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The WikiFX Score of this broker is reduced because of too many complaints!

INGOT BROKERS

Seychelles|10-15 years|
Regulated in Australia|Market Making(MM)|MT4 Full License|Regional Brokers|High potential risk|Offshore Regulated|

https://www.ingotbrokers.com/en

Website

Rating Index

MT4/5 Identification

MT4/5

Full License

INGOTGlobalLtd-Demo

United States
MT4
21

Influence

A

Influence index NO.1

Australia 6.97
The WikiFX Score of this broker is reduced because of too many complaints!

MT4/5 Identification

MT4/5 Identification

Full License

21
Server Name
INGOTGlobalLtd-Demo MT4
Server Location United States

Influence

Influence

A

Influence index NO.1

Australia 6.97

Surpassed 32.58% brokers

Biz AreaSearch StatisticsAdvertisingSocial Media Index

Contact

+248 4345580
customerservice@ingotbrokers.com
https://www.ingotbrokers.com/en
Unit 3, 2nd Floor, Dekk Complex, Plaisance, Mahe, Seychelles

Licenses

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

Open Now

Disclosure

Danger

ID BAPPEBTI
2022-02-02
Ministry of Trade Blocks 1,222 Illegal Commodity Futures Trading Websites
INGOT BROKERS
OctaFX
Sunton Capital

Contact number

English

+248 4345580

Broker Information

More

Company Name

INGOT Global Ltd

Company Abbreviation

INGOT BROKERS

Platform registered country and region

Seychelles

Company website
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Pyramid scheme complaint

Expose

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WikiFX Risk Alerts 2
Previous Detection : 2024-04-22
  • The number of the complaints received by WikiFX have reached 10 for this broker in the past 3 months. Please be aware of the risk and the potential scam!
  • The Seychelles FSA regulation with license number: SD117 is an offshore regulation. Please be aware of the risk!

WikiFX Verification

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    INGOT BROKERS · Company Summary

    Risk Warning

    Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.

    General Information

    Feature Information
    Registered Country/Region Seychelles
    Found 2006
    Regulation ASIC
    Market Instrument Agriculture, energies, metals, stocks, indices, ETFs, currencies and cryptocurrencies
    Account Type Professional, ECN and Prime
    Demo Account N/A
    Maximum Leverage 1:500
    Spread Vary on the account type
    Commission Vary on the account type
    Trading Platform MT4, MT5
    Minimum Deposit $10
    Deposit & Withdrawal Method Wire transfers, Bitcoin, Ethereum, Visa, MasterCard, Apple Pay, and Tether

    INGOT BROKERS, a trading name of INGOT Global Ltd, is a multi-asset brokerage firm founded in 2006 and registered in Seychelles, while further, the company diversified its portfolio to Asia, MENA and International trading regions through their offices in New Zealand, Switzerland and Bahrain.

    The broker offers a diverse range of market instruments, including agriculture, energies, metals, stocks, indices, ETFs, currencies, and cryptocurrencies. This provides traders with opportunities for diversification and access to global markets. However, regional restrictions may apply, and there are potential risks associated with commodity price fluctuations and higher volatility in certain markets.

    INGOT BROKERS offers different account types, such as the Professional Raw Account and the Professional Account, catering to the needs of Wholesale clients and Sophisticated investors. These accounts provide access to various asset classes, different leverage options, and low spreads. Traders are advised to consider the potential limitations and convenience of each account type.

    To open an account with INGOT BROKERS, interested individuals can visit the broker's website and follow the account opening process, which involves providing personal information, selecting an account type and currency, reviewing terms and conditions, submitting an application, undergoing a verification process, funding the account, and starting trading.

    INGOT BROKERS offers leverage options up to 1:500, spreads starting from 0 pips, and a variety of deposit and withdrawal methods, including wire transfers, cryptocurrencies, and credit/debit cards. However, withdrawal fees may apply, and additional fees imposed by the concerned bank should be taken into account. The broker supports the popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5) trading platforms, which provide access to global financial markets and advanced trading features. Traders can also utilize trading tools such as the Trader's Calculator and the Economic Calendar to assist in their trading decisions.

    Educational resources offered by INGOT BROKERS include videos, articles, seminars, webinars, and one-to-one training sessions, covering topics such as chart patterns, commodities, and technical analysis. However, there are no upcoming webinars at the moment. Traders should consider these resources as supplementary to comprehensive market analysis and risk management strategies.

