TMGM Review| Best CFD Broker?

TMGM Broker Review Basics

🌎 Headquarters	Established in 2013, headquartered in Sydney
⚖️ Regulation:	Trademax Global Limited licensed by VFSC (license number 40356)
💰 Minimum Deposit:	$100 (Classic & Edge accounts), $1,000 (IRESS Standard account)
💳 Deposit Options:	Bank wire, Credit/Debit cards, E-wallets
🪙 Withdrawal Options:	Bank wire, Credit/Debit cards, E-wallets
📈 Trading Platforms:	MetaTrader 4 (MT4), MetaTrader 5 (MT5), IRESS
🎓 Educational Resources:	Beginner’s guide, articles, videos, market analysis, glossary
📞 Customer Support:	24/5 via live chat, email, phone
📌 Open an account:	Start Trading with TMGM

Our Opinion About TMGM

TMGM is a well established and reputable forex and CFD broker that has been serving traders across Africa for over a decade. With a strong focus on providing a seamless trading experience, TMGM offers a diverse range of trading instruments, competitive pricing, and advanced trading platforms. In our comprehensive review, we’ll explore every aspect of this forex broker to help you make an informed decision as an African trader.

Regulation in Africa

TMGM is regulated by several financial authorities across Africa, ensuring that the broker adheres to strict regulations and operates with transparency in the region. Some of the key regulators overseeing TMGM’s operations in Africa include:

• The Financial Services Commission (FSC) in Mauritius
• The Financial Markets Authority (FMA) in New Zealand
• The Vanuatu Financial Services Commission (VFSC)

This multijurisdictional regulatory oversight provides an additional layer of security for African traders, giving them peace of mind when trading with TMGM.

TMGM Forex Broker Review: Legit or Scam?

Based on our thorough evaluation, TMGM is a legitimate and trustworthy broker that prioritizes the safety and security of its clients’ funds. The company’s long standing presence in the African market, coupled with its strong regulatory compliance, speaks volumes about its credibility and commitment to ethical business practices. This forex broker is not a scam.

TMGM Trading Instruments

TMGM offers a diverse range of trading instruments, catering to the needs of both novice and experienced traders in Africa. Here’s an overview of the assets available:

•  Forex: Over 50 currency pairs, including majors, minors, and exotics
•  Stocks: Access to over 10,000 global stocks from major exchanges
•  Indices: More than 15 global indices, such as S&P 500, DAX 30, and FTSE 100
•  Cryptocurrencies: 12 major cryptocurrencies, including Bitcoin and Ethereum
•  Commodities: Energies (crude oil, natural gas), precious metals (gold, silver, platinum), and more

With such a comprehensive selection, TMGM in Africa provides ample opportunities for diversification and exposure to various financial markets for African traders.

TMGM Account Types

Before you sign up for TMGM, you will need to choose a live account. There are several solutions offered, each catering to different strategies and experience levels. We have broken down each account type below:

Classic Account

The Classic account is TMGM’s entry level offering, designed for traders of all experience levels. With a low minimum deposit of $100 and no commission fees, it’s an accessible option for those starting their trading journey. The spreads start at a reasonable 1.0 pips, and traders gain access to the entire range of forex, commodities, cryptos, shares, and indices available on the MT4 and MT5 platforms.

Edge Account

TMGM’s Edge account caters to traders of the Muslim faith, providing a swapfree environment that adheres to Islamic financial principles. With no interest or swap charges on overnight positions, traders can trade with peace of mind. Also, the account offers competitive spreads starting from 0 pips and a commission of $3.50 per lot, making it an attractive choice for those seeking Sharia Compliant trading conditions.

IRESS Accounts

For traders seeking advanced trading capabilities and access to TMGM’s comprehensive range of CFD shares, the IRESS accounts are the ideal choice. These accounts come in three tiers – Standard, Premium, and Gold – each with varying minimum deposit requirements, commission rates, and platform fees. The IRESS platform offers direct market access, advanced charting tools, and seamless integration with TMGM’s extensive selection of global stocks.

Note: TMGM accounts will be charged a $30 inactivity fee per month if your account balance falls below $500 or if no trades are placed in six months.

