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0 1 2 3 4 5 6 7 8 9
/10

IGM Forex

Cyprus Cyprus | 5-10 years |
Questionable Regulatory License | Suspicious Operational Region | High Potential Risk

https://igmforexltd.com/

Website

Rating Index

Contact

+357 25 252 371
https://igmforexltd.com/
1 Agias Zonis, No. 504, Block B, 5th Floor, Nikolaou Pentadromos Center Building, 3026 Limassol, Cyprus

license Forex License

risk

No forex trading license found. Please be aware of the risks.

Warning: Low score, please stay away!
  • This broker lacks valid forex regulation. Please be aware of the risk!
3

Basic Information

Registered Region
Cyprus
Operating Period
5-10 years
Company Name
IGM Forex Ltd.
Email
info@igmfx.com
Contact Number
+357 25 252 371
Verified Site
About Us
Wiki Q&A
Comment

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Official Website

Verified Site

  • igmforexltd.com
    172.67.219.146
    Server Location
    United States United States
    ICP Registration No.
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    Top Visitor Locations
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    Creation Date
    --
    Website Name
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    Company
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Company Profile

Company Profile

Review summary

General Information & Regulation

IGM Forex Ltd is authorised and regulated by the Cyprus Securities and Exchange Commission with CIF license number 309/16. IGM Forex Ltd is operating the website www.igmfx.com (a trading name of IGM Forex Ltd) for the provision of services within the European Economic Area. The Company is located at 5, Matheou Matheou Str. , Agiou Athanasiou Industrial Area, Limassol , 4101. IGM FX customers are divided into retail and professional, depending on their previous trading background.

Market Instruments

Traders can get access to over 160+ CFDs based on shares, indices, commodities, and cryptocurrencies, on top of the FX offer.

Minimum Deposit

IGM Forex offers both retail and professional customer 4 different account types: Silver, Gold, Platinum and VIP accounts. The minimum deposit is likely $250 or a currency equivalent. Many other brokers, actually, require much less intial deposit of $50 to $100.

图片

IGM Forex Leverage

The leverage here is abiding by the guidelines of authorities. Hence, it is capped at 1:30. While for professional clients, they can apply a higher leverage of up to 1:400.

Spreads & Commissions

IGM Forex offers commission-free trading; traders have to pay some spreads or swap charges. The spread starts as low as 0.7. The spreads charged by the broker are different for every asset and are floating. And spreads also are different for every account type. The platinum account holder clients get less charged.

Trading Platform

Traders working with IGM FX are able to trade from the worlds no. 1 platform. MetaTrader 4 (MT4) provides 30+ indicators and its EA compatible, advanced charting, free trading analysis tools, multiple execution and order types, as well as customizable push notifications and alerts. Via the platform, access to all 160+ available markets is granted with no limitations. Alongside MT4, IGM FX also has a web-trading solution that does not require any installation.

Deposit & Withdrawal

The broker offers a wide range of payment options for depositing and withdrawing funds, including Visa, Mastercard, Bank wire transfer, Credit/ Debit Card, Neteller,Skrill, and VPay. IGM FX allows charge-free deposit and withdrawal. Customers might get charged as the inactivity fees or might when there are withdrawals less the 50 EUR. The payment processing timings are based on different payment options.

Customer Services

IGM FX offers a 24/7 customer support service. Clients are able to get in touch with a representative via email, phone, or live chat. Because the brokers main office is in Limassol, Cyprus, customer support is available in English. There is also the ability to fill in a contact form on the website and a representative will reply in due time.

Company Profile

  • 5-10 years
  • Questionable Regulatory License
  • Suspicious Operational Region
  • High Potential Risk

Wiki Q&A

What is the regulatory status and risk profile of IGM Forex?

According to WikiFX data, IGM Forex Ltd. is an unregulated entity that operates without a single verified license from any mainstream financial authority, and its reported CYSEC registration in Cyprus holds an 'Unverified' status; this complete lack of formal oversight, combined with a very low WikiFX score of 1.51, defines it as a high-risk broker with significant gaps in investor protection.

