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GSI Markets , TMGM Broker Comparison

Do you want to know which is the better broker between GSI Markets and TMGM ?

In the table below, you can compare the features of GSI Markets , TMGM side by side to determine the best fit for your needs.

  • Rating
  • Basic Information
  • Benchmark
  • Account Information
  • Relevant information
  • Relevant exposure
  • Rating
  • Basic Information
  • Benchmark
  • Account Information
  • Relevant information
  • Relevant exposure
 2 / 3   brokers in total
Rating
Score
Regulatory Status
WikiFX Guarantee
WikiFX Survey
Risk Evaluation
Exposure
Basic Information
Established
Regulatory license
MT4
MT5
Crypto
Deposit and withdrawal method
Benchmark
environment rating
Transaction Speed
Transaction speed rating
Average transaction speed
The highest transaction speed
The highest speed of opening positions
The highest speed of closing position
Slowest transaction speed
The lowest speed of opening positions
The lowest speed of closing position
Trading slippage
Transaction slippage rating
Average slippage
Maximum transaction slippage
Maximum positive slippage
Maximum negative slippage
Transaction Cost
Transaction cost rating
  • Average transaction cost
  • (EURUSD)
  • Average transaction cost
  • (XAUUSD)
Rollover Cost
Rollover cost rating
  • Average transaction cost
  • (EURUSD)
  • Average transaction cost
  • (XAUUSD)
Disconnection results
Software disconnection rating
Average disconnection frequency (times/day)
Reconnection time
Account Information
Accounts
Account name
Products
Deposit REQ
Maximum Leverage
Spread of majors
Forced Liquidation Ratio
Spread Types
Minimum Position
Crypto
Lock postition
Scalping
EA trading
GSI Markets
1.53
No Regulation
Under guarantee
--
5-10 years
--
--
--
--
--
--
--
--
--
--
--
--
--
--
--
--
--
--
--
--
--
--
--
--
--
ISLAMIC ACCOUNT,PLATINUM ECN ACCOUNT,GOLD ECN ACCOUNT,SILVER ECN ACCOUNT
--
--
--
--
0.00
--
--
--
TMGM
7.77
Regulated
Under guarantee
10-15 years
ASIC,FMA,VFSC
--
AA
A
435
7
7
7
1999
1999
1984
A
--
25
-6
28
AA
11.91 USD/Lot
24.9 USD/Lot
AA

Long: -6.15

Short: 2.22

Long: -32.04

Short: 19.73

AAA
0.3
171.2
Edge ,Classic
FX: 56 Bullion: 3 Oil: 2 CFD: 20 Crypto: 12 Shares: 48
$100
1:500
From 0
0.00
--
0.01
--

TMGM BrokersRelevant information

GSI Markets 、 TMGM BrokersRelevant exposure

Which broker is more reliable?

You can determine the reliability and credibility of a broker by checking four factors:

1.Forex broker introduction。

2.Are the transaction costs and expenses of gsi-markets, tmgm lower?

3.Which broker is safer?

4.Which broker provides better trading platform?

Based on these four factors, we can compare which is reliable. We have broken down the reasons as follows:

Forex broker introduction

gsi-markets
GSI Markets Review Summary
Founded 2013
Registered Country/Region Marshall Islands
Regulation No Regulation
Market Instruments Stocks, Cryptocurrencies, Indices, Forex, and Commodities
Demo Account Available
Leverage Up to 1:100
Trading Platforms MetaTrader 4
Minimum Deposit $250
Margin Requirements Range from 0.20% to 5%
Trading Tools Indicators, Economic Calendar, Technical Signals, Calculators, and BTC Signals
Customer Support Tel: +(44) 203 150 1767, +(55) 213 50 01808, +(56) 229 381 559, +(57) 601 5141319, +(502) 237 84653, +(52) 558 421 0153, +(507) 833 7744
Email: info@gsimarkets.com
Facebook, Twitter, Youtube, Google+, and Telegram
Live Chat

What is GSI Markets?

