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TMGM FAQs | Registration, Fund Withdrawal, Platforms and more
Are you interested in trading with TMGM? Check out these FAQs to get to know more about the broker.
Account Types FAQs
What types of trading accounts does TMGM offer?
TMGM offers Classic and Edge accounts on the MT4 platform, as well as IRESS for trading CFD Shares. For detailed information, please visit the Trading Accounts section on TMGM’s website.
What are the differences between the Classic and Edge accounts?
The primary differences between the Classic and Edge accounts are their commission rates and spread types. For a detailed comparison, visit TMGM’s Trading Accounts page.
Does TMGM offer swap-free accounts?
Yes, TMGM provides Islamic Accounts that comply with Sharia Law. These swap-free options are available for both Edge and Classic Accounts denominated in USD, EUR, or GBP.
Are joint accounts available at TMGM?
TMGM offers Joint Accounts exclusively for traders who share a joint bank account.
Does TMGM offer Fixed Spread accounts?
At TMGM, all trading accounts feature variable or floating spreads, and they do not offer fixed spread accounts.
How can I open a demo account with TMGM?
To open a demo account, new clients should click on Try Demo Account and complete the brief application form to get started.
How do I open a live trading account with TMGM?
Opening a live trading account is straightforward. Simply click on Get Started, and follow the instructions to complete the application process.
What base currencies are available for trading accounts at TMGM?
Clients may open a trading account in any of the following currencies: AUD, EUR, CAD, GBP, NZD, and USD.
Are trading conditions the same for demo and live accounts?
While TMGM aims to maintain similar trading conditions for demo and live accounts, please note that market volatility can cause variations in execution between the two.
How can I open additional trading accounts?
Additional demo or live accounts can be opened directly through your Client Portal.
What documents are required to open a live trading account?
You will need to provide a valid Photo ID and a recent proof of residence (e.g., utility bill or statement) to confirm your address. Acceptable forms of Photo ID include a passport, government-issued ID (such as a driving license or state ID), or a national identity card. All IDs must be valid and clearly display your full name, date of birth, and issue/expiry dates.
What qualifies as an acceptable proof of residence?
Acceptable proof of residence documents include a utility bill (gas, electric, water, phone, or internet) or a bank statement, which must be dated within the last 90 days and clearly show your full name and residential address (no PO Boxes).
How do I submit the required documents for account verification?
Documents should be uploaded via your Client Portal. If you encounter any issues, you can also email the documents to support@tmgm.com, and TMGM’s team will assist you.
How long does account verification take?
Account verification typically takes a few hours after TMGM receives the necessary documents. For updates on your account verification status, please contact TMGM’s support team.
How will I know when my account is verified?
You will receive an email notification once your account is verified. This notification will include your live trading account number, trading server details, password, leverage settings, and account currency.
Can I fund my account before it is verified?
You must wait until your account is verified and you have received your trading account details before you can fund your account.
Platforms FAQs
What trading platforms does TMGM offer?
TMGM provides a range of trading platforms, including MT4, MT5, Iress, and HUBx.
How do I create an MT4 trading account?
After registering and verifying your TMGM profile, you can create a live MT4 trading account through your Portal. Navigate to Dashboard, select “+Live Account Application,” and follow the prompts to set up your account.
How can I create a HUBx or Iress trading account?
HUBx and Iress accounts require manual setup by TMGM’s back office team. To request an account, either email TMGM from your registered email address at support@tmgm.com or use the Live Chat feature on the TMGM website.
How can I download the MT4 desktop platform?
Log in to your TMGM Portal, click on the “Downloads” tab, then select “Download for Windows” and follow the provided installation instructions.
How do I download the MT4 mobile app for iOS and Android?
After logging into your TMGM Portal, go to the “Downloads” tab. Hover over the App Store or Google Play Store button to display a QR code. Scan this code with your mobile device to be directed to the app download page.
Where can I access the MT4 Web Trader?
Access the MT4 Web Trader by logging into your TMGM Portal and selecting the “WEB Trader” tab.
How do I access the HUBx trading platform?
The HUBx platform can be accessed through the web browser via your Client Portal under “Trading Tools.”
How do I access the Iress trading platform?
Once your Iress account is set up, you will receive an email with your login credentials and a link to the platform.
How do I log in to the MT4 Desktop or Web Browser platform?
