What is TMGM?
What is TMGM？
At the beginning of the development, TMGM group started its operation in Australia back in 2013 when received its . Further on, for years of the progress and continuously strives, the company brought consistent and without any human intervention.
In addition to customer support, TMGM offers a unique feature called TMGM Academy. Through the TMGM Academy, you can learn about the ins and outs of forex trading. There are three stages available, Beginner Stage, Intermediate Stage, and Advanced Stage. It consists of three stages:
TMGM Academysstarts 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.
Thein 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.
Is TMGM safe or a scam？
is a safe broker to trade due to its regulatory status, since which adheres to strict standards. The ASIC regulation is among the strictest authorities worldwide, which ensures the stability and trustable maintain guidelines with the protection of the client.
Also, there is a , an offshore zone. While generally, we do not recommend trading with offshore brokers due to lack of requirements, since TradeMax holding an additional reputable license it is considered safe to trade.
How are you protected？
Along with that, the are numerous rules before brokerage establishes among them is capital requirements that should meet the robust risk management and internal procedures, with sufficient cash equivalence that provides broker‘s reliability. All clients’ funds are held in a segregated trust account with National Australia Bank (NAB), as well thethat places the compensation in case of the brokers insolvency.
A wide range of products across various subsidiaries within the group supports traders of different preferences. The variety includesthat are accessible through the trading platform, the most popular
Along with that, theMaking IRESS a better choice over MetaTrader 4 if you plan to trade shares since IRESS allows you to trade on exchanges in the following countries – United States, Australia, The United Kingdom, Hong Kong, China and Singapore.
The other benefit of IRESS is that it offers exchange pricing and market depth. This is because IRESS uses Direct Market Access (DMA) trading. DMA means you Level 2 Market Depth Order Book pricing, that is you can view live orders from institutional liquidity providers connected to the exchange. MetaTrader 4 does not offer DMA.
The main thing to be aware of is the high minimum deposit fee of $5,000 USD. So IRESS is for serious traders only. To use IRESS you will need an IRESS account. Minimum deposits for IRESS are high as DMA trading is mostly for professional traders. The cost will differ between stock exchanges. The below shows costs for US stock exchanges.
TMGM offers multiple trading accounts that provide you with the features and functionalities you need no matter what your trading experience level is. Whether youre a long-term investor or a day trader, TMGM has a trading account designed for your needs. Users have the choice between aand a .
TMGM‘s Classic account type offers spreads from 1 pip. However, no commission fees are included, since they’re already part of the spread. The Classic account type is ideal for anyone who prefers to use mid or long-term strategies that arent spread dependent. Classic account features include the following:
0.01 lot size minimum
Hedging and scalping allowed
Base currencies include: AUD, CAD, EUR, GBP, NZD, and USD
By comparison, the TMGM Edge account offers the sites lowest spreads, which start at 0 pips. Users will pay a $7 commission round turn ($3.50 one way) for each standard lot. The Edge account is the account that most closely resembles ECN trading since there is no dealing desk. This means you get ECN pricing as spreads are sourced from directly liquidity providers with no interference from TMGM. If you are a trader who desires TMGMs tightest spreads, then this is the right account type for you.
If you cant pay or receive interest due to your religious beliefs, TMGM also offers a Swap Free account. Swap-Free accounts are only available for Edge account types which means they have a $100 minimum deposit and a 0.01 lot minimum lot size.
If you want to practice trading before you register for an account, you can do so through TMGMs demo accounts. These accounts offer virtual funds, so you can familiarize yourself with the services and features offered by the broker. It also gives you a way to ensure you understand as much as possible about TMGM before opening a trading account.
Demo accounts using the MetaTrader 4 trading platform (which well get to in a moment) have access to the platform for 365 days. However, your access will be removed if there is no activity for six months. You can choose between three funding amounts for your demo account: $5,000, $10,000, and $50,000.
While trading Forex you are able to use leverage, which allows you to profit from the fluctuations in rates through multiplied trading size, compared to your initial balance. Leverage is a loan provided to a trader by the broker with a possibility to multiply potential gains, however, you should learn how to use tool smartly and do not involve yourself into the highest risk.
The available leverage will depend if you are trading from Australia/New Zealand or outside these countries.
In Australia where TMGM is regulated by ASIC, the maximum permitted leverage for Major forex pairs is 1:30 while Minor pairs are 1:20. This is in-line with European and UK regulators. However, if youre a pro trader on the TMGM platform, those numbers jump to 1:400 for both Major and Minor forex pairs.
In New Zealand where TMGM is regulated by FMA, the maximum permitted leverage is 1:30 for forex
If you are trading with TMGM and you reside outside these two countries then the maximum leverage when trading forex is 1:500.
Deposit and Withdrawal Methods
Easy and convenient funding of account can be performed by multiple secure methods withand includes . The account base currency is a choice of the trader, so it means all your transactions to and from the trading account will be performed with the chosen currency making it an easier process.
What is the minimum deposit for TMGM？
Minimum deposits when opening an account start is $100 however higher amounts may be needed to execute a trade. This is because you will still need to meet margin requirements. The Classic account does not charge a commission, however, you‘ll experience higher spreads. Comparatively, Edge accounts require a $7 commission fee with tighter spreads. Regardless of the account type you select, you’ll have ECN execution with a 0.01 minimum lot size.
Overall, theIn terms of regulations and reliability, according to the heavy requirements of ASIC, hence the investors are protected by many means.
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