INGOT

INGOT Information

INGOT is a Kenya-based financial services company who offers trading services in forex, commodities, indices, stocks and ETFs. The broker offers a demo account for practicing and two tiered live accounts for traders to choose from, with an affordable minimum deposit of $10. It implements segregated accounts to protect investor funds even during insolvencies.

Except for that, the broker provides trading tools such as economic calendars and calculators for investors to catch up with latest market intelligence and understand their trading costs easily.

In addition, educational resources such as glossary and video tutorials equip traders with necessary trading knowledge to make better informed decisions.

What's more, the broker allows copy trading, enabling novice traders to follow and simulate strategies of successful predecessors for quicker gains. The use of the award-winning MetaTrader 5 platform enhances customer experience and absence of deposit/withdrwal/commission fees significantly decrease trading costs of investors.

However, the broker claims to own ASIC and FSA licenses, which is unverified so far by the authorities,indicating possible incompliance to financial regulations and less customer protection set by the regulatory bodies.

Pros and Cons

Is INGOT Legit?

INGOT's ASIC (Australia Securities & Investment Commission) with license no. 000428015 and FSA (Seychelles Financial Services Authority) with license no. SD117 are unverified so far by the authorities, indicating that the company might not be regulated by any financial bodies. Investors should be vigilant and cautious about this.

Regulated Country	Regulator	Current Status	Regulated Entity	License Type	License No.
	ASIC	Unverified	INGOT AU PTY LTD	Market Maker (MM)	000428015
	FSA	Unverified	INGOT SC LTD	Retail Forex License	SD117

What Can I Trade on INGOT?

INGOT offers more than 1,000 market instruments for clients to trade with:

Account Type

INGOT provides a demo account for practicing in a risk-free environment, allowing traders to test their trading strategies without losing real money.

While for live trading, there are 2 tiered accounts to choose from, basing on your trading experience and financial capabilities:

Leverage

INGOT offers different leverage levels for different products:

Please note that high leverage can amplify not only profits but also losses.

Trading Platform

INGOT claims to use both the world renowned MetaTrader 5 platform, which is popular among investors worldwide for its user-friendly interface, robust functions, comprehensive market access and advanced analysis tools.

The broker also provides the CopyTrader platform for users to access and imitate top-performing traders with a proven track record and copy their strategies to elevate trading experience.

Furthermore, the broker's proprietary INGOT app is said to be coming soon, let's stay tuned.

Fees

INGOT indicates on its websiste that it charges inactivity fees and currency conversion fees, but the details are not disclosed. You should reach the broker before you choose to trade with them to ensure you have full understanding of these costs.