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/10

INGOT

Kenya Kenya | 2-5 years |
ECN Account Suspicious Regulatory License | Self-developed | Suspicious Scope of Business | High potential risk

https://www.ingotbrokersafrica.com/en

Website

Rating Index

Contact

+254 727 174 174
https://www.ingotbrokersafrica.com/en
Unit C, 4th Floor, Delta Chambers, Westlands, Nairobi, Kenya

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
Kenya
Operating Period
2-5 years
Company Name
INGOT KE LTD.
Customer Service Email Address
customerservice@ingotbrokersafrica.com
Contact Number
+254727174174
Account
Related Software
Website
Genealogy
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Company Summary
Wiki Q&A
Comment
MT4/5

Formal full license MT4/5 traders will have sound system services and follow-up technical support. Generally, their business and technology are relatively mature and their risk control capabilities are strong

Trading App
All 2
iOS 1
Android 1
logo
INGOT Card
INGOT Card allows clients to conduct their financial transactions using one card
Downloads
614
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INGOT Card
INGOT
Downloads
229
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Official Website

Website

  • ingotbrokersafrica.com
    13.248.223.61
    Server Location
    United States United States
    ICP registration
    --
    Most visited countries/areas
    --
    Domain Effective Date
    --
    Website
    --
    Company
    --

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INGOT

Related Companies

INGOT AU PTY LTD(Australia)
Australia
INGOT AU PTY LTD(Australia)
Active
Australia
Registration No.159895431
Established
Related sourcesWebsite Announcement

Company Profile

Company Profile

Review summary

INGOT Review Summary
Founded2019
Registered Country/RegionKenya
RegulationASIC/FSA (Unverified)
Market InstrumentsForex, Indices, Stocks, Commodities, Metals, Energies, ETFs
Demo Account
LeverageUp to 400x
EUR/USD SpreadFrom 0.7 pips
Trading PlatformMetaTrader 5, INGOT Copy Trader
Copy Trading
Minimum Deposit$10
Customer SupportOnline chat
Tel: 25411 119 3877; 0202 172 172
WhatsApp: +254727 174 174
Email: info-KE@ingot.io; customerservice-ke@ingot.io
Social platform: Twitter, LinkedIn, Telegram, Facebook, Instagram, Tiktok
Address: Unit C, 4th Floor, Delta Chambers, Westlands, Nairobi, Kenya
Restricted AreaUnited States of America

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.

INGOT's homepage

Pros and Cons

Pros Cons
MetaTrader 5 platformUnverified ASIC and FSA regulation
Copy tradingInactivity/currency conversion fees charged
Zero commissionNo services in certain areas
No deposit/withdrawal feesLimited info on payment methods
Low minimum deposit
Segregated accounts
Educational resources offered
Live chat support

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 CountryRegulatorCurrent StatusRegulated EntityLicense TypeLicense No.
Australia
ASICUnverifiedINGOT AU PTY LTDMarket Maker (MM)000428015
Seychelles
FSAUnverifiedINGOT SC LTDRetail Forex LicenseSD117
Unverified ASIC license
Unverified FSA license

What Can I Trade on INGOT?

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

Tradable Instruments Supported
Forex
Commodities
Metals
Energies
Indices
Stocks
ETFs
Cryptocurrencies
Bonds
Options
Mutual Funds
What Can I Trade on INGOT?

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:

Account TypeAccount CurrencyMinimum DepositEUR/USD Spread CommissionAvailable CFD Products
EVOEUR & USD$10From 0.7 pips0Major & Minor Forex Pairs | Metals (Spot & Futures) | Indices (Spot & Futures) | Energies (Spot & Futures) | UK and EU Stocks | US Stocks and ETFs
Standard$100From 1.2 pips0Major, Minor, Exotic Forex Pairs | Metals (Spot & Futures) | Indices (Spot & Futures) | Energies (Spot & Futures) | Agricultural Softs | Agricultural Grains | UK and EU Stocks | US Stocks and ETFs
Account comparison

Leverage

INGOT offers different leverage levels for different products:

Asset ClassMaximum Leverage
Gold 400x
FX majors
FX minors
Crude oil
Brent oil
Silver 300x
Major stocks50x

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

Leverage

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.

Trading PlatformSupported Available Devices Suitable for
MT5WebExperienced traders
Copy TraderWebAll traders
INGOT AppComing soonMobile phones/
MT4/Beginners
Trading Platform

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.

Keywords

  • 2-5 years
  • Suspicious Regulatory License
  • Self-developed
  • Suspicious Scope of Business
  • High potential risk

Wiki Q&A

Is INGOT a reliable or highly suspicious trading platform?

INGOT KE LTD. presents a high-risk profile, primarily due to its lack of verified, mainstream regulatory oversight for retail client protection. According to WikiFX data, the broker operates with a score of 1.50 and is registered in Kenya with 2-5 years of operational history.

16h
United States

What regulatory licenses does INGOT hold?

INGOT currently operates without any verified, active retail forex trading licenses from major regulatory authorities. While the broker lists licenses from ASIC in Australia (428015) and the FSA in Seychelles (SD117), both are marked as 'Unverified' and do not provide credible regulatory oversight for retail traders.

16h
United States

When was INGOT established?

INGOT KE LTD. has been in operation for an estimated 2 to 5 years, as per WikiFX assessment. The broker is registered in Kenya.

16h
United States

What are the most common and reputable forex regulatory authorities?

Common forex regulatory authorities include the Financial Conduct Authority (FCA) in the United Kingdom, the Australian Securities and Investments Commission (ASIC), the Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC) in the United States, the Cyprus Securities and Exchange Commission (CySEC), and the Monetary Authority of Singapore (MAS). These regulatory authorities usually maintain relatively high regulatory standards, and brokers regulated by them generally have higher compliance levels. You can check broker ranking lists under different regulators on the WikiFX platform, such as brokers regulated by FCA, ASIC, and CySEC, so as to compare brokers under different regulatory backgrounds more clearly and make safer choices.

15h
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What is WikiFX, and how does it help investors?

WikiFX is a third-party platform that provides forex broker information inquiry and risk alerts. This type of platform mainly integrates brokers' regulatory information, user feedback, and historical records, and conducts comprehensive evaluation through a multi-dimensional model to help investors quickly understand the broker's basic situation and potential risks. By using such tools, investors can conduct preliminary screening before choosing a broker, thereby reducing decision-making risks caused by information asymmetry.

15h
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.

15h
United States

What factors should I consider when choosing a safe forex broker?

When choosing a safe broker, investors should focus on key factors such as regulatory qualifications, fund security, and trading transparency. In general, priority should be given to platforms regulated by major regulatory authorities, such as the Financial Conduct Authority, the U.S. Securities and Exchange Commission, and the Australian Securities and Investments Commission. At the same time, attention should also be paid to: whether client funds are kept in segregated accounts, whether the fee structure is transparent, and whether there are many negative complaints or withdrawal problems. By combining WikiFX ratings and user feedback, investors can evaluate broker risks more comprehensively.

15h
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.

15h
United States
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