Finance IG Review: Instilling Trust Through Fake Credentials

Pretending you’re somebody you aren’t isn’t exactly an honest business practice. Still, numerous people on the web will do just that if they can get some of that cash from your pocket!

Spotting a dangerous clone company is difficult if you don’t know what to look for. Our Finance IG review will show you the telltale signs that make them easy to detect.

 Is Finance IG Legit?

Instead of as a firm, this forex service is referred to as a “website” in the Terms and Conditions. The site’s footer contains a couple of addresses for what should be office branches, but mentions no parent company names.

There are two mentioned addresses, one in the UK and another in Canada. The Canadian one does not match any entries in the MRAS. Additionally, the company claims to have licenses issued by non-existing authorities.

Looking at the UK Companies House, we found at least nine different entities named IG FINANCE, with name suffixes ranging from 1 to 9. All of the firms are listed as providing “other business support activities,” with no mention of brokerage. The one with a matching address has been dissolved and was never licensed by the FCA.

Regulator Warnings Piling Up

Numerous financial regulators have already discovered this illicit entity. Spain’s CNMV was the first agency to post a public warning about this unlicensed broker. Other authorities forwarded this warning from the EU, including CONSOB, AFM, FI, A–TVP and IOSCO. The fact that the broker has been blacklisted in so many jurisdictions is solid evidence of a scam.

We remind our readers never to invest with unregulated companies. To obtain a license in the EU, a broker must provide negative balance protection, segregated bank accounts and compensation funds. By trading with an unlicensed entity, you forfeit all of these essential client safeguards.

Deception Behind Clone Companies

To better understand the mechanism at work, we can compare a boiler room to a scam call center. Boiler room agents working with the Finance IG trading scam impersonate employees of a popular brokerage firm. Their agents constantly dial random phone numbers and search for new marks. Should anyone show any interest, agents start pitching a get-rich-scheme.

Through careful manipulation, these miscreants are able to extort a mind-boggling amount of money from their victims over time. If you believe you’ve invested in one such con, contact our legal team as soon as possible.

Beware of Follow-Up Fraud

Examining the Finance IG reviews on popular rating sites, we’ve noticed an alarming trend. Those we found on the Reviews.io platform nearly all advertise fake recovery rooms.

You can spot the offending comments with relative ease, as they show the service names with strange spelling and capitalisation. Cons do this to avoid automatic advertisement detection, and fool the review systems.

Site Age Betrays The Con

Con artists will always claim that their brokerage has been in service for a decent number of years. This is something Imperialfinance is guilty of as well. Looking at the finance-ig.com domain history though, we can see that it did not exist prior to May 2024. Majority of the victims are people from these regions:

• Spain
• Australia
• Canada
• Germany

Don’t hesitate to contact our experts if you need help with getting your stolen money back.

Tiered Trading Accounts

There is no real choice of Finance IG login accounts, other than several different tiers. These exist only so the agents can return and ask for more funding. To justify the expense, they will cite one benefit or the other.

This is a pretty common practice with cybercriminals, and is something Apexnumber does as well. The prices are quite the ripoff:

• Standard – $250
• Bronze – $1,000
• Silver – $5,000
• Gold – $25,000
• Platinum – $100,000
• VIP – $250,000

Subpar Trading App

With this so-called broker, you get a basic WebTrader as the only platform. It’s not very feature-rich, as it only supports a basic TradingView chart with added buy/sell orders.

Cybercriminals pick their software based on two criteria. It has to be easily manipulated to show profits and losses on demand, and simple enough so that the traders don’t know when they’re being cheated.

Selection of Products

The illusion wouldn’t be complete if the clients weren’t able to trade anything. Of course, in this case, the trading is only smoke and mirrors since the company doesn’t have a license to access the markets.

Here are the asset groups we found in the app:

• Forex – EUR/USD, AUD/NZD, GBP/CHF
• Cryptocurrencies – BTC, ETH, LTC, XRP
• Stocks – BASF, J&J, Pepsico
• Commodities – Sugar, Cocoa, Platinum
• Indices – Dow Jones, Nasdaq, Nikkei

Semi-Transparent Pricing

Finance IG broker shares trading information only half transparently, with the charlatans purposely only discussing those aspects that are not related to the costs. For instance, we found that the leverage ranges from 1:10 to 1:100, and spreads from 1.8 pips to 0.1 pips depending on account tier.

The firm does not mention any fees or swaps, though. The commission is charged only on some of the most expensive account tiers, and is fixed at $4 per side. This completely undermines any low spread benefit.

Contradicting Payment Information

We’ve noticed that the company website offers many more payment channels than the client dashboard actually supports. This sort of false advertising is nothing unexpected with crooked platforms, though.

We found these options in the user area:

• Bank Cards – Visa, MasterCard
• Crypto wallet – USDT TRC20

Finance IG withdrawal allegedly supports several different cryptocurrencies and a bank wire option as well. The problem is – there is no payout policy, and the dashboard doesn’t feature automatic processing. This means that the conners can, and will, simply deny your request and leave you hanging.

Don’t Let Scammers Win! Contact Our Team!

After conducting a pretty thorough analysis, we can finally answer the question “Is Finance IG legit” with a resounding no. The company is not licensed, their trading environment is just for show, and there are no withdrawals.

If you are one of the thousands this dangerous clone firm has already deceived, contact our legal team. With our help, you may start a recovery procedure and get your money back. You can reach us at any time through live chat.

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