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TMGM in South Africa — review, licence and costs
Score (6 of 6 axes scored)
ranked against full-basis brokers
- Reviews25%50
- Round-turn cost20%90
- Safety20%0
- Payouts15%20
- Track record10%65
- Platforms10%50
Numbered by weight: axis 1 counts for most.
Key facts (6 facts)
- Onboarding entity
- Trademax Global Ltd
- Founded
- 2013
- Retail leverage
- 1000ZA
- Round turn
- 7 USDZA
- Currencies
- USD, AUD, NZD and others; no ZAR-denominated account, so rand deposits convert.
- Swap-free account
- yes
"group" marks a figure the broker publishes for the group rather than for this country. It is shown because the broker states it, and it is not ranked, averaged or used to sort.
Licence check
Open an account with TMGMThe broker's own website. Not a partner link — we earn nothing from it.
Who actually onboards you
- Entity that onboards South Africa residents
- Trademax Global Ltd
- Local standing
- Offshore (Vanuatu VFSC); not confirmed on the FSCA authorised-FSP register and no statutory local investor-compensation scheme.
- Licence as the register states it
- Trademax Global Ltd holds Vanuatu VFSC licence No. 40356; no verified FSCA FSP authorisation for TMGM at review.
- Leverage for this entity
- Up to 1:1000 on forex via the Vanuatu entity; not capped by a South African regulator.
- The firm behind it
- Founded 2013, HQ Sydney; multi-asset CFD broker present in 150+ countries.
- What we hold against it
- WikiFX WikiScore ~8.58 but Trustpilot shows withdrawal-fee/blocking complaints; verify FSCA status - offshore entity means no local protection.
Leverage by entity
The licence belongs to the firm; a leverage figure belongs to one entity. Only the entity that onboards South African residents enters the score.
Scale from 1:10 to 1:3000, logarithmic.
Client protection
- Local entity onboards youOffshore (Vanuatu VFSC); not confirmed on the FSCA authorised-FSP register and no statutory local investor-compensation scheme.
- Regulator warning on filenone found
— means the broker does not state it in any source we captured. It is not read as “no protection” and it is not scored.
Price against South Africa market median(priced from 80 of 103)
Medians run over the 80 of 103 brokers that publish a price for South Africa, never over the whole base. A spread without its commission is not a price and is not counted.
Accounts
Account types the broker names for this country: Classic (commission-free), Edge (raw-spread + commission), IRESS, min deposit USD 100 (IRESS USD 5, 000). The figures below are the broker's own and do not differ by account in any source we captured.
Swap-free account terms
Terms read from the account page on 01.10.2026. The cap on open positions is not published.
Where TMGM sits in the South Africa base(103 brokers)
Round-turn cost, USD (80 of 103 priced)
Median 7 USD · range 1-20 · this broker 7 USD · 23 of 103 brokers do not publish it
Minimum deposit, USD (49 of 103 priced)
Median 50 USD · range 0-1000 · this broker 100 USD · 54 of 103 brokers do not publish it
Retail leverage (72 of 103 with a South Africa figure)
Median 1:500 · range 20-5000 · this broker 1:1000 · 31 of 103 brokers do not publish it
Withdrawal time published (103 brokers)
Payouts
Identical for every row: Deposit, h 24 · Fee, USD 0 · Min, USD 50.
Deposit and withdrawal methods (7 methods · 0 local rails)
Cards (Visa/Mastercard/UnionPay), Skrill, Neteller, FasaPay, bank wire and USDT/USDC crypto;
- Cards
- Skrill
- Neteller
- FasaPay
- Bank wire
- USDT
- USDC crypto
- Account currency
- USD, AUD, NZD and others; no ZAR-denominated account, so rand deposits convert.
- Fee declared
- 7 of 7 methods
- Withdrawal back to
- the funding method
Where it does not serve(35 countries)
From the client agreement, clause 2.3. A country missing from a translated page is not read as “served”.
Platforms and markets(4 platforms)
- MT4
- MT5
- IRESS
- TMGM mobile app
Identical for every row: Min spread 1 · Leverage 1000 ZA.
Reviews(1 platform · 25% of the score)
| Snapshot | Rating | Reviews |
|---|---|---|
| 02.10.2026 | 4.0 | 5, 908 |
Share of reviewers in South Africa: — The platform does not publish it.
