INGOT Brokers Review 2024
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
- $100
- MT4
- MT5
- 2006
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
- $100
- MT4
- MT5
- 2006
Our Evaluation of INGOT Brokers
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
INGOT Brokers is a high-risk broker with the TU Overall Score of 2.48 out of 10. Having reviewed trading opportunities offered by the company and reviews posted by INGOT Brokers clients on our website, Traders Union expert Anton Kharitonov does not recommend working with this broker, as, according to reviews, most clients are not satisfied with the broker. INGOT Brokers ranks 366 among 417 companies featured in the TU Ranking, which is based on the evaluation of 100+ criteria and a test on how to open an account.
INGOT Brokers has reached a top position during 15 years of work on the world market. Traders and experts agree that the company offers favorable trading conditions, namely several accounts to choose from, many instruments, and high leverage. Traders work through popular platforms. The broker does not set limits on trading styles and strategies. It offers many useful options and regularly publishes economic news and reviews. INGOT Brokers has an excellent training system, a typical copy trading platform, and a simple partnership program, which can become a source of additional income for socially active traders.
Brief Look at INGOT Brokers
INGOT Brokers Global Ltd is regulated by the Seychelles Financial Services Authority (FSA) and offers three live account types. Demo accounts are also available. More than 1,000 financial instruments, such as CFDs on currencies, cryptocurrencies, stocks, indices, metals, energies, agricultural commodities, and ETFs are available for trading. The minimum deposit is $100 and the maximum leverage is 1:500. Spreads start from 0 pips. Negative balance protection is provided. Order execution is instant. Traders work through MetaTrader 4 (MT4) and MetaTrader 5 (MT5). There aren’t any restrictions on trading styles and strategies. The broker has its own copy trading service and the innovative MAM Pro system for account managers. A typical partnership program allows traders to earn extra money on invited users.
- A huge choice of financial instruments allows traders to create a balanced diversified portfolio;
- Traders are not limited in solutions, they can use advisors and bots, hedge, and trade news;
- The minimum initial deposit of $100 is below the market average for basic accounts, and the leverage of 1:500 greatly increases the profit potential;
- Spreads start from 0 pips and fees are $0-$7 depending on the account type;
- The company offers many useful options, including an economic calendar, currency converter, and trading calculator;
- INGOT Brokers has a strong training program, and its articles and videos are available even to unregistered users;
- Technical support is reached 24/5 via a call center, email, and live chat on the website.
- The broker’s activity is transparent.
- Trading is available only through MT4 and MT5, this restriction creates an inconvenience for some traders;
- The MAM Pro system for fund managers is available only on MetaTrader 4;
- Client support is not active during the weekends.
TU Expert Advice
Financial expert and analyst at Traders Union
INGOT Brokers Global Ltd entered the global market in 2008. It is headquartered in Seychelles, where it is registered and regulated by the FSA. A retrospective analysis and evaluation of user experience showed that the broker operates transparently, there is no evidence of violations of obligations to its traders or open conflicts. However, note that INGOT Brokers does not provide services worldwide. For example, U.S. residents cannot use its services.
The broker offers trading conditions that users rate as favorable. It has low fees, a large selection of assets, and high leverage. In addition to a demo account, there are three live accounts from which to choose. Spreads are quite tight and the fee depends on the account selected; but generally, fees correspond to the market average.
The broker works with MT4 and MT5, although its own MAM (multi-account management) Pro system, with a set of optional features, is designed only for MT4. For example, managers can distribute funds according to one of six criteria. For example, there is a function to exclude a subaccount without closing a position, and a high-water mark allows investors to grant bonuses to managers for achieving excellent results.
INGOT Brokers has its own platform for copy trading, it is integrated with the official website and offers fairly typical conditions. The referral program is also standard, but the level of payments is higher than the market average. Among the distinguishing features of INGOT Brokers, TU notes an extensive training program, which is available even to unregistered users, and many applied options such as an economic calendar, currency converter, and trading calculator. Based on the sum of factors matrix, the broker can be recommended for review.
