Trademax Global Markets (TMGM), which was established in 2013, holds regulatory licenses with the Financial Markets Authority (FMA) in New Zealand and the Australian Securities and Investment Commission (ASIC) in Australia. In Vanuatu, the Vanuatu Financial Services Commission (VFSC) has also granted TMGM permission.

Despite falling short of the top brokers in most categories, TMGM stands out for having an impressive set of educational resources. Through the MetaTrader 4 (MT4) platform, TMGM provides a constrained selection of markets. Although it is primarily a MetaTrader broker, it also provides access to the more exclusive IRESS platform, though there are restrictions on who can use it due to the platform’s requirements.

TMGM Trading Instruments

Through its MetaTrader platform, TMGM offers access to dozens of forex pairs and CFDs across all of its brands that are governed in Australia, New Zealand, and Vanuatu. On its IRESS trading platform, certain clients have additional access to share trading.

Cryptocurrency: CFDs on 12 cryptocurrency pairs, including bitcoin, ethereum, link, uniswap, and other well-known crypto assets, are available against the U.S. dollar.

• Forex Trading (Spot or CFDs) Yes
• Tradeable Symbols (Total) 12000
• Forex Pairs (Total) 62
• U.S. Stock Trading (Non CFD) No
• Int’l Stock Trading (Non CFD) No
• Social Trading / Copy Trading Yes
• Cryptocurrency (Physical) No
• Cryptocurrency (CFD) Yes
  
  

Fees and commissions

With minimal spreads and no requotes, TMGM’s Edge account offers competitive commission rates.

Account types: The spread-only Classic account or the commission-based Edge account will have different trading costs at TMGM. The Edge account would be my preference because it has low prevailing spreads and only levies a small commission of $3.50 per side ($7 round trip).

Swap-free accounts are not available with the Classic option, so Islamic finance customers looking for Sharia-compliant accounts must select the Edge account.

Apps for mobile and trading platform

With no available proprietary mobile app, TMGM lags behind market leaders like IG and Saxo Bank. Read our guide to the Best Forex Trading Apps for our top recommendations for trading apps.

Overview of apps: Since TMGM is a MetaTrader-only broker, the MT4 app is pre-installed on iOS and Android devices and can be downloaded from the respective Apple App Store and Android Play store. For forex trading, TMGM primarily provides the MT4 mobile app, but it also provides the IRESS mobile app, which includes all of its CFDs. The MT4 app from TMGM was the main focus of this review.

The main focus of TMGM is as a MetaTrader broker, providing the default MT4 experience. Sadly, there aren’t any noteworthy add-ons that would make TMGM stand out from the best MetaTrader brokers. Although it is anticipated that TMGM will make MetaTrader 5 (MT5) available at some point in 2022, it is not yet.

Overview of platforms: The MT4 desktop platform is provided by TMGM as an installable file once you open a live or demo account. It is available for the macOS and Windows operating systems directly from the developer. The IRESS platform is not designed for forex trading; rather, it is primarily for share trading.

Charting: MT4 has a reputation for providing reliable charts with flexible functionality. On MT4, it’s simple to zoom in and out and rearrange windows and tabs. Additionally, it supports dragging and dropping items from the nearly 50 indicators on the default list.

Trading resources: TMGM offers Forex Virtual Private Servers (VPS) for traders who are using MT4 to execute algorithmic trading strategies and who want to host their platform in a cloud environment that is available around-the-clock. If you are a new client and deposit $3,000 or trade at least 7 standard lots per month, or deposit $20,000 if you are a high-frequency trader (HFT), the basic service is free.

TMGM Market research

Beyond the excellent collection of third-party tools from Trading Central, TMGM’s research content lags behind the industry average and offers little to no market commentary. Although TMGM’s blog is well-positioned for expansion, many of its articles (aside from the Technical Outlook series) lack the illustrations, graphs, and tables that are typically present in market analysis updates offered by the top brokers in this field.

Overview of the research: Trading Central (TC), which powers tools like Market Buzz and Economic Insight, is the source of much of the research content at TMGM. Market Buzz displays an instrument heatmap based on sentiment, whereas Economic Insight displays an economic calendar powered by TC. For extra features like pre-session outlooks and fundamental forecasts, check out TMGM’s blog.

Market news and analysis: TMGM’s blog offers technical and fundamental analysis as well as daily market commentary. In general, the format and authors of articles are consistent. The majority of the videos on TMGM’s official YouTube channel are advertisements for the studio’s films, with a few tutorials and webinars sprinkled in here and there. The research offering from TMGM could be improved to be more on par with the industry standard by broadening the scope of the articles and videos.

Education

A remarkable educational program from TMGM that includes thorough knowledge-testing quizzes is available. These tests are a real challenge, and if you want to pass them, you either need to have a solid understanding of the material or to be an authority on it. This is a great resource for learning about the theoretical aspects of forex and CFD trading.

The educational material from TMGM pays close attention to the smaller details, like tracking your progress and providing feedback. In our annual review, TMGM received an overall Best in Class rating for beginners.

The three modules in the TMGM Academy are organized into three levels of learning: beginner, intermediate, and advanced. It gives you the freedom to skip around between chapters and lets you keep track of your progress. At the conclusion of each chapter, there is an interactive test with multiple-choice questions.

Conclusion on TMGM

The TMGM offering is uneven. On the IRESS platform, which is not designed for FX trading, it has the widest variety of markets. However, its MT4 platform only offers 79 CFDs and 62 forex pairs, and MT5 is not yet accessible. While there is room for improvement in its educational program, TMGM stands out for its TMGM Academy, which offers interactive knowledge-testing quizzes.

Overall, TMGM provides some excellent features, but in some crucial areas it still falls short of the top MetaTrader brokers.