IGM Forex Ltd Review – Too Many Shortcomings To Warrant Recommendation

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Roaming the global markets is hardly profitable when you don’t have a reliable broker dealer at your side. IGM FX is one well-established brokerage brand that has the means to help you build up your trading skills and confidence.

With a variety of services, professional customer support and advanced trading tools, you can explore the world markets and enjoy the safety of a CySEC regulated platform. For more details, read our IGM Forex Ltd review.

The CySEC compliance means that the broker is enforcing all of the strictly defined rules and conditions that pertain to legal operating. From segregation of funds to compensation plans and risk-controlling measures, these are available for all EEA users. 

Some of the traders describe the phone agents’ persistence to have them invest, while others claim their user data is sold and withdrawals prevented. It appears there’s much more to this service provider than meets the eye, so careful if you decide to invest here.

Many of the ex customers describe the methods used on them to force investments. Apparently, the phone agents employed by this firm have a huge capacity for relentless calling for days on end. 

Selling the story about remarkable returns and lucrative conditions is how this sort of platform gets new customers and eventually profits off their losses. Please do not hesitate to ask for our professional help if you wish to restore your initial investment with the IGM FX website. 

As a MiFID compliant firm, the company almost exclusively works with EEA clients:

The IGM Forex Ltd platform is barebone. You may choose your particular asset, view its price chart, buy or sell it, and that’s pretty much it.

First of all, we need to discuss the account creation process for the IGM Forex Ltd login. Before allowing you to create an account, the company will subject you to a questionnaire with 26 different questions.

The only differentiating thing about these accounts seems to be the name:

If you’ve completed the arduous onboarding process, you will be instantly granted a demo account. The IGM Forex Ltd demo holds €100,000 in virtual assets, which is plenty for all the testing you need. Traders may simulate trading any of the available trading assets from the platform.

You will only be granted the full list of financial instruments if you had the patience to create an account. The broker offers the most popular categories, and the largest selection of assets is in the Forex group.

Here is what you may trade:

What came as a surprise from IGM FX is the fact that the retail traders enjoy the CySEC defined leverage of 1:30, while professional traders can still trade with a maximum exposure of 1:500.

Trading costs are quite affordable, with 0.7 starting pips on most commonly traded Forex pairs. 

The downside to the offer is that fees are charged for every funding operation, withdrawals and prolonged inactivity period.

We’ve already discussed that clients repeatedly complain about issues with payouts. What a regulated broker shouldn’t do is stall with the withdrawals, not show enough transparency and not respect the processing time. 

It seems that IGM FX manifests all of these behaviors that seriously question their capability as a licensed entity to indeed provide the services they promise. 

However, since the platform allows transfers only via credit cards, this method is secure and transparent. It is safe to invest as long as you request a chargeback within 540 days since the deposit was made.

The many problematic aspects of dealing with this broker makes us suspect the company’s quality of service. Besides this, none of the trading features would make us recommend the company.

Serious accusations about problematic IGM Forex Ltd withdrawals still remain. If you run into any trouble with this firm, contact your regional financial regulator, or book a free consultation with our legal experts if you wish to start a chargeback.

The company is a licensed entity operating under CySEC supervision, and in compliance with MiFID regulation.

The only way to deposit is through a credit card. Minimum deposit is €250.

The sole trading platform is a simplistic web trader that doesn’t offer much flexibility.

Depends on the account type. Classic account owners have to pay 3.5% for withdrawals. If that doesn’t help you with a payout, feel free to consult our legal experts.

The post IGM Forex Ltd Review – Too Many Shortcomings To Warrant Recommendation appeared first on Global Fraud Protection.


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