Traders Union has analyzed financial markets for over 14 years, evaluating brokers based on 250+ transparent criteria, including security, regulation, and trading conditions. Our expert team of over 50 professionals regularly updates a Watch List of 500+ brokers to provide users with data-driven insights. While our research is based on objective data, we recommend that users perform independent due diligence and consult official regulatory sources before making any financial decisions.
Learn more about our methodology and editorial policies.
IGM FX Pros & Cons
- Various trading platforms;
- 11 trading markets;
- Fast execution of trades;
- Over 160 CFDs on popular assets;
- 4 trading account types;
- Availability of margin trading.
- No PAMM or MAM accounts for passive investing;
- Only clients from the European Economic Area are served;
- No Islamic accounts.
IGM FX is a brokerage company that has been providing services since 2016. The broker offers instruments for trading over 15 classes of assets, including cryptocurrencies and contracts for differences (CFDs). The official representative offices of the broker are located in Cyprus. The company's activities are regulated by CySEC (Cyprus Securities and Exchange Commission) under license number 309/16.
TU Expert Verdict
IGM FX demonstrates moderate stability and can suit certain traders. Its conditions are acceptable, and feedback is mixed but reasonable. In my own tests, it performed adequately, though it lacks the consistency of higher-rated companies.
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IGM FX User Reviews
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5-star
0%
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4-star
33%
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3-star
33%
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2-star
33%
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1-star
0%
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Commissions and Fees
Score:We evaluate brokers' fees and spreads by assessing the costs associated with Standard and ECN/Raw spread accounts, including commissions and spreads. Additionally, our evaluation considers extra fees such as deposit/withdrawal charges and inactivity fees. Learn the assessment criteria4 /10The trading and non-trading commissions of IGM FX have been analyzed and rated as having High fees, with a fees score of 4/10. Additionally, these commissions were compared with those of the top two competitors, OANDA and FOREX.com, to provide the most comprehensive information.
- No deposit fee
- No withdrawal fee
- Above-average Forex trading fees
- No ECN/Raw Spread account
Trading Fees and Spread
Below, we evaluated and compared the trading commissions of IGM FX with those of two competitors. We focused on the spreads and other transaction fees directly associated with executing trades (e.g commission per lot on an ECN account). This comparison aimed to provide a clear understanding of the cost efficiency of each broker.
Standard Account Spread
For Standard accounts, IGM FX’s commissions are part of the floating spread, which varies with market conditions. Typical values are provided, but during high volatility, the spread may exceed these.
IGM FX Standard spreads IGM FX OANDA FOREX.com EUR/USD min, pips 0.3 0.1 0.7 EUR/USD max, pips 1.7 0.5 1.2 GPB/USD min, pips 0.5 0.1 0.9 GPB/USD max, pips 0.8 0.5 1.4 Does IGM FX support RAW/ECN accounts?
As we discovered, IGM FX does not offer RAW/ECN accounts, which might be a drawback for transparency and liquidity. However, this doesn't make the broker uncompetitive. Consider factors like spread levels, execution speed, regulation, support quality, and trading tools when choosing a reliable broker.
Non-Trading Fees
We conducted a detailed analysis of the non-trading fees associated with IGM FX. This review offers a comprehensive overview of the additional costs that may impact traders beyond regular trading activities.
IGM FX Non-Trading Fees IGM FX OANDA FOREX.com Deposit fee, % The indicated amount does not include possible fees from payment systems and banks. 0 0 0 Withdrawal fee, % The indicated amount does not include possible fees from payment systems and banks. 0 0 0 Withdrawal fee, USD The indicated amount does not include possible fees from payment systems and banks. 0 0-15 0 Inactivity fee ($, per month) 20 0 15 -
Is IGM FX Safe?
Score:We evaluate brokers' safety based on several key criteria. The highest value is placed on regulation, especially Tier 1 regulation, which ensures adherence to stringent standards set by top financial authorities like the FCA in the UK, CFTC in the US, CySEc and BaFin (EU) or ASIC (Australia). High scores are also given for participation in investor protection funds, which safeguard clients' funds in case of broker insolvency. Learn the assessment criteria9 /10IGM FX has a safety score of 9/10, which corresponds to a High security level. The safest brokers are those with Tier-1 regulation, a long history (over 10 years in the market), and participation in investor compensation schemes.
- Tier-1 regulated
- Negative balance protection
- Track record over 10 years
- Strict requirements and extensive documentation to open an account
IGM FX Regulators and Investor Protection Abbreviation Full Name Country of regulation Investor Protection Fund Regulation Level 
CySec Full Name Cyprus Securities and Exchange Commission Country of regulation Cyprus Investor Protection Fund Up to €20,000 Regulation Level Tier-1 IGM FX Security Factors Foundation date 2016 Negative balance protection YesVerification (KYC) Yes -
Account Types
Score:We evaluate a broker’s account offering by analyzing the range and suitability of available account types and how effectively they cater to different trader profiles and strategies. Our assessment covers the diversity of account options — including Standard, ECN/Raw, Cent, Swap-Free (Islamic), and VIP accounts — as well as the flexibility of trading conditions provided. Learn the assessment criteria.4.2 /10IGM FX offers the following account options: Standard, VIP.
