TradeMax Global Markets Review

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Contributor, Benzinga
December 16, 2022
TradeMax Global Markets
Overall Rating:
securely through TradeMax Global Markets's website

TradeMax Global Markets (TMGM) is a virtual trading platform created by traders for traders. It allows customers to access useful tools and charts related to a wide range of markets such as forex. The platform handles seven different asset classes and has over 12,000 trading products. TMGM provides users with informative educational tools such as a section intended to simplify common trader terminology. The company combines competent customer service with 24/7 access in your native language, notable security features and strong product offerings while providing competitive rates.

Best For
  • Individuals interested in forex investing
  • Investors that prefer using a MetaTrader broker
  • People engaged in contract for difference (CFD) investing
Pros
  • Low minimum deposit of $100 for select accounts
  • More than 10 different ways to fund an account
  • Access to over 12,000 trading products
  • Does not charge funding fees
Cons
  • Recommends a minimum deposit of $500 for select accounts

TradeMax Global Markets Ratings at a Glance

TMGM Product Offerings
TMGM Customer Service
TMGM Security
TMGM Pricing
TMGM Mobile App
TMGM User Experience
TMGM Overall

TMGM Product Offerings

TMGM functions as an online forex broker that provides a wide selection of tools and trading opportunities. Users have access to multiple markets such as forex,precious metals, cryptocurrencies, indices,  and shares.

The company has two main types of trading accounts such as a Classic account and an Edge account. When using a Classic account, you can create spreads that start at one pip. The Edge account offers raw spreads starting at 0.0 pips. The company also has accounts specifically designed to function with IRESS, with a maximum of five accounts. 

For investors curious about TMGM’s service, the company has a demo account. The demo account is designed to function similarly to the actual trading accounts. Demo accounts let you practice trading using virtual money. Once a person grows familiar with the tools and features provided by TMGM, they can more confidently open an account and begin trading. Demo accounts are an excellent way to test the product while also actively learning how to become a better trader.

TMGM works with platforms such as MetaTrader 4 (MT4), HUBx and IRESS. If you want to open a HUBx or IRESS account, you can ask to have an account created.

The company supports CFD investing, which allows for speculation on the future value of an asset.

A section of the website is dedicated to helping explain common trader terminology. The website also has an educational tool called the TMGM Academy. It includes steps crafted for beginner-level, intermediate-level and advanced-level investors. You need to set up an account to enroll in courses. 

TMGM has a solid selection of product offerings intended to provide customers with access to a wide range of markets and trading platforms. The focus on quality trading opportunities and premium educational tools allows TMGM to stand out from the crowd.

TMGM isn’t available in the U.S.  

TMGM Customer Service

The company earns high remarks for responsiveness and general customer satisfaction. TMGM offers ample communication methods to improve customer interaction. The company has live methods of communication such as chatting on the website, WhatsApp, Telegram and Messenger. TMGM also has multiple email addresses, phone numbers and physical addresses. The website shows a fax number. 

The customer service team provides help in over 10 languages to effectively assist a broad customer base. TMGM has live support that can be accessed at any time to accommodate a customer’s schedule. The company understands that customer inquiries can be time sensitive and ensures a prompt response.

TMGM maintains a strong presence on social media. The company engages on platforms such as LinkedIn, Instagram, YouTube and Twitter. Social media is growing in importance among younger generations, which makes it an increasingly relevant method of communication for companies interested in growth across all demographics.

Customer reviews placed on third-party websites such as Trustpilot speak highly of TMGM. People mentioned knowledgeable customer service members who were able to give helpful responses to inquiries. Before opening a brokerage account, consider reading the reviews placed on third-party websites to have a more accurate understanding of the company. When researching reviews, examine the newest reviews, the most favorable and the least favorable to have a well-rounded understanding of the company. 

The website has a prominently displayed contact page that organizes methods of communication by need. 

The website has a section dedicated to answering frequently asked questions. It allows users to troubleshoot their inquiries without needing to directly reach out to a member of the customer support team. 

TMGM’s wide selection of communication methods, prompt customer assistance and generally positive customer reviews reveals the company’s ability to provide users with quality interaction. 

TMGM Security

The company offers security by actively safeguarding information and complying with necessary regulations. 

Security takes priority with TMGM as customer funds are held within tier-one major banks. The tier system indicates the financial strength of the banks so a tier-one bank is considered a top financial institution. In addition to placing funds at a tier-one major bank, TMGM keeps the funds provided by customers separate from company funds. 

