TMGM Review 2024
Written by BrokerNotes.co
Fact-checked by Steven Hatzakis, Joey Shadeck
Edited by Jeff Anberg
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Our research indicates that TMGM is an average choice for forex and CFD traders. While it offers a robust range of tradeable symbols and strong regulatory oversight in Australia, some areas like educational resources could use improvement to compete with best-in-class brokers.
Overall Rating
Minimum Deposit
Trust Score
Pros and Cons
Pros
- Extensive tradeable symbols: With 12,000 symbols available (if its IRESS offering is included, which requires a $5,000 deposit), TMGM offers a diverse trading portfolio.
- Copy trading and signals: Features like copy trading and trading signals enhance trading options.
- MetaTrader 4 and 5 support: Access to the popular MetaTrader platform suite for effective trading.
Cons
- Education resources lacking: No advanced or beginner educational videos are available.
- Limited beginner support: Rated below average for education and beginners.
Ratings Summary
- Investment Types - 9.0/10
- Commissions & Fees - 7.5/10
- Trading platforms - 7.5/10
- Research - 6.5/10
- Mobile Apps - 7.5/10
- Education - 6.5/10
- Overall - 7.6/10
Can I trust TMGM?
TMGM can be considered trustworthy, with Tier-1 regulatory licenses from ASIC in Australia and FMA in New Zealand. It has a trust score of 83 and is categorized as "Trusted" by ForexBrokers.com.
TMGM is currently licensed and/or authorised by the following regulatory bodies:
- Tier-1 Regulators - Australian Securities & Investment Commission (ASIC) and the Financial Markets Authority (FMA)
- Tier-2 Regulators - None
- Tier-3 Regulators - None
- Tier-4 Regulators - Vanuatu Financial Services Commission (VFSC) and the Mauritius' Financial Services Commission (FSC)
Is TMGM good for beginners?
TMGM might not be the best choice for beginners due to its lack of beginner and advanced educational videos. Our research shows that it provides no specific educational resources for forex or CFDs other than a few articles, and its rating for education and beginners is below average.
| Feature |
TMGM
|
|---|---|
| Education (Forex or CFDs) | No |
| Client Webinars | No |
| Videos - Beginner Trading Videos | No |
| Videos - Advanced Trading Videos | No |
| Investor Dictionary (Glossary) | Yes |
TMGM commissions and fees summary
TMGM has a competitive fee structure with some notable points. It requires a minimum deposit and charges an inactivity fee. Although the average spread cost for the EUR/USD pair isn't specified, it generally offers a fair deal for traders. However, it does not provide active trader or VIP discounts, making it an average choice in terms of commissions and fees.
| Feature |
TMGM
|
|---|---|
| Minimum Deposit | $100 |
| Average Spread EUR/USD - Mini | N/A |
| Average Spread EUR/USD - Standard | N/A |
| All-in Cost EUR/USD - Active | N/A |
| Active Trader or VIP Discounts | No |
TMGM trading platforms and tools
Did you know? Trading platforms comparison
Of the 60+ brokers reviewed on BrokerNotes, 64% offer a proprietary platform, 100% offer a web platform, 91% offer a desktop platform, 11% offer cTrader, 14% offer ZuluTrade, 81% offer MetaTrader 4, and 64% offer MetaTrader 5.
TMGM provides a solid range of trading platforms and tools, making it a viable option for many investors. It supports MetaTrader 4 and recently MetaTrader 5 but offers no proprietary platforms, which might be a limitation for some traders. Overall, its platforms and tools are average in quality.
Trading platforms offered: MetaTrader 4 and MetaTrader 5
Trading tools: Offers copy trading and trading signals.
Copy trading: Available for those interested in mirroring other traders' strategies.
| Feature |
TMGM
|
|---|---|
| Virtual Trading (Demo) | Yes |
| Proprietary Platform | No |
| Desktop Platform (Windows) | Yes |
| Web Platform | Yes |
| MetaTrader 4 (MT4) | Yes |
| MetaTrader 5 (MT5) | Yes |
| DupliTrade | No |
TMGM trading platform screenshots
Mobile trading apps at TMGM
TMGM's mobile trading apps are of average quality, providing a reliable option for trading on the go. While they meet the basic needs, there's nothing particularly standout about them.
| Feature |
TMGM
|
|---|---|
| Android App | Yes |
| Apple iOS App | Yes |
| Mobile Economic Calendar | Yes |
| Mobile Alerts - Basic Fields | Yes |
| Mobile Charting - Draw Trendlines | Yes |
| Mobile Watchlist | Yes |
TMGM mobile app screenshots
How do I open an account with TMGM?
