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INGOT Brokers AU Review 2021

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INGOT Brokers AU Main Features
☑️
Regulations
ASIC (Australia)
️🗺
Supported Languages
English, Spanish, German, French, Arabic, Turkish
💰
Products
Crypto, Currencies, Commodities, CFDs, Indices, ETFs, Stocks, Futures
️💵
Min Deposit
$100
💹
Max Leverage
1:30 (ASIC)
🖥
Trading Desk Type
ECN, STP
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INGOT Brokers AU Full Review

“INGOT Brokers (Australia) Pty Ltd is an Australian investment firm authorised and regulated by the Australian Securities and Investments Commission (ASIC). The broker provides the ability to trade on 1,000+ financial CFD instruments covering Forex, Stocks, Agriculture, Energies, Metals, Indices, ETFs, and Cryptocurrencies from the popular MetaTrader 4 and MetaTrader 5 platforms, and also web trading.

INGOT Brokers is an award-winning broker founded in 2006. It is a brand name for INGOT Brokers (Australia) Pty Ltd, an Australian investment firm authorised and is regulated by the Australian Securities and Investments Commission (ASIC). The broker provides the ability to trade on 1,000+ financial CFD instruments covering Forex, Stocks, Agriculture, Energies, Metals, Indices, ETFs, and Cryptocurrencies from the popular MetaTrader 4 and MetaTrader 5 platforms, and also web trading.

Clients can choose from three main account types called Prime-AU, Professional-AU, and ECN-AU. Prime and ECN accounts are commission-based and have the lowest spreads whereas the Professional account is commission-free but with slightly larger spreads. Other differences include minimum deposits and available products. Demo and swap-free accounts are also available.

Market research is provided by a Blog, Market News, and a Corporate Events and Index Dividends Calendar which are all regularly updated; however, the education material is limited. There is also multilingual 24/5 customer support via email, phone, and live chat including a contact form.

Pros: Cons:
  • ASIC regulated.
  • 1,000+ financial instruments.
  • Commission-free trading available.
  • 24/5 multilingual customer support.
  • Limited educational material.

 

About the Author

Jitan Solanki
Author
Jitan is a currency trader and an accredited Market Technician with more than 15 years of experience working with fund managers and on several proprietary trading floors. He is regularly quoted in the financial media for his currency market insights and forecasts and is based in London.
Read More

Review Sections

INGOT Brokers Video Review

Investor Protection & Regulations

“INGOT Brokers is a brand name for INGOT Brokers (Australia) Pty Ltd, an Australian investment firm authorised and regulated by the Australian Securities and Investments Commission (ASIC).”

INGOT Brokers is a brand name for INGOT Brokers (Australia) Pty Ltd, an Australian investment firm authorised and regulated by the Australian Securities and Investments Commission (ASIC), as shown on the regulator’s register below:

The broker provides further security of client funds by following the below regulatory requirements by ASIC:

  • Holding Funds in a segregated account from company funds.
  • Negative balance protection policy.

Tradable Products

“INGOT Brokers offers clients the ability to trade on more than 1,000+ financial instruments covering eight asset classes – Forex, Stocks, Agriculture, Energies, Metals, Indices, ETFs, and Cryptocurrencies.”

INGOT Brokers offers clients the ability to trade on more than 1,000+ financial instruments covering eight asset classes – Forex, Stocks, Agriculture, Energies, Metals, Indices, ETFs, and Cryptocurrencies. Below is a list of just some of the available markets for trading:

Forex Commodities (Agriculture, Energies, Metals) ETFs
EURUSD Corn VanEck Vectors Gold Miners ETF
GBPUSD Wheat IShares Russell 1000 Value ETF
AUDUSD WTI Oil Direxion Daily Gold Miners Index Bear 3x Shares ETF
NZDJPY Gold Vanguard Value ETF
Shares Indices Cryptocurrencies
Netflix DAX 30 Bitcoin
Facebook S&P 500 Ethereum
Tesla Motors, Inc. Dow Jones 30 Litecoin
Alphabet Inc. FTSE 100 Ripple

* Details regarding the available assets are taken from the INGOT Brokers website and trading platform and are correct at the time of this review. You can find a more detailed list here.

