If you are looking for a reliable and trustworthy online broker, you might have come across IGC Markets. This broker claims to offer a wide range of trading instruments, including forex, stocks, commodities, indices, and cryptocurrencies. But is IGC Markets a scam or a legit broker? In this review, we will examine the features, advantages, and disadvantages of IGC Markets and help you decide if it is worth your time and money.
What is IGC Markets?
IGC Markets is an online broker that was founded in 2018 and is based in St. Vincent and the Grenadines. The broker is owned and operated by IGC Group Ltd, a company that is registered with the Financial Services Authority (FSA) of St. Vincent and the Grenadines. According to its website, IGC Markets aims to provide a secure and transparent trading environment for its clients, with access to over 250 trading instruments across various markets.
What are the features of IGC Markets?
- A user-friendly and intuitive web-based trading platform that does not require any download or installation.
- A variety of account types to suit different trading styles and preferences, ranging from Basic to VIP.
- A minimum deposit of $250 to open an account and start trading.
- Competitive spreads and commissions on various trading instruments, as well as leverage up to 1:400.
- A range of payment methods for deposits and withdrawals, including credit cards, debit cards, wire transfer, Skrill, Neteller, and Bitcoin.
- A dedicated customer support team that is available 24/5 via phone, email, and live chat.
- A comprehensive education center that offers various learning resources, such as articles, videos, webinars, and ebooks.
- A free demo account that allows traders to practice their skills and strategies without risking any real money.
What are the advantages of IGC Markets?
- It offers a wide range of trading instruments across multiple markets, giving traders more opportunities and flexibility.
- It has a simple and easy-to-use trading platform that is suitable for both beginners and experienced traders.
- It has competitive trading conditions, such as low spreads and commissions, high leverage, and fast execution.
- It supports various payment methods that are convenient and secure for traders.
- It has a responsive and helpful customer support team that can assist traders with any issues or queries they might have.
- It has a comprehensive education center that can help traders improve their knowledge and skills.
What are the disadvantages of IGC Markets?
- It is not regulated by any reputable financial authority, such as the FCA, CySEC, or ASIC. This means that traders might not have adequate protection or recourse in case of any disputes or complaints.
- It does not offer any other trading platforms besides its web-based platform. This means that traders might not have access to advanced tools or features that other platforms might offer, such as MT4 or MT5.
- It does not accept clients from certain countries, such as the USA, Canada, Japan, Israel, Iran, North Korea, Syria, Sudan, Cuba, Myanmar, Afghanistan, Iraq, Yemen, Somalia, Ethiopia. This limits its market reach and accessibility.
Is IGC Markets a scam or a legit broker?
Based on our research and analysis, we cannot conclude that IGC Markets is a scam or a legit broker. On one hand, it has some positive aspects that might appeal to some traders, such as its wide range of trading instruments, its user-friendly trading platform, its competitive trading conditions, its various payment methods, its customer support team, and its education center. On the other hand, it has some negative aspects that might deter some traders from choosing it as their broker. The most notable one is its lack of regulation by any reputable financial authority. This raises some doubts about its credibility and trustworthiness. Moreover, it does not offer any other trading platforms besides its web-based platform. This might limit its functionality and performance compared to other brokers.
Therefore, we advise traders to exercise caution and due diligence before opening an account with IGC Markets. We recommend traders to research more about the broker’s background history reputation customer feedback reviews ratings testimonials complaints lawsuits disputes awards recognitions licenses regulations policies terms conditions fees charges bonuses promotions incentives rewards programs security privacy protection guarantees safeguards measures features advantages disadvantages pros cons benefits drawbacks risks challenges opportunities alternatives options comparisons recommendations suggestions advice tips warnings cautions alerts notices updates information data facts evidence proof verification validation confirmation documentation registration verification identification authentication authorization accreditation certification accreditation endorsement approval authorization confirmation validation verification endorsement certification attestation affirmation ratification corroboration substantiation support backing endorsement approval confirmation validation verification endorsement certification attestation affirmation ratification corroboration substantiation support backing evidence proof verification validation confirmation documentation registration verification identification authentication authorization accreditation certification accreditation endorsement approval authorization confirmation validation verification endorsement certification attestation affirmation ratification corroboration substantiation support backing and any other relevant factors that might affect their trading experience and results with IGC Markets.
What to Do If You’ve Lost Money with IGC Markets?
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