TMGM (formerly known as TradeMax Global Markets) is a multi-regulated forex broker with a powerful presence in Australia and New Zealand. We found has low spreads with ECN pricing, MetaTrader 4 and DMA execution for stocks with IRESS.
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TMGM Summary
While TMGM has the features we expect to see in a no dealing desk ECN style broker like MT4 and MT5 platforms, competitive RAW spreads and a good range of trading instruments including over 60 Forex pairs, there are some features that will stand out. These include OneZero Financial technology for fast execution and the IRESS trading platforms for CFD shares trading.
Despite being a good broker overall and one we are happy to recommend, TMGM does lack social trading options and education tools, you will also find there is a small inactivity fee.
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If you’re serious about forex trading, make sure you consider the spreads a broker offers before committing to it. Spreads are the difference between the ask (sell) price and the bid (buy) price for a forex pair. Or, if you prefer to trade a position, the difference between the short position and the long position.
Most brokerage platforms have similar features, however, one aspect that can separate one broker from another are the spreads. TMGM is a no dealing desk broker that uses electronic communication network (ECN) trading execution. They work with the best ‘prime of prime’ liquidity providers connecting investment banks and non-bank market makers and aggregating the quote they provide into one liquidity pool. This allows TMGM to deliver some of the best ECN pricing in the market.
Spreads are expressed as pips, which stand for a point in percentage. One pip equals 1/100th of a percent. Keep in mind that even though pips are tiny numbers, they can quickly add up if you do a lot of trading.
TMGM offers decent spreads, with a low of 0.0 pips with their Edge account and 1.0 pips for the standard account.
Edge Account vs Classic Account
The Edge account is TMGM’s true ECN account since there is no dealing desk. With this account, you will find TMGM’s lowest spreads. The Classic account is TMGM’s spread only account. This means the spread includes the commission cost.
Edge Account Spreads
This account has TMGM’s lowest spreads since it uses ECN execution to source spreads directly from liquidity providers. Since there is no dealing desk, it could be said this account offer ECN pricing. To highlight that there is no interference with pricing from the broker, some other brokers call this type of account the RAW account.
To keep spreads low and true to the quotes provided by liquidity providers, a commission of $3.00 to open and close a position is also charged.
Each month, we compile the average spreads brokers list on their website for major forex pairs. The table below compares the average spreads for major forex pairs. As you can see, the average spread for the most popular pair (EURUSD) is exceptionally tight and the best in the market.
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ECN Broker Spreads
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0.19 | 0.38 | 0.10 | N/A | 0.21 |
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0.23 | 0.20 | 0.06 | 0.42 | 0.27 |
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0.20 | 0.30 | 0.10 | 0.30 | 0.20 |
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0.40 | 0.60 | 0.10 | 0.40 | 0.20 |
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0.20 | 0.30 | 0.20 | 0.40 | 0.20 |
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0.50 | 0.60 | 0.30 | 0.50 | 0.50 |
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0.30 | N/A | 0.30 | 0.50 | 0.40 |
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0.20 | 0.83 | 0.44 | 0.40 | 0.42 |
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0.24 | N/A | 0.17 | 0.54 | 0.30 |
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0.30 | 0.70 | 0.20 | 0.50 | 0.40 |
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0.30 | 1.10 | 0.10 | 0.60 | 0.50 |
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n/a | 0.30 | n/a | 0.60 | 0.50 |
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0.77 | 1.41 | 0.44 | 1.13 | 1.23 |
Avg. spreads are taken from each broker's website and updated monthly. Last update on 09/01/2024
Classic Account Spreads
This account has no commissions since the broker’s fees are included in the spreads. Most brokers call this their standard account.
Spreads with this account start from 1.0 pip, which is quite high compared to the Pepperstone Review and IC Markets Review, as well as some market maker brokers as shown in the Markets.com Review.