Trading costs such as spreads and overnight funding (swap) rates vary depending on the entity, account type opened, and instrument being traded and are covered further down this review.

Account Opening

“INGOT Brokers offers clients three main account types called Prime-AU, Professional-AU and ECN-AU as well as a demo account.”

INGOT Brokers offers clients three main account types called Prime-AU, Professional-AU, and ECN-AU as well as a demo accounts. The table below shows a breakdown for each account and its features:

Prime-AU Professional-AU ECN-AU
Spreads from 0 pips 1 pip 0 pips
Leverage 1:30, 1:500* 1:30, 1:500* 1:30, 1:500*
Min. Deposit $25,000 $100 $100
Commissions $5.00 $0.00 $7.00
Hedging Allowed Yes Yes Yes
EA’s allowed Yes Yes Yes
Products Commodities, Stocks, Indices, ETFs, Forex, Cryptocurrencies Spot Metals, Spot Energies, Spot Indices, US CFDs, Crypto CFDs, Future Energies, Future Indices, Spot Forex Spot Metals, Spot Energies, Spot Indices, Crypto CFDs, Spot Forex

* For professional clients.

It should be noted that due to regulations INGOT Brokers Australia offers maximum leverage from 1:30 up to 1:500*.

* Maximum leverage of 1:30 for retail clients and 1:500 for professional clients.

Users can open a new account in just a few steps. After clicking the ‘Start Trading’ button on the broker’s homepage, users will be guided through the below steps:

  1. Register: Name, Email, phone, password, country of residence, and wallet currency.
  2. Personal details: Gender, date of birth, citizenship, address, and city.
  3. Client Eligibility: Various trading knowledge and experience-related questions.
  4. Documents: Submit proof of identity (passport or driving license) and proof of residence (utility bill or bank statement – not more than 6 months old).

The broker does not accept clients from Japan, the US, China, Korea, and Iran.

Deposit & Withdrawals Options

“INGOT Brokers offers a limited selection of fee-free payment methods that include bank wire and Poli Internet Banking.”

INGOT Brokers offers a limited selection of fee-free payment methods that include bank wire and Poli Internet Banking. The below tables shows the fees, minimums, maximums, and processing times for deposits and withdrawals:

Deposits Currency Fee Minimum Maximum Processing Time
Wire Transfer USD, EUR, AUD, GBP No Fees $ 100 No limit Upon receiving
Poli AUD No Fees $ 100 $ 19,999 Instantly
Withdrawals Currency Fee Minimum Maximum Processing Time
Wire Transfer USD, EUR, AUD, GBP No Fees $ 70 $ 1000000 1 – 5 Business Days

To deposit and withdraw funds users will need to enter the client portal area and click on ‘Funds Management.’

Web & Desktop Trading Platforms

“INGOT Brokers offers clients the ability to trade on two of the most globally popular trading platforms, MetaTrader 4, MetaTrader 5 and web trading. Both platforms are available for Windows desktop.”

INGOT Brokers offers clients the ability to trade on two of the most globally popular trading platforms, MetaTrader 4 and MetaTrader 5 and web trading. Both platforms are available for Windows desktop. The platform features are highlighted below:

INGOT Brokers MetaTrader 4

  • Advanced Charting.
  • Multiple asset classes.
  • Automated Trading.
  • Interactive Charts.

INGOT Brokers MetaTrader 5

  • 21 timeframes.
  • 6 order types.
  • One-click trading.
  • Advanced charting capability.

INGOT Brokers MetaTrader 5 Web

  • No download required.
  • Trade from any browser.
  • Access real-time quotes.
  • Trade directly from the chart.

A screenshot of the INGOT Brokers MetaTrader 5 platform is shown below and is covered in more detail in the video review:

Mobile Trading Platforms

“INGOT Brokers offers users the ability to access mobile trading on the go from the MetaTrader 4 and MetaTrader 5 mobile trading apps for Android and iOS systems.”

INGOT Brokers offers users the ability to access mobile trading on the go from the MetaTrader 4 and MetaTrader 5 mobile trading apps for Android and iOS systems. Both app download links can be found in the Google PlayStore or Apple AppStore.

The MetaTrader 5 mobile trading app provides a range of different features including:

  • Trade and manage your account on the go.
  • Simple and intuitive user interface.
  • Real-time quote streaming.
  • Charting and live trading.

