Recommended for
- forex trading 4.1/5
Trusted broker
- Top-tier regulation
- Negative balance protection (terms apply)
Popularity
956
people
chose this broker in the last 6 months
BrokerChooser Score
4.1/5
Our take on Royal
Australian TMGM is a good choice if you are content with CFD/forex trading only and prefer MetaTrader platforms. It has a very strong selection of stock CFDs and a decent offering of forex pairs and stock index CFDs, all at low fees. It’s easy to open and fund your account, and the $100 minimum deposit is reasonable. Still, the lack of assets outside forex, CFDs and crypto will likely deter long-term investors, and the MetaTrader platform is not everyone’s favorite thanks to poor design and limited functionality. Casual traders will be stung by a steep inactivity fee that kicks in after six months or if your account balance is too low.
FX commission per lot
$3.50
Number of currency pairs
50
Minimum deposit
$100
Credit/debit card deposit
$1
Royal pros and cons
Pros
Cons
- Low trading fees
- Easy and fast account opening
- Free deposit and withdrawal
- Slim product portfolio
- Limited research and educational tools
- Inactivity fee
Royal main highlights
🗺️ Country of regulation
Australia, Vanuatu, New Zealand
💰 Trading fees class
Average
💰 Inactivity fee charged
Low
💰 Withdrawal fee amount
$0
💰 Minimum deposit
$100
🕖 Time to open an account
1 day
💳 Deposit with bank card
Available
👛 Depositing with electronic wallet
Available
💱 Number of base currencies supported
6
🎮 Demo account provided
Yes
🛍️ Products offered
Forex, CFD, Crypto
Fees
TMGM has low forex fees. While TMGM doesn’t charge a fee for withdrawals, there’s an inactivity fee if you don’t trade for more than six months.
Account opening
The account opening process at TMGM is user-friendly and fully digital. It was also very quick, as our account was approved within a day.
Deposit and withdrawal
TMGM’s depositing and withdrawal services are great. Many options are available for moving your money in and out, and they are free of charge.
Web trading platform
TMGM uses the MetaTrader web trading platform. It is highly customizable and has a clear fee report, but its design is outdated and it lacks a two-step login and price alerts.
Mobile trading platform
TMGM has a great mobile trading platform, provided by MetaTrader 4. It is well-designed and user-friendly, but lacks a more secure login.
Desktop trading platform
In design and functionality, Royal’s MetaTrader 4 desktop platform is almost the same as the web trading platform. One major difference is that you can set price alerts
Markets and products
At TMGM, you can trade only forex, CFDs and cryptos. This means that many popular asset classes, like real stocks and ETFs, are not available.
Research
TMGM has user-friendly research tools, from trading ideas to an upgraded newsfeed. As a plus, there is a good economic calendar.
Customer service
TMGM has great phone, email and live chat support., which is accessible 24/7.
Education
TMGM provides quality educational texts, webinars and you can use a demo account. On the other hand, there are no tutorial videos and general educational videos.
Safety
TMGM is regulated by several financial authorities, including the top-tier ASIC. On the negative side, there is no investor protection, although TMGM does provide AUD 2.5 million single insurance coverage.