Search

For more information about IGM Limited Forex Broker company profile, come to WikiBit!

Rating Index

WikiFX Detection

Business

Influence E

License

No license

IGM Limited Company

  

IGM Limited Company Overview

  

Company Overview

  

Founding Date and Background

  IGM Limited Company, often referred to simply as IGM, was established in June 2023. Despite its claims of having over a decade of experience in the financial services industry, the companys registration date raises significant concerns regarding its authenticity and operational history.

  

Parent Company/Owning Structure

  Information about IGM Limiteds ownership structure is sparse. The company claims to operate under various regulatory frameworks, but there is no verifiable evidence of legitimate parent companies or affiliations with recognized financial institutions.

  

Headquarters Location

  The company claims to be headquartered in the United Kingdom. However, it has not disclosed its specific address, which is a common red flag associated with unregulated brokers.

  

Global Business Scope

  IGM Limited purports to offer its services to a global clientele, with a purported focus on markets in the United Kingdom, Italy, India, the United States, and New Zealand. However, its operational legitimacy in these regions has been called into question due to regulatory warnings.

  

Main Regulatory Bodies

  IGM Limited claims to be regulated by several prominent financial authorities, including the Financial Conduct Authority (FCA) in the UK, the Hong Kong Securities and Futures Commission (HKSFC), the Cyprus Securities and Exchange Commission (CySEC), and the Federal Financial Supervisory Authority (BaFin) in Germany. However, these claims are unsubstantiated, as the FCA has officially blacklisted IGM Limited for operating without proper authorization.

  

Company History and Development

  

Key Milestones

  • June 2023: IGM Limiteds domain was registered, marking its official entry into the market.
  • December 2023: The FCA added IGM Limited to its warning list, citing concerns over unauthorized financial services.

  

Business Expansion Journey

  Despite being a newly established entity, IGM Limited has attempted to position itself as a global broker. However, its rapid claims of expansion are undermined by the lack of regulatory compliance and a transparent operational history.

  

Customer Base Growth

  As a new entrant in the forex market, IGM Limited has not demonstrated significant customer base growth. Reports suggest that the majority of its clients are from regions with high incidences of online trading scams, further complicating its credibility.

  

Platform Development History

  IGM Limited claims to offer a web-based trading platform, but there is little information available regarding its technological capabilities or user experience. The absence of a mobile application and downloadable software raises further concerns about its platform development.

  

Important Awards or Recognitions Received

  As of now, IGM Limited has not received any notable awards or recognitions within the financial services industry, which is atypical for brokers that claim to have extensive experience and a reputable standing.

  

Trading Services Offered

  

Forex Trading Options

  IGM Limited advertises a range of forex trading options, claiming to offer over 200 currency pairs. However, the legitimacy of these offerings is questionable, given its unregulated status.

  

Stock Trading Options

  While IGM Limited markets itself as providing stock trading services, specific details about the available stocks or markets are not disclosed, raising concerns about transparency.

  

CFD Trading Products

  The broker claims to offer Contracts for Difference (CFDs) on various assets, but again, the lack of detailed information makes it difficult for potential clients to assess the viability of these products.

  

Other Financial Instruments

  IGM Limited also mentions offering trading services for commodities and cryptocurrencies. However, without regulatory oversight, the safety and legitimacy of these instruments remain uncertain.

  

Special Services or Unique Advantages

  IGM Limited promotes itself as providing a unique trading experience, but due to its lack of regulation and transparency, these claims cannot be substantiated.

  

  

Detailed Regulatory Information

  IGM Limited claims to be regulated by several financial authorities, including:

  • Financial Conduct Authority (FCA) - UK
  • Hong Kong Securities and Futures Commission (HKSFC)
  • Cyprus Securities and Exchange Commission (CySEC)
  • Federal Financial Supervisory Authority (BaFin) - Germany

  Despite these claims, the FCA has issued warnings against IGM Limited for operating without authorization, indicating that it is not recognized by any of these regulatory bodies.

  

  The legal entity structure of IGM Limited is unclear, and it has not provided information on its corporate structure or any subsidiaries.

  

Client Fund Protection Measures

  Due to its unregulated status, IGM Limited does not offer any client fund protection measures, making it a high-risk choice for investors.

  

Countries/Regions Served

  IGM Limited claims to operate globally, particularly targeting clients in the UK, Italy, India, the US, and New Zealand. However, its actual operational capacity in these regions is highly questionable.

  

Compliance History

  IGM Limited has a poor compliance history, with its recent addition to the FCAs warning list indicating significant regulatory issues.

  

Competitive Landscape

  

Main Competitors

  • eToro - A well-known regulated broker offering social trading and a wide range of assets.
  • IG Group - A reputable broker with a long history and strong regulatory compliance.
  • Plus500 - A regulated CFD provider known for its user-friendly platform and diverse trading options.
  • OANDA - A global forex broker with a strong regulatory framework and a wide range of currency pairs.
  • Pepperstone - An established broker recognized for its low spreads and robust trading platform.
  •   

    Positioning in the Industry

      IGM Limited is positioned as a low-cost broker targeting inexperienced traders. However, its lack of regulation and transparency severely limits its competitiveness in the industry.

      

    Market Differentiation Factors

      The primary differentiation factors for IGM Limited appear to be its aggressive marketing tactics and claims of extensive experience. However, these factors are undermined by its unregulated status and the absence of verifiable operational history.

      

    Conclusion

      In summary, IGM Limited Company raises numerous red flags that suggest it operates as an unregulated and potentially fraudulent broker. Its claims of extensive experience, regulatory compliance, and diverse trading options lack substantiation, making it a risky choice for investors. Prospective clients are strongly advised to conduct thorough research and exercise caution when considering engagement with IGM Limited.

      For further research on IGM Limited and to explore safer trading options, consider checking regulatory bodies' websites and trusted financial news sources.

      Learn More about safe trading practices and how to identify legitimate brokers.

      Back to Top