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Written by: Krisztián G. Updated: Dec 2022
Expert verified
Recommended for
  • forex trading
Trusted broker
Regulated by top-tier financial authorities
Popularity
925 people chose this broker in the last 6 months
BrokerChooser Score
4.3/5

TMGM review summary

Australian TMGM is a good choice if you are content with CFD/forex trading only and prefer MetaTrader platforms. It has a very strong selection of stock CFDs and a decent offering of forex pairs and stock index CFDs, all at low fees. It’s easy to open and fund your account, and the $100 minimum deposit is reasonable. Still, the lack of assets outside forex, CFDs and crypto will likely deter long-term investors, and the MetaTrader platform is not everyone’s favorite thanks to poor design and limited functionality. Casual traders will be stung by a steep inactivity fee that kicks in after six months or if your account balance is too low.

TMGM falls under high-quality regulation from the financial authorities of Australia and New Zealand, among others.

You can't open an account at TMGM if you live in United States. See the best alternative available in your country.

TMGM pros and cons

Pros Cons
Low forex fees Slim product portfolio
Easy and fast account opening Limited research and educational tools
Free deposit and withdrawal Inactivity fee

TMGM main highlights

🗺️ Country of regulation Australia, Vanuatu, New Zealand
💰 Trading fees class Low
💰 Inactivity fee charged Yes
💰 Withdrawal fee amount $0
💰 Minimum deposit $100
🕖 Time to open an account 1 day
💳 Deposit with bank card Available
👛 Depositing with electronic wallet Available
💱 Number of base currencies supported 6
🎮 Demo account provided Yes
🛍️ Products offered Forex, CFD, Crypto
To read much more details about the broker's services and features, expand on the sections below.

TMGM review
Fees

4.4
TMGM has low forex and CFD fees. While TMGM doesn't charge a fee for withdrawals, there's an inactivity fee if you don't trade for more than six months.
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TMGM review
Account opening

5.0
The account opening process at TMGM is user-friendly and fully digital. It was also very quick, as our account was approved within a day.
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TMGM review
Deposit and withdrawal

4.3
TMGM's depositing and withdrawal services are great. Many options are available for moving your money in and out, and they are free of charge.
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TMGM review
Web trading platform

2.8
TMGM uses the MetaTrader web trading platform. It is highly customizable and has a clear fee report, but its design is outdated and it lacks a two-step login and price alerts.
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TMGM review
Mobile trading platform

3.8
TMGM has a great mobile trading platform, provided by MetaTrader 4. It is well-designed and user-friendly, but lacks a more secure login.
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TMGM review
Desktop trading platform

3.4
In design and functionality, TMGM's MetaTrader 4 desktop platform is almost the same as the web trading platform. One major difference is that you can set price alerts.
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TMGM review
Markets and products

2.2
At TMGM, you can trade only forex, CFDs and cryptos. This means that many popular asset classes, like real stocks and ETFs, are not available.
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TMGM review
Research

4.0
TMGM has user-friendly research tools, from trading ideas to an upgraded newsfeed. As a plus, there is a good economic calendar.
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TMGM review
Customer service

5.0
TMGM has great phone, email and live chat support., which is accessible 24/7.
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TMGM review
Education

3.0
TMGM provides quality educational texts, webinars and you can use a demo account. On the other hand, there are no tutorial videos and general educational videos.
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TMGM review
Safety

TMGM is regulated by several financial authorities, including the top-tier ASIC. On the negative side, there is no investor protection, although TMGM does provide AUD 2.5 million single insurance coverage.
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TMGM review
Bottom line

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TMGM review
FAQ

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Author of this review

Krisztián Gátonyi

Author of this review

Krisztián has 15 years of experience in proprietary trading, mainly in the interbank currency market as a foreign exchange risk manager. He received his MSc degree in International Business from the University of Middlesex. He is interested also in real estate and dividend growth investing. His purpose is to help people find the best investment provider.

Krisztián Gátonyi

Senior Broker Expert

Krisztián has 15 years of experience in proprietary trading, mainly in the interbank currency market as a foreign exchange risk manager. He received his MSc degree in International Business from the University of Middlesex. He is interested also in real estate and dividend growth investing. His purpose is to help people find the best investment provider.

Everything you find on BrokerChooser is based on reliable data and unbiased information. We combine our 10+ years finance experience with readers feedback. Read more about our methodology

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