GSI Markets is a Forex trading broker operated by Media Force Limited, founded in 2013 and registered in the Marshall Islands. It claims to specialize in online Forex trading, converting on a leading FX and CFD broker for clients in more than 120 countries worldwide. Providing services through MetaTrader 4, It offers a demo account. The maximum leverage available is 1:100, and the minimum deposit required is $250, with margin requirements ranging from 0.20% to 5%. Notably, GSI Markets operates without any regulations.

GSI Markets' homepage

Pros & Cons

Pros Cons
  • Diverse Market Instruments
  • No Regulation
  • Demo Account Availability
  • Exposure Labeled as Unable to Withdraw
  • Multiple Contact Channels

Pros:

Diverse Market Instruments: GSI Markets offers a wide range of market instruments, including stocks, cryptocurrencies, indices, forex, and commodities, providing traders with various options for diversification.

Demo Account Availability: Traders can access a demo account, allowing them to practice trading strategies and familiarize themselves with the platform without risking real money.

Multiple Contact Channels: The broker provides multiple contact channels, including seven telephone numbers, email, and other social platforms, making it easier for traders to reach customer support when needed.

Cons:

No Regulation: GSI Markets operates without any regulatory oversight, which is a huge red flag for the safety of funds and the reliability of the broker.

Exposure Labeled as Unable to Withdraw: There are five pieces of exposure labeled as unable to withdraw, which indicates a risk that traders face issues with withdrawing their funds.

Is GIS Markets Safe or Scam?

The most glaring red flag is the complete lack of regulation. This raises significant concerns about the safety of your funds, the fairness of their trading practices, and the potential for scams or manipulative activities.

No license

Furthermore, the existence of exposures labeled as “unable to withdraw” is incredibly alarming. This suggests that some users have encountered difficulties withdrawing their funds, raising the possibility of encountering similar issues yourself.

User Exposure on WikiFX

Market Instruments

GSI Markets offers a wide array of market instruments for traders to engage with, catering to the varying trading preferences and strategies of its clients.

Market Instruments

Stocks: You can access shares of publicly traded companies, enabling them to invest in the performance of individual companies.

Cryptocurrencies: The platform offers trading in digital currencies like Bitcoin, Ethereum, and others, allowing traders to participate in the dynamic and evolving cryptocurrency market.

Indices: GSI Markets provides access to major stock market indices, offering exposure to broader market performance.

Forex: The broker facilitates trading in the foreign exchange market, allowing traders to trade currency pairs and take advantage of fluctuations in exchange rates.

Commodities: You can also trade in commodities such as precious metals, energy, and agricultural products, providing diversification opportunities beyond traditional asset classes.

Account Types

GSI Markets offers traders three different live account types: Silver ECN, Gold ECN, and Platinum ECN accounts.

Account Type Silver ECN Account Gold ECN Account Platinum ECN Account
Minimum Deposit $250 - -
First Deposit Bonus No 10% up to 1,000 USD 15% up to 2,000 USD
Withdrawal Time 7 days 3 days 3 days
Requirements to Acquire Trade 300 aggregated lots or reach total deposits of $1,000 to $10,000 Trade 2,000 aggregated lots or reach total account equity of $10,000 to $75,000 Trade 10,000 aggregated lots or reach total deposits of $75,000 and above
Requirements to Maintain Trade 150 lots quarterly Trade 600 lots quarterly -

The Silver ECN account requires a minimum deposit of 250 USD and has a withdrawal time of 7 days. To acquire a Silver Account, traders must either trade 300 aggregated lots or reach total deposits of $1,000 to $10,000. To maintain the Silver Account, traders must continue to trade 150 lots quarterly.

The Gold ECN account offers a first deposit bonus of 10% up to 1,000 USD and has a withdrawal time of 3 days. To acquire a Gold Account, traders must either trade 2,000 aggregated lots or reach total account equity of $10,000 to $75,000. Gold account holders must trade a minimum of 600 lots quarterly to keep the account in good standing.

The Platinum ECN account provides a first deposit bonus of 15% up to 2,000 USD and has a withdrawal time of 3 days. To acquire a Platinum Account, traders must either trade 10,000 aggregated lots or reach total deposits of $75,000 and above. The Platinum Account is targeted at traders with higher trading volumes and account sizes.