The mobile trading app provided by INGOT Brokers is covered in more detail in the video review.

Trading Features

“INGOT Brokers does not provide any additional features from what is already available in the trading platforms offered. However, users can still access the MetaTrader Market place from the desktop platform for copy trading and algorithmic trading services.”

INGOT Brokers does not provide any additional features from what is already available in the trading platforms. However, users can still access the MetaTrader Marketplace from the desktop platform which provides users with the ability to download thousands of additional technical indicators and automated trading strategies.

Commissions & Spreads

“INGOT brokers offer a range of commission-free and commission-based account types but minimum spreads and commissions vary with each account.”

INGOT Brokers offers a range of commission-free and commission-based account types but minimum spreads and commissions vary with each account. The below table summarizes the commissions and spreads for each account type:

The below table summarizes the commissions and average spreads for each account type:

Prime-AU Professional-AU ECN-AU
Spreads from 0 pips 1 pip 0 pips
Commissions $5.00 $0.00 $7.00

Overnight funding or ‘swap’ fees are charged on positions that remain open overnight (22:00) GMT. If positions are being held over the weekend a three-day ‘swap’ charge will be charged on Wednesdays.

The broker also does not charge any inactivity account fees.

Bonus & Promotions

“In accordance with regulatory restrictions, the INGOT Brokers (Australia) Pty Ltd does not offer any bonuses or promotions.”

Customer Support

“INGOT Brokers offers multilingual 24/5 customer support via email, phone, and live chat. There is also a contact form on the broker’s (Contact Us) page.”

INGOT Brokers offers multilingual (English, Arabic, Turkish, French, German, Spanish) 24/5 customer support via email, phone, and live chat. There is also a contact form on the broker’s “Contact Us” page.

After logging into the live chat we were connected to an agent who replied to our message within 1 minute, as shown below:

Contact Information:

  • Address: Level 21, 60 Margaret Street, Sydney NSW 2000, Australia.
  • Email:
    • General Inquiries Email: info@ingotbrokers.com.au
    • Support Email: customerservice@ingotbrokers.com.au
  • Phone: +61 280466500
  • Social Media:

Research

“INGOT Brokers offers clients access to a Blog, Market News, and a Corporate Events and Index Dividends Calendar.”

INGOT Brokers offers clients access to a Blog, Market News, and a Corporate Events and Index Dividends Calendar. The blog contains multiple articles covering a range of topics from cryptocurrencies, stocks, commodities, and more. New articles are posted several times a month and the content is clear, detailed, and suitable for all types of traders.

The market news section is a stream of headline-driven news, generally covering important events from around the globe. Users can also take advantage of the Corporate Events and Index Dividends Calendar to keep up with current and future data releases.

Trader Education

“The broker currently offers limited educational material but there are some interesting topics covered in the Blog which some users may find beneficial.”

The broker currently offers limited educational material but there are some interesting topics covered in the Blog which some users may find beneficial. Some of the topics include:

  • 6 Steps to Trade Forex and other Financial Market Instruments.
  • What is Forex Trading?
  • 5 Terms Every Trader Should Know.
  • What is a Contract for Difference?
  • Why Diversification Matters for Your Portfolio?

Clients can also access additional trading tools such as the Trader’s Calculator and Currency Convertor through the client portal.

Trading Experience

“Overall, INGOT Brokers provides comprehensive product selection with over 1,000+ assets covering eight asset classes. Clients also have the option to choose from three accounts with commission-free or commission-based structures, and all markets can be accessed through the popular MetaTrader 4, MetaTrader 5 platforms and web trading.”

From our observations, INGOT Brokers provides the ability to trade on over 1,000+ financial instruments covering eight asset classes – Forex, Stocks, Agriculture, Energies, Metals, Indices, ETFs, and Cryptocurrencies, all through the popular MetaTrader 4 and MetaTrader 5 platforms and web trading for Windows desktop.

Clients have the option to choose from three account types called Prime-AU, Professional-AU, and ECN-AU. Prime and ECN are commission-based and have the lowest spreads whereas the Professional account is commission-free but with slightly larger spreads. All trading costs are fully transparent on the broker’s website.

However, the payment options and the educational materials available are limited. Deposits can only be made via bank transfer and Poli Internet Banking but are fee-free.

