IGM FX

IGM Forex Ltd (trading as IGM FX) is a Cyprus-registered CFD broker established on November 19, 2019. The company is headquartered at 1 Agias Zonis, No. 504, Block B, 5th Floor, Nikolaou Pentadromos Center Building, 3026 Limassol, Cyprus. Despite being relatively new to the industry, the broker aims to provide access to over 160 tradable assets through its proprietary platform.

The broker markets itself as a regulated and secure option for traders interested in forex, stocks, indices, and commodities. It offers both Professional and Retail account types, with leverage options varying by jurisdiction.

IGM FX is licensed and regulated by the Cyprus Securities and Exchange Commission (CySEC) under license number 309/16. This regulation subjects the broker to the oversight of a European financial authority, which imposes certain client protection measures such as negative balance protection and segregation of client funds for Retail clients.

However, the broker's CySEC license applies primarily to its European operations, and traders outside the region may not benefit from the same protections. The firm is also registered with the Companies Registry in Cyprus, further confirming its legal status.

The broker offers eight distinct account tiers divided into Professional and Retail categories. Professional accounts include Classic, Silver, Gold, and VIP, all with a maximum leverage of 1:400. Retail accounts mirror these tiers but are limited to 1:30 leverage, in compliance with ESMA regulations.

Minimum deposit requirements and spread details are not publicly disclosed by the broker, which may be a drawback for traders who prefer transparent cost structures. The availability of high leverage on Professional accounts may appeal to experienced traders, but also carries elevated risk.

IGM FX claims to offer over 160 tradable instruments covering major asset classes: forex, stocks, indices, and commodities. This range is comparable to many mid-tier CFD brokers, providing some diversification opportunity within a single platform.

The broker does not specify the exact list of instruments or the trading platforms supported beyond its proprietary system. For traders who rely on third-party platforms like MetaTrader, this may be a limitation.

IGM FX has a Trustpilot rating of 3.2 out of 5 from 72 reviews, indicating a mix of positive and negative experiences. Positive reviewers often praise the helpfulness of account managers and ease of use, while negative reviews highlight aggressive sales tactics, data sharing, and difficulties with withdrawals.

The broker has also been flagged by industry databases for having two clone/impersonator sites, which may contribute to confusion and potential fraud risk. Overall, while the broker is regulated, the high volume of complaints suggests that traders should exercise caution.