WikiFX Review: Can We Trust TMGM?

TMGM was formerly known as TradeMax, which was established in 2013. In 2018, TradeMax officially changed its name to TMGM.

Currently, TMGM is headquartered in Sydney, Australia, and the company also has physical offices in New Zealand, Melbourne, etc. The founders of TMGM are traders, so they specialize in designing reliable electronic trading for retail investors and solving various problems faced by retail investors. Currently, TMGM offers trading of foreign exchange, precious metals, stock index CFDs and other products.

Protection offered by TMGM:

TMGM was founded in Sydney, Australia and held the regulatory license (436416) from ASIC to protect the rights and interests of Australian clients. Clients' funds are independently stored in the National Australia Bank (NAB) trust account. Clients can even check their account balances by logging into their dedicated bank account through NAB.

The New Zealand Financial Markets Authority (FMA) (569807) regulates clients in New Zealand.

Customers in other regions are regulated by Vanuatu Financial Services Commission (VSFC) (40356).

In addition, TMGM employs independent external auditors to ensure its operation is safe and up to standard.

Deposit and Withdrawal Methods of TMGM

TMGM accepts credit cards, bank wire transfers, online payment gateway Fasapay, electronic wallets (Skrill & Neteller) and other ways to deposit funds.

In contrast, there are fewer ways to withdraw funds.

Credit card deposits and withdrawals arrive in time, while bank telegraphic transfer takes 1-3 working days, and the customer bears the telegraphic transfer fee.

TMGM does not charge any fees/commissions for deposits/withdrawals. However, the customers bear the fees involved in the bank or electronic wallet.

TMGMs Trading Platforms

TMGM currently provides two trading platforms, MT4 and MT5. In addition, TMGM also provides iRESS web-based institutional-level trading platform, which is suitable for Windows, iOS and Android users.

In addition, TMGM also provides a trading calendar, market sentiment tools, VPS (Virtual Private Server) and free financial news service in the trading centre for its account holders.

TMGM Customer Service

TMGM provides 24/7 professional customer service so that customers can get the support and assistance they need at any time. TMGM also provides customer service options in more than 10 languages for customers who are not familiar with English.

Overall Verdict:

TMGM is supervised by three major financial institutions and provides PI insurance of up to A$5 million to protect customers' financial security. From all aspects of the official website, including the types of languages supported by the customer service, complete deposit and withdrawal system, simple registration method, free and comprehensive trading courses, and advanced iRESS trading platform, it is obvious that TMGM is a decent broker that puts its customers first.