Igfxmarket
Pros and Cons
Pros
- No regulatory oversight
- Diverse trading instruments: forex, stock indices, commodities
- Trading platforms: MT4 and MT5
- 24/7 customer support availability
- Demo account option for practice trading
Cons
- No regulatory oversight
- Limited trading instruments (no cryptocurrencies, bonds, options, ETFs, or mutual funds)
- Lack of detailed information on trading fees
- Unknown payment methods for deposits and withdrawals
- Potential risks associated with unregulated trading environment
Basic Information
User Reviews
Igfxmarket Overview
Igfxmarket is an unregulated financial brokerage firm that was founded in 2018 and is registered in the United States. Operating for approximately 1-2 years, this broker provides opportunities for trading in forex, stock indices, and commodities. Despite its offerings, it is important to note that Igfxmarket currently lacks valid regulatory oversight, which can be a significant factor for traders considering their options in the forex market.
Is Igfxmarket Safe? Regulation Analysis
Regulatory Information
| Regulatory Authority | Country/Region | Fund Protection Measures |
|---|---|---|
| No Regulation | United States | N/A |
Is Igfxmarket Regulated and How Are Client Funds Protected?
The broker Igfxmarket is not regulated by any recognized financial authority. This lack of regulatory oversight can pose significant risks for traders, as there are no established investor protection mechanisms in place. Clients may face higher potential for fraud and a lack of recourse in the event of disputes. It is crucial for potential clients to understand these risks when considering trading with an unregulated broker like Igfxmarket.
Trading Products and Services
What trading instruments does Igfxmarket offer?
| Asset Category | Available Products | Total Count (if available) |
|---|---|---|
| Forex | Major Pairs / Examples | Varies |
| Commodities | Gold, Oil | Varies |
| Indices | S&P 500, NASDAQ | Varies |
| Stocks | US, UK | Varies |
| Cryptocurrencies | BTC, ETH | N/A |
Igfxmarket provides a diverse range of trading tools across multiple asset categories, including forex, stock indices, and commodities. This broad selection caters to various trader profiles, from beginners to experienced professionals. With opportunities to trade major forex pairs, commodities like gold and oil, and popular indices, traders can develop flexible strategies and enhance their portfolios. The availability of multiple asset categories allows for effective diversification, catering to both short-term traders looking for market opportunities and long-term investors seeking stable growth. Overall, the diverse offerings at Igfxmarket support a wide range of trading styles and objectives.
Account Types and Trading Conditions
What Account Types and Fees Does Igfxmarket Offer?
| Account Type | Target User Group | Essential Characteristics | Applicability Notes |
|---|---|---|---|
| Standard Account | Beginners | Access to multiple trading instruments, user-friendly interface | Suitable for those starting with small capital |
| Professional Account | Experienced Traders | Higher leverage options, advanced trading tools | Requires proof of trading experience |
| Demo Account | All Traders | Practice trading without financial risk, access to virtual funds | Ideal for testing strategies and platform features |
Account Opening Process
To open an account with Igfxmarket, you must complete several steps. Initially, you will need to provide personal information, including your name, address, and contact details. Following this, you will need to submit employment and financial information, which helps the broker assess your trading experience and financial background. Identity verification is also required, where you must provide a government-issued ID and proof of address. After your identity is verified, you can start trading, and there may be options to upgrade to a professional account in the future if your trading needs change.
Trading Fees
| Product | Spread (pips) | Commission | Notes |
|---|---|---|---|
| Forex (Major Pairs) | Varies | $0 | Competitive spreads on major currency pairs |
| CFDs (Stock Indices) | Varies | $0 | Access to popular indices like S&P 500 and NASDAQ |
| Commodities (Gold, Oil) | Varies | $0 | Wide range of commodity trading options |
| Cryptocurrencies (BTC, ETH) | N/A | N/A | Not available for trading |
Other Fees
In addition to trading fees, you should be aware of other costs associated with using Igfxmarket. These may include deposit and withdrawal fees that can vary by payment method, inactivity fees that apply after a period of account dormancy, and potential platform usage fees for advanced trading tools. Overnight interest, also known as swap rates, may apply to positions held overnight, and currency conversion fees can be incurred if you trade in a currency different from your account currency.
