TMGM Broker Review - Forex broker chosen by Gianluigi Buffon
Written by:
Written on:
15 August 2022
Last edit:
24 July 2023
Our rating:


User rating:


TMGM Broker Review - Forex broker chosen by Gianluigi Buffon
Written by:
Written on:
15 August 2022
Last edit:
24 July 2023
Our rating


User rating


Trading is risky.
See how TMGM compares to it's closest alternatives.

Main summary

TMGM is a global CFD and Forex broker providing financial services to clients from more than 150 countries. The broker provides access to trading a huge variety of assets. With TMGM you can trade more than 12,000 instruments including Forex CFDs, indices, shares, futures, cryptocurrencies, metals, and energy. 

In 2013 the broker acquired its first trading license from the AFC (Australian Financial Service) and stepped into the world of Forex brokers. As of today, TMGM is authorized and regulated by 3 authorities, namely the Australian Securities and Investments Commission (ASIC), the Financial Markets Authority of New Zealand (FMA), and the Vanuatu Financial Services Commission (VFSC).

Gianluigi Buffon is a very famous football player but very few people know that he is also a professional trader with more than 20 years of experience. In 2021, Buffon signed an Ambassador partnership agreement with TMGM. Keep reading our detailed broker review to find out more about TMGM. We’ll discuss all of the important details and compare broker fees with competitors. 

Here Are the 9 Pros and Cons:

  • Regulated in three jurisdictions
  • Offers access to MetaTrader 4, MetaTrader 5, and the web trading platform called iRESS
  • Charges no deposit and withdrawal fees
  • Offers access to over 12,000 trading assets
  • Reasonable fees
  • Fast and digital account opening/verification
  • 24/7 customer support. Available in more than 10 languages.
  • Limited educational material compared to market leaders
  • $30 inactivity fee per month after 6 months of inactivity when the balance is below $500

TMGM Fact sheet

Main features
Regulations Australia, New Zealand, Vanuatu
Fees on deposits $0
Fees on withdrawal -
Inactivity fees $30/m after 6 months of inactivity
Minimum deposit $100
Minimum account activation $100
Number of available assets 12,000+
Leverage up to 1:500. Maximum leverage for stocks is 20:1
Available trading markets CFDs on Stocks, Commodities, Cryptocurrencies, Forex, Indices
Account currencies USD, EUR, GBP, AUD, NZD, CAD
Demo account Yes
Live account types Edge, Classic
Islamic account Yes
Negative balance protection Yes
Part of compensation fund -
Keeps funds on segregated bank account Yes
Forex 60
Shares 0
Cryptocurrencies 12
Indices 15
Commodities 5
Total 12,000+
Fees & spread
Forex From 0 pips | From 1 pips on Classic account
Shares N/A
Cryptocurrencies From 2.2 pips
Indices From 0.1 pips
Commodities From 0 pips
Platforms MetaTrader 4, MetaTrader 5
Mobile trading support Yes
Mac device support Yes
Commodities Yes
Payment systems
Payment methods Bank Transfer, Broker to Broker, Credit/Debit Card, Fasapay, Neteller, RMB Instant, Revolut, Skrill, UnionPay, Wise
Minimum deposit Bank Transfer, Broker to Broker, Credit/Debit Card, Fasapay, Neteller, RMB Instant, Revolut, Skrill, UnionPay, Wise
Minimum withdrawal Bank Transfer, Broker to Broker, Credit/Debit Card, Fasapay, Neteller, RMB Instant, Revolut, Skrill, UnionPay, Wise
Withdrawal processing time InstantBroker to Broker and Bank Transfer take up to 3 working days. Revolut and WISE take up to 1 working day.
Time to open an account -
Show all

The Safety & Security of TMGM

When choosing a broker, it’s extremely important to pick a company to which you can entrust your hard-earned money. There’re a couple of indicators that can give you clues on the safety and security of certain brokerages. The first and foremost is regulatory compliance. 

TMGM is authorized and regulated by several authorities:

  • The Australian Securities and Investments Commission (ASIC) - a top-tier regulator
  • The Financial Markets Authority of New Zealand (FMA)
  • The Vanuatu Financial Services Commission (VFSC)

Due to the fact that the broker is regulated by trustworthy financial institutions, it is considered safe.

