Advertising Disclosure
Updated:
Leverage: 1:30 | 1:400
Regulation: CySEC
Min. Deposit: $250
HQ: Cyprus
Platforms: Webtrader, MT4 Desktop, Mobile App
Found in: 2016
IGM FX is a CFD and Forex trading broker that was founded in 2016 in Cyprus. The brokerage firm offers a wide range of trading products, including more than 160 CFDs on assets such as Forex, Stocks, Indices, Commodities, Metals, and Cryptocurrencies.
Based on our findings, IGM FX is regulated by the Cyprus Securities and Exchange Commission (CySEC) and offers trading opportunities to both beginner and experienced traders in various global markets.
Overall, the broker provides a secure and competitive trading environment for both retail and professional trading. This is made possible through its proprietary Webtrader and Desktop platforms, which offer a user-friendly interface for conducting trading activities, also quite a balanced proposal that might suit various trading expectations.
Upon our analysis, we have identified some benefits and drawbacks to consider when selecting IGM Fx as your Forex trading broker. For the pros, the broker provides a variety of trading accounts with access to a wide selection of CFDs on major, minor, and exotic currency pairs. Additionally, IGM Fx offers competitive pricing with low spreads, as well as the opportunity to select leverage up to 1:400 for Professional trading.
For the cons, the company does not offer 24/7 customer support, which may be inconvenient for some traders. Also, the absence of an education and research section on the website, limits access to educational resources for clients. Another limitation is that the firm is regulated by only one regulatory body, which could be a drawback for some traders with the inability to open an account.
| Advantages | Disadvantages |
|---|---|
| CySEC regulation and oversee | No 24/7 customer support |
| Available for European traders | No educational and research materials available |
| Low minimum deposit | One regulatory body |
| Commission-free trading | |
| Low spreads | |
| Investor Compensation Fund | |
| Suitable for retail and professional trading |
| 🏢 Headquarters | Cyprus |
| 🗺️ Regulation | CySEC |
| 🖥 Platforms | Webtrader, MT4 Desktop, Mobile App |
| 📉 Instruments | CFDs on Forex, Stock, Indices, Commodity, Metals, and Cryptocurrency |
| 💰 EUR/USD Spread | 0.7 pips |
| 🎮 Demo Account | Not available |
| 💳 Minimum Deposit | $250 |
| 💰 Base Currencies | EUR, USD, GBP |
| 📚 Education | Limited |
| ☎ Customer Support | 24/5 |
Per our research, we found that the broker offers reliable and competitive trading services with low fees and spreads for a range of trading instruments. So, we can confidently conclude that IGM Fx is a suitable choice for both novice and seasoned traders.
| Ranking | IGM Fx | VPFX | NCM Investment |
|---|---|---|---|
| Our Ranking | ⭐⭐⭐⭐⭐ | ⭐⭐⭐⭐⭐ | ⭐⭐⭐⭐ |
| Advanatages | Trading Products | Spreads | Trading Services |
While IGM Fx provides favorable trading conditions, there may be other brokers in the market that offer similar or even better trading services based on personal preference. Some of these brokers may have advantages in terms of instrument range, additional licenses, or educational materials allowing them to serve traders globally. Therefore, we have compiled a list of the broker’s main competitors for you to consider exploring:
No, IGM Fx is not a scam. It is a reliable and secure brokerage firm that follows the strict rules and guidelines established by CySEC, the European regulatory authority that oversees its operations.
Yes, IGM Fx is a legit and regulated broker.
Compliance with the regulatory requirements set by CySEC enhances the safety and confidence of traders who choose to trade with IGM Fx.
See our conclusion on IGM Fx Reliability:
| IGM Fx Strong Points | IGM Fx Weak Points |
|---|---|
| Funds protection | None |
| Negative balance protection | |
| Investor compensation fund |
IGM Fx prioritizes the safety and security of its clients’ funds by segregating them from the firm’s accounts and not using them for operational purposes. Also, the broker provides different protective measures, such as negative balance protection which is great during times of market volatility to ensure the safety of traders’ accounts that do not go below 0. Moreover, the broker is a member of the Investor Compensation Fund, which provides protection to retail clients in case the company fails to fulfill its financial obligations.
Leverage is a popular trading tool that allows Forex traders to enter the market with limited capital and gain greater exposure. However, it can result in substantial gains or losses as well. Therefore, you must comprehensively understand how leverage operates and its potential consequences before engaging in any trading activities involving leverage.
