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TMGM Review
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TMGM Review
TMGM stands out for its impressive education toolset, though it still trails behind the best brokers in most categories. TMGM offers a small range of markets via the MetaTrader 4 (MT4) platform. While primarily a MetaTrader broker, it also offers the more exclusive IRESS platform – though the platform-specific requirements will limit who can use it.To get more news about tmgm review, you can visit wikifx.com official website.
TMGM provides access to dozens of forex pairs and CFDs across its brands regulated in Australia, New Zealand, and Vanuatu, all available via its MetaTrader platform offering. Select clients gain additional access to share trading on its IRESS trading platform.
Cryptocurrency: CFDs are available across 12 cryptocurrency pairs against the U.S. Dollar, including bitcoin, ethereum, link, uniswap, and other popular crypto assets.TMGM offers competitive commission rates for its Edge account with low spreads and no requotes.
Account types: Trading costs at TMGM will depend on whether you choose the spread-only Classic account, or the commission-based Edge account. The Edge account would be my choice, as it only charges a small commission of $3.50 per side ($7 per round trip), in addition to low prevailing spreads.Interest-free accounts: Islamic finance customers seeking Sharia-compliant accounts must choose the Edge account, as swap-free accounts are not available with the Classic option.
Mobile trading apps
With no proprietary mobile app available, TMGM trails behind industry leaders such as IG and Saxo Bank. For our top picks among trading apps, read our guide to Best Forex Trading Apps.Apps overview: Since TMGM is a MetaTrader-only broker, iOS and Android versions of the MT4 app come standard and are both available for download from the Apple App Store and Android Play store, respectively. While TMGM primarily offers the MetaTrader 4 (MT4) mobile app for forex trading, it also offers the IRESS mobile app which contains its full range of CFDs. For this review we focused on TMGM’s MT4 app.
TMGM is primarily a MetaTrader broker, offering the standard, out-of-the-box MT4 experience. Unfortunately, there are no notable add-ons to help TMGM stand out among the best MetaTrader brokers. MetaTrader 5 (MT5) is not available although is expected to be made available at TMGM sometime in 2022.Platforms overview: The MT4 desktop platform is available for the macOS and Windows operating systems straight from the developer, and is provided by TMGM as an installable file once you open a live or demo account. The IRESS platform is primarily for share-trading – it is not optimized for forex trading.
Charting: MT4 is known for offering robust charts with versatile functionality. Zooming in and out and rearranging windows and tabs is a breeze on MT4. It also supports the ability to drag and drop from the default list of nearly 50 indicators.
Trading tools: Forex Virtual Private Servers (VPS) are available at TMGM for traders who are running algorithmic strategies on MT4, and who want to host their platform in a cloud environment that can run 24-7 without interruption. The basic service is free if you deposit $3,000 or trade at least 7 standard lots per month if you are a new client, or deposit $20,000 if you are a high-frequency trader (HFT).
TMGM trails behind the industry average with its research content, and offers little to no market commentary beyond the excellent suite of third-party tools from Trading Central. TMGM’s blog has a good foundation for growth, but many of its articles (besides the Technical Outlook series) lack the images, charts, and tables that typically are found in market analysis updates provided by the best brokers in this category.Research overview: Much of the research content at TMGM is powered by Trading Central (TC), including the Market Buzz and Economic Insight tools. Market Buzz depicts a sentiment-guided heatmap of instruments, whereas Economic Insight is a TC-powered economic calendar. Look to TMGM’s blog for additional features such as pre-session outlooks and fundamental forecasts.
Market news and analysis: TMGM’s blog includes daily market commentary and provides technical and fundamental analysis. Articles are generally consistent in authorship and format. The video content on TMGM’s official YouTube channel lacks variety, consisting mostly of promotional commercials along with a small handful of tutorials and webinars. Expanding the scope of articles and videos would help elevate TMGM’s research offering closer to the industry average.