TMGM Review

TMGM has an attractive education package, though it still trails behind the best brokers in most categories. TMGM offers a small range of assets on 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.

TMGM pros & cons

Pros

• attractive commision rates Edge account.

• Minimum deposit starts at $100 for spread-only or commission-based accounts.

• The TMGM Academy is an impressive educational tool that has interactive content, which we found to be excellent for beginners.

Cons.

• The majority of available assts are on the IRESS platform which is not the best tool for forex trading (and requires a $5000 deposit).

Commissions and fees

TMGM offers competitive commission rates for its Edge account with low spreads.

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 for opening or closing a trade ($7 per total cost for a trade), 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.