INGOT Review — Truth About the Broker

Would you like to get acquainted with a Forex/CFD broker that is doing everything possible to look like a genuinely licensed company that conducts business honestly with traders? In our ingot.io review, we present exactly such a project. However, an analysis of the information published on the official website convinced us that trading on this platform can end in nothing but a loss of funds, and investing money here means losing it forever. Have you become curious why we have formed such a low opinion of a firm that claims to operate under the supervision of one of the well-known regulators? Don’t want to become the next victim? Then the materials presented below are exactly for you.

Quick Overview

Domain: https://www.ingot.io/

Company Name: Ingot SC Ltd (INGOT)

Year Founded: 2025

Jurisdiction: Seychelles

Legal Status: FCA of Seychelles № SD117

Minimum Deposit: 10 USD

Leverage: 1:5000

Available Assets: Forex, CFDs on cryptocurrencies, commodities, stocks, indices, ETFs

Trading Platforms: MetaTrader 4/5, INGOT CopyTrader, INGOT Mobile Apps

Account Types: EVO, Standard

Deposit/Withdrawal Methods: Bank wire, Debit/Credit Cards, ePayments, Crypto

How to Register on the Website

We began our acquaintance with INGOT by attempting to create a trading account with the broker. This is not difficult to do. You only need to fill out a very simple registration form indicating:

• An email address.
• Country of residence and citizenship.
• Mobile phone number.
• A password for authorization.

In addition, it is mandatory to pass a CloudFlare anti-bot check. Please note that during registration the user is not offered to review any documents (not even the Terms & Conditions or the Privacy Policy) or to accept their provisions. In fact, the new client does not sign any agreement with the broker (the same applies to the other party). In this case, all documents posted on the company’s website are simply useless, more precisely, they are intended solely to inform traders and are not binding on either the firm or its client. Accordingly, all trading and non-trading operations are carried out without any legal justification, on a purely voluntary basis. Naturally, in such a situation, neither party can make any claims. We strongly doubt that the Seychelles regulator allows this kind of relationship between a platform and a trader.

Note! During registration, it is possible to choose the company’s division with which the client intends to work. In the list, in addition to the Seychelles entity, companies from Kenya and Jordan are mentioned. The territorial sections of the website also include an Australian broker licensed by ASIC; however, it is not possible to register with INGOT AU PTY Ltd, instead of a registration form, a login form opens.

After completing and submitting the initial form, the broker requires the new client to verify the specified mobile phone number. For this purpose, a verification code is allegedly sent to the number. However, we were never able to complete this step: we did not receive a single message. Most likely, anyone wishing to trade on this platform will have to contact customer support to complete the registration process.

This technique is not new, many semi-legal and outright fraudulent projects resort to it in order to filter out clients who are not ready to please the owners with substantial deposits. It seemed strange to us that a company claiming registration and licenses in several countries would not shy away from such practices. From our point of view, even if this is not a red flag, it is certainly a serious drawback to the firm’s reputation.

INGOT Trading Instruments and Platforms

The broker promises clients access to 1,000+ trading instruments across seven asset classes:

• 50+ Forex pairs.
• 500+ CFDs on popular stocks from the US, European, and other markets.
• CFDs on the most well-known exchange-traded funds (ETFs), including inverse and leveraged ones.
• Around a dozen CFDs on major stock indices, such as the S&P 500, NASDAQ 100, etc.
• CFDs on cryptocurrencies (only the most well-known coins and tokens are selected; all are traded exclusively in pairs with USD).
• CFDs on various commodity market assets, including metals, agricultural products, and energy resources.

Overall, INGOT’s offering looks fairly standard. What sets it apart from similar platforms is mainly the availability of ETF contracts. At the same time, the broker’s asset list does not include many interesting altcoins, memecoins, and other crypto assets that can generate significant profits. However, this is quite understandable: adding such instruments requires frequent (almost daily) revisions of the base offering and resolving issues related to obtaining price quotes, etc. Nevertheless, even without these assets, the company has not stayed away from the trendy crypto trading segment and has fully covered the needs of over 90% of traders who trade crypto outside of cryptocurrency exchanges.

