INGOT Forex Broker
Basic Information
Kenya
2-5 years Suspicious Regulatory License Self-developed Suspicious Scope of Business High potential riskCompany profile
Rating Index
Pros
Ingot Brokers offers a copy trading service, which allows users to earn passive income by following experienced traders.
The broker is regulated by multiple authorities, including ASIC, providing a level of trust and security for clients.
A variety of payment methods are available for deposits and withdrawals, including cryptocurrencies and e-wallets, with no deposit fees.
Cons
The ECN account type has a limited selection of assets compared to other account types.
With only 30+ currency pairs available, the offering is below the industry average, which may not meet the needs of serious forex traders.
Educational resources and market research provided by Ingot Brokers are less comprehensive than those offered by some competitors.
INGOT Forex Brokers - Complete Information Guide
1. Broker Overview
INGOT Brokers, officially known as INGOT Global Ltd, was established in 2006 and has since built a solid reputation in the financial trading industry. The company is headquartered in Seychelles, with significant offices in Australia, Jordan, Kenya, and South Africa, catering to a diverse clientele across various global markets. As a privately held entity, INGOT Brokers has expanded its services to meet the needs of retail and institutional traders alike.
Over the years, INGOT Brokers has achieved several milestones, including obtaining multiple regulatory licenses, which have helped in establishing its credibility in the trading community. The firm operates under a multi-entity structure, with each entity regulated by different financial authorities, ensuring compliance with local laws and regulations.
The primary business model of INGOT Brokers includes retail forex trading and providing institutional services such as liquidity provision and white-label solutions. The broker offers a wide range of financial instruments, including forex, CFDs, commodities, and cryptocurrencies, making it a versatile option for traders of all experience levels.
2. Regulation and Compliance Information
INGOT Brokers is regulated by several prominent authorities, ensuring a high level of trust and security for its clients. The main regulatory bodies overseeing the broker include:
- Australian Securities and Investments Commission (ASIC) - License No. 428015
- Financial Services Authority of Seychelles (FSA) - License No. SD117
- Jordan Securities Commission (JSC) - License No. 3/1/02165/20
- Capital Markets Authority of Kenya (CMA) - License No. 173
- Financial Sector Conduct Authority (FSCA) in South Africa - License No. 51008
These regulatory licenses are valid for providing services within their respective jurisdictions, ensuring that INGOT Brokers adheres to strict compliance standards. The broker maintains a policy of segregating client funds from its operational funds, providing an additional layer of security for clients.
INGOT Brokers also implements robust KYC (Know Your Customer) and AML (Anti-Money Laundering) measures to prevent fraud and ensure the integrity of its trading environment. This commitment to compliance is crucial in maintaining trust and transparency in its operations.
3. Trading Products and Services
INGOT Brokers offers a comprehensive range of trading products across various asset classes. The broker provides access to over 1,000 financial instruments, including:
- Forex Currency Pairs: More than 30 major, minor, and exotic pairs are available for trading, including popular options like EUR/USD, GBP/USD, and USD/JPY.
- CFDs: Traders can engage in contracts for difference on a variety of assets, including:
- Indices: Access to major global indices.
- Commodities: Trading options include oil, gold, silver, and agricultural products.
- Stocks: CFDs on shares of well-known companies from various markets.
- Cryptocurrencies: Trade popular digital currencies like Bitcoin, Ethereum, and more.
The broker regularly updates its product offerings, ensuring that clients have access to the latest financial instruments. Retail trading services are complemented by educational resources and market analysis tools, making it easier for traders to make informed decisions.
4. Trading Platforms and Technology
INGOT Brokers supports two of the most popular trading platforms in the industry: MetaTrader 4 (MT4) and MetaTrader 5 (MT5). These platforms are well-known for their user-friendly interfaces and advanced trading features, including:
- Automated Trading: Both platforms support expert advisors (EAs) for automated trading strategies.
- Web-Based Trading: Clients can access their accounts via web browsers without needing to download software.
