TMGM review.

Overview

TrueBroker is a free broker safety checker, and this page is our review of TMGM, scored 7.1 out of 10 across regulation, fees, platform, support and reviews. TMGM is the trading brand for four separately regulated companies in the Trademax group, not one legal entity: Trademax Australia Limited (regulated by ASIC), Trademax Global Limited (regulated by the VFSC in Vanuatu), Trademax Global Markets (SE) Limited (regulated by the Financial Services Authority in Seychelles) and Trademax Global Markets (International) Pty Ltd (regulated by the FSC in Mauritius in Mauritius). Which of the four onboards a given client changes both the applicable leverage cap and the regulator a complaint goes to, which is the single fact worth knowing before anything else on this page.

Our previous score for TMGM was 4.3/10; this review scores it 7.1/10. We are not reporting that TMGM got safer in the meantime. The criteria and the evidence behind this score both changed: this time we searched four registers directly, ASIC, the VFSC, the Seychelles FSA and the FSC Mauritius, and all four confirmed the entity and licence status TMGM claims for itself, which the earlier review was not written against. We also ran TMGM’s name against 1441 warning-list entries mirrored from CYSEC, the FCA and the FSC Mauritius list and got no match. That combination of confirmed licences and a clean warning-list search is reflected in the regulation score of 6 and the fees score of 9; the reviews score of 5.9 is the lowest of the five and holds the overall figure down from where the other criteria alone would put it.

Who Actually Holds the Licence Behind TMGM

The ASIC register shows AFS licence 436416 held by TRADEMAX AUSTRALIA LIMITED, ABN 76 162 331 311, since 21/05/2013, and the same company appears in the ASIC company dataset as an Australian public company registered 11/02/2013 and still active as of the 2026-09-21 snapshot. On the VFSC’s Financial Dealers Licensee List, Trademax Global Limited holds company number 40356, licence classes A, B and C, status Active, licensed since 22-Dec-22; the VFSC does not publish what classes A, B and C actually permit, so we report them as the register states them and no further. The Seychelles FSA lists Trademax Global Markets (SE) Limited, trading as TMGM, as a regulated securities dealer, though the register does not publish licence numbers, so the “SD224” TMGM quotes is the firm’s own claim rather than something we could check against the register itself. The FSC Mauritius Online Public Register confirms Trademax Global Markets (International) Pty Ltd holds an SEC-2.1B Investment Dealer (Full Service Dealer excluding Underwriting) licence, dated 16/03/2023; again the register does not publish the licence number, so the company and its permission check out while “GB22201012” does not.

Overview Table

Facts List

• TrueBroker’s score for TMGM is 7.1/10, up from an earlier 4.3/10; the move reflects this review’s register checks and criteria, not a change at the firm.
• TMGM trades through four separately regulated companies, each with its own licence, registered address and, in the case of the ASIC entity, its own support email.
• The ASIC register confirms AFS licence 436416 is held by Trademax Australia Limited, ABN 76 162 331 311, since 21/05/2013.
• The VFSC’s Financial Dealers Licensee List confirms Trademax Global Limited, company number 40356, licence classes A, B and C, status Active.
• The Seychelles FSA lists Trademax Global Markets (SE) Limited as a regulated securities dealer; the register does not publish licence numbers, so “SD224” remains TMGM’s own claim.
• The FSC Mauritius register confirms Trademax Global Markets (International) Pty Ltd holds an SEC-2.1B Investment Dealer licence since 16/03/2023; the quoted licence number “GB22201012” is not something the register itself publishes.
• We searched TMGM’s name against 1441 warning-list entries mirrored from CYSEC, the FCA and the FSC Mauritius list and found no match.
• Advertised leverage varies sharply by page: “Up to 1:1000” on TMGM’s general marketing pages against “Up to 1:30 Leverage” on the ASIC-facing terms page.
• TMGM states it carries $10 million Professional Indemnity Insurance and holds client funds with Tier-1 banks such as NAB, per its own about and legal pages.
• TMGM publishes a fraud warning stating it does not give trading signals or financial advice via Telegram, WhatsApp, X or other social platforms, and does not authorise any Introducing Broker, affiliate or third party to act on its behalf there.

Key Takeaways

This review scores TMGM at 7.1 out of 10, up from the 4.3 this catalogue gave it before. The move is ours, not the firm’s: this pass checked TMGM’s licence claims against four regulators directly and ran its name through 1,441 mirrored warning-list entries, and that verification work is what moved the regulation, fees and support scores from where they sat last time. The findings below are what drove each number.

What the registers confirm about TMGM

• TMGM trades through four separate legal entities, and each licence checked out on its regulator’s own register: Trademax Australia Limited holds AFSL 436416 on the ASIC register; Trademax Global Limited holds VFSC registration 40356, licence class A, B, C, status Active since 22 December 2022; Trademax Global Markets (SE) Limited appears on the Seychelles FSA register as a regulated securities dealer trading as TMGM; Trademax Global Markets (International) Pty Ltd is on the FSC Mauritius register holding SEC-2.1B Investment Dealer permission since 16 March 2023.
• Two of those four numbers are the firm’s own claim rather than a published register field: the Seychelles FSA register doesn’t publish licence numbers, so SD224 checks out only as far as the entity and its regulated status; the same is true of Mauritius’s GB22201012, where the FSC register confirms the company and the SEC-2.1B permission but not the number itself.
• The ASIC entity’s ABN, 76 162 331 311, is confirmed on the ASIC Company Dataset as an Australian public company registered 11 February 2013. That register confirms the company exists, not that it holds a financial services licence; the licence itself sits on a separate ASIC record, which is the AFSL entry above.
• We searched TMGM’s name against 1,441 entries mirrored from the CySEC, FCA and FSC Mauritius warning lists and found no match. That covers only the regulators we mirror, not a global sweep, but it’s a clean result this catalogue didn’t have before.

What TMGM charges

• TMGM’s own fee pages list $0 for bank wire, TRC20/ERC20 crypto and the regional local payment methods for Southeast Asia and China. Bank wire deposits carry a stated $0 fee from TMGM alongside a note that intermediary bank fees may apply on top.
• The Edge account’s own account page gives its commission as $7 USD per round turn on forex and $5 USD per round turn on metals; the Classic account carries no trading commission and a spread from 1.0 pips instead.
• The Cent account rounds spread rebates to two decimal places, so a rebate of 4 USC rounds down to zero while 5 USC rounds up to a cent, and any Cent account crypto withdrawal under $100 must be taken as a full balance withdrawal with a minimum of $20 left behind after the deduction.
• A Swap-Free account isn’t fee-free overnight: after an initial five calendar-day grace period, TMGM’s own account page sets an overnight financing fee running from $2.00 per instrument on pairs like AUDUSD and EURUSD up to $20.00 on gold, silver and platinum.
• The Account Types page contradicts itself on the minimum deposit: its own FAQ states TMGM requires no minimum deposit, while the hero stats and comparison table on the same page put the EDGE and CLASSIC minimum at $100.

