Score: Very good

  • Fast execution speeds and competitive spreads
  • Access provided to the MT4, MT5 and IRESS platforms
  • High levels of customer protection and account safety

Ruben Wunderlich

Review from

Ruben Wunderlich
Score: Very good
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Investing in CFDs and Margin FX Contracts carries significant risks and is not suitable for all investors. You may lose more than your initial deposit

About TMGM

Although Australia hasn’t traditionally been a market leader when it comes to fintech and online brokerages, new online brokers such as TMGM are gradually changing this. In the online trading and investment space, brokers, as exemplified by TMGM, are helping to put Australia on the map.

First established in 2013 with a view to providing a one-stop-shop solution for forex and CFD trading, TMGM spent years heavily investing in R&D and product development. After a number of years building up a sizeable client base in Australia, it eventually expanded into a number of new offices across the country, eventually opening its first overseas office in 2018. From here, TMGM has gone from strength-to-strength, and it is now one of the biggest trading destinations online in the Australasian and Asia-Pacific regions. Although TMGM’s roots are Australian, it is very much a global broker, with operations now launched across the EMEA region and beyond — currently, TMGM boasts a presence in over 200 countries.

TMGM is an Electronic Communications Network (ECN) broker, which means that, unlike a Straight Through Processing (STP) broker, it matches the requested buy and sell orders to the best available price from several market participants. Through this network, TMGM offers forex currency trading, as well as CFDs on a range of financial instruments such as metals, indices and commodities. With extremely quick execution speeds and deep market liquidity through the ECN network, TMGM offers an all-round solid trading experience that more than keeps pace with its direct competitors. While not driving innovation forward in any one particular area or feature set, TMGM sticks to a familiar formula and executes it well.

How does TMGM compare to the rest of the competition out there? Does it offer a package that is well polished and original enough to justify entrusting it with your hard-earned cash? Or are there simply better platforms out there? The answers to these questions and many more will be covered in detail in this comprehensive TMGM broker review.

Products and Trade Offers

In terms of what TMGM has to offer clients who sign up for an account, the package put together is very much industry standard. The firm has a focus on providing competitive spreads and fast execution speeds of trades, which in turn create very favourable trading conditions. Additionally, it has over 15,000 trading instruments across a number of markets, meaning that you will be able to keep your trading and investment portfolio well-diversified when using the platform. This includes 60+ currency pairs, commodities, indices, over 15,000 stocks through the NYSE, Nasdaq, Australian Securities Exchange and the Hong Kong Stock Exchange.

For its global customers, TMGM provides two main account types — an ‘Edge’ account, and a ‘Classic’ account. If you aren’t sure what type of account suits your needs best, TMGM provides a useful assessment tool that allows you to input information on your trading habits and strategies. Depending on how you answer these questions, TMGM will suggest an account type for you. Generally speaking, the Edge account is aimed at the more casual trader. Customers can avail of leverage up to 1:30 on both the Edge and Classic accounts though leverage on some assets is capped at much lower levels.

The spreads on offer differ depending on what type of account you have. Global clients see spreads from 0.0 pips for the Edge account, and from 1.0 pips for the Classic account.

Beyond the trading conditions, TMGM has a number of extra features, which add to the overall trading experience. For example, dedicated account managers ensure the customer service is that little bit more attentive, while the VIP Desk allows you to tailor your trading account as your portfolio grows and your trading strategy changes. Additionally, there are also VPS (Virtual Private Servers) and MAMM facilities for users of the platforms acting as a money manager or who are running a private fund.

Clients are also given access to the MetaTrader 4, MetaTrader 5 and the IRESS trading platforms, which provide some of the most cutting-edge technology in this space.

  • Access to both the MetaTrader 4 and MetaTrader 5 platforms
  • Incredibly fast execution speeds of <30 MS
  • High levels of customer protection
  • Over 15,000 trading instruments
  • Access to VIP Money Manager for Pro accounts
  • Only regulated by two regulators
  • The mobile app offering could be better
  • Somewhat limited funding options

Commissions and Fee Charges

In terms of the fees, charges and commissions you will have to pay, this will depend entirely on what type of account you have as well as where you are located.

