Ingot Brokers Review
Ingot Brokers Forex broker description
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.
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.
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.
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.
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.
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.
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
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.
USD, EUR, AUD, GBP
Depending on Bank
Credit Card and Apple Pay
BTC, ETH, USDT
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.
USD, EUR, AUD, GBP
1 - 5 Business Days
BTC, ETH, USDT
1 to 12 Hours
Contacts of Ingot Brokers
Recent customer reviews of Ingot Brokers
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.
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.
Advantages: Immediate execution of orders Access to the global market with a single easy-to-use platform Risk management strategies Huge selection of trading instruments
Disadvantages: Withdrawal rate
Comment: The company provides a wide range of trading instruments that allow customers to receive maximum income.When registering in the system, the client receives protection from a negative balance. The brokerage company provides access to all instruments of the international market. The company focuses on the use of the latest technologies, but in fact it has only two working terminals at its disposal. But you can choose one of the presented platforms.