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Standard Account Spreads
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1.00 | 1.11 | N/A | 1.32 | 1.09 |
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1.10 | 1.20 | 1.40 | 1.40 | 1.40 |
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1.13 | 1.01 | 1.71 | 1.66 | 1.12 |
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0.90 | 1.30 | 1.40 | 1.40 | 1.40 |
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0.70 | 2.20 | 1.10 | 1.10 | 0.60 |
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1.20 | 0.90 | 1.50 | 1.80 | 1.80 |
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1.20 | 1.40 | 1.50 | 1.60 | 1.50 |
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0.60 | 0.70 | 0.80 | 0.90 | 0.60 |
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1.10 | 1.20 | 1.30 | 1.30 | 1.30 |
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1.20 | 1.30 | 1.20 | 1.30 | 1.10 |
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1.70 | 1.60 | 1.70 | 2.00 | 1.60 |
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1.20 | 1.80 | 1.90 | 1.90 | 1.60 |
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1.30 | 1.70 | 2.10 | 1.40 | 1.50 |
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1.12 | 1.64 | 1.30 | 1.30 | 1.38 |
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1.32 | 1.95 | 1.37 | 1.70 | 1.40 |
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1.20 | 1.30 | 1.50 | 1.30 | 1.20 |
Avg. spreads are taken from each broker's website and updated monthly. Last update on 09/01/2024
Account Types
TMGM offers multiple trading accounts that provide you with the features and functionalities you need no matter what your trading experience level is. Whether you’re a long-term investor or a day trader, TMGM has a trading account designed for your needs. Users have the choice between a TMGM Classic account and a TMGM Edge account.
The minimum deposit when opening an account start is $100, however, higher amounts may be needed to execute a trade. This is because you will still need to meet margin requirements. The Classic account does not charge a commission, however, you’ll experience higher spreads. Comparatively, Edge accounts require a $7 commission fee with tighter spreads. Regardless of the account type you select, you’ll have ECN execution with a 0.01 minimum lot size.
Classic Account
TMGM’s Classic account type offers spreads from 1 pip. However, no commission fees are included, since they’re already part of the spread. The Classic account type is ideal for anyone who prefers to use mid or long-term strategies that aren’t spread dependent.
Classic account features include the following:
Edge Account
By comparison, the TMGM Edge account offers the site’s lowest spreads, which start at 0 pips. Users will pay a $7 commission round turn ($3.50 one way) for each standard lot.
The Edge account is the account that most closely resembles ECN trading since there is no dealing desk. This means you get ECN pricing as spreads are sourced from direct liquidity providers with no interference from TMGM.
Keep in mind that spreads are constantly changing, so to help avoid risks of slippage and improve your chances of getting the quotes price, TMGM has a fast execution speed of <30 MS. This speed is possible because their servers are strategically placed at Equinix New York (NY4) data centre where all the largest liquidity providers place their servers such as Citi, UBS, Credit Suisse and Bank of America.
Interestingly, servers are also hosted in at Equinix Tokyo TY3, one of the largest exchange hubs in all of Asia. This is the only broker we have reviewed to utilise this Data Centre. TMGM primary client base has long been centred around Asia and Oceania, so it is only logical to use servers closer to this region.
If you are a trader who desires TMGMs tightest spreads, then this is the right account type for you.
With the Edge account, you’ll have:
If you can’t pay or receive interest because of your religious beliefs, TMGM also offers a Swap Free account. Swap-Free accounts are only available for Edge account types, which means they have a $100 minimum deposit, along, and a 0.01 lot minimum lot size.
Demo Account
If you want to practice trading before you register for an account, you can do so through TMGM’s demo accounts. These accounts offer virtual funds, so you can familiarize yourself with the services and features offered by the broker. It also gives you a way to ensure you understand as much as possible about TMGM before opening a trading account.
Demo accounts using the MetaTrader 4 trading platform (which we’ll get to in a moment) have access to the platform for 365 days. However, your access will be removed if there is no activity for six months. You can choose between three funding amounts for your demo account: $5,000, $10,000, and $50,000.
If you lose all your funds, simply speak with TMGM customer support and they will top off your balance for you. For traders who decide to use an IRESS demo account, you’ll have to sign up for the account first, then have an account manager set it up for you.
Leverage
Leverage is a vital tool in trading. It’s often one of the first things a trader will explore. Whether they’re experienced or novice, traders want to know the leverage a new forex broker offers.
The leverage will depend on if you are trading from Australia or outside Australia.
In Australia, where TMGM is regulated by ASIC, the maximum permitted leverage for Major forex pairs is 1:30 while Minor pairs are 1:20. This is in line with European and UK regulators. However, if you’re a pro trader on the TMGM platform, those numbers jump to 1:400 for both Major and Minor forex pairs.
