INGOT Brokers is one of the most reputable brokers that provide online trading services. The company provides its clients with access to the foreign exchange market and the ability to trade stock indices, including NASDAQ, Dow Jones and S&P 500, as well as precious metals, futures, CFDs, commodities (gas, crude oil) on major world exchanges.
INGOT Brokers head office is located in Sydney, there are also representative offices in New Zealand, Switzerland, Bahrain. The company conducts transactions worth billions of US dollars every month.
The broker is regulated by the Australian Securities and Investments Commission ASIC (AFSL 428015).
ASICs require licensed companies to meet specific requirements and comply with established rules. For example, clients' money must be held in segregated accounts and Australian Forex brokers must have at least $ 1 million in their account.
However, unlike European brokers, Australian companies are not required to join the Investor Compensation Fund. Despite the ASIC regulation, we advise you to read the reviews about the company in our rating before starting trading with INGOT Brokers.
A single account is provided for trading. With a minimum deposit of $ 1,000, the client can use the leverage up to 1: 100. The spreads are fixed, the average for the EUR / USD pair is 2 pips. The broker earns from the spread and does not charge additional commissions. The maximum leverage that a trader can use is 1: 100. Many dealing centers offer significantly higher leverage, which gives traders the ability to trade with small deposits.
The broker's clients are provided with access to the stock markets of MENA countries (Maghreb and Middle East countries) - Dubai Financial Market, Saudi Stock Exchange, Egyptian Stock Market.
The broker supports the industry standard MetaTrader4 (MT4) trading platform. It is available from the browser window as an application on PC and mobile devices. MT4 is the choice of thousands of traders around the world for its advanced charting suite, analytical tools, a wide range of experts (EAs) and extensive testing environment. Expert Advisors allow you to fully automate trading, giving the trader more free time.
INGOT Brokers also cooperates with the ZuluTrade service, which allows a more successful trader to copy trades or act as a signal source. The service works in the two most popular areas of financial trading - the Forex market and the binary options market.
Analytics and training
The website regularly publishes analytical reports of the Asian, European and MENA markets. They contain major news and daily price monitoring. For beginners, the company's specialists specially recorded video tutorials that tell how to work with the terminal or open an account with a broker. All analytical information and glossary are presented in English.
The support service works through live chat on the website, by phone and via Skype. Managers communicate in English, French, German, Russian and Arabic. The broker has accounts on many social networks, which allows traders to follow news and updates in the most convenient format.
Ways of payment
INGOT Brokers offers its clients several ways to deposit / withdraw funds: bank transfers, electronic payment systems Neteller, WebMoney, FasaPay, PerfectMoney, Payeer, OKPAY, AliPay, EPay and Skrill.
regulated broker; provides access to the stock markets of MENA countries; MT4 terminal is available.
limited selection of trading accounts; high down payment; small leverage; scalping is prohibited.
INGOT is a brokerage company whose task is to provide intermediary services to traders. Brokers provide access to currency trading in the first place. Many of them also provide an opportunity to transact with company stocks, bonds, commodities, precious metals, indices, cryptocurrencies and other assets. A private person can make transactions with all these instruments only on the trading platform, which the broker provides access to.
In addition, thanks to the brokerage company, an individual can operate on the market with amounts that significantly exceed the size of their own funds. This is called providing leverage. For example, having a deposit of 1,000 USD with a 1: 400 leverage, a trader can make deals for 400,000 USD.
The broker also opens access to analytics, auxiliary tools, and trading signals. Modern trading is impossible without all this.
The broker INGOT makes profit from traders' transactions, as a rule, in two main ways.
The first is the most common. Using spreads. This word refers to the difference between the best prices for buying and selling a particular asset at a particular moment. Moreover, in a transaction between a trader and a broker, the price is one, and between a broker and users of the Forex market - another. The mediator takes the difference for himself.
The second way is easier to understand. This is the collection of a commission for each transaction performed. Most often it has a standard value, but it can be measured as a percentage.
