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TMGM in Pakistan — review, licence and costs
Score (6 of 6 axes scored)
ranked against full-basis brokers
Key facts (6 facts)
- Onboarding entity
- Trademax Global Ltd
- Founded
- 2013
- Retail leverage
- 1000PK
- Round turn
- 7 USDPK
- Currencies
- USD, AUD, NZD and others; no PKR-denominated account, so rupee deposits convert.
- Swap-free account
- yes
"group" marks a figure the broker publishes for the group rather than for this country. It is shown because the broker states it, and it is not ranked, averaged or used to sort.
Licence check
Open an account with TMGMThe broker's own website. Not a partner link — we earn nothing from it.
Taxes for a Pakistani resident(1 rule)
- Forex/derivatives trading profit for residents is generally taxed as income;https://tmgm.com/en/about/why-choose-tmgm
Not tax advice. Check with the Federal Board of Revenue.
Who actually onboards you
- Entity that onboards Pakistan residents
- Trademax Global Ltd
- Local standing
- Offshore (Vanuatu VFSC); no SECP oversight and leveraged forex with overseas brokers sits in a restricted/grey area under local FX rules.
- Licence as the register states it
- Trademax Global Ltd holds Vanuatu VFSC licence No. 40356; no Pakistani SECP authorisation.
- Leverage for this entity
- Up to 1:1000 on forex via the Vanuatu entity; not capped by a Pakistani regulator.
- The firm behind it
- Founded 2013, HQ Sydney; multi-asset CFD broker present in 150+ countries.
- What we hold against it
- WikiFX WikiScore ~8.58 but Trustpilot shows withdrawal-fee/blocking complaints; offshore, no local recourse; local FX-control caution.
Leverage by entity
The licence belongs to the firm; a leverage figure belongs to one entity. Only the entity that onboards Pakistani residents enters the score.
Scale from 1:10 to 1:3000, logarithmic.
Client protection
- Local entity onboards youOffshore (Vanuatu VFSC); no SECP oversight and leveraged forex with overseas brokers sits in a restricted/grey area under local FX rules.
- Regulator warning on filenone found
— means the broker does not state it in any source we captured. It is not read as “no protection” and it is not scored.
Price against Pakistan market median(priced from 36 of 62)
Medians run over the 36 of 62 brokers that publish a price for Pakistan, never over the whole base. A spread without its commission is not a price and is not counted.
Accounts
Account types the broker names for this country: Classic (commission-free), Edge (raw-spread + commission), IRESS, min deposit USD 100 (IRESS USD 5, 000). The figures below are the broker's own and do not differ by account in any source we captured.
Swap-free account terms
Terms read from the account page on 01.10.2026. The cap on open positions is not published.
Payouts
Identical for every row: Deposit, h 24 · Fee, USD 0 · Min, USD 50.
Deposit and withdrawal methods (7 methods · 0 local rails)
Cards (Visa/Mastercard/UnionPay), Skrill, Neteller, FasaPay, bank wire and USDT/USDC crypto;
- Cards
- Skrill
- Neteller
- FasaPay
- Bank wire
- USDT
- USDC crypto
- Account currency
- USD, AUD, NZD and others; no PKR-denominated account, so rupee deposits convert.
- Fee declared
- 7 of 7 methods
- Withdrawal back to
- the funding method
Where it does not serve(36 countries)
From the client agreement, clause 2.3. A country missing from a translated page is not read as “served”.
Platforms and markets(4 platforms)
- MT4
- MT5
- IRESS
- TMGM mobile app
Identical for every row: Min spread 1 · Leverage 1000 PK.
Reviews(1 platform · 25% of the score)
| Snapshot | Rating | Reviews |
|---|---|---|
| 02.10.2026 | 3.9 | 882 |
Share of reviewers in Pakistan: — The platform does not publish it.
