Losses can exceed deposits

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Ingot Brokers Review

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Ingot Brokers is a forex trading services broker. They give traders access to a wide variety of instruments in several markets like currencies, commodities and shares. For traders interested in cryptocurrencies like Bitcoin, Ingot Brokers offers cryptocurrency CFDs.

Pros

  • Segregates client funds
  • Established in 2004
  • Regulated by ASIC
  • Min. deposit from $1,000

Cons

To open a live account, you’ll need a minimum deposit of at least $1,000. Alternatively, Ingot Brokers offers a demo account that you can use to practice and familiarise yourself with their platform.

Regulated by ASIC (AFSL #428015). Ingot Brokers puts all client funds in a segregated bank account and uses tier-1 banks for this. Ingot Brokers has been established since 2004, and have a head office in .

Before we dive into some of the more detailed aspects of Ingot Brokers ’s spreads, fees, platforms and trading features, you may want to open Ingot Brokers ’s website in a new tab by clicking the button below in order to see the latest information directly from Ingot Brokers.

Visit Ingot Brokers

Full disclosure: We may receive a commission if you sign up with a broker using one of our links.

Ingot Brokers screenshot Open a demo account

Losses can exceed deposits

What are Ingot Brokers's spreads & fees?

Like most brokers, Ingot Brokers takes a fee from the spread, which is the difference between the buy and sell price of an instrument.

The spreads displayed below are based on the minimum spreads listed on Ingot Brokers’s website. The colour bars show how competitive Ingot Brokers' spreads are in comparison to other popular brokers featured on BrokerNotes.

Ingot Brokers
EUR/USD (Average: 0.7 pips) Not offered 0.7 pips 0.1 pips
GBP/USD (Average: 1.1 pips) Not offered 1.7 pips 0.1 pips
USD/JPY (Average: 1.1 pips) Not offered 0.6 pips 0.1 pips
AUD/USD (Average: 0.8 pips) Not offered 0.6 pips 0.2 pips
USD/CHF (Average: 2.3 pips) Not offered 2.3 pips 0.2 pips
USD/CAD (Average: 2.9 pips) Not offered 0.5 pips 0.3 pips
NZD/USD (Average: 3.6 pips) Not offered 2.8 pips 0.3 pips
EUR/GBP (Average: 2.4 pips) Not offered 0.5 pips 0.1 pips

Spreads are dynamic and are for informational purposes only.

As you can see, Ingot Brokers’s minimum spread for trading EUR/USD is pips - which is relatively low compared to average EUR/USD spread of 0.70 pips. Below is a breakdown of how much it would cost you to trade one lot of EUR/USD with Ingot Brokers vs. similar brokers.

See all Spreads

How much does Ingot Brokers charge to trade 1 lot of EUR/USD?

If you were to buy one standard lot of EUR/USD (100k units) with Ingot Brokers at an exchange rate of 1.1719 and then sell it the next day at the same price you would likely pay $13.2. Here’s a rough breakdown of the fees and how this compares against XTB & AvaTrade .

Ingot Brokers XTB AvaTrade
Spread from: $ 6.00 $ 2.00 $ 7.00
Commission: $0.00 $0.00 $0.00
Total cost of a 100k trade: $ 6.00 $ 2.00 $ 7.00
$4 less $1 more
Visit Ingot Brokers Visit XTB Visit AvaTrade

All fees/prices are for informational purposes and are subject to change.

General Fees

  • Ingot Brokers doesn’t charge inactivity fees*
  • Ingot Brokers doesn’t charge withdrawal fees*

Commissions

  • Ingot Brokers doesn’t charge commission on CFD shares

What can you trade with Ingot Brokers?

Ingot Brokers offers over 262 different instruments to trade, including over 34 currency pairs. We’ve summarised all of the different types of instruments offered by Ingot Brokers below, along with the instruments offered by XTB and AvaTrade for comparison.

FX / Currencies Ingot Brokers XTB AvaTrade
# of forex pairs offered 34 48 59
Major forex pairs Yes Yes Yes
Minor forex pairs Yes Yes Yes
Exotic forex pairs Yes Yes Yes
Cryptocurrencies Yes Yes Yes
Commodity CFDs Ingot Brokers XTB AvaTrade
# of commodities offered 0 21 16
Metals Yes Yes Yes
Energies Yes Yes Yes
Agricultural Yes Yes Yes
Index & Stock CFDs Ingot Brokers XTB AvaTrade
# of Stocks offered 200 1606 99
UK Shares Yes Yes Yes
US Shares Yes Yes Yes
German Shares No Yes Yes
Japanese Shares No Yes Yes
See Ingot Brokers's InstrumentsSee XTB's InstrumentsSee AvaTrade's Instruments

What’s the Ingot Brokers trading experience like?

1) Platforms and apps

Ingot Brokers offers the popular MT4 forex trading platform. To see a list of the top MT4 brokers, see our comparison of MT4 brokers.

Ingot Brokers Screenshot

Ingot Brokers also offer mobile apps for Android and iOS, making it easier to keep an eye on and execute your trades while you are on the move.

See Ingot Brokers 's platforms

Trading Features:

  • Allows hedging
  • Low min deposit

Accounts offered:

  • Demo account
  • Standard account
  • Managed account

Still not sure?

Open a practice account & learn to trade

2) Executing Trades

Ingot Brokers allows you to execute a minimum trade of 0.01 Lot. This may vary depending on the account you open. The maximum trade requirements vary depending on the trader and the instrument.

As a market maker, Ingot Brokers may have lower entry requirements compared to an ECN broker who benefits from a higher volume of trades and typically has larger capital and minimum trade requirements. Market makers typically have a lower minimum deposit, smaller minimum trade requirements and no commission on trades.

As with most brokers, margin requirements do vary depending on the trader, accounts and instruments. You can see the latest margin requirements on their website.

Finally, we’ve listed some of the popular funding methods that Ingot Brokers offers its traders on the right.

Funding methods:

  • Credit cards
  • Bank Transfer
  • Skrill
  • Payoneer
  • Neteller

3) Client support

Ingot Brokers support a wide range of languages including English, Arabic, and Chinese.

4) What you’ll need to open an account with Ingot Brokers

As Ingot Brokers is regulated by ASIC , every new client must pass a few basic compliance checks to ensure that you understand the risks of trading and are allowed to trade. When you open an account, you’ll likely be asked for the following, so it’s good to have these handy:

  • A scanned colour copy of your passport, driving license or national ID
  • A utility bill or bank statement from the past three months showing your address

You’ll also need to answer a few basic compliance questions to confirm how much trading experience you have, so it’s best to put aside at least 10 minutes or so to complete the account opening process.

While you might be able to explore Ingot Brokers’s platform straight away, it’s important to note that you won’t be able to make any trades until you pass compliance, which can take up to several days, depending on your situation.

To start the process of opening an account with Ingot Brokers you can visit their website here.

CFDs are leveraged products and can result in the loss of your capital. All trading involves risk. Only risk capital you’re prepared to lose. Past performance does not guarantee future results.
This post is for educational purposes and should not be considered as investment advice. All information collected from https://www.ingotbrokers.com.au/ on 01/12/2019.