- Is INGOT Brokers safe or a scam?
- Trading Platform
- Deposits and Withdrawals conditions with a minimum deposit and withdrawal fee
What is INGOT Brokers?
INGOT Brokers was established in 2006 and is an Australian Broker, while further, the company diversified its portfolio to Asia, MENA and International trading regions through their offices in New Zealand, Switzerland and Bahrain.
By exploring the potential of the financial markets the broker enables to trade the range of instruments including ETFs, CFDs, Futures, Commodities, Metals, Energies, and Forex along with cryptocurrency trading. INGOT also exclusively offers trading methods with a tailored solution on MENA for shares and indices in countries such as UAE, Egypt, Saudi Arabia, Qatar and Kuwait.
General offering of INGOT, due to their understanding and importance of transparent trading conditions, INGOT Brokers provides an NDD environment of orders execution along with competitive pricing starting from 0 pips and floating leverage.
The company is also keen to continuously develop and provide the most competitive services in the market through vast support and educational sources through multilingual support team and relatively easy account opening.
In addition, the INGOT Brokers takes active responsibility to support any attempts to protect the environment, provide better education, improve health and make society a better place through their various social programs.
All in all, together with great trading opportunities INGOT through more than a decade of operation, the company gained international recognition and awards for their services.
Is INGOT Brokers safe or a scam?
INGOT Brokers is an authorized brokerage firm, regulated by the Australian Securities and Investment Commission (ASIC), read more Why trade with ASIC Brokers. Overall, regulation and serious authorization is a first thing to check while choosing broker, as e.g. ASIC requires licensed financial services providers to meet strict capital requirements and implement internal procedures including risk management, staff training, accounting and audits.
Clients’ funds are segregated completely from the operational funds of the company and kept in top-tier Australia banks such as National Australia Bank (NAB) and Westpac Banking Corporation (Westpac). In addition, INGOT provides a (PIIP) Professional Indemnity Insurance Policy is maintained with a top insurance company for each client account.
INGOT offers a customer friendly online trading platform that enables trading over 950 instruments and products in various markets ranges through only a single interface.
The INGOT platform is a market leader MetaTrader4 or also as an option you may choose next version MetaTrader5 that delivers a highly customizable trading environment that improves trading performance.
Enhanced charting functionality and sophisticated order management tools will assist in the management of positions quickly and efficiently, while Expert Advisors (EAs) able to automatically place, modify and close your orders on the Metatrader 4 & 5 platforms.
These platforms indeed very powerful and not a surprise choice, as it is very easy to use software which takes any available information on the MetaTrader platform into consideration.
MetaTrader available on the iPhone, iPad and android with no charge. While, through this application, you can control the account, trade in the financial markets and use 30 technical indicators for market analysis.
Moreover, the INGOT supports PAMM systems, which is a special set of the trading account used by money managers to manage multiple accounts simultaneously.
The account types at INGOT Brokers divided between the choice of a platform, either MT4 or MT5 one, as well as by the desired investor’s portfolio. It means, that the range offers the Forex, Equities and Commodities account, while further the accounts split to either Standard of ECN/ Premium offering.
So you will be choosing between the offered instrument, size you desire to trade and which technology to use, as we think that opportunity is indeed very useful as allows to choose the most convenient option and not to be confused with unnecessary
As mentioned variable spread which is offered by INGOT is among very competitive ones, due to its direct connectivity and market execution. The spreads and commission charge diverse by the account type and starting from 0 pips spread, which are also depending on the instrument you trade, e.g. commission for ETFs starting from 35$ or Futures trading at 10$.
Lastly, always consider rollover or overnight fee as a cost, which is charged daily in case the position is held longer than a day. Each instrument defines different ratio and may act either in your favor as refund or will be deducted as a fee.
However, since INGOT operates in the Arabic world too, there is a specifically designed account called Islamic account available on a request which is built according to the Sharia laws.
As for the leverage levels, which allow you to operate a much bigger trading size comparing to your account balance, INGOT being an Australian regulated broker still allows the highest leverage levels. However, offered leverage depending on the instrument you trade, as well as maintained account balance and level of expertise in trading.
Thus, retail traders operating through Standard accounts may access up to 1:400 for major currency pairs, while ECN account allows leverage up to 1:200.
A wide variety of deposit and withdrawal methods provide you with the choice of currency also, USD, EUR and AUD. The deposit or withdrawal may be performed via Bank Transfer, Neteller, Cards or Skrill. In addition, INGOT enables traders to fund or withdraw the account with Bitcoin or Ethereum.
The minimum deposit is depending on the account type you will be trading through. Thus, the first grade standard account requires only 100$ at the first deposit, while other account may ask for 5,000$ or 1,000$ at the very beginning.
Typically INGOT covers fees for some of the deposits, yet the payment providers may add-on internal fees, as well as e-payment incur some additional charges.
The INGOR withdrawals are processed quickly and free of charge, which makes it a great benefit for you to manage funds smartly.
Overall the INGOT Brokers review is about the Australian brokerage company that maintained offices in various financial centers to cover the client’s support need and necessity. The trading environment performs the execution with NDD model, yet some instruments may require instant execution but deliver competitive spreads and commission offerings.
The broker offers a great range of instruments to trade, the variety of the account type to choose from, as well as advanced options of the platforms and supportive materials. All in all, INGOT is a reliable choice due to its full compliance with the regulations of one of industry-leading authority ASIC and quite pleasant conditions to trade.
And of course, it would be great to know your personal opinion or discovering about INGOT. In the comment area below you may leave your point of view, or ask for some additional information, if necessary.
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