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Igf Investment Review - is it scam or safe?

Igf Investment review - Is igfinvestment.com scam or good forex broker?

RATING: 1 / 1 REVIEWS ForexBrokerz Igf Investment
Igf Investment is an offshore broker. Your money is not safe.

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Igf Investment is presented as a top online forex broker with many years of market experience, which offers more than 50 currency pairs and lots of other trading instruments, including shares, indices, commodities and crypto currencies with a choice of three account types and the MetaTrader4 platform. And the broker also says to be offering algorithmic trading accounts and generous trading bonuses.

 

Account type Min. deposit Max. leverage Spreads/ Payout
Mini Account $500

n/a

n/a
Classic Account $5 000 n/a n/a
Premium Account $20 000 n/a n/a

 

If you feel tempted by their offer however, you should know that this is a unregulated, offshore broker, which has been blacklisted by the regulatory authorities in Italy and Spain for targeting EU citizens without proper authorization and possibly running a scam. So before depositing any funds with Igf Investment be sure to read the following review first.

 

Igf Investment Advantages:

 

MetaTrader4 available

 

The presence of MetaTrader4 has always been welcome, as this is by far the most popular trading platform on the market. Here with Igf Investment  however MT4 is provided by a third party - Trading Technologies Ltd., and that, we should note, is not a common practice.

 

In any case, MetaTrader4 comes with a fine set of advanced charting tools, numerous market indicators and even customizable trading robots with the help of which one can easily run automated trading sessions. Here you can also check our list of brokers, supporting the MT4 as well:

 

>>MT4 Brokers<<

 

Igf Investment Disadvantages: 

 

Blacklisted by CONSOB and  CNMV, no license

 

Igf Investment is an offshore, unregulated broker, owned by Igfinvestment Limited, which is based on the Marshall Islands. And as we already noted Igf Investment appears in the latest warnings lists of both the Spanish financial regulator - Comisión Nacional del Mercado de Valores (CNMV) and  CONSOB in Italy. You can see the warnings here:

 

 

Besides, CNMV also links Igf Investment to Granit Oak Worldwide Limited and another website - himilceinvest.com, so you should be aware of those too.

 

Bear in mind that trading with unregulated brokers in general has always been associated with an extremely high risk of getting scammed. The reason is quite simple – unregulated brokers are totally unaccountable for the way they handle your money.

 

On the other hand your funds could be safe only with properly regulated brokers, like the ones licensed and authorized by well known financial watchdogs, like the the Financial Conduct Authority (FCA) in the UK, the Cyprus Securities and Exchange Commission (CySEC) or the Australian Securities and Investments Commission (ASIC) – the three most popular regulators in the industry.

 

And because with a FCA regulated broker your funds will even be protected by a client compensation fund, covering up to 85 000 GBP of your capital, here you may also check our list of brokers regulated in the UK:

 

>>FCA Regulated Forex Brokers<< 

 

Market maker offering to manage your account 

 

As virtually all other brokers, legit ones including, Igf Investment  acts as a market maker, which means they profit, whenever their clients lose money. So obviously if a market maker offers to help manage your trading account, in this case with the so called Algo Tradig program, it will have an incentive to lose your money in its own pockets. This is called a conflict of interest.

 

Trading bonuses

 

A trading bonus might look like a benefit, but it is not. Trading bonuses are invariably linked to some additional withdraw conditions – a minimum trade volume requirement, which scam brokers usually use as an excuse to cancel your withdraw requests. And such brokers always reserve the right to change their bonus policy on a whim, which basically explains why you will never be able to reach the above mentioned minimum trade volume. Bear in mind as well that trading bonuses are altogether banned on regulated markets like the European Union.

 

Unusual charges and withdraw procedure

 

Bear in mind as well that Igf Investment says they are charging withdraw fees, without however specifying what. And also they have a 36 USD monthly tax, that will be charged if you have not traded for just 30 days. Legit brokers might impose such dormant fee only afters 12 months of inactivity.

 

On top of that  Igf Investment says it will take them 5 days to process your withdraw request, while with legit brokers that period is never longer than 24 hours.

 

High minimum deposit requirement

 

With most brokers you should be able to open a trading account with about 250 USD, while with some well known players like FBS and IG you will be allowed to start trading with just 5 USD or so. Igf Investment on the other hand asks for at least 500 USD.

 

No demo account directly available

 

As we were not able to directly open a demo account, here we can not comment on the trading conditions the website offers. Just bear in mind that spreads are generally considered attractive, only if they start below 1,5 pips with a standard account. Here you may check our list of brokers, offering tighter spreads:

 

>> Lowest spread forex brokers<<

 

Skrill not accepted as payment method

 

Igf Investment  accepts payments with credit cards like VISA and MasterCard and bank wire, but not Skrill. The reason we mention this is Skrill's new anti scam policy. According it the money transfer company partners only with regulated brokers, and as we already discussed Igf Investment does not have a license whatsoever. Here you may check our list of brokers offering Skrill:

 

>>Brokers accepting Skrill<<

 

Conclusion:

 

Igf Investment is blacklisted by the regulatory authorities in Spain and Italy as a probable scam broker. The main issue here is that Igf Investment is not licensed and authorized, as it should be, if they really wanted to legally do business on regulated markets like the European Union for example. So once again our best advise here is to trade only with properly regulated brokers, like the once, licensed and authorized by the FCA in the UK, CySEC in Cyprus or ASIC in Australia.

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Traders` reviews for Igf Investment

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