Platforms, accounts and where the pages disagree with each other

• TMGM runs MetaTrader 4, MetaTrader 5 and its own branded TMGM App, the last built on TradingView charting technology with copy trading, one-click trading, 2FA and facial-recognition login. MT5 is described on TMGM’s own platform page as the flagship, with over 80 indicators and VPS hosting available as an add-on.
• The Cent account is restricted to clients in Brunei, Cambodia, Indonesia, Malaysia, the Philippines, Thailand, Timor-Leste, Vietnam and Latin American countries, and its own account page limits trading to Forex majors and minors, gold, silver, crude oil and BTCUSD only, with no demo account offered on that account type.
• TMGM’s own pages disagree on how long a demo account lasts: the ASIC terms page states demo accounts are deleted on the first Saturday of every month regardless of open positions, while a separate platforms FAQ page states demo accounts are valid for 30 days with $100,000 in virtual funds.

Support and why the “reviews” score sits at 5.9

• Support runs on separate contact details depending on which entity onboarded a client: the ASIC entity answers at support@tmgm.com.au, while the Vanuatu, Seychelles and Mauritius entities share support@tmgm.com. TMGM lists registered offices in Sydney, Melbourne, Adelaide and Canberra alongside its Port Vila, Mahe and Port Louis addresses for the other three entities.
• TMGM publishes a fraud alert on its own about page stating it does not give trading signals or financial advice through Telegram, WhatsApp, X or other social platforms, and does not authorise any introducing broker or affiliate to act on its behalf there.
• The reviews score reflects unresolved inconsistencies across TMGM’s own site rather than any single defect: a rotating graphic on the contact page still shows untranslated Latin placeholder filler in place of translated copy, some localised pages point to a different domain, tmgm-market.com, and the firm’s own pages give two different total trading volume figures, $490 billion on one page and 2,045BN+ on another.

Licenses & Regulation

TrueBroker’s previous review scored TMGM at 4.3 out of 10 overall; this review scores it 7.1. The regulation criterion itself now sits at 6 out of 10, and what moved it is direct verification: we searched four public registers ourselves (ASIC, the VFSC Financial Dealers Licensee List, the Seychelles FSA and the Mauritius FSC Online Public Register), running a positive control on each so an empty result would mean absence rather than a broken search, and we ran TMGM’s name against 1441 warning-list entries mirrored from CySEC, the FCA and FSC Mauritius. TMGM appears on none of them. That is a genuine finding this catalogue did not have before, and it is why the score moved, not because anything about the firm itself has changed.

TMGM is four separate companies, not one

The brand “TMGM” covers four legal entities, each with its own registered address and its own regulator, and the pages we fetched are explicit about this split. A client’s actual counterparty, and which regulator stands behind their account, depends on which entity onboarded them:

• Trademax Australia Limited (ABN 76 162 331 311), Sydney. The ASIC register confirms AFS licence 436416 is held by this entity, authorised since 21/05/2013.
• Trademax Global Limited, Port Vila, Vanuatu. The VFSC Financial Dealers Licensee List confirms company number 40356, licence class A, B, C, status Active, licensed since 22 December 2022. The VFSC register does not publish what classes A, B and C actually cover, so those are reported as the register states them, nothing more.
• Trademax Global Markets (SE) Limited, Mahe, Seychelles. The Seychelles FSA lists this entity, trading as TMGM, as a regulated securities dealer. The FSA register does not publish individual licence numbers, so the firm’s own citation of “SD224” is confirmed only as the firm’s claim, not as something the register itself shows.
• Trademax Global Markets (International) Pty Ltd, Port Louis, Mauritius. The FSC Mauritius Online Public Register confirms this entity holds an SEC-2.1B Investment Dealer licence (Full Service Dealer, excluding Underwriting), licensed 16/03/2023. Same caveat as Seychelles: the register publishes the licence type and date but not the licence number, so “GB22201012” is the firm’s figure, not a register-verified one.

What the ASIC entity’s ABN does and doesn’t confirm

TMGM’s Australian terms page also quotes ABN 76 162 331 311. The ASIC Company Dataset on data.gov.au, in its snapshot of 2026-09-21, confirms Trademax Australia Limited as an Australian public company (ACN 162 331 311, registered 11/02/2013, status registered). That is ASIC’s company register, a record of corporate existence, and it is a separate thing from the AFSL licence register that grants permission to deal in financial products. The two happen to check out for the same entity here, but a reader should not treat an ABN as proof of a licence; the AFSL number is the one that does that work.

Where TMGM’s leverage cap depends on which page a client lands on

The Australian-facing terms page states “Up to 1:30 Leverage” with a “$100 min Deposit”, while most of the other geo-localised homepages we fetched, including Vietnam, Indonesia, Germany, Japan, South Africa, Thailand and the UAE, advertise leverage of up to 1:1000 alongside a $50 or $100 minimum deposit depending on the page. A factor-of-30 gap in headline leverage sitting on different pages of the same brand is consistent with ASIC’s entity holding the retail licence and the offshore entities (VFSC, Seychelles FSA, FSC Mauritius) not carrying that constraint, but it also means the leverage figure a prospective client sees depends entirely on which regional page, and therefore which regulated entity, greets them first.

Client-protection claims on TMGM’s own pages

TMGM’s about and legal pages state the firm carries Professional Indemnity insurance with single coverage up to AUD 10 million, covering errors, negligence, recklessness and fraud, and that client funds are held with Tier-1 banks such as NAB. These are the firm’s own figures from its own pages, not a register check, and the AUD 10 million cap is the number that would bound what this specific channel could recover if something went wrong with the firm’s own conduct.

The same pages carry a fraud alert stating TMGM does not provide trading signals or financial advice via Telegram, WhatsApp, X or other social platforms, and does not authorise any introducing broker, affiliate or third party to give financial advice or act on its behalf on social media. That the firm feels the need to publish this is itself worth noting: it points to impersonation activity using the TMGM name that a prospective client contacted through an unofficial channel should be alert to.

A domain worth double-checking before trusting it

Several of TMGM’s own localised pages, including the Indonesia homepage and terms pages and some UK and UAE account and platform pages, give the corporate site as tmgm-market.com, while other country versions of the site (Vietnam, Germany, Japan, South Africa, Thailand, UAE, Australia) show tmgm.com. Both sets of pages give support@tmgm.com as the contact address. A domain that differs across the firm’s own pages is a verification concern worth carrying into any contact made through those pages, rather than something we can resolve from the pages themselves.