Account Types

How to Open a GSI Markets Account?

Step 1: Open an account by going to the broker's website: https://www.gsimarkets.com/.

visit the broker's website

Step 2: All you have to do is fill in the information in the box that says QUICK START. Once this is done, click on OPEN A REAL ACCOUNT which will take you to a page that says REGISTER ACCOUNT.

fill in required info

Step 3: Fill in your details, create a password, check the terms and conditions box and all other related boxes then click on CREATE MY ACCOUNT.

Step 4: You are now on your home page and can make a deposit online using your credit card. All you need to do is complete the DEPOSIT INFORMATION and click on the DEPOSIT NOW button.

Leverage

GSI Markets offers leverage of up to 1:100 for you. Leverage allows you to control a larger position size with a relatively small amount of capital. For example, with a 1:100 leverage, you can control a position of $10,000 with a deposit of only $100. While leverage can amplify profits, it also increases the risk of losses, as losses are also magnified in proportion to the leverage used.

Spreads & Commissions

GSI Markets distinguishes itself by offering trading with zero commissions. This means that you will not incur additional charges for each trade placed through the platform. However, while there are no commissions, you should consider the impact of spreads on the trading costs, which is not present on the official website.

Commissions

Trading Platforms

GSI Markets offers the MetaTrader 4 (MT4) trading platform, which is widely regarded as one of the best in the industry. MT4 is known for its user-friendly interface, advanced charting tools, and customizable features. It also offers automated trading capabilities through Expert Advisors (EAs) and a wide range of technical indicators.

Additionally, the GSI Markets mobile app provides traders with access to the mobile version of MT4. While the mobile version may lack some of the features found in the desktop version, it offers several benefits, including increased flexibility and the ability to trade on the go. The mobile app is available for both Android and iOS systems, allowing traders to access their accounts and trade from their smartphones or tablets.

Trading Tools

GSI Markets provides traders with a comprehensive set of trading signals and tools designed to enhance their trading experience and improve decision-making.

  • Indicators

Impulse MACD: This indicator combines three moving averages to visually represent market momentum on a chart. It helps traders identify potential buy or sell signals based on the convergence or divergence of these moving averages.

SHI Channel True: This indicator displays dynamic moving channels on a chart. It identifies fractal points in price history, connects them with lines, and draws parallel lines to create channels. You can use these channels to identify potential support and resistance levels.

Stretch Breakout Channel: This indicator helps you identify breakout opportunities by plotting channels based on recent price action. Breakouts above or below these channels may signal potential trading opportunities.

Variation Index: This indicator measures the variation in price movements over a specified period. It helps you gauge the volatility of an asset and can be used to identify potential trend changes.

ZeroLag MACD: This indicator is a modified version of the MACD (Moving Average Convergence Divergence) indicator that aims to reduce lag and provide more timely signals. It can help you identify trend reversals and momentum shifts.

Indicators

  • Economic Calendar

This tool provides you with a schedule of important economic events and announcements that may impact financial markets. It includes key indicators such as GDP releases, interest rate decisions, and employment reports, helping you make informed trading decisions based on fundamental analysis.

Economic Calendar
  • Technical Signals

These signals are generated by technical analysis tools and indicators, such as those mentioned above. They provide insights into potential buy or sell opportunities based on price movements, trends, and other technical factors.

Technical Signals

  • Calculators

Profit Calculator: This tool helps you calculate potential profits or losses based on their trading position size, entry price, and exit price.

Margin and Pip Calculator: These calculators help you determine the margin required for a trade and calculate the value of a pip, which is the smallest price movement in a currency pair.

Calculators
  • BTC Signals

These signals are specific to Bitcoin (BTC) trading and provide insights into potential buy or sell opportunities in the Bitcoin market. You can use these signals to make informed decisions when trading Bitcoin.

BTC Signals

Deposits & Withdrawals

To deposit money into your GSI Markets trading account, you can log in to your account using the email and password you provided during registration. Once logged in, navigate to the Members Area and click on the “Deposit” tab. From the dropdown menu, select your preferred deposit method, which can include Credit Cards, e-Wallets, or Wire Transfers. Follow the on-screen instructions to complete the deposit process.

