TMGM review
TMGM (Trademax Global Markets) is an Australian forex and CFD broker that obtained its ASIC licence (AFSL 436416) in 2013, later adding Trademax Equities (also ASIC-authorised) in 2017. Its core entity is regulated by ASIC, a Tier-1 regulator, with client funds held via a National Australia Bank partnership, while separate entities are licensed by Vanuatu's VFSC, Seychelles' FSA and Mauritius' FSC, all lighter-touch regimes used for international clients. The broker offers MetaTrader 4, MetaTrader 5 and IRESS (for equities, with a $5,000 minimum deposit) across forex, CFDs, indices, commodities, shares, ETFs and crypto derivatives, and carries a $10 million civil liability insurance programme, unusually large for a broker of its size.
TMGM key facts
- Website: www.tmgm.com
- Category: Multi-asset forex, CFD and equities broker
- Founded: 2013 (ASIC licence granted)
- Headquarters: Sydney, Australia
- Regulation: ASIC (Australia, AFSL 436416), VFSC (Vanuatu), FSA (Seychelles), FSC (Mauritius)
- Platforms: MetaTrader 4, MetaTrader 5, IRESS, TMGM App
- Minimum deposit: From low deposit on Classic account; $5,000 for IRESS equities
- Markets: 12,000+ symbols: forex, CFDs, indices, commodities, shares, ETFs, crypto derivatives
- FYI Score: 89.7/100 (ranked #25 of the 136 CFD brokers we track)
Regulation & licences
- The core Australian entity is regulated by ASIC (AFSL 436416), a Tier-1 regulator, since 2013.
- Trademax Equities, formed in 2017, is a separate ASIC-authorised entity for equities access via IRESS.
- Additional entities are licensed by Vanuatu's VFSC (registration 40356), Seychelles' FSA (licence SD224) and Mauritius' FSC (licence GB22201012), all materially lighter regimes typically used for international clients.
- The group carries a $10 million civil liability insurance programme and partners with National Australia Bank (NAB) for client fund security.
Spreads & fees
- Classic account: spread-only pricing, advertised spreads from as low as 0.1 pips.
- Edge account: commission-based, reported around $3.50 per side ($7 round-trip) alongside tighter spreads.
- IRESS equities access requires a $5,000 minimum deposit, materially higher than the forex/CFD account minimums.
- Exact average spread data is not consistently disclosed across third-party reviews.
Platforms & tools
- MetaTrader 4 and MetaTrader 5 are the core forex/CFD platforms, alongside the TMGM App for mobile.
- IRESS is offered separately for equities trading, though third-party reviewers describe it as less suited to forex-focused traders.
- VPS hosting is available for algorithmic trading.
- The TMGM Academy education programme was discontinued in 2023, reducing in-house educational content.
Markets & instruments
- 12,000+ symbols advertised in total, spanning forex, CFDs, indices, commodities, shares, ETFs and crypto derivatives.
- 12 cryptocurrency derivative pairs.
- Precious metals, gold and oil are specifically marketed instrument categories.
- Third-party reviewers note MT5 has a more restricted symbol range than the broker's advertised total.
Account types
- Classic account: spread-only pricing, no commission.
- Edge account: raw-style spreads plus a per-side commission.
- IRESS equities account: $5,000 minimum deposit, separate from the standard forex/CFD accounts.
- TMGM reports presence in 150+ countries and cites over $2 trillion in cumulative trading volume.
Markets
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Platforms
MetaTrader 4, MetaTrader 5, IRESS, TMGM App
Who TMGM is for
TMGM suits traders who want ASIC-level oversight with a broad instrument range and the option of equities access via IRESS, more than traders prioritising in-house education, since its Academy programme was discontinued in 2023.
Pros
- Genuine Tier-1 ASIC regulation since 2013, backed by a $10 million civil liability insurance programme, unusually large for the broker's size.
- Wide instrument range (12,000+ symbols advertised) including equities access via IRESS, not just forex/CFDs.
- Low minimum deposit and competitive commission pricing on the Edge account.
- High-profile sponsorships (Chelsea FC, Brooklyn Nets, UNICEF) signal marketing scale for a broker of this size.
Cons
- International clients are commonly routed through the Vanuatu, Seychelles or Mauritius entities, all materially lighter-touch regimes than ASIC.
- In-house education was reduced when the TMGM Academy programme was discontinued in 2023.
- MT5 symbol availability is reported as more restricted than the broker's advertised total instrument count.
- IRESS, the equities platform, requires a comparatively high $5,000 minimum deposit and is described by reviewers as less suited to forex-focused traders.
TMGM FAQ
Is TMGM regulated?
Its core entity is regulated by Australia's ASIC (AFSL 436416), a Tier-1 regulator, alongside a separate ASIC-authorised entity, Trademax Equities. Additional entities are licensed by Vanuatu's VFSC, Seychelles' FSA and Mauritius' FSC, commonly used for international clients seeking different leverage terms.
What trading platforms does TMGM support?
MetaTrader 4 and MetaTrader 5 for forex and CFDs, plus IRESS for equities trading (which requires a $5,000 minimum deposit) and the TMGM App for mobile access.
What account types does TMGM offer?
A Classic account with spread-only pricing and no commission, and an Edge account with tighter spreads plus a per-side commission of around $3.50 ($7 round-trip).
Does TMGM offer real stocks or only CFDs?
Both are possible depending on platform: forex, indices, commodities and crypto are offered as CFDs/derivatives via MetaTrader, while equities access through IRESS is a separate product requiring a $5,000 minimum deposit.
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