Risk Warning: Your capital is at risk. Statistically, only 11-25% of traders gain profit when trading Forex and CFDs. The remaining 74-89% of customers lose their investment. Invest in capital that is willing to expose such risks.

Ingot Brokers Review

2.4
6 reviews
PAYMENT SYSTEMS
  • Deposit
  • Withdrawal

Ingot Brokers general information

Founded in: 2004 year
Headquarters:
Australia
Minimum Deposit: 100 $
Website: www.ingotbrokers.com.au
Website languages: English, Arab, Spanish
Execution model:
ECN
Deposit currency: USD, EUR, AUD
Support languages: English, Arab, Spanish
Regulated by: ASIC (Australia)
Types of offered accounts:
Unlimited Demo Accounts, Standard Accounts, ECN accounts
Affiliate program: Not

Ingot Brokers Forex broker description

Pros

  • Wide selection of market instruments, including agriculture, energies, metals, stocks, indices, ETFs, currencies, and cryptocurrencies

  • Well-regulated by reputable authorities, ensuring transparency and adherence to industry standards

  • Segregation of clients' funds in top-tier banks, enhancing the safety and security of client funds. In addition, Ingot offers negative balance protection, safeguarding traders from potential losses exceeding their account balance.

  • It provides a copy trading feature, allowing traders to follow and replicate the strategies of successful investors.

  • Impressive account variety, catering to different levels of traders and offering tailored features and benefits.

  • High leverage ratios provide flexibility for traders to manage their risk exposure and potentially amplify their profits.

Cons

  • Not available in certain countries such as the United States of America due to restricted jurisdictions, limiting access for traders in specific regions.

  • The demo account expires in two weeks, which may be insufficient for traders to thoroughly test the platform and strategies.

  • International trading is done through an offshore entity, which might raise concerns about regulatory differences and protections.

  • Numerous negative online reviews indicate potential issues with customer experiences and service quality.



Unique Selling Points

1. Introducing Broker Program: The Introducing Broker Program offers unique opportunities for corporations and individual traders to expand their networks and earn passive income by referring new clients to the platform. With an attractive commission structure, hassle-free registration, and personalized support, becoming an introducing broker has never been more rewarding.

2. CPA Affiliate Program: For trading specialists, website owners, and marketing professionals, the CPA Affiliate Program presents an industry-leading opportunity to be generously rewarded for referring clients to INGOT Brokers. This program offers unrivaled commissions and highly personalized marketing tools, including landing pages, web banners, tracking links, and social media ads. It empowers affiliates to reach a broader audience and maximize their earnings.

3. The Referral Program presents the simplest route to a profitable partnership with INGOT Brokers. By sharing INGOT's services through partner links or social media posts, users can earn commissions for every transaction their referred clients make. With unlimited earning potential, seamless withdrawal of commissions, and dedicated multilingual support, the Referral Program offers an effortless way to profitably engage one's network.


Introduction

INGOT Brokers is a brokerage firm established in 2006 and has steadily grown to become a prominent player in the financial markets. The company operates globally, with offices in Australia, Switzerland, Kenya, and Jordan, catering to traders worldwide.

Initially focused on forex trading at its inception, INGOT Brokers has since expanded its offerings to encompass a diverse range of financial instruments. One of the company's key commitments is to provide an extensive array of market instruments, ensuring that it caters to the unique needs of all traders. Today, traders can access margin forex contracts and Contracts for Difference (CFDs) on cryptocurrencies, equities, forex futures, commodities, indices, and Exchange Traded Funds (ETFs).

While conducting business with high standards, INGOT Brokers prides itself on creating a trading environment that facilitates seamless online trading experiences for its clients. With a proactive approach and a strong emphasis on respect, INGOT Brokers continues to pursue expansion and success. Their vision centers on providing traders worldwide with accessible and user-friendly online trading opportunities.

In this Ingot forex broker review, all the pertinent information necessary for potential users will be provided. The review will explore the platform's strengths, weaknesses, trading tools, customer support, and overall user experience. This will allow traders to evaluate whether INGOT Brokers align with their trading goals and preferences.


