Three dated TMGM complaints posted within 13 days in August 2026 allege an original deposit was withheld, a withdrawal remained blocked for two months and copy-trading profits were removed. TMGM held a 3.9 out of 5 Trustpilot rating across 1,012 reviews in the supplied research. The claims have not been independently adjudicated and should not be read as regulator findings.
Reviewer Says Original Deposit Was Withheld
Torben wrote from Germany on 23 August that TMGM closed an account over what it called prohibited trading styles. The reviewer alleged that the broker then refused to return the original deposit, not only disputed profit, while requesting notarized documents before processing a refund.
The reviewer described notarization as a delaying tactic and said the matter would be escalated to the Australian Securities and Investments Commission and Vanuatu Financial Services Commission. The supplied material did not include a public TMGM response to this complaint or a regulator decision.
$1,000 Withdrawal Allegedly Blocked for Two Months
A reviewer identified as What wrote from Indonesia on 22 August that a $1,000 withdrawal remained blocked for two months after two rounds of know-your-customer checks. TMGM was said to have described the account as under investigation without giving further detail.
Phu Quy wrote from Vietnam on 11 August that profits generated through TMGM's copy-trading service were removed and questions remained unanswered. TMGM replied that accounts are assessed individually against its terms and that action is taken where activity conflicts with those conditions. It directed the reviewer to private support.
The Account's Legal Entity Determines Recourse
TMGM operates through entities in Australia, Vanuatu, Seychelles and Mauritius. Its Australian company, Trademax Australia Limited, holds ASIC AFSL 436416. A customer routed through an offshore entity does not automatically receive the same complaint mechanisms or protections as an Australian account.
Three reviews cannot establish a firm-wide practice. Their timing and shared focus on inaccessible money nevertheless justify checking the account entity, prohibited-strategy clauses, investigation deadlines and withdrawal documentation before depositing.
BestForex.io View
An allegation that original capital was withheld is more serious than an ordinary dispute over bonus profit. Add a two-month investigation with no stated end date and removed copy-trading profit, and the concentration of complaints warrants a detailed public response. TMGM's ASIC licence is real, but traders must confirm whether their own contract is actually with the Australian entity.
About TMGM
Trademax Australia Limited
AFSL 436416
Vanuatu, Seychelles and Mauritius
Forex and CFDs
Frequently Asked Questions
Is TMGM regulated?
TMGM's Australian entity holds ASIC AFSL 436416. Other group entities operate in Vanuatu, Seychelles and Mauritius, so protection depends on the contracted company.
What do recent TMGM complaints allege?
Three August 2026 reviews allege an original deposit was withheld, a $1,000 withdrawal remained under investigation for two months and copy-trading profits were removed.
Did TMGM respond?
TMGM answered the copy-trading complaint by referring to individual assessment under its terms. No detailed public response to the two larger withdrawal claims appeared in the supplied material.
Compare TMGM with other firms in the Best Forex Brokers in 2026 directory.