IFGM Forex Broker provides real users with * positive reviews, * neutral reviews and 1 exposure review!
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ASIC Suspicious Clone 
The platform sent an email every morning to me every day. Since I didn’t receive it today. I curiously went to the background and found that I couldn’t ?
In this comprehensive review of IFGM, we delve into the broker's offerings, regulatory status, user experiences, and overall trustworthiness. While some users report positive experiences with its trading platform and account conditions, others express concerns about its legitimacy and regulatory compliance. Key features include a maximum leverage of 1:500 and a minimum deposit requirement of $200.
Note: It is important to highlight that there are different entities operating under the IFGM name across various regions, which may affect the overall user experience and regulatory compliance.
| Category | Rating (out of 10) |
|---|---|
| Account Conditions | 7 |
| Tools and Resources | 6 |
| Customer Service and Support | 5 |
| Trading Setup (Experience) | 6 |
| Trustworthiness | 4 |
| User Experience | 5 |
We score brokers based on user feedback, expert opinions, and factual data from multiple sources.
Founded in 2012, IFGM is an Australian-based forex broker that operates under the regulatory oversight of the Australian Securities and Investments Commission (ASIC). The broker primarily offers the popular MetaTrader 4 (MT4) platform, which allows users to trade a variety of assets, including forex pairs, commodities, and indices. IFGM claims to provide a secure trading environment, with client funds held in segregated accounts at reputable banks.
IFGM is regulated by ASIC in Australia, which is known for its stringent regulatory framework. However, there are concerns regarding the authenticity of its licensing claims, as some sources indicate discrepancies in the broker's registration details (source).
The broker accepts deposits in AUD, USD, EUR, and GBP. Various payment methods are available, including credit/debit cards, bank wire transfers, and e-wallets like PayPal and Skrill. Notably, IFGM does not charge deposit or withdrawal fees on its side, although users may incur charges from their banks or payment providers.
The minimum deposit required to open a trading account with IFGM is $200 for standard and Islamic accounts, while the pro account requires a minimum deposit of $1,000.
Currently, IFGM does not appear to offer any bonuses or promotions, which is a common practice among many regulated brokers to comply with regulatory standards.
IFGM provides access to over 40 tradable instruments, including 28 forex pairs, several commodities, and stock indices. However, some users have noted a lack of variety compared to other brokers (source).
Spreads at IFGM are variable, starting from 1.1 pips for major pairs like EUR/USD. The pro account incurs a commission of $3.59 per trade, while the standard account does not charge commissions but has spreads that can be higher than those of the pro account.
IFGM offers a maximum leverage of up to 1:500, which is attractive for traders looking to maximize their exposure. However, this high leverage comes with increased risk, and traders should be cautious about their risk management strategies (source).
Traders can access IFGM through the MT4 platform, which is widely regarded for its user-friendly interface and extensive functionality. Additionally, IFGM offers a proprietary web trader that allows trading directly from a browser.
IFGM does not accept clients from certain countries, including the United States, the UK, and parts of Europe. This limitation may affect potential clients looking to engage with the broker from those regions.
Customer support is primarily offered in English, with limited availability for other languages. Support is accessible via email and phone, but users have reported mixed experiences regarding response times and effectiveness (source).
| Category | Rating (out of 10) |
|---|---|
| Account Conditions | 7 |
| Tools and Resources | 6 |
| Customer Service and Support | 5 |
| Trading Setup (Experience) | 6 |
| Trustworthiness | 4 |
| User Experience | 5 |
IFGM provides multiple account types, including standard, pro, and Islamic accounts. The standard account offers a lower barrier to entry with a minimum deposit of $200, while the pro account requires a higher deposit but offers tighter spreads and lower trading costs. However, concerns have been raised about the legitimacy of IFGM's operations, which may affect user confidence in trading with them.
The broker offers educational resources, including a knowledge center and trading glossary, which can be beneficial for novice traders. However, the overall quality and depth of educational materials are considered limited compared to more established brokers.
While IFGM offers customer support via email and phone, user reviews suggest that the support may not be as responsive as desired. This could be a significant drawback for traders who require timely assistance with their accounts.
The trading experience on IFGM's platforms is generally positive, but some users have reported issues with platform stability and execution speeds, particularly during high volatility periods.
Despite being regulated by ASIC, IFGM has been flagged as a suspicious clone by various sources, raising concerns about its legitimacy. Traders are advised to conduct thorough due diligence before engaging with the broker.
User experiences vary widely, with some praising the trading platform's functionality while others express frustration over withdrawal issues and customer support responsiveness. This inconsistency may deter potential clients from choosing IFGM as their broker.
In conclusion, while IFGM presents a range of appealing features, potential clients should approach with caution due to regulatory concerns and mixed user experiences. Always perform due diligence and consider the risks involved in trading with any broker.
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