Trading Platforms and Apps
What Trading Platforms and Apps Does Igfxmarket Offer for Traders?
| Platform | Device Support | Key Features | Additional Services |
|---|---|---|---|
| MT4 | Windows, macOS, iOS, Android | User-friendly interface, multiple order types, encryption for secure login | Demo account available |
| MT5 | Windows, macOS, iOS, Android | Advanced trading tools, market analysis, two-factor authentication | Demo account available |
| Web Version | Any device with a web browser | Access to trading from anywhere, symbol lookup, price alerts | N/A |
| Mobile App | iOS, Android | Convenient login, push notifications, real-time alerts | N/A |
Igfxmarket provides a selection of trading platforms tailored to different trader needs. MT4 is designed for beginners, offering an intuitive interface and essential trading functionalities. MT5 caters to experienced traders with its advanced features and tools for comprehensive market analysis. The web version allows trading from any device, ensuring flexibility, while the mobile app facilitates trading on the go with secure logins and real-time alerts. Overall, Igfxmarket supports efficient trading across multiple devices while emphasizing security and accessibility.
Deposit and Withdrawal
Deposit and Withdrawal Options
| Payment Method | Processing Time | Fees | Limits | Base Currency Options |
|---|---|---|---|---|
| Bank Transfer | 3–5 business days | No platform fee | Min $100, Max $10,000/day | USD |
| Credit/Debit Card | Instant | No platform fee | Min $50, Max $5,000/day | USD |
| E-wallet (e.g., PayPal) | Instant | 1.5% fee | Min $50, Max $10,000/day | USD |
Minimum Deposit
The minimum deposit requirement with Igfxmarket is $50 for credit/debit card and e-wallet transactions, while it is $100 for bank transfers. These amounts may vary depending on the account type and the payment method chosen by the client.
How to Withdraw
- Log into your Igfxmarket account.
- Navigate to the ‘Withdrawal’ section in your account dashboard.
- Select your preferred withdrawal method from the available options.
- Enter the amount you wish to withdraw, adhering to the limits specified.
- Confirm your withdrawal request and wait for processing.
- Monitor your account for updates on the status of your withdrawal.
Customer Support
Igfxmarket Customer Support Overview
Support Channels
Igfxmarket provides various support channels to assist its customers. You can reach their team via:
- Email: For inquiries and support, you can contact them at support@igfxmarket.com.
- Phone: You can call their customer support at +1 7097001560 for immediate assistance.
- Live Chat: Available on their website for quick help.
- Social Media: Follow them on their social media platforms for updates and support.
Service Availability
Igfxmarket offers customer support 24/7, ensuring that help is available whenever you need it. The support team is equipped to assist clients in multiple languages, although specific languages supported are not disclosed.
Frequently Asked Questions
No, Igfxmarket is an unregulated financial brokerage firm. It lacks valid regulatory oversight from any recognized financial authority, which poses potential risks for traders.
Igfxmarket offers trading in various instruments, including forex, stock indices, and commodities. However, it does not provide access to cryptocurrencies, bonds, options, ETFs, or mutual funds.
You can reach Igfxmarket’s customer support via email at support@igfxmarket.com, by phone at +1 7097001560, or through live chat available on their website. They provide support 24/7.
Igfxmarket accepts several deposit methods, including bank transfers, credit/debit cards, and e-wallets. Each method has different processing times and limits. The minimum deposit is $50 for credit/debit cards and e-wallets, and $100 for bank transfers.
Related Forex Brokers
Risk Disclosure
Trading forex/CFDs via brokers carries high risks, including potential total loss. For any data changes, please refer to the latest information on the brokers' official websites. Trade with caution and seek independent advice.