In New Zealand where TMGM is regulated by FMA, the maximum permitted leverage is 1:200 for forex, 1:100 for indices and energies and 1:200 for precious metals like gold, silver.
If you are trading with TMGM and you live outside these two countries, then the maximum leverage when trading forex is 1:500. Other products are the same as for New Zealand.
TMGM offers users a variety of easy-to-use and intuitive trading platforms on its site. These include its MetaTrader4, MetaTrader5, and IRESS options. Let’s inspect what these platforms offer.
MetTrader4 (MT4) is widely considered the gold standard trading platform for forex trading, so it is no surprise MT4 is TMGM’s most popular trading platform. This platform offers all the essential features both beginner and experienced traders need to quickly and easily analyse financial markets and trading conditions.
With MT4, traders can view live price feed, see up-to-date financial news, use analytical tools, and consult technical charts, giving users the best opportunity to make the right trading decisions.
The only weakness with choosing MT4 is the range of shares is limited compared to IRESS. Currently, you can only trade the 30 most popular US Stocks as CFDs and trading of these shares can only be done MT4 server time Monday-Friday 16:30~23:00 which is Eastern European Time (EET) or GMT+3.
The MT4 trading platform is available through TMGM in the following formats:
Desktop Platform
MT4 trading platform is available for all Windows desktops and is even available for MacOS desktops as long as you are using Mojave (10.14) or below (later versions will need an emulator such as WINE). The MT4 desktop trading platform provides a clean, stylish interface that’s especially great for novice traders as it means the screen avoid unnecessary clutter.
Traders can customise their dashboard with various charts while using dozens of technical indicators to know exactly what’s going on. With the TMGM MT4 desktop platform, traders have access to their trading positions, along with any other pertinent account information.
One of the key features is the ability to automate your trading using Expert Advisors (EAs). MT4 has one of the largest marketplaces of all platforms allowing you to access a wealth of trading robots along with indicators. Some of them are even free.
With the MT4 desktop platform, you’ll have access to:
Mobile Platform
The MT4 platform is also available as a mobile app. Whether you use an Android device or prefer an iOS iPhone or iPad, you can take your trading platform with you anywhere you go. With the MT4 mobile trading platform, you can trade anytime, anywhere. With the MT4 mobile application, you’ll have access to the following:
Interactive real-time Forex charts with zoom and scroll options
As you would expect, MetaTrader5 (MT5), is the successor to the MetaTrader4 platform. While you’ll get all the same functionality and features you came to love with MT4, MT5 offers a few more advanced options.
The options include additional charting timeframes and order types, multi-currency strategy tester, a larger variety of trading tools, and depth of market (DOM) pricing. MT5 is not yet a live trading platform, but it should be available to traders later this year.
The IRESS platform is TMGM’s “next-generation, web-based trading platform.” The main reason to use this trading platform is in order to access TMGM’s full range of CFD shares, 24 hours a day. Making IRESS a better choice over MetaTrader 4 if you plan to trade shares since IRESS allows you to trade on exchanges in the following countries – United States, Australia, The United Kingdom, Hong Kong, China and Singapore.
The other benefit of IRESS is that it offers exchange pricing and market depth. This is because IRESS uses DMA Forex Brokers trading. DMA means you Level 2 Market Depth Order Book pricing, that is you can view live orders from institutional liquidity providers connected to the exchange. MetaTrader 4 does not offer DMA.
Data Feeds are also faster than with MetaTrader. Stock prices from US exchanges are shown live, while all other markets have just a 15-minute delay.
The main thing to be aware of is the high minimum deposit fee of $5,000 USD. So IRESS is for serious traders only.
A key feature of the IRESS platform includes the ability of traders to customise their workspace using a modular structure that provides the data and information that’s pertinent to them. The modules are flexible and easy to resize, add, or remove at any time, giving you complete control of what information you will view and how it will be viewed on the platform.
These templates give traders the breadth and depth of the market needed, all in the convenience of a single screen. With this comprehensive information at your fingertips, you can make better, faster decisions. Plus, IRESS gives users the ability to compare, overlap, and add several charts to quickly identify trading patterns and opportunities.
Choose IRESS for:
To use IRESS, you will need an IRESS account. Minimum deposits for IRESS are high, as DMA trading is mostly for professional traders. The cost will differ between stock exchanges. The below shows costs for US stock exchanges.
