TMGM Trading Account – Review, Types, Process, Benefits, Charges and more

Find out everything about TMGM Trading Account here.

TradeMax Global Markets (TMGM) is an authorized online broker that offers various trading services that include Forex and CFD to individual retail traders and other professional institutions.

The trading company provides all its clients with sophisticated platforms that include better trader 4, meta trader 5, Iress, and Hubx trading platforms.

TMGM is regulated and authorized by various governing bodies that include the Australian Securities and Investment Commission (ASIC) and the Vanuatu Financial Services Commission (VFSC).

TMGM Trading Account and Benefits

Now, if you have decided to trade in assets with TMGM you have to open a trading account with the company.

With this trading account, you can directly invest in assets that include CFDs, currency pairs, and many others.

Each of the trading companies provides different types of trading accounts which are packed with various features which differ from each other.

TMGM how’s it going up two types of trading accounts, one is the Edge account and the second one is the Classic account.

Some of the exclusive benefits offered by the trading accounts are:

• Over 15,000 trading instruments to trade on
• The company does not charge any commission for either of the trading accounts
• ECN trading account
• Various trading platforms include MT4, MT5, and IRESS.
• 24×5 customer service is also available.
• Strict regulation thus providing superior protection
• The spread amount starts from zero
• Over 10 free funding options
• Both the trading accounts are Islamic swap free
• Free VPS services
• MAMM services are also available

More about TMGM

The company also holds an Australian financial services license that helps it segregate the client funds from the company funds in tier 1 bank accounts.

The company was established in 2013 and was only providing trading services to specific regions of Australia.

But after years of investment in R&D and product development, it has become an online broker and is one of the biggest trading destinations in Australia and the Asia Pacific regions.

TMGM is known to implement the ECN execution model and offers estimated leverage of up to 1: 500.

The minimum deposit or the initial deposit amount is just $100 that makes it quite competitive.

TMGM provides over 15,000 financial CFD instruments that offer seven different types of assets that include metals, commodities, forex, Cryptocurrency, and shares from various countries and include Hong Kong from Australia and the US.

The broker provides educational materials and research tools for all its clients and the customer service is available in various languages, 24 hours and 5 days a week in live chat, telephone, and email.

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TMGM Trading Account Charges

The trading account charges directly depending on the type of trading account that you are selecting.

The average leverage amount is up to 1:500. The chargers also depend on their set or the instrument in which you are trading.

• For indices, the leverages are 1:100
• In case of Forex, the leverage is 1:500 and the spread amount starts from 0.0 pips
• For precious metals, the leverage amount is 1:400
• For energies, the leverage amount is 1:100
• The initial deposit or the minimum deposit amount is $100. For one of the accounts, the commission amount is $7 per round but the spread amounts are tighter.
• TMGM also charges an inactivity fee. If your account balance falls below $500 or remains inactive for over 6 months, you will be charged an inactivity fee of $30.

Types of TMGM Trading Account

Like all the trading firms, TMGM has also developed trading accounts.

Each of these trading accounts is different and has exclusive features.

These accounts have been developed keeping in mind the various mindsets of different traders from different parts of the globe.

These trading accounts can be accessed from the trading platforms, the official website of the company, and the mobile trading application.

TMGM has developed two types of trading accounts:

Edge Account

The TMGM Edge Account has one of the lowest spread amounts and it starts from zero pips. A small commission of $7 per standard lot per round turn is charged.

This account is most suitable for the traders who are using strategies that require tighter spreads. Some of the exclusive features of the Edge Account are:

• Raw spread starts from zero pips
• 5 dollars ($7 round turn) commission rates
• The minimum deposit is $100
• The minimum lot size is 0.01 lot
• The maximum leverage amount is 1:500
• Free funding
• ECN execution
• EA is available
• Islamic swap account is supported
• Hedging is allowed
• Accepted currencies are USD, EUR, GBP, NZD, AUD, and CAD.
• No minimum stop loss distance
• Stop out level is at 40%
• Scalping is allowed

Classic Account

The TMGM classic account has a spread amount that starts from one pip but no commission is charged as it is already included within the spread amount. This trading account is preferred usually by traders who are using mid to long-term trading strategies that are not spread dependent.

Some of the exclusive features are:

• Variable spread starts from 1.0 pips
• No commission is charged
• The minimum deposit is $100
• The minimum lot sizes 0.01 lot
• The maximum leverages are 1:500
• Free funding methods
• ECN execution is available
• EA feature
• Hedging is allowed
• Accepted currencies are CAD, NZD, GBP, AUD, EUR, and USD
• Scalping is allowed
• News trading is also allowed
• There is no minimum stop loss distance

Islamic swap-free Account

An Islamic account has also been developed for all the Muslim followers who follow Sharia law. So, these five three accounts are only available for Muslim traders.