    Here is the home page of this brokers official site:

    home page

    Pros and Cons

    kers is a reputable brokerage firm that offers a range of financial services. One notable advantage of INGOT Brokers is its user-friendly platform, which makes it easy for both experienced and novice traders to navigate. The company provides a wide selection of tradable assets, including stocks, currencies, and commodities, allowing investors to diversify their portfolios. Additionally, INGOT Brokers offers low pricing and low fees, enabling clients to execute trades at affordable costs. On the downside, customer support can be slow at times, and there have been occasional reports of technical glitches on the platform.

    Pros Cons
    User-friendly platform Slow customer support
    Wide selection of tradable assets Occasional technical glitches
    Low fees Limited educational resources
    Advanced trading tools Limited research tools
    Strong security measures Limited customer support channels
    Robust mobile app Lack of transparency in pricing

    Is INGOT BROKERS Legit?

    According to the information provided, INGOT BROKERS (AUSTRALIA) PTY LTD, operating in Australia, is regulated by the Australia Securities & Investment Commission (ASIC) with license number 428015. They are licensed as a Market Maker (MM). However, it's important to note that the license type mentioned is “No Sharing,” which could indicate limitations on the services provided.

    regulation

    On the other hand, INGOT Global Ltd, operating in Seychelles, is regulated by the Seychelles Financial Services Authority (FSA) with license number SD117. The FSA in Seychelles is classified as an offshore regulatory agency.

    regulation

    It's worth mentioning that WikiFX Risk Alerts have raised concerns about INGOT BROKERS, with a detection date of 2023-06-05. According to WikiFX, they have received 10 complaints about this broker in the past three months, indicating a potential risk or scam. Additionally, WikiFX advises caution regarding the offshore regulation by the Seychelles FSA (SD117), as offshore regulations generally offer lesser protection compared to stricter regulatory frameworks.

    Therefore, based on the information provided, it appears that INGOT BROKERS is not regulated by a major financial regulatory authority such as ASIC in Australia, which typically provides higher levels of investor protection. The offshore regulation in Seychelles also raises concerns regarding the level of oversight and protection for clients. It is recommended to exercise caution and conduct further research or seek advice from trusted financial professionals before engaging with this broker.

    Market Instruments

    INGOT BROKER offers 1,000+ trading instruments across 8 asset classes, including agriculture, energies, metals, stocks, indices, ETFs, currencies and cryptocurrencies.

    1. Agriculture: INGOT Brokers provides agricultural commodities such as corn, soymeal, wheat, and more. These commodities allow traders to participate in the agricultural market and diversify their portfolios.

    2. Energies: Traders can access energy commodities like natural gas through INGOT Brokers. These energy products provide exposure to the energy sector and its price fluctuations.

    3. Metals: INGOT Brokers offers popular metals like gold, copper, silver, and others. These metals are commonly traded for their value and act as a hedge against inflation.

    4. Stocks: INGOT Brokers allows trading of stocks from global brands. Traders can engage in the stock market and potentially benefit from the performance of well-known companies such as Meta, Lyft, Snap, and more.

    5. Indices: INGOT Brokers provides indices that represent the overall performance of a collection of stocks from specific nations. Traders can use indices to diversify their portfolios and gain exposure to broader market trends, including DAX 40, S&P 500, NASDAQ 100, and others.

    6. ETFs: INGOT Brokers offers Exchange-Traded Funds (ETFs) that track the performance of indices, sectors, and other assets. ETFs provide a convenient way to diversify portfolios as they contain a mix of investment types. Examples of ETFs include GOVT, FIVG, SDOW, and more.

    7. Currencies: INGOT Brokers allows trading of various currency pairs, including major pairs like EURUSD, GBPUSD, USDCAD, and others. Currency trading enables traders to take advantage of fluctuations in exchange rates.

    8. Cryptocurrencies: INGOT Brokers supports popular cryptocurrencies like Bitcoin (BTCUSD), Ethereum (ETHUSD), Litecoin (LTCUSD), and more. Cryptocurrencies offer opportunities for traders interested in the digital currency market.

    Market Instruments

    Account Types

    INGOT Brokers offers a variety of account types to cater to the diverse needs of traders. With options such as the Professional Raw Account and the Professional Account, traders can choose the account type that aligns with their trading preferences and requirements. These accounts provide access to a wide range of asset classes, different leverage options, and low spreads. In this way, INGOT Brokers aims to provide a flexible trading experience for both Wholesale clients and Sophisticated investors.

    PROFESSIONAL RAW:

    The Professional Raw Account is tailored for Wholesale clients, including Sophisticated investors. This account offers spreads starting from zero, with commissions applicable. Traders who choose this account can benefit from floating spreads, leverage of up to 1:200, and a minimum deposit requirement of $100. However, it's important to note that a commission fee of $7 applies to this account type.

