TMGM Review Australia 2026

Is TMGM safe? ASIC AFSL 436416

Yes, TMGM holds ASIC AFSL 436416 through Trademax Australia Limited, current since 21 May 2013 on the register capture of 16 July 2026. Its website gives a register address at Barangaroo in Sydney (read 1 October 2026). ASIC media release 24-109MR of 23 May 2024 records that ASIC made two interim stop orders preventing Trademax Australia Limited from opening trading accounts or dealing in CFDs or margin FX to retail investors, over concerns about its onboarding questionnaire and target market determinations under the design and distribution obligations. The orders did not stop existing clients varying or closing positions, were extended on 13 June 2024 and lifted from 25 June 2024.

TMGM ASIC licence

The Australian entity holds AFSL 436416 with the Australian Securities and Investments Commission, held continuously since 2013, so you can verify it yourself.

TMGM history and ownership

According to TMGM’s About page (read 1 October 2026), Trademax acquired AFSL 436416 in 2013 and an IT company, LifeByte, in 2016, and Trademax is now known as TMGM Group. Its contact page lists Australian offices in Sydney, Melbourne, Adelaide and Canberra.

TMGM Trustpilot rating

TMGM holds a Trustpilot rating of 4.4 out of 5 from 1,176 reviews, which Trustpilot labels excellent, captured November 2026. The profile has been claimed by the broker since August 2020.

How popular is TMGM in Australia?

Of the 33 brokers we review, TMGM holds 12th place for search interest in September 2026, on 3,020 branded searches from Australia. Search interest measures attention, not quality; the score above is the review verdict.

12of 33Search interest rank

3,020

Brand searches, September 2026

-20.3%

vs August 2026

90

Login searches

2.0%

Share of all broker searches

Source: Google search volume, Australia, September 2026. How this is measured

The rating comparison above renders only the figures held against a capture.

Before depositing, confirm TMGM holds AFSL 436416 using the site's guide to checking a broker on ASIC's register.

TMGM and the Trademax Australia Limited AFSL

TMGM’s Australian website names Trademax Australia Limited, AFSL 436416, and says its information is directed only at Australian residents (read 1 October 2026). Australian wholesale clients stay with that entity too, with professional leverage up to 400:1 on forex confirmed by TMGM live chat on 30 September 2026.

ASIC’s client money rules, negative balance protection on retail accounts and the AFCA complaint route all attach to AFSL 436416, so an account opened with any TMGM company other than Trademax Australia Limited would sit outside them. I score the Australian entity only, and you should check which entity you are signing with before you deposit.

Is TMGM legal in Australia?

Yes, TMGM is legal in Australia, taking local clients through Trademax Australia Limited, licensed by ASIC under AFSL 436416.

TMGM client money protection and AFCA membership

You get client money protection through segregated accounts at an Approved Australian Bank, with AFCA hearing claims up to A$1,263,000 and awarding compensation up to A$631,500.

TMGM keeps client money in accounts separate from company funds. ASIC requires negative balance protection on retail CFD accounts, so your retail account cannot lose more than the money in it. Australia’s Compensation Scheme of Last Resort pays up to A$150,000, but only for personal advice, securities dealing and credit, so CFD and forex trading are outside it.

Every other holder in this coverage carries the same retail licence protections, because the regime sets them rather than the broker. The field comparison sits in our broker safety rankings, and the mechanism in the guide to what negative balance protection covers.

I’d keep the licence boundary front of mind at this broker specifically: those protections attach to AFSL 436416 and to Trademax Australia Limited, so an account opened with a group entity offshore carries none of them.

TMGM’s AFCA member is Trademax Australia Limited, and AFCA’s Datacube, read on 27 September 2026, records 24 complaints received against it in 2025-26 and 7 in 2024-25, with the figures set out in the table that follows.

• AFCA business size: Very small
• Not adjusted for client numbers
• AFCA listing threshold: Financial firms that received four or more complaints during the selected period appear in the AFCA Datacube.
• Middle of the field: 23 AFCA firms listed for 01/07/2025 - 30/06/2026 among the brokers this site covers, each firm counted once
• Source: AFCA Datacube, complaints by firm, read 27 September 2026

What traders say about TMGM

Public ratings of TMGM from the rating sites that list it, showing the number of reviews or ratings behind each score and the month it was captured.