FAQ

Is INGOT Brokers regulated?

INGOT Brokers is a brand name for INGOT Brokers (Australia) Pty Ltd, an Australian investment firm authorised and regulated by the Australian Securities and Investments Commission (ASIC).

Where is INGOT Brokers based?

The office address is in Level 21, 60 Margaret Street, Sydney NSW 2000, Australia.

How does INGOT Brokers make money?

INGOT Brokers makes money mainly through commissions, spreads, and swaps on certain asset classes.

How do I deposit in INGOT Brokers’ account?

Funds can be deposited via bank transfer and Poli Internet Banking.

What is the minimum deposit for INGOT Brokers?

The minimum deposit is $100 to open an account.

How do I withdraw money from INGOT Brokers?

Withdrawals can be made from the client portal via bank transfer.

What is the max leverage in INGOT Brokers?

Maximum leverage of 1:30 for retail clients and 1:500 for professional clients

How do I open an account with INGOT Brokers?

An account can be opened at the click of a button on the INGOT Brokers website and can be done in just a few steps.

Does INGOT Brokers use MetaTrader?

Yes, MetaTrader 4, MetaTrader 5 and MetaTrader 5 Web.

Conclusion

“INGOT Brokers is a brand name for INGOT Brokers (Australia) Pty Ltd, an Australian investment firm authorised and regulated by the Australian Securities and Investments Commission (ASIC). The broker provides the ability to trade on over 1,000+ financial instruments covering eight asset classes – Forex, Stocks, Agriculture, Energies, Metals, Indices, ETFs, and Cryptocurrencies from the popular MetaTrader 4 and MetaTrader 5 platforms, as well as web trading.

INGOT Brokers is an award-winning broker founded in 2006. It is a brand name for INGOT Brokers (Australia) Pty Ltd, an Australian investment firm authorised and regulated by the Australian Securities and Investments Commission (ASIC). The broker provides the ability to trade on over 1,000+ financial instruments covering eight asset classes – Forex, Stocks, Agriculture, Energies, Metals, Indices, ETFs, and Cryptocurrencies from the popular MetaTrader 4 and MetaTrader 5 platforms, and web trading.

Clients can choose from three main account types – Prime-AU, Professional-AU, and ECN-AU. Prime and ECN are commission-based and have the lowest spreads whereas the Professional account is commission-free but with slightly larger spreads. Other differences include minimum deposits and available products. Demo and account is also available.

The broker offers two fee-free funding methods, bank transfer, and Poli Internet banking. Processing times are also quick and there are no inactivity account fees.

Further, market research includes a Blog, Market News, and a Corporate Events and Index Dividends Calendar which are all regularly updated; however, the education material is limited. There is also multilingual 24/5 customer support via email, phone, and live chat including a contact form on the broker’s “Contact Us” page.

  • ASIC regulated.
  • 1,000+ financial instruments.
  • Commission-free trading available.
  • 24/5 multilingual customer support.

* Maximum leverage of 1:30 for retail clients and 1:500 for professional clients

*It should be noted that due to regulations INGOT Brokers Australia offers maximum leverage from 1:30 up to 1:500.

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See INGOT Brokers AU Full Information
Broker General Information
Trading Features
Other Details
Headquarters Country
Australia
Foundation Year
2006
Regulations
ASIC (Australia)
Publicly Traded
No
Number Of Employees
50-100
Trading Desk Type
ECN, STP
Trading platforms
MT4, MT5, WebTrader
Restricted Countries
United States, China, Japan, North Korea, South Korea, Iran
Supported Languages
English, Spanish, German, French, Arabic, Turkish
Min Deposit
$100
Max Leverage
1:30 (ASIC)
Deposit Options
Wire Transfer, Poli
Withdrawal Options
Wire Transfer
Cryptocurrencies
Bitcoin Cash, Bitcoin, Litecoin, Ripple, Ethereum
Fixed Spreads
No
Commission On Trades
Yes
Products
Crypto, Currencies, Commodities, CFDs, Indices, ETFs, Stocks, Futures
Mini Account
Yes
Premium Account
Yes
Demo Account
Yes
Islamic Account
No
Segregated Account
Yes
Managed Account
No
Institutional Account
Yes
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