Pros and cons(3 for and 5 against, each tied to a figure on this page)
- Swap-free account available
- Round-turn cost 90 of 100, its strongest of 6 scored axes
- 4 platforms: MT4, MT5, IRESS, TMGM mobile app
- No Pakistan authorisation on file: the entity that onboards you is licensed elsewhere
- Min deposit 100 USD, over the Pakistan median 7.5
- Withdrawal in 48 h, over the Pakistan median 24
- The published 1:1000 comes from the group's offshore entity, not from the Pakistan one
- Safety 10 of 100, its weakest of 6 scored axes
Where TMGM sits in the Pakistan base(62 brokers)
Round-turn cost, USD (36 of 62 priced)
Median 7 USD · range 3-19 · this broker 7 USD · 26 of 62 brokers do not publish it
Minimum deposit, USD (16 of 62 priced)
Median 7.5 USD · range 0-237.2 · this broker 100 USD · 46 of 62 brokers do not publish it
Retail leverage (34 of 62 with a Pakistan figure)
Median 1:750 · range 50-5000 · this broker 1:1000 · 28 of 62 brokers do not publish it
Withdrawal time published (62 brokers)
Alternatives in Pakistan(5 of 62 scored in Pakistan)
- Round turn, USD
- 6PK
- Min deposit, USD
- 100 groupPK
- Leverage
- 500PK
- Rank in this country
- #21
- Round turn, USD
- 6.5PK
- Min deposit, USD
- 100PK
- Leverage
- 500PK
- Rank in this country
- #1
- Round turn, USD
- 9PK
- Min deposit, USD
- 100 groupPK
- Leverage
- 400PK
- Rank in this country
- #5
- Round turn, USD
- 7PK
- Min deposit, USD
- 100 groupPK
- Rank in this country
- #20
- Round turn, USD
- 6PK
- Min deposit, USD
- 0PK
- Leverage
- 500PK
- Rank in this country
- #6
Methodology(6 axes · formula v1.0)
Score = 2 + 3 × weighted mean of six axes scored 0–100. Range 2.0–5.0. An axis without data drops out and the remaining weights are renormalised; it is never scored zero or estimated. Group-wide figures never enter a Pakistan score. Full methodology
| Axis | Weight | What is measured | TMGM |
|---|---|---|---|
| Reviews | 25% | Rating, volume and recency on one public review platform | 45 |
| Round-turn cost | 20% | Round turn on 1 lot EURUSD: spread plus commission, against the country median | 90 |
| Safety | 20% | Local authorisation, the entity that onboards you, any regulator warning | 10 |
| Payouts | 15% | Published withdrawal time, fees and the methods available in the country | 60 |
| Track record | 10% | Years since the firm was founded, from its own filings | 65 |
| Platforms | 10% | Which trading platforms the broker confirms for this country | 50 |
FAQ
- Does TMGM accept residents of Pakistan?
- No. Offshore (Vanuatu VFSC); no SECP oversight and leveraged forex with overseas brokers sits in a restricted/grey area under local FX rules. Onboarding entity: Trademax Global Ltd
- Is TMGM licensed to serve clients in Pakistan?
- Trademax Global Ltd holds Vanuatu VFSC licence No. 40356; no Pakistani SECP authorisation. Checked on 09.07.2026.
- How much does one round turn cost at TMGM?
- About 7.0 USD per standard lot on EUR/USD. The median across brokers measured for Pakistan is 7.0 USD.
- What leverage does TMGM offer to retail clients in Pakistan?
- Up to 1:1000. Up to 1:1000 on forex via the Vanuatu entity; not capped by a Pakistani regulator.
- Which trading platforms does TMGM support?
- MT4, MT5, IRESS, TMGM mobile app. Instruments: 12,000+ instruments: forex, share CFDs, precious metals, energies, indices and crypto CFDs.
- How can I withdraw money from TMGM in Pakistan?
- Cards (Visa/Mastercard/UnionPay), Skrill, Neteller, FasaPay, bank wire and USDT/USDC crypto; no verified PKR local rail at review.
- What account types does TMGM offer?
- Classic (commission-free), Edge (raw-spread + commission) and IRESS; min deposit USD 100 (IRESS USD 5,000).
- Does TMGM offer a swap-free (Islamic) account?
- Yes. TMGM offers a swap-free (Islamic) account to Pakistan residents.
Cost calculator (median of 36 priced of 62)
EURUSD round turns at the prices captured 01.10.2026. Shown in USD only: we do not publish a PKR conversion because the exchange rate is not part of our data.