    PROFESSIONAL:

    The Professional Account is designed for Wholesale clients, including Sophisticated investors who require access to a wide range of asset classes and increased leverage. Traders opting for this account type can enjoy floating spreads, leverage of up to 1:500, and a minimum deposit requirement of $100. Unlike the Professional Raw Account, there is no commission fee associated with this account type.

    account-types

    How to Open an Account ?

    To open an account with INGOT BROKERS and start trading, follow these steps:

    1. Visit the INGOT BROKERS website: Go to the official website of INGOT BROKERS.

    2. Click on ‘Start Trading’: Look for a button or link that allows you to start the account opening process.

    open-account

    3. Fill in your personal information: Provide your first name, last name, email address, country of residence, citizenship, phone number, and choose a password. Ensure that the password you choose meets the minimum requirements, usually a minimum of 8 characters.

    4. Select the account type and currency: Choose the type of account you wish to open, such as an Individual Account. Select the currency in which you want to operate your trading account.

    5. Review and accept the terms and conditions: Read through the terms and conditions carefully. Ensure that you understand and agree to the terms before proceeding.

    6. Submit your application: After filling in all the required information and reviewing the terms and conditions, submit your application.

    open-account

    7. Verification process: INGOT BROKERS may require you to verify your identity and provide additional documents to comply with regulatory requirements. Follow the instructions provided to complete the verification process.

    8. Fund your account: Once your account is approved and verified, you can proceed to fund your trading account. INGOT BROKERS provides various deposit methods, such as wire transfers, cryptocurrencies, and credit/debit cards. Choose the most convenient method for you and follow the instructions to deposit funds into your account.

    9. Start trading: After funding your account, you can access the trading platform provided by INGOT BROKERS, such as MetaTrader 4 or MetaTrader 5. Familiarize yourself with the platform, explore the available trading instruments, and execute trades according to your trading strategy.

    Leverage

    Three accounts offer different trading leverage. The maximum leverage for the Professional account is up to 1:500, and for the ECN account is up to 1:200. While the Prime account holders can experience leverage up to 1:100.

    It is important to keep in mind that the greater the leverage, the greater the risk of losing your deposited capital. The use of leverage can both work in your favour and against you.

    Spreads & Commissions

    Spreads and commissions with INGOT BROKERS are scaled with the accounts offered. Specifically, the spread starts from 1 pip on the Professional account, and 0 pips on the ECN and Prime accounts.

    As for the commission, there is no commission on the Professional account, a $7 commission on the ECN account, and a $5 commission on the Prime account.

    Trading Platform

    INGOT Brokers offers its clients the popular and widely used MetaTrader 4 (MT4) and MetaTrader 5 (MT5) trading platforms. These platforms provide traders with access to global financial markets with ease, offering a range of features and tools.

    MetaTrader 4 (MT4) is a well-known platform that offers a user-friendly interface and advanced trading capabilities. It provides traders with access to 30 technical indicators, allowing them to analyze price patterns on charts. Traders can execute buy or sell orders, known as open orders, and choose from 9 different timeframes to analyze price movements. MT4 also supports the use of 128 charts for in-depth technical analysis. The platform is available for iOS and Android devices, desktop computers, and also offers a web trader option.

    MetaTrader 5 (MT5) is a multi-asset trading platform that includes advanced technical and fundamental analysis tools. It offers an economic calendar to keep traders informed about important economic events and news that may impact market prices. MT5 provides access to 38 technical indicators for analyzing price patterns on charts. Traders can place pending orders, which are buy or sell orders that have not yet been executed. The platform offers 21 different timeframes and allows the use of an unlimited number of charts for comprehensive technical analysis. MT5 is available for iOS and Android devices, desktop computers, and also offers a web trader option.

    trading-platform
    Pros Cons
    Access to widely used platforms (MT4, MT5) FSA license is offshore, which may raise concerns about regulatory oversight
    User-friendly interfaces Limited information provided about platform features and tools
    Advanced technical analysis tools Lack of clarity on trading conditions, such as spreads and commissions
    Multiple platform options (mobile, web) Limited customer support options
    Compatibility with automated trading software Concerns raised by WikiFX about customer complaints and potential scam risks

    Trading Tools

    Trading Tools offered by INGOT Brokers include:

    1. Trader's Calculator: This tool helps traders calculate essential trading parameters such as margin, spreads, and leverage. By accurately analyzing these numbers, traders can make informed trading decisions.