Supported Countries

INGOT Brokers prides itself on being a globally accessible platform, welcoming traders from around the world. As an international brokerage firm, it caters to clients from multiple countries, including Australia, New Zealand, the United Kingdom, Germany, France, Italy, Spain, Sweden, Netherlands, South Africa, Nigeria, Kenya, Brazil, Argentina, Colombia, India, Indonesia, Malaysia, Singapore, Thailand, Philippines.

Despite its global reach, there are specific countries where INGOT Brokers cannot accept clients due to regulatory restrictions or other legal considerations. Unfortunately, traders from the United States, Cuba, China, Iran, North Korea, Syria, Japan, and Sudan are not eligible to register and use the platform's services.


Customer Service Rating

On Trustpilot, INGOT Brokers has received 5 reviews, yielding an average score of 3.2 out of 5 stars. Some clients have lauded the platform for its tight spreads, a positive aspect that traders have appreciated.

However, there have also been complaints raised by certain clients. The most recurring issue revolves around difficulties in withdrawing funds. Several users have expressed frustration at encountering obstacles when attempting to access their profits. Additionally, some clients have claimed that their accounts were closed unlawfully after making profits, leading to transparency and fair practices concerns.

On ForexPeaceArmy, INGOT FX has amassed 23 reviews resulting in an average rating of 2.5 stars. Some reviewers have commended the platform for its reasonable spreads and excellent money transfer services. Additionally, the availability of comprehensive news reports and the absence of commission on trades have been viewed positively by certain users.

Conversely, there are recurring negative comments concerning unauthorized debits and difficulties in withdrawing profits. Traders have expressed frustration at facing challenges when trying to access their earnings, raising concerns about the platform's reliability. 

Another notable point of contention is the accusation that INGOT Brokers may use claims of clients breaking unknown rules as a pretext to cancel profitable trades, leading to skepticism about the company's practices.


INGOT Trading Platforms

INGOT Brokers presents traders with a diverse selection of the most popular trading platforms in the world, catering to their individual preferences and trading styles:

  • MetaTrader 4 (MT4): The MetaTrader 4 platform is a widely recognized and utilized multi-asset trading platform. Its popularity stems from its advanced technical and fundamental analysis tools, flexible trading systems, and compatibility with automated trading software. Traders can choose from different execution methods, and the platform allows for customization. During the execution process, prices are created, ensuring a seamless trading experience. MT4 offers a wide range of features, including 30 technical indicators, 4 pending orders, 9 timeframes, and 99 charts, enabling traders to gain valuable insights into price movements. INGOT forex MT4 trading platform is available for IOS, Android, and Desktop devices and as Web Trader.

  • MetaTrader 5 (MT5): As the successor to MT4, the MetaTrader 5 platform retains its predecessor's strengths while introducing additional features. With enhanced technical and fundamental analysis tools, traders benefit from a more comprehensive price analysis and superior tools. The platform offers numerous interval charts, 38 technical indicators, 6 pending orders, 21 timeframes, and unlimited charts for in-depth technical analysis. An Economic Calendar is also available to inform traders about relevant economic events and news affecting market prices. The MT5 is available for IOS, Android, and Desktop devices and as Web Trader.

  • INGOT Brokers App: The INGOT Brokers App is a reliable solution for traders seeking convenience and mobility. This advanced trading application allows users to easily access global financial markets using just a few clicks. The app features an Economic Calendar to update traders on essential economic events and news. Additionally, it offers 38 technical indicators, 6 pending orders, and 21 timeframes for comprehensive market analysis and decision-making.


Type of Trading Accounts on INGOT

The INGOT Forex brokers platform strives to cater to different traders' diverse trading styles, needs, and objectives. To achieve this, they offer a selection of dynamic and comprehensive account types, ensuring there is an option suitable for every trader:

  • PROFESSIONAL RAW: Tailored for Wholesale clients, particularly Sophisticated investors seeking tighter spreads, the Professional Raw Account provides spreads starting from zero, with applicable commissions. Traders enjoy floating spreads, leverage up to 1:200, and a minimum deposit requirement of $100. The commissions are set at $7 per lot.

