TMGM Commission or Brokerage Charges – Review, Plans, FAQs & moreLast Updated Date: Apr 27, 2022
Check out everything about TMGM Commission or Brokerage Charges here.
TMGM is an international ECN broker that offers trading services to trade on thousands of trading instruments that include CFDs trading, metals, indices, energies, stocks, cryptos, commodities, and shares.
Some all the exclusive advantages of trading with TMGM are:
- No forex fees
- Easy and fast account opening process
- Free deposit and withdrawal
- Low minimum deposit
- The web trading platforms and mobile trading applications can be easily customized according to their needs.
- Multiple languages are available
In this article, we would be discussing the commission charges and various other charges that the company has.
TMGM Commission or Brokerage Charges
The company allows its users to trade in these through the MetaTrader 5, Metatrader 4, Iress, and HubX trading platforms.
Some of the exclusive features that make TMGM stand out in the market are tighter spreads, lower trading fees, faster and enhanced execution speeds with deep liquidity.
The minimum balance required to open a trading account is just $100.
TradeMax Global Markets or TMGM is mostly an online trader that provides trading services to retail providers, individual traders, and professional trading institutions.
Broking house follows the ECN execution model and offers maximum leverage up to 1:500.
TMGM has one of the lowest trading fees in general.
The company does not charge any brokerage fee which the other traders do.
This simply means that you can use their services to trade frequently like multiple times a week or daily.
Some of the different types of trading fees that the company charges are:
- There are specific brokerage charges that you need to pay when you want to do a trade. This payment can be informed of a commission, spread, or financing rate.
- The commission charges are mostly based on the traded volume or it is fixed
- The Spread charge is the difference between the buying price and the selling price.
- The financing rate or overnight rate might be charged when you hold leveraged positions for more than a day.
- Non-trading fees include the fee that is charged to make operations in your account like deposit fee or withdrawal money or inactivity fee.
The company mostly deals in two types of currency pairs that are:
- EURUSD which is a popular currency pair
- EURGBP which is another favored currency pair
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Types of TMGM Commission Plans
|Types of Commission Plans|
|Account Type||Edge Account||Classic Account|
|Spread||0.0 pips||1.0 pips|
|Commission||$7 per round||No Commission|
Like the other trading companies or brokers, TMGM also provides its users with various types of trading accounts.
All these trading accounts are different from each other and have unique features.
These trading accounts have been developed based on the preferences and tastes of various users and traders.
With the help of these trading accounts or commission plans, you can trade in various assets and instruments that TMGM provides.
These trading accounts can be accessed from the official website of the company or the various trading platforms that they provide or the mobile trading application.
In this section of the article, we would be discussing the types of commission plans that the company provides.
The company provides two types of trading accounts or commission plans that are:
An Edge Account:
The initial deposit or the minimum deposit to open an edge account is $100, the spread charges are 0.0 peps, the commission charges are about $7 per lot and the leverage is about 1:500.
A Classic Account:
The minimum deposit or the initial deposit amount is $100, the spread charges start from 1.0 pips, no commission is charged for Freddy’s on this account and the leverage charged is 1:500.
The company also features an Islamic Account which is available for all Muslim traders.
All the features of the Islamic account comply with the Sharia law and are available upon request and submission of identity proof.
This swap-free account was developed for clients who can’t receive or pay the interest due to their religious beliefs.
The Islamic account is only available for the traders who have applied for the Edge account.
A Demo Account has also been developed by the company so that the users can practice online trading with virtual funds.
With the help of this demo call me you can sharpen your trading skills, try your various trading strategies and get to know more about the trading market and the trading process.
TMGM Account Opening Process
The account opening process is quite simple and fast and you can follow the steps carefully.
- In the first step, you have to visit the official website of the company, click on the ‘open and trading account tab’.
- Now you will be redirected to the application page where you have to fill up some of the necessary details about yourself and then click on submit. Remember to stay in proper detail as your data would be verified.
- After submission, your EKYC verification process will be started where you have to verify your identity by providing a copy of an identity card.
- After successful verification, your account would be opened and the login credentials would be sent to your email address.
- Now you can log in to your trading account from the various platforms or mobile trading applications that the company provides.
- Remember to alter the password after logging in for the first time.
TMGM Payment or Withdrawal Methods
|Deposit Options||Credit Card, FasaPay, Neteller, Skrill, Union Pay, Wire Transfer|
|Withdrawal Options||Neteller, Skrill, Wire Transfer|
The very first thing that you need to do after opening a trading account is adding funds to it.
Some trading companies directly allow you to deposit from your digital wallet or your bank whereas the others follow some specific payment methods.
After earning a specific amount of money, you can directly transfer it to your bank account or your wallet depending on the process that your trading company offers.
