INGOT Brokers review

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.

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. 

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.

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.

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

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.