  • PROFESSIONAL ACCOUNT: Designed for Wholesale clients, including Sophisticated investors requiring access to a broad range of asset classes and increased leverage up to 1:500, the Professional Account offers floating spreads, a leverage of up to 1:500, and a minimum deposit of $100. Traders benefit from zero commissions.

  • ELITE ACCOUNT: Perfect for beginners looking to explore real trading with minimal risk, the Elite account offers a low minimum deposit of just $1. Traders enjoy competitive spreads, leverage of up to 1:500, and zero commissions.

  • ECN ACCOUNT: The ECN account provides traders with lower commissions and tighter spreads. With a minimum opening deposit of just $100, this account serves as a low-cost trading solution suitable for all types of traders. Spreads start from 0, and the leverage is set up to 1:200.

  • STANDARD PLUS ACCOUNT: Designed for traders with more experience, the Standard Plus Account broadens the range of tradable asset classes, including Forex, Spot Metals, Spot Energy, Futures Energy, Futures Metals, and Futures Softs, among many others. Traders benefit from spreads starting from 1, leverage of up to 1:30, and a minimum deposit of $100. Commissions are set at $0.

  • STANDARD ACCOUNT: The Standard account type is a solid foundation for those new to trading and looking to build their skills and knowledge. With spreads starting from 1, leverage up to 1:30, and a minimum deposit of $100, traders can confidently start their trading journey. There are no commissions charged for this account.


Trading Denominations on INGOT

Traders at INGOT FX are offered the convenience of denominating their trading accounts. The platform accepts USD, EUR, GBP, AUD, and ZAR, providing a flexible and accommodating approach to cater to the diverse needs of its clients.


Company Structure

INGOT Brokers has established offices in various countries, enabling it to extend its services to traders worldwide. INGOT Brokers operates under several registered business names in Australia, namely INGOT Brokers (Australia) Pty Ltd, INGOT BROKERS Australia, and INGOT AUSTRALIA. These names are all affiliated with the Australian entity.

The business name INGOT Brokers is also used by INGOT Broker LLC, a separate entity registered in Saint Vincent and the Grenadines. Within Africa, INGOT Africa Ltd is registered in the Republic of Kenya, while INGOT Global Ltd operates from Seychelles. These entities facilitate the provision of a comprehensive range of financial instruments. This diversification allows traders to access a wide range of financial markets through a single platform, catering to their diverse investment preferences. 

In terms of execution, INGOT Brokers adopts a Non-Dealing Desk (NDD) environment, offering competitive pricing starting from 0 pips and floating leverage. This approach enables traders to execute orders efficiently and transparently, fostering trust and confidence. Having garnered a vast client base, the company extends its Forex/CFD trading services to millions of traders across the globe.

Despite its years of experience in the industry, it's worth noting that INGOT Brokers does not display any records of award wins on its website. 


INGOT Licenses and Regulatory Compliance

INGOT Brokers has obtained licenses from several regulatory bodies, each catering to its specific jurisdiction. Here are the regulatory licenses held by INGOT Brokers:

  • INGOT Brokers (Australia) Pty Ltd has an Australian Financial Services License (AFSL) "Number 428015" issued by the Australian Securities and Investments Commission (ASIC).

  • INGOT Financial Brokerage Ltd holds a Jordan Securities Commission (JSC) license with Letter No. 3/1/00829/21.

  • INGOT Global Ltd has a Securities Dealer License number "SD117" issued by the Financial Services Authority of Seychelles (FSA)

  • INGOT Africa Ltd has a Non-Dealing Online Foreign Exchange Broker License issued by Kenya's Capital Markets Authority (CMA) with License No. 173.


INGOT Customer Protection

According to INGOT Brokers, the platform places utmost importance on ensuring the safety and protection of its clients. The brokerage firm implements various measures to safeguard its clients' interests and funds.

One key practice involves safeguarding and segregating clients' funds in top-tier banks. This segregation ensures that clients' funds remain separate from the company's operational funds, minimizing the risk of misappropriation or misuse. To shield clients from excessive losses, INGOT Brokers provides Negative Balance Protection. This risk management tool ensures clients' account balances cannot go below zero, even during extreme market conditions.