Policies that TMGM follows

TMGM provides Negative Balance Protection. This is done because CFD and Forex trading is a highly leveraged and risky business as traders use borrowed money to buy and sell assets. Low liquidity, high leverage, and high volatility can create conditions for losing more money than is on the traders’ account balance. To counter this, brokers use Stop Out levels and guarantee that your account will never go into a negative. 

TMGM offers a 40% Stop Out level for both their Edge and Classic account types. A 40% Stop Out level simply means that whenever the trade goes against your prediction and reaches 40% of the margin, the broker automatically closes the position. Even if an unlikely event happens and your account goes negative, you can contact the customer support of TMGM and they will clear it up. 

What’s more, TMGM keeps your funds in segregated accounts. Some low-trust brokers keep clients’ funds mixed with their own, making funds easily accessible to themselves. TMGM keeps your funds in an Australian-authorized deposit-taking institution that has an AA rating. The money is kept in segregated accounts with the National Australia Bank (NAB).

Available Assets on TMGM - What Can You Trade?

There are over 12,000 trading instruments offered by TMGM, although their portfolio mostly consists of CFDs. CFD trading allows you to benefit from asset price fluctuations without actually owning the asset. 

CFD trading is characterized by higher liquidity and tighter spreads due to the fact that a lot more traders are exchanging CFDs daily than actual assets. In addition, you can go short or long to benefit from a price change. 

Keep in mind that while CFDs are great instruments for benefiting from short-term price fluctuations, they are not as good when it comes to long-term trading due to swap fees. 

Each asset class offered by TMGM has its own spreads, commissions, and leverage. Let’s discuss each in detail to paint a clearer picture.


TMGM provides access to trading more than 60 currency pairs. Offered currency types include a mix of majors, minors, and exotics pairs

Spreads and commissions are based primarily on an account type. A commission-free account offers spreads starting from 1 pip. As for the 0 pip account, the commission charge is $7 (round-turn). 

The leverage offered for trading currencies goes up to 500:1. Keep in mind that high leverage is a double-edged sword and it’s the number one reason why most novice traders blow up their accounts. 

The broker has 10+ top-tier Forex liquidity providers. Liquidity is important in the world of trading as it gives you access to trading using the best prices.


With TMGM traders can access more than 10,000 shares as CFDs from various parts of the world. The accessible markets include: 

  • NYSE (US) - 2,400 companies.
  • NASDAQ (US) - 3,500+ companies.
  • ASX (AU) - 2,000+ companies.
  • HKEX (HK) - 2,000+ companies. 

As already mentioned, CFDs give you an opportunity to benefit from price movement in both directions without owning an actual asset. In addition to that, Stock CFD trading requires less investment to acquire the same amount of stocks due to being able to access higher leverage. The leverage when trading stocks using MetaTrader is 20:1. As for the iRESS web trading platform, the maximum leverage offered is 10:1.

TMGM passes dividends earned by the stocks to its CFD holders. Dividends are profits shared with the company's shareholders. Typically dividends are paid annually. 


Indices measure the performance of certain baskets of stocks, industries, and economies, and indicate the economic climate of a specific market as a whole. For instance, the FTSE100 or UK100 index consists of 100 top British publicly traded companies and shows their collective performance. A bullish UK100 can indicate that the economy of the UK is in a good condition and investing in the British pound or UK-based companies might be a good idea. Therefore, indices are often used as economic indicators.

Furthermore, indices not only give a clear picture of the economy as a whole but they can also be traded as CFDs. TMGM offers more than 15 indices such as the Dow Jones Index (US30), S&P 500 (US500), DAX (GER30), FTSE (UK100), Nikkei (JPN225), and more. 

The maximum leverage offered for trading indices is 100:1. Commissions charged are 0 and spreads start from as low as 0.1 pips. Keep in mind that the 0.1 number is just a broker’s markup charged for providing financial services and in a live trading environment, the spreads might be higher. 


Commodities are raw materials that are transformed into consumer goods later. Commodities that can be grown are also known as soft commodities. Commodities that are mined are called hard commodities. Commodity prices are generally influenced by demand and supply.

TMGM offers access to trading commodity CFDs such as precious metals and natural resources. However, you can still invest in soft commodities by trading company shares that are linked to agriculture.

