TMGM Review 2026
Full TMGM review for Nigeria traders — regulation, spreads, fees and our honest verdict.
Regulation in Nigeria
| Regulator | VFSC — VFSC |
| Licence Number | 40356 |
| Regulated Entity | TradeMax International Ltd |
| Max Leverage (Forex) | 1:500 |
| Minimum Deposit | $100 |
| EUR/USD Spread | From 0.0 pips (ECN/Raw) |
| Instruments | 12,000+ |
| Platforms | MT4, MT5, IRESS |
| Copy Trading | ✗ |
| Real Stocks | ✓ |
| Inactivity fee | No inactivity fee |
Verdict
Regulated by VFSC (licence 40356). Minimum deposit $100. In Nigeria: maximum forex leverage 1:500.
About TMGM
TMGM was founded in 2013 and is headquartered in Sydney, Australia. The broker offers 12,000 tradeable instruments including forex pairs, CFDs on stocks, indices and commodities. It is regulated across multiple jurisdictions with a primary licence held by TradeMax International Ltd under VFSC.
In Nigeria, TMGM operates as TradeMax International Ltd, authorised by VFSC under licence number 40356. Nigeria traders are subject to a maximum leverage of 1:500 on forex pairs under VFSC rules.
Trading Platforms
Pros
- VFSC regulated — licence 40356
- 12,000+ instruments to trade
- Negative balance protection in Nigeria
- Platforms: MT4, MT5, IRESS
- Real stock ownership (not CFD)
Cons
- No inactivity fee
- 76% of retail clients lose money
- CFD trading — you do not own the underlying asset
Frequently Asked Questions
Is TMGM regulated?
TMGM holds VFSC licence 40356, issued to the regulated entity {entity}. This is a real, verifiable licence recorded in the official VFSC public register.
What is the minimum deposit for TMGM in Nigeria?
The minimum deposit is $100. This is the amount required to open a live trading account for traders in Nigeria under VFSC regulation.
What leverage does TMGM offer in Nigeria?
In Nigeria, TMGM offers maximum forex leverage of 1:500 under VFSC rules. Higher leverage may be available through offshore-regulated entities.
Is TMGM safe to trade with?
TMGM is regulated by VFSC, which requires segregated client funds, negative balance protection and independent audits. Regulation does not eliminate trading risk, but it provides meaningful investor protection.
Reader Comments
Loading comments...