Account Type	Minimum Deposit	Spreads	Commissions	Other Fees
Classic	$100	From 1.0 pips	No Commission	–
Edge	$100	From 0 pips	$3.50 per lot ($7 round turn)	Financing fee
IRESS Standard	$5,000	–	2.25 cps, min. $10	Platform fee $35/45 per month (waived with 10+ trades)
IRESS Premium	$10,000	–	2cps	Inactivity fee if no trades
IRESS Gold	$50,000	–	1.8cps	Inactivity fee if no trades

Trading Tools

TMGM provides its clients with a comprehensive suite of trading tools designed to enhance their trading experience and decision making process. These tools include:

•  Advanced charting capabilities
•  Technical analysis indicators
•  Realtime news and market updates
•  Trading signals
•  Economic calendars
•  Calculators
•  Educational resources

TMGM Leverage, Spread and Commissions

Leverage

TMGM offers flexible leverage options, with ratios up to 1:500 for all account types. This high leverage allows traders to amplify their potential returns, although it’s essential to use leverage responsibly and manage risk effectively. The broker’s leverage offerings cater to both novice and experienced traders, providing ample opportunities for capital optimization.

Spreads 

TMGM’s spreads are highly competitive, starting from as low as 0.1 pips for the ECN account. Also, the Edge account offers spreads from 0 pips, while the Classic account’s spreads begin at 1.0 pips. These tight spreads contribute to lowering trading costs, making TMGM an attractive choice for traders seeking cost-effective trading conditions.

Commissions

TMGM in Africa follows a transparent pricing model when it comes to commissions. The Standard and Islamic accounts do not incur any commissions, while the ECN account charges a commission of $6 per lot (round turn), and the VIP account charges $4 per lot (round turn). These commission rates are in line with industry standards, ensuring fair and competitive trading conditions for TMGM clients.

TMGM Deposits and Withdrawals

Deposits

TMGM offers African traders a secure and convenient deposit process through a diverse range of payment methods. Clients across the continent can fund their accounts via bank wire transfers, credit/debit cards (Visa, Mastercard, UnionPay), and popular e-wallets like Skrill, Neteller, FasaPay, RMB Direct Pay, and Revolut. The minimum deposit requirement is $100, and TMGM does not charge any fees for deposits, ensuring a cost-effective way to start trading.

Withdrawals

Withdrawing funds from TMGM accounts is an equally straightforward process for African traders. Clients can request withdrawals using the same payment methods available for deposits, ensuring a familiar and convenient experience. TMGM does not impose any withdrawal fees, allowing traders to access their funds without incurring additional costs. The broker is committed to prompt withdrawal processing, with most requests handled within 24 hours, ensuring that African traders can manage their funds efficiently.

TMGM Registration – How To Open A Trading Account

Opening a trading account with TMGM is straightforward and can be completed entirely online:

1.  Provide personal and contact information
2.  Choose your account type and base currency
3.  Verify your identity and address by uploading documents
4.  Complete the application (typically takes around 15 minutes)
5.  Approval usually happens within one business day

TMGM Trading Platforms

TMGM provides access to industry leading trading platforms, including:

•  MetaTrader 4 (MT4)
•  MetaTrader 5 (MT5)
•  IRESS

These platforms are available on desktop, web, Android, and iOS devices, allowing traders to access the markets from anywhere.

TMGM Education and Research

TMGM recognizes the importance of continuous learning and development for traders. The broker offers a comprehensive education center featuring:

•  Video tutorials
•  Webinars
•  Ebooks
•  Educational resources covering basic to advanced trading concepts

Additionally, the forex broker provides access to in-depth market analysis, daily technical and fundamental reports, and real time news updates.

TMGM Customer Support

TMGM takes pride in its exceptional customer support, offering prompt and knowledgeable assistance through various channels:

• Live chat
• Email
• Telephone
• Multilingual support staff available 24/5

Our Verdict

Based on our comprehensive review, this forex broker emerges as a reputable and trustworthy broker for African traders. With its strong regulatory compliance, diverse range of trading instruments, competitive pricing, and advanced trading platforms, TMGM caters to traders of all levels in Africa. Additionally, the broker’s commitment to education, research, and customer support further solidifies its position as a top choice in the region.

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