To log in, open the MT4 platform, click on “File” then “Login to Trade Account,” and enter your account number, password, and server details in the appropriate fields.
How do I log in to the MT4 mobile app?
Open the MT4 mobile app, go to “Settings,” select “New Account” then “Login to an existing account.” Enter ‘TradeMax’ in the “Server” field, select your server, and input your account number and password. Then click “Sign In.”
Are Expert Advisors allowed on TMGM trading accounts?
While TMGM does not provide its own Expert Advisors, they do permit the use of third-party EAs on trading accounts.
Deposit and Withdrawal FAQs
What is the minimum deposit amount?
The recommended minimum deposit is $500. However, you can start with as little as $100. TMGM accepts deposits in the following currencies: EUR, GBP, USD, AUD, NZD.
How can I fund my account?
You can fund your account using various methods, which may differ based on your country. For specific options available to you, please visit the “Funding Management” section within your Client Portal.
Can someone else deposit money into my account?
Deposits must be made by the account holder only. TMGM cannot accept deposits from third parties, including friends or relatives.
What is the procedure for withdrawing funds?
To withdraw funds, you must use the same method you used for depositing. For instance, if you deposited via bank wire, you must withdraw via bank wire as well.
How long does it take for a withdrawal to reach my bank account?
Withdrawal requests are processed within 1 working day. The time it takes for the funds to reach your bank account depends on the method used:
- International Bank Wire: 3-5 working days.
- Other methods: Typically within 1 working day.
Are there any fees for depositing or withdrawing from my trading account?
TMGM does not charge any fees for deposits or withdrawals. However, you might incur fees from banks for bank transfers. Additionally, withdrawals to e-wallets may be subject to a fee if no trading activity has occurred.
Trading FAQs
How should I start trading?
Beginners are advised to start with a demo account to become familiar with the platforms and trading principles. Enhance your knowledge with resources from the TMGM Academy.
What does the market price represent?
The market price indicates the value of the secondary currency needed to buy one unit of the primary currency in a pair. For example, a EURUSD price of 1.12000 means 1 Euro can be exchanged for 1.12 US Dollars.
What type of spreads does TMGM offer?
TMGM offers variable (floating) spreads across all account types. These spreads vary according to the liquidity available from theproviders and reflect real-time market conditions.
What are the trading fees at TMGM?
For the Classic account, spreads start from 1 pip plus applicable swaps. For the Edge account, spreads start from 0 pips with a $7 USD commission per round turn lot, plus applicable swaps.
When is Swap applied?
Swaps are charged daily at 23:59 GMT+2 for open trades. On Wednesdays, the swap fee for FX and Metals is tripled to account for the weekend. For other asset classes, the triple swap is charged on Fridays.
How is Swap calculated for my trade?
Swap is calculated as follows:
Swap Rate x Number of Lots x Number of Nights
What types of execution does TMGM use for trades?
TMGM uses market execution for trades, meaning trades will be executed at the best available price, possibly different from the requested price if it’s no longer available.
What is a pending order?
A pending order is set to execute a trade when specific conditions are met. TMGM offers four types:
- Buy Limit: Buy when the future “ASK” price reaches a predefined lower value.
- Buy Stop: Buy when the future “ASK” price reaches a predefined higher value.
- Sell Limit: Sell when the future “BID” price reaches a predefined higher value.
- Sell Stop: Sell when the future “BID” price reaches a predefined lower value.
Is it possible to receive a requote?
In TMGM’s market execution environment, requotes do not occur.
What instruments are available for trading with TMGM?
TMGM offers a variety of instruments including Forex, Indices, Shares, Metals, Energies, and Cryptocurrencies. Detailed listings can be found on TMGM’s platform.
What is the smallest/largest trade size at TMGM?
The smallest trade size for Forex is 0.01 standard lots, with the maximum being 80 lots.
What leverage options are available?
Leverage of up to 1:1000 is available for Forex pairs, varying by instrument. Specific leverage details are available on TMGM’s platform.
What trading platforms does TMGM offer?
TMGM offers MT4, Iress, HUBx, and is planning to introduce MT5 accounts soon.
How do I create an MT4 trading account?
Register and verify your TMGM profile, then create a live trading account via the “Dashboard” by selecting “+Live Account Application.”
How do I create a HUBx or an Iress trading account?
