FX and CFDs Broker TMGM Secures FMA License in New Zealand

TMGM, a Sydney-headquartered Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term and contracts for differences (CFDs) broker, announced on Thursday that it has received a new regulator license from New Zealand’s Financial Markets Authority (FMA).

In the press release shared with Finance Magnates, the broker detailed that its new license has been added as a part of its global expansion endeavour. It will allow the broker to offer regulated forex and CFDs trading services to traders based in New Zealand.

Major Expansion Plans Ahead

TMGM operates in Australia with its Australian Financial Services (AFS) license and is already a big name in that market. So, the expansion to the neighbouring country can be seen as a natural extension.

“This is a key milestone for TMGM,” TMGM’s Chief Marketing Marketing Marketing is defined as the business process of identifying, anticipating and satisfying customers' needs and wants.This is a crucial element of any operation or brokerage in the financial services space. Well-funded marketing campaigns are instrumental to the survival and longevity of these companies in an increasingly competitive industry.Within the forex space, marketers perform a wide range of functions to help procure, secure, or retain clients.In particular, newer forex brokers also have t Marketing is defined as the business process of identifying, anticipating and satisfying customers' needs and wants.This is a crucial element of any operation or brokerage in the financial services space. Well-funded marketing campaigns are instrumental to the survival and longevity of these companies in an increasingly competitive industry.Within the forex space, marketers perform a wide range of functions to help procure, secure, or retain clients.In particular, newer forex brokers also have t Read this Term Officer, Angelo D’Alessio, said on the development. “Expanding our global reach has been an important focus for us.”

TMGM has been vocal about its international expansion plans since late 2020. Apart from the Australian and New Zealand license, the broker is authorized and regulated by the Vanuatu Financial Services Commission (VFSC), under which it onboards most of its global clients.

Formerly known as TradeMax, the brokerage rebranded itself as TMGM, the acronym for TradeMax Global Markets, to better position itself as a global broker. Lee Yu, Chief Executive Officer at TMGM, has additional plans to acquire more licenses in the future to further enhance its global expansion.

Meanwhile, the broker is focused on making its brand stronger with sports sponsorship and inked a multi-year deal last year to sponsor the Australian Open.

“Since the success of the Australian Open sponsorship, widening our reach was a natural step for us in this journey. Securing the FMA license further solidifies our commitment to expanding our offering for New Zealand clients,” D’Alessio added.