I live in Thailand since 2016. I trade using the accounts of several Forex Brokers. I try to provide simple information based on my actual experience. For others, see [Profile].
TMGM

TMGM(TradeMax) | Forex Broker Review

TMGM(TradeMax) has been founded in 2013, it is a relatively new broker.

It has been developed under the brand TradeMax, but recently it has changed its name to the TMGM (TradeMax Global Markets) brand and has begun to expand worldwide.

Official Site

The operating company is TradeMax, which is based in Sydney, Australia.

Although it is a Forex trading broker founded in 2013, the number of accounts has increased significantly since around 2017. In particular, in 2018, they acquired about 44,000 new accounts annually, and after that, they made a new brand named “TMGM” (TradeMax Global Markets) and consolidated it.

Following Sydney, Melbourne and Adelaide, TradeMax has offices in the Philippines in 2018, Taiwan in 2019 and Singapore in 2020. In the future, it is said that it will be developed mainly in ASEAN.

Actually TradeMax is a new broker, but the information on website is not much.
Anyway, there are few. I made a lot of inquiry to support when I gather information.

There is no mention on the website, but there are actually bonus programs.

Promotion information will be sent to traders who have accounts on TMGM(TradeMax). Moreover, the programs are quite good. (You can get an iPhone and Mac Book!)

In addition, although only two types of accounts are displayed on the website, there are another four types, which can be changed on an application basis after opening an account or you can select another account type when you add an account. It’s a mysterious system…

These will be explained later.

This information can only be obtained by contacting support before opening an account.
In fact, when I inquired, they told me very politely…lol
In that sense, the quality of support may be good.

Let’s look at them in order.

Overview

CompanyTrademax Capital Pty Limited
Established2013
Regulated byASIC (Australia), VFSC (Vanuatu)
Max Leverage1:400
Spreads *STP/Avg.0.7-1.6pips/EURUSD、0.8-1.8pips/USDJPY
Commission *ECN$7/lot
ProductsForex:60, Index:19, Metal:3, Energy:2,
Commodity:5, Crypto:5
Account Types2 Types (Edge, Classic)
+ 4 Types (Standard, Premium, Pro, Raw Spread)
Bonuses2 Types (Deposit Bonus, Gift Program)
Negative Balance
Protection
Yes
Stop Out40%
Deposit & Withdrawal FeesFree
SupportPhone, E-Mail
PlatformMT4

TMGM(TradeMax) Reputation

On the world’s largest Forex broker’s information site WikiFX (about 20,000 registered trading brokers), TMGM has hit a high score of 7.99 as of September 2020.

HotForex, which is highly evaluated in the world, is 7.91.
It can be said that TMGM’s score is quite good.

tmgm-reputation

TMGM(TradeMax) Advantage and Disadvantage

  • Customer assets are completely protected in trust
  • 24/5 Support
  • Account manager will be assigned for each trader
  • Bonus programs (Not shown on website)
  • Narrow spread (Not shown on website)
  • Both of MT4 and MT5 is allowed
  • Crypto is available
  • High leverage up to 1:500
  • Negative balance protection system
  • Not much information on official website

Although it is not mentioned on the official website, there are bonus programs.
Deposit bonus and gift exchange promotion.

Also, regarding account types, only Classic (STP) and Edge (ECN) are listed on the website, but there are 4 more accounts that can be selected after you opened the first account.

More on these later.

Also, when you open an account, a dedicated account manager will be assigned for you.
You will receive the following email, and if you have any questions, the account manager will respond individually.
(My account manager is Jack.)

The account manager will take care of the account changes and bonus programs that will be explained later.

TMGM(TradeMax) is Recommended for Such Traders!

Recommended for Such Traders!
  • Want to use a broker that has a momentum
  • Have a enough capital
  • Need negative balance protection

\Just 3 minutes!!/
Open an Account

Is TMGM(TradeMax) a Reliable Broker? Or Scam?

I can say Tradeview is a fairly reliable broker.

Let’s see the reason.

TMGM(TradeMax) Licenses

TMGM has the following licenses.