Rating site	Rating	Based on	Who rated	Captured
Trustpilot	4.4 out of 5	1,176 reviews	Worldwide	November 2026

Each row above is a public rating of TMGM taken from a rating site, dated to the month its figure was captured. A Trustpilot figure counts reviews and a TradingView figure counts ratings from anywhere in the world. The app store ratings for TMGM sit in the apps section of this review, with the store screenshots. A site with no row has no rating for TMGM, withholds it, cannot be matched to TMGM with confidence, or we have not captured it yet.

TMGM at a glance

TMGM’s Australian entity, Trademax Australia Limited, holds ASIC AFSL 436416, current since 21 May 2013, and the table below sets out the entity, the platforms and the fees.

Both accounts open from an A$100 minimum deposit.

TMGM’s commission row is denominated in US dollars on purpose, because the broker’s own Australian account page states it that way, so we’ve kept it in USD.

TMGM Edge and Classic spreads

TMGM advertises its Edge account with spreads from 0.0 pips plus a commission of US$7.00 per round turn standard lot on currency pairs, and its Classic account with spreads from 1.0 pips and no commission, on the account page read 1 October 2026.

Our dataset holds no measured TMGM spread, so every figure above is TMGM’s own advertised number. I read an advertised from figure as the lowest spread TMGM quotes, and the spread you are quoted will usually sit above it.

The Classic account prices spread-only with no commission, which suits you if you place one or two positions a week and prefer not to think about a commission line at all.

What TMGM costs per trade

Standard lots per month

15102550

Monthly spread cost converts pips to dollars using the EUR/USD pip value as the proxy for the 8-pair average, footnoted on-page. AUD pip value A$14.57 per standard lot at AUD/USD 0.6865 (11 Nov 2026).

Standardspread only · 8-pair average · source not declared

A$174.84

At 10 standard lots per month on Standard accounts, TMGM costs approximately A$174.84 in spread costs. Rates as of Wed 11 Nov 2026, 5pm New York close.

What it costs to trade with TMGM

Edge costs a commission of US$7.00 per round turn standard lot, which equals 0.70 pips on EUR/USD, where one pip on a standard lot is worth US$10. Your all-in cost is that commission plus whatever spread you are quoted, a figure we have not measured.

Edge works like any raw account, so our lowest commission brokers table is the place to check round-turn rates across brokers. Watch the currency the commission is charged in, since the US dollar figure moves with the AUD/USD rate.

The commission is charged in US dollars

TMGM’s Australian account page states the commission as US$3.50 per side and US$7.00 per round turn (read 17 July 2026). Your cost in Australian dollars therefore moves with the AUD/USD exchange rate even when TMGM changes nothing.

TMGM non-trading fees

• Overnight swaps apply on positions held overnight, on both the Edge and Classic accounts.
• Money moving between currencies is converted at the daily bank rate (TMGM deposit page, 1 October 2026).
• Withdrawals carry an A$0 fee from TMGM, but bank wires can attract intermediary bank charges.
• Inactivity past 12 months without a deposit, withdrawal or position triggers a US$10 monthly account maintenance fee.

How TMGM compares to IC Markets and Pepperstone

TMGM has no spread from our October 2026 capture, and its Standard account sits at 1.20 pips on EUR/USD in our May to June 2026 capture, while Pepperstone Razor measured 0.10 pips on EUR/USD and IC Markets Raw Spread 0.10 pips in our October 2026 capture. On commission, TMGM charges US$3.50 per side in US dollars, Pepperstone A$3.50 and IC Markets A$4.50. Both rivals also add cTrader and TradingView to the MT4 and MT5 that TMGM runs. I would still look at TMGM if an ASIC licence held since 2013 and MetaTrader from an A$100 minimum matter more to you than a current measured spread record.

TMGM account types and minimum deposit

TMGM account types number two for retail clients, Edge and Classic, both on an A$100 minimum deposit. You choose between raw spreads plus commission (Edge) or spread-only (Classic).