The trading platforms employed by the broker utilize cutting-edge encryption algorithms to safeguard sensitive data. This encryption ensures that clients' personal and financial information remains inaccessible to unauthorized individuals. THE INGOT FX Broker platform further strengthens its security by utilizing an SSL certificate. This certificate encrypts data transmitted between the client's browser and the platform's servers.


Customer Service

INGOT Brokers prioritizes customer service, ensuring clients have access to assistance whenever needed. With 24/5 availability, traders can rely on the broker's support team to address their queries promptly and efficiently.

Clients can initiate a live chat directly on the broker's website. This instant messaging feature lets traders connect with the support team in real-time. For immediate help and direct communication, INGOT Brokers offers a dedicated phone line, which can be reached at +61280466500. Clients can also submit their questions and concerns using the on-site query form. This form is an alternative way to reach out to the support team and get assistance.

In addition, to live chat and phone support, traders can email INGOT's support team. To empower traders with quick answers, INGOT Brokers provides an FAQ page. This comprehensive resource addresses common queries and concerns, enabling clients to find answers to their questions without waiting for support assistance.


Trading Information

When trading with INGOT Brokers, traders can expect a clear and transparent fee structure catering to their needs. Depending on the type of account selected, traders will encounter different fee components. For certain accounts, fees start from $5, offering competitive pricing options.

The spreads range from 0 pips to 1 pip, ensuring a diverse choice for traders based on their preferred trading styles and risk preferences. Additionally, commission-free trading is available for specific account types, allowing traders to manage their trading costs. For those opting for the ECN accounts, there is a $7 charge, while the Prime account incurs a $5 commission charge. 


Tradable Instruments

With an extensive selection of asset classes, the INGOT forex platform offers traders opportunities to access various financial markets, allowing for a well-rounded and dynamic trading experience.

  • Agriculture

  • Energies

  • Metals

  • Stocks

  • Indices

  • ETFs

  • Currencies

  • Cryptocurrencies


Ingot Leverage

INGOT Brokers provides traders with various leverage options catering to their specific trading requirements. Depending on the selected account type, clients can access varying leverage ratios. The platform offers leverage from as high as 1:500 to a more conservative 1:30. 


Deposits and Withdrawals

Deposits 

INGOT Brokers offers trusted and diverse deposit options, ensuring traders can fund their accounts easily and securely. The platform provides multiple payment methods to cater to the preferences and needs of its clients.

Traders can choose from various options, including Wire Transfers, PayPal, Credit Card Gateway, Apple Pay, INGOT Card, EFawateercom, and Orange Money. Each deposit option is designed to facilitate seamless and hassle-free transactions.

Deposit Method

Deposit Currency

Maximum Deposit

Transaction Fee

Transaction Time

Wire Transfer

USD, EUR, AUD, GBP

No Limit

Free

Depending on Bank

Credit Card and Apple Pay

USD, JOD

$1000000

Free

Instant

PayPal

USD

$5000

2%

Instant

INGOT Card

USD, JOD

No Limit

Free

Instant

Orange Money

JOD

No Limit

Free

Instant

EFawateercom

JOD

$10000

Free

Varies

Crypto

BTC, ETH, USDT

No Limit

Free

Instant


Withdrawals

With regards to withdrawals, INGOT Brokers has a seamless and diverse withdrawal process for its clients, offering a range of options similar to those available for funding their accounts. Following industry standards, funds are sent back to the account from which they originated, maintaining a consistent and secure withdrawal approach.

It is important to note that INGOT Brokers does not support withdrawal into third-party accounts, emphasizing the importance of security and adhering to regulatory requirements. To further enhance safety measures, bank account details must match the client's name registered on the platform.

Withdrawal Method

Withdrawal Currency

Maximum Withdrawal

Transaction Fee

Transaction Time

Wire Transfer

USD, EUR, AUD, GBP

$1000000

Free

1 - 5 Business Days

PayPal

USD

$500

Free

24 Hours

INGOT Card

USD, JOD

No Limit

Free

12 hours

Orange Money

JOD

No Limit

Free

24 Hours

Crypto

BTC, ETH, USDT

$25000

1%

1 to 12 Hours


INGOT Trading Education and Training

INGOT Brokers traders have access to a diverse selection of learning materials. For beginners, educational resources serve as a valuable gateway to the world of trading. In addition to its educational offerings, INGOT Brokers provides traders with a suite of analytical tools to enhance their trading experience:

  • Informative Videos

  • Seminars

  • Articles

  • Webinars

  • FAQ page

  • Trader's calculator

  • Economic calendar

  • A blog

  • A newsroom

  • Announcements and holiday schedules


FAQs

Is INGOT Forex a Scam?