  • ASIC (Australia)
  • VFSC (Vanuatu)

TMGM is a broker originally founded in Australia as TradeMax.

It is still headquartered in Australia, but it seems that it has obtained a license from the Vanuatu financial authorities as an offshore license for overseas expansion.

TMGM(TradeMax) Asset Conservation

Is there any measure to protect customer assets?

What happens to our assets (margin and profits deposited) if the forex broker goes bankrupt?

It should be decided that the forex broker who can guarantee customer assets as much as possible is more reliable.

It is the asset conservation system to evaluate it.

There are two main types of asset conservation systems.

  • Conservation Trust
  • Segregation of Funds

Conservation Trust is more reliable.

Conservation Trust means depositing all the customer assets to a third institution such as a bank. Forex brokers cannot withdraw funds without permission unless the customer instructs them to withdraw. Even if the forex broker goes bankrupt, the customer’s assets (balance at that time) are protected and guaranteed.

Segregation of Funds is to manage the operating costs of the forex broker and the assets under custody from the customer in separate accounts. Unlike Conservation Trust, the management is done by the forex broker itself, so even if the forex broker goes bankrupt, the customer’s assets are may not fully guaranteed.

How does TMGM manage customer assets?

TMGM protects customer assets by Conservation Trust scheme.

However, there is an upper limit.
The maximum amount is 30 million Australian dollars.

This means the total amount to be preserved, but the total customer assets were somewhat unknown and it was not possible to determine if it was a safe area.

It is a Conservation Trust and the reliability is quite high, but there is a guarantee upper limit.

If you are worried, you should operate with as little amount as possible or choose another broker.

As long as you don’t deposit such a large amount of money, you don’t have to worry, so in that sense, TMGM can be said to be a reliable company that you can use with confidence.

TMGM(TradeMax) Products

TMGM offers 94 products.

The number of products handled by TMGM is slightly higher than the average.

However, the number of stocks handled by currency pairs is a little larger than others, and cryptocurrencies can also be traded, so it can be said that TMGM is a very attractive broker.

  • Currency : 60
  • Index : 19
  • Energy : 2
  • Metal : 3
  • Commodity : 5
  • Crypto : 5
  • Total : 94

Please refer to another article for a detailed explanation of the products handled by TMGM and the terms and conditions of the transaction.

TMGM All Products and Trading Conditions | Forex and CFDsTMGM All Products and Trading Conditions for Beginners. Forex, Index, Energy, metal, Commodity, Stocks, Crypto, Bond, ETF....

Can Cryptocurrencies be Traded in TMGM(TradeMax)?

Can we trade cryptos in TMGM?

As you know already, we can trade cryptos in TMGM.

Recently, trading of cryptocurrencies such as Bitcoin, Ripple, Ethereum and Other Altcoin has become popular again.

It is very popular with short-term traders due to its large price fluctuations.

Bitcoin has also risen steadily, finally surpassing $ 20,000 in late 2020. There are also long-term traders.


TMGM offers 5 Cryptocurrencies.

It’s not so much rather than other brokers, but TMGM offers major cryptos, Bitcoin, Ethereum, Ripple, bitcoin cash and Litecoin.

Max leverage is 1:5, that’s not so high leverage like currency pairs, but it’s very convenient that you can trade also cryptos in one account.


In the separated article “Best Forex Broker for Crypto Trading“, I also explain not only TMGM but also another forex brokers that offer crypto trading.

This article also shows the conditions of trading of each brokers. Please take a look!

Best Forex Brokers for Crypto TradingIt has been more than 10 years since the birth of cryptocurrencies, but the value of cryptocurrencies will not increase tens to hundreds of times as it used to. On the other hand, cryptocurrencies are very attractive for short-term trading like Forex....

TMGM(TradeMax) Account Types

There are 6 types in total.
There is no information on the website, so I will explain it in detail.

First of all, in the Southeast Asian area including Thailand where I live, TMGM brand offers two types of accounts that can be selected when opening an account from the website.

Edge (ECN) and Classic (STP).

