Abstract：On September 22nd, the Financial Commission (FinCom), a self-regulatory institution in the financial services sector, recognized TMGM as the newest approved broker member.
The Financial Commission (FinCom), a self-regulatory agency in the financial services industry, announced the inclusion of TMGM as the newest authorized broker member on September 22nd.
TMGM is a well-known brokerage firm, particularly in the Asia-Pacific area. Its worldwide activities are governed in Australia, New Zealand, and Vanuatu.
According to FinCom's website, it has 42 forex and contracts for differences (CFDs) brokers as members, including two sibling companies, Alpari and Alpari International. It has also granted membership to a number of blockchain platforms, technology suppliers, investment platform providers, and even educational institutions.
Brokers and their clients benefit from a broader choice of services and perks as FinCom members. The most popular, however, is fund protection of up to €20,000 for each client, guaranteed by the Financial Commission's Compensation Fund. This gives assurance to worldwide brokerage customers whose money is not covered by compensation systems offered by numerous leading authorities, such as the FCA and CySEC.
Furthermore, FinCom acts as a neutral third-party arbitrator in any dispute between any of the member brokers and their customers.
“For approved members and their clients who participate in CFDs, forex, and cryptocurrency markets, the Financial Commission facilitates a simpler, faster resolution process than through traditional regulatory channels such as arbitration or local court systems,” according to a press release shared with WikiFX.
Meanwhile, FinCom has recently evicted many businesses for violating its membership regulations. Fiber Markets, LordFX, and EGMarkets had their membership status revoked early this year owing to rules and standards violations. GANN Markets, on the other hand, elected to leave.
A Brief History of TMGM
TMGM is a solid broker with reasonable fees and advanced trading tools. With one of the top marks in our poll, TMGM stood firm against much bigger industry leaders. Our evaluation is based on a real Classic Account created with the Trademax Global Limited firm using the MetaTrader 4 platform (TMGM.com).
TMGM (Trademax Global Markets) was established in Australia in 2015. The top-tier Australian Securities and Investment Commission (ASIC), the Financial Markets Authority (FMA), and the Vanuatu Financial Services Commission all have jurisdiction over TMGM (VFSC). TMGM has over 12,000 trading products with a leverage of up to 1:500.
TMGM can provide excellent service to experienced, sophisticated traders, including semi-professionals, professionals, and fund managers. TMGM provides excellent teaching materials and customer assistance to novice traders. However, the feature-rich MetaTrader interface takes time to understand and is less intuitive than some other brokers' systems.
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There are about 39,000 brokers listed on the marketplace, both licensed and unregistered. WikiFX's staff has been working hard with 30 financial regulators from across the world to guarantee that the information supplied is accurate and up-to-date.
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