As for trading terminals, the project’s owners have fully taken advantage of the benefits that come with the status of a legally operating company. They have purchased software from one of the best developers in the industry — MetaQuotes — and offer clients the MetaTrader 4 and MetaTrader 5 platforms. The advantages and disadvantages of each are well known to traders and require no additional description.

For copy trading, the broker has developed its own platform, INGOT CopyTrader. Frankly, we did not find any undeniable advantages in it. Moreover, its use raises questions: MetaTrader already offers a fairly convenient set of functions for those who want to copy other traders’ deals. Why the company does not use these capabilities, effectively forcing clients to work in several different programs (for example, for manual trading and copy trading), is difficult for us to understand.

The same can be said about the mobile terminals offered by the firm. What exactly did not satisfy the project’s creators about MetaQuotes’ solutions? We have no answer to this question. Just as we have no kind words for the proprietary applications, since, for example, we never found an Android version, all links published on the website lead exclusively to the App Store.

Account Types Offered

INGOT offers clients two types of trading accounts: EVO and Standard. The differences between them are minimal.

In fact, the entire difference between the two pricing plans comes down to the following:

• Minimum deposit amount: $10 for EVO and $100 for Standard.
• Spread size: 0.7 and 1.2 pips respectively.
• Asset list: Standard account holders additionally gain access to agricultural commodities.

Otherwise, there are no differences between the accounts:

• Maximum leverage for both is 1:5000 (when trading Forex pairs and gold).
• Minimum trade size is 0.01 standard lots, the maximum is 25 lots.
• Margin Call / Stop Out levels are 100% / 25%.
• Islamic (swap-free) accounts are available.
• The lists of additional options are identical.

We would like to say a few words about leverage. The broker’s offer to trade with 1:5000 leverage is not a concern for high client profitability, but rather an attempt to appropriate the client’s funds in the very first trades. If a trader opens a position using the entire deposit, they can double the balance with a price movement of just 2 pips — and wipe it out completely if the price moves the same 2 pips in the opposite direction. At the same time, market noise even on the most liquid (least volatile) EUR/USD pair exceeds this allowable range several times over.

Accordingly, the probability of losing all invested funds in the very first trade is close to 100%. Such a level of risk is unacceptable even for participants with vast experience or professional traders. This situation can only suit the broker itself, since the client’s losses become its profit. Of course, there is nothing illegal in such trading conditions, as the Seychelles FSA does not limit the maximum leverage. However, in our view, only scammers who have bothered to obtain a license can offer such conditions.

Deposits and Withdrawals

We can judge the methods and conditions of non-trading operations only by the information provided on the official INGOT website. How account funding and withdrawals actually take place in practice remains unknown to us, as we never received the verification code sent to the phone number specified in the registration form.

On the Funding & Withdrawals page, the company lists several dozen options for conducting monetary transactions. These include bank transfers, direct payments via bank cards, transactions through intermediary payment systems, and cryptocurrency operations. The company assures that it does not charge fees for deposits or withdrawals. However, we found no information on who covers the fees charged by payment providers. Most likely, these costs are borne by the user.

The time required for funds to be credited depends on the payment method used. At the same time, the platform’s documents state that the procedure takes no more than five business days. Unfortunately, it is not specified what exactly this timeframe includes, especially for withdrawals, whether it refers only to processing the request and sending the funds, or whether it also includes the time required for the payment system to complete the transaction.

We also noted another feature of monetary operations: cryptocurrency payments are very widely represented at INGOT. We are well aware of the specifics of blockchain transactions, one of the main features of which is anonymity. This is often presented as a major advantage; however, it directly conflicts with KYC and AML requirements imposed by regulators. How the broker resolves this contradiction has not been disclosed either.

INGOT Legal Status: Legitimate or Not?

We have already mentioned that the platform is represented in several countries and claims to operate on the basis of licenses issued by local regulators. We also noted that the Australian section of the website no longer accepts new registrations, even though the company that, according to the developers, represents it to clients holds a valid ASIC license.