Withdrawing money from your GSI Markets account is also straightforward. Log in to your account and navigate to the Members Area. Click on the “Withdraw” tab to access the withdrawal section. Fill out the withdrawal form with the required information, ensuring that all your verification documentation is in order. Withdrawals will be returned to the credit cards from which the charge was made, and profits above the invested amount will be transferred to your personal bank account. Wire transfers will take up to 7 business days due to intermediary financial processors.

Customer Service

The broker provides multiple contact options, including telephone support with dedicated numbers for various regions.

  • +(44) 203 150 1767 (United Kingdom)

  • +(55) 213 50 01808 (Brazil)

  • +(56) 229 381 559 (Chile)

  • +(57) 601 5141319 (Colombia)

  • +(502) 237 84653 (Guatemala)

  • +(52) 558 421 0153 (Mexico)

  • +(507) 833 7744 (Panama)

In addition to telephone support, traders can also contact the customer support team via email at info@gsimarkets.com.

For traders who prefer real-time assistance, GSI Markets offers a live chat feature on their website.

GSI Markets also maintains an active presence on social media platforms such as Facebook, Twitter, YouTube, Google+, and Telegram. These platforms serve as additional channels for traders to interact with the customer support team, stay updated on news and announcements from the broker, and engage with other traders in the community.

Conclusion

GSI Markets provides a range of trading instruments and account options, but there are significant issues that impact your trading experience. The lack of regulatory oversight and reports of exposure labeled as “unable to withdraw” are both red flags that jeopardize your financial security. We advise against using GSI Markets and it is better to choose a broker with a clear track record and regulation from a reputable financial authority.

Frequently Asked Questions (FAQs)

Q: Is GSI Markets regulated?

A: No.

Q: What trading platforms does GSI Markets offer?

A: GSI Markets offers MetaTrader 4, including a desktop version, a web-based version, and a mobile trading app.

Q: What is the minimum deposit required to open an account with GSI Markets?

A: $250.

Q: Does GSI Markets offer a demo account?

A: Yes.

Q: What is the maximum leverage offered by GSI Markets?

A: 1:100.

Q: What are the available methods for deposit and withdrawal?

A: GSI Markets offers various methods for deposit and withdrawal, including Credit Cards, e-Wallets, and Wire Transfers.

Risk Warning

Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies.

In addition, the date on which this review was generated may also be an important factor to consider, as information may have changed since then. Therefore, readers are advised to always verify updated information directly with the company before making any decision or taking any action. Responsibility for the use of the information provided in this review rests solely with the reader.

tmgm

Let's Start Here:

TMGM appears to a respected forex broker, presenting access to more than 12,000 spanning forex, CFDs, and cryptocurrencies. Traders can enjoy competitive spreads across various instruments, exemplified by the EUR/USD currency pair with an average spread of around 0.1 pips. Moreover, TMGM extends a diverse set of trading platforms, notably including MetaTrader 4 and IRESS. Besides, TMGM enriches the trading journey with rich educational resources and trading tools. Lastly, 24/7 multilingual customer support stands ready. However, the question remains: Does TMGM truly live up to its claims? Let's explore more.

TMGM Review Summary in 10 Points
Founded 2013
Headquarters Sydney, Australia
Regulation ASIC, FMA, VFSC (Offshore)
Market Instruments forex, indices, shares, futures, precious metals, energies and cryptocurrencies
Demo Account Available
Leverage 1:500
EUR/USD Spread 1.0 pips
Trading Platforms MT4, MT5 (coming soon), IRESS
Minimum deposit $100
Customer Support Live chat, phone, email

What is TMGM?

Founded in 2013 and headquartered in Sydney, Australia, TMGM is an online ECN/STP broker. Notably, in 2016, TMGM introduced its MetaTrader 5 platform. Subsequently, the company achieved FCA membership in the UK during 2017. The year 2019 witnessed the launch of TMGM's mobile trading app, further enhancing accessibility. By 2021, TMGM's reach expanded to encompass over 200 countries worldwide.

