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Ingot Brokers Review - Is it scam or safe?

Ingot Brokers Review - Is www.ingotbrokers.com.au a good forex broker or a scam?

RATING: 3 / 0 REVIEWS Ingot Brokers
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Trading Accounts

 

Account type Minimum deposit Minimum trade size  Maximum leverage Spread
Standard  $100 0.01  1:400 2 pips
ECN  $5000 0.01 1:200 Spread + $7 / lot
Elite  $1000 0.01 1:200 N/A
Premium $5000 0.01 1:200 N/A
Hedge  $15000 0.01 1:200 Spread + $7 / lot

 

Ingot Brokers offers its clients a choice of 5 account types with maximum leverage up to 1:400, as well as access to both MetaTrader 4 and MetaTrader5 platforms.

 

Micro lots are not available for trade with this broker. Also, we must disappoint all scalpers: INGOT Brokers do not allow scalping.

 

The Company. Security of Funds

 

INGOT Brokers is a company offering online financial trading services in major world CFDs, currencies, stock indices as well as precious metals, futures, and other commodities like natural gas and crude oil. Furthermore, clients of INGOT Brokers are also able to trade MENA stock markets, which includes indices of Dubai Financial market, Saudi Stock Market, and the Egyptian Exchange.

 

The company behind the brand, Ingot Brokers (Australia) Pty Ltd., is regulated from the Australian securities and investments commission (ASIC). It has offices in Australia, New Zealand and Switzerland.

 

ASIC requires licensed companies to meet certain requirements and to comply with various rules. For example, clients’ money is to be kept in segregated trust accounts and, in order to operate legitimately, Aussie forex brokers must hold at least $ 1 million.

 

Unlike other European brokers (Cyprus and UK-based ones), however, Australian ones are not covered by any compensation scheme. Despite the ASIC regulation and supervision of Australian brokers, traders should be aware of the risks of trading margin CFDs.

 

Trading Conditions

 

Minimum Initial Deposit

Traders are required to deposit $100 in order to open an account with Ingot Brokers, which is average. Yet, other brokers like XM (holding, among others, also an ASIC license) demands just $5 from its clients as a start.

 

Average Spreads & Commissions

Ingot Brokers offers fixed spreads on Standard accounts, amounting to 2 pips on EUR/USD, which is average for the forex market. Like most fixed-spread brokers, this one also does not charge a commission.

 

In comparison, XM offers variable spreads averaged from 1.7 pips on EUR/USD on its commission-free accounts. For further information, you may look up real time spreads of 15 leading brokers here.

 

Maximum Leverage

Clients of Ingot Brokers use leverage ratios up to 1:400, which would suffice the needs of most traders.Keep in mind that higher leverage involves greater risk and you may lose more than you have deposited.

 

Trading Platforms

 

This broker supports some of the most popular forex trading platforms, MetaTrader 4 (MT4), and MetaTrader5, both  available as a desktop version and mobile applications.

 

The MT4 is globally recognized for its advanced charting package, analytical tools, a wide range of Expert Advisers (EAs) and extensive back-testing environment. By using EAs traders may sit back, while the software does all the work, as Expert Advisers allow full automatization of trades. The MT5 has kept most of its predecessor's features, and on top of that allows trading in derivatives and exchange-traded funds from one and the same account.

 

Ingot Brokers has also partnered with social trading pioneer ZuluTrade to offer its clients advanced automated trading options.

 

Methods of Payment

 

Ingot Brokers offers its clients several deposit/withdrawal methods: bank wire, Neteller, ​​​​​​​WebMoney, FasaPay, PerfectMoney, Payeer, OKPAY and Skrill. Besides, the broker is covering the deposit fees of the e-payment gateways Neteller, Skrill, Payeer, OKPAY.

 

Conclusion

 

Trading conditions offered by INGOT Brokersis an Australian brokerage that is reliable and ofefring competitive trading conditions, as well as a good choice of trading platforms and account types. To sum things up, here are the advantages and drawbacks with regards to INGOT Brokers:

 

Pros Cons
Regulated by ASIC Scalping is not allowed
MT4 & MT5 available  
High leverage levels  
   

                                                                 

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Traders` reviews for Ingot Brokers

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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