>>See account types on TMGM website

The first Choice is Edge Account or Classic Account

Edge is an ECN method account.
The transaction fee is $ 3.5 one way, which is not as good as Tradeview’s $ 2.5, but it’s a normal to cheap category.

Spreads on Edgh account start at 0.0 pips, but as long as I’m using it, around 0.0-0.1 pips. It is a level that can be ignored.
In addition, both of hedging and scalping are allowed, and EA is also available, so it seems to match not only day and swing traders but also various trading styles.

>>TMGM Edge Account

Classic is an STP method account.
The spread is said to be from 1.0 pips, but on major pairs such as EURUSD and USDJPY, it is about 1.6 to 1.8 pips. It’s about the same as XM, and it’s a little wider.

>>TMGM Classic Account

Later selectable Standard, Premium, Pro, Raw Spread accounts

Actually, the original TradeMax brand offers the following four account types, but the TMGM brand can also offer them.

In countries that have not transitioned to the TMGM brand, such as Australia where they originated, you can open these four types of accounts from the beginning, but in TMGM brand area such as Thailand where I live, once you open an Edge or Classic account, it can be changed to another account types with application basis or you can add another type of account.

Each account has its own characteristics, and in conclusion, if you want a STP method account and have enough capital, I recommend Premium or Pro.
The spread is very narrow.
However minimum deposit condition is bit hard.

If you want an ECN account, Edge and Raw Spread is not so different, so either one is fine.


The points of these four accounts are as follows.

  • An account manager will be assigned (same as Edge and Classic account)
  • VIP support and VPS are also available for Pro and Raw Spread
  • High minimum deposit requirements for Premium, Pro and Raw Spread
  • However, the spread between Premium and Pro is very narrow.

Standard, Premium and Pro are STP accounts and Raw Spread is ECN account.

Raw Spread has a VIP service, but the conditions are not much different from Edge accounts.
The fee is the same, $ 3.5 one way.

A deposit of $100,000 is required to use the VIP service. So, if you want an ECN account and you don’t really want to use the VIP service, you can use an Edge account.

The Standard account is not much different from the Classic account.
The spread is almost the same, so you can ignore it.

For Premium and Pro, the minimum deposit requirements are high at $ 50,000 and $ 100,000, but spreads are very narrow.

If you have enough capital to deposit, you might want to take the plunge and use a Premium or Pro account for long-term use.

In case you don’t want to have multiple accounts, you can ask TMGM to change your account to another account type.
After opening an account, support or the account manager will help it.

Regarding TMGM all account types, refer to the separate article, “TMGM All Account Types” that explain you the detailed specifications and conditions.

Also, regarding opening an account, please refer to the separate article “How to open TMGM account“, which explains the procedure for opening an account using images.

TMGM All Account Types | Which account is the best for you?TMGM offers eight account types. With comparing all account types, I will recommend the best account for you....
TMGM(TradeMax) | How to Open an AccountPerfect explanation of how to open an trading account. What is the steps? What kind of document is needed for PLE and POA? You can know all and open an account within 3 minutes!...

\Just 3 minutes!!/
Open an Account

TMGM(TradeMax) Allows up to 5 Multiple Accounts

You can open multiple accounts up to 5 in TMGM.

Creating an additional account enables more risk-reduced and efficient operation.

With additional accounts, you are free to choose not only the account type, but also the account currency, leverage, trading platform, etc., just as you would when you first created an account.

By changing the account type or the conditions such as leverage, you can separate the currency pairs and products to be traded for each account, trade with different leverage, separate the discretionary trading and EA (automatic trading) trading accounts, it will be easier to manage.

If you cannot decide account type for the first account, let’ select Standard account.

If you want to try another account type, you can add an account and select it.

Also you can easily transfer funds to additional accounts from the website.

Please also refer to the separate article “How to Open TMGM Additional Account“, such as how to open an additional account and how to operate using multiple accounts to reduce risk.

How to Open TMGM Additional Account | How to Reduce RisksYou can create up to 5 accounts in TMGM. By utilizing multiple accounts, you can trade with less risk. Opening an account is completed in 1 minute. I will explain not only the procedure for opening an account, but also the procedure for transferring funds....

