TMGM Review 2026

TMGM Review: the short version

TMGM – formerly TradeMax – has been operating since 2013 and is one of the few brokers AFM covers whose group is headed by a genuine top-tier licence. Trademax Australia Limited, trading as TMGM, holds AFSL 436416 from the Australian Securities and Investments Commission and operates from Level 28, One International Tower, Barangaroo, Sydney.

The trading side is straightforward and competitive: two live accounts, a $100 minimum, spreads from 0.0 pips on EDGE, commission-free trading from 1.0 pips on CLASSIC, MT4 and MT5, Expert Advisors and Islamic accounts on both.

Before going further, one thing has to be said plainly. TMGM’s own website states that the products and services it offers “are not intended for residents of the United States, Malaysia, and Thailand”. Malaysia and Thailand are core markets for this site’s readership. If you are in either, TMGM is not available to you and the rest of this review will not change that.

What is TMGM?

TMGM is a CFD broker offering forex, precious metals, gold, cryptocurrencies, shares, indices and oil. Its account page advertises access to over 100 instruments – a deliberately focused range rather than the thousands some competitors list.

It has built a strong presence across the Asia-Pacific region, with sponsorship and marketing visibility that outstrips its size, and it maintains a real Australian operation rather than a nameplate. That combination – Australian licence, regional focus – is the reason it appears in AFM’s broker shortlist.

The trade-off for the focused instrument range is that TMGM is a forex-and-CFD specialist. If you want thousands of real equities, Interactive Brokers or Saxo are different products entirely.

TMGM regulation: four entities, one of them top-tier

TMGM publishes its entity structure in full, which is to its credit. The four companies:

• Trademax Australia Limited – regulated by ASIC, AFSL 436416. Level 28, One International Tower, 100 Barangaroo Avenue, Sydney NSW 2000.
• Trademax Global Limited – Vanuatu Financial Services Commission, registration number 40356, Port Vila, Vanuatu.
• Trademax Global Markets (SE) Limited – Seychelles Financial Services Authority, licence SD224, Mahe, Seychelles.
• Trademax Global Markets (International) Pty Ltd – Financial Services Commission, Mauritius, licence GB22201012, Port Louis.

The ASIC licence is real and meaningful – but it covers the Australian entity. The 1:1000 leverage TMGM advertises is itself the clue: ASIC caps retail forex leverage at 1:30, so an account offering 1:1000 is not an ASIC-regulated retail account. Southeast Asian clients will be onboarded by Vanuatu, Seychelles or Mauritius.

That is not unusual and it is not hidden. But “TMGM is ASIC regulated” is a statement about the group, not about your account, and the protections differ substantially between the two.

TMGM account types

TMGM keeps it to two live accounts, both with a $100 minimum and both allowing Expert Advisors and an Islamic swap-free option.

EDGE is the raw-spread account: spreads from 0.0 pips, leverage up to 1:1000, and what TMGM describes as free funding and fast execution. It charges commission, though the per-lot figure is not stated on the account-types page – look it up before you fund it, because a 0.0-pip spread tells you nothing about total cost on its own.

CLASSIC is the commission-free account: spreads from 1.0 pips, same 1:1000 leverage cap, same EA and Islamic support.

The decision is the usual one. If you trade meaningful volume, EDGE plus commission almost always beats 1.0 pips all-in. If you trade rarely or in small size, CLASSIC removes a calculation. At 1.0 pips, CLASSIC is priced roughly in line with XM‘s Standard account and behind its Ultra Low.

TMGM trading platforms

TMGM’s platform navigation lists MetaTrader 4, MetaTrader 5 and the TMGM app, plus a trading calculator.

Both MetaTrader generations support Expert Advisors, and TMGM confirms EA compatibility on both account types – so an algorithmic strategy transfers without modification. MT5 is the better default for a new account given TMGM’s share and index CFDs.

A note on IRESS. The previous version of this review featured IRESS as a TMGM platform, and it was historically offered for share CFD trading. We found no IRESS reference in TMGM’s current platform navigation. Rather than assert that it has been withdrawn, we have simply removed the claim – if IRESS is what you want from TMGM, confirm it is still available before opening an account.

There is no cTrader and no TradingView integration.

Where TMGM is and is not available

This deserves its own section because it changes whether the rest of the review applies to you.

TMGM’s website states: “The Products and Services offered on this website are not intended for residents of the United States, Malaysia, and Thailand.”

Malaysia and Thailand are two of the largest markets for retail forex in Southeast Asia and a substantial share of this site’s readers. If you are resident in either, TMGM is not an option, and no review, comparison table or promotional link changes that.

For readers in Singapore, the Philippines, Indonesia, Vietnam and elsewhere in the region, TMGM is available – through one of the offshore entities rather than the Australian one. Confirm which company your client agreement names before depositing.

Customer support

TMGM publishes a direct phone line (+61 2 8036 8388) alongside email support at support@tmgm.com, with region-specific addresses for the Australian entity. A published phone number is worth more than it sounds – several brokers in this comparison offer chat only.

Support is available in multiple regional languages, and the site localises to the reader’s market by default. TMGM also runs an academy section with articles, courses and webinars.

Who TMGM suits

TMGM makes sense if you want a broker whose parent holds a genuine ASIC licence and a real Australian office; you want 0.0-pip spreads at a $100 entry; you run Expert Advisors on MT4 or MT5; or you want a swap-free Islamic account as standard rather than by request.

Look elsewhere if you are resident in Malaysia or Thailand, where TMGM states its services are not intended for you; you want a wide instrument range beyond roughly 100; or you specifically want cTrader or TradingView.

How TMGM compares

TMGM sits between the ASIC-regulated majors and the offshore volume players. Against IC Markets and Pepperstone it is a similar Australian-licensed proposition with a narrower instrument range and a higher minimum. Against Exness and XM, TMGM’s group carries a materially stronger lead regulator, but it will not take a $5 or $10 deposit and it excludes two significant regional markets.

Conclusion: is TMGM worth it?

TMGM scores 8.1, the highest of the offshore-onboarding brokers in this set, and the ASIC licence at the head of the group is the reason. A real Australian office, a decade of operation, 0.0-pip spreads from a $100 minimum and full MetaTrader support is a genuinely good package.

The score is not higher because of the entity gap – a 1:1000 account is not an ASIC account, and most regional clients will be with Vanuatu, Seychelles or Mauritius – and because the EDGE commission is not published where you can compare it.

And it is worth repeating: TMGM’s own site excludes residents of Malaysia and Thailand. For everyone else in the region it is a strong, credible option.

1. TMGM account types, spreads and leverage — www.tmgm.com/en/trading/account-types (checked September 2026)
2. TMGM trading conditions — www.tmgm.com/en/trading/trading-conditions (checked September 2026)