TMGM Pros & Cons | Get Information at a Glance

Introduction

Trademax Global Markets or TMGM is an Australian Forex and CFD broker that’s founded in 2013. It has over 15,000 trading instruments and over 150 billion dollars as a trading volume. TMGM is also regulated by tier 1 authority, ASIC. TMGM is also available in over 150 countries around the world and offers competitive spreads and a variety of methods for depositing and withdrawal. TMGM is one of the best choices if you’re familiar with the MetaTrader platforms like the MetaTrader 4.

In this article we’re addressing the main pros and cons of TMGM in each broker aspect.

TMGM

Pros

Cons

Safety

  • Over 8 years of trading experience
  • Regulated by top-tier ASIC
  • Negative balance protection
  • A trading volume of $150 billion
  • Not listed on the stock exchange markets
  • No client protection

Offering of Investments

  • Over 15,000 trading instruments
  • Forex and CFD trading
  • Shares, energies, and metals trading
  • No mutual funds or bonds trading

Account Opening

  • Fast and fully digital opening process
  • Low minimum deposit
  • Available in over 150 countries
  • Islamic account option
  • Demo account
  • None

Fees and Commissions

  • Inactivity fees

Deposit & Withdrawal

  • Various base currencies
  • Various deposit and withdrawal options
  • Free deposits and withdrawals
  • No withdrawal using Credit/ Debit Cards

Platforms and Languages

  • Available on MT4
  • Works on desktop, web, and mobile platforms
  • Order confirmation
  • Customizable charts
  • Available in several languages
  • Easy to use
  • Ability to social trade
  • Good searching functions
  • Notifications and price alerts on Desktop and Mobile versions
  • Lacks two-step verification
  • Old desktop design
  • No price alerts in the web version

Research Tools

  • Trading Ideas
  • Chartings
  • Newsfeed
  • Market Sentiment Tool
  • Economic Calendar
  • None

Customer Service

  • Live chat
  • Email support
  • Phone call
  • Only 24/5 support

Education

  • Demo account
  • Educational blog
  • Very limited educational materials
  • No tutorials or videos
  • No webinars and seminars

FAQs

  1. How long does it take to verify my account?
  • It takes about 1 to 2 business days to verify your TMGM account.
  1. Can I open more than one trading account?
  • Yes, you can do such a thing from the client portal. The maximum number of accounts you can have is 5.
  1. Does TMGM allow bot trading?
  • Yes, through Expert Advisors (EAs).
  1. Does TMGM give a bonus?
  • Yes, it does. You can contact the customer support team after you open a new account if you’re a new client to get your No Deposit Bonus.
  1. Does TMGM allow scalping and hedging?
  • Yes, it does allow both scalping and hedging.
  1. Where is my money held?
  • Your funds are held securely in the Tier 1 bank, National Australia Bank. your money is kept in segregated accounts separate from the company’s own funds.
  1. Does TMGM offer a swap-free account option?
  • Yes, it does provide it through the edge account type only.
  1. How do I log in using the MT4 mobile platform?
  • Steps:

1. Go to ‘Settings’

2. Click on ‘Manage Accounts’ or ‘Settings’

3. Then click on the small plus sign or select ‘New Account’

4. Then select ‘Log in to an existing account

5. Search for the broker name

6. Select the server your account was set up on

7. Enter your login credentials and password

8. Click on ‘Sign In’

  1. When trading forex, will you lose more than your initial deposit?
  • The MetaTrader 4 platform is set to automatically close your positions when your margin requirement reaches 100% (stop out level).
  • Please note that this process is automated and does not guarantee that your account will not enter into a negative equity situation. You should keep a balanced amount in your account above your required margin.
  1. Can I log in to more than one account from the same computer?
  • Yes, you can do such a thing by using the MT4 Multi Terminal.
  1. Can I log in to the same account through different devices?
  • Yes, you can log in to the MetaTrader 4 platform using the same password and username through different devices.
  1. Does TMGM accept payments from third parties?
  • Payments should be from an account that holds the same name as yours.

If you want more information, please check out TMGM Full Review.

 



Leave a Reply