How to Trade

TMGM’s own Australian markets page describes trading across forex, shares, indices, precious metals, energies and cryptocurrencies: it advertises “over 60 currency pairs”, index CFDs on “major international stock markets”, metal CFDs “ranging from gold and silver to platinum”, energy CFDs including Brent and WTI, and ten different cryptocurrencies. Other pages we fetched list ETFs as a separate market category in the site’s own navigation. Our earlier review had also put a number on share CFDs, over 10,000 of them, and named specific index and commodity tickers (US30, SPX500, NAS100, gold, silver, crude oil, natural gas, wheat) and specific coins (Bitcoin, Ethereum, Litecoin, Ripple); we did not independently fetch a page confirming that count, so it is reported here as the earlier review’s figure, not TMGM’s own.

Classic and Edge: TMGM’s two core account types

TMGM’s own account page sets out two main account types. Both list hedging as allowed, a 20% stop-out level, MT4/MT5 access, Expert Advisor compatibility, an Islamic (swap-free) option and a VPS subscription. Confusingly, the same page’s own FAQ states TMGM does not require a minimum deposit, directly under a hero section and comparison table on the same page that both give $100 as the minimum for these two accounts.

The demo account is a similar case of TMGM’s own pages disagreeing with each other: a platforms FAQ we fetched describes demo accounts as holding $100,000 in virtual funds and staying valid for 30 days, while a disclaimer on TMGM’s ASIC-facing terms page states the demo account is deleted on the first Saturday of every month regardless of whether there are open orders or equity in it.

The Cent Account’s narrower rules

TMGM also runs a Cent Account, priced in lot sizes of 0.01 standard lots (1,000 units) with margin available from 10 US cents, on MT5 only. Its own account page caps leverage at 1:500, reduced once equity passes $5,000, and restricts the tradable list to Forex major and minor pairs, Gold, Silver, Crude Oil and BTCUSD; exotic forex pairs, indices, shares and other cryptocurrencies are not available on it, and no demo account exists for this account type. The same page limits the Cent Account to clients in Brunei, Cambodia, Indonesia, Malaysia, the Philippines, Thailand, Timor-Leste, Vietnam and Latin American countries, which sits oddly next to a separate site-wide disclaimer on another TMGM page excluding Malaysia and Thailand from the firm’s services generally. The Cent Account’s own commission schedule charges $0.07 per lot on its Edge sub-type and nothing on its Classic sub-type, and rebates are rounded to two decimal places by TMGM’s own description of the account: 4 hundredths of a cent rounds down to zero, 5 rounds up to a full cent, which quietly forfeits anything below half a cent. On the withdrawal side, the same page requires a minimum crypto withdrawal of $100, and for balances under that figure requires the full balance to be withdrawn while leaving no less than $20 behind.

Leverage depends on which TMGM page a trader lands on

The leverage cap TMGM advertises is not one number. Its account comparison page, aimed at a general international audience, gives both CLASSIC and EDGE accounts leverage up to 1:1000, and its Australian markets page separately advertises forex trading at “up to 1:30 leverage” alongside a $100 minimum deposit on the entity-specific terms page used for its ASIC-regulated arm, Trademax Australia Limited. A factor of more than 30 between the two figures is consistent with the lower leverage cap ASIC applies to retail clients generally, but a reader moving between TMGM’s own pages would see very different numbers depending on which one they read.

Swap-free accounts still carry a cost at TMGM

TMGM’s own account pages offer Islamic, swap-free versions of both Classic and Edge on MT4 and MT5, replacing overnight swap with a flat “overnight financing fee” charged per instrument once an initial five-calendar-day, fee-free grace period on a new account has passed. TMGM’s own fee page puts that charge at $2.00 on pairs such as AUDUSD and EURUSD, rising to $20.00 on XAUUSD, XAGUSD and XPTUSD, with non-USD account balances converted at the prevailing USD exchange rate to apply it. A swap-free account at TMGM is not a fee-free one past the first week; it substitutes one recurring charge for another.

Account Types

TMGM sells two core live accounts, Classic and Edge, plus a Cent Account variant and a swap-free option layered onto either of the first two. The firm’s own account-types page for CLASSIC and EDGE gives a $100 minimum deposit and lists Edge as spread from 0.0 pips with commission, Classic as spread from 1.0 pips with no commission, both offering leverage up to 1:1000 on MT4 and MT5. An earlier review of TMGM gave a lower $50 minimum for both accounts; the firm’s own current account page states $100, and that is the figure used here.

What TMGM’s Edge and Classic accounts actually charge

The Edge account carries a commission of $7 USD per standard lot round turn on forex and $5 USD per round turn on metals, on top of its raw spread, according to TMGM’s own account page. The Classic account drops the commission and folds the cost into a wider spread, quoted from 1.0 pips. Both accounts list hedging as allowed and a 20% stop-out level. Oddly, the same account-types page carries an FAQ answer stating TMGM does not require a minimum deposit at all, directly under a hero section and comparison table that both put the figure at $100 for these two accounts. A prospective client reading only the FAQ could reasonably conclude no minimum applies; the account terms on the same page say otherwise.

The Cent Account, and who is actually allowed to hold one

TMGM also runs a Cent Account, priced in lots of 0.01 of a standard lot (1,000 units), with margin available from 10 US cents. Its minimum deposit depends on funding method: $15 via local payment methods, $50 by crypto, or $100 by credit card, per the firm’s own accounts page. It has two commission tiers of its own: an Edge sub-type charging $0.07 per lot, and a Classic sub-type charging nothing. The account runs on MT5 only, offers no demo version, and its leverage of up to 1:500 is reduced once equity passes $5,000. Instrument access is cut down to Forex majors and minors, Gold, Silver, Crude Oil and BTCUSD; exotic pairs, indices, shares and other cryptocurrencies are not tradable on it. It is also not open to everyone: the firm restricts it to clients in Brunei, Cambodia, Indonesia, Malaysia, the Philippines, Thailand, Timor-Leste, Vietnam and LATAM countries, which sits awkwardly against TMGM’s separate site-wide notice that its products are not intended for residents of Malaysia and Thailand at all. Two mechanical details bind Cent Account holders specifically: withdrawals below $100 USD must be taken as a full balance withdrawal with a minimum of $20 USD left behind, and rebates are rounded to two decimal places, so a 4 USC rebate (0.004 USD) rounds down to zero while 5 USC rounds up to 0.01 USD.

Swap-free and leverage that changes with the page

An Islamic, swap-free variant is available on both the Classic and Edge account types, on MT4 and MT5, and TMGM’s own funding page for it describes spreads as low as 0.0 pips with no swap or interest adjustment. What replaces the swap is a daily overnight financing fee charged per instrument once a five-calendar-day, fee-free grace period on new accounts ends: the firm’s fee table puts this at $2.00 on pairs like AUDUSD and EURUSD, rising to $20.00 on XAUUSD, XAGUSD and XPTUSD. A swap-free account here is not a free-carry account past day five, just one that trades an interest charge for a flat per-instrument fee.

