Broker Review

TMGM, also known as Trademax Global Markets, is a forex and CFD broker operating across multiple jurisdictions. It holds licenses with regulators such as ASIC (Australia), VFSC (Vanuatu), CMA (Kenya), FSA (Seychelles), and FSC (Mauritius). Through these entities, TMGM offers trading in forex, indices, commodities, precious metals, shares, and cryptocurrency CFDs.

Regulatory Presence
* Australia (ASIC) – Trademax Australia Limited, AFSL no. 436416
* Vanuatu (VFSC) – Trademax Global Limited, reg. no. 40356
* Kenya (CMA) – Trademax Global Markets (KE) Pty Ltd, licence no. 219
* Seychelles (FSA) – Trademax Global Markets (SE) Ltd, licence SD224
* Mauritius (FSC) – Trademax Global Markets (International) Pty Ltd, licence GB22201012
On paper, TMGM has broad international coverage. However, licensing standards vary by country, and not all offer strong investor protection.

Regulatory Warnings & Issues
* Australia (ASIC Stop Orders – May 2024)
TMGM’s Australian entity faced temporary stop orders preventing it from onboarding new retail CFD and FX clients. The regulator found flaws in its client assessment process, including inadequate questions about risk tolerance and financial situation. TMGM responded by halting new Australian sign-ups while working with compliance advisors.
* Clone Website Alerts
Regulators such as the FMA in New Zealand have issued warnings about fraudulent websites mimicking TMGM’s brand (e.g., similar-looking domains). Victims reported being unable to withdraw funds from these lookalike sites. These are not genuine TMGM entities but highlight risks of phishing and impersonation.

User Experience
TMGM receives generally positive ratings on trusted platforms, with users praising its withdrawal speed and platform reliability. Independent reviewers often classify it as a “safe” broker due to its ASIC regulation. Still, there are caveats:
* Weak educational resources in some regions
* Differences in account offerings and leverage depending on jurisdiction
* Complaints tied to clone sites misusing TMGM’s name

Key Takeaways
* TMGM is a legitimate broker with multiple regulated entities, including ASIC oversight in Australia.
* Despite positive feedback, the ASIC stop orders show that compliance standards are under scrutiny.
* The rise of fraudulent clone sites poses a serious risk—always double-check you are on TMGM’s official domain.
* Protections differ widely depending on which TMGM entity you register under.

Final Word
TMGM is not an unregulated offshore broker—it has recognized licenses. However, regulatory warnings and clone-site scams mean traders must remain cautious. Always confirm the entity you are registering with, test withdrawals with small amounts, and be alert to jurisdiction-specific rules.