TMGM complies with multiple bodies of oversight such as the Australian Securities and Investments Commission (ASIC), Financial Markets Authority (FMA) and Vanuatu Financial Services Commission (VFSC).

The privacy policy is located in a visible location near the bottom of the home page to promote trust while also empowering customers. 

You want to be proactive with security. Implement extra security measures in addition to the methods provided by TMGM such as changing your passwords every few months. If possible, consider using a virtual private network (VPN) to ensure a safe connection to the internet when interacting with sensitive information. Security is becoming an increasingly important consideration when interacting online with sensitive financial information.

TMGM Pricing

Barriers to entry are relatively low. The minimum required investment is $100 for select accounts. However, the company advises a minimum of $500. The minimum withdrawal amount is $100.

The company typically does not charge fees on deposits or withdrawals. TMGM has no commission fees. However, the customers might face fees from the banks involved. It’s also possible to have fees for withdrawals when using an e-wallet. TMGM uses competitive industry rates. The funds are typically converted using the daily bank rate. 

The funding time for accounts tends to vary based on the funding method. For example, accounts funded by Visa are typically instant. It can take around 10 minutes for instant funds to show in the account. In contrast, bank wires can take up to five days to settle into an account. 

TMGM offers spreads from 0.0 pips. A pip is a term that’s used to indicate the tiniest increment that’s calculated by currency markets. The difference between a bid and an ask is called a spread, which is calculated using a pip. When trading in the forex market, you can obtain spreads starting at 0.0 pips thanks to the TMGM Aggregation engine. 

TMGM Mobile App

The mobile app is not easily accessible. To obtain information about the mobile app, people must log in to an account and select the download section. The mobile application is available for download on both the Apple App Store and the Google Play Store. 

To obtain the mobile app, you have the option to scan the provided QR code using a mobile device. A QR code is a type of code that can be read by a machine such as a smartphone’s camera. The code typically holds important information such as a URL. 

The relative inaccessibility of the mobile app could deter users. 

TMGM User Experience

The general user experience earns high marks because of a wide selection of available trading products, transparent trading practices and a logical platform design. 

You can create and start using an account in less than one day. Account users can trade over 12,000 different products. The varied selection combined with an extensive amount of educational tools empowers investors.

Account holders have access to a market sentiment tool as well as TMGM Academy. The market sentiment tool focuses on collecting information from various locations such as social media and news articles to provide a well-rounded glimpse of the sentiment regarding a specific market or product. You can enter the symbol for a specific stock to understand the number of mentions that a company has received within a selected amount of time. The tools encourage an increased level of comprehension and allow investors to access relevant data. 

The mobile application and website let you trade in a variety of markets. You can easily navigate to find the necessary information such as market details and trading tools.

TMGM promotes a strong user experience by allowing investors to access a variety of investments while providing educational tools. 

TMGM vs. Competitors

TMGM has a few top competitors such as Fusion Markets and TD Ameritrade. All three brokers offer investors the opportunity to access a range of markets. Fusion Markets and TMGM cater to forex traders. 

TMGM Overall

Overall, TMGM earns a score of 5 out of 5. The company has a notable selection of product offerings, strong customer service, accessible pricing and a positive user experience. 

The product offerings allow investors to choose from over 12,000 products. Customers can choose between two main types of accounts while accessing useful tools and features intended to improve trading. 

The company places an emphasis on security, which gives investors peace of mind when funding an account. TMGM works with three regulatory bodies to ensure compliance. Security measures emphasize the importance of safeguarding funds and protecting investors. 

TMGM offers multiple methods of communication. Customers can speak live with a customer service representative using different platforms such as WhatsApp and Messenger. The company combines more traditional methods of communication such as emails and phone numbers with social media platforms. This customer-centric approach to communication promotes positive interaction between the company and its customer base. 

You can open an account with $100.The affordable pricing and minimum level of investment create a low barrier to entry that appeals to a wider pool of interested investors.  

TMGM is a noteworthy broker when it comes to combining trading opportunities with customer satisfaction. The company recognizes the importance of having accessible customer service and a well-versed quality product offering. 

Frequently Asked Questions

Q

Is the TMGM broker legit?

A

Yes, TMGM is legitimate. TMGM complies with three regulatory bodies, including the Financial Management Association (FMA), Vanuatu Financial Services Commission (VFSC), and the Australian Securities and Investments Commission (ASIC). Customer reviews on third-party websites such as Trustpilot speak highly of the company in terms of professionalism.

Q

Is TMGM an ECN broker?

A

Yes, TMGM is an electronic communication network (ECN) broker, which allows users to efficiently access many markets.

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