- Visit the TMGM website.
- Click on "Open an Account."
- Fill out the registration form with your details.
- Submit the required identification documents.
- Fund your account to start trading.
What can I trade at TMGM?
TMGM offers a broad range of trading options with 62 forex pairs and a total of 12,000 tradeable symbols. This is significantly above the industry average of 3,623 tradeable symbols, providing traders with extensive market opportunities. Note that a significant portion of these symbols requires access to the IRESS platform, which is not optimized for forex trading and requires a $5,000 deposit.
| Feature |
TMGM
|
|---|---|
| Tradeable Symbols (Total) | 12000 |
| Forex Pairs (Total) | 62 |
| Social Trading / Copy Trading | Yes |
| Cryptocurrency (Physical) | No |
| Cryptocurrency (Derivative) | Yes |
| Spread Betting | No |
TMGM research screenshots
Account funding at TMGM
TMGM supports various funding methods, including bank wires, Neteller, PayPal, credit cards, and Skrill.
| Feature |
TMGM
|
|---|---|
| Visa/Mastercard (Credit/Debit) | Yes |
| Bank Wire (Deposit/Withdraw) | Yes |
| PayPal (Deposit/Withdraw) | Yes |
| Skrill (Deposit/Withdraw) | Yes |
| Neteller (Deposit/Withdraw) | Yes |
About TMGM
TMGM was founded in 2013 and has established itself as a notable player in the forex and CFD trading industry. Although not publicly traded, it is regulated by ASIC in Australia and FMA in New Zealand, providing a level of trust and security for its clients especially for those located in Australasia.
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Methodology
At BrokerNotes.co, our data-driven online broker reviews are based on our extensive testing of brokers, platforms, products, technologies, and third-party trading tools. Our product testing extends to the quality and availability of educational content, market research resources, and the accessibility and capabilities of mobile platforms and trading apps. We also dive into each broker’s trading costs, such as VIP rebates, inactivity fees, custody fees, bid/ask spreads, and other fee-based data points.
Steven Hatzakis, an industry veteran with decades of experience in the forex market, leads the BrokerNotes research team. All BrokerNotes content is researched, fact-checked, and edited by the research team.
All websites and web-based platforms are tested using the latest version of the Google Chrome browser. Our Desktop PCs run Windows 11, and we use MacBook Pro laptops running the latest version of macOS to test trading on the go. We test mobile apps and products using iPhones running iOS 17 and Samsung devices running Android OS 14.
Note: The online brokers on our site provide the ability to trade forex in one or more ways, such as non-deliverable spot forex (i.e., rolling spot contracts), contracts for difference (CFD), or other derivatives such as futures. The availability of specific markets or features will depend on your country of residence and the broker's applicable brand or entity that services your account(s).
Forex Risk Disclaimer
There is a very high degree of risk involved in trading securities. With respect to margin-based foreign exchange trading, off-exchange derivatives, and cryptocurrencies, there is considerable exposure to risk, including but not limited to, leverage, creditworthiness, limited regulatory protection and market volatility that may substantially affect the price, or liquidity of a currency or related instrument. It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses. Learn more about foreign exchange risk.
About the Editorial Team
BrokerNotes.co provides unbiased forex broker reviews and ratings to help traders and investors find the best broker for their needs. All content is researched, fact-checked, and edited by our research team and all ratings and rankings are based on the team’s in-depth product testing.
Steven Hatzakis is the Global Director of Online Broker Research for BrokerNotes.co and ForexBrokers.com. Steven previously served as an Editor for Finance Magnates, where he authored over 1,000 published articles about the online finance industry. A forex industry expert and an active fintech and crypto researcher, Steven advises blockchain companies at the board level and holds a Series III license in the U.S. as a Commodity Trading Advisor (CTA).
Joey Shadeck is the Content Strategist and Research Analyst for BrokerNotes.co and ForexBrokers.com. He holds dual degrees in Finance and Marketing from Oakland University, and has been an active trader and investor for close to ten years. An industry veteran, Joey obtains and verifies data, conducts research, and analyzes and validates our content.
Jeff Anberg is a Staff Editor at BrokerNotes.co and ForexBrokers.com. Along with years of experience in media distribution at a global newsroom, Jeff has a versatile knowledge base encompassing the technology and financial markets. He is a long-time active investor and engages in research on emerging markets like cryptocurrency. Jeff holds a Bachelor’s Degree in English Literature with a minor in Philosophy from San Francisco State University.