Pros and cons(3 for and 5 against, each tied to a figure on this page)
- Swap-free account available
- Round-turn cost 90 of 100, its strongest of 6 scored axes
- 4 platforms: MT4, MT5, IRESS, TMGM mobile app
- No South Africa authorisation on file: the entity that onboards you is licensed elsewhere
- Min deposit 100 USD, over the South Africa median 50
- Withdrawal in 96 h, over the South Africa median 24
- The published 1:1000 comes from the group's offshore entity, not from the South Africa one
- Safety 0 of 100, its weakest of 6 scored axes
Alternatives in South Africa(6 of 103 scored in South Africa)
- Round turn, USD
- 7ZA
- Min deposit, USD
- 100ZA
- Leverage
- 200ZA
- Rank in this country
- #41
- Round turn, USD
- 8ZA
- Min deposit, USD
- 100ZA
- Leverage
- 500ZA
- Rank in this country
- #40
- Round turn, USD
- 7ZA
- Min deposit, USD
- 100 groupZA
- Leverage
- 500ZA
- Rank in this country
- #45
- Round turn, USD
- 7ZA
- Min deposit, USD
- 100 groupZA
- Leverage
- 50ZA
- Rank in this country
- #22
- Round turn, USD
- 7ZA
- Min deposit, USD
- 100 groupZA
- Leverage
- 3000ZA
- Rank in this country
- #26
- Round turn, USD
- 9ZA
- Min deposit, USD
- 100ZA
- Leverage
- 400ZA
- Rank in this country
- #9
Methodology(6 axes · formula v1.0)
Score = 2 + 3 × weighted mean of six axes scored 0–100. Range 2.0–5.0. An axis without data drops out and the remaining weights are renormalised; it is never scored zero or estimated. Group-wide figures never enter a South Africa score. Full methodology
| Axis | Weight | What is measured | TMGM |
|---|---|---|---|
| Reviews | 25% | Rating, volume and recency on one public review platform | 50 |
| Round-turn cost | 20% | Round turn on 1 lot EURUSD: spread plus commission, against the country median | 90 |
| Safety | 20% | Local authorisation, the entity that onboards you, any regulator warning | 0 |
| Payouts | 15% | Published withdrawal time, fees and the methods available in the country | 20 |
| Track record | 10% | Years since the firm was founded, from its own filings | 65 |
| Platforms | 10% | Which trading platforms the broker confirms for this country | 50 |
FAQ
- Does TMGM accept residents of South Africa?
- No. Offshore (Vanuatu VFSC); not confirmed on the FSCA authorised-FSP register and no statutory local investor-compensation scheme. Onboarding entity: Trademax Global Ltd
- Is TMGM licensed to serve clients in South Africa?
- Trademax Global Ltd holds Vanuatu VFSC licence No. 40356; no verified FSCA FSP authorisation for TMGM at review. Checked on 09.07.2026.
- How much does one round turn cost at TMGM?
- About 7.0 USD per standard lot on EUR/USD. The median across brokers measured for South Africa is 7.0 USD.
- What leverage does TMGM offer to retail clients in South Africa?
- Up to 1:1000. Up to 1:1000 on forex via the Vanuatu entity; not capped by a South African regulator.
- Which trading platforms does TMGM support?
- MT4, MT5, IRESS, TMGM mobile app. Instruments: 12,000+ instruments: forex, share CFDs, precious metals, energies, indices and crypto CFDs.
- How can I withdraw money from TMGM in South Africa?
- Cards (Visa/Mastercard/UnionPay), Skrill, Neteller, FasaPay, bank wire and USDT/USDC crypto; no verified ZAR instant-EFT rail at review.
- What account types does TMGM offer?
- Classic (commission-free), Edge (raw-spread + commission) and IRESS; min deposit USD 100 (IRESS USD 5,000).
- Does TMGM offer a swap-free (Islamic) account?
- Yes. TMGM offers a swap-free (Islamic) account to South Africa residents.
Taxes for a South African resident(1 rule)
- SARS taxes residents on worldwide income.https://tmgm.com/en/about/why-choose-tmgm
Not tax advice. Check with SARS.