IGM Fx leverage is offered according to the CySEC regulation:
Based on our findings on IGM Fx broker, traders have the option to select between Retail and Professional account types: Classic, Silver, Gold, and Vip, which offers quite a good flexibility to choose conditions that might suit your trading need better. For Professional accounts, traders have the opportunity to select leverage with a maximum limit of up to 1:400.
| Pros | Cons |
|---|---|
| Fast and easy account opening | No Demo account |
| Account base currencies EUR, USD, GBP | |
| Minimum deposit amount is $250 | |
Opening an account with a broker is quite easy. You can open it within minutes. Just follow the opening account or sign-in page and proceed with the guided steps:
IGM Fx offers clients the opportunity to trade over 160 CFDs on more than 40 Forex pairs, Stocks, Indices, Commodities, Metals, and Cryptocurrencies. Forex trading is particularly popular among these markets due to its widespread recognition, high liquidity, and competitive spreads.
In terms of fees, we found that the broker offers competitive pricing for trading instruments. However, certain charges may be applicable to deposits and withdrawals, depending on the selected funding method. Also, bear in mind additional fees, such as swap or rollover fees, may be incurred during trading activities.
| Fees | IGM Fx Fees | VPFX Fees | NCM Investment Fees |
|---|---|---|---|
| Deposit fee | Yes | Yes | Yes |
| Withdrawal fee | Yes | Yes | Yes |
| Inactivity fee | Yes | No | No |
| Fee ranking | Average | Average | Average |
Based on our test trade, IGM Fx provides low floating spreads with an average spread of 0.7 pips for the widely-traded EUR/USD currency pair in the Forex market, which is an attractive option for traders considering the average in the industry at 1.2 pips. Additionally, the broker provides competitive spreads for all major currency pairs and other popular trading instruments too.
| Asset/ Pair | IGM Fx Spread | VPFX Spread | NCM Investment Spread |
|---|---|---|---|
| EUR USD Spread | 0.7 pips | 1.2 pips | 2 pips |
| Crude Oil WTI Spread | 0.03 | 3 | 3 |
| Gold Spread | 60 | 1 | 1 |
The broker offers a few funding methods to its clients to deposit funds into trading accounts, including bank wire transfers, credit/debit cards, and online payment systems like Skrill and Neteller. However, being a European Broker some payments might not be available for you personally so good to check conditions in advance.
Here are some good and negative points for IGM Fx funding methods found:
| IGM Fx Advantage | IGM Fx Disadvantage |
|---|---|
| Multiple account base currencies | None |
| Fast digital deposits | |
| Popular funding methods |
To open a live trading account with IGM Fx, traders are required to deposit a minimum amount of $250, which is considered a good offering overall.
IGM Fx minimum deposit vs other brokers
| IGM Fx | Most Other Brokers | |
| Minimum Deposit | $250 | $500 |
As we found, traders can expect a smooth and quick withdrawal process with IGM Fx, enabling them to access their funds efficiently. However, conditions usually vary by the payment provider and might take several days to appear in your account.
Here are the steps on how to withdraw funds from your trading account:
The broker offers its proprietary web-based platform called IGM FX Webtrader, as well as the IGM FX MT4 desktop platform and a mobile app for MT4. These platforms offer a wide range of features including technical indicators, trading analysis tools, intuitive interfaces, multiple execution options, and various order types.
| Platforms | IGM Fx Platforms | VPFX Platforms | NCM Investment Platforms |
|---|---|---|---|
| MT4 | Yes | Yes | Yes |
| MT5 | No | Yes | Yes |
| cTrader | No | No | No |
| Own Platforms | Yes | No | No |
| Mobile Apps | Yes | Yes | Yes |
Per our analysis, the IGM FX MT4 Desktop platform provides traders access to over 30 technical indicators for effective management of trading strategies. The platform offers a user-friendly interface, allowing for seamless navigation and utilization. Additionally, traders can access all 160+ available markets through the platform, accompanied by interactive charts and complimentary trading analysis tools.
We found IGM Fx customer support is available 24/5 through Email and Phone. The Broker has a team of experienced trading specialists who are available to help clients with various issues. These include technical problems, general inquiries, and operational concerns.
See our find and ranking on Customer Service Quality:
| Pros | Cons |
|---|---|
| Phone support and email | No 24/7 customer support and live chat |
| Quick responses | |
| Relevant answers |
In the end, the broker lacks a dedicated section on its website for educational materials, seminars, and webinars. This absence can be considered a drawback since educational resources play a crucial role in the development and improvement of traders’ skills. However, as we found Webtrader platform provides traders with access to some basic free educational materials and resources mainly with general tools.
In summary, IGM Fx is a good established Forex trading company that allows both retail and business clients to access a diverse range of financial products. The broker’s presence in Cyprus and regulation by CySEC ensures a trustworthy trading environment.
IGM FX provides clients with the widely used MetaTrader 4 Desktop platform, equipped with a variety of useful trading tools and strategies. However, the broker lacks a dedicated section for educational materials, seminars, and webinars. Additionally, 24/7 customer support and live chat are not available.
Overall, the company offers secure trading platforms and competitive trading conditions. However, since every trader has unique requirements, you should carefully assess whether IGM Fx suits your specific trading goals and preferences
Based on Our findings and Financial Expert Opinions IGM Fx is Good for:
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