    trading-tools

    2. Economic Calendar: INGOT Brokers provides an economic calendar that highlights important dates and events relevant to the global economy. Traders can stay updated on key economic indicators and news releases that might impact the financial markets.

    trading-tools
    Pros Cons
    Trader's Calculator helps with accurate calculations and risk management Tools should not replace comprehensive market analysis and research
    Pivot Point Calculator assists in identifying support and resistance levels Effectiveness depends on the accuracy of input data and interpretation skills
    Economic Calendar keeps traders informed about important economic events Tools should be used in conjunction with proper market analysis and risk management strategies

    Deposit & Withdrawal

    INGOT BROKERS offers a variety of deposit and withdrawal methods to cater to the needs of their clients. The accepted deposit methods include Wire transfers, Bitcoin, Ethereum, Visa, MasterCard, Apple Pay, and Tether. This provides flexibility and convenience for clients to fund their trading accounts using their preferred payment method. The minimum deposit amount is $10, allowing for accessibility and affordability.

    When it comes to withdrawals, INGOT BROKERS supports Wire transfers, Bitcoin, Ethereum, Tether, and Cellulant. Clients can choose the method that suits them best for withdrawing their funds. It's important to note that there are some withdrawal fees charged by the broker, which can vary depending on the chosen withdrawal method.

    Here is a breakdown of the deposit and withdrawal options provided by INGOT BROKERS:

    Deposit Methods:

    1. PoliPay

      1. Currency: AUD

      2. Deposit Fees: No Fees

      3. Minimum Deposit: $100

      4. Maximum Deposit: $19,999

      5. Processing Time: Instant

    deposit-withdrawal
    1. Wire Transfer

      1. Currencies: USD, EUR, AUD, GBP, KES

      2. Deposit Fees: No Fees (an amount of 25 USD will be charged for wire transfers lower than 500 USD)

      3. Minimum Deposit: $100

      4. Maximum Deposit: $1,000,000

      5. Processing Time: 1 - 5 Business Days

    deposit-withdrawal

    It's important to note that while INGOT Brokers does not charge any commission on bank wire transfer deposits and withdrawals, the concerned bank may impose its own commissions or fees on these transactions.

    Pros Cons
    Multiple deposit methods for flexibility Withdrawal fees may apply, varying by method
    Low minimum deposit requirement Potential additional fees imposed by the concerned bank
    Acceptance of popular cryptocurrencies Limited information provided about withdrawal processing times

    Customer Support

    1. Telephone Support: INGOT BROKERS provides telephone support to their clients. You can reach them at +61280466500 in Sydney, Australia.

    2. Email Support: They offer email support for general inquiries at info@ingotbrokers.com.au and dedicated support at customerservice@ingotbrokers.com.au.

    3. Live Chat: INGOT BROKERS has a live chat feature on their website, allowing clients to communicate with their support team in real-time.

    4. Social Media: They have a presence on various social media platforms such as Telegram, Skype, Twitter, Facebook, Instagram, YouTube, and LinkedIn. Clients can reach out to them through these channels as well.

    5. Company Address: The physical address of INGOT BROKERS is Unit 3, 2nd Floor, Dekk Complex, Plaisance, Mahe, Seychelles.

    INGOT BROKERS ensures that their customer service team is available 24/5 to assist clients with their inquiries and concerns.

    customer-support

    Frequently Asked Questions (FAQs)

    Q 1: Is INGOT BROKERS regulated?
    A 1: Yes. It is regulated by Australia Securities & Investment Commission (ASIC).
    Q 2: At INGOT BROKERS, are there any regional restrictions for traders?
    A 2: Yes. INGOT BROKERS does not accept clients who are citizens and/or residing in the United States of America (USA).
    Q 3: Does INGOT BROKERS offer the industry-standard MT4 & MT5?
    A 3: Yes. Both MT4 and MT5 are available.
    Q 4: What is the minimum deposit for INGOT BROKERS
    A 4: The minimum initial deposit with INGOT BROKERS is said to be $10 while opening an account requires at least $100.
    Q 5: Is INGOT BROKERS a good broker for beginners?
    A 5: Yes. INGOT BROKERS is a good choice for beginners because it is regulated well and offers various trading instruments with competitive trading conditions on the leading MT4 and MT5 platforms.

    News

    CMA License Has Been Acquired By Ingot Brokers To Expand its Presence In Kenya

    NewsCMA License Has Been Acquired By Ingot Brokers To Expand its Presence In Kenya

    2022-11-28 17:07

    INGOT expands its reach on the African continent shortly after obtaining the FSCA license in South Africa.