TMGM provides many payment methods and the company does not charge any extra amount for deposits or withdrawals.
Most of these methods are commonly available in most countries but if any method is not available you can directly contact the company.
- Deposit Method: Credit Card, FasaPay, Neteller, Skrill, Union Pay, Wire Transfer
- Withdrawal Method: Neteller, Skrill, Wire Transfer
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TMGM Investment Assets
|Supported Cryptocoins||bitcoin, bitcoin cash, ethereum, litecoin, ripple|
|Total Tradable Assets||N/A|
|Number Of Currency Pairs||15000|
|Number Of Cryptocurrencies||50|
|Number Of Stocks||15000|
|Number Of Indices||12|
|Number Of Commodities||5|
|Number Of Futures||5|
|Number Of Options||N/A|
|Number Of Bonds||N/A|
|Number Of ETFs||N/A|
The users are traders who have registered themselves with TMGM and can read in various acids and CFDs that include commodities, futures, and various other assets.
In this section of the article, we would be discussing the assets that TMGM provides.
- The traders are allowed to invest in currency trading, commodities trading for my license training, stock setting, cryptocurrency trading, and ETFs
- TMGM also allows its users to trade in futures trading.
- The company also support Bitcoins like Bitcoin, Bitcoin Cash, Ethereum, Litecoin, Ripple
- The number of currency pairs in which you can trade-in is about 15,000, the number of cryptocurrencies is 50 the number of stocks in which you can trade-in is 15, 000 the number of indices you which you can trade in is 12, the number of commodities in which you can trade-in is 5 by and the number of indices in which you can trade-in is also 5.
TMGM Commission – Conclusion
The company has a highly professional and independent customer service section with several account types to meet all the trader’s needs.
The company promises its clients access to lightning speed executions and thin spreads and also provide some of the best trading conditions that any other trading company can provide:
- Exclusive partnership with top tier liquidity providers
- The broker is powered by the OneZero financial technology
- State of the art Equinix data centers in various cities that include New York NY4 and Tokyo TY3.
The broker has built one of the best environments for Automated Trading to thrive in this market.
The company allows hedging, scalping, news trading, and various other features.
TMGM is regulated and monitored by the Vanuatu Financial Services Commission and the Australia Security and Investment Commission.
The company also has the Australia Financial Services License.
The company is known to hold the client funds in a pooled client trust account which is segregated from the company’s main bank account.
TMGM provides services in most of the countries where there is permission for online trading with international brokers.
However, it is not available in some of the countries that include the USA, Iran, Japan, and the Democratic People’s Republic of Korea.
By now, you should have a clear-cut picture of the commission charges, spread amounts, financial rates, and the non-rating fees that TMGM charges.
To get to know more about the fee details you can also visit the official website of TMGM.
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TMGM Charges or Fees – FAQs
Here is the list of FAQs related to the TMGM Brokerage Charges FAQs:
Does TMGM charge commission?
The company has various types of charges with values on the type of trading account.
No extra charges are charged as a commission by the company that is the trading fee or the commission charged is almost zero.
How much does TMGM charge brokerage?
The brokerage charge depends on the type of trading account that the user has opened with TMGM.
For more details on the brokerage charge, you can visit the official website and check the fee structure.
What is the Minimum Deposit required in TMGM?
The minimum deposit amount or the initial deposit required to open a trading account with TMGM is $100.
This is quite competitive and the prices are one of the best in the market.
How much leverage does TMGM provide?
The leverage charged by the company depends on the type of commission plan that you have selected.
The maximum leverage amount that the company can charge is 1:500.
How much is Spread at TMGM?
The spread charge is the difference between the buying price and the selling price of a specific trade or instrument.
The spread charge is quite low thus making it quite competitive in the market.
What type of Commission Plans are available in TMGM?
The company provides three types of commission plans that include an Edge Account and a Classic Account.
Both the trading accounts have unique features that differ from one another. The Edge account also offers Islamic swap-free account features.
Does TMGM provide Cryptocurrency for Investment?
Yes, the company allows its leaders to invest in cryptocurrencies that include Bitcoin, Bitcoin-cash, Ethereum, Litecoin, Ripple.
Is TMGM a legit Forex Broker?
TMGM is considered to be one of the safest online traders as it is monitored by various governing bodies that include the Vanuatu Financial Services Commission and the Australia Security and Investment Commission.
The company segregates the client funds and the company funds and they are stored in Tier 1 bank accounts.
Can I invest in TMGM for $5?
The minimum amount required to start investing in TMGM is $100 and thus you are not allowed to invest with $5.
Are there any hidden charges available with TMGM?
The company does not have any extra charge or hidden charge attached to any of the services that they provide to its users.
The traders can view the fee structure of the company before investing and they would also be receiving the list of fees that would be charged in their email.
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