Offering a diverse array of more than 12,000 trading instruments spanning forex, commodities, cryptocurrencies, and stocks, TMGM caters to traders through popular platforms including MetaTrader 4 (MT4) and Iress.

TMGM's homepage

Pros & Cons

TMGM has some strong points: solid regulation, competitive costs, lots of assets, and top-notch support. But there are a couple of downsides, like inactivity fees and no MT5 yet.

Pros Cons
• ASIC and FMA regulation • No US clients accepted
• Competitive spreads and low commissions • Inactivity fees applied
• Over 12000 trading instruments • MT5 not provided yet
• Both MT4 and IRESS platforms offered
• 24/7 multilingual cutsomer support
• Multiple account types with flexible options
• Rich educational resources
• High leverage up to 1:500

Is TMGM Legit?

TMGM, a regulated broker, holds authorization from the tier-one regulator ASIC and is also licensed by the New Zealand Financial Markets Authority (FMA). Additionally, TMGM's international operations are overseen by the VFSC in Vanuatu offshore. Now, let's quickly delve into TMGM's regulations and licenses, which will shed light on how the broker ensures compliance with industry standards and protects clients.

Regulated Country Regulated Authority Regulated Entity License Type License Number
ASIC TRADEMAX AUSTRALIA LIMITED Market Making(MM) 436416
FMA TRADEMAX GLOBAL MARKETS (NZ) LIMITED Market Making(MM) 569807
VFSC Trademax Global Limited Retail Forex License 40356

Under the oversight of ASIC, a prominent tier-1 regulatory authority, TMGM's Australian branch known as TRADEMAX AUSTRALIA LIMITED operates with regulatory number 436416. This entity is licensed for Market Making (MM). As per the stringent rules set by ASIC, which is globally recognized, brokers must ensure the safety of clients' funds.

regulated by ASIC

Since TMGM claims to obtain the ASIC license, an investigation team from WikiFX visited the company's registered address in Australia. This visit, conducted in person, revealed that the company is operating smoothly and on a large scale. This direct observation by the investigator enhances our confidence in TMGM's legitimacy and highlights its strong and credible operations under ASIC's regulation.

WikiFX survey
WikiFX survey

TMGM's another entity, the entity in New Zealand known as TRADEMAX GLOBAL MARKETS (NZ) LIMITED, similarly, holds a Maket Making (MM) lincense from the authorization of FMA.

regulated by FMA

Lastly, TMGM's international branch, Trademax Global Limited, operates under the regulation and authorization of VFSC offshore, holding a license for retail forex activities.

offshore regulated by VFSC

Market Instruments

TMGM goes above and beyond by offering an impressive collection of 12,000+ trading instruments, setting it apart as a broker with an exceptional range of options, covering 60 currency pairs, indices, and stocks sourced from major global exchanges. Moreover, TMGM extends its offerings to include futures, as well as sought-after precious metals like gold and silver. Adding to the mix are energies such as oil and natural gas, not to mention a selection of 10 cryptocurrencies like Bitcoin, Ethereum, and Litecoin.

Trading Assets Available
Forex
label
Shares
label
Energies
label
Indices
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Precious Metals
label
Cryptocurrencies
label
Futures
label
Indices CFD Dividend
label
Shares CFD Dividend
label
ETFS
label
Stocks
label
Options
label
Market Instruments

Account Types

TMGM tailors its account types to match the chosen trading platform. If you're using the MetaTrader 4 platform, they provide EDGE and CLASSIC accounts. Opting for the IRESS trading platform brings you a choice of STANDARD, PREMIUM, and GOLD accounts. Plus, for those who prefer Swap Free accounts or want to practice with demo accounts, TMGM offers those options as well.

MT4 Accounts: EDGE and CLASSIC

Both accounts require a minimum deposit of $100, quite reasonable for most regular traders to get started.

Classic Edge
Min Deposit $100 $100
Min Lot Size 0.01 Lot 0.01 Lot
Max Leverage 1:500 1:500
Funding Free Free
Execution Type ECN ECN
EA Available
label
label
Islamic Account
label
label
Hedging Allowed
label
label

IRESS Accounts: STANDARD, PREMIUM and GOLD

The minimum deposit requirement is $5,000 for STANDARD Account, $10,000 for PREMIUM Account, and $50,000 for GOLD Account. When it comes to fees, the Standard account entails a platform fee of $35 USD or $45 AUD per month. The Premium and Gold account holders, on the other hand, enjoy fee-free access to the platform. Additionally, all account types are subject to a data fee for each exchange they use.

