IGF Investment – Is It a Safe Broker?

| Publish date: 01/13/2020 (Last updated: January 13, 2020 09:08 PM)
Share

Stop! It’s a Scam! Your money is not safe if you are trading with this unregulated, off-shore broker.

IGF Investment - DO NOT TRADE WITH THIS PROVIDER
2.5/10
$!00
Minimum Deposit
X

Updated 2020

IGF Investment offers its clients 3 different account types for trading:

  • Mini Account: This account has a minimum deposit requirement of $500.
  • Classic Account: Which requires traders to make a minimum deposit of $5,000.
  • Premium Account: Where you need to make an initial deposit of $20,000 to begin trading.

There is no information given for each of these accounts’ trading conditions, so traders who register with this broker will be going in to trade with no idea about leverages, spreads or any other trading costs.

Try these regulated brokers if you want to start trading cryptocurrencies

AvaTrade - Regulated broker
Trade with an award-winning broker

The company was created as a combined effort of financial professionals and experts in web-commerce with the goal of perfecting the online experience for retail traders.

Website URL: https://www.igfinvestment.com/

Founded: 2018

Regulations: Unregulated

Languages: English, Spanish

Deposit Methods: MasterCard, Bank Wire, Visa

Minimum Deposit: $500

Free Demo Account: No

Number of Assets: N/A

Types of Assets: 50+ Currency Pairs, Shares, Indices, Cryptocurrencies, Commodities

Trading Accounts and Conditions

IGF Investment offers its clients 3 different account types for trading:

  • Mini Account: This account has a minimum deposit requirement of $500.
  • Classic Account: Which requires traders to make a minimum deposit of $5,000.
  • Premium Account: Where you need to make an initial deposit of $20,000 to begin trading.

There is no information given for each of these accounts’ trading conditions, so traders who register with this broker will be going in to trade with no idea about leverages, spreads or any other trading costs.

IGF Investment – Advantages

We always try and present a balanced review, with both advantages as well as disadvantages of every broker. Therefore, here are some of the good things we discovered about IGF Investment:

  • Support for MT4 Trading Platform

We consider providing traders with the MetaTrader4 trading platform a huge positive. This platform is one of the most popular in the world because of how easy it is to use, both for novice traders as well as professionals.

It offers traders close to 100 market indicators, advanced charting tools, automated trading bots that can be customized to suit your needs, and other features that make trading much easier.

However, while it’s great that IGF Investment provides this platform to its traders, it doesn’t do so under its own name. Instead, the MT4 platform is actually provided by a third-party company called Trading Technologies Ltd.

IGF Investment – Disadvantages

Besides the one partially good thing that IGF Investment has to offer, we could not find anything else that was positive about the broker. The list of disadvantages, on the other hand, are long and are strong warnings for traders to stay away from this broker:

  • Conflicting Corporate Information

IGF Investment is owned and operated by the company called IGF Investment Limited, which is registered in the Marshall Islands. However, another section of the website states that the broker is actually owned by a company called Granit Oak Worldwide Limited.

The fact that there is conflicting information about something as basic as the broker’s ownership does not inspire trust, and raises a huge red flag about the broker.

AvaTrade
$100
Minimum Deposit

The company was created as a combined effort of financial professionals and experts in web-commerce with the goal of perfecting the online experience for retail traders.

Plus500
$100
Minimum Deposit

76.4% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money

 

  • Lack of Regulation & Regulator Warnings

Based on the information we have about IGF Investment, we can say for certain that this broker is not regulated by any financial authority. Firstly, the Marshall Islands’ government has clearly stated that it does not have oversight for Forex brokers.

Added to that, this broker does not have any authorization to trade in any of the strongly regulated markets. We know this because of the warnings issued by two different financial regulators in the European Union.

Both the CONSOB in Italy and the CNMV in Spain have issued warnings to their traders, asking them to avoid this broker as it is operating illegally in their countries.

  • Links to Other Scammers

The Spanish financial watchdog also warned that this broker had links to other scam websites such as himilceinvest.com.

With so many regulatory red flags, it is best to stay away from IGF Investment.

  • Account Management Offers

IGF Investment also offers to manage its clients’ accounts. However, there is an issue with this offer. IGF Investment, like all other Forex brokers, is a market maker, which means it makes its profits from traders’ losses.

So, a market maker asking to manage your account is a little suspicious, don’t you think?

  • Trading Bonus Offers

IGF Investment also offers its clients trading bonuses. This is a great way to attract unsuspecting clients and divest them of their money. Trading bonuses come with provisos that are almost impossible to achieve, such as ridiculously high trading volumes.

And if you don’t meet those conditions, brokers use that as an excuse to cancel your withdrawal requests. So basically, it’s a great way for unscrupulous brokers to make money and for you to end up losing your investment.

This is the reason why trading bonuses are prohibited in most strongly regulated markets. Therefore, if IGF Investment has trading bonuses to offer, it’s a clear sign that this broker must be out to scam you for your money.

  • Strange Charges and Withdrawal Process

IGF Investment states that it will charge its customer withdrawal fees, but does not mention the amount. So, you don’t know how much you are going to be charged every time you wish to withdraw funds from your account.

Furthermore, this broker also states that a withdrawal request takes 5 days to process. With regulated brokers, you should get your money 24 hours after you submitted the request.

In addition to that, the broker also has a dormancy fee. If your account has been inactive for a mere 30 days, they the broker will impose a $36 per month tax on your account. Legitimate brokers charge a nominal dormancy fee only if an account has been inactive for more than 12 months.

  • High Minimum Deposit Requirement

IGF Investment has a minimum deposit requirement of $500, which is two times higher than the industry average.

  • No Demo Account

This broker also does not offer its customers a demo account in which they can test the trading conditions offered and check the performance of the platform.

Conclusion

As you can see, the list of disadvantages is long, while this broker has one single – partial – advantage. With so many red flags, we would strongly recommend to all traders to stay away from this broker and deal only with legitimate and regulated brokers.

IGF Investment

2.5

User Experience

2.8/10

Payment Options

2.4/10

Security

2.6/10

Support

2.2/10

Reputation

2.5/10

Pros

  • Support for MT4 Trading Platform

Cons

  • Conflicting Corporate Information
  • Regulatory Warnings
  • Offers for Account Management
  • Strange Charges and Withdrawal Process
  • High Minimum Deposit Requirement

Do not trade with unregulated brokers that will steal your funds - try these regulated brokers:

AvaTrade
$100
Minimum Deposit

The company was created as a combined effort of financial professionals and experts in web-commerce with the goal of perfecting the online experience for retail traders.

Plus500
$100
Minimum Deposit

76.4% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money

eToro
$200
Minimum Deposit

eToro is a multi-asset platform which offers CFD and non CFD products. 66% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

Share

Related Posts

SwissKapitalInvest – Is it Safe or a...
Website URL:  https://swisskapitalinvest.com/ Founded: N/A Regulations: Unregulated Languages: English,…
MarketsCap Review: Is this Broker Safe?
Website URL: https://www.marketscap.com/ Founded: 2019 Regulations: No Languages: English,…
Trade99 – Is it Safe or Is...
Website URL: https://www.trade99.com/ Founded: N/A Regulations: Unregulated Languages: English…

Leave a Comment