The two retail accounts carry the same markets on two pricing models, and the same minimum applies whichever one you pick. Edge carries raw spreads plus commission and Classic rolls the whole cost into the quote.

TMGM minimum deposit

TMGM’s A$100 minimum applies on both the Edge and the Classic account. That figure runs higher than the A$0 minimums at Pepperstone and CMC Markets, but I see it as low enough for most retail traders to open on either pricing model.

The observed application was rejected at the questionnaire stage

Noam Korbl selected MT5, the Edge account and AUD in his Australian TMGM application. Supplied notes and screenshots reviewed on 2 October 2026 record rejection at the questionnaire stage and a 30-day waiting rule before reapplication. That first attempt completed no identity documents and no funding, and TMGM never disclosed which answer failed. The dialog set a retry date of 1 October 2026, though the attempt’s own date is not recorded. By 11 November 2026 the portal showed the account enabled as a live MT5 Edge AUD account, which our desk funded that day, and how and when TMGM approved it after the rejection is not recorded. In my view, an undisclosed failed criterion leaves you guessing what to change before reapplying. Thirty days is TMGM’s recorded rule in this test.

TMGM wholesale status and 400:1 forex leverage

TMGM wholesale (professional-client) status sits with the Australian entity, Trademax Australia Limited (AFSL 436416). Existing clients request the upgrade from within the TMGM Portal once their account is verified, or through an account manager, and professional leverage runs up to 400:1 on forex, per TMGM’s live chat on 30 September 2026. Leverage on other asset classes was not confirmed, and TMGM support did not state the eligibility criteria.

Reclassification removes the protections: it takes away negative balance protection, the retail leverage limits and the 50% margin close-out.

Retail accounts are what this review scores, on the ASIC caps, with negative balance protection and the AFCA route intact, and the limit on major forex pairs stays at 30:1 for retail accounts.

For most readers, I don’t think the forex leverage uplift is worth giving up those protections, but a trader with the balance and experience to qualify can weigh it against the figures above.

TMGM funding methods and withdrawal fees

TMGM’s published deposit table lists five methods, every one carrying an A$0 fee from TMGM, from instant Visa and Mastercard to bank wire at about 1 to 3 business days (deposit page, read 1 October 2026).

TMGM deposit methods

Among the five, PayID is the Australian rail, AUD only, at about 1 business day, while bank wire, Revolut and Wise can carry intermediary bank charges on top of TMGM’s A$0 fee. I would check what your own bank charges before you pick a rail.

For the deposit test on 11 November 2026, Noam Korbl paid A$200 by Visa through Security Pay, one of four routes beside PayID, bank wire, and Revolut and Wise. The card screen set a A$100 minimum and A$10,000 maximum per transaction, barred third-party deposits, required 3D Secure, accepted Australian issuers only, and warned that processing can be delayed. TMGM’s own record shows the deposit Completed 2 minutes 40 seconds after creation, which I would call consistent with the “Instant” label TMGM’s table advertises for Visa and Mastercard. The full A$200 reached the MT5 account with no fee taken. I suggest you have 3D Secure active and an Australian-issued card ready before you start, and I would not assume a large deposit clears in one hit, because your card’s own limits also apply.

TMGM withdrawal times and fees

TMGM’s published withdrawal table (read 1 October 2026) lists bank wire at about 1 to 3 business days, in USD or AUD, with an A$0 fee from TMGM plus possible intermediary bank charges. The receiving account must carry the same name as your TMGM account, a requirement under Australia’s anti-money-laundering law. We have not made a withdrawal, so the timing is TMGM’s statement rather than our measurement.

TMGM trading platforms

TMGM’s account page (read 1 October 2026) lists MT4 and MT5 on both the Edge and Classic accounts, so those two are the platforms counted here.

MetaTrader 5

TMGM’s FAQ lists 21 timeframes in MT5 against 9 in MT4, plus depth of market, an economic calendar inside the platform and MQL5 strategy testing. I would make MT5 your default for a new account, and keep MT4 for the older expert advisors that need it.

MetaTrader 4

MT4 suits you when you already run third-party expert advisors built for it. TMGM allows expert advisors, scalping and news trading on both accounts (account page, 1 October 2026).

