Is TMGM a Scam or Legit?
TMGM holds a valid ASIC licence. The number is public and verifiable.
TMGM is regulated under ASIC licence 436416, issued to TradeMax Australia Ltd. This licence appears in the ASIC public register. TMGM has been operating since 2013 — 13 years. Scam operations do not maintain long-term regulated status.
The ASIC registration
| Regulator | ASIC |
| Licence number | 436416 ✓ |
| Registered entity | TradeMax Australia Ltd |
| Status | Authorised |
| Register | asic.gov.au |
| Years regulated | 13+ |
What ASIC regulation means for you
ASIC-regulated brokers must maintain segregated client funds, meet strict capital requirements, and comply with Australian financial services law. Australia does not have a government-backed compensation scheme like the FSCS, but ASIC enforces high conduct standards.
All regulatory licences
TMGM holds 2 regulatory licences across different jurisdictions. The entity that applies to your account depends on your country of residence.
| Regulator | Licence | Entity | Max leverage |
|---|---|---|---|
| ASIC | 436416 | TradeMax Australia Ltd | 1:30 max |
| VFSC | 40356 | TradeMax International Ltd | 1:500 max |
How to verify TMGM yourself
Go to asic.gov.au. Enter the licence number 436416 or search by entity name TradeMax Australia Ltd. The result should show the entity name, authorisation status, and the specific regulated activities it is permitted to conduct.
This takes under a minute. If a broker cannot be found on the relevant regulator's register, that is a serious warning sign. All legitimate regulated brokers appear there.
Common complaints and what they mean
Most complaints about TMGM fall into standard categories: withdrawal processing times, spread widening during news events, and account verification requests. These are normal business practices, not indicators of fraud.
None of these patterns indicate fraud. They are the normal complaints of a commercial brokerage enforcing its terms. Real forex scams operate without any regulatory licence, refuse all withdrawals, and disappear with client funds. That is not the profile of TMGM.
Red flags that would indicate a real scam
When researching any broker, watch for these genuine warning signs:
- No licence number listed, or a licence that cannot be found on the official register
- Pressure to deposit more money to unlock withdrawals
- Promises of guaranteed returns or "risk-free" trading
- Platform that only shows profits, never losses
- No physical address or contact information
- Licence from a regulator you have never heard of that has no official website
None of these apply to TMGM. Its ASIC licence 436416 is publicly verifiable, it has disclosed offices in Sydney, Australia, and it has operated continuously since 2013.
Frequently asked questions
Is TMGM safe to deposit money with?
TMGM is ASIC-regulated and client funds are held in segregated accounts. ASIC requires segregated client funds and strict capital requirements. This does not eliminate trading risk, but it protects funds from broker insolvency.
Why do people ask if TMGM is a scam?
Most forex scam searches come from traders who lost money trading. CFD trading is high-risk — 71% of TMGM retail clients lose money. Losing money on a legitimate platform does not make it a scam. Scams refuse all withdrawals and disappear. TMGM has processed billions in withdrawals over 13 years of operation.
Is TMGM regulated in my country?
TMGM holds licences covering 36 countries across 2 regulatory jurisdictions. The entity serving your account depends on your country. Check the full licence table above to find which entity applies to your region.
What happens to my money if TMGM goes bankrupt?
ASIC-regulated brokers must hold client funds in segregated bank accounts entirely separate from company operating funds. This means your deposits cannot be used to pay the broker's business creditors if it becomes insolvent.