Standard Premium Gold
Minimum Deposit $5,000 USD $10,000 USD $50,000 USD
Platform Fee $35 USD or $45 AUD / per month No Fee No Fee
Data Fee For Every Exchange For Every Exchange For Every Exchange
Min. Commission $ 10 N/A N/A
Commission Rate (cps) 2.25 7 1.8
Minimum(Trade Size) 333Shares N/A N/A
Financing Libor+3.5%/-3.5% Libor +3%/-3% Libor +2.5%/-2.5%
Demo Account
label
label
label

Swap-Free Account

TMGM also provides a Swap Free account for those who are unable to pay or receive interest owing to their religious convictions. To open a Swap-Free account, you'll need to have an Edge account, which requires a minimum of $100 and a minimum lot size of 0.01.

Demo Account

Demo trading accounts are available through TMGM for anyone interested in testing the waters before opening a real account. These accounts allow you to test out the broker's services before committing any real money. In addition, it provides a means of learning as much as possible about TMGM before you commit to an investment account.

The MetaTrader4 trading platform (which we'll come to in a moment) is available to demo accounts for an entire year. However, in the event of inactivity for six months, your access will be terminated. A $5,000, $10,000, or $50,000 virtual currency balance is available to you.

Leverage

TMGM offers quite a high trading leverage up to 1:500 on all account types. Forex products trading can use leverage of up to 1:500, indices and energy with leverage of 1:100, and precious metals featuring 400x leverage.

Here's a table comparing leverage provided by major industry players. Notably, TMGM offers relatively higher leverage, though it appears somewhat more cautious compared to the other three competitors. However, users should remember that high leverage is a two-edged tool with potential risks.

Broker Exness FXTM IC Markets TMGM
Leverage Up to 1:Unlimited Up to 1:2000 Up to 1:500 Up to 1:500

Spreads & Commissions

TMGM offers competitive spreads and commissions on their trading instruments. The exact spreads and commissions vary depending on the account type and trading platform used. The spreads on CLASSIC accounts start at 1.0 pips, with no commission charged, while the spreads on EDGE accounts start at 0.0 pips, and a commission of $7 (round turn) is charged per lot.

Generally, TMGM offers tight spreads on major forex pairs such as EUR/USD, with spreads as low as 0.0 pips. Commissions may be charged on some trading instruments, such as shares and futures. However, these commissions are generally competitive compared to other brokers in the industry.

Below is a comparison table about spreads and commissions charged by different brokers:

Broker EUR/USD Spread Commission
TMGM 0.0 pips $7 per round turn
Pepperstone 0.09 pips $3.5 per lot
eToro 1.0 pips $0
IG 0.6 pips $0
Plus500 0.8 pips $0
XM 0.9 pips $0

Note that commission rates may vary based on account type and trading volume, and spread rates may also vary depending on market conditions.

Trading Platforms

TMGM offers two popular trading platforms for their clients: MetaTrader4 (MT4) and IRESS.

Available Devices PC, Mac, Mobile ( OS and Android)
Language English
Scalping
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Hedging
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Automated Trading
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One-click Execution
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Web-based Trading
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Mobile Trading
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MT5
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IRESS
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cTrader
label
Proprietary Platform
label

MT4 is a popular and widely used platform that provides advanced charting tools, technical analysis indicators, and customizable trading robots. It also supports a variety of order types and execution modes, allowing for flexible and efficient trading.

MT4

IRESS, on the other hand, is a more sophisticated and feature-rich platform that is designed for more experienced traders. It offers advanced order management, risk management, and portfolio analysis tools, as well as advanced charting and technical analysis capabilities.

Both platforms are available on desktop, mobile, and web versions, providing traders with the flexibility to trade on their preferred device.

iRESS

Additionally, MetaTrader5 is not provided yet, and according to the announcement of TMGM's website, this popular trading platform is coming soon.