However, it does not provide a Cent account, which can be a disadvantage for beginners looking to practice with minimal risk.
- Low minimum deposit
- Exclusive VIP account with enhanced trading conditions
- Standard account with balanced trading conditions
- No Demo account
- No ECN/Raw spread account
IGM FX account types vs top competitors IGM FX Trading.com Plus500 Standard YesYesYesECN/Raw spread NoNoNoDemo NoYesYesCent NoNoNoMicro NoNoNoSwap Free NoNoNoVIP YesNoNoManaged NoNoNoIGM FX accounts trading conditions
The brokerage company provides 4 types of accounts. For Trading accounts, leverage is 1:30, Pro clients trade with leverage of 1:400; and stop outs are 100/20%. Additionally, Pro clients get access to VIP education and training.
Trading account types:
Account Type Description Classic Leverage is 1:30. Leverage for Pro accounts is 1:400; Silver Leverage is 1.30. Leverage for Pro accounts is 1:400; Gold Leverage is 1:30. Leverage for Pro accounts is 1:400; VIP Leverage is 1:30. Leverage for Pro accounts is 1:400. IGM FX provides favorable trading conditions for both novice and professional traders.
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Deposit and Withdrawal
Score:This section assesses the efficiency, speed, and affordability of brokers’ transaction processes, focusing on available methods, currencies, and fees. For further details, please refer to our data-focused methodology7 /10IGM FX received a Medium score for the efficiency and convenience of its deposit and withdrawal processes.
IGM FX provides a reasonable range of deposit and withdrawal options with moderate fees, in line with industry standards.
- Bitcoin (BTC) accepted
- Bank wire transfers available
- Low minimum withdrawal requirement
- No deposit fee
- Limited deposit and withdrawal flexibility, leading to higher costs
- Only major base currencies available
- PayPal not supported
What are IGM FX deposit and withdrawal options?
IGM FX provides a basic range of deposit and withdrawal options, covering essential methods in line with industry standards. This set of options is sufficient for most traders, with available methods Bank Card, Bank Wire, Skrill, Neteller, BTC, USDT, Ethereum.
IGM FX Deposit and Withdrawal Methods vs Competitors IGM FX Trading.com Plus500 Bank Wire YesYesYesBank card YesYesYesPayPal NoNoYesWise NoNoNoBTC YesNoNoWhat are IGM FX base account currencies?
A wide range of base account currencies minimizes the need for currency conversion, potentially reducing transaction costs. IGM FX supports the following base account currencies: USD, EUR, GBP.
What are IGM FX's minimum deposit and withdrawal amounts?
The minimum deposit on IGM FX is $250, while the minimum withdrawal amount is $10. These minimums may vary depending on the chosen account type and payment method. For specific details, please contact IGM FX’s support team.
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Markets and Tradable Assets
Score:The evaluation in this section is based on the TU methodology and reflects the total number and variety of tradable assets offered by the broker, including Forex currency pairs. It also considers the availability of passive income tools such as PAMM accounts, copy trading, and similar services. All information is obtained from publicly available sources and may change. Learn the assessment criteria5.5 /10IGM FX offers a limited selection of trading assets compared to the market average. The platform supports 160 assets in total, including 50 Forex pairs.
- Commodity futures are available
- Indices trading
- 50 supported currency pairs
- Crypto trading not available
- No ETFs
Supported markets vs top competitors
We have compared the range of assets and markets supported by IGM FX with its competitors, making it easier for you to find the perfect fit.
IGM FX Trading.com Plus500 Currency pairs 50 69 60 Total tradable assets The total tradable assets listed include all available instruments, including CFDs. Due to regional restrictions, certain CFDs may not be offered in some countries. For example, cryptocurrency CFDs are banned in the UK, and the U.S. has restrictions on CFDs. 160 69 2800 Stocks YesNoYesCommodity futures YesNoYesCrypto Cryptocurrency CFDs are restricted or prohibited in certain regions due to regulatory limitations. These include the United Kingdom, China, Egypt, the United States and Canada. NoNoYesStock indices YesNoYesOptions NoNoYesInvestment options
We also explored the trading assets and products IGM FX offers for beginner traders and investors who prefer not to engage in active trading.
IGM FX Trading.com Plus500 Bonds NoNoNoETFs NoNoYesCopy trading YesNoNoPAMM investing NoNoNoManaged accounts NoNoNo -
Trading Account Opening
Score:We evaluated Trading Account Opening at IGM FX by testing the registration process under real conditions, including opening an account and funding it with the minimum required deposit (but no less than $100). Our assessment considered whether onboarding was fully online, the average registration time, the speed of KYC verification, and how quickly traders could activate their accounts. Learn the assessment criteria.6 /10We successfully registered an account with IGM FX in 20 minutes. The KYC verification was completed within 2 business days. The minimum deposit amount at IGM FX is $250. The onboarding procedure works as expected, although there is room for improvement in speed and simplicity.
