IG Markets Ltd Review: Falsified Market Data Cheats Millions

We’ve noticed a recent explosion of newly created patterns for fraudulent websites. This would-be firm is another fake company that has built its own website using it.

Don’t be fooled – even though the whole thing seems simple, it acts as a front for a dangerous group of criminals. Keep your money safe by reading our IG Markets Ltd review.

Nameless Swindlers

The IG Markets Ltd broker claims to be located in Cyprus, a country where brokerage services are strictly regulated and supervised. First off, this firm is not found on the Cyprus online business register.

This means that the address listed on the site doesn’t belong to this suspicious entity. It is wise to avoid companies that omit important data related to incorporation and regulation entirely.

What FMA Has to Say

Even if the firm was indeed registered in Cyprus, it still wouldn’t be regulated enough to provide services to investors from New Zealand. The lack of an operational license has attracted the attention of the jurisdictional financial authority, FMA. After a thorough investigation, this organization has published a document listing over 90 entities operating unlawfully, along with the IG Markets Ltd scam.

These faux Forex dealers cannot guarantee you the safety of funds, secure transactions and transparent trading conditions, so please choose a better regulated firm instead.

Short-lived Scam Platform

The scammers claim their company is from 2011. The WhoIs database, however, tells us that igmarketsfx.com did not exist before January 2025. As such, you won’t find any IG Markets Ltd reviews.

Many of the victims were traders from these areas:

• United Arab Emirates
• Argentina
• Bulgaria
• Cyprus
• Canada

The site’s domain was rented for only a single year, which tells us that the swindlers did not plan on sticking around for too long. These short-lived cash grabs are a staple of other schemes like Spiral Capital. In case you’ve invested with either of these groups, consider contacting our recovery experts.

Trading Platforms 

Deception is this faux broker’s main weapon, it seems. For the IG Markets Ltd app, you will find MT5 being advertised. Alas, when you want to get the download link, you will not be redirected to a reliable source but to a third-party host.

The situation is the same whether you try to download the desktop or mobile app. Running potentially malicious programs from unknown sources could cause serious damage to your machine and your budget.

No Account Diversity

You’d expect an online brokerage to offer a selection of accounts. After all, some retailers prefer spread-based trading, while others find more profit with commission-based accounts. On this site you don’t get to choose anything.

Although one of the ads on the site mentioned a demo account, after looking for a while we couldn’t find one. Instead, we were stuck with what should have been a live trading account. Unfortunately, the account doesn’t actually work unless you verify it first. This ultimately meant no access to any significant trading amenities, despite a successful IG Markets Ltd login.

Unverifiable Instruments

In order to mimic their legitimate competition, online hoax sites always pretend to offer some financial instruments. This is done in order to keep the victims complacent and spending. It also allows the swindlers to ask for more investments further down the line.

The website of this fake broker does advertise some instruments, but none of them can be verified. You see, without access to the IG Markets Ltd platform, ads on the site can easily be disregarded as false advertisements.

Nevertheless, here’s what’s mentioned:

• Forex – EUR/USD, AUD/CAD, NOK/SEK
• Cryptocurrencies – BTC, LTC, ETH
• Stocks – AAPL, IBM, TSLA
• Futures – NMH25, GBLX, CBOT

Spreads, Leverage and Other Costs

It is as if proