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Ignis Review - is it scam or safe?

Ignis review - Is ignis4you.com scam or good forex broker?

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

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Ignis is a forex and CFD broker, offering three account types on the MetaTrader4 platform. If you are thinking about investing with them be sure to read this review first.

 

Account type Min. deposit Max. leverage Spreads
Standard Account n/a 1:100 1,2 pips
Pro Account n/a 1:100 0,8 pips
Social Account n/a 1:100 1,2 pips

 

Ignis Advantages:

 

Competitive spreads

 

With its Standard account Ignis says their spreads start at 1,2 pips, which is in line with what traders would expect. With their Pro Account spreads are even better, starting for 0,8 pips. 

 

The broker does not mention anything about a commission, so the trading conditions look good to us. Still here you may want to check our list of brokers, also offering tight spreads:

 

>> Lowest spread forex brokers<<

 

Reasonable leverage

 

Leverage of up to 1:100 as offered by  Ignis is perfectly enough to accommodate any trading strategy. And yet, while leverage is a good tool to score high profit with a relatively small deposit, it also comes with an implied risk of loosing your fund with the slightest fluctuation of the market in the wrong direction. Professional traders know that well and rarely trade with leverage exceeding 1:100.

 

MetaTrader4 supported

 

Ignis offers its clients a choice of PC, mobile or a web version of the classic MetaTrader4 platform. MT4 is well known among traders because of its intuitive interface, user friendly charting tools and the option to run automated trading sessions with the help of proprietary trading bots – Expert Advisors, which, by the way, one can easily modify on a specially designed scripting language – the MQL4. Here you may want to check our list of brokers, also supporting MetaTrader4:

 

>>MT4 Brokers<<

 

Ignis Disadvantages:

 

No license

 

Ignis is owned and operated by Ignis Group Limited. However, there are no details on the broker's web site about the company – where it is based and where it operates form. There is no contact address or even a phone. The only contact, we were able to find on the web site was an e-mail, which was actually a gmail. See for your self:

 

 

And that does not speak well about the credibility of the broker. They does not mention anything about a license either. Keep in mind that a proper license is crucial for the safety of any investment.

 

Brokers, licensed by well respected financial institutions, such as the Cyprus Securities and Exchange Commission (CySEC), the Financial Conduct Authority (FCA) and the Australian Securities and Investments Commission (ASIC)  are obliged to follow strict fiscal and ethical rules, including to maintain a minimum capital adequacy ratio, to keep all clients money in protected, segregated accounts and in some cases even to insure traders capital.

 

With the FCA backed Financial Services Compensation Scheme for example, if the broker goes insolvent, traders can receive back up to 50 000 GBP of their capital. Similar compensation scheme with the CySEC guarantees traders up to 20 000 EUR of the investment. Here you may check our list of FCA regulated brokers:

 

>>FCA Regulated Forex Brokers<<

 

No demo account available

 

In the presentation on their website Ignis says they are offering currency pairs and CFDs on precious metals and commodities. They also promise soon to be offering stocks and a Bitcoin CFD. 

 

As there is no Demo account available, we were not able to check the trading instruments they offer. However, here you may check our list of brokers, also offering Bitcoin CFDs:

 

>>Bitcoin Forex Brokers<<

 

Unspecified minimum deposit requirement

 

Ignis does not provide us with information about their minimum deposit requirement. Keep in mind that with most brokers you can start trading with 250 USD or less, while with some well established players like FBS and IG you can start trading with just 5 USD.

 

No information about the payment methods

 

With most brokers you can deposit or withdraw funds in various ways – with major credit or debit cards like VISA and MasterCard, e-wallets like SkrillNeteller or PayPal and a bank wire. 

 

Some brokers even accept Bitcoins as payment. Unfortunately Ignis does not say what payment methods they accept, so here you may check our list of brokers, where you can pay with Bitcoins:

 

>>Forex Brokers Accepting Bitcoin<<

 

Conclusion:

 

Ignis is a low credibility unregulated broker, with no contact address or even a phone. And although their spreads and trading conditions seem fine, our main concern remains the lack of regulation – a key factor for the safety of any investment. 

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Traders` reviews for Ignis

Spread

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Slippage

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Requotes

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Price feed

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Platform

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Deposit/Withdraw

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Customer service

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