HUBx and Iress accounts are set up manually. Request an account by emailing support@tmgm.com or via Live Chat on TMGM’s website.
How can I download the MT4 platform?
Log in to your TMGM Portal, select “Downloads,” then choose the appropriate download option for Windows, iOS, or Android.
How do I access and log in to the trading platforms?
Access the MT4 Web Trader via your Portal under “WEB Trader.” Log in to MT4 platforms by navigating to “File” > “Login to Trade Account” and entering your credentials. Access to HUBx and Iress is provided through the Client Portal, with credentials sent via email after setup.
Are Expert Advisors allowed on TMGM accounts?
While TMGM does not offer proprietary Expert Advisors, third-party EAs are permitted on the platforms.
Hubx FAQs
What is HUBx?
HUBx is a portfolio management tool that facilitates the connection and management of trading positions by linking master accounts with follower accounts.
How do I open a HUBx account?
To access the HUBx platform, navigate to the “Accounts” tab in your client portal. There, you’ll find an option to apply for HUBx access. Click this to review and accept the terms of use in the popup window.
Do I need to download HUBx?
No, HUBx is seamlessly integrated into your client portal, eliminating the need for additional software downloads.
How do I log in to HUBx?
Log in to HUBx by selecting the “Trading Tools” tab within your client portal.
What are my login credentials for HUBx?
Use the same username and password that you use for accessing your client portal.
Can a follower account be on a different server than the master account?
Yes, HUBx accommodates different servers. Accounts on servers 1, 2, or 3 can interact within those groups, and accounts on servers 4, 5, or 6 can interact within their group. However, an account on server 4 cannot follow an account on server 1, for example.
How do you set up a master account?
To set up a master account, go to the “Account Management” tab in your client portal. From there, you can link your real trading account to function as a master account.
Must the follower account holder know the master account holder?
Yes, the follower must provide a PIN to the master account holder to establish a link between their accounts.
How do I connect my account to a master account?
Create a PIN under your trading account settings and provide this PIN to the master account holder to link your account.
How do I create a HUBx PIN?
In your trading account settings, select ‘Password Type,’ choose ‘HUBx PIN,’ and then create your PIN.
How do I disconnect my account from the master account?
You can either request the master account holder to disconnect your account or send a disconnection request to support@tmgm.com.
Does my account have to match the currency of the master account?
No, the currency of the follower and master accounts does not need to match.
Is there any profit sharing on HUBx?
HUBx itself does not facilitate profit sharing. If you are interested in profit sharing arrangements, please contact your Account Manager for tailored solutions.
Regulation & Security
Is TMGM regulated?
Yes, TMGM is regulated by four leading financial regulatory bodies: the Australian Securities and Investment Commission (ASIC) with AFSL number 436416, the Financial Markets Authority (FMA) of New Zealand with FSP number 569807, and the Vanuatu Financial Services Commission (VFSC) with license number 40356.
Are my personal details safe?
TMGM prioritizes the privacy of its customers and have robust procedures in place to protect your personal information. For details on how TMGM manages your information, please review the Privacy Policy.
Where are my funds held?
TMGM holds client funds in segregated Client Trust Accounts with the National Australia Bank (NAB), an Australian ADI with an AA rating. These funds are managed in strict accordance with client money laws and are kept entirely separate from company funds.
Do you offer negative balance protection?
If your account falls into a negative balance, please contact TMGM’s support team immediately via live chat or email at support@tmgm.com.
What should I do if someone contacts me claiming to be from TMGM?
If you receive any unsolicited or suspicious contact from someone claiming to be a TMGM representative, please contact the Customer Support immediately via Live Chat, telephone, or email before engaging further.
How often should I change my password?
TMGM recommends changing your passwords for both your trading account and TMGM Portal regularly. Ensure your password includes an cuppercase letter, a lowercase letter, a numeral, a special character, and is at least 8 characters long to enhance security.
Can I provide my login credentials to a third party?
TMGM strongly advises against sharing your login credentials for your TMGM Portal or trading account with any third party.
Where can I find your Privacy Policy?
You can find TMGM’s Privacy Policy and other legal documentation here.
What other steps can I take to ensure my data remains safe?
Always use a strong and private internet connection and ensure your devices are protected with adequate anti-virus and firewall protection to safeguard your data.