Trading Tools

TMGM provides its traders with various trading tools to enhance their trading experience. These tools include:

  • Trading Calendar: A calendar that shows the dates and times of upcoming economic events, including central bank meetings, interest rate decisions, and other important announcements.

  • Market Sentiment Tool: A tool that allows traders to gauge market sentiment by analyzing the number of long and short positions held by other traders.

  • ForexVPS: A virtual private server that allows traders to run their trading strategies 24/7 without the need for a personal computer.

  • Trading Central: A research platform that provides traders with market analysis, trading ideas, and technical analysis tools to help them make informed trading decisions.

  • Traders Terminology: Type the keyword or term that you are looking for or select the letters to see the list of words.

  • Max-Calculator : The Max-Calculator is one of the best ways to help traders quickly evaluate the possible outcome of potential transactions or actions. In addition, this calculator will also help you calculate the margin easily.

Educational Contents Available
HUBx
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Trading Calendar
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Market Sentiment Tool
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ForexVPS
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Trading Central
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Traders Terminology
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Max-Calculator
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Deposits & Withdrawals

TMGM minimum deposit vs other brokers

TMGM Most other
Minimum Deposit $100 $100

The minimum deposit and withdrawal amount is both $100. Depositing doesn't cost anything, but the time it takes and the currency options depend on your chosen payment method. Be aware, though, that some deposit methods like Union Pay, FasaPay, Visa, and MasterCard can't be used for withdrawals.

Payment Options Currencies Min.Deposit Min.Withdrawal Fees Processing Time ( Deposit) Processing Time ( Withdrawal)
NZD, USD, AUD, EUR, CAD $100 $100 $0 1-3 Working Day 1 Working Day
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USD $100 $100 $0 Instant 1 Working Day
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NZD $100 N/A $0 1 Working Day N/A
label
USD $100 $100 $0 Instant 1 Working Day
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USD, EUR, GBP, AUD, NZD, CAD $100 $100 $0 1 Working Day 1 Working Day
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USD, EUR, GBP, AUD, NZD, CAD $100 $100 $0 1 Working Day 1 Working Day
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CNY $100 N/A $0 Instant N/A
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CNY $100 $100 $0 Instant 1 Working Day
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USD $100 N/A $0 Instant N/A
label
USD, EUR, GBP, AUD, NZD, CAD $100 N/A $0 3 Working Days N/A
label
MYR, THB, IDR, VND $100 $100 $0 Instant N/A
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USD, EUR, GBP, AUD, NZD, CAD $100 N/A $0 Instant N/A
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USD, EUR, GBP, AUD, NZD, CAD $100 N/A $0 Instant N/A

Other Fees

TMGM charges various fees, including spreads and commissions that we have mentioned before, as well as overnight financing fees. The specific fees vary depending on the type of account and trading platform used. TMGM does not charge any deposit or withdrawal fees, but clients may incur fees from their payment providers.

Additionally, TMGM charges an inactivity fee of $10 per month if there is no activity in the trading account for a period of six months or more. This fee will be deducted from the available balance of the account. However, if the available balance is less than $10, no inactivity fee will be charged. It is important to note that the inactivity fee is a common practice in the industry and is designed to encourage active trading and to offset the costs of maintaining inactive accounts.

See the fee comparison table below:

Broker Deposit Fee Withdrawal Fee Inactivity Fee
TMGM Free Free $10/month after 6 months of inactivity
Pepperstone Free Free for Australian Bank Transfer, $20 for International Transfer $0 after 12 months of inactivity
eToro Free $5 $10/month after 12 months of inactivity
IG Free $1 for AUD, CAD, and USD, £1 for GBP, €1 for EUR $18/month after 24 months of inactivity
Plus500 Free $1.5-$10 depending on withdrawal method $10/month after 3 months of inactivity
XM Free Free $5/month after 90 days of inactivity

Customer Support

TMGM offers customer support through multiple channels including live chat, phone, email, and social media (YouTube, Twitter, Facebook, Instagram and LinkedIn).