04-02
United States

Which financial regulator oversees IGM Forex?

IGM Forex is not subject to formal oversight by a recognized financial regulator; while the company claims a registration in Cyprus, its purported license from the Cyprus Securities and Exchange Commission (CYSEC) remains officially 'Unverified', and the broker does not hold any other validated licenses, meaning it operates outside of standard global regulatory frameworks.

04-02
United States

What is the official website of IGM Forex?

An official website address for IGM Forex is not currently disclosed in its public profile.

04-02
United States

How should I compare different forex brokers to find the best one?

To compare different brokers, investors can make comprehensive judgments from multiple dimensions such as regulatory qualifications, overall ratings, trading environment, account conditions, and user feedback. In general, priority should be given to regulatory status and license information, followed by WikiFX ratings and various indexes (such as risk control, software, and business indexes). At the same time, trading conditions (such as spreads and execution speed) and account information (such as minimum deposit and account types) should also be compared. In addition, user reviews, exposure records, and risk assessment information can also be considered to evaluate broker safety and trading experience from multiple aspects. The WikiFX platform also provides multi-dimensional broker comparison tools. Users can select different brokers for visual comparison and comprehensive analysis, so as to make decisions more efficiently.

04-02
United States

How can I determine if a forex broker is regulated?

To determine whether a broker is regulated, the key is to verify whether it holds a valid financial license. Investors can check the license number and status through the official websites of regulatory authorities (such as Financial Conduct Authority, Australian Securities and Investments Commission) to confirm whether the license is real and under valid supervision. It should be noted that some brokers may engage in license cloning or unauthorized operations, meaning they use another company's license or provide services in regions where they are not authorized. These situations also involve risks. In addition, investors can use WikiFX to check the broker's regulatory status, historical records, and risk ratings as supporting reference, so as to evaluate its compliance more comprehensively.

04-02
United States

What is a clone broker website?

A cloned broker website refers to a fraudulent website that imitates the information of a legitimate broker. Such websites usually copy the real company's brand name, page design, and even regulatory information to mislead investors into making deposits. Common features include: a domain name highly similar to the official website (such as slight spelling differences), abnormal or unverifiable contact information, and promises of unusually high returns. Once funds enter such platforms, they are usually difficult to recover. Investors can identify potential risks by checking the official domain name, verifying regulatory information, and using WikiFX for cross-verification.

04-02
United States

What does it mean if a broker holds multiple regulatory licenses?

If a broker holds multiple regulatory licenses, it usually means that it operates in multiple countries or regions and needs to comply with the requirements of different regulatory authorities. Its overall credibility is generally higher. However, it should be noted that regulatory strength differs between licenses. Some offshore regulations have weaker restrictions, so safety should not be judged only by the number of licenses. It is recommended to focus on whether the broker holds licenses from major regulators such as FCA or ASIC, and evaluate its regulatory status, historical records, and overall rating together. You can also check all regulatory information and performance under different regulators on the WikiFX platform to more comprehensively assess its actual risk level.

04-02
United States

How can I identify a scam or fraudulent forex broker?

A broker can be evaluated as a potential scam platform by considering multiple factors such as regulatory qualifications, user complaints, fund security, and platform data. In general, brokers without valid regulation, those that frequently have withdrawal problems, those with a large number of user complaints, or those providing false information usually carry higher risks. You can check the broker's regulatory status, overall rating, exposure records, and user reviews on the WikiFX platform, and make judgments based on multi-dimensional data to effectively identify and avoid scam platform risks.

04-02
United States
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※ WikiFX compiles data from publicly available sources and user contributions. While we endeavor to maintain its accuracy, we do not warrant the information's completeness, accuracy, or timeliness, as it may become outdated. Investors are strongly advised to verify critical details with official sources before making any decisions.
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