Thus, the brokerage company is interested in attracting as many clients as possible and for them to conduct active trading.
We have found out how honest brokers should work and how they work. Now let's look at how scammers operate, they are also called the kitchen.
The most common way to cheat is to tweak quotes. The broker provides the trader with quotes that differ from the real market ones. Data substitution occurs in order to make operations unprofitable. The deposit is reduced, and then completely zeroed out. At the same time, the trader thinks that his operations were carried out in the market, but in fact - only on the site of scammers.
Bonuses are traps. They are generously distributed for anything: for registration, account replenishment, etc. Only after that, in order for the client to withdraw his own money, mixed with bonus money, it will be necessary to fulfill a number of virtually impossible conditions. For example, conduct trading operations for an amount tens of times greater than the size of the deposit.
In the User Agreement, a clause can also be disguised that allows the broker to manage the client's money. Inattention when reading such an agreement most often turns into a complete loss of the deposit.
One of the key points is the place of registration and regulation of the company's activities.
Let's talk about registration first. As a rule, brokers from either their own country or from an economically developed country, for example, a member of the European Union, are more credible to traders. Of course, compliance with UK legislation is reassuring, and compliance with the legislation of an unknown island in the Indian Ocean does not mean anything to most.
However, most brokerage companies are registered offshore. And it's not only about small offices, but also about world leaders. Saint Vincent and the Grenadines, Belize, Marshall Islands, Mauritius are offshore zones popular among brokers. By registering there, companies pay significantly less taxes than in the place of actual location, which is sometimes carefully hidden.
If a trader has any claims against such a company, then it is likely that he will have to deal with it in accordance with the legislation of that very conditional Belize. It is possible to be physically present there at the court sessions. And this is extremely expensive and difficult.
But is it worth running like fire from just the word "offshore"? As an answer, we will give the names of companies that are not related to brokerage, but with an impeccable reputation and also save on taxes through offshore registration: Apple, Pfizer, Microsoft, General Electric, Intel.
And here we come to the second important point - this is the regulation of the broker's activities. First of all, it is carried out at the level of the state where the company is registered. Each country has its own regulatory body for brokerage activities. So, in Russia it is the Central Bank of the Russian Federation. A trader can find permissive documentation on the websites of such bodies. But there are also supranational structures. For example, the International Financial Commission (The Financial Commission), which is an independent self-regulatory organization, considering disputes between its members - brokers and their clients.
If the broker's website does not contain information about the regulation of its activities, then these are almost certainly scammers. Or the site contains information about a certain license issued to him, but this information is not confirmed anywhere else. Most likely, these are also scammers.
When choosing a brokerage company, study its history. Check out the links to her experts. If one of the leading TV channels in economic news for 5 years in a row refers to the opinion of the analyst of the broker in question, this is good. If a broker claims to have been working for 15 years, but there is no information about him on the Internet at all, this is bad.
It's important to pay attention to company reviews. And read them not only on the website of the broker itself. In the kitchen, they will probably only be laudatory. It is best to browse as many sites as possible.
Pay attention exclusively to the specifics in the offers on the brokers' websites. Honest companies openly write about interest, spread size, minimum deposit, etc. Fraudsters lure with loud, streamlined phrases about a rich tomorrow, stable income, misleading with incomprehensible terms about multi-sites, super functions, and so on.
Find out the company's connection with well-known brands, financial institutions, public organizations. For example, it can be sponsored. Large brokers sometimes hold social promotions. Fraudsters will definitely not do this.
Thus, the process of choosing a broker is complex. But if you approach it carefully, it will allow you to enter the world of trading, which has made millions of people rich all over the world.
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Before any trade and choosing a broker You must always read reviews on this site and on other sites. Brokers who are honest, have a rating of above 3.8. Also there is always the risk of loss when trading CFDs. Be careful and read the disclosure on the website of the broker. INGOT received a score of 1 of 5 on our resource.