Broker INGOT offers to start trading in minutes – you just need to enter the necessary data to get access to the largest financial markets. The service serves both private traders and corporate accounts, and also invites you to take part in the affiliate program.
Despite 15 years of experience and official regulation, the company is increasingly receiving negative reviews. Can this broker be considered a scam?
Basic information about the INGOT service
INGOT has two versions of the site along with two divisions. One is registered in Australia and licensed by the ASIC regulator. The second – indicates the address on the islands of Saint Vincent and the Grenadines, where each scam settles. Moreover, the broker reports that it is regulated by the SVGFSA, but not so long ago the regulator itself said that it was not involved in licensing financial institutions.
By the way, it was not possible to find a license in the ASIC registry. To find out the real age from the INGOT official site is also, since the creators prudently prohibited archiving. The broker also does not want to spread about himself; all he says is the foundation of the brand in 2006.
How to contact a broker? Contacts
Although the INGOT broker has over 36,000 subscribers on the Facebook social network, there is zero activity on the page. The page was created in 2011 and is regularly updated.
The minimum number of communication methods is offered. The customer can contact a support representative through the contact form, email and phone number. It is pointless to look for a broker at the address leading to the banana islands.
Platform – tools and training
The official website looks simple and bright, it cannot boast of a modern design. Nevertheless, it has everything you need – there is a section with news feed, reviews, market trends, calendar of events and dividend payments. The section with training materials contains articles and video tutorials.
As reported by INGOT reviews, the broker offers a classic set of trading terminals. The user can open trades and monitor current positions on the MT4 or MT5 platform. Indicators and automated trading by advisors are also at the trader’s disposal.
How to trade with INGOT broker? Conditions and withdrawals
You can trade stocks, cryptocurrencies, currencies, funds, indices and commodities. There are four types of trading accounts to choose from, and they do not differ in specifics:
Professional – the deposit is $ 100, broker commissions are not charged, leverage is available up to 1: 500. The average spread is 1 pip.
ECN – zero spreads and $ 7 commission are the key features of this INGOT account. Leverage varies up to 1: 200.
Booster – the same conditions as in Professional, but with a leverage of 1: 100.
Prime – a trader needs to deposit from $ 25,000 to get spreads from 0 pips, 1: 100 leverage and $ 5 commission.
The broker allows hedging and algorithmic trading and offers negative balance protection. With INGOT, funds withdrawal and replenishment occurs in two ways – by money transfer and cryptocurrency. In both cases, the transaction cannot be canceled.
Conclusion – is it worth trading with INGOT?
A loyal entry threshold and a standard set of tools, along with Australian regulation, can bribe novice traders. However, the lack of legal transparency and confusion with documents should not be overlooked. The broker also hides management details and is clearly not considered popular on social media.
In addition, negative reviews about INGOT appear on the Internet with an enviable frequency – Russian-speaking traders cannot say anything good about the service. They warn that the dealer allows slippage, blocks accounts, refuses to withdraw funds.