Spreads for metal CFDs such as gold, silver, and platinum start from 0 pips. Maximum leverage is up to 400:1. Precious metals offer good investment opportunities in times of inflation as investors hedge their risks by acquiring them. When something is in demand, its price increases. However, as already mentioned, CFDs are best for trading short-term and not particularly good for investing long-term. Precious metals generally offer low volatility, which means intraday traders might find it difficult to trade them for a profit.

As for natural resources, you can trade oil and natural gas CFDs. Spreads for these assets are starting from 0.2 pips and the leverage offered is up to 100:1. The broker gives you access to trading both WTI Crude Oil (XTI/USD) and Brent Crude Oil (XBR/USD). 


Speculators can trade crypto CFDs with TMGM. Trading crypto CFDs come with certain benefits over trading actual coins:

  • No need for a crypto wallet since you’re not owning an actual asset.
  • Easy cash out. No need to look for a crypto ATM.
  • Higher leverage.
  • Better liquidity and tighter spreads.
  • Can go long or short. 

The broker gives its clients access to trading the 12 most popular cryptocurrencies. The list includes Bitcoin, Ethereum, BNB, Litecoin, and more. The leverage offered goes as high as 20:1, which is pretty high leverage for cryptos compared to what other brokers are offering.

What’s more, crypto trading is available 24/7, whereas most other assets are tradable 24/5.

Which Account Types Are Offered by TMGM?

Traders differ in terms of their experience, trading style, and preferred timeframes. In order to meet the needs of different traders, TMGM offers Edge and Classic account types. swap-free

We’ll discuss them each in detail to make choosing easier for you. In addition, we’ll also talk about Islamic and demo accounts offered by this broker. 

Pros & cons of TMGM account types

All account types are ECN. No requotes in price. No micro account
Only $100 is required to open any type of account. 
Access to swap free, Islamic accounts. 
A large number of account currencies 

Demo account of TMGM

Demo trading is available on both account types. A demo account simply gives you the ability to experience trading using virtual money. 

Most Forex demo accounts are free of charge and they can give you a number of advantages. First and foremost, you can become familiar with using the trading platform, which is especially important to novice traders. What’s more, a demo account sheds light on the broker’s policies, spreads, commissions, instruments, and execution.

In addition, demo accounts are widely consumed by professional traders for refining their trading strategies. Market conditions often change and strategies age, it’s wise not to risk your hard-earned money without having a working strategy.

Edge account of TMGM

The Edge account is accessible using both MetaTrader platforms. The account is suitable for high-frequency traders, scalpers, and some intraday traders as the spreads start from 0 pips. The broker gets paid by charging a $7 commission per lot (round-turn).

Maximum leverage is 500:1. As you may already know, high leverage can increase your profits and losses. To keep your funds from going negative, this account type offers a 40% Stop Out level. 

You can choose between 6 account currency types: USD, EUR, GBP, AUD, NZD, and CAD. Note that by choosing the currency type you use the most, you can save on fees for conversions. 

The Edge account provides access to trading more than 55 FX pairs, 15+ indices, 50+ stock CFDs, 12 cryptos, and 6 commodities.

Classic account of TMGM

The Edge account and Classic account have a lot in common. They both offer the same amount of leverage, account currencies, instruments, leverage, Stop Out level, and trading platforms. 

Now let’s talk about the differences. The main difference is the way fees are charged. Spreads for this account start from 1 pip and there’s no commission to be paid. As a result, the account type is best for position traders that take less and more calculated trades. Low-frequency traders don’t mind paying a little bit more spread each time they open trade as long as they are charged no commission. 

Islamic account of TMGM

Islamic accounts are made for traders that are prohibited from paying or receiving interest due to their religious beliefs. The Islamic account version is available for both Edge and Classic account types.

The TMGM’s Islamic or swap-free account charges no interest for keeping an overnight position. What’s more, there are no additional fees on major or minor currency pairs.

In order to collect revenue and keep providing financial services, the broker applies fixed finance fees to various trading instruments. For example, oil and gas are charged $10 per lot traded, with most exotic pairs being charged $20 per lot.

Be informed that the account type isn’t available in most parts of the world. It is only accessible to clients from several Muslim countries, including Turkey, Azerbaijan, Bangladesh, Algeria, Egypt, Kuwait, Marocco, and more.

Getting started on TMGM - Main steps

Account opening is intuitive and you shouldn’t find any difficulty while registering as a trader. The process is fully digital and takes a couple of steps. 