Leverage itself is not one number. The account-comparison pages generally advertise up to 1:1000, but TMGM’s own Australian-facing terms page, tied to the ASIC-regulated entity Trademax Australia Limited, caps leverage at 1:30 with a $100 minimum deposit. Which cap actually applies depends on which of TMGM’s four regulated entities opens the account, not on marketing copy seen before signup.

Demo accounts, on two different clocks

TMGM’s platform FAQ page states demo accounts carry $100,000 in virtual funds, run on real-time market data, are valid for 30 days, and that clients can open an unlimited number of them. The Australian terms page, by contrast, states the demo account is deleted on the first Saturday of every month regardless of open orders or existing equity, which is a materially shorter and less predictable window than a flat 30 days from opening. Which rule actually governs a given demo account was not resolved by the pages fetched; both statements come from TMGM’s own site.

Negative Balance Protection

TMGM does not publish a negative balance protection guarantee, a maximum drawdown rule, or a specific loss limit policy in any of the pages our review process fetched. What we hold instead is a stop out level, a set of margin mechanics, and a swap free fee structure that together shape what happens as an account’s equity falls, and those are worth setting out plainly.

Stop out and margin on TMGM’s EDGE and CLASSIC accounts

TMGM’s own account comparison page states a stop out level of 20% for both the EDGE account (minimum deposit $100, spread from 0.0 pips, leverage up to 1:1000) and the CLASSIC account (minimum deposit $100, spread from 1.0 pips, no commission, leverage up to 1:1000). Both account types are described on that page as allowing hedging. The page does not define what happens to an open position once equity reaches that 20% threshold beyond the stop out itself, and it does not state whether a client’s account can be closed out with a balance below zero.

The Cent Account, covered on a separate account types page, carries its own leverage regime: up to 1:500, reduced once equity passes $5,000. That page does not restate a stop out percentage for the Cent Account, so the 20% figure given for EDGE and CLASSIC should not be assumed to carry over.

Leverage varies sharply by which of TMGM’s four entities onboards a client

How much room an account has before it reaches a stop out event depends heavily on leverage, and TMGM’s own pages do not agree on what that leverage is. The Australian facing terms page, which covers Trademax Australia Limited under its AFSL No. 436416, advertises leverage of “Up to 1:30” alongside a $100 minimum deposit. Most of the firm’s other country versions of the site, covering the Vanuatu, Seychelles and Mauritius entities, advertise leverage up to 1:1000 with a minimum deposit of either $50 or $100 depending on the page. A client trading under the ASIC licensed entity is working with roughly a thirtieth of the leverage headroom advertised to clients onboarded elsewhere, which changes how far price needs to move before a stop out is triggered on a given position size.

Swap free accounts still carry an overnight fee that can outlast a losing position

TMGM’s account pages describe an Islamic, swap free option available on both EDGE and CLASSIC, on MT4 and MT5. Rather than charging the usual overnight swap, the firm’s own fee schedule sets an “overnight financing fee” per instrument once an initial five calendar day grace period on a new account ends. The published range runs from $2.00 per instrument on pairs such as AUDUSD and EURUSD up to $20.00 on XAUUSD, XAGUSD and XPTUSD. Non-USD accounts are converted at the prevailing USD exchange rate. This means a losing position held on a swap free account past the grace period is not shielded from ongoing cost the way the “swap free” label might suggest. It continues to accrue a fixed per-instrument charge that adds to whatever drawdown the position is already running.

A separate stop out document exists for fully hedged positions

TMGM’s Legal Documents page lists a document titled “Peringatan Stop Out Fully Hedged” (Fully Hedged Stop Out Warning), kept apart from the general Client Agreement and the standard Risk Warning Notice. Its existence signals that stop out mechanics for a fully hedged position may not follow the flat 20% figure quoted on the account comparison page, but the fetched pages did not include that document’s text, so what it actually specifies cannot be reported here.

What we did and did not check

We read TMGM’s own account comparison, fee and terms pages across several of its geo domains. None of the pages fetched contains a statement of negative balance protection, a per account loss cap, or a guarantee that a client’s balance cannot go below zero. Because register silence and page silence are not findings, that absence is not reported here as a fact about TMGM’s policy. What can be reported is what the fetched pages actually say: a 20% stop out level on EDGE and CLASSIC accounts, a leverage figure that swings from 1:30 to 1:1000 depending on which of the firm’s four regulated entities a client is trading under, and a swap free fee structure that keeps charging after a grace period rather than removing cost from an open position. TMGM’s terms page also puts the burden on the client directly, telling prospective clients to “read our Financial Services Guide (FSG), Product Disclosure Statement (PDS), Client Agreement, Risk Disclosure and other relevant legal documents posted on our website to ensure you fully understand the risk before you make any trading decisions” rather than setting out those risk terms on the page itself.

Trading Instruments

TMGM’s own account and market pages, read directly, confirm forex, share CFDs, stock indices, precious metals, energies, cryptocurrencies and ETFs as tradeable categories, alongside the wider range our earlier review had already catalogued: 60-plus currency pairs, indices including US30, SPX500, NAS100, UK100, GER30/GER40 and AUS200, and commodities such as gold, silver, crude oil, Brent oil, natural gas and wheat. TMGM’s Vanuatu-facing site navigation lists Forex, Precious Metal, Gold, Cryptocurrency, Shares, Indices, Oil, CFD Trading and ETFs as separate market categories, and a market menu on one of the firm’s Indonesian-language account pages likewise carries Emas (Gold) as its own line item distinct from the broader “Logam Mulia” precious-metals category. None of the fetched pages give an ETF count or list which ETFs are on offer; the category is named in the menu and nothing more.

What the firm’s own pages say about scale, and where they disagree

The scale claims do not all match each other. TMGM’s Australia-facing markets page, read directly, describes shares as “hundreds top shares” with dividend payments on long positions, while the earlier review reported more than 10,000 share CFDs on US, UK, European and Asia-Pacific markets. Those are two different pictures of the same product line, one from a page TMGM itself publishes and one carried over from the prior review, and we have not fetched a page that reconciles them. The same Australia-facing page states cryptocurrencies as “trade 10 different coins”, against the earlier review’s list of Bitcoin, Ethereum, Litecoin, Ripple “and others”, and a live-rates widget on the material from our earlier review naming BTCUSD, ETHUSD, BNBUSD, DOGEUSD and DOTUSD. Forex is the one figure that lines up: the Australia-facing page states “over 60 currency pairs”, matching the earlier review’s “60+ pairs” figure.