INGOT Brokers Summary
| 💻 Trading platform: | MT4 and MT5 |
|---|---|
| 📊 Accounts: | Professional, ECN, Prime, and demo |
| 💰 Account currency: | USD, EUR, and AUD |
| 💵 Replenishment / Withdrawal: | Bank cards, e-wallets, and crypto wallets |
| 🚀 Minimum deposit: |
$100 for Pro and ECN accounts; $10,000 for Prime accounts |
| ⚖️ Leverage: | Up to 1:500 subject to the account and the asset |
| 💼 PAMM-accounts: | Yes |
| 📈️ Min Order: | 0.01 |
| 💱 Spread: | From 0 pips |
| 🔧 Instruments: | CFDs on currencies, cryptocurrencies, stocks, indices, metals, energies, agricultural commodities, and ETFs |
| 💹 Margin Call / Stop Out: | No |
| 🏛 Liquidity provider: | No |
| 📱 Mobile trading: | Yes |
| ➕ Affiliate program: | Yes |
| 📋 Orders execution: | No |
| ⭐ Trading features: |
Three live accounts plus a demo account; Competitive minimum deposit; Over 1,000 assets; Significant leverage; Integrated copy trading service; Mam accounts; Qualitative education; Many useful options |
| 🎁 Contests and bonuses: | Bonuses from the referral program |
Almost all brokers have a minimum deposit depending on the account type. INGOT Brokers offers three live accounts. The minimum deposit for Professional and ECN accounts is $100, for Prime accounts it is $10,000. Accounts differ in trading parameters, including leverage. The maximum leverage of 1:500 is available on Pro and ECN accounts, while you can trade with a maximum leverage of 1:200 on Prime accounts. You also need to remember that the maximum leverage varies depending on the asset traded. Technical support is represented by a call center, live chat, email, and tickets on the website. It works 24/5.
INGOT Brokers Key Parameters Evaluation
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Trading Account Opening
To start trading with the broker, register a user account on the INGOT Brokers website, get verified, select an account, and make a minimum deposit. Below is TU’s detailed guide on how to open an account with INGOT Brokers.
Go to the broker's official website. In the upper right corner select the interface language. If you already have your user account, click the "Login" button and enter your registration details. If you don't have a user account and want to register, click the "Start Trading" button.
Enter your first and last names, and email. Indicate your country of residence, its code, and your citizenship. Then enter your contact phone number and create a password. Select the preferred account currency from the list. Agree to the terms of service by ticking the box, and click the "Register" button.
Now you have your user account, but its functionality is limited, that is you cannot open a trading account. Go to the profile settings by clicking the corresponding button in the upper right corner of the screen. Complete the ‘Profile Information” and “Financial Information” tabs.
Click the "Get Started" button in the left menu and follow the on-screen instructions to verify your user account. You need to provide scans/photos of your identification documents. Upon verification, you will have full access to your user account and be able to open a trading account.
Functions of INGOT Brokers user account:
Dashboard. It displays a summary of the user's profile and accounts;
The "Start" tab. It allows a trader to open an account. Clients can have several accounts at once;
Verification. Here the personal information, which can be edited, is stored;
Accounts. It provides access to the list of active accounts with detailed information;
Refer and earn. Here the information on the referral program is presented;
Copy trading. It is dedicated to the eponymous service offered by INGOT Brokers;
Market Analysis. Here traders can find up-to-date information from the broker's analysts;
Support. It includes a list of active and resolved cases with details;
Platform tutorial. This tab contains video tutorials on working with the broker's website.
Regulation and safety
The only guarantee for traders is regulation of the broker. All companies of this type are officially registered and licensed by a financial regulator, but this is not enough. However, if the platform is controlled by an international regulator, it thereby confirms the transparency of its work and the fulfillment of obligations to its clients. INGOT Brokers is licensed by the Seychelles Financial Services Authority under number SD117.
Advantages
- Possibility to contact managers and lawyers of the broker
- The regulator is always ready to consider traders’ complaints
Disadvantages
- No regional mechanisms to protect traders’ interests
Commissions and fees
| Account type | Spread (minimum value) | Withdrawal commission |
|---|---|---|
| Professional | From $10 | Yes |
| ECN | From $0 | Yes |
| Prime | From $0 | Yes |
Note that the broker in some cases charges a fee for withdrawing funds. The amount of this fee depends on the asset and the selected withdrawal channel. For example, if you want to withdraw funds to a crypto wallet in Bitcoin (₿), Ethereum (Ξ), or USDT (₮), the fee will be 1% of the amount. If the profit is withdrawn to a bank card in one of the available currencies via wire transfer or Cellulant, no fee is charged. The table below shows the average trading fees of INGOT Brokers and its closest competitors.
| Broker | Average commission | Level |
|---|---|---|
|
$3.3 | |
|
$1 | |
|
$8.5 |
Account types
The first thing to decide on is the account type. All traders work according to their own system, which determines the differences in requirements for trading conditions. While the broker cannot offer a customized account type for all of its clients, it tries to develop multiple options for players of all skill levels. The Professional account, despite its name, is aimed at novice traders. It has high leverage, low initial deposit, and no fee. The ECN account complies with the standard of the same name, has all its features, and is designed for traders of a higher level; whereas, the Prime account is designed for the most experienced players, as it has a higher minimum deposit, lower leverage, but more flexible settings and options.
