INGOT Brokers review and ratings

Company information

INGOT Brokers group includes 2 related companies.

INGOT Brokers AU - located in Australia, regulated by the Australian Securities and Investments Commission (ASIC).
INGOT Brokers SEY - located in the Seychelles, regulated by the Seychelles Financial Services Authority (SFSA).

INGOT Brokers is also licensed and registered in Kenya (regulated by the Capital Markets Authority of Kenya) and Jordan (regulated by the Jordan Securities Commission).

Unfortunately, AU company has been imposed with trading leverage limitations by ASIC since the end of March 2021.
At the same time, the other entities of INGOT are free from such restrictions.

Availability

INGOT Brokers group accepts clients from all over the world, excluding USA and some other countries where restrictions apply.

Distinctive features

• Operates both in highly-regulated and lightly-regulated environments.
• Own copy-trading portal for strategy providers and followers.
• Market news and announcements, advanced trading tools.
• BTC and USDT funding accepted.

Trading instruments

Forex broker offers the following underlying assets for trading.

Comprehensive review

INGOT Brokers is a forex & CFD broker with international branches registered in Australia, the Seychelles, Kenya, and Jordan. Having been set up all the way back in 2006, INGOT is already considered an old player in this market, although it continues to remain popular with many traders.

In Australia, INGOT Brokers is regulated by the very reputable financial regulatory agency known as ASIC (Australian Securities and Investments Commission) under registration number 428015. Looking up this broker in ASIC's database confirms that the company is indeed a regulated entity as promised. In the Seychelles, INGOT Brokers remains regulated by the Seychelles Financial Services Authority, as is common practice in that offshore jurisdiction. Similarly, the Kenyan and Jordanian entities are also regulated by the local financial watchdogs in those countries.

For Australian residents, the clear benefit with the broker being regulated by ASIC is that it ensures there is always a credible government agency to turn to in the event of any kind of dispute with this broker. This stands in contrast to the situation for INGOT's non-Australian clients, who unfortunately will have very limited options available if something goes wrong in their dealings with the broker.

For many traders, however, the extra benefit of having access to the much higher trading leverage that is available offshore outweighs the risk of trading with an unregulated forex broker. At the time of this writing, the maximum leverage offered by INGOT Brokers' offshore-based entity is a whopping 1:5,000 (on the MT5 platform, max 1:500 on MT4), more than almost any other broker we have reviewed. In Australia, meanwhile, the leverage only goes up to 1:30, in accordance with local regulations.

It's important to note that most non-Australian clients will be assigned to the offshore entity of the broker registered in the Seychelles. This is also clearly stated on the website of the Australia-based broker, which says that it “does not accept applications from Non-Australian residents where it is contrary to local law or regulation.”

In terms of assets that are available for trading, INGOT Brokers has quite a strong offering for its clients. The list of assets includes an unusually large selection of CFDs based on numerous exchange traded funds (ETFs) & the stocks of more than 300 companies from around the world, a selection of more than 30 FX pairs, as well as CFDs that track the price of a large range of commodities and equity indices.

In addition, INGOT Brokers is also among the CFD brokers that have embraced the crypto revolution, offering a handful of popular digital assets for trading. Keep in mind, however, that these assets are CFDs that are traded only on weekdays. That's unlike the real underlying crypto market, which of course trades 24/7.

Another important thing to keep in mind regarding crypto CFDs is that these instruments cannot be transferred to any other users. Unlike real cryptocurrencies, crypto CFDs thus do not have any use cases other than price speculation.

Spreads between buy and sell prices of the instruments that are available from INGOT Brokers are generally competitive. This is particularly true for the broker's EVO Account, which charges spreads from just 0.7 pips with no commissions. The other account option available from INGOT is called Standard, with spreads from 1.2 pips and no commissions. The accounts can be opened with minimum deposits of $10 and $100, respectively.

All assets offered by INGOT Brokers are traded on either the MetaTrader 4 or 5, usually referred to as just MT4 or MT5. These trading platforms are among the most popular in the retail forex trading industry, despite being released all the way back in 2005 and 2010, respectively. At the time of this review, the broker also has a mobile trading app under development that is said to be “coming soon.”

As with many brokers, trading accounts can be funded with either bank wire transfer, major payment cards like Visa and MasterCard, a number of regional electronic money transfer services from around the world, and selected cryptocurrencies.

All in all, we can conclude that INGOT Brokers is certainly a company to pay attention to for traders who are happy to trade on the MT4 or MT5, and who have an interest in trading CFDs on stocks and ETFs in particular. It's also one of the brokers that provide leveraged exposure to crypto CFDs, which we know is something many traders are looking for.