TMGM’s Cent Account trades a narrower list

The Cent Account overview page, fetched directly, restricts what can be traded on that account type to Forex Major and Minor pairs, Gold, Silver, Crude Oil and BTCUSD only. The same page states in as many words that exotic forex pairs, indices, shares and other cryptocurrencies are not available on a Cent Account, and that the account runs on MT5 only with no demo account offered. Access to the Cent Account itself is also restricted: the page lists Brunei, Cambodia, Indonesia, Malaysia, the Philippines, Thailand, Timor-Leste, Vietnam and Latin American countries as the countries it is available in, which sits oddly next to a separate legal-documents page stating that TMGM’s products and services are not intended for residents of Malaysia and Thailand at all. We have not fetched anything that resolves that overlap; both statements are on pages TMGM itself publishes.

Leverage on the same instruments varies by which page a client lands on

TMGM’s Australia-facing terms page, read directly, advertises leverage “Up to 1:30” with a $100 minimum deposit, while the general account pages and most other geo-targeted pages we fetched advertise leverage up to 1:1000 with a $50 or $100 minimum deposit depending on the page. The Cent Account overview page separately caps leverage at up to 1:500, reduced further once account equity passes $5,000. None of the fetched pages spell out which figure applies to which client; a trader is left to work out from the page they happen to be on, rather than from a single stated policy, how much leverage applies to their account on the same forex and metals instruments.

Education & Analysis

TMGM runs trading through the two MetaTrader builds rather than a proprietary desktop terminal, backed by a browser version of each and a separate branded mobile app. What each one actually includes, and how consistently TMGM describes them, is worth setting out in full.

MetaTrader 4 and MetaTrader 5 on TMGM

An earlier review of TMGM described MetaTrader 4 there as carrying 30 built-in indicators, nine timeframes and three chart types, with support for Expert Advisors, and put MetaTrader 5’s toolkit at 38 indicators, 21 timeframes and the ability to hold up to 100 charts open at once. TMGM’s own UK-facing platforms page, which we fetched directly, describes MetaTrader 5 as the firm’s “flagship platform” and gives a different indicator count for it: more than 80 technical indicators against the same 21 timeframes. The two figures for MT5’s indicator count, 38 against 80+, do not agree with each other, and nothing in the pages we hold explains the gap; a client comparing the two should not assume either number is the one they will see in their own terminal. Both platforms are also offered through WebTrader, a browser version that needs no software install, and TMGM’s own platforms page lists WebTrader itself as one of a set of MetaTrader 5 add-ons alongside VPS hosting, premium indicator packs, Trading Central integration and multi-terminal functionality. The account pages for the EDGE and CLASSIC account types separately confirm MT4/MT5 access, a VPS subscription option and hedging, with a stop-out level set at 20% on both.

The TMGM App, alongside MetaTrader

Beyond the two MetaTrader platforms, TMGM’s own site lists a third, separately branded option: the TMGM App. According to that page, it is built on TradingView’s charting technology rather than MetaTrader’s, and adds copy trading with stop-loss control, one-click trading, two-factor authentication and a facial-recognition biometric login. It is listed as a distinct menu item from MetaTrader 4 and MetaTrader 5 in TMGM’s own platform navigation, with its own store links in the site footer, so a client choosing TMGM for MetaTrader compatibility and one choosing it for the TradingView-based app are in practice picking two different pieces of software under the same brand.

Demo accounts: two TMGM pages, two different rules

TMGM’s platforms FAQ page states that a demo account comes with $100,000 in virtual funds, stays valid for 30 days, and that a client can open an unlimited number of them. The firm’s own Australian-facing terms page states something different about the same product: “The demo account will be deleted on the first Saturday of each month, regardless of whether there are any open orders or equities.” Read together, these are two different lifespans for the same account type on two pages the firm itself publishes, and we cannot say which governs a given client’s account without knowing which entity, and which page, applied at sign-up.

What is missing from TMGM’s own tooling pages

The pages we fetched describe MetaTrader’s built-in indicator sets, TradingView charting inside the TMGM App, and add-ons that include Trading Central integration and premium indicator packs; they say nothing about any TMGM-built proprietary charting terminal beyond that. Copy trading appears only as a feature of the TMGM App page, not as a separate standalone service page in the material we hold, so what it covers beyond stop-loss control on copied trades is not something we can describe further from what TMGM has published.

Special Offers

TMGM’s own account and fee pages describe pricing through spreads, per-lot commission and payment-method terms.

What TMGM’s fee pages describe instead of a promotion

The funding table on TMGM’s fee page states a deposit fee of $0 across every listed method, including bank wire transfer, TRC20/ERC20 crypto transfer, a CNY local payment method and several Southeast Asia local payment methods (IDR, MYR, VND, PHP, KHR, LAK, THB). Minimum deposits on that table range from $50 for crypto and the Southeast Asia methods up to $500 for the CNY method, and bank wire carries a $100 minimum with a stated $0 TMGM fee, though the page notes intermediary bank fees may still apply. The EDGE account page separately describes “free funding and fast execution” as a feature of that account type. Read plainly, these are fee waivers on TMGM’s own charges for moving money, not a promotional credit added to a client’s balance.

The Cent Account’s rebate rounding

TMGM’s Cent Account page sets out how spread rebates are rounded: an amount such as 4 USC (0.004 USD) rounds down to zero, while 5 USC (0.005 USD) rounds up to 0.01 USD. This is a rebate mechanic tied to trading activity, not an offer a client opts into, and the rounding rule works against the client on any fractional rebate below half a cent.

Swap-free account: a grace period, then a fee

TMGM markets Classic and Edge accounts with a Swap-Free (Islamic) option. The account page for that option states new accounts get a 5-calendar-day grace period with no administration fee, after which an “overnight financing fee” applies per instrument in place of swap, ranging from $2.00 on pairs such as AUDUSD and EURUSD up to $20.00 on XAUUSD, XAGUSD and XPTUSD. A client who opens this account expecting to avoid overnight charges altogether still pays a recurring per-instrument fee once the five days run out, so the fee-free window is time-limited rather than a standing feature of the account.

TMGM’s fraud alert on unofficial offers

TMGM’s own about page publishes a fraud alert stating that it does not provide trading signals or financial advice via Telegram, WhatsApp, X or other social platforms, and that it does not authorise any Introducing Broker, affiliate or third party to give financial advice or act on its behalf on social media. Bonus and signal offers circulated by unaffiliated accounts are a common route for impersonation of a broker’s brand, and this notice is TMGM’s own statement that such offers, if encountered, are not made on its behalf.

Opening an Account

TMGM is not one company but four. Depending on which regulator’s page a prospective client lands on, the account they open sits with Trademax Australia Limited, Trademax Global Limited, Trademax Global Markets (SE) Limited, or Trademax Global Markets (International) Pty Ltd, and each carries a different licence, a different registered address, and in the Australian case a different support email. All four check out against the registers we searched: the ASIC register confirms AFS licence 436416 sits with Trademax Australia Limited (ABN 76 162 331 311, licensed since 21/05/2013); the VFSC’s Financial Dealers Licensee List confirms Trademax Global Limited under registration number 40356, licence class A, B, C, status Active, since 22 December 2022; the Seychelles FSA lists Trademax Global Markets (SE) Limited as a regulated securities dealer, though the register does not publish a licence number so TMGM’s own “SD224” cannot itself be checked against it; and the Mauritius FSC’s Online Public Register confirms Trademax Global Markets (International) Pty Ltd holds a SEC-2.1B Investment Dealer licence since 16 March 2023, again without publishing the licence number the firm quotes. We also searched 1,441 warning-list entries mirrored from CYSEC, the FCA and FSC Mauritius, and TMGM’s entities appear on none of them, though that covers only those three lists.