Account types:
Regardless of the account type, all the presented assets are available to traders. Trading is carried out through MetaTrader 4 and MetaTrader 5, alternative solutions cannot be used.
Deposit and Withdrawal
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If clients trade on a demo account, they do not earn anything;
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Live accounts, namely Professional, ECN, and Prime, allow the broker’s clients to fully trade in the interbank markets and make profits for successful transactions;
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All profits, excluding spreads and fees, are accumulated on the trader's balance, information on which is available in the user account;
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Traders can at any time submit a withdrawal application, but there are requirements for the minimum withdrawal amount;
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Funds can be withdrawn in one of the account currencies or in cryptocurrencies through the most popular channels;
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The withdrawal application may take several days to process. On average, it takes 24-36 hours. The status of the application is displayed in the user account;
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To withdraw profits through definite channels, traders are charged the fee which is indicated in the corresponding section of the website.
Investment Options
Many brokers offer their clients the opportunity to earn passive income; for example, by investing in cryptocurrency staking or through the purchase of dividend stocks. INGOT Brokers also has investment programs.
MAM Pro is a multi-account management solution
Under MAM Pro managers control their own accounts and, in part, the investors' accounts. The fund manager trades using joint capital, that is their own and the investor's. At the same time, an investor does not have to duplicate the amount bet by the fund manager, the investor’s portion can be many times less or more. If the transaction is successful, the profit is distributed among all participants, and managers receive a certain percentage from each investor. A high-water mark allows managers to receive bonuses for especially successful deals. Managers also dictate how to distribute profits — by capital, balance, or lot, evenly or according to customized criteria, which is how the INGOT system differs from traditional MAM accounts.
Copy trading is a smart investment solution
Traders can register in the copy trading service as signal providers or investors. Signal providers broadcast their trades to those who are ready to duplicate them. In case of success, they charge investors a small fee, while in case of failure, all participants lose their bets. At INGOT Brokers, investors receive detailed information on signal providers such as win rate, trading style, recent trades, and the number of clients. Unlike MAM accounts, the signal provider does not manage the funds of investors. In fact, investors trade on their own accounts, where trades are duplicated from the provider’s account. This is a simple and convenient system with a high potential for passive income.
If you are a large investor and plan on investments over $10,000, contact us at vip-invest@tradersunion.com or by the feedback form on our website. Our professional team will take you through all the intricacies of the deal and all the steps from signing up to withdrawal of profits.
The INGOT Brokers’ partnership program is a solution for socially active traders:
Almost all brokers have a standard partnership (referral) program, and the INGOT Brokers program is no exception. Traders receive personal links, which they can post on the internet, send via instant messengers, and by email without restrictions. The user who clicks the link and registers on the broker’s website becomes a referee of the link’s owner. The number of referees is unlimited. The referral brings the owner of the link a percentage of each trading fee, regardless of the asset, order type, or result.
Bonus payouts are free of charge, they are transferred to the trader's main account. For participants of the referral program, there is separate technical support available in several languages.
Customer support
Technical support, which is also called client support, is needed when traders face situations they cannot resolve on their own. Qualified and prompt assistance is available to the broker’s clients. INGOT Brokers’ support is represented by a call center, email, live chat, and tickets in the corresponding section of the website. It works 24/5.
Advantages
- Non-members can contact technical support
- Managers are available 24/5
- Reply speed of the call center and live chat is high
Disadvantages
- Technical support is not available on weekends
If you have questions that require competent assistance of specialists, you can use the following communication channels:
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call center;
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email;
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tickets in the section;
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live chat on the website and in the user account.
INGOT Brokers has its official profiles on several social networks including Facebook, YouTube, Twitter, and Instagram. It is recommended to subscribe to them to stay up-to-date with news of the platform.