As mentioned, with TMGM’s Edge account, spreads on trades start from 0.0 pips, with a minimum lot size of 0.01 lot. You will, however, have to pay a commission of $3.5 per lot, which works out at a $7 round turn. In contrast, the Classic account has spreads starting from 1.0 pips with a minimum lot size of 0.01 lot. However, you will not have to pay any additional commissions on each lot.

Beyond the commissions on trades, TMGM is very competitive when it comes to additional account fees. As of writing, TMGM does not charge clients any additional funding fees or withdrawal fees, which applies to both the Edge and Classic accounts. Users should note, however, that your account may be subject to an account maintenance fees if your account balance falls below $100 or if it remains inactive for over six months.

What Others Say

Having been in continuous operation since 2013, there are a large number of reviews online about TMGM. In the course of writing this TMGM broker review, we looked at a large number of these reviews from both professional review sites and user reviews in order to get a sense of how TMGM has been received.

In terms of the customer reviews we looked at, the feedback was good overall. The average rating by customers seemed to hover around the four out of five-star mark, with the positive reviews mentioning the fast withdrawal and deposit speeds, the attentive customer support team and the quick execution speed. Additionally, the customer reviews mentioned the generally favourable trading conditions on offer, in particular the competitive spreads.

In terms of the industry reviews by professional traders, review websites, and other industry publications, TMGM tended to fare similarly well. Although we didn’t come across any perfect five-star reviews in the course of researching this TMGM review, the majority seemed to fall in the three or four out of five-star range., for example, praised TMGM for the overall safety and security of the website, which offers a high level of customer protection as well as the risk management strategy it has in place to protect customer accounts.

The other platform reviews we read while conducting the research for this review gave TMGM praise for the quick execution speeds and generally favourable trading conditions. In particular, these included the competitive spreads on offer and the diversity of instruments to trade. The provision of the MetaTrader 5 platform was also noted as a positive.

Customer Service

Although it is often overlooked by individuals when they are looking for a new platform to sign up to, the level of customer support is one of the best signs of the quality and performance of a platform. As such, when you are looking to choose a new platform to trade with, it is always important to make sure that it has a professional customer service team who are readily contactable should you need them.

The customer support team is contactable via email, direct phone line or a live-chat feature on the website 24 hours a day, five days a week. We were also particularly impressed that several different contact options are provided depending on the nature of your query. This allows you to direct your question to the most appropriate member of the customer support team depending on whether your issue relates to a technical issue, your individual account, or if it is a more general query. This is great to see as it speeds up the process of getting customer support. If you do want to phone the team directly with a general query, they can be reached at +61 2 8036 8388.

Platform Features and Tools

As with many of the other major online brokers out there, signing up for an account with TMGM gives you access to the industry-leading MetaTrader 4 (MT4) platform. MT4 is by far the most popular trading platform among both professional and amateur traders and has garnered numerous industry awards since first being released. MT4 is the trading tool of choice for hundreds of thousands of traders across the world and is preferred for its wide array of trading tools. These include live price feeds, technical charts, analytical tools, charting tools and a news feed that updates you with the latest financial news within the software itself. The balance between pure functionality and customisability has made the MT4 platform by far the most popular trading tool around. In addition, the broker is also provides users with the option to upgrade to the MetaTrader 5 (MT5) platform. Signing up for a trading account with TMGM gives you access to the desktop, web browser and mobile versions of MT4 and MT5. The desktop version comes in both Mac OS and Windows variations and in our experience is very stable on both.

In addition to the suite of MetaTrader apps, the broker gives all users access to the IRESS platform. The IRESS Viewpoint trading platform is an institutional-grade trading platform that delivers many of the institutional-grade trading tools to retail traders.

Mobile Trading

As mentioned earlier in this TMGM broker review, your trading account gives you access to the full suite of MT4 apps. For those day traders looking to trade on the go, this also includes the mobile version of the app. Compatible with both iOS and Android devices, the MT4 mobile app gives you full control of your account as well as the ability to place any type of trading order on the go. There are mobile versions of the MT4 and MT5 platforms available on both Android and iOS devices.

