TMGM

TMGM (TradeMax Global Markets) was founded in 2014 in Australia and holds solid regulation in both ASIC (Australia) and the FCA (UK), alongside licences from the FSC (Mauritius), FSCA (South Africa), and SVGFSA (St Vincent & the Grenadines). This makes TMGM one of the more globally regulated brokers available.

The broker offers a range of over 500 instruments—including forex, indices, commodities, metals, cryptocurrencies, and global share CFDs—across MT4, MT5, TradingView, and its own iRESS web platform, catering to a variety of trading preferences.

In our testing, TMGM stood out with its transparent fee model and platform options. Traders can choose between a Classic (spreads-only) account or the Edge (ECN) account, which adds a small commission for tighter spreads. With a modest $100 minimum deposit, it’s accessible yet built for serious trading.

What impressed us most was the iRESS platform. This web-based platform delivers clean, chart-rich trading and covers over 2,400 US, UK, and Hong Kong share CFDs—far more breadth than many MT4/5-only brokers. For those focusing on global equities, iRESS with depth of market and easy access is a clear plus.

In terms of support, TMGM delivers well. Their 24/5 multilingual service—via live chat, phone, and email—was responsive in our tests, and Trustpilot users often commend the team for being “professional, quick and dependable.”

However, there are a few trade-offs worth noting. While their ECN account offers tighter forex spreads along with a $7 round-turn commission—indices and commodity spreads are notably higher than many other ECN brokers we evaluate at TraderGuide. US Crude, NASDAQ, and especially DAX are noticeably more expensive to trade here.

Variable spreads can widen during volatile periods, making the Classic account less appealing for spread-sensitive traders. Additionally, TMGM charges a $30 monthly inactivity fee if your balance is under $500 and no trades occur for six months. This isn’t unique, but it's something to bear in mind.

Despite regulatory breadth, their global licensing still leaves them behind a few elite brokers in terms of reputational strength. There’s solid protection in place, but it isn't quite on par with heavyweights like FCA-only brokers.

TMGM is one of the most expensive brokers to trade with overall, based on our list of reviewed brokers. This is primarily due to their disproportionately large Bid-Ask spreads on stock indices.

For instance, they offer the FTSE at 3 points wide, while some brokers offer it as low as 0.60. Their DAX index spread is 5 points wide, which is frankly absurd when compared to other brokers who offer it as low as 0.80.

TMGM presents a versatile, transparent option in the ECN and CFD space. With a clear fee structure and the iRESS platform, it’s a good fit for traders focusing on share CFDs or those wanting additional insight tools.

But let’s be honest—while forex pricing is competitive, indices and commodity costs stand out as on the higher side. Since TraderGuide places strong emphasis on trading costs, this is a notable downside for cost-conscious traders.

If you value platform flexibility, broader share access, and don't mind paying extra on certain products, TMGM is worth considering. Just be sure to check the trading costs for your main instruments. It’s an honest, fully featured broker—but not necessarily the cheapest for all strategies.