According to Sharia law, the followers cannot pay any tax or commission whenever they are trading.

So, this is not mixed up free accounts provided to the Muslim clients who cannot receive or pay any kind of interest due to their religious beliefs.

This swap-free account is only available in the TMGM as an account.

To avail of the Islamic swap to your account, you have to provide identity proof and upon verification, you will be given access to the swap-free account.

Demo Account

TMGM has also developed a demo account or a virtual account for all the traders who want to practice trading.

A handful of virtual currencies or dummy money has also been added to the demo account. These virtual currencies can be used by traders to practice trading as long as they want.

The beginner-level traders can get accustomed to the trading environment and also get to know more about the trading process and the market.

The traders can try out various trading strategies and also sharpen their trading skills.

TMGM Account Opening and Trading Process

The account opening process with TMGM is simple and easy.

All these accounts can be accessed from the trading platforms or the mobile trading application provided by the company.

So to open an account with the company you must follow the steps that have been mentioned below:

1. First of all, you must visit the official website and click the ‘Get Started’ tab on the homepage.
2. Now you would be directed to the live account application page where you have to fill up personal information like name, residential address, email address, phone number, additional information, and account configuration settings.
3. After filling up the details you can click on submit.
4. Now you will be asked to verify your identity. Here you have to upload a scanned identity card for the EKYC process.
5. After successful verification of your details and your ID card, your trading account will be.
6. The login ID and password would be sent to your email address.
7. Now you can log in to your trading account directly from the official website or the mobile trading application or via the trading platform.

Find Different Trading Account Types of Forex Brokers

TMGM Trading Account – Features

Some of the exclusive trading features provided by TMGM trading accounts are:

• Educational services like educational videos, documents, and various articles are provided so that the traders get to learn more about the trading process and the market.
• Social trading or copy trading features are available
• Trading signals and email alerts are available
• Guaranteed stop loss and guaranteed limited orders are available
• Trailing SP/TP is also available
• Automated reading, API trading, and VPS services are also available
• The company offers promotions and one-click trading services
• Expert advisor feature is also available so to help in automated trading

Check out Online Trading Services of FOREX Brokers

TMGM Trading Account – Conclusion

A good broker provides the best of trading services in many criteria that include trading instruments, deposits, and withdrawals and also includes customer support.

Now, as you have read the entire article you can easily decide for yourself if TMGM is a good broker for you or not.

In general, the company provides trading services in Gold, Silver, stocks, indices, and forex. Two types of trading accounts are provided with various features.

Customer support is also available via email, live chat, and telephone support.

TMGM Online Trading – FAQs

Here is the list of FAQs related to the TMGM trading account:

Does TMGM provide Online Trading?

TMGM is an online trading company that has clients from different parts of the club may be from the Australian and Asia-Pacific regions.

The broker allows all its clients to trade in various assets that include metals, CFD, Forex, and many others.

What are the Commission Charges in TMGM?

Whenever you are trading via any company you may have to pay some charges.

The commission charges vary depending upon the trading account and the instrument and asset that you are trading on.

For the Edge account, the commission charges are 3.5 dollars which are $7 per lot.

Does TMGM provide Demo account Trading?

TMGM has developed a demo account for all the traders who want to sharpen their trading skills.

With the help of this account, beginner-level traders can get accustomed to the trading process and understand the process of trading.

The demo account provides a risk screen environment for all the traders to practice trading as long as they want.

Is trading Free at TMGM?

Trading via TMGM is not fully free as the company might charge some commission charges and other charges.

The commission charge for the Edge account is $7 per lot and there are specific inactivity charges which are charged if your balance is less than $500 or the account is inactive for more than 6 months.

The inactivity charge is $30.

Does TMGM provide Spot Metals Trading?

The company allows its traders to trade in various assets including Forex, CFD, and spot metals.

For more details, you have to contact the authorities at TMGM.

Does TMGM provide Stock Trading?

The trading firm allows all its traders to trade in various assets that include metals, gas, CFD, cryptocurrency, and also stock.

You can trade in stocks with the help of trading accounts provided by the company.

What is Spread at TMGM?

The spread charges vary depending upon the trading account and the instruments that you are using.

For the edge account, the spread charges start from zero pips and for the classic account, the spread charge will start from one pip.

Is TMGM safe for trading?

TMGM is authorized and monitored by some of the top governing bodies that include the ASIC and VFSC.

The company also holds an Australian financial license, thus it segregates the company funds from the client funds to keep it safe.

Does TMGM provide Trading Tips?

Yes, the company provides steps along with other necessary things like educational services so that the traders get to know more about the market, the trading process and start making money.

Fill up the Form – Open Forex Trading Account Now!

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