Fake IG

Fake IG is a forex and CFD broker that claims to be based in the United Kingdom. According to its registration records, the company was founded on 28 November 2022 and lists its registered address as Floor 1, Office 25, 22 Market Square, London, E14 6BU. The broker operates the domain igmmarketstrading.com.

FXCanary's database categorises Fake IG as a retail forex and CFD broker, purporting to offer leveraged trading on currency pairs and other instruments. However, independent public information about the broker's actual operations and client services is extremely limited. This lack of transparency is a significant cautionary factor for any trader considering engagement with this entity.

Fake IG claims to be regulated by the Financial Conduct Authority (FCA) in the United Kingdom. The licence type listed is a 'Forex Execution License (STP)', which would typically allow the broker to execute client orders on a straight-through processing basis. However, the status of this licence is recorded as blank in our regulatory database, meaning its current authorisation status is unconfirmed.

Without a clear regulatory status, clients have no assurance of regulatory oversight or protection. The FCA is a respected regulator, but traders should verify directly with the FCA register whether Fake IG is currently authorised. The absence of a confirmed active licence, combined with a high scam risk score, underscores the need for extreme caution.

Based solely on the known facts, no specific information is available regarding the range of trading instruments, the trading platforms offered, or the account types provided by Fake IG. The broker's website may detail such offerings, but we have not independently verified its content due to limited web confidence.

Traders are advised that any claims about product offerings should be thoroughly investigated. In the absence of transparent, verifiable information from the broker, it is prudent to assume that the full range of services may not be as advertised.

No details are available about deposit methods, withdrawal procedures, or account currencies for Fake IG. The broker's website might list payment options, but we have not accessed or verified this information.

For any prospective client, understanding the funding process is critical. The lack of publicly available data on this front is a red flag, as reputable brokers typically provide clear information on how to add and withdraw funds.

FXCanary's scam risk score for Fake IG is 85 out of 100, categorised as 'Severe'. This high score is driven by the significant uncertainties surrounding the broker's regulatory status, its recent establishment (2022), and the absence of independent user reviews or verifiable operational history.

Combined with the suggestive name 'Fake IG', which may imply an intent to impersonate the well-known broker IG Group, this broker presents a very high level of risk. Retail traders are strongly advised to avoid engaging with any broker that cannot provide clear, verifiable regulatory authorisation and transparent business practices.