TradeMax Global Markets Review: In the review below, we take an in-depth look at the features tmgm.com allegedly offers. This review basically answers the questions: is tmgm.com legit? Is TMGM reliable? The review covers aspects of its licensing, its account types, its leverages, its withdrawal, and deposit methods. Read through our review to see what we and other experts have to say about TMGM.
Table of Contents
TMGM Trading Platform
TMGM offers the MetaTrader 4 and MetaTrader 5 trading platforms, and the iRESS web trading platform with a leverage capped at 1:500.
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High leverages are a double edged sword in the sense that a trader can make a huge profit if the trade falls in the right place but that also means that the trader can also loose a huge sum if the reverse is the case. Regulatory bodies have put a cap on leverages for brokers. But unregulated brokers lacks this Capped leverage. We do advice restraint if you ever come upon a broker with leverage exceeding 1:30, especially if you are new to the market
TMGM Account Types
In this portion of the review, we aim to explore the account types a broker might have. We check the account with its corresponding deposit and leverage. Doing this gives a clearer idea how a broker might work.
After checking, we discovered that this broker has two account types.
TMGM Deposit and Withdrawal Methods
Deposit and withdrawals are the two most important transactions for us because the end goal of trading is making a profit. In this section, we look at these methods to make sure everything is okay with it.
We could not find any discernible method that this broker uses to carry out transactions.
Another thing to keep in mind is that there might also be withdrawal conditions concerning accounts that take advantage of the bonus promotion. Some fraudulent brokers stipulate that a trader must achieve a certain trading volume to be eligible for withdrawal. They do this to stop traders from making a withdrawal.
Is TMGM Licensed?
Licensing is another important part because we can trust a regulated broker to some extent not to do anything fraudulent. We do this part of the review by first checking the name of the company attached to the broker. Then we run that name through various regulatory bodies to discover if it regulates said brokerage.
After checking the Australian Securities and Investment Commission (ASIC) in Australia and the authorities in Vanuatu (Vanuatu Financial Services Commission ) , we found out this broker is licensed.
To get a better understanding of how brokers(both licensed and unlicensed) work, read our review on Fxcryptomine, FTG Markets, Capital GMA, Kiexo.
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Accounts
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Licensed in UK(FCA), Dubai(DFSA), St Vincent and the Grenadines, Cyprus(Cysec) and Cayman Islands
Accepts Traders Worldwide
Minimum Trade Deposit $100
Maximum Leverage
1:500
TOP CHOICE BY TRADERS
Licensed in UK(FCA), Australia(ASIC), Belarus(NBRB) and Canada(IIROC)
Accepts Traders Worldwide
Minimum Trade Deposit $100
Maximum Leverage
1:300
BEGINNER FRIENDLY
Licensed in Australia(ASIC) and Cyprus(Cysec)
Accepts Traders Worldwide
Minimum Trade Deposit $100
Maximum Leverage
1:500
Conclusion
This broker is a legit company, and although it is, we wouldn’t recommend on the counts that we believe there to be better brokers than this.
But if you still want to try them out, we do exercise restraint.