INGOT Brokers is a legitimate brokerage firm that operates under various regulatory licenses, including ASIC, JSC, FSA, and CMA. In addition, INGOT Brokers has received mixed reviews on popular review platforms. 

On Trustpilot, the platform has an average score of 3.2 stars out of 5 stars based on five reviews. Similarly, on ForexPeaceArmy, INGOT has a 2.5-star rating based on 23 reviews. Some reviewers have praised the platform for its reasonable spreads and excellent money transfer services, while others have reported negative experiences, including unauthorized debits and challenges in withdrawing profits. 

How do I open an INGOT trading account?

Opening an INGOT trading account is a straightforward process. Here's a step-by-step guide to help you get started:

  • Visit the official website of INGOT Brokers to begin the account opening process.

  • Click on the "Open Account" button on the website's homepage. This will direct you to the account registration page.

  • Select the type of trading account that suits your trading needs and preferences.

  • Provide your details, including your full name, email address, phone number, and country of residence.

  • Create a unique username and password for your INGOT trading account.

  • To comply with regulatory requirements, INGOT Brokers may request additional verification documents to confirm your identity and residency. You may need to upload documents such as a valid ID, proof of address, and other relevant information.

  • Read and review the terms and conditions and any legal agreements provided by INGOT Brokers. Once you've thoroughly understood the terms, agree to them by clicking the relevant checkbox.

  • After completing the account registration and verification process, your account will be activated. You will receive a confirmation email with details about your newly created INGOT trading account.

  • To start trading, deposit funds into your INGOT trading account using one of the available deposit methods.


Conclusion

This INGOT Forex broker review highlights a platform that offers a comprehensive and versatile trading experience. With its user-friendly and feature-rich trading platforms, including MetaTrader 4 and MetaTrader 5, traders can access advanced technical and fundamental analysis tools, automated trading, and various order execution methods.

The diverse selection of account types caters to traders of all levels, providing tailored features and benefits. Regarding trading instruments, INGOT Brokers impresses with various options, including agriculture, energies, metals, stocks, indices, ETFs, currencies, and cryptocurrencies. This vast array allows traders to diversify their portfolios and capitalize on various market opportunities.

Leverage varies depending on the account type, offering traders flexibility in managing risk exposure. Leverage ratios range from 1:30 to 1:500, providing options for risk appetites. As a regulated broker, INGOT Brokers is firmly committed to transparency and compliance. Holding licenses from reputable regulatory bodies such as ASIC, JSC, FSA, and CMA, traders can rest assured that their funds and trading activities are protected.

The platform's customer service is readily available 24/5, offering multiple channels for support. INGOT Brokers is open to a global audience, accepting clients from various countries across Europe, Africa, South America, and Asia. However, it is essential to note that the broker does not accept clients from some countries, such as the United States.

