IFGM Review 2024

IFGM is not a broker but a primitive platform designed to lure money from inexperienced traders. I immediately realized that it was a scheme that created a flashy website to attract people who don't know how to choose brokers. Checking the managing brand IFGM company will easily show that it has no license. However, newcomers to trading don't know how and where to check a broker and fall for attractive promises. Out of curiosity, I tried the demo mode, and as expected, it had cool spreads and good execution. But IFGM doesn't offer cent accounts, so testing its performance in the real market is only possible after opening a Standard account, which requires significant investments and risks.

The first deception by IFGM revealed itself a couple of minutes after I made a deposit and installed the trading platform. I needed an account not only for currency trades but also for CFDs on indices. IFGM promised access to 9 indices on its website, but only two were active on the platform such as NASDAQ and Dow Jones. I don't trade U.S. indices and prefer contracts quoted on the EU exchanges. The currencies choice at IFGM is also not very good as only 28 of them are available. But it suited me since I mainly invest in majors. However, the spreads on major pairs were very high, although, in the demo, they started from 0.8 pips. In general, IFGM was not suitable for me. I just wasted time and money.

Brokers can be quite different from one another, and I experienced this firsthand with IFGM. Dishonest actions on their part started almost immediately after receiving payment from me. Trades were closing randomly, stops weren't triggering, and slippages were happening constantly. I regularly contacted support and attached screenshots of orders that incurred losses due to the broker's actions, but there was no response. They dismissed it with Standard phrases about slow internet, blaming me, of course, and incorrect stop-loss settings. They did everything they could to avoid admitting fraud on their part. I held out for a month, then I got fed up and made a withdrawal request. It's been six months now, but I still haven't received my money.

I would like to find at least one significant advantage with IFGM, but I can't. The broker trades against its clients and profits from their losses. On the Standard account, they promised the absence of any trading commission, but money was periodically deducted from my account for reasons I couldn't understand. If there's a maintenance fee, it should be honestly communicated. Next, the spreads. They are simply horrible. Very high, even on major currency pairs. Price slippages are constant, and trading platform freezes are a common occurrence. WebTrader IFGM is impossible to use for proper analysis, there are few indicators and chart types. I no longer use IFGM, and I won’t recommend it to you.

I invested in one of the available PAMM accounts with IFGM. The performance of the manager seemed good to me, so I immediately invested $1,000. I had no prior experience with managed accounts, so I didn't quite understand how it works in practice. It turned out that you don't see the trades of the PAMM manager. Perhaps this is only with IFGM, but I received daily trading statistics, but couldn't see the actual positions. 95% of the trades made by the manager I chose were losing, so I decided to withdraw the remaining funds. However, they were not returned to me, completely ignoring my request. Access to my account on the website was closed, and client support ignored my inquiries.

IFGM claims to work with a license. I didn't pay much attention to them mentioning someone else's license number on their website. The requirements for the initial deposit are quite reasonable, so I decided to open an account for trading currencies and indices. Cent accounts are not available, so I traded a bit on the demo and then switched to a Standard account. It turned out that the spreads in reality were much higher than in the demo. I didn't expect such large values at all. The support promised that spreads would decrease when the market became more static, but it didn't happen. My $200 from the deposit disappeared literally within a week, so there was nothing to withdraw. Obviously, I stopped working with IFGM.

Profitable partnerships, the best trading conditions, and potentially profitable trust management accounts are what IFGM promises. In reality, it's a gathering of unscrupulous individuals who want your money. I traded on the IFGM Standard account for a few months. I won't say I was always at a loss as there were successful trades. Once I accumulated the first $100 in profit, I decided to withdraw it. The request was approved, and the money appeared in the bank account within three days. Joyfully, I deposited $500 to continue. The next month wasn't particularly successful, but there was still profit, so I submitted a withdrawal request again. However, for some unknown reason, it was canceled. Then I applied many more times but with no results.