A short glance at the IGC Trades broker’s website told us everything we needed to know. This firm is a scam. How can we judge so quickly? Just look at the fake regulations at the bottom of the page. And the more we searched, the worse it became. Read our IGC Trades review and you will get all the information.
| Broker status: | Unregulated |
| Regulated by: | Unlicensed brokerage |
| Scammers Websites: | igctrades.com |
| Blacklisted as a Scam by: | N/A |
| Owned by: | International Markets Management Ltd |
| Headquarters Country: | UK |
| Foundation year: | 2021 |
| Supported Platforms: | MT4 |
| Minimum Deposit: | 100 EUR |
| Cryptocurrencies: | Available |
| Types of Assets: | FX, commodities, indices, shares, cryptocurrencies |
| Maximum Leverage: | 1:500 |
| Free Demo Account: | Yes |
| Accepts US clients: | No |
What About IGC Trades Regulation?
IGC Trades is owned by International Markets Management Ltd and allegedly based in the UK. The firm claims to have regulations by the MFA (Markets Financial Authority) and IRBEM (International Regulator & Brokerage E-Markets). As you can guess, these two authority bodies are made up and cannot provide any license.
In addition, we strongly advise you not to invest in Chase Capital Online, Uni-Co and Btec Global fraudulent brokers.
Why Must a Broker Have a License?
License is of utmost importance for clients to be safe. This means the broker follows regulatory rules and, if registered with a Tier1 license provider, has a compensation fund. This fund is to be used for reimbursement of potential scam victims.
Since we have already determined that IGC Trades has only fake licenses and never opted for the FCA regulation, you have no money-back guarantees.
Traders Reviews About IGC Trades Scam
IGC Trades reviews suggest that this firm is a typical offshore scammer. The company will encourage you to invest money, but they will restrict your account access once you submit your withdrawal request and stop answering your calls. Other clients suggest that the firm uses Balkans banks to operate, which is not hard to believe, knowing that many scammers are choosing these countries as their boiler rooms.
Where Is IGC Trades Trading Scam Active?
It seems that IGC Trades mainly operates in:
- Spain
- Germany
- Italy
- UK
- Sweden
Supported Trading Platforms – Available Trading Software
If there’s one good thing to mention, it’s the IGC Trades platform. The firm offers access to MetaTrader 4, one of the best software for online trading.
Platform for Desktop
MT4 offers a vast number of charts and indicators, a robotic trading system, EAs, and more. You can use it as a WebTrader or download a desktop app. And while all this looks terrific, there’s a slight issue. When the firm has no license, it usually provides unregulated trading conditions. That’s what IGC Trades does, for example, enabling leverage up to 1:500 against all regulatory rules. It puts your funds at risk, and no matter how good the platform may be, you’re still in danger of losing all your money.
Android Trading
IGC Trades has a mobile app for both Android and iOS, which is quite useful and convenient. Again, it comes with unregulated trading terms, so be careful.
Everything About IGC Trades Trading Accounts
There are 2 IGC Trades account types:
- Raw
- Standard
While the Account Types section claims the minimum is 100 AUD or equivalent (a bit less than 70 EUR), right underneath, you will find that you can start with 100 EUR. We’re unsure which of these is accurate, and the difference is 30%.
IGC Trades Range of Trading Instruments & Markets
The company offers standard trading instruments, including:
- Currency pairs
- Commodities
- Indices
- Shares
- Cryptocurrencies
Also remember the names of the Gravity Trade, FX Elite Trader and EUFinance trading scams and avoid them at all costs! Moreover, always check the background of online trading companies before investing!
Providing Excessively High Leverage Ratios
As mentioned, the leverage with IGC Trades is up to 1:500. Regulators in the EU and UK limit it to 1:30 or 1:50 for the Forex market, meaning that trading company offers 10x more. And it means that your funds are at ten times higher risk. Since the firm has no compensation funds, we’re sure you don’t want to go into these risks as you cannot get reimbursed.
IGC Trades Deposit and Withdrawal Methods
As mentioned, there’s confusion regarding IGC Trades minimum deposit. However, if you decide to invest, you can do it using:
- Debit/credit cards
- Wire transfer
- Neteller
- Skrill
- Poli
- China Union Pay
There are no transaction fees besides those your bank may charge.
The same methods are available for withdrawals. The company claims that those who do not have an Australian bank account may be subject to intermediary transfer and/or conversion fees. Implying your funds are held in Australian banks, which cannot be accurate since the firm has no ASIC license nor has it ever mentioned an Australian entity.
Bonus Policy Terms
There’s nothing on bonuses accept the clause “Funds appearing on the Clients account may include agreed or voluntary bonuses and incentives, or any other sums not directly deposited by the Client or gained from trading on account of actually deposited funds.” The broker can decide to provide you with the bonus without notifying you and then make rules about repaying it, as the Terms and Conditions show nothing about this matter.
Scammed by IGC Trades Broker? – Tell Us Your Story
If you are scammed by IGC Trades or a similar bogus broker, it’s time to get help. Instead of letting fraudsters run with your hard-earned money, you can contact us for assistance with the chargeback process.
But What Is A Chargeback?
This is a way for your bank to recover the funds you lost. Contact us via online chat to book a FREE consultation, and let’s discuss the matter thoroughly. You can only gain more knowledge on how to recover stolen money. Don’t waste time; act now!