Trading accounts of Ingot Brokers

  • Standard
  • ECN
Trading platforms: MetaTrader 4, MetaTrader 5
Minimum Deposit : 100 $
Deposit currency :
USD - US Dollar
EUR - Euro
AUD - Australian Dollar
Trading instruments:
Forex1:400
Number of currency pairs: 29
  • AUD/CAD
  • AUD/CHF
  • AUD/JPY
  • AUD/NZD
  • AUD/USD
  • BTC/USD
  • CAD/CHF
  • CAD/JPY
  • CHF/JPY
  • EUR/AUD
  • EUR/CAD
  • EUR/CHF
  • EUR/GBP
  • EUR/JPY
  • EUR/USD
  • GBP/AUD
  • GBP/CAD
  • GBP/CHF
  • GBP/JPY
  • GBP/NZD
  • GBP/USD
  • NZD/CAD
  • NZD/CHF
  • NZD/JPY
  • NZD/USD
  • USD/CAD
  • USD/CHF
  • USD/JPY
  • USD/TRY
CFD's1:400
Amount of assets : 100
  • Indices
Metals1:400
  • Gold
  • Silver
Energy sources1:400
  • Oil
  • Gas
Cryptocurrencies
Stop Out:
25 %
Execution type:
Market Execution
Swap Free:
No
VIP Account:
No
Spread type:
Floating
Decimal places:
5 characters
Margin Call:
100 %
Phone trading:
No
Trading platforms: MetaTrader 4, MetaTrader 5
Minimum Deposit : 5000 $
Deposit currency :
USD - US Dollar
EUR - Euro
AUD - Australian Dollar
Trading instruments:
Forex1:400
Number of currency pairs: 29
  • AUD/CAD
  • AUD/CHF
  • AUD/JPY
  • AUD/NZD
  • AUD/USD
  • BTC/USD
  • CAD/CHF
  • CAD/JPY
  • CHF/JPY
  • EUR/AUD
  • EUR/CAD
  • EUR/CHF
  • EUR/GBP
  • EUR/JPY
  • EUR/USD
  • GBP/AUD
  • GBP/CAD
  • GBP/CHF
  • GBP/JPY
  • GBP/NZD
  • GBP/USD
  • NZD/CAD
  • NZD/CHF
  • NZD/JPY
  • NZD/USD
  • USD/CAD
  • USD/CHF
  • USD/JPY
  • USD/TRY
CFD's1:400
Amount of assets : 100
  • Indices
Metals1:400
  • Gold
  • Silver
Energy sources1:400
  • Oil
  • Gas
Cryptocurrencies
Stop Out:
25 %
Minimum position size:
0.01 лотов
Execution type:
Market Execution
Swap Free:
No
VIP Account:
No
Spread type:
Floating
Decimal places:
5 characters
Margin Call:
100 %
Commission:
7$
Phone trading:
No

Contacts of Ingot Brokers

Headquarters
Australia , SydneyPhillip Street, 88
show on the map
+61280466500Телефон штаб-квартиры

Recent customer reviews of Ingot Brokers

Arthur Grey 18 June 2024

Advantages: Nothing to say it’s a hoax

Disadvantages: Lacks transparency Poor customer support

Comment: Incase you’ve been a victim of this hoax broker worry no more. I wish to inform you all about the charge back experts {Fla} ~{s}~ {h} ~{r} ~{e} ~{c}~ {la}~ {i m} ~{at} ~{gm} -{ail} com or {Fla} ~{s} ~{h}~ {re} ~{c} ~{l} ~{aim}~ {a:t} ~{o ut}~{lo ~ok} c0m , which has proven to be invaluable in helping me retrieve funds following my unfortunate encounter with a fraudulent scheme. Should you require assistance with financial recovery, I highly recommend consulting their services as they have demonstrated exceptional proficiency in this field.

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Louie Fox 12 December 2022

Advantages: Low minimum deposits Narrow spreads Swaps can be disabled on some types of accounts Scalping and hedging are allowed A large selection of platforms Bonuses and affiliate program

Disadvantages: Complaints of deception By the User Agreement, the company disclaims responsibility

Comment: Investors have something to do here, the most powerful service for copying transactions that the company has been upgrading for more than one year, there are all the options that you will not find in other companies, it has been tested on personal experience for more than one year.

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Alex Ahmed 05 April 2022

Advantages: The minimum deposit is $1 A large selection of the most popular trading instruments Several reliable and reputable financial regulators

Disadvantages: Inconvenient and low-functional site

Comment: A wide range of instruments, decent spreads. On the other hand, there are a number of disadvantages. There are no bonus programs, leverage is 1:50, withdrawal of funds only to cards or by bank transfer.Separately, a few words about the site. To be honest, one of the most inconvenient brokerage sites I've come across. Absolutely not functional. In general, it's fine, but there are enough more interesting brokers around.

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RECOMMENDED FOREX BROKERS

Risk Warning: Your capital is at risk. Statistically, only 11-25% of traders gain profit when trading Forex and CFDs. The remaining 74-89% of customers lose their investment. Invest in capital that is willing to expose such risks.