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IGM Forex -

Score

4.10 /10
Average

IGM Forex

Cyprus

5-10 years

Regulated in Cyprus

Straight Through Processing(STP)

Suspicious Scope of Business

High potential risk

https://igmfx.com

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Comparison

Quantity 6

Exposure

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Website

Score

Regulatory Index5.50

Business Index7.73

Risk Management Index0.00

Software Index4.95

License Index3.92

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Website

Licenses

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

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Broker Information

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Company Name

IGM Forex Ltd

Company Abbreviation

IGM Forex

Platform registered country and region

Cyprus

Company website

Company summary

Pyramid scheme complaint

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WikiFX Risk Alerts
Previous Detection : 2025-01-31
  • The number of this brokers's negative field survey reviews has reached 1. Please be aware of the risk and the potential scam!

WikiFX Survey

Danger

IGM Forex

Cyprus

WikiFX Verification

Exposure

6 pieces of exposure in total
Pyramid scheme complaint
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IGM Forex · Company summary
IGM Forex Review Summary
Founded2019
Registered Country/RegionCyprus
RegulationRegulated in CySEC
Market InstrumentsForex, Commodities, Indices, Stocks
Demo Account❌
LeverageUp to 1:400
Spread0.03 pips for EUR/USD pair
Trading PlatformIGM FX Webtrader
Min Deposit/
Customer Supportsupport@igmfx.com
+357 25 252 371

IGM Forex Information

IGM Forex is a regulated broker under CySEC, offering access to over 160 CFDs on various instruments, including forex, commodities, indices, and stocks. The broker provides a user-friendly Webtrader platform, but it lacks downloadable trading software or a dedicated mobile app.

IGM Forex Information

Pros and Cons

Pros Cons
Regulated by CySECNo dedicated mobile app or downloadable software
Tight spreads starting from 0.03 pipsLimited information about educational resources
Leverage up to 1:400No demo account
Wide range of instruments

Is IGM Forex Legit?

AspectDetails
Entity NameIGM Forex Ltd
Regulatory BodyCyprus Securities and Exchange Commission (CySEC)
License TypeStraight Through Processing (STP)
License Number309/16
Effective Date2016/8/16
Is IGM Forex Legit?

What Can I Trade on IGM Forex?

IGM Forex provides a wide selection of trading products, including over 160 CFDs across several asset classes.

Tradable Instruments Supported
Forex✔
Commodities✔
Cryptocurrency✔
CFD✔
Indexes✔
Stock✔
Forex✔
What Can I Trade on IGM Forex?

Account Types

IGM Forex provides two account types , including retail trading accounts and professional trading accounts.

Retail Trading Accounts

FeatureClassicSilverGoldVIP
Leverage (Up to)1:301:301:301:30
InstrumentsAll assetsAll assetsAll assetsAll assets
Margin Call100%100%100%100%
Stop Out50%50%50%50%
Minimum Volume/Trade0.010.010.010.01
Maximum Volume/Trade50505050
SupportYesYesYesYes
Full Account Overview--MonthlyWeekly
Retail Trading Accounts

Professional Trading Accounts

FeatureClassicSilverGoldVIP
Leverage (Up to)1:4001:4001:4001:400
InstrumentsAll assetsAll assetsAll assetsAll assets
Margin Call100%100%100%100%
Stop Out20%20%20%20%
Minimum Volume/Trade0.010.010.010.01
Maximum Volume/Trade50505050
SupportYesYesYesYes
Full Account Overview--MonthlyWeekly
Professional Trading Accounts

Leverage

IGM Forex allows Retail Accounts to leverage 1:30 and Professional Accounts 1:400. This lets traders hold larger positions with a lower starting investment, increasing profit possibilities. Higher leverage increases the possibility of large losses and rewards. Traders should utilize leverage carefully and manage risk to reduce risks.

IGM Forex Fees

IGM Forex's fees are tight compared to industry standards. The broker advertises zero commission, tight spreads starting from 0.03 pips, making IGM Forex one of the tightest brokers.

IGM Forex Fees

Trading Platform

Trading PlatformSupported Available Devices Suitable for what kind of traders
IGM FX Webtrader✔Desktop, Mobile (Web-based)Beginners to advanced traders who value portability and ease of use
Cross-Platform Trading✔All Devices with a BrowserTraders seeking access to accounts on multiple devices with no downloads
Trading Platform

User Reviews

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User comment

4

Comments

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FX1660082315
more than one year
They are horrible, useless, incompetent with respect to competing wire transfers made to one's brokerage account. It's my l money and yet I need to message them for days together to complete the transfer. Really incompetent in terms of customer service. I have made 4 wire transfers so far and each time it's same story!
They are horrible, useless, incompetent with respect to competing wire transfers made to one's brokerage account. It's my l money and yet I need to message them for days together to complete the transfer. Really incompetent in terms of customer service. I have made 4 wire transfers so far and each time it's same story!
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2024-03-28 10:14
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：╭⌒红宝石
more than one year
IGM Forex, a CYSEC-regulated broker is a reliable broker, and I have been a big fan of it. starting with my first trading here two years, I was provided professional trading services, fair and transparent fees. Despite switching many brokers, I love IGM the most.
IGM Forex, a CYSEC-regulated broker is a reliable broker, and I have been a big fan of it. starting with my first trading here two years, I was provided professional trading services, fair and transparent fees. Despite switching many brokers, I love IGM the most.
Translate to English
2023-02-24 14:35
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