How to Cancel tmgm.com Subscription

TMGM does not operate on a “subscription” model in the traditional sense, where you pay a recurring fee for access to a service. Instead, it’s a brokerage account for CFD trading.

Therefore, “canceling a subscription” typically translates to closing your trading account and withdrawing any remaining funds.

The process usually involves several steps to ensure security and compliance.

Step 1: Close All Open Positions

Before initiating an account closure, it’s absolutely crucial to close all your open trading positions.

• Liquidate Assets: If you have any active Forex, Shares CFD, Metals, Energies, Cryptocurrencies, or Indices CFD positions, you must close them out. This means selling any long positions and buying back any short positions.
• Realize Gains/Losses: Closing positions will crystallize any profits or losses. Ensure you understand the current market value and potential impact on your account balance.
• Margin Requirements: Be aware of any margin requirements. If your account is under a margin call, you might be forced to close positions or deposit more funds before proceeding.

Step 2: Withdraw All Remaining Funds

Once all positions are closed and settled, you should initiate a withdrawal of your entire remaining account balance.

• Access Client Portal (if available): Normally, you would access the “Deposit and Withdrawal” section within your TMGM Client Portal to request a withdrawal.
  • Current Issue: As noted on their homepage, the “TMGM Client Portal Maintenance Notice” with an estimated go-live time of June 7, 2025, implies that online portal-based withdrawals might be currently inaccessible. This is a significant hurdle.
• Contact Customer Support: If the online portal is unavailable for withdrawals, you must contact TMGM’s customer support directly. They should provide alternative methods for fund withdrawal, such as via email requests with specific forms, or by phone.
  • Provide Details: Be prepared to provide your account number, personal verification details, and the preferred withdrawal method (e.g., bank transfer details that match your verified deposit method).
• Withdrawal Processing Time: Be aware that withdrawals are not always instant. They can take several business days to process, depending on the method and banking regulations. TMGM states “Fast Withdrawals,” but this needs to be confirmed, especially given the portal issues.
• Withdrawal Fees: Check if any withdrawal fees apply. While TMGM states “No Commission” on deposits/withdrawals, this might refer to their own fees, and third-party bank charges could still apply.

Step 3: Request Account Closure

After your positions are closed and funds are withdrawn, formally request the closure of your trading account.

• Contact Customer Support: This is almost always done through customer support.
  • Email: Send an email to their official support address, explicitly stating your desire to close your account. Include your full name, account number, and contact details.
  • Phone: Call their customer support line. Be prepared for identity verification questions.
• Reason for Closure (Optional but Helpful): While not mandatory, you might be asked for the reason for your closure. You can simply state you no longer wish to trade or that you’re seeking alternative investment opportunities.
• Confirmation: Request a written confirmation (via email) that your account has been successfully closed and that there are no pending obligations or balances.

Important Considerations:

• Zero Balance: Ensure your account balance is precisely zero before requesting closure. Any small residual amounts might complicate the process.
• Dormancy Fees: Be mindful of any dormancy fees or inactivity charges if you leave a small balance without closing the account.
• Ethical Exit: For ethical investors, closing the account is a crucial step towards disengaging from impermissible financial activities. It reinforces the commitment to Sharia-compliant wealth management.

Given the current “TMGM Client Portal Maintenance Notice,” the most practical and likely necessary method for account closure and fund withdrawal will involve direct and persistent communication with TMGM’s customer support.

This might be a more cumbersome process than usual, so patience and clear record-keeping of all communications will be essential. Is tmgm.com Real or Fake?