INGOT

INGOT is a retail forex and CFD broker established in Kenya in March 2023. It operates under the official domain ingotbrokersafrica.com and is regulated by the Capital Markets Authority (CMA) of Kenya under license No. 173. The broker aims to provide accessible trading services to a broad audience, particularly in Africa, with low minimum deposits and a variety of account types.

The broker claims to offer over 1,000 trading instruments across seven asset classes, including forex, commodities, indices, stocks, and ETFs. INGOT supports both demo and live trading accounts, with leverage options up to 1:400. The company is headquartered in Westlands, Nairobi, and has a presence on social media platforms such as Facebook, Instagram, LinkedIn, and YouTube.

INGOT KE Ltd. is licensed by the Capital Markets Authority of Kenya as a Non-Dealing Online Foreign Exchange Broker. This regulatory status provides a degree of oversight within Kenya, though it is not equivalent to top-tier regulation from authorities like the FCA or ASIC. The broker states that client funds are held in segregated accounts to protect against insolvency.

It is worth noting that some industry databases list additional licences from ASIC (Australia) and FSA (Seychelles), but these are not confirmed on the broker's official website or in the web search results obtained. Traders should verify regulatory details directly with the broker.

INGOT offers three live account tiers: CENTS, ECN, and PRO. The CENTS account is designed for traders with smaller capital, requiring a minimum deposit of $30 and offering leverage up to 1:400. The ECN account caters to more experienced traders, with a $100 minimum deposit and leverage capped at 1:200. The PRO account sits in between, with a $50 minimum deposit and leverage up to 1:400.

All accounts are advertised with zero commissions and no deposit or withdrawal fees. A demo account is also available for practice. The broker's website highlights access to over 1,000 instruments, though specific spreads, platforms, and execution models are not detailed in the available public information.

INGOT positions itself as a broker suitable for both novice and experienced traders, primarily targeting clients in Kenya and other African markets. The low minimum deposits and high leverage options make it accessible for traders with limited capital. The inclusion of a CENTS account suggests an appeal to those who wish to trade with minimal risk exposure.

However, the broker's regulatory framework and relatively short operating history may be a consideration for traders accustomed to stricter oversight. The risk warning on the website indicates that 85% of retail accounts lose money, which is in line with industry norms for leveraged products.

According to the broker's marketing materials, INGOT provides access to forex, commodities, indices, stocks, and ETFs. The exact number of instruments is stated as over 1,000 across seven asset classes. No specific trading platform (e.g., MetaTrader 4/5, cTrader) is named on the website or in the search results.

Funding methods and withdrawal processes are not explicitly described in the available public information. The website includes portals for individual, corporate, and agent account opening, suggesting a multi-client approach. The broker also promotes free educational seminars, such as the 'PIP Nation Seminar', indicating a focus on trader education.

INGOT KE Ltd. was incorporated in Kenya on March 17, 2023, with registration number PVT-JZUG9YA5. The company is part of a broader INGOT group that also includes INGOT Global Ltd and INGOT Financial Brokerage Ltd., as evidenced by links on the client portal. The registered address is Unit C, 4th Floor, Delta Chambers, Westlands, Nairobi.

Being a relatively new entrant, INGOT is still building its reputation and client base. Its social media presence and seminar activities suggest an active marketing effort. The broker's risk score from independent analysts is 43/100 (Guarded), reflecting a neutral to cautious assessment.