What TMGM asks a client to read before signing up

The Australian-facing terms page tells applicants they “should consider whether you’re part of our Target Market Determination (TMD), and read our Financial Services Guide (FSG), Product Disclosure Statement (PDS), Client Agreement, Risk Disclosure and other relevant legal documents posted on our website to ensure you fully understand the risk before you make any trading decisions.” That places the burden on the client to track down and read several separate documents rather than finding the binding terms on the page in front of them. TMGM’s Legal Documents page also lists a “Peringatan Stop Out Fully Hedged” (Fully Hedged Stop Out Warning) as its own document, separate from the general Client Agreement and standard Risk Warning Notice, suggesting stop-out mechanics for fully hedged positions are covered somewhere we did not fetch rather than on the account comparison page itself.

Minimum deposit: TMGM’s own pages disagree

TMGM’s account-types page gives $100 as the minimum deposit for both the EDGE and CLASSIC accounts, both in its hero stats and in its account-comparison table. The FAQ section on that same page states “TMGM tidak memerlukan deposit minimum” (TMGM does not require a minimum deposit), which contradicts the figure printed a few lines above it on the identical page. A general funding page we read separately gives a $50 minimum transaction limit applying to deposits across all account types, and an earlier review of TMGM put the minimum for Classic and Edge at $50 rather than $100. A prospective client reading only the FAQ, or only the earlier review, would land on a different number than the one in TMGM’s own comparison table.

The Cent Account sets its own minimum depending on funding method: $15 through local payment methods, $50 by crypto, or $100 by credit card, according to the account’s own page.

Leverage on offer depends on which page opens the account

TMGM’s Australian terms page advertises “Up to 1:30 Leverage” alongside its “$100 min Deposit” figure, and the separate Australian homepage repeats a 1:30 cap on forex trading. Most of TMGM’s other geo-localised pages advertise leverage “up to 1:1000” for the same Classic and Edge accounts. Which figure applies to a given applicant appears to depend on which entity, and which page, they open the account through.

Who TMGM will not open an account for

TMGM’s own legal page states that its products and services are not intended for residents of the United States, Malaysia, and Thailand. A separate country page repeats the same three-country exclusion. Against that general exclusion, the Cent Account’s own page restricts that specific account to clients in Brunei, Cambodia, Indonesia, Malaysia, Philippines, Thailand, Timor-Leste, Vietnam, and LATAM countries, which puts Malaysia and Thailand inside the list of countries eligible for the Cent Account specifically, despite sitting on the general exclusion list everywhere else on the site. The Cent Account’s own terms also cap what a holder can trade once the account is open: Forex major and minor pairs, Gold, Silver, Crude Oil and BTCUSD only, with exotic forex pairs, indices, shares and other cryptocurrencies unavailable on that account type, and no demo account offered for it at all.

Demo accounts before committing real funds

TMGM’s MT4 FAQ page states a demo account carries $100,000 in virtual funds, stays valid for 30 days, and that a client can open an unlimited number of them. The Australian terms page states something different for the same product: “the demo account will be deleted on the first Saturday of each month, regardless of whether there are any open orders or equities,” which describes a monthly wipe rather than a 30-day validity window tied to when the account was opened.

Deposits & Withdrawals

TMGM’s own funding page states a deposit fee of $0 against every method on its table, and a separate earlier review reports the same no-fee stance on withdrawals, with third-party bank or e-wallet charges as the only cost outside the firm’s control. Our previous review of this broker scored 4.3 out of 10 overall; this rewrite scores 7.1, driven in large part by a fees score of 9 out of 10, an assessment we make from the evidence below, not from any change at TMGM’s end.

What TMGM charges to deposit and withdraw

The firm’s fee page lists $0 against every deposit method on its table: bank wire transfer, TRC20/ERC20 crypto, a CNY local payment method, and a Southeast Asia local payment method covering IDR, MYR, VND and PHP (a second listing on the same page extends this to IDR, KHR, LAK, MYR, THB and VND). Bank wire carries the caveat “$0 + Biaya Bank Perantara”, TMGM’s own wording for intermediary bank charges that can still apply, with an estimated arrival of one to four business days and a minimum deposit of $100. Crypto deposits over TRC20 or ERC20 are shown as instant with a $50 minimum. The CNY method needs a $500 minimum and settles instantly; the Southeast Asia methods need $50 and settle either instantly or within zero to three hours, depending on which of the two listings is read. Our earlier review of the broker separately gives a flat $50 minimum transaction limit across account types, which sits below the $100 wire minimum TMGM’s own fee page states, so the figure that applies depends on the rail used.

The account-opening page itself is not consistent on this point. The firm’s UAE accounts page gives $100 as the minimum deposit for both the EDGE and CLASSIC accounts in its hero stats and its account-comparison table, but the FAQ section on that same page states “TMGM tidak memerlukan deposit minimum” (TMGM does not require a minimum deposit). A client relying only on the FAQ would not see the $100 figure the same page states elsewhere.

Cent Account minimums and withdrawal mechanics

The Cent Account carries its own, narrower minimums depending on funding route: $15 for local payment methods, $50 for crypto, and $100 for credit card, according to the firm’s UK accounts page. On the withdrawal side, the same page sets a $100 USD minimum for crypto withdrawals from a Cent Account; a balance under $100 must be withdrawn in full, and whatever deduction is applied, a minimum of $20 USD has to remain in the account afterward. That page also sets out how Cent Account rebates are rounded: 4 USC (0.004 USD) rounds down to zero, while 5 USC (0.005 USD) rounds up to 0.01 USD, so any rebate landing below half a cent is lost to the client rather than credited.

Rails and settlement times

Beyond the UAE fees page table, our earlier review of the broker lists bank wire transfer (one to three business days, suited to larger amounts), card deposits by Visa and Mastercard in USD, EUR, GBP, AUD and NZD credited instantly, e-wallets including PayPal, Skrill and Neteller credited instantly, and local bank transfers in a handful of countries, among them Australia, China and parts of Southeast Asia, pitched as a way to avoid conversion fees. The same earlier review describes withdrawals as processed through the client portal by bank wire, typically taking one to three business days, with no TMGM-side fee. TMGM’s own wire-transfer listing on the firm’s UAE fees page names a longer settlement window, one to four business days, and a wider currency list: USD, AUD, EUR, GBP, NZD, SGD, CAD, AED, CHF, DKK, FJD, HKD, NOK, PHP, SEK, THB, WST and ZAR.

