TMGM broker Accounts

tmgm Account Types & Opening Guide 2025: Complete Comparison and Registration Steps

tmgm Account Types Explained

TMGM (Trademax Global Markets) offers a variety of trading accounts tailored to meet the diverse needs of traders, from beginners to seasoned professionals. Below is a detailed overview of the available account types:

1. Classic Account

• Minimum Deposit: $100
• Spread/Commission Structure: Spreads from 1 pip; no commission.
• Leverage Options: Up to 1:500.
• Key Features: Suitable for beginners, offers a user-friendly interface.
• Target User Profile: Ideal for novice traders.
• Trading Instruments Available: Forex, CFDs, commodities, indices, and cryptocurrencies.

2. Raw Spread Account

• Minimum Deposit: $100
• Spread/Commission Structure: Spreads from 0 pips with a commission of $7 round-turn.
• Leverage Options: Up to 1:500.
• Key Features: Best for experienced traders looking for tight spreads.
• Target User Profile: Advanced traders and scalpers.
• Trading Instruments Available: Forex, CFDs, commodities, indices, and cryptocurrencies.

3. Pro Account

• Minimum Deposit: $10,000
• Spread/Commission Structure: Spreads from 0.0 pips with a commission of $5 round-turn.
• Leverage Options: Up to 1:500.
• Key Features: Designed for professional traders with high-volume trading.
• Target User Profile: Institutional and professional traders.
• Trading Instruments Available: Forex, CFDs, commodities, indices, and cryptocurrencies.

4. Islamic Account

• Minimum Deposit: $100
• Spread/Commission Structure: Similar to Classic or Raw Spread accounts, but swap-free.
• Leverage Options: Up to 1:500.
• Key Features: Compliant with Islamic finance principles.
• Target User Profile: Muslim traders who require a swap-free account.
• Trading Instruments Available: Forex, CFDs, commodities, indices, and cryptocurrencies.

5. Demo Account

• Minimum Deposit: N/A (virtual funds).
• Spread/Commission Structure: Similar to Classic account.
• Leverage Options: Up to 1:500.
• Key Features: Allows traders to practice without financial risk.
• Target User Profile: Beginners and those testing strategies.
• Trading Instruments Available: Forex, CFDs, commodities, indices, and cryptocurrencies.

Account Type Comparison Table

Recommended Account Types by Trader Level

• Beginners: Classic Account
• Intermediate Traders: Raw Spread Account
• Advanced Traders: Pro Account
• Muslim Traders: Islamic Account
• Practice Traders: Demo Account

Detailed tmgm Account Features

Account Features Comparison

Advantages of Each Account Type

• Classic Account:
• Low minimum deposit.
• No commission fees.
• User-friendly interface.
• Raw Spread Account:
• Tight spreads for cost-effective trading.
• Suitable for scalping strategies.
• Low trading costs.
• Pro Account:
• Ideal for high-volume traders.
• Lowest spreads available.
• Enhanced trading conditions.
• Islamic Account:
• Compliant with Islamic finance principles.
• No swap fees.
• Flexible trading options.
• Demo Account:
• Risk-free trading environment.
• Practice with virtual funds.
• Access to all trading instruments.

Disadvantages of Each Account Type

• Classic Account:
• Higher spreads compared to Raw Spread Account.
• Raw Spread Account:
• Requires a commission fee.
• May not be suitable for all trading styles.
• Pro Account:
• High minimum deposit requirement.
• Not suitable for casual traders.
• Islamic Account:
• Limited availability of certain trading features.
• Demo Account:
• Limited duration for practice.
• No real financial gains.

tmgm Account Registration Requirements

Eligibility Criteria

• Age Requirements: Must be at least 18 years old.
• Geographic Restrictions: Available to traders in most countries, but not in the United States.
• Prohibited Countries: Specific countries may be restricted; check TMGM's website for the latest information.
• Identity Verification Documents Needed: Government-issued ID (passport or driver's license).
• Proof of Residence Requirements: Utility bill or bank statement showing the trader's name and address.
• Additional Documentation for Professional Accounts: May require financial statements or proof of trading experience.

