INGOT Review (2025): Is it Safe or a Scam?

WikiFX Score:2.56 / 10

Verdict:High Risk / Not Recommended

When evaluating a forex broker, the most critical metric is consistency between their regulatory claims and the actual experience of their users. In the case of INGOT (also known as INGOT BROKERS), the data presents a disturbing contradiction. While the platform claims to hold regulatory licenses, its extremely low WikiFX Score of 2.56 acts as an immediate red flag.

For 2025, a score below 3.0 typically indicates serious operational risks, ranging from withdrawal failures to potential regulatory non-compliance. Despite being established in 2013, the recent influx of user complaints suggests that this brokers safety nets may be failing the very traders they are meant to protect. If you are considering depositing funds with INGOT, read this safety review first to understand the hidden risks.

Regulatory Status and License Check

Determining whether INGOT is legitimate requires looking beyond the logos on their website and analyzing the specific regulatory entities governing their operations. According to the WikiFX database, INGOT operates under a dual-structure, which often complicates client protection.

The Regulatory Mix

INGOT lists regulation by two primary bodies:

1. ASIC (Australia): They hold a license from the Australian Securities and Investments Commission (License No. 428015). Typically, ASIC is a Tier-1 regulator offering high security.
2. FSA (Seychelles): They are also regulated by the Seychelles Financial Services Authority (License No. SD117). This is an offshore regulator.

The Offshore Loophole

The existence of an ASIC license usually boosts a broker's score significantly. However, the fact that INGOTs score remains a dismal 2.56 suggests that the majority of international clients are likely being onboarded through the Seychelles (offshore) entity, not the Australian one.

Offshore regulations like the Seychelles FSA are far more lenient than ASIC. They often lack requirements for negative balance protection or government-backed compensation schemes. If you are a trader outside of Australia, your account is likely held in the Seychelles jurisdiction, meaning you do not have the safety net of Australian law. This regulatory arbitrage explains how a broker can theoretically be “regulated” yet still subject its clients to high-risk behaviors and withdrawal denials.

Negative Regulatory Disclosure

Further damaging their credibility is a disclosure from the Indonesian Commodity Futures Trading Regulatory Agency (BAPPEBTI). The data reveals that INGOT was included in a list of blocked domains for operating illegally in Indonesia. The regulator flagged them as an “illegal commodity futures trading website,” associating the domain with gambling disguised as trading. This government-level blacklisting reinforces the warning signals emitted by their low WikiFX score.

Exposure: What Users Are Saying

The most damning evidence against INGOT comes directly from the WikiFX Exposure Center. Within just three months, the platform has received 13 severe complaints. When a broker delays withdrawals or deletes profits, it is often the final warning sign before a collapse or an exit scam.

Recent “Profit Deletion” Tactics (2025)

Multiple users from different regions have reported an identical pattern of behavior: the broker allows deposits, but refuses withdrawals once a profit is made.

• Case from Kenya (November 2025): A trader reported being scammed out of over $3,000. After depositing $600 and trading successfully, the withdrawal was kept pending for a month. Eventually, INGOT reportedly rejected the withdrawal and confiscated all profits. The user stated, “They didn't even refund my initial deposit.”

Case from Pakistan (November 2025): Another user detailed a “profit wiping” incident. After turning a $250 deposit into a $3,200 profit, the broker allegedly refused to release the funds, returning only $179. The user described it as a “Scam broker” that “fixes the balance” when a withdrawal is requested.

Long-Term Issues

The complaints are not limited to new incidents. A trader from China reported that similar issues occurred as far back as 2018, with over $5,000 stuck in the platform for years. The user warned that the broker is now “re-recruiting” despite these unresolved legacy debts. This pattern indicates that liquidity issues or unethical practices may be systemic rather than temporary technical glitches.

Trading Conditions: Fees and Leverage

While safety is the priority, the trading conditions offered by INGOT also reveal high-risk characteristics often associated with “B-Book” or market maker brokers who profit from client losses.

Excessive Leverage: 1:5000

INGOT offers leverage as high as 1:5000 on Forex Majors and Gold.

• Why this is dangerous: Standard regulated brokers (like those strictly adhering to ASIC or FCA domestic rules) are usually capped at 1:30 leverage to protect retail clients.
• The Trap: Leverage of 1:5000 is astronomically high. It implies that a market move of just 0.02% against your position could wipe out your entire account instantly. This level of leverage is often used by offshore entities to encourage high-risk gambling behavior, leading to rapid account liquidation. This aligns with the complaint from a New Zealand user in 2024, who expressed anxiety over these “boiler room” tactics and excessive risk exposure.

Platform and Spreads

INGOT provides access to MT4 and MT5, which are industry-standard platforms. They offer accounts with spreads starting from 0.7 pips (EVO Account) to 1.2 pips (Standard Account). While the software itself is legitimate, the presence of MT5 cannot protect a trader if the broker on the backend refuses to process withdrawals. The tool is effective, but the operator controlling it appears untrustworthy based on user feedback.

Conclusion: Is INGOT Recommended?

Based on the synthesis of regulatory loopholes, government blacklisting, and verified user complaints, INGOT is NOT recommended.

The evidence is clear:

1. Low Score: A score of 2.56 places it in the danger zone.
2. Withdrawal Blocks: Recent 2025 reports confirm investors are unable to access their funds or profits.
3. Regulatory Gaps: The Indonesian government has flagged them, and offshore protections are insufficient for global traders.

Safety Verdict:BLACKLISTED / AVOID

Do not be swayed by high leverage offers or claims of Australian regulation unless you are physically in Australia and confirmed to be under that specific entity. For international traders, the risks of total capital loss are currently too high.

To check the live regulatory status of any broker and view the most recent user exposures, always search for the broker name on the WikiFX App before making a deposit.