.

    Does TMGM offer the industry-standard MT4 & MT5?

    Yes. Both MT4 and MT5 are available.

    What is the minimum deposit for TMGM?

    The minimum initial deposit at TMGM to open an account is $100.

    News

    NewsTMGM – Featured Broker in WikiFX SkyLine Guide

    WikiFX, as a leading global third-party information service platform, is dedicated to providing investors with the most reliable information services. To cater to the localized and personalized needs of investors in different regions, WikiFX has launched the SkyLine Guide, which first selected 25 outstanding brokers in Thailand. Additionally, WikiFX will release a series of related reports, with this article focusing on one of the featured brokers — TMGM.

    WikiFX
    2024-11-01 14:36
    TMGM – Featured Broker in WikiFX SkyLine Guide

    NewsTMGM Review 2024: A Complete Guide for Traders

    TMGM Broker Review 2024: A comprehensive overview of TMGM's regulatory status, trading platforms, and customer support to guide traders in making informed decisions.

    WikiFX
    2024-10-03 16:16
    TMGM Review 2024: A Complete Guide for Traders

    NewsDon't Miss out!! TMGM Global Trading Contest

    Attention all traders! Are you ready to test your skills and strategies? TMGM has announced its Global Trading Contest. The TMGM Global Trading Competition allows you to demonstrate your talent. You have an opportunity to win cash from a pool worth $468,600.

    WikiFX
    2024-09-30 17:45
    Don't Miss out!! TMGM Global Trading Contest

    ExposureASIC Halts TMGM Retail Trader Onboarding for 21 Days

    ASIC imposes a 21-day suspension on TMGM for inadequate checks in its retail trader onboarding process.

    WikiFX
    2024-05-23 17:54
    ASIC Halts TMGM Retail Trader Onboarding for 21 Days

    User Reviews

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    User comment

    56

    Comments

    Write a review

    FX3694750942
    0-3months
    我在外汇经纪商TMGM遇到了不当行为,包括: 1. 客户经理进行不适当的市场营销活动,诱使客户将资金用于投资 2. 公司参与基金对冲操作 3. A-book和B-book交易实践的利用 4. 以非市场价格进行交易 5. 挪用客户资金 6. 未将客户资金存入受监管的托管账户 7. 未在实际的银行间市场执行交易 TMGM 任意终止了我的交易账户并删除了我的 MT4 账户。这两个账户现在完全停用且无法访问,所有登录尝试都被拒绝。
    我在外汇经纪商TMGM遇到了不当行为,包括: 1. 客户经理进行不适当的市场营销活动,诱使客户将资金用于投资 2. 公司参与基金对冲操作 3. A-book和B-book交易实践的利用 4. 以非市场价格进行交易 5. 挪用客户资金 6. 未将客户资金存入受监管的托管账户 7. 未在实际的银行间市场执行交易 TMGM 任意终止了我的交易账户并删除了我的 MT4 账户。这两个账户现在完全停用且无法访问,所有登录尝试都被拒绝。
    Translate to English
    2025-03-19 20:00
    Reply
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    FX3409033863
    0-3months
    平台本该保持公平公正,本该解冻黑代理账号后赔付的资金由于贵平台派来的专员和黑代理黑吃黑,专员故意失联四天让我联系不到,让骗子把钱提走,给我造成很大损失
    平台本该保持公平公正,本该解冻黑代理账号后赔付的资金由于贵平台派来的专员和黑代理黑吃黑,专员故意失联四天让我联系不到,让骗子把钱提走,给我造成很大损失
    Translate to English
    2025-03-16 14:31
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