How exactly is the brokerage TMGM!Abnormal**, the account manager's dereliction of duty leads to investors' doubts!
TMGM is the abbreviation of TradeMaxGlobalMarkets, so some people in China also call it TradeMax!It is a financial group founded in 2013 in Sydney, Australia, whose main function is to provide customers with financial product trading.
Those who follow Detective should know that because of its frequent incidents and often controversy, it is often mentioned in Detective My articles.
It was exposed that "abnormal**, the account manager was derelict in his duties".
This is not TMGM's investors breaking the news!Here's how it all began
Its order on November 13, on the premise of "take profit and stop loss", held a position over the weekend, but the platform ** was abnormal, affecting the order.
After the incident, the investor took the initiative to inquire with the account manager as soon as possible, but the account manager did not give the platform treatment plan and temporary countermeasures, resulting in the final liquidation of the position without the "take-profit and stop-loss" point set by the investor!And I didn't contact the customer afterwards.
This is the responsibility of the platform, and there is no doubt about it!And it's not over yet!
TMGM has dealt with this anomaly** positively, and has given two measures: directly making up the difference at the current price or resuming the order in a better trading position than you!
However, the account manager was obviously derelict again and did not inform the investors of the platform's handling plan in a timely manner. On the contrary, after the investors themselves found out that there were compensation measures, they rushed to the door and a series of unpleasant quarrels occurred!
In the end, the dispute continued, and the investor was angry, so he sent an email directly to the TMGM headquarters to complain!But what is TMGM?The old readers of the detective must have understood, and sure enough, they didn't get any reply at all!
At least so far, the detective will continue to follow up on this. At the same time, TMGM has once again exposed some problems!
Is the compensation unfair?
TMGM's compensation method for this insurance anomaly has attracted strong attention from detectives!
It actually said that it can "restore orders in a better position than you"!
It is important to know that under normal circumstances, brokerage trading orders cannot be recovered. Once a trade order has been successfully submitted and executed, it will be considered final. Even if TMGM reinstated the order due to a technical problem with the trading platform. Remedies that result in the order not being executed correctly!
Brokers should also try to manually reboot the system or use a backup system to restore orders. The so-called "resuming orders in a better trading position than you" seems to be for the sake of customers, but is it unfair and open in terms of fairness and security?
Triggering a crisis of confidence in its staff
In the above case, a lot of the blame lies with the customer service manager in connection and handling the problem
The plan should have been provided when the customer contacted the customer as soon as the incident occurred, even if the company had not issued the relevant notice, it should have been registered, and the customer should have agreed on a feedback time in advance!However, an even greater dereliction of duty is that after the company has determined the solution, it can actually miss the customer who contacted it in the first place in the implementation process!This is not allowed in any industry, right?
And!TMGM is not alone in hiring unprofessional staff!
**People falsify academic qualifications and make false claims
Earlier, the detective broke the news that he was the best person in China - "Lao Suo Finance".
His real name is - Shi Moumou, who claims to have graduated from Dongbei University of Finance and Economics, and has been active in the industry for 15 years and has rich practical experience!However, the detective did not find this person in the list of graduates of Dongbei University of Finance and Economics in previous years on the academic information network!It is unknown whether this is a fraud in academic qualifications or an early dropout of school!
Moreover, its social platform is full of brainless spicy chicken information, a sense of micro-business reemployment, and what is even more excessive is that the content it publishes is actually fake!
The detective asked, how can the bank transfer information display the "iMessage logo" that only appears when Apple users send messages between users?Why did you switch to Apple instead of sending messages through the banking system at the bank?There are also two accounting formats that will appear in the transfer informationIf you don't fake it, you can come out and be funny!
And that's not all, there's even more outrageous!
TMGM has been featured in the rule of law news many times
TMGM or TradeMax have always been the hardest hit by fake platforms and scams!We often see it in some reports!In some ** and local announcements, it frequently appears as a tool for criminals to commit crimes!
What puzzles the detective is that TMGM does not pay attention to these incidents, nor does he take the initiative to declare them!It's hard to understand why this is the case!
What's even more exaggerated is that he took the opportunity of Nick, the director of the TradeMax platform, to enter Southwestern University of Finance and Economics to mislead college students to open accounts on its platform and broke out a series of problems!In the end, it was characterized as a pig killing plate for investigation, which was officially hammered and publicly reported!
All these detectives want to ask, how can TMGM convince investors?And what kind of reputation is there to talk about?
Recently, the business publicity has touched the red line
TMGM's recent deliberate promotion of "hosting business" has also attracted the attention of detectives!You must know that TMGM is one of the few brokerage platforms that has set up an exclusive official website in China and has stable operation and publicity!
So as a platform operating in Chinese mainland, should it comply with the laws of China?The answer here is clearly yes!Then the relevant publicity and guidance of TMGM's "custody business" obviously touched some restrictions on financial investment in China!
Many countries recognize delegated management in financial investments, that is, the delegated individual can authorize others to handle specific matters or decisions on their behalf by way of delegation or discretionary authority. However, unlike our country, we have strict restrictions and even prohibitions on "entrustment and discretionary entrustment" in financial investment
And TMGM has obviously crossed the line this time, and the detective believes that it should distinguish between different countries in its publicity and operation!
What's even more surprising is that a domestic "Shenzhen Liaoyuan Jutou Culture" actually claims that it can help open an account in TMGM and trade at your own risk, but you will receive a fixed 3% US dollar interest per month. ”
What's even funnier is that the company is a "cultural ***", and its company's only finance-related qualification is "financial property management", which is mainly for the insurance guarantee and related financial affairs of valuable artworks and treasures
I can't meet with the TMGM business in eight lifetimes!The detective thinks that TMGM should have some response to this, after all, this is not outrageous and can be explained!
Corporate Entities and Regulation
Next, let's take a look at the licenses and corporate entities held by TMGM!
ASIC Australia
The first is the corporate entity that holds an Australian ASIC license - TradeMaxAustralia Limited.
As the largest company in the TMGM Financial Group, the company holds licenses to serve both retail and wholesale customers, and is also granted a relatively large number of operating rights. However, due to the regulatory policy of ASIC in Australia and the regional jurisdiction of our country, it is difficult for our people to open an account in Australia.
New Zealand FMA
The company holding the New Zealand FMA license, TradeMaxGlobalMarkets (NZ) Limited, has relatively limited authorization, and is only granted the status of "derivatives issuer"!Therefore, the license is okay for small-scale derivatives trading, but if you want to enter multiple markets, you will touch the dilemma of over-limit operation!
Vanuatu VFSC
As a result, TMGM's TradeMax Global Limited, which holds a VFSC offshore regulatory license for Vanuatu, has become the place where the vast majority of our domestic investors open accounts.
However, offshore regulation often has to face, including regulatory opacity, compliance risks, operational risks, and information leakage risks. In addition, the regulatory standards and regulations in offshore countries may be different from those in China, which may lead to investors facing unacceptable risks.
All in all, investors need to conduct adequate investigation, risk assessment, and seek professional legal and tax advice to be able to invest safely and legally. That's the detectiveBorrowThis investor** summarized TMGM, and the detective will continue to follow up on the relevant content in the future!Thank you for your attention, thank you!