Pros
- Offers very high leverage up to 1:1000 on some accounts
- Wide range of account types (ECN, Prime, Booster)
- Access to varied markets including agriculture and ETFs
- Negative balance protection is claimed in policies
- Uses MetaTrader 4 and MetaTrader 5 platforms
Cons
- This specific entity holds a low trust score suggesting offshore risk
- Regulation is weak (SVG FSA) compared to their global branches
- User feedback indicates issues with slippage during volatility
- Withdrawal processes can be bureaucratic and slow
Basic Information
User Reviews
Regulation Analysis
This specific profile for INGOT is associated with weak or offshore regulation, typically St. Vincent and the Grenadines (SVGFSA). Unlike a license from the FCA or ASIC, an SVG registration does not grant the company status as a regulated financial service provider.
Key concerns with this setup include:
- No Supervision: The SVGFSA does not supervise the trading activities or conduct of forex brokers.
- Segregation Risks: There is no legal mandate ensuring client funds are kept separate from operational funds.
- No Compensation: Clients are not covered by any compensation scheme in case of bankruptcy.
While INGOT Brokers has other regulated entities, signing up under this specific offshore branch removes most safety nets.
Trading Products
INGOT offers a very diverse product portfolio, which is one of its main attractions despite the regulatory risks. Instruments include:
- Forex: Extensive list of currency pairs with high leverage.
- ETFs & Stocks: Access to global equity markets.
- Agriculture: Soft commodities like coffee, cocoa, and sugar.
- Cryptocurrencies: Digital assets traded 24/7.
The availability of agricultural futures is a niche offering that separates them from many standard CFD brokers.
Trading Platforms
The broker provides the full MetaQuotes suite, ensuring familiarity for most traders:
- MetaTrader 4 (MT4): Preferred for its simplicity and vast library of EAs.
- MetaTrader 5 (MT5): Needed for accessing the stock and ETF products.
These platforms are available on desktop, web, and mobile. The broker also offers copy trading features (INGOT Copy) allowing beginners to mimic the trades of experienced investors.
Deposit and Withdrawal
INGOT supports a wide array of payment methods to facilitate easy deposits from various regions:
- Bank Wire & Cards: Standard traditional methods.
- Mobile Money: Popular in African regions (e.g., M-Pesa).
- Cryptocurrency: Deposits via Bitcoin and Tether are accepted.
While deposits are instant, users report that withdrawals often require redundant document checks, causing delays of several days.
Customer Support
Customer service channels are standard but feedback on efficiency is mixed:
- Email: customerservice@ingotbrokers.com
- Phone: Regional numbers available (e.g., Kenya, Jordan).
- Live Chat: Available on the website.
Support is ostensibly 24/5, but complex technical queries regarding the offshore entity’s policies often result in generic responses.
FAQ
Q: Is INGOT regulated?
A: The brand has regulated entities, but this specific low-score profile refers to the offshore/unregulated branch.
Q: What leverage is available?
A: The offshore entity offers leverage up to 1:1000, significantly higher than regulated norms.
Q: Why is the score so low?
A: The score reflects the lack of strong regulation for this specific entity and mixed user feedback regarding execution.