In case you’ve already decided to open an account with TMGM, we’ll guide you through the entire process in detail. 

Step 1: Choose & create your account

Before you get started, please keep in mind that the minimum initial deposit required is $100. In addition, you should think about how much leverage you want. The broker offers up to 500:1 leverage. The bigger the leverage the bigger the risks and rewards. 

In order to get started, press the OPEN AN ACCOUNT button on the broker's website. You should be able to see the application form next. By filling in the application, you’ll be transferred to the account configuration page where you can select an account type, account currency, and leverage. As a reminder, Edge accounts are for high-frequency and day traders. Whereas Classic accounts are for position traders and some day traders.

XMGM - open an account.JPG

Step 2: Verify your account

You may feel discouraged as It takes time for you to collect all of the important documents required and for the broker to verify your account but it's a crucially important task.

Verification increases the safety of your account. The broker trusts you more and grants access to all of the client cabinet features, such as the ability to withdraw funds. 

There are two simple documents required from you, namely proof of ID and proof of residency. 

For proof of ID, a government-issued passport, ID, or driver’s license is valid. As for the proof of residence, you can use utility bills, bank statements, and landline line phone bills. 

You can scan the documents or take a digital photo using your mobile phone. Just make sure the photo quality is good and your name and document issuer is clearly visible, with no shadows or light reflections. 

XMGM - Verification.JPG

Step 3: Download the trading platform and deposit funds

You can choose between MetaTrader 4 and MetaTrader 5 trading platforms to install on your PC. There are web and mobile platforms available as well. 

After the verification process is completed, you’ll be able to deposit funds into your trading account. 

The broker doesn’t charge any deposit and withdrawal fees. However, withdrawal using a bank transfer might be subject to intermediary bank charges. 

Most deposit options are instant. Bank transfers and broker-to-broker transactions might take up to 3 days. Withdrawals take 1 working day to be processed. 

XMGM - Deposit.JPG

Step 4: Start analysis & trading

The final step is to start analyzing the markets and placing orders. Successful traders plan their trades and trade their plans. Most novice traders try to get rich quickly and take big risks. Trading requires hard work and dedication. What’s more, it’s important to develop the discipline to not let emotions dictate your actions. 

Fees & Commissions

Fees and commissions charged by TMXM are fairly average compared to the industry prices. 

There are two types of accounts to choose from:

  • Commision-free accounts charge a spread of 1 pip.
  • 0 Spread account charges a $7 commission per lot (round-turn).

What’s more, there are no deposit or withdrawal fees. On the downside, traders are charged inactivity fees. 

Inactivity fee

The Inactivity fees charged by this broker are large compared to other Forex brokers. In case you are going to open an account with TMGM, make sure you don’t leave your account inactive for more than 6 months. 

A monthly account maintenance fee of $30 per month will be deducted from the account balance after 6 months of inactivity if the account balance is below $500 of the account currency. 

Comparing TMGM fees with other brokers

As already mentioned, TMGM fees are average compared to other Forex brokers. In order to get a clearer picture, let’s take a look at the comparison.

TMGM fees compared to Interactive Brokers fees

Type of FeeTMGMInteractive Brokers
EUR/USD SpreadFrom 1 pipFrom 0.6
Fees on DepositsNo1%
Inactivity feeYes, $30 per month after 6 months, if the account is below $500.No*

*Inactivity fee was eliminated by IB in 2021, it used to be $20/m

TMGM fees compared to eToro fees

Type of FeeTMGMeToro
EUR/USD SpreadFrom 1 pipFrom 1
Fees on DepositsNo$5 on withdrawals
Inactivity feeYes, $30 per month after 6 months, if the account is below $500.Yes, $10/m

TMGM fees compared to IG fees

Type of FeeTMGMIG
EUR/USD SpreadFrom 1 pipFrom 0.8
Fees on DepositsNoNo
Inactivity feeYes, $30 per month after 6 months, if the account is below $500.Yes, $10/m

Trading Platforms of TMGM Reviewed

TMGM offers the most popular Forex trading platforms: MetaTrader 4 and MetaTrader 5. Both platforms have a lot in common but MT4 is much older and simpler to use, thus a preferred choice for Forex traders and beginners. Whereas MT5 is 5 years older and provides access to more asset classes. 

Both platforms support algorithmic trading using Expert Advisors. 

