IGM Limited Review: Igmlimited.co a Scam Exposed by FCA

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IGM Limited Review
  • Regulation
  • Fund Safety
0.5

Summary

IGM Limited proclaims having offices in the UK. Therefore, we visited the Financial Conduct Authority (FCA) website to check the broker’s legitimacy. Sadly, the platform is under the blacklist.

IGM Limited presents itself as a top-notch trading company. They avail information indicating they are the best in the industry. However, the scheme does little to win investors’ trust. They are only using unethical marketing strategies. 

IGM Limited Review, IGM Limited Broker

The company provides a fake office address in the United Kingdom. Scammers are tactical and will never reveal their true identity to avoid being caught. There are contact details such as phone number and email address. 

Igmlimited.co Review 

Unfortunately, Ponzi schemes deactivate their phone number and refuse to respond to emails. They do not have sufficient funds to hire professional customer support. Therefore, they engage customers with their sales reps who are convincing and merciless when it comes to getting your cash. 

They become unfriendly and unethical once you realize you have been scammed. In this review, we shall discuss more red flags and reasons to avoid this platform. In the meantime, you can check out these genuine and trustworthy crypto companies with years of experience. 

IGM Limited Trading Conditions and Accounts 

IGM Limited offers a web-based trading interface. The platform lacks advanced features and is commonly used by offshore firms. This is because the software is prone to manipulation, unlike reputable platforms like the MetaTrader.

The company is allegedly trading forex, indices, stocks, cryptocurrency, and commodities. Another proof that they are not operating in the UK is that brokers operating in the region cannot trade crypto derivatives.

For the forex products investors can enjoy a spread of 3 pips. The limit is unprofitable and double the standard market. Their leverage cap is 1:200 while the Financial Conduct Authority only approves 1:30 cap.

Regulatory bodies set limitations on the market to protect investors against severe risk. The high trading leverage is only available for professional traders who must meet strict measures of high capital and experience. Offshore platforms deliberately lead their customers to severe terms for them to make losses.

Withdrawal and Deposits 

The entity allegedly accepts funds via bank transfer and cryptocurrency. These two methods are irreversible allowing the anonymous individual to retain clients’ cash. 

We also realize that the wire transfer is linked to an authorized financial service provider known as Quantum Corp Sp. There is a higher possibility of the company being owned by this illegitimate entity.

Investors can fund their accounts with a minimum deposit of €200. Do not waste your hard and money on a doomed entity. The withdrawal requirements are missing from the platform. You can expect unethical treatment from the offshore venture. Keep in mind that the entity lacks customer reviews. 

IGM Limited Regulation Status 

Before registering with any company ensure you do a thorough background check to determine whether the firm has a license. You can get the regulatory status information of any broker by visiting your local financial body database. Alternatively, if a platform claims to be operating legally in a particular area check the database of that region.

IGM Limited proclaims having offices in the UK. Therefore, we visited the Financial Conduct Authority (FCA) website to check the broker’s legitimacy. Sadly, the platform is under the blacklist.

Their terms and conditions do not hold any grounds since they do not indicate the jurisdictions the entity abides by. Various financial watchdogs set up a capital requirement for brokers. The amount is significantly high to eliminate any jokers from the market. Additionally, it shows an entity is committed and has adequate funds to run its operation.

Final Verdict

IGM Limited does not offer investors fund safety. Customers can easily use funds and personal data by engaging with the platform.

 To avoid this in any other shortcoming we recommend trading with some of the best cryptocurrency companies with a solid trading background.

 

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