Recalculated 2026-11-02 · Established 2013 · Trademax Global Ltd
TMGM — South Africa
TMGM is rated 2.25 out of 5 by our formula (Rank #63 of 70) for traders in South Africa: round turn 7 USD, residents accepted — Through an offshore entity.
Suits you if a swap-free account is available · it runs 4 trading platforms · it has been trading for 13 years
Look elsewhere if the minimum is 100 USD against 50 USD in this market · it holds no licence issued in South Africa · you are onboarded by an offshore entity, not a local one
Key facts (8)
- Who actually onboards you
- Trademax Global Ltd
- Licence number
- 40356
- Established
- 2013group
- Min deposit, USD
- 100 USDgroup
- Platforms
- MT4 · MT5 · IRESS · TMGM mobile app
- Local funding
- Cards (Visa/Mastercard/UnionPay), Skrill, Netell
- Max leverage
- 1000geo
- EURUSD
- 1.0 pipsgroup
Accounts (2)
2 of 2 accounts with a published cost per lot
2 of 2 shown
Click a column heading to sort. Figures are list terms, no promo codes.
This broker against the South Africa middle (81 of 104)
| TMGM | South Africa median | |
|---|---|---|
| Round turn, USD | 7.0 USD | 7.0 USD |
| Min deposit, USD | 100 USDgroup | 50.0 USD |
| Max leverage | 1000geo | 500.0geo |
| Withdrawal, h | 1-4 business daysgroup | 24.0 h |
| EURUSD, standard | 1.0 pipsgroup | 1.0 pips |
| EURUSD, raw | 0.0 pipsgroup | 0.0 pips |
| Established | 2013group | 2009.0 |
| Platforms | 4 | 3.0 |
Onboards residents through an offshore entity
Offshore (Vanuatu VFSC); not confirmed on the FSCA authorised-FSP register and no statutory local investor-compensation scheme.
56 of 104 brokers in our base hold a licence issued in South Africa. That is a fact about the market, not about TMGM.
- Who actually onboards you
- Trademax Global Ltd
- Licence number
- 40356
- Local licence
- no
- Checked
- 2026-07-09
Score (6/6 axes)
A weighted average of the axes below. Each axis is measured on the same scale as the score itself, and carries the weight shown beside it.
Check:25.0% × 2.50+ 20.0% × 4.50+ 20.0% × 0.00+ 15.0% × 1.00+ 10.0% × 3.25+ 10.0% × 2.50= 2.25
Ranked against brokers measured on every axis
Licence check
- Licence number
- 40356
- Checked
- 2026-07-09
Who actually onboards you
Trademax Global Ltd
Offshore entity
South African retail clients are onboarded under the offshore arm Trademax Global Ltd (Vanuatu); no FSCA-authorised TMGM entity verified at review.
What each account gives you
Classic (commission-free), Edge (raw-spread + commission) and IRESS; min deposit USD 100 (IRESS USD 5,000).
Cost per round turn, and the South Africa middle (81 of 104)
raw+commission
Client-money protections
Min deposit USD 100; e-wallets zero-fee, bank wire ~USD 100 minimum up to ~4 days.
What the broker publishes about payouts
Trading software and asset classes (4)
MT4 · MT5 · IRESS · TMGM mobile app
12,000+ instruments: forex, share CFDs, precious metals, energies, indices and crypto CFDs.
Reviews
Trustpilot|4.0 out of 5|908 reviews
Where it wins, where it loses
Pros (1)
- Swap-free account available
Cons (2)
- Round turn 7.0 USD against a South Africa median of 7.0
- No local licence: the client is onboarded by a foreign entity
Where it does not serve
Afghanistan, Belarus, Central African Republic, Congo, Cuba, Guam, Guinea-Bissau, Iran, Iraq, Japan, Lebanon, Libya, Mali, Midway Islands, Myanmar (Burma), North Korea, People’s Democratic Republic of Yemen, Puerto Rico, Romania, Russia, Singapore, Somalia, South Sudan, Sudan, Syria, U.S. Minor, Outlying U.S. Virgin Islands, Ukraine, United States, Venezuela, Wake Island, Yemen, Zimbabwe, United K
Methodology
the weighted mean of six axes, each on the same 0–5 scale · reviews 25%, cost 20%, safety 20%, payouts 15%, track_record 10%, platforms 10%
Sources (3)
3 sources, read on 2026-07-09. Ordered by weight of evidence: regulator registers first, then the broker's own documents, review platforms and aggregators.
- Regulator registers
- 1fsca.co.zafsca.co.za · domainRegister
- The broker's own documents
- 2tmgm.com/en/about/why-choose-tmgmtmgm.com · pageBroker
- Aggregators and directories
- 3wikifx.comwikifx.com · domainAggregator
FAQ (5)
Does TMGM accept residents of South Africa?
Through an offshore entity.
Which entity onboards a South Africa client of TMGM?
Trademax Global Ltd
What licence does TMGM hold for South Africa?
Licence 40356.
What does one EURUSD lot cost at TMGM?
7.0 USD per round turn against a South Africa median of 7.0 USD, measured on 81 of 104 brokers.
How long does a withdrawal from TMGM take?
TMGM publishes 1-4 business days. Their own wording: “1-4 business days”.