What is TMGM?
TMGM is a Global broker offering traders access to CFDs in Forex, Metals, Energies, Indices, Shares and CryptoCurrencies. At the beginning of the development, TMGM group started its operation in Australia back in 2013 when received its license from ASIC to provide OTC derivative and forex trading. Further on, for years of the progress and continuously strives, the company brought consistent and reliable DMA (Direct Market Access) trading environment without any human intervention.
Is TMGM safe or a scam?
TMGM is a safe broker to trade due to its regulatory status, since Trademax Australia Limited is a financial services company regulated by the Australian Securities and Investments Commission (ASIC)which adheres to strict standards. The ASIC regulation is among the strictest authorities worldwide, which ensures the stability and trustable maintain guidelines with the protection of the client.
Also, there is a TradeMax Global Limited entity that falls under the laws of Vanuatu, an offshore zone. While generally, we do not recommend trading with offshore brokers due to lack of requirements, since TradeMax holding an additional reputable license it is considered safe to trade.
Trading Platforms
A wide range of products across various subsidiaries within the group supports traders of different preferences. The variety includes 100+ currencies, Commodities, Indices, Futures, Cash DMA Stocks, Options, Bonds and ETFs that are accessible through the trading platform, the most popular MT4 available through PC, Web and Mobile versions.
Along with that, the inbuilt platform IRESS. Making IRESS a better choice over MetaTrader 4 if you plan to trade shares since IRESS allows you to trade on exchanges in the following countries – United States, Australia, The United Kingdom, Hong Kong, China and Singapore.
The other benefit of IRESS is that it offers exchange pricing and market depth. This is because IRESS uses Direct Market Access (DMA) trading. DMA means you Level 2 Market Depth Order Book pricing, that is you can view live orders from institutional liquidity providers connected to the exchange.
The main thing to be aware of is the high minimum deposit fee of $5,000 USD. So IRESS is for serious traders only. To use IRESS you will need an IRESS account. Minimum deposits for IRESS are high as DMA trading is mostly for professional traders. The cost will differ between stock exchanges. The below shows costs for US stock exchanges.
Conclusion
Overall, the TMGM review researched the brokerage Group, which strives and bring comprehensive technologies for daily Forex trading operations. In terms of regulations and reliability, TMGM maintained safe trading operations according to the heavy requirements of ASIC, hence the investors are protected by many means.
Nevertheless, we would be glad to know your personal opinion about TMGM, share your experience or refer to us for some additional information through the comment area below.