Igi Markets Review: Igimarkets.com Universal Scam

IGI Markets claims it wants to upgrade the trading experience of investors. Unlike other brokers in the market, they are exceptional. The entity will not give you a hard time. Instead, they allow you to use strategies that best work for you. The platform also claims it puts the needs of all its customers first. Allowing them to grow together. 

The scheme purports it has sophisticated trading tools. Excellent risk management policies that allow clients to maximize income. Moreover, they also focus on enforcing ideal security. These features are some of what the entity believes should be your first choice.

Unfortunately, IGI Markets fails to provide past reading results. The entity has been in the market since February 2022. They lack a trading history. The scheme also targets being in the market for one year. We highly doubt the entity will bother renewing its registration. 

Another factor to consider is the company does not bother to reveal the people behind the scheme. The firm is operating behind the shadows. Suppose they have nothing to hide. Why are they observing a high level of anonymity? We do not recommend venturing with the broker. Instead, look for a transparent venture. 

Igimarkets.com Review

IGI Markets allegedly has over 500 trading products. It is an excellent opportunity for investors when a broker has multiple assets. It allows traders to diversify their risks by choosing various products. The venture brags it offers perfect training conditions. What offshore firms put in wring is different from what they deliver. 

Available assets include; forex, stocks, commodities, cryptos, and indices. These are volatile products. Their prices keep changing. Therefore, investors need to familiarize themselves with the market. At least get some basic trading knowledge before signing up to any investment company. Have an insight on what to expect. 

IGI Markets claims it is also offering educational resources. It is an added advantage for the entities to look after customers. However, we are not aware whether the materials are helpful to both novice and expert traders. We cannot validate if the entity is offering learning material. Offshore entities tend to break their promises. 

Instead of risking your fund safety with a doomed venture, why not choose reliable companies. Here is a list of top regulated forex brokers. The entities have excellent trading conditions. They also handle the withdrawal requests of traders in time. 

IGI Markets Trading Conditions 

IGI Markets give investors several accounts to choose from. There are 5 packages. The basic account accepts a minimum deposit of 500 EUR. The amount is beyond the market standard. You can start trading with $10 and above. The firm offers a spread of 1.5 pips and a leverage of 1:10.

Again the limit is uncompetitive and below what the authority permits. The trading conditions get better if you are willing to spend more money. The scheme leverage limit is 1:50. It is uncertain if they are charging a commission. Everything is unpredictable with offshore firms. 

The legit platform will not ask you for more money to provide competitive trading conditions. Instead, you will need to prove you are an expert trader. Provide your trading reports, or you have worked in a financial institution for a particular timeframe. 

Moreover, despite the venture bragging it utilizes the best technology to gain more provide, we found a web trader platform. The interface lacks advanced features. It may be helpful to beginners, but this is not the best software. 

Withdrawal and Deposit 

Interested investors can cash in via; debit/credit cards or wire transfers. However, for card payments, investors need first to contact the company. You can as reasonably assume the only working method is the wire transfer. Once you execute a transaction, it is impossible to recover the money. Wire transfers are futile. 

On the other hand, bank cards allow customers to issue a chargeback from up to 540 days. IGI Markets cannot risk letting such a possibility from happening. Additionally, they may ask you to install a remote access application on your gadget for them to help you make a deposit. Never fall for such attempts. 

The broker is also charging withdrawal fees. However, the firm does not bother to provide extensive details. The terms and conditions of IGI Markets are sickening. They prove this is not the best entity to deal with. The company also states it has the right to change legal documentation whenever it deems fit in its sole discretion. 

Do not be surprised when the company inflicts hidden charges. The inactivity fee and timeframe conditions are ridiculous. Clients who have not traded for 10 days will be charged an unspecified fee. We have never encountered such requirements before. Some legit brokers do not even charge inactivity fees. Others will only consider an account dormant if you have not engaged for 6 months. 

IGI Markets charge a closure fee of 15.5% for closing your account. Additionally, the venture can decide to terminate your account. They have the right to retain all your funds without paying you a penny. Scammers avail such clauses. 

Reasons why IGI Markets can terminate an account 

The platform can close your account if your account balance is below 10,000 EUR. This is a lot of money. Why would anyone terminate your account for such a lame reason?. Lethal scammers are operating IGI Markets. 

Investors that accept bonuses must meet a turnover of 30 times. Failure to do that, you cannot cash out. It is impossible to meet the condition. Eventually, you will have to give up. This is why we stress you take your time when going through brokers’ legal documentation. 

Contact Details and Customer Support 

IGI Markets has a Switzerland office address. We presume this is another randomly generated location. For starters, scammers are smart. They would not expose themselves by revealing their area of operation. 

Customer support is available via email and phone number. The entity will reach you when it needs funds from you. If you become a nuisance and start asking about the whereabouts of your money, the scheme will cut you off. 

IGI Markets Regulatory Status

Switzerland is a country that has a rigid regulatory body. Swiss Financial Market Supervisory Authority (FINMA) is reputable in the industry. All brokers must seek a license from the agency if they wish to operate in the country. Moreover, the venture has a poorly designed website. Therefore, we doubt the firm can afford to raise 20,000,000 Swiss Francs capital.

IGI Markets does not participate in a compensation scheme. If the venture faces bankruptcy, investors won’t receive a penny. However, if you trade with a legitimate Swiss venture, you will get 100K Swiss Francs. 

Legal documentation indicates the scheme adheres to the rules of Marshall Island. The destination does not have a financial regulator. It has become a Ponzi scheme breeding ground. Anyone can open an office from Marshall Island without being physically present. 

Stick to licensed companies and enjoy fund safety. You will also be protected against a negative account balance. There are several advantages awaiting you. Legit brokers operate in full transparency. They will show you who is handling your money. 

Final Verdict 

IGI Markets is an obvious scam. You only need to check their withdrawal requirements to see the wickedness of the broker. The firm is only after investors’ funds. They are not licensed, and it would be impossible to go after them.

Check out these leading forex trading companies in the market. The platforms are ideal and have excellent trading conditions. They also work with professionals, and you can count on them to help with any challenge. 

Are the trading conditions of IGI Markets favorable?

No, the scheme exposes traders to severe risks.

Does IGI Markets have a license?

Unfortunately, this is an illegal scheme

Can Investor earn the advertised returns?

The only thing you can get from IGI Markets is huge losses.