The main difference with the mobile version relates to some of the graphing and analysis options, which are obviously more limited due to the smaller screen space on mobile devices. Having said that, the mobile app offers as much usability as you can realistically expect for a mobile device. This means that you can have access to a full-featured trading experience no matter where you are located, as long as you have a stable internet connection.

Robo Trading

Although the TMGM platform isn’t built around social and copy trading in the same way that some of the other bigger platforms are, TMGM nevertheless provides a lot of support for robo trading. This is mainly through the MT4 and MT5 platforms, which support a variety of automated trading features. In particular, TMGM specifically advertises itself as fully supporting the use of EAs — or Expert Advisors — which is good to see. EAs are a great tool for both newer and more experienced traders and can bring some serious efficiency gains to your research and strategy development. As such, it’s great to see TMGM supporting their use on the platform.

Research and Learning Section

In addition to all the technical features on offer, TMGM also gives users access to various education and learning resources. Although primarily aimed at the novice and intermediate crowd, no matter what your experience level is, there will be something in here for you. From lectures and webinars to private classes and eBooks, there is something for all experience levels. While the lectures and webinars might be more suited to beginners, the private 1v1 VIP classes are a great resource for intermediate to advanced traders looking to take their skills to the next level. These classes are completely customised to your needs and learning style and will help you to improve your technical skills and trading strategies.

For those of you just getting started with online trading, TMGM has made a fairly comprehensive library of articles and lectures available on the website. These cover all the core topics such as fundamental analysis, technical analysis, the different types of financial instruments and trading products, as well as overviews of basic trading strategies. Generally speaking, this material is really high quality, which speaks to the level of effort that the broker has put into producing it.

Regulatory Details

If you want the full information about how TMGM is licensed and regulated, simply navigate to the ‘Company’ tab in the dropdown menu on the homepage. From there, click on the ‘Regulatory Supervision’ tab, which contains a full breakdown of its regulatory information. TMGM should be credited for making this information so easy to find, as this is not always the case, even with some of the bigger online brokers.

Currently, TMGM is licensed and regulated under a number of different jurisdictions. It falls under both the authority of the Australian Securities and Investments Commission (ASIC) and the Vanuatu Financial Services Commission (VFSC). While not too much is known about VFSC, ASIC is one of the leading financial regulators. You can view its profile with ASIC online.

In addition, TMGM has in place an external auditing procedure that ensures that it adheres to all the customer protection regulations required under the terms of its licence. Customer accounts are also protected by being held in an Australian authorised deposit-taking institution (ADI), which has an AA rating — in this case, the National Australia Bank. It’s always important to check the T&Cs, but the broker claims it has insurance schemes in place that protect customer accounts up to a value of AUD $5m.

Under the terms of these licences, TMGM currently services clients in Australia, Canada, the EU, France, GCC, India, South Africa, Southeast Asia and the UK.


Score: Very good
Investing in CFDs and Margin FX Contracts carries significant risks and is not suitable for all investors. You may lose more than your initial deposit

Over the course of this TMGM review, we hope to have given you a comprehensive overview of everything that this broker has to offer. But how does it stack up when compared to some of the other brokers referenced in this review?

Overall, the broker has put together a very impressive package. It’s impossible to avoid market risk, the chance that price moves against you, but TMGM has put in place some of the most stringent and comprehensive customer protection measures we have seen, which shows just how seriously it is taking its licensing obligations. Additionally, the level of customer support on offer is really impressive and reviews online seem really positive.

In terms of the trading conditions on offer and the trading platform itself, once again TMGM performs well all-round. The execution speeds are incredibly fast and the spreads on offer are competitive with the industry averages across both the Edge and Classic account types. The trading experience TMGM delivers compared very favourably to even the biggest online brokerages out there and it’s great to see support provided for the MetaTrader 5 platform. With that said, the package put together by TMGM is an all-round solid performer and should more than meet the needs of most intermediate and advanced traders.


Investing in CFDs and Margin FX Contracts carries significant risks and is not suitable for all investors. You may lose more than your initial deposit