The authorization documents from Kenya and Jordan are of far less interest to us than the license issued by the Seychelles FSA. The reason is quite simple: more than 90% of traders have never even heard of the regulators in those countries, whereas the Seychelles regulator does have a certain reputation, several widely known companies that have proven themselves positively in the industry operate under its supervision.

A check of the Seychelles regulator’s license register showed that INGOT SC LTD is indeed authorized as a Securities Dealer. The company owns the trade names INGOT and INGOT Brokers (under which the Australian company provided its services), as well as the domain names ingot.io and ingotbrokers.com (the latter also associated with the Australian entity).

This is sufficient to conclude that the broker (at least its Seychelles division) is officially registered in this jurisdiction and operates under a license issued by the local regulator. However, the presence of such a document does not make the provision of services legal in every country worldwide. On this basis, the company may serve only clients in jurisdictions where regulation by local authorities is not required. In others, for example, in Europe and the United Kingdom, the platform’s activities fall outside the legal framework.

Company History

The company’s history is far more complicated. The official INGOT website does not disclose the date of its establishment. In open sources where such information can be obtained, the data are highly contradictory. For example, in the description written by the broker for Trustpilot, it is stated that the company has been operating since 2006. At the same time, ASIC registers contain information on the registration of the Australian company INGOT AU PTY LTD in August 2012 and the issuance of its AFSL license in January 2013.

Data from the WHOIS service also did not help clarify the issue. According to its information, the operating domain ingot.io was registered on September 25, 2019.

However, Web Archive snapshots show that any noticeable activity on this domain appeared only in 2025. The registration date of the second domain, ingotbrokers.com, is much earlier — February 2007. At the same time, it is impossible to view its history in the Web Archive or similar services: instead of snapshots, the user receives a message such as “Sorry. This URL has been excluded from the Wayback Machine.” Why this was necessary for its owners (exclusion from the archive is carried out only at their request) remains unknown to us.

In addition, Trustpilot has also merged two company profiles. As of now, only comments related to ingot.io can be found there.

Ingot.io Online Reputation

We have already mentioned reviews about the broker’s activities on Trustpilot above, but have not yet discussed them in detail. The situation here turns out to be quite interesting. In total, 47 users have shared their opinions about the company, and the first INGOT review appeared in August 2022.

It should be noted that client opinions are divided: 62% rate the company positively, 6% neutrally, while the remaining 32% express sharply negative views. Positive reviews, quite typically, look commissioned: most of their authors limit themselves to just a few words, such as “Great customer support!”, “Swift withdrawals and good customer care support”, “Great app, user friendly. Love it”, etc. (we are showing the full texts of these posts).

Among the negative opinions, there are similarly short ones, but most describe the company’s problems in much greater detail. The main complaint of dissatisfied clients is the inability to withdraw funds. At first, the platform may ignore withdrawal requests for weeks, and then the money may simply disappear. After that, support tells traders that their accounts have allegedly been hacked, and in some cases stops responding altogether.

Interestingly, users of reputable industry portals such as WikiFX report the same problems. Out of 25 reviews about INGOT on this platform, 13 are negative, and all of them are supported by screenshots of personal accounts and correspondence with customer support (so we have no reason to doubt their authenticity). The company’s score is fairly high (7.4 out of 10) due to its licensed status and the use of high-quality trading software. However, the administration warns that the broker’s clients hold it in low regard, and therefore caution is advised when dealing with it.

The Final Take

Our INGOT review is complete, and it is time to sum up the results. Let us highlight the key points. The broker is officially registered in the Seychelles and provides its core services under a license issued by the local regulator; however, this does not mean that it operates legally in every country worldwide. The trading conditions published on the website are far from impressive — first of all, due to the extremely high leverage and, consequently, the risks it creates for clients. At the same time, there is virtually no information about the company’s history. The review situation is also far from smooth: positive comments clearly look commissioned, while there are many negative ones describing problems with withdrawals. We would not hesitate to refuse any cooperation with this platform, and we hope that its potential clients will take our opinion into account.

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