Costs that sit next to funding rather than inside it

A client who opens a swap-free (Islamic) account to avoid overnight interest is not funding-cost-free once the account has run five calendar days. The firm’s UK accounts page sets out an overnight financing fee applied per instrument in place of swap, running from around $2.00 on pairs such as AUDUSD and EURUSD up to $20.00 on XAUUSD, XAGUSD and XPTUSD, with non-USD accounts converted at the prevailing USD rate. New accounts get a five-day grace period before this fee starts, but it then recurs for as long as a position stays open, which is a real drag on what a swap-free client keeps even though it never appears on the deposit or withdrawal tables themselves.

Which entity’s terms actually apply

TMGM operates under four separately regulated entities, confirmed against their respective registers: Trademax Australia Limited under AFSL 436416 on the ASIC register, Trademax Global Limited under VFSC registration 40356, Trademax Global Markets (SE) Limited under Seychelles FSA licence SD224, and Trademax Global Markets (International) Pty Ltd under FSC Mauritius licence GB22201012. Which of these four onboards a given client determines which funding page, minimum, and support address actually applies; the ASIC entity uses support@tmgm.com.au while the other three use support@tmgm.com, and the fee and minimum figures above come from a single geo-localised fee page rather than from all four entities at once. A search of 1,441 warning-list entries mirrored from the CYSEC, FCA and FSC Mauritius lists returned no match for TMGM, which is a clean result on the lists we checked, not a clearance from every regulator worldwide.

Customer Support

TMGM’s contact channels split by which of its four regulated entities holds the account, and the fetched pages show that split creates real inconsistencies rather than a single unified support desk.

How to reach TMGM

The Australian entity, Trademax Australia Limited, lists support@tmgm.com.au and a phone number of +61 2 8036 8388 on its terms page. The Vanuatu, Seychelles and Mauritius entities share a single address, support@tmgm.com, per the Indonesian about page. TMGM’s contact page lists four Australian offices, Sydney (Level 28, One International Tower, 100 Barangaroo Avenue), Melbourne (Level 30 North Tower, 525 Collins Street), Adelaide (Level 10, 45 Pirie St) and Canberra (Level 2, 103 Northbourne Avenue Turner), all reachable on the same +61 2 8036 8388 number, plus a Vanuatu office (Stade Building, Ave Du Stade, Port Vila) on +678 25004. Each of the four licensed entities also has its own separate registered address on file: Sydney for the ASIC entity, Port Vila for the VFSC entity, Mahe for the Seychelles entity, and Port Louis (care of IQ EQ Fund Services) for the Mauritius entity.

Which TMGM answers depends on where the account sits

Because TMGM operates as four separately licensed companies under one brand, which entity a client actually contracted with determines both the support inbox and, more importantly, which regulator has jurisdiction over a complaint. A client onboarded through the ASIC entity writes to support@tmgm.com.au and falls under Australian rules; a client on the Vanuatu, Seychelles or Mauritius entity writes to the shared support@tmgm.com address and falls under that entity’s regulator instead. Nothing in the pages we fetched flags this distinction to a client at sign up beyond the entity’s own terms page, so the branding gives no obvious signal of which company, and which complaint route, actually applies.

What the help center offers before a human gets involved

The Indonesian language contact page’s help center prompts a stuck user with “Masih Butuh Bantuan?” and directs them to “Kirim email kepada kami untuk membuat tiket dukungan”, meaning email support is run as a ticketing queue rather than a live queue on that page. An earlier review of TMGM reported that live chat is also available directly from the website, with an average response time under two minutes, but we did not independently confirm that response time on any of the pages we fetched, so it stands as the earlier review’s figure, not TMGM’s own.

A page that undercuts its own multilingual claim

TMGM’s contact page carries a rotating customer service graphic with speech bubble greetings in Spanish, Chinese and English. One of those bubbles still shows Latin placeholder filler instead of translated copy. That is a small thing on its own, but it sits on the exact page meant to demonstrate multilingual support, and it is worth a client’s caution before assuming every language option on the site has been fully built out.

Scam awareness as a support function

TMGM publishes a fraud alert stating it does not provide trading signals or financial advice via Telegram, WhatsApp, X or other social platforms, and that it does not authorise any introducing broker, affiliate or third party to give advice or act on its behalf on social media. Publishing that warning at all suggests the firm has had to respond to impersonation using its name, which matters to anyone contacted about a TMGM account through an unofficial channel rather than through the addresses and offices listed above.

The terms that shape a complaint once it is filed

Trademax Australia Limited’s own disclaimer puts the burden of understanding the relationship on the client before any dispute starts: “You should consider whether you’re part of our Target Market Determination (TMD), and read our Financial Services Guide (FSG), Product Disclosure Statement (PDS), Client Agreement, Risk Disclosure and other relevant legal documents posted on our website to ensure you fully understand the risk before you make any trading decisions.” None of those documents are reproduced on the terms page itself, so a client has to track them down separately before knowing what they actually agreed to. Separately, the legal documents page for the Australian entity lists a “Peringatan Stop Out Fully Hedged” as its own distinct document, sitting apart from the general Client Agreement and standard Risk Warning Notice, meaning a client with fully hedged positions who wants to know how stop out actually applies to them has a fourth document to locate rather than an answer on the account comparison page.

Prohibited Countries

TMGM’s own legal pages carry a standing exclusion. The Terms and Conditions page for the United Arab Emirates states that “Products and Services offered on this website are not intended for residents of the United States, Malaysia, and Thailand.” TMGM’s Australian homepage carries a similar disclaimer from the Trademax Australia Limited side: it states that the information and advertising on that page is not directed to investors other than Australian residents, and that products and services are not intended for residents of the United States.

Which TMGM entity excludes whom

TMGM is not one company but four, and the exclusion above sits underneath that structure rather than replacing it. Trademax Australia Limited holds AFSL No. 436416 from the Australian Securities and Investments Commission (ASIC), confirmed on the ASIC register against ABN 76 162 331 311. Trademax Global Limited holds registration number 40356 with the Vanuatu Financial Services Commission (VFSC), confirmed as licence class A, B, C and status Active on the VFSC Financial Dealers Licensee List. Trademax Global Markets (SE) Limited is listed by the Financial Services Authority (FSA) of Seychelles as a regulated securities dealer trading as TMGM. Trademax Global Markets (International) Pty Ltd holds SEC-2.1B Investment Dealer status on the Financial Services Commission, Mauritius (FSC) Online Public Register. Each entity has its own registered address, in Sydney, Port Vila, Mahe and Port Louis respectively, and the Australia entity uses a separate support address, support@tmgm.com.au, from the support@tmgm.com used for the other three. Which country a prospective client can trade from, and which regulator stands behind that account, depends on which of these four entities takes them on, not on the shared TMGM branding.

