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The WikiFX Score of this broker is reduced because of too many complaints!

TMG

United States|5-10 years|
MT4 Full License|Regional Brokers|United States Common Financial Service License Unauthorized|Suspicious Overrun|High potential risk|

http://www.tmgtrader.com/

Website

Rating Index

MT4/5 Identification

MT4/5 Identification

Full License

2
Server Name
TMG-Demo MT4
Server Location South Korea

Contact

info@tmgtrade.com
http://www.tmgtrader.com/
The WikiFX Score of this broker is reduced because of too many complaints!

Licenses

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

Open Now

Broker Information

More

Company Name

TMG Markets

Company Abbreviation

TMG

Platform registered country and region

United States

Company website

Pyramid scheme complaint

Expose

Check whenever you want

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Warning: Low score, please stay away! 4
Previous Detection : 2024-05-30
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
  • The number of the complaints received by WikiFX have reached 13 for this broker in the past 3 months. Please be aware of the risk and the potential scam!

WikiFX Verification

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    TMG · Company Summary

    Note: TMGs official site - http://www.tmgtrader.com/ is currently not functional. Therefore, we could only gather relevant information from the Internet to present a rough picture of this broker.

    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 contained in this article is for general information purposes only.

    General Information

    TMG Review Summary
    Founded 5-10 years
    Registered Country/Region United States
    Regulation NFA (Unauthorized)
    Market Instruments N/A
    Demo Account Unavailable
    Leverage 1:400
    EUR/ USD Spreads N/A
    Trading Platforms MT4
    Minimum Deposit N/A
    Customer Support Phone, QQ, email

    What is TMG?

    TMG, which claims to offer a maximum leverage of 1:400 and provides access to the MetaTrader 4 (MT4) trading platform, is currently facing regulatory challenges and has an unauthorized status. The company, registered in the United States under license number 0260148 with the NFA, has been flagged for abnormal regulatory status. Furthermore, concerns have been raised regarding TMG's operations, as their official website is currently inaccessible, which raises suspicions of the trading platform possibly absconding. Investors should exercise caution as these factors suggest increased risk associated with investing with TMG.

    In the following article, we will analyze the characteristics of this broker from various aspects, providing you with simple and organized information. If you are interested, please read on. At the end of the article, we will also briefly make a conclusion so that you can understand the broker's characteristics at a glance.

    Pros & Cons

    Pros & Cons
    Pros Cons
    • MT4 supported • Website is unavailable
    Phone and email support available • NFA Unauthorized
    • Some reports of withdrawal issues
    • No demo accounts
    • High leverage

    TMG Alternative Brokers

    There are many alternative brokers to TMG depending on the specific needs and preferences of the trader. Some popular options include:

    • LIGHT FX - An innovative online brokerage that prides itself on offering competitive trading conditions, cutting-edge technology, and a user-friendly interface to empower traders of all levels.

    • UFX- A user-friendly trading platform and a wide range of tradable assets, making it suitable for both beginner and experienced traders.

    • Trading 212 – A popular online brokerage platform that offers commission-free trading for a wide range of financial instruments, including stocks, ETFs, forex, and cryptocurrencies.

    Is TMG Safe or Scam?

    United States NFA (license number: 0260148) The regulatory status is abnormal and the official regulatory status is unauthorized. Therefore, TMG currently has no valid regulation, which means that there is no government or financial authority oversighting their operations. Besides, the official website of TMG is inaccessible, indicating that the trading platform may have absconded. These make investing with them risky.

    If you are considering investing with TMG, it is important to do your research thoroughly and weigh the potential risks against the potential rewards before making a decision. In general, it is recommended to invest with well-regulated brokers to ensure your funds are protected.

    unauthorized NFA license

    Leverage

    TMGoffers the maximum leverage of 1:400. Leverage refers to the ability to control a larger position in the market with a smaller amount of capital. In the case of TMG, this means that for every dollar of available capital, traders can open a position worth up to 400 times that amount.

