TMGM All Account Types | Which account is the best for you?

Introducing TMGM (TradeMax) account types.

TMGM is a forex broker established in Australia and has a very high reputation in the world.

Some information is not on the website and it is difficult to obtain the information, but there is also a bonus program and the trading conditions are not bad.

TMGM offers a total of 6 account types.

As I wrote in the separate article “What is TMGM?” And “How to open TMGM account“, the first account you can select is Edge account or Classic account.

You can then change the account type on an application basis or select another account type when opening an additional account.

I recommend that you open an Edge account or Classic account first, and then create an additional account if you want to try using other account types.

In this article, after thoroughly comparing each account type based on specifications and trading conditions, I will clarify the characteristics and precautions for each account type and carefully explain which account is suitable for which type of trader.

TMGM(TradeMax) All Account Types

First, let’s compare the all account types offered by TMGM.

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Let’s take a quick look at what kind of specifications and conditions are different.

Characteristics of each account type

I will briefly explain the characteristics of each account type.

TMGM(TradeMax) Edge Account

Edge account is ECN method account.

Since it is an ECN account, a transaction fee is charged for each trade, but it is a round trip of $7 per lot, which is a normal to slightly cheaper level among forex brokers.

It is worth mentioning that the spread is at least 0.0 pips and the spread of this Edge account is variable, but as far as I use it is usually about 0.0 to 0.1 pips, which is really narrow.

Other conditions are general level.

Maximum leverage is 1:500.

The minimum deposit is $100, so you can start trading with a relatively small margin.

TMGM(TradeMax) Classic Account

Classic account is STP method account.

Spreads are variable, with a minimum spread of 1.0 pips.
There is no transaction fee.

Other trading conditions are the same as Edge accounts.

The minimum deposit is $100, so you can start trading with a small amount of money as well.

TMGM(TradeMax) Standard Account

From here onward, there are account types that can be additionally opened after opening a first account.

First is the Standard account.

Maximum leverage is 1:400.
The minimum spread is 1.6 pips and up, which is a little wider.

The minimum deposit amount is $1000, which is a little higher.

If you are a general trader, I recommend a Classic account with almost the same trading conditions.

TMGM(TradeMax) Premium Account

The Premium account is STP method account, and the transaction conditions are almost the same as the Classic account and Standard account.

The difference is that the spread is narrower.

However, the minimum deposit amount is 50,000 US dollars.

If you have some money to spare, you can trade at a lower transaction cost, so I think it will be an option.

TMGM(TradeMax) Pro Account

Pro accounts are for advanced and professional traders.

The spread is very narrow, with a minimum spread starting at 0.7 pips.

In addition to regular support, professional VIP support and free VPS services are also available.

Please note that the minimum deposit is $ 100,000.

By depositing a large amount of money, you can trade with better conditions and special support.

The maximum leverage is set to 1:200, which is a little low, but it can be said that it is an account for advanced traders who trade with large lots and high frequency by utilizing the amount of funds.

TMGM(TradeMax) Raw Spread Account

Raw Spread account is also for advanced traders.

Raw Spread account is ECN method and offers a round-trip transaction fee of $7 per lot.

However, the minimum spread is 0.0pips, for example EURUSD can always be traded at 0.0pips.
This is almost the same as Edge account.

Other conditions are the same as for Pro accounts, with a maximum leverage of 1:200 and a minimum deposit of $100,000.

VIP support and VPS are also available.

Common Conditions of All Account Types

In addition, I will introduce the specifications that are common to all account types.

TMGM(TradeMax) Base Account Currency

For all accounts, you can choose US Dollars (USD), Euros (EUR), British Pounds (GBP), Australian Dollars (AUD) and New Zealand Dollars (NZD).

You can choose a currency that is easy to manage funds, depending on the currency pair you mainly trade.

TMGM(TradeMax) Trading Platform

TMGM allows to user both of MT4 and MT5.

TMGM(TradeMax) Stop Out Level

Stop out level is 40%.
And margin call is 12%.

TMGM(Trademax) Negative Balance Protection System

Of course, NBP applies to all accounts.

Does TMGM(TradeMax) allow to use EA (Expert Advisor) tool?

Yes, you can use any EA on TMGM.

Does TMGM(TradeMax) allow scalping trading?

TMGM does not prohibit scalping trading.

TMGM stop level of all account types are 0.0 pips.

It can be said TMGM is quite suitable for scalping.

The TMGM stop level is summarized in detail in the separate article “TMGM Stop Level | Conditions for Scalping, Stop/Limit Orders“, so please refer to that as well.

TMGM(TradeMax) Stop Level | Conditions for Scalping, Stop/Limit Orders

I will explain the stop level of TMGM.If the stop level is too wide, it will be disadvantageous for traders who aim for

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The most recommended account types in TMGM(TradeMax) are Classic and Edge account

Considering the transaction conditions and the minimum deposit amount, I recommend the Classic account or Edge account.

Narrow spreads on Pro accounts are attractive for STP accounts, but the minimum deposit of $ 100,000 is too high for general traders.

If you are a typical trader, you must select Classic account or Edge account.

The only difference between a Classic account and an Edge account is how to collect fees, be taken as a spread or as a transaction fee.

In addition, TMGM can create additional accounts, so if you want to create an additional account first and trade for a while, and want to use a different account type, you can create an additional account with different account type and try it.

Summary

How was it.

Information is not easily available, and the type of account is a little quirky, but I think that the trading conditions are not bad.

As for the impression that I used it myself, the quality of support is not bad, so why not try it once.

If you haven’t opened TMGM account yet, please open an account by referring to the separate article “How to open a TMGM account“.

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