TMGM app

TMGM publishes its own mobile app alongside MT4 and MT5, which run on a phone through the MetaTrader apps with the client’s broker account details.

TMGM’s FAQ describes quotes, charts, trading and deposits and withdrawals inside the app, alongside a desktop TMGM Trading App. The broker’s own app sits apart from the MetaTrader apps, which handle MT4 and MT5 accounts on a phone. See how it compares in the best trading apps in Australia roundup.

• App Store: Australian storefront, exact figures from Apple's iTunes Search API
• Third-party MetaTrader, TradingView and cTrader Ltd apps not listed

TMGM copy trading

TMGM’s site carries guides to MT4 and MT5 on iOS and Android phones and tablets, and lists no copy trading service among its account and platform pages (read 1 October 2026). Traders who want to follow others will find the brokers that offer it in our copy trading comparison.

TMGM leverage and margin under ASIC rules

TMGM leverage and margin hold at the ASIC retail caps of 30:1 on major forex pairs across both retail accounts, so you get the standard ASIC limits.

• Given up with professional status: negative balance protection, the retail leverage limits, the 50% margin close-out
• Source: ASIC product intervention order (retail); TMGM and its Australian support, read 30 September 2026 (professional)

ASIC caps retail CFD leverage at 30:1 on major forex pairs, 20:1 on minor pairs, gold and major indices, 10:1 on commodities other than gold, 5:1 on share CFDs and 2:1 on crypto assets. The caps come from a product intervention order extended to 23 May 2027, so you’ll see the same limits at every ASIC broker, not just TMGM.

Once account equity falls below half the total initial margin on all open positions, the retail margin rule requires every CFD issuer to close your positions. Positions cannot be netted against each other to cut that figure, and a gapping market can close a position below the 50% level. The margin trade-off is set out in leverage and margin explained and compared across the field in high leverage trading accounts.

TMGM markets and instrument counts

TMGM lists six asset classes on its markets page (read 1 October 2026): forex, shares, precious metals, energies, cryptocurrencies and indices, all as CFDs. Its account page puts forex at 55+ pairs, while its markets page says 50.

Next to the multi-asset brokers that our CFD market comparison covers, I would call the range mid-sized. The commodity set is gold, silver and platinum plus oil, with no soft commodities listed.

TMGM’s markets page says its crypto CFDs trade on margin on MT4, and the ASIC retail cap is 2:1, so you hold a contract on the price rather than coins. TMGM lists no ETFs.

TMGM share CFDs

TMGM’s markets page lists hundreds of global share CFDs on MT4 and MT5 (read 1 October 2026), and every position is a CFD, so you never own the shares. Our share CFDs on global exchanges comparison sets out the brokers offering them.

TMGM gold and index CFDs

TMGM lists gold, silver and platinum plus 15+ global indices, with gold and major indices at the ASIC retail cap of 20:1. Our index range comparison and our guide to the gold CFD market show where that sits against rivals.

TMGM customer support

TMGM says client support runs 24/7 by live chat, phone and email and covers over 10 main languages, without naming them (contact page, read 1 October 2026).

Noam Korbl contacted TMGM’s live support during the failed application. Support could not see which criterion failed and could not override the decision, according to his notes. No reply time was measured, and the advertised 24/7 coverage has not been tested.

TMGM research, tools and education

TMGM publishes Trading Central, Acuity, a trading calendar, a market sentiment tool, a trading calculator, ForexVPS, a Trading Academy and market analysis. We have not assessed the research or education live, so this section states only what the broker publishes.

Should you open a TMGM account?

I would point you to TMGM if an ASIC licence since 21 May 2013, MetaTrader on both accounts from an A$100 minimum and a US dollar commission suit you. Where a measured spread record matters, TMGM has none, and I would send those readers elsewhere.

Across our leading ASIC-regulated forex brokers, TMGM ranks nineteenth on the 2026 scoring, and a demo account is offered on both Edge and Classic. TMGM says it deletes demo accounts on the first Saturday of each month, whether or not positions are open, so treat the demo as a monthly-reset sandbox before you commit real money.