    The high leverage offered by TMG can be attractive to traders seeking to maximize their potential gains. By amplifying their trading positions, they aim to increase profit potential. For example, with a 1:400 leverage, a trader with $1,000 in their account could potentially control positions worth up to $400,000. This allows for exposure to larger market movements and the possibility of generating significant returns.

    However, it is important to note that while leverage provides an opportunity for higher profits, it also carries a higher level of risk. The same magnification effect that amplifies potential gains also applies to losses. If the market moves against a leveraged position, losses can accumulate quickly and exceed the initial investment. Traders must carefully consider their risk management strategies and be prepared to handle potential losses.

    Trading Platforms

    TMG provides its clients with access to the popular trading platform called MT4, which stands for MetaTrader 4. MT4 is a widely recognized and preferred platform used by traders worldwide. It offers advanced trading features, intuitive interface, and a wide range of trading tools to enhance the trading experience.

    One of the key advantages of using MT4 is its user-friendly interface. It is designed to be easily navigated by both beginner and experienced traders, offering a seamless trading experience. Traders can access real-time market data, create and manage their trading accounts, and execute trades with just a few clicks. The platform provides a customizable layout, allowing traders to arrange charts, indicators, and other tools according to their preferences.

    MT4 also offers a comprehensive set of technical analysis tools. Traders can choose from a vast library of in-built indicators, such as moving averages, oscillators, and trend lines, to analyze market trends and make informed trading decisions. Additionally, MT4 supports the use of custom indicators, allowing traders to incorporate their own analytical tools to suit their unique trading strategies.

    See the trading platform comparison table below:

    Broker Trading Platform
    TMG MT4
    LIGHT FX MT5
    UFX MT4, MT5
    Trading 212 Proprietary platform and a Web-based Version

    User Exposure on WikiFX

    On our website, you can see that reports of unable to withdraw. Traders are encouraged to carefully review the available information and consider the risks associated with trading on an unregulated platform. You can check our platform for information before trading. If you find such fraudulent brokers or have been a victim of one, please let us know in the Exposure section, we would appreciate it and our team of experts will do everything possible to solve the problem for you.

    User Exposure on WikiFX

    Customer Service

    Customers can visit their office or get in touch with customer service line using the information provided below:

    Telephone: 4006625058

    QQ: 277879

    Email: info@tmgtrade.com

    Conclusion

    In conclusion, TMG is a trading platform that offers a range of services to its clients. The platform provides access to various financial markets, allowing traders to diversify their portfolios and capitalize on different trading opportunities. With its user-friendly interface and advanced charting tools, TMG's trading platform, MT4, caters to the needs of both beginner and advanced traders.

    However, TMG has many problems. First, it doesn‘t have regulation because of NFA unauthorized. Second, it is because the official website of TMG is inaccessible that the relevant information doesn’t be provided, which makes trade not transparent enough. Therefore, traders should verify the regulatory status of TMG or any broker they choose to work with to ensure compliance with industry standards and regulatory requirements.

    Frequently Asked Questions (FAQs)

    Q 1: Is TMG regulated?
    A 1: No. It has been verified that this broker currently has no valid regulation.
    Q 2: How can I contact the customer support team at TMG?
    A 2: You can contact via telephone, 4006625058, QQ, 277879 and email, info@tmgtrade.com.
    Q 3: Does TMG offer demo accounts?
    A 3: No.
    Q 4: Does TMG offer the industry leading MT4 & MT5?
    A 4: Yes. It supports MT4.
    Q 5: Is TMG a good broker for beginners?
    A 5: No. It is not a good choice for beginners. Not only its unauthorized UFA, but also because of its inaccessible website.

    User Reviews

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    Comments

    Write a review

    Xúǎn        
    more than one year
    I gave one star because there is no lower score on the scale. I should give minus 100 meaning that it is the scam company. Unfortunately I trusted their sweet words and made money transfer. Soon afterwards after reading some bad reviews about this company I asked for my deposit return. Until now (more than 2 years) I didn't get it back.
    2023-03-13 16:57
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