HUBX For Fund Managers
Developed by TMGM in partnership with LifeByte, this platform helps fund managers and their clients work together when trading. The product integrates with MetaTrader 4 and comprises 3 distinctive features.
Multi-Account Manager (MAM) For Fund Managers
This function is designed for fund managers to help them manage all their clients’ accounts through a single terminal. In simple terms, MAM is a master account to manage client accounts in one place. This in effect allows fund managers to create a forex trading fund since the fund managers’ trading strategies can seamlessly be allocated to the client account as well.
A unified Dashboard is available so fund managers can monitor their clients along with important data in one place.
Copy Trading
Much in the same way MAM allows fund managers to copy their trades to their clients, HUBX also has copy trading features, so trades can be copied across accounts.
Account Monitoring And Risk Management Tools For Clients
Clients can monitor and control what their fund manager does with their accounts through portfolio management controls. This feature captures all movements fund managers do with the client’s accounts and manages their positions along with risk allocations.
Risk Management
Since CFDs and forex are complex instruments that come with a high risk for investors and traders, risk management tools and regulations are vital. As a result, TMGM offers standard risk mitigation tools like stop orders, trailing stops, and take profits. However, you won’t have any special features like guaranteed stop loss.
ASIC requires brokers to offer negative balance protection to Australian traders and investors. Keep in mind that the Vanuatu Financial Services Commission and the Financial Markets Authority (New Zealand) does not require it, so these clients won’t have access to this feature.
However, TMGM takes additional steps to ensure risks are kept to a minimum on its platform. Here are a few other ways the site mitigates risk for its users:
External Audits
TMGM uses an independent, external auditor to ensure that regulatory obligations and compliance are met. These auditors also provide direction for platform obligations and operational processes.
Trusted Banks
Your funds are stored in only the most trusted financial institutions. All client assets are kept in an Australian authorised deposit-taking institution (ADI), with an AA rating. The National Australian Bank is one of the largest banks in Australia. TMGM offers separate accounts for high net worth organizations and individuals. These accounts have access to log into dedicated bank accounts and check their balances whenever they want.
Protected Assets
TMGM focuses on a customer-first approach by providing professional liability insurance. This insurance is used to protect customer financial security while meeting the requirements of several regulatory entities. TMGM’s insurance company provides users up to AUD 5 million in coverage.
TMGM has a trust score of 53 out of 100 according to the broker’s regulation, reputation, and reviews.
The Australian Securities and Investments Commission, or ASIC, is an independent government regulatory entity that enforces financial service laws. Their primary focus is to protect Australian investors, creditors, and consumers. As one of the most significant regulators in the world, ASIC is dedicated to ensuring market integrity and protecting the interests and rights of consumers with the Australian Financial Services Authorization 436416.
For those of you in New Zealand, TMGM also falls under the umbrella of the Financial Markets Authority. FMA is the entity responsible for financial reporting and enforcing securities and other laws as they pertain to the financial market. TMGM has a derivatives license with FMA, FSP 569807.
Additionally, TradeMax Global Markets is controlled by Vanuatu Financial Services (VFSC), using registration number 40356. TMGM provides both individuals and businesses from countries such as Singapore, the Philippines, Canada, a way to set up an account in the country they live in. However, keep in mind that TMGM clearly states that they are not providing electronic trading facilities to citizens of the United States.
| TMGM Safety | Regulator |
|---|---|
| Tier-1 | ASIC FMA |
| Tier-2 | |
| Tier-3 | VFSC FSC-M |
TMGM was founded in 2013 in Sydney, Australia. They have a monthly search volume of 12,100 on Google.
Despite the low search volume, they managed to have an excellent TrustPilot score of 4.3 out of 5 from 717 reviews.
When using MetaTrader, the minimum initial deposit amount for any TMGM is $100. If using IRESS, then $5,000.
TMGM has no funding fees. To fund your account, you can use MasterCard, Visa, bank transfer, Skrill, UnionPay, Neteller, SticPay, FasaPay, and many others. Based on the site’s regulation and policy requirements, funds on the TMGM platform are stored in segregate client trust accounts. These accounts are kept in Australian banks like Westpac and NAB or if in NZ with local New Zealand banks.
