TMGM

TMGM broker is an international broker that has been operating since 2013 and is headquartered in Australia. An ASIC license, leverage up to 1:1000 and a claimed offering of more than 12,000 trading instruments are among its well-known features. In this overview, we review TMGM's licenses, accounts, platforms, payment methods and service status for Iranians based on Teagle's data.

What kind of broker is TMGM?

TMGM is a broker with about 13 years of history that, by its own claim, offers trading on more than 12000 instruments including currency pairs, stocks, indices, metals, energy and cryptocurrencies. Its main platforms are MetaTrader 4 and 5, and a proprietary TMGM App is also offered. An ECN account, a cent account, and permission for scalping, hedging and news trading are among the features listed in this broker's profile.

TMGM broker licenses and credibility

According to Teagle's latest review, TMGM holds four active licenses:

• ASIC Australia (No. 436416), one of the world's tier-1 regulators;
• VFSC Vanuatu (No. 40356), offshore;
• FSC Mauritius (No. GB22201012), offshore;
• FSA Seychelles (No. SD224), offshore.

The ASIC license gives the TMGM brand high credibility, but Teagle's expert points out that international clients usually trade under the offshore VFSC regulation and other offshore licenses, and ASIC protections do not cover them. If this difference isn't clear to you, read the article The difference between offshore and onshore brokers .

Does TMGM serve Iranians?

No. According to the Teagle team's inquiry with TMGM support, this broker does not serve residents of Iran. Its website and support do not support Persian, and access from Iran requires changing your IP. Being registered with several offshore regulators doesn't change anything, and Iran is not within this broker's service area; signing up with false information carries the risk of account blocking. To choose an alternative, see the article Prohibited brokers and how to choose a safe broker in Iran .

TMGM trading accounts

Teagle's table lists three accounts for TMGM, all offered with floating spreads, a 20% stop-out and an Islamic version:

• Classic account: minimum deposit $100, no commission, spreads from 1 pip and leverage up to 1:1000;
• Edge account: minimum deposit $100, spreads from 0 pips and a commission of $7 for forex and $5 for metals per round turn, with leverage up to 1:1000;
• Cent account: spreads from 1 pip, a commission of $0.07 and leverage up to 1:500.

Regarding the cent account's minimum deposit, the figures in different sections of Teagle's data don't match; ask support before opening an account. The margin call level and requote status have not been specified either. To compare the Edge account with commission-free accounts, read the article ECN accounts and how they differ from other accounts , and for the cent account, the article Best brokers for cent accounts .

TMGM platforms and services

Trading is done on MetaTrader 4, MetaTrader 5 and the TMGM App (Android version). Additional services include bonuses, cashback, rebates, education, copy trading, expert advisors and trading bots, a virtual private server (VPS), an economic calendar and a forex calculator; if you're thinking of copying other people's trades, see the guide Copy trading in financial markets . Charging an inactivity fee is one of the weaknesses Teagle's expert has noted for this broker.

Deposits and withdrawals at TMGM

According to Teagle's table, the minimum deposit via credit card, bank wire, Neteller and Skrill, FasaPay and STICPAY is $100, and these methods have no deposit or withdrawal fees. Crypto deposits start from $50, are instant and only incur network fees. UnionPay starts from $500 (in yuan equivalent) and local payment methods from $15. Withdrawal processing time is about 24 hours for most methods and 2 to 5 business days for bank wire; bank wire deposits also take 1 to 4 business days.

TMGM's rating and risk on Teagle

TMGM's final rating on Teagle is 3.31 out of 5: WikiFX 4.57, Teagle expert 4, Trustpilot 3.3 and Forex Peace Army 1.35; Teagle users have not submitted any reviews yet. The large gap between the WikiFX and Forex Peace Army ratings shows that user experiences are not consistent. The Teagle Eye risk index for this broker is 23 out of 100, in the "low to medium risk" category. Follow its position in the low-spread broker rankings .

Pros and cons of TMGM broker

• Pro: Australian ASIC license alongside three offshore licenses
• Pro: wide range of trading instruments and low spreads on the Edge account
• Pro: leverage up to 1:1000 and support for MT4 and MT5
• Con: does not serve residents of Iran, with a risk of account blocking
• Con: no Persian support
• Con: charges an inactivity fee and registers international clients under an offshore license

Who is TMGM suitable for?

TMGM suits professional traders outside Iran who need a wide range of instruments, high leverage and the MetaTrader platform. Residents of Iran should look for another option due to the lack of service and the risk of account blocking. If you live outside Iran, weigh it up in the TMGM vs Blueberry Markets comparison .

Conclusion

With an ASIC license, competitive trading conditions and a wide range of instruments, TMGM is a notable broker, but it does not serve Iranians, and its international clients are usually placed under an offshore license. If you are in another country, start with a small amount, make a test withdrawal and check the latest warnings on the investment risk warning page .