Broker Review: Is TMGM (TRADEMAX GLOBAL MARKETS) a SCAM?

TMGM is an Australian Forex broker whose company is registered as TRADEMAX GLOBAL MARKETS. Because this broker appears to have gained momentum lately, we want to review their quality of service and let you know whether or not it is safe to trade with TMGM. On the same note, we invite you to choose these highly recommended trading products and services as they can help you earn good income in no time.

Our research team have also identified that Trademax Global Markets is related to defunct sites like kt-financial.com and dopro-exchange.com. In case you were scammed by either of the two, just fill out the form below and you’ll get professional help.

That said, TMGM is making use of a professionally-designed website to attract the attention of traders globally. They claim to be providing a transparent trading environment with best pricing. They advertise spreads starting 0.0 pips and minimum deposit being $100 only. The company further claims that TMGM provides 12,000 plus trading instruments and that speed of execution is less than 30ms. This is definitely a remarkable thing but only if it is actually true that their speed of execution is this fast.

We still have serious complaints against this broker as a couple of users have left reviews or feedback larmenting that Trademax Global Markets accepts deposits but not withdrawals. These are very serious complaints which have caused brokers to be blacklisted, and if TMGM is going down this route, then it is safe to assume that they are a SCAM.

TMGM (Trademax Global Markets) Review

The marketing materials on their website depict a broker that has teamed up with top-tier liquidity providers art Equinix data centres. Graphics on their website show live spreads and they also say they allow all kinds of trading styles including those who want to use expert advisors.

Tradeable instruments include Forex, Indices, Shares, Futures, Precious Metals, Crypto and Energies. The trading platform that they provide their clients are MT4, MT5 and IRess. We have no experience with IRess platform yet but MT4 and MT5 are the mainstream platforms that every broker is offering now.

In terms of leverage, traders can access up to 1:500, which is very high and appropriate for scalpers but again risky if a trader does not understand what they are doing.

Reviews from other traders who have used TMGM

There’s mixed opinion regarding the services of this broker but one complaint appears to be very consistent. These traders are saying that TRADEMAX GLOBAL MARKETS does accept deposits but not withdrawals.

We have seen several traders on the internet raising this complaint, which is such an unfortunate thing seeing that TMGM’s website does not look like a company that implement underhand tactics.

Also, the company has multiple defunct domains, which makes us wonder why they have those domains and what happened that led them to close business related to those domains. This can be considered red flag.

Is TMGM regulated?

They seem to want to acquire multiple licenses so that they can appear more legitimate. They have an ASIC license and also an offshore license from Vanuatu. You should know that these offshore licenses mean nothing since Forex brokers have scammed investors, despite being regulated in offshore jurisdicition.

We don’t know what the regulator is doing about the complaints that have so far been brought against this broker.

Can we trust TRADEMAX GLOBAL MARKETS?

We see that the company is making use of TrustPilot, which is basically a fraudulent review platform as the owners will promote any scam as long as their pockets are being fed with the top dollar.

Reviews about TMGM on the TrustPilot can’t be trusted as the platform is also known to host reviews coming from inside the offices of the company that wants to build their reputation.

In other words, employees of companies can leave reviews on Trustpilot while pretending to be clients of the company.

We are focused on real user reviews and despite some saying the broker is good, majority say that this broker is actually a scam. That makes them fall in same category with Markets24, Simplified Asset, TD markets and the rest.

The Conclusion

Due to this broker sounding scandolous in nature, we will not recommend them or even include them in our list of the most recommended trading resources.

Despite the broker being an ASIC regulated company, there’s a sense that the broker is not to be trusted 100%. So we request that you exercise caution or contact us so we can help you choose a good broker.