Contacts
| Foundation date | 2006 |
|---|---|
| Registration address | Unit 3, 2nd Floor, Dekk Complex, Plaisance, Mahe, Seychelles |
| Official site | https://www.ingotbrokers.com/en |
| Contacts |
002484345580
|
Education
Traders, in order to be successful, need to constantly improve, learn new skills, and adopt new strategies and methods to become master traders. All this is especially important for those who are just starting their journey in the world of trading. INGOT Brokers helps its clients by providing an extensive training program. It is divided into two blocks, namely articles and video tutorials.
Traders note the convenience of the proposed training formats and the ability to use the materials even without having an account with INGOT Brokers.
Comparison of INGOT Brokers with other Brokers
| INGOT Brokers | RoboForex | Pocket Option | Exness | Eightcap | Libertex | |
| Trading platform |
MT4, MT5 | MT4, MT5, R MobileTrader, R StocksTrader, R WebTrader | Pocket Option, MT5, MT4 | Exness Trade App (mobile), Exness Terminal (web), MetaTrader5, MetaTrader4 | MT4, MT5 | Libertex, MT5, MT4 |
| Min deposit | $100 | $10 | $5 | $10 | $100 | 100 |
| Leverage |
From 1:1 to 1:500 |
From 1:1 to 1:2000 |
From 1:1 to 1:1000 |
From 1:1 to 1:2000 |
From 1:30 to 1:500 |
From 1:1 to 1:30 for retail clients |
| Trust management | No | No | No | No | No | No |
| Accrual of % on the balance | No | No | No | No | No | No |
| Spread | From 0 points | From 0 points | From 1.2 point | From 1 point | From 0 points | From 0.1 points |
| Level of margin call / stop out |
No | 60% / 40% | 30% / 50% | No / 60% | 80% / 50% | 50% / 50% |
| Execution of orders | No | Market Execution, Instant Execution | Market Execution | Market Execution, Instant Execution | Market Execution | Market Execution, Instant Execution |
| No deposit bonus | No | No | No | No | No | No |
| Cent accounts | No | Yes | No | No | No | No |
Detailed review of INGOT Brokers
INGOT Brokers is operated by INGOT Global Ltd, which is registered in Seychelles. It works with tier-one liquidity providers, including major international banks. The platform is well-optimized and copy trading is well-integrated with the broker's main website. The MAM Pro system also works without bugs and failures based on the MetaTrader 4 platform. The broker implements the latest technological developments, some of which are unique to the segment. On the other hand, many options are typical and can be found everywhere, but in this case, they are implemented at a high-quality level and are characterized by exceptional performance. The same is true about it calculators and converters. Along with favorable trading conditions, all this makes the platform competitive, and in some respects, it outperforms the segment leaders.
INGOT Brokers by the numbers:
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15 years on the market;
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8 groups of assets;
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Over 1,000 instruments;
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The minimum spread is 0 pips;
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24/5 technical support.
INGOT Brokers is a convenient platform for active trading and investment
In most cases users consider the large variety of assets to be the main competitive advantage of this broker. It offers hundreds of positions, such as CFDs on currencies, cryptocurrencies, stocks, indices, metals, energies, agricultural commodities, and ETFs. This allows traders not to limit themselves in choosing a strategy and to form balanced and diversified portfolios. Moreover, there is high leverage and no trading restrictions. Also, INGOT Brokers is comfortable for investing. Its MAM Pro and the copy trading service enable investors to earn passively in transparent conditions. Plus, the partnership (referral) program allows socially active traders and investors to receive additional bonuses.
Useful services offered by INGOT Brokers:
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Copy trading. This service is integrated into the broker's website. It allows traders to become signal providers or investors. Copy trading is transparent and there is a rating of signal providers;
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MAM Pro. This is a multi-account management system that allows investors to provide a part of their funds under the management of an experienced trader who trades for a small percentage of the profits;
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Economic calendar. It is built into the website. It displays all the main events from the sphere of politics and economics that may affect the movement of quotes for certain assets.
Advantages:
Simple and user-friendly interface of the website and the user account;
Registration and opening of account take no more than 5 minutes;
Low minimum deposit for Pro and ECN accounts;
More than 1,000 assets from 8 groups;
Proprietary copy trading service;
MAM Pro accounts with advanced management options;
Many useful functions and services on the broker's website.
User Satisfaction