Contact Channels Details
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+612 8036 8388
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support@tmgm.com
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24/7
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Sydney office, Melbourne Office, Adelaide Office, Canberra Office, Auckland Office
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https://www.facebook.com/TMGMgroup
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https://twitter.com/TMGMgroup
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https://www.youtube.com/tmgmgroup
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https://www.instagram.com/tmgmgroup/
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https://www.linkedin.com/company/tmgmgroup
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https://api.whatsapp.com/send/?phone=61452597488&text&app_absent=0

You'll find an extensive and user-friendly FAQ section right on their website, covering a wide range of topics, from account setup to trading strategies, making it an invaluable tool for traders of all levels.

Pros Cons
• Multiple languages supported • No dedicated account manager or personal service
• Quick response times to inquiries • Limited availability on weekends and holidays
• Personalized service with tailored solutions

Educational Resources

TMGM's special feature is TMGM Academy, and it's available in addition to the usual customer service. You may get a thorough education in foreign exchange trading by enrolling in the TMGM Academy. There are three levels to choose from Basic, Intermediate, and Expert.

The beginner stage prepares you for your journey into forex trading. The Beginner Stage develops a strong foundation based on understanding margin trading, how to read various types of charts, plus an introduction to trading instruments, oscillators, indicators, and support plus resistance.

TMGM Academies Intermediate Stage starts focusing on more technical aspects of forex trading. This includes considering indicators like MACD, RSI, ATRs, Moving Averages, and more. Additionally, TMGM introduces Fibonacci and Fundamental analysis, plus effective ways to employ them in trading.

The Advanced Stage in the TMGM Academy is where traders get deep into various trading strategies and how to apply them. This stage includes learning about advanced forms of Fibonacci extensions and retracements, RSI, correlation, and trade management.

Conclusion

To sum it up, TMGM stands out as a respected and regulated broker. They offer a diverse set of trading options and platforms, including the sought-after MetaTrader4 and IRESS. Plus, they shine when it comes to customer service and educational materials. Not to mention, their spreads and commissions are pretty darn competitive too. Now, the ball's in your court when it comes to choosing whether to go with this broker or explore other options. Hopefully, this review has shed some light on your decision-making process.

Frequently Asked Questions (FAQs)

Q1: Is TMGM regulated?

A1: Yes. It is regulated by ASIC, FMA and VFSC (offshore).

Q2: At TMGM, are there any regional restrictions for traders?

A2: Yes. Products and Services offered on their website are not intended for residents of the United States.

Q3: Does TMGM offer demo accounts?

A3: Yes.

Q4: Does TMGM offer the industry-standard MT4 & MT5?

A4:Yes. It supports MT4, and MT5 is coming soon.

Q5: What is the minimum deposit for TMGM?

A5: The minimum initial deposit at TMGM to open an account is $100.

Are the transaction costs and expenses of gsi-markets, tmgm lower?

To compare transaction costs across different brokers, our experts analyze the transaction-specific fees (such as spreads) and non-trading fees (such as inactivity fees and payment costs).

To get a comprehensive understanding of how cheap or expensive gsi-markets and tmgm are, we first considered common fees for standard accounts. On gsi-markets, the average spread for the EUR/USD currency pair is -- pips, while on tmgm the spread is From 0.

Which broker between gsi-markets, tmgm is safer?

To determine the safety of our top brokers, our experts will consider many factors. This includes which licenses the broker holds and the credibility of these licenses. We also consider the history of brokers, because long-term brokers are usually more reliable and trustworthy than new brokers.

gsi-markets is regulated by --. tmgm is regulated by ASIC,FMA,VFSC.

Which broker between gsi-markets, tmgm provides better trading platform?

When our experts review brokers, they will open their own accounts and trade through the broker's trading platform. This enables them to comprehensively evaluate the quality, ease of use, and function of the platform.

gsi-markets provides trading platform including ISLAMIC ACCOUNT,PLATINUM ECN ACCOUNT,GOLD ECN ACCOUNT,SILVER ECN ACCOUNT and trading variety including --. tmgm provides trading platform including Edge ,Classic and trading variety including FX: 56 Bullion: 3 Oil: 2 CFD: 20 Crypto: 12 Shares: 48.

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