The broker also offers a web-based trading platform called iRESS. The platform is unique in the sense that it gives traders access to trading more than 2,400 company CFDs that are traded on the NYSE, 3,500 NASDAQ stock CFDs, 2,000+ AUX stock CFDs, and 2,000+ HKEX stock CFDs.

Mobile Experience

In addition to web-based and PC trading software, traders can download mobile applications to keep an eye on their orders, fund and withdraw money from their accounts and open and close trades. 

Education & Research Tools

TMGM provides extensive tools for conducting market analysis including an economic calendar, Forex VPS, market sentiment tool, Trading Central, TMGM Academy, and glossary. 

What’s more, the broker offers online seminars and webinars. Traders can even register on webinars hosted by the football legend Gianluigi Buffon himself. 

XMGM - Webinar.JPG

Customer Support of TMGM

The customer support of the TMGM is very professional and friendly. Traders can contact the broker via phone, send them an email, or chat online. 

The online chat option is available via various sources. You can contact the customer support team agents using Telegram, WhatsApp, or Messenger or directly text them from the main web page chat window. What’s more, the support is online 7 days a week, 24 hours a day. In addition, customer service is available in more than 10 languages. 


To sum everything up, TMGM has a wide range of trading instruments to choose from, offers access to the most popular MetaTrader platforms, and offers impressive customer support. Let’s not forget the broker gets us closer to our favorite football player, Gianluigi Buffon. 

On the other hand, the fees and regulation levels are just average, and the inactivity fees are high. Also, there are no micro accounts offered. On the bright side, the account types are suitable for intraday and position traders. 



Average based on 7 user reviews
Safety 6.29
Assets 7.14
Accounts 6.29
Fees 5.14
Desktop platforms 6.57
Mobile platforms 6.57
Education 5.71
Support 6.29
Have experience with TMGM? Log in to leave a review
aubrey.hart reviewed 481 days ago
no experience


Average: Desposits were not being accepted
I could not trade so can't say I liked anything
My deposits were not being accepted, even after I passed all verifications needed. Support was not helpful at all
bailey.johnson reviewed 481 days ago
Live 1-3 months experience, $5,000+ account size


Good: Great for trading shares
I was interested in US stocks and found this broker. I now can trade them easily and I love it. I thought registration and account opening would be more difficult than it actually was.
I think traders would be glad to receive more educational material. Especially for trading shares. Most of the info I google and watch youtube but it would be nice if broker was helping. reviewed 481 days ago
Live 1-3 months experience, under $1,000 account size


Good: Very mediocre with high fees
Nothing stood out to me, which is a shame
Fees can be a bit stiff. Customer support isn't a gift either
guinevere.curry reviewed 481 days ago
no experience


Average: I wasn't able to find out what the does TMGM means :X
Average terms and conditions for traders, including average spreads and commissions
My neighbor's turtle is faster than their website, srly make sure you don't stop trading or inactivity fees are at work
turner.clay reviewed 481 days ago
Live Less than a month experience, $1,000 - $5,000 account size


Good: Overall, good broker but a bit high fees
I like that there are many assets to trade, and customer service was fine.
I think trading fees are a bit high. I've traded with other brokers too, and I've definitely experienced lower fees in the past.
jenson.harris reviewed 481 days ago
Demo Less than a month experience


Good: Solid broker for experienced traders
Good customer support and charges adequate fees.
Educational materials are a bit scarce. Would like to see more content.
zeph.simon reviewed 481 days ago
Live 3-6 months experience, $5,000+ account size


Good: Good broker for mobile trading
For me, the best part about TMGM is their mobile trading app as it is easy to use and has everything you would need for mobile trading
Fees can be a little high


Is TMGM regulated?

Yes, TMGM is regulated by the Australian Securities and Investments Commission (ASIC), the Financial Markets Authority of New Zealand (FMA), and the Vanuatu Financial Services Commission (VFSC).

Why is Gianluigi Buffon hosting TMGM webinars?

Very few people actually know that Gianluigi Buffon has more than 20 years of experience in trading and that in 2021, he signed an ambassador partnership agreement with TMGM.

What trading platforms are available at TMGM?

TMGM offers MetaTrader 4, MetaTrader 5, and a web-based trading platform called iRESS. MetaTrader platforms provide access to various asset classes, but the number of stock CFDs offered by the iRESS platform is much higher. iRESS gives traders access to more than 10,000 stock CFDs.