KYC/AML Compliance Procedures

• TMGM adheres to strict Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations, requiring all traders to verify their identity and residence before trading.

Verification Time Frames

• Account verification typically takes between 1 to 3 business days, depending on the completeness of the submitted documents.

Step-by-Step tmgm Account Opening Guide

Detailed Step-by-Step Registration Process

1. Visit Website and Click Registration: Navigate to the TMGM homepage and click on the “Open an Account” button.
2. Personal Information Entry: Fill in your first name, last name, email address, country, and mobile phone number.
3. Choose Account Type: Select your desired account type (Classic, Raw Spread, Pro, Islamic, or Demo).
4. Set Trading Preferences: Specify your preferred trading platform, base currency, and leverage.
5. Document Upload: Upload the required identification and proof of residence documents.
6. Account Verification: Wait for TMGM to verify your documents.
7. Fund Your Account: Deposit the minimum required amount to start trading.
8. Start Trading: Access the trading platform and begin trading.

Desktop vs Mobile Registration Differences

• The registration process is similar on both desktop and mobile platforms, but the mobile interface may have simplified steps for ease of use.

Common Registration Issues and Solutions

• Issue: Document upload fails.
• Solution: Ensure documents are clear and in the correct format.
• Issue: Verification delays.
• Solution: Contact customer support for assistance.

Average Account Approval Time

• Typically, account approval takes between 1 to 3 business days.

How to Upgrade/Downgrade Account Types

• Traders can contact TMGM customer support to request an upgrade or downgrade of their account type, subject to the new account's minimum deposit requirements.

tmgm Demo Account Guide

Demo Account Features and Benefits

• The demo account allows traders to practice trading strategies without financial risk, using virtual funds.

How to Open a Demo Account

• Visit the TMGM website, select the demo account option, and follow the registration process similar to opening a live account.

Demo Account Limitations

• The demo account may have a limited duration and virtual balance.

Virtual Balance Amount

• Typically, demo accounts come with a virtual balance of $10,000 or more, depending on the broker's policy.

Demo vs Live Account Differences

• The demo account uses virtual funds, while the live account involves real money trading.

Duration/Expiry of Demo Accounts

• Demo accounts usually expire after 30 days, but this can vary based on TMGM's policies.

tmgm Islamic Account Details

Swap-Free/Islamic Account Availability

• TMGM offers a swap-free Islamic account that complies with Islamic finance principles.

Eligibility Requirements

• Traders must declare their need for an Islamic account during the registration process.

Differences from Standard Accounts

• Islamic accounts do not incur swap fees, making them suitable for Muslim traders.

How to Apply for Islamic Account

• Select the Islamic account option during the registration process or contact customer support for assistance.

Restrictions or Special Conditions

• Islamic accounts may have certain restrictions on trading strategies that involve swaps.

FAQs – tmgm Account Types & Opening

1. What account types does tmgm offer？

• TMGM offers Classic, Raw Spread, Pro, Islamic, and Demo accounts.

1. What is the minimum deposit for each account type？

• Classic: $100, Raw Spread: $100, Pro: $10,000, Islamic: $100, Demo: N/A.

1. How long does tmgm account verification take？

• Verification typically takes between 1 to 3 business days.

1. Does tmgm offer demo accounts？

• Yes, TMGM provides demo accounts for practice trading.

1. Can I have multiple account types with tmgm？

• Yes, traders can have multiple account types, subject to the minimum deposit requirements for each.

1. Does tmgm offer Islamic/swap-free accounts？

• Yes, TMGM offers Islamic accounts that are compliant with Islamic finance principles.

1. What documents do I need to open a tmgm account？

• A government-issued ID and proof of residence are required.

1. Can I change my account type after registration？

• Yes, you can request to upgrade or downgrade your account type through customer support.