Along those same lines, users can withdraw their funds using the same methods and will pay no withdrawal fees. The clear communication about the company’s deposit and withdrawal methods is a sure sign that TMGM is not a scam. It’s a legitimate forex site that offers excellent features and benefits.
Besides forex trading, TMGM offers a variety of other CFD products. Let’s take a closer look at what the platform offers.
Forex
The forex market is the largest in the world with more than $6.5 trillion in daily trading volume. By comparison, the New York Stock Exchange does just $20 billion. It’s not even a comparison. It’s a market that offers trading for anyone in the world, as it’s available 24 hours a day, five days a week.
With TMGM, you’ll have access to all the most popular currency pairs, including over 61 major, minor, exotic, and cross-pairs. Spreads start at 0 pips and you’ll have access to 1:30 (Australia), 1:200, while for New Zealand traders can access 1:500 (for other countries) leverage.
Indices
Trading Indices provides a way for you to gain exposure to the stock markets of countries from around the world. With TMGM, you can trade on over 12 different Indices, including the US S&P 500, the German DAX, the Japanese Nikkei, and the UK FTSE 100.
Not only will you gain access to a variety of CFD markets, but you’ll also enjoy the features that TMGM has to offer with Index CFDs. For example, users can trade CFDs with a leverage of up to 1:100.
Some of the other features TMGM offers with Index CFDs include:
If you’re interested in trading shares, TMGM is your gateway to markets throughout the globe. You’ll have access to a range of shares in places like Australia, Hong Kong, and the United States. TMGM gives traders the option to short (sell) and long (buy) many of the shares available. This includes taking part in the interest and dividends of holding these positions.
You can use either MetaTrader 4 or IRESS for trading stocks CFD however, MetaTrader 4 is limited to only the top 30 stocks in the US in business hours (GMT+3). IRESS allows access to the full range of shares TMGM offers across the US, Australia, UK, Hong Kong, Chinese and Singapore stock exchanges 24/7.
One of the biggest advantages of using TMGM for trading CFD shares is that you’ll gain exposure to stock price movements with just a small deposit. TMGM offers access to over 12,000 stocks, plus complete price transparency when traders take part in real market liquidity.
There are plenty more reasons to engage in CFD Shares trading with TMGM. These include:
Precious Metals
One of the best ways to diversify your portfolio is through trading precious metals. That’s because precious metals are placed in the ‘safe haven’ asset class, which has a certain appeal during volatile and uncertain times.
When trading CFDs on precious metals, TMGM gives you the ability to enjoy the benefits of diversification and speculation without having to have the precious metals themselves in your possession.
With a TMGM MT4 account, you’ll have access to trade Gold, Silver, and Platinum CFDs. Plus, with the proprietary TMGM Aggregation engine, you’ll get the best spreads available, which start at 0.0 pips.
Energies
Another great way to diversify your portfolio is through trading CFDs on energies like gas and oil. With TMGM, you can access these markets without purchasing the energies themselves. For example, you can trade CFDs on Brent Crude Oil or WTI Crude Oil through the TMGM platform.
Not only that, but you can trade in the Natural Gas Market as well. Access to these markets offers a great way to trade in areas that aren’t often given as much attention. You’ll also have access to the best spreads, which start at 0.2 pips, thanks to TMGM’s proprietary Aggregation Engine.
Cryptocurrencies
TMGM also offers crypto trading for its investors and traders interested in digital assets. Traders have access to the 20 most popular cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Ripple (XRP), and Bitcoin Cash (BCH). You can trade your favourite digital assets right from the MT4 platform, so you don’t have to open up another window on your desktop.
Crypto markets are open 24 hours a day, 7 days a week, so you can trade anytime you want. Plus, TMGM is a regulated exchange, which means you have access to the most popular digital assets with the protection of ASIC and VFSC regulations.
If you regularly use an online trading platform like TMGM, there’s always a chance you can run into problems. Whether it’s a significant issue or a small snafu, it’s always nice to know that if you need someone, help is just a click or a phone call away.
For customer support, you can contact TMGM through live chat, over the phone, or via email. The live chat feature is fantastic. You’ll get quick responses that are relevant and helpful. Plus, you can provide your own feedback when the chat concludes.
If you need to chat with someone, you’ll get a real, live person, not a chatbot feeding you canned lines that you get with some other platforms. The representatives are knowledgeable, and if you need it, TMGM’s chat supports over 10 different languages. That means you’ll be speaking with someone who understands you.