- Mobile Applications: MT4 and MT5 are available on iOS and Android devices, allowing traders to manage their accounts and execute trades on the go.
The broker operates on an ECN (Electronic Communication Network) execution model, providing direct market access and competitive spreads starting from 0 pips. The technological infrastructure is robust, with servers located in strategic locations to ensure fast order execution and minimal latency.
API access is also available for traders looking to implement algorithmic trading strategies, enhancing the overall trading experience for both retail and institutional clients.
5. Account Types and Trading Conditions
INGOT Brokers offers a variety of account types to cater to different trading needs:
- Standard Account: Requires a minimum deposit of $100, with spreads starting from 1 pip and no commission.
- ECN Account: Also requires a minimum deposit of $100, with spreads starting from 0 pips and a commission of $7 per round turn.
- Prime Account: Designed for experienced traders, this account requires a minimum deposit of $25,000, offering lower spreads and a commission of $5 per round turn.
- Demo Account: Available for practice trading, allowing users to familiarize themselves with the platform and trading strategies without financial risk.
Leverage options vary by account type, with a maximum leverage of up to 1:500 available for certain accounts. The minimum trade size is 0.01 lots, and overnight fees are applicable depending on the account type and positions held.
6. Fund Management
INGOT Brokers provides a range of deposit and withdrawal methods to facilitate seamless fund management:
- Deposit Methods: Clients can fund their accounts using various methods, including bank transfers, credit/debit cards, and e-wallets such as Skrill and Neteller. The minimum deposit requirement is $100 for most accounts.
- Withdrawal Methods: Withdrawals can be made through similar methods as deposits, ensuring flexibility for clients. The processing time for withdrawals typically ranges from 24 to 72 hours, depending on the method chosen.
- Fees: INGOT Brokers does not charge deposit or withdrawal fees; however, third-party payment providers may apply their own charges.
The broker's commitment to transparency in its fee structure enhances its appeal to traders looking for cost-effective trading options.
7. Customer Support and Educational Resources
INGOT Brokers offers comprehensive customer support to assist traders with their inquiries and issues:
- Support Channels: Clients can reach support via phone, email, live chat, and social media platforms. The support team is available 24/5, although weekend support is not provided.
- Multilingual Support: The broker caters to a diverse clientele, offering support in multiple languages.
- Educational Resources: INGOT Brokers provides a wealth of educational materials, including webinars, tutorials, and market analysis reports. These resources are designed to help traders enhance their skills and market knowledge.
Additionally, traders have access to various trading tools, such as economic calendars and calculators, to aid in their trading decisions.
8. Regional Coverage and Restrictions
INGOT Brokers operates in over 194 countries, providing services to a wide range of markets. The broker has a significant presence in regions such as Australia, Asia, the Middle East, and Africa. However, it is important to note that certain countries are restricted from accessing INGOT's services, including the United States and other jurisdictions where local regulations prohibit the provision of such services.
The broker's regional offices further enhance its ability to serve clients effectively, ensuring compliance with local laws and regulations.
In conclusion, INGOT Brokers presents a comprehensive trading platform with a wide array of services and products, well-regulated operations, and a commitment to client education and support. With its solid technological infrastructure and diverse account offerings, it stands as a viable option for traders looking to navigate the complex world of forex and CFD trading. The brokers focus on compliance and transparency further solidifies its reputation in the financial markets.
よういち
Japan
When I processed the withdrawal, the money was not deposited even after the promised 48 hours, so I contacted the support center. When I checked, the money was not deposited even though I had to wait another day because the processing was delayed. When we inquired again, unauthorized access was confirmed, so the account was frozen to preserve funds. I was asked to pay 2 million yen as a deposit to lift the freeze, and no idiot would pay that to someone who can't keep their promises! I quickly verified my identity and asked for a withdrawal, but I was ignored. I sent an inquiry email from the homepage, but it was not received at all. In the end, I was unable to log in and even lost contact. The amount of damage was 2.2 million yen.
Exposure
2024-04-06