    WikiFX
    2022-11-28 17:07
    News
    CMA License Has Been Acquired By Ingot Brokers To Expand its Presence In Kenya
    LaLiga's MENA Financial Partner Is INGOT Brokers

    NewsLaLiga's MENA Financial Partner Is INGOT Brokers

    2022-10-19 15:11

    The first online financial broker to collaborate with a major football league is INGOT Financial Brokerage Ltd. They signed a multi-year partnership to become LaLiga's MENA Regional Financial Broker Partner. His Royal Highness Prince Ali bin Al Hussein said this to a small number of people in Amman's White Hall yesterday.

    WikiFX
    2022-10-19 15:11
    News
    LaLiga's MENA Financial Partner Is INGOT Brokers
    INGOT Acquired FSA License and Establishes New Office in Seychelles

    NewsINGOT Acquired FSA License and Establishes New Office in Seychelles

    2022-09-14 12:46

    INGOT Global Ltd. ("INGOT") today announced the acquisition of a Seychelles Financial Service Authority (FSA) license and the establishment of its first physical office on the island nation.

    WikiFX
    2022-09-14 12:46
    News
    INGOT Acquired FSA License and Establishes New Office in Seychelles
    WikiFX Review: Is INGOT BROKERS a good choice for forex traders?

    NewsWikiFX Review: Is INGOT BROKERS a good choice for forex traders?

    2022-05-25 15:52

    INGOT BROKERS is an online forex broker that recently catch many’s attention. But can you withdraw money from INGOT BROKERS? Is INGOT BROKERS legit in your country? WikiFX recently received a lot of feedback related to this broker from traders. Therefore, WikiFX made a comprehension review on this broker to help you better understand the truth, and you should never miss it.

    WikiFX
    2022-05-25 15:52
    News
    WikiFX Review: Is INGOT BROKERS a good choice for forex traders?

    User Reviews

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    bgyhj
    more than one year
    The leverage they offer is way too high, putting us traders at serious risk. I'm constantly worried about stumbling into schemes that resemble "boiler rooms". It's a major concern for me and other traders.
    2024-03-08 12:04
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    0
    0
    Montmorency Schofield
    more than one year
    INGOT BROKERS got some issues, man. The platform's cool with MT4 and MT5, but customer support moves slow, heard about tech glitches, and that Seychelles regulation feels sketchy. WikiFX ain't vibing well with complaints, and the website's not giving all the info. Gotta tread carefully with these folks.
    2023-12-06 11:22
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    0
    0
    Drucilla Van Buren
    more than one year
    INGOT BROKERS offers a diverse range of trading instruments with various account types, low spreads, and access to popular trading platforms like MT4 and MT5. However, concerns arise regarding regional restrictions, offshore regulation in Seychelles, and reported customer complaints, suggesting a need for cautious consideration.
    2023-12-05 17:48
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    0
    0
    Kazim3059
    6-12months
    I have had the privilege of trading with this brokerage for the past three years, and my experience has been exceptionally positive. Throughout this period, I have not encountered any issues related to depositing or withdrawing funds. Their dedicated support team has consistently provided me with invaluable assistance and guidance."
    2023-09-08 18:33
    Reply
    0
    0
    Phu Pham
    more than one year
    Trading on INGOT BROKERS is like tightrope walking with a safety net behind you. The additional layers of risk management procedures they provide in favour of their traders provide them with an opportunity to explore their limits and push them without risking losing more than they can handle. Great Job.
    2023-02-27 18:44
    Reply
    0
    0
    Doubel Jay
    more than one year
    To be frank, another unreliable broker that don’t deserve your time or money. Their support staff is really rude, keeping asking you to put more and more money. I had it enough, and that’s what I want to tell you guys. Their trading conditions are also terrible too.
    2023-02-14 10:09
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    0
    0
    庸俗
    more than one year
    If there's one thing I've learned in Forex, it's not to rush. Don't risk too much thinking you can get rich overnight, and don't lose a little bit of money and never invest again. Therefore, I never believe the "quick win" words of liars!
    2022-11-28 10:47
    Reply
    1
    0
    FX1054683086
    more than one year
    User-friendly interface, an expansive number of trading instruments, mt4 & mt5, they are all very good. The only downside is that the withdrawal is too slow.
    2022-11-25 17:25
    Reply
    0
    0
    曾峥
    more than one year
    I would say nothing special related to this platform, even if this broker has so many advantages over those brokers I worked with, they still ignoring my emails, for instance, when I asked them why this or that happened with my order, they simply provide me with typical respond like: it has happened during to market volatility and we have nothing to do with that. Yes, I still trade with this platform, but trust me, not what I want.
    2022-11-25 15:14
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