Languages available include English, Chinese, Vietnamese, Portuguese, Spanish, Thai, Arabic, French, Indonesian, Italian and Filipino.
Similarly, TMGM’s email support team is quick to respond. While it won’t be as fast as the response you’ll get through chat, the team typically gets back to you within 24-hours. Phone support is a hit or miss. While calls are answered quickly, it can be difficult to find an expert advisor who can explain the answer to your question.
Keep in mind that these support channels are available 24-hours a day, five days a week. They are not available on weekends. So if you run into a problem on Saturday or Sunday, you’ll have to wait until Monday to get it resolved.
TMGM Academy
Besides customer support, TMGM offers a unique feature called TMGM Academy. Through the TMGM Academy, you can learn about the ins and outs of forex trading. There are three stages available, Beginner Stage, Intermediate Stage, and Advanced Stage.
Beginner Stage
This stage of the TMGM Academy prepares novice traders for their forex trading journey. The Beginner Stage develops a firm foundation based on understanding margin trading, how to read various types of charts, plus an introduction to trading instruments, oscillators, indicators, and support plus resistance.
Intermediate Stage
TMGM Academy’s Intermediate Stage focuses on more technical aspects of forex trading. This includes considering indicators like MACD, RSI, ATRs, Moving Averages, and more. TMGM introduces Fibonacci and Fundamental analysis, plus effective ways to employ them in trading.
Advanced Stage
The Advanced Stage in the TMGM Academy is where traders get deep into various trading strategies and how to apply them. This stage includes learning about advanced forms of Fibonacci extensions and retracements, RSI, correlation, and trade management.
This TMGM review found this online broker offers CFD and forex to professional institutions and retail traders. The platform offers clients a range of trading platforms and analysis tools that allow for in-depth market research. Having these tools provides users with a way to make informed, educated decisions.
Trading conditions on the TMGM platform are very competitive. However, with deep liquidity, enhanced executions, and lightning-fast servers, you’ll get the best prices possible on your trades. It doesn’t hurt that there are multiple account types from which you can choose, plus a wide range of funding options.
Users can fund their accounts with as little as $100 to get started with a variety of CFD markets. Whether you prefer forex, energy, precious metals, or shares, TMGM has the market for you. You’ll get excellent customer service and if you want to learn anything new, you can check out the TMGM Academy.
TMGM provides access to MetaTrader 4, MetaTrader 5, and IRESS platforms, catering to both beginner and advanced traders.
TMGM offers Edge and Classic accounts, each with varying spreads and commission structures.
Yes, TMGM is regulated by the Australian Securities and Investments Commission (ASIC) and the Vanuatu Financial Services Commission (VFSC).
The minimum deposit required to open an account with TMGM is $100.
Yes, TMGM provides webinars, market analysis, and a variety of educational materials to support traders of all levels.
Versus, comparison pages of alternative online brokers to TMGM are listed below.
Verdict
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Funding
Product Range
Support
Market Research
Ask an Expert
Hi, just wondering if there are any similar brokers that offer IRESS platform outside of Australia? Particularly in Asia countries. Interested in trading ASX CFD stocks with DMA.
As far as we are aware, TMGM is the only broker that offers IRESS for CFD trading outside Australia. Within Australia there is FP Markets
What is the volume of TMGM Trading?
The most recent available data comes from 2022 where TMGM achieved a monthly trading volume of $195 Billion. This is an increase of over 100% from the previous year where they average $90 Billion per month for Q2 and makes TMGM one to the 10 largest brokers in the world by volume.
What is the max leverage in TMGM?
In Australia, the max leverage is 1:30 for retail traders. Outside Australia Leverage for Forex trading can be up to 1:1000
What is the execution speed of TMGM?
Based on our test, TMGM has a fast execution speed of <30 ms. This speed is achieved because the broker's servers are located at the Equinix New York (NY4) data center. It's the same location where major liquidity providers like Citi, UBS, Credit Suisse, and Bank of America have their servers.
What is the difference between TMGM edge and classic?
The edge account has no dealing desk meaning spreads are provided by the liquidity provider without price manipulation from the broker, for this reason you pay a commission separate to the spread. The Classic account is a Standard account meaning commission costs are included in the spread.