- Fully online account opening process
- Low minimum deposit requirement
- Account approval may require extra time depending on the documentation.
- Registration process may take longer than expected
IGM FX account opening IGM FX Trading.com Plus500 Online Registration YesYesYesMinimum deposit $250 $50 $100 Mandatory KYC YesYesYesRegistration time (min) 20 20 KYC time (days) 2 2 3 Is IGM FX available in my country?
If you are a citizen of United States, the broker accepts clients from your country.
Please note that availability may vary due to regulatory requirements, so we recommend confirming directly with the broker for the most accurate and up-to-date information.
Account opening details
To start trading, create a user account with IGM FX. Some brief instructions on how to register an account are as follows:
On the official website of IGM FX, click the Open Account button. The system will offer to create an account for an individual or a company.
Once the account type has been selected, the registration form must be completed. Depending on the account, the broker requires not only your contact details but also the origin of funds and your trading experience.
Next, to make a deposit, you need to verify your IGM FX user account. Without verification, the main features of the broker will not be available, so uploading scanned documents is mandatory.
Additional functions of the user account are:
- Dashboard, where information about the trading account is displayed;
- Wallet, which shows the total balance and results of trading sessions;
- List of trading accounts;
- Tickets;
- Trading instruments;
- A section where you can contact IGM FX client support.
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Customer Support
Score:We evaluated Customer Support at IGM FX by opening a real account funded with the minimum required deposit (no less than $100) and contacting support to measure response time under real conditions. Our assessment considered contact channels, response speed, multilingual support, and availability hours. Learn the assessment criteria3.4 /10The broker’s customer support shows noticeable weaknesses in responsiveness or communication quality. Delays in replies are common, and resolution may require repeated contact.
In TU testing, response speed was below expectations, and assistance was limited in depth. Traders who rely heavily on support may experience inconvenience.
InformationTechnical support managers are available 24/5. Clients can apply for assistance from Monday to Friday.
- Technical support can help solve any technical issue related to the use of trading instruments
- Tech support answers quickly
- Support is available 24/5 only
- Communication is possible in English only
Ways to contact IGM FX technical support:
- by phone. The number is posted in the Contact Us section of the website;
- by email;
- through the feedback form.
Only verified clients can communicate with technical support through their user account.
Contacts Foundation date 2016 Registration address 1 Agias Zonis, No. 504, Block B, 5th Floor, Nikolaou Pentadromos Center Building, 3026 Limassol, Cyprus. Official site https://www.igmfx.com/en/ Contacts support@igmfx.com +357 25252371
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FAQs
How safe is trading with IGM FX in terms of regulation and investor protection?
IGM FX has a safety score of 9/10, described as a high security level, and is regulated by the Cyprus Securities and Exchange Commission (CySEC), a Tier-1 regulator in Cyprus. The broker offers negative balance protection, requires KYC verification, and participates in an investor protection fund that can provide coverage up to €20,000, with a track record since 2016.
What account types and leverage options does IGM FX provide for different traders?
According to the section, IGM FX offers Standard and VIP accounts, along with four trading account types labeled Classic, Silver, Gold, and VIP. Retail leverage is 1:30, while Pro clients can use leverage of 1:400, and Pro clients also receive access to VIP education and training; however, there is no demo, ECN/raw spread, cent, micro, swap-free, or managed account mentioned.
What do user reviews and feedback indicate about overall satisfaction with IGM FX?
IGM FX has a user satisfaction score of 6/10 based on three reviews, with ratings distributed as 33% 4-star, 33% 3-star, and 33% 2-star, and no 5-star or 1-star ratings. According to user reviews, this distribution suggests a mixed overall impression rather than clearly positive or negative sentiment.
What do reviews and feedback say about IGM FX deposit and withdrawal methods and conditions?
The section states that IGM FX offers a basic range of deposit and withdrawal options, including bank cards, bank wire, Skrill, Neteller, BTC, USDT, and Ethereum, with no deposit fee and a low minimum withdrawal requirement. It also notes some limitations, such as PayPal not being supported, BTC not available as a base account currency, and generally limited flexibility that may lead to higher costs, while base account currencies are listed as USD, EUR, and GBP, and the minimum deposit and withdrawal amounts are $250 and $10 respectively.
How does the IGM FX account opening process work and what do user comments imply about its speed?
The account opening process at IGM FX is fully online, with registration taking about 20 minutes and KYC verification typically completed within 2 business days, and a minimum deposit of $250 required. The section notes that while the onboarding works as expected, the registration and approval steps may take longer than some users anticipate, especially if additional documentation is needed.
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