TMGM Review: Is the Edge Account a Real Rival to the Big Australian ECN Brokers?
TMGM prices its Edge account at 0.0 pips plus a $7 commission and holds an ASIC licence alongside three offshore ones. We checked whether that combination genuinely competes with IC Markets and Pepperstone, or trades on the ASIC name while routing most clients through Vanuatu.
Best for: Cost-focused ECN traders who confirm their entity first and accept VFSC oversight if it is not ASIC
TMGM's Edge account genuinely competes on price: 0.0 pips plus a $7 round-turn commission on FX and $5 on metals sits right beside what IC Markets and Pepperstone charge on their raw tiers, and $100 opens it. The catch is which entity actually signs the contract, since ASIC caps retail leverage at 1:30 while the 1:1000 figure in TMGM's marketing belongs to the Vanuatu entity that onboards most clients outside Australia. An Australian resident opening under ASIC gets a fairly priced, protected account. A trader signing up elsewhere is choosing Vanuatu's lighter oversight for that higher leverage, and should weigh the trade honestly.
Price $100 minimum depositMaker Trademax Globaltmgm.com
TMGM markets itself with an ASIC licence front and center, a strong claim in a field where most competitors settle for an offshore registration. The Edge account is the product that has to justify that positioning: raw-style pricing at $100 to open, going head to head with brokers that have built their entire brand on being the cheapest ECN option in Australia. We priced Edge against that field and then traced which regulator actually signs up a trader who lives outside Australia.
Edge prices like it belongs in the conversation
Edge quotes spreads from 0.0 pips and charges $7 per round-turn lot on forex, dropping to $5 on precious metals. Run the math on a standard EUR/USD lot and that lands close to 0.7 pips all-in, competitive with IC Markets' Raw Spread account and Pepperstone's Razor tier, the two names TMGM gets compared against most often. The $100 minimum deposit is unremarkable on its own, but paired with that pricing it makes Edge accessible to a trader who is not ready to fund a four-figure account just to access raw spreads.
Classic sits beside Edge as the no-commission alternative, quoting from 1.0 pip with nothing added on top. It exists for traders who dislike seeing a commission line item, but the math rarely favors it: a EUR/USD trade on Classic costs more once you compare the all-in spread against Edge's combined spread and fee.
Two account types, one MetaTrader stack
Both Edge and Classic run on MT4 and MT5 with the full range TMGM advertises: expert advisor support, an Islamic swap-free option, and a 20 percent stop-out level that gives a leveraged position more room before forced liquidation than some competitors' tighter stop-out thresholds.