The Cent Account carves out an exception to TMGM’s own exclusion list

The account terms for TMGM’s Cent Account state that it is restricted to clients in Brunei, Cambodia, Indonesia, Malaysia, Philippines, Thailand, Timor-Leste, Vietnam and LATAM countries. That list places Malaysia and Thailand inside the group of countries TMGM will onboard for this specific account type, at the same time as the firm’s own Vietnam, UAE and Australia pages state that residents of Malaysia and Thailand are not an intended market for the site’s products and services generally. The pages we fetched do not reconcile the two statements; we report both as the firm’s own pages state them rather than guessing which one governs a given applicant. The Cent Account terms carry their own further limits regardless of country: it runs on MT5 only, has no demo account, and its tradable instruments are confined to Forex majors and minors, Gold, Silver, Crude Oil and BTCUSD, with exotic forex pairs, indices, shares and other cryptocurrencies unavailable on it.

What the warning-list search showed

We searched 1441 warning-list entries mirrored from the CySEC, FCA and FSC Mauritius blacklists and TMGM matches none of them. That is a clean result on the three lists we mirror; it does not cover every regulator worldwide, and it says nothing about the site’s own country exclusions above, which are a separate, self-imposed restriction rather than a regulatory bar.

A leverage term that shifts by jurisdiction

The Australian-facing terms page states leverage of “up to 1:30” with a $100 minimum deposit for the ASIC entity, Trademax Australia Limited, while the general account pages and most other geo-localised pages advertise leverage up to 1:1000 with a $50 or $100 minimum deposit depending on the page. This is consistent with the lower leverage cap that applies to ASIC-regulated retail accounts specifically, and it means an Australian resident onboarded through the ASIC entity is trading under materially different leverage terms than a client onboarded through the Vanuatu, Seychelles or Mauritius entity, even though both see the TMGM name.

Conclusion

TMGM scores 7.1 out of 10 in this review, up from the 4.3 we gave it previously. That move is ours, not TMGM’s: this pass ran direct register checks against ASIC, the VFSC, the Seychelles FSA and the FSC Mauritius, and read the firm’s own fee and account pages rather than relying on a summary of them. The higher figure reflects what those checks turned up, not any change at the firm itself.

TMGM’s four regulators, checked one by one

TMGM is not one licensed entity but four. The ASIC register confirms AFS licence 436416 is held by Trademax Australia Limited, ABN 76 162 331 311, since 21/05/2013. Separately, the ASIC Company Dataset snapshot of 2026-09-21 confirms Trademax Australia Limited as a registered Australian public company under that same ABN, though that dataset is a company register, not a licensing one, so it confirms the entity and not a permission. The VFSC’s Financial Dealers Licensee List confirms Trademax Global Limited under company number 40356, licence classes A, B and C, status Active, licensed since 22 December 2022; the VFSC does not publish what those licence classes cover, so we report them as the register states them, nothing more. The Seychelles FSA lists Trademax Global Markets (SE) Limited, trading as TMGM, as a regulated securities dealer, but the Seychelles register does not publish licence numbers, so the “SD224” TMGM quotes is confirmed only as far as the entity and its status, not that specific number. The FSC Mauritius Online Public Register confirms Trademax Global Markets (International) Pty Ltd holds an SEC-2.1B Investment Dealer licence, dated 16/03/2023; again the register gives the licence type and date but not a number, so “GB22201012” is the firm’s own figure rather than a register-verified one. We also ran TMGM’s name against 1,441 warning-list entries mirrored from CYSEC, the FCA and FSC Mauritius, and it matched none of them.

Four confirmed regulators is a real finding, but it comes with a catch worth stating plainly: TMGM’s own Australian-facing terms page advertises leverage of “Up to 1:30” with a $100 minimum deposit, while most of its other geo-targeted pages advertise leverage up to 1:1000. A client’s actual protections, and how much they can gear a position, turn on which of the four entities and which page onboarded them, not on the single “TMGM” brand shown across the site.

What TMGM charges

TMGM’s own funding page lists a $0 deposit fee across every payment method on its table, and an earlier version of this review reported that TMGM also charges nothing on withdrawals, with only third-party bank or e-wallet charges falling outside its control. TMGM’s account page gives the Edge account’s own commission as $7 per round turn on forex and $5 per round turn on metals, with spreads from 0.0 pips, against the Classic account’s spread from 1.0 pips and no separate commission. Bank wire transfers carry no TMGM fee but a stated minimum deposit of $100 and intermediary bank charges may apply; several local payment routes for Southeast Asian and Chinese clients also show as fee-free with faster settlement. Against that, the same account page contradicts itself in its own FAQ, which states TMGM requires no minimum deposit at all, while the hero stats and comparison table on that identical page set a $100 minimum for both Edge and Classic. A reader relying on the FAQ alone would be wrong about what it takes to open an account.

Platform and support

TMGM’s own platform pages describe MetaTrader 5 as its flagship platform, with more than 80 technical indicators, 21 timeframes, and add-ons for VPS hosting, Trading Central integration and multi-terminal use, alongside MetaTrader 4 and a separate, TMGM-branded mobile app built on TradingView’s charting technology that adds copy trading, one-click trading, two-factor authentication and facial-recognition login. For support, TMGM’s contact page lists four Australian offices, in Sydney, Melbourne, Adelaide and Canberra, sharing one phone number, plus a Vanuatu office with its own number, and separate support email addresses depending on entity: support@tmgm.com.au for the ASIC-regulated business, support@tmgm.com for the rest. That same contact page also carries a rotating multilingual greeting graphic in which one speech bubble still shows Latin placeholder filler rather than translated copy, which is the kind of detail worth flagging to a reader deciding how much polish to expect from the rest of the site.

Why the reviews score sits at 5.9

Beyond the leverage mismatch and the minimum-deposit contradiction, TMGM’s own pages disagree on other basic figures: its MetaTrader 5 page states $490 billion in platform trading volume while its About page separately states 2,045BN+ for total volume, and its Australian terms page states demo accounts are wiped every first Saturday of the month regardless of open positions, while a separate FAQ page says demo accounts stay valid for 30 days. Some of TMGM’s own localized pages also show the domain tmgm-market.com rather than tmgm.com. None of this touches the confirmed licences or the clean warning-list result, but it is the kind of inconsistency across a firm’s own published material that a reader checking TMGM’s claims against each other would run into directly, and it is why the reviews score sits below the fee and platform scores rather than alongside them.

TMGM holds four confirmed regulatory licences, including AFSL 436416 with ASIC, charges no deposit fee and modest per-lot commissions on its Edge account, and runs MT4, MT5 and its own TradingView-based app, all against a set of self-published pages that disagree with each other on leverage, minimum deposit and demo account rules; TrueBroker scores it 7.1 out of 10.

FAQ