Trademax Australia Limited

Trademax Australia Limited (trading as TMGM)

Trademax Australia Limited

Trademax Australia Limited (trading as TMGM)

FD Legal are investigating claims against Trademax Australia for losses caused by risky CFD trading.  The cases allege that Trademax Australia representatives encouraged investors to trade in highly risky CFD and Forex products promising high returns.  The cases also allege that Trademax engaged brokers to undertake trading strategies for clients which caused significant losses.

It is alleged that:

• Representatives provided financial advice and encouraged the client to execute wholesale investor/sophisticated certificates to enable Trademax Australia to trade CFD’s and Forex trading with higher margins than allowed for retail investors.  

• Trademax failed to undertake appropriate “know your client” verification procedures to determine whether clients were suitable to trade CFD’s and Forex trading.

• Clients who were inexperienced in trading CFD’s and Forex trading were not suitable to engage in highly speculative trading.

It is FD Legal’s concern that clients have been allowed to engage in CFD and Forex trading which was described by the Federal Court as “gambling” where “most clients lose money trading CFDs, often due to excessive leverage” and were described as“financial heroin hits”.  

We are encouraging Trademax clients to contact FD Legal to discuss your options to seek redress.

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FD Legal successfully represented and recovered compensation in a claim against a financial planner who failed to ensure TPD insurance was retained in superannuation fund.
Represented multiple clients through a complaint process with a financial firm who complained that their financial advisor misrepresented the risks involved in investing in shares for an overseas company.
Won significant compensation for client who lost money in SMSF due to negligent financial advice.

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Our fee structures have been developed to provide you with accessible legal support and to ensure we can get the best outcome for you.

We understand the importance that transparency plays in trust, so we make sure to discuss fees up-front.

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For certain Financial Advice Dispute cases we provide no-win-no-fee. You will be advised after your initial consultation and assessment if this applies to you.

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Where possible, our team will provide you with a fixed fee amount for each stage of your claim. This fee is billable regardless of the outcome of your case.

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If we identify the opportunity for a claim in our initial call we will then proceed with a comprehensive assessment into your case, including gathering witness statements, identifying and locating key documentary evidence, and consulting with experts.

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Based on our findings we will offer recommendations on the appropriate legal action to pursue your claim, and clearly explain your next steps.

At this point of engaging us, we will advise you on the fee structure involved in your claim so you are aware of costs involved before proceeding.

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