Score
IGM Forex
Cyprus|5-10 years| https://igmfx.com
Website
Rating Index
Contact
Licenses
Licensed Institution：IGM Forex Ltd
License No.：309/16
Single Core
1G
40G
1M*ADSL
- The number of this brokers's negative field survey reviews has reached 1. Please be aware of the risk and the potential scam!
Basic Information
Cyprus
Account Information
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Website
igmfx.com
Server Location
United States
Website Domain Name
igmfx.com
Website
WHOIS.GODADDY.COM
Company
GODADDY.COM, LLC
Domain Effective Date
2019-05-27
Server IP
199.250.205.238
Genealogy
VIP is not activated.Company Summary
| IGM Forex Review Summary | |
| Founded | 2019 |
| Registered Country/Region | Cyprus |
| Regulation | Regulated in CySEC |
| Market Instruments | Forex, Commodities, Indices, Stocks |
| Demo Account | ❌ |
| Leverage | Up to 1:400 |
| Spread | 0.03 pips for EUR/USD pair |
| Trading Platform | IGM FX Webtrader |
| Min Deposit | / |
| Customer Support | support@igmfx.com |
| +357 25 252 371 | |
IGM Forex Information
IGM Forex is a regulated broker under CySEC, offering access to over 160 CFDs on various instruments, including forex, commodities, indices, and stocks. The broker provides a user-friendly Webtrader platform, but it lacks downloadable trading software or a dedicated mobile app.
Pros and Cons
| Pros | Cons |
| Regulated by CySEC | No dedicated mobile app or downloadable software |
| Tight spreads starting from 0.03 pips | Limited information about educational resources |
| Leverage up to 1:400 | No demo account |
| Wide range of instruments |
Is IGM Forex Legit?
| Aspect | Details |
| Entity Name | IGM Forex Ltd |
| Regulatory Body | Cyprus Securities and Exchange Commission (CySEC) |
| License Type | Straight Through Processing (STP) |
| License Number | 309/16 |
| Effective Date | 2016/8/16 |
What Can I Trade on IGM Forex?
IGM Forex provides a wide selection of trading products, including over 160 CFDs across several asset classes.
| Tradable Instruments | Supported |
| Forex | ✔ |
| Commodities | ✔ |
| Cryptocurrency | ✔ |
| CFD | ✔ |
| Indexes | ✔ |
| Stock | ✔ |
| Forex | ✔ |
Account Types
IGM Forex provides two account types , including retail trading accounts and professional trading accounts.
Retail Trading Accounts
| Feature | Classic | Silver | Gold | VIP |
| Leverage (Up to) | 1:30 | 1:30 | 1:30 | 1:30 |
| Instruments | All assets | All assets | All assets | All assets |
| Margin Call | 100% | 100% | 100% | 100% |
| Stop Out | 50% | 50% | 50% | 50% |
| Minimum Volume/Trade | 0.01 | 0.01 | 0.01 | 0.01 |
| Maximum Volume/Trade | 50 | 50 | 50 | 50 |
| Support | Yes | Yes | Yes | Yes |
| Full Account Overview | - | - | Monthly | Weekly |
Professional Trading Accounts
| Feature | Classic | Silver | Gold | VIP |
| Leverage (Up to) | 1:400 | 1:400 | 1:400 | 1:400 |
| Instruments | All assets | All assets | All assets | All assets |
| Margin Call | 100% | 100% | 100% | 100% |
| Stop Out | 20% | 20% | 20% | 20% |
| Minimum Volume/Trade | 0.01 | 0.01 | 0.01 | 0.01 |
| Maximum Volume/Trade | 50 | 50 | 50 | 50 |
| Support | Yes | Yes | Yes | Yes |
| Full Account Overview | - | - | Monthly | Weekly |
Leverage
IGM Forex allows Retail Accounts to leverage 1:30 and Professional Accounts 1:400. This lets traders hold larger positions with a lower starting investment, increasing profit possibilities. Higher leverage increases the possibility of large losses and rewards. Traders should utilize leverage carefully and manage risk to reduce risks.
IGM Forex Fees
IGM Forex's fees are tight compared to industry standards. The broker advertises zero commission, tight spreads starting from 0.03 pips, making IGM Forex one of the tightest brokers.
Trading Platform
| Trading Platform | Supported | Available Devices | Suitable for what kind of traders |
| IGM FX Webtrader | ✔ | Desktop, Mobile (Web-based) | Beginners to advanced traders who value portability and ease of use |
| Cross-Platform Trading | ✔ | All Devices with a Browser | Traders seeking access to accounts on multiple devices with no downloads |
Keywords
- 5-10 years
- Regulated in Cyprus
- Straight Through Processing(STP)
- Suspicious Scope of Business
- High potential risk
Review 8
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dorothy
Hong Kong
Can’t log in let alone the withdrawal. Besides, the customer service is out of contact
Exposure
2020-10-16
FX2624850351
Hong Kong
If I profit, I’m unable to withdraw, isn’t it? The customer service is disabled. Does this platform abscond?
Exposure
2020-09-04
FX2624850351
United States
It has been ten days since I withdrew and I can’t receive my money. The customer service is disabled. Does IGM Forex abscond?
Exposure
2020-09-02
小波段
Hong Kong
They repeated their answer, making me speechless. It might be a fraud platform which was opened domestically.
Exposure
2020-08-27
小波段
Hong Kong
The withdrawal has been delayed several times. I am in deep sorrow and can’t trust others.
Exposure
2020-08-27
小波段
Hong Kong
I was unable to withdraw money because of the system’s problems. How can I use the platform?
Exposure
2020-08-21
：╭⌒红宝石
India
IGM Forex, a CYSEC-regulated broker is a reliable broker, and I have been a big fan of it. starting with my first trading here two years, I was provided professional trading services, fair and transparent fees. Despite switching many brokers, I love IGM the most.
Neutral
2023-02-24
FTS sys17343073191
Indonesia
Overall, IGM Forex is a responsible forex broker concerning its procedure of withdrawals. Although it takes a bi longer sometimes, but there is no additional delay other than ten ways for funds to appear in my bank account.
Neutral
2022-12-08