\Just 1 minutes!!/
Open an Additional Account

TMGM(TradeMax) Bonus Programs

It’s not mentioned on the website, but it does exist.
I have no idea Why they don’t post it on the website….lol
In addition, the following information is official information as I have confirmed with support and obtained permission to disclose it just in case.

TMGM offers two types of promotions. Deposit bonus and gift exchange program.

This will be renewed quarterly and be announced for traders.
The following image is from the third quarter of 2020 (July-September).

There are some conditions for application.

  • Only for MT4 account
  • You can apply for both deposit bonus and gift exchange program, but in that case the deposit bonus will be applied after the gift exchange is completed (if only the deposit bonus is applied immediately)
  • Both are paid after reaching the specified transaction volume
  • The trading volume of gift exchange will be started counting from after application

Both applications are email-based. Please apply according to the guidance.

TMGM Deposit Bonus

10% deposit bonus will be given to the deposit amount.

Bonuses are given as credits and the bonus itself cannot be withdrawn, but profits can be withdrawn.

While deposit bonuses in other brokers are granted when you deposit, in TMGM only granted after you have cleared the prescribed transaction volume after depositing. Prior application is required for application.

TMGM(TradeMax) Gift Exchange Program

Various gifts are available for each deposit amount.
The image is part, there are others. It will be renewed on each period.

For some gift such as Airpod and iPhone, it is necessary to clear the specified transaction volume in addition to the deposit amount.

You can get supplements etc. by clearing only the deposit amount.

The transaction volume will be counted after you apply by email, so don’t forget to apply in advance.

TMGM(TradeMax) Deposit and Withdrawal Method

It depends on the country.
In Thailand where I live, I can use credit cards, bank transfers, USDT (Tether), PayTrust88, internet banking, NETELLER, STICPAY and Skrill.
PayTrust88 and FasaPay are remittance services used in Southeast Asia.

In my case, internet banking (transferring money from Thai bank via the internet) is the most convenient, so I use it.
If they expand into other countries, they will add convenient services to resident people. (For example Bitwallet)

tmgm deposit
tmgm wthdrawal

>>Check Fund Method on TMGM Official Website


Please refer to the separate article “TMGM Deposit Methods | Fees and Conditions” for details on how to deposit TMGM.

TMGM Deposit Methods | Fees and ConditionsHow to deposit into TMGM account?  Funding methods, fees and conditions....

TMGM(TradeMax) Support

TMGM offers 24/5 support.
This is a safe material in case of emergency.

Furthermore, as mentioned earlier, every trader can have an account manager.

It’s a very good response because TMGM business has been just started and they are focusing on increasing accounts.

I would like you to maintain this level even as the scale grows.

Currently, they only support English, Chinese, Vietnamese, and Spanish.

Try TMGM(TradeMax) Demo Account for Free

In order to know the trading environment and usability in TMGM, it is effective to open a demo account and do actual trading.

TMGM makes it easy to open a demo account.

For details on how to make use of TMGM demo account and how to open it, see the separated article “How to utilize TMGM demo account“.

If you have not decided to trade with TMGM yet, why not try trading with a demo account?

\Open for Free!/
Try Demo Account

How to Utilize TMGM(TradeMax) Free Demo AccountTMGM(TradeMax) allows to open demo accounts. Anyone can use it for free. By using the demo account, you can practice trading and check the actual trading conditions....

Summary

Since there is little information published on the website, I think that some traders may not have opened an account even if they know TMGM. However, from various account types, bonus programs, etc., I think that it is a company that is fully useful.

If they continue to increase the number of accounts at this momentum, I think they will expand to more countries soon.
Please check it out now.

\Just 3 minutes!!/
Open an Account

Official Site

TMGM(TradeMax) | How to Open an AccountPerfect explanation of how to open an trading account. What is the steps? What kind of document is needed for PLE and POA? You can know all and open an account within 3 minutes!...

ABOUT ME
KandA
KandA
I live in Thailand since 2016. I trade using the accounts of several Forex Brokers. I try to provide simple information based on my actual experience. For others, see [Profile].