TMGM — South Africa
Key facts (8)
- Who actually onboards you
- Trademax Global Ltd
- Licence number
- 40356
- Established
- 2013group
- Min deposit, USD
- not stated
- Platforms
- MT4 · MT5 · IRESS · TMGM mobile app
- Local funding
- Cards (Visa/Mastercard/UnionPay), Skrill, Netell
- Max leverage
- 1000geo
- EURUSD
- 1.0 pipsgroup
This broker against the South Africa middle (60 of 104)
| TMGM | South Africa median | |
|---|---|---|
| Round turn, USD | 7.0 USD | 7.0 USD |
| Min deposit, USD | no data | 50.0 USD |
| Max leverage | 1000geo | 500.0geo |
| Withdrawal, h | 1-4 business days hgroup | 24.0 h |
| EURUSD, standard | 1.0 pipsgroup | 1.0 pips |
| EURUSD, raw | 0.0 pipsgroup | 0.0 pips |
| Established | 2013group | 2009.5 |
| Platforms | 4 | 3.0 |
Accepts residents of South Africa
Through an offshore entity
Score (5/6 axes)
Shown, not ranked: no review-platform rating
Licence check
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.
Cost per round turn, and the South Africa middle (60 of 104)
raw+commission
The numbers across South Africa
Round-turn cost, USD (60 of 104)
Median 7.0 · Range 1.5–20.0 USD
Minimum deposit, USD (36 of 104)
Median 50.0 · Range 0.0–1000.0 USD
What each account gives you
Classic (commission-free), Edge (raw-spread + commission) and IRESS; min deposit USD 100 (IRESS USD 5,000).
What the broker publishes about payouts
Reviews
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.
Trading profits and South Africa tax
SARS taxes residents on worldwide income. Frequent/active forex trading is generally taxed as income at the individual's marginal rate (progressive 18%-45%), not as capital gains. Active traders typically register for provisional tax (IRP6 due end-Aug and end-Feb, plus a third top-up if owing) and file the annual ITR12; trading-related expenses are deductible. Rates/brackets change annually - pres
Where it wins, where it loses
Pros (1)
- Swap-free account available
Cons (4)
- Round turn 7.0 USD against a South Africa median of 7.0
- No local licence: the client is onboarded by a foreign entity
- No public review-platform rating, so the review axis is absent
- Minimum deposit for this country not published
The rest of the shortlist in South Africa (6)
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
2 + 3 × weighted mean of six axes · reviews 25%, cost 20%, safety 20%, payouts 15%, track_record 10%, platforms 10%
Verified · what changed · sources (3)
Checked: 2026-07-09
- tmgm.com/en/about/why-choose-tmgm page
- fsca.co.za domain
- wikifx.com domain
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 60 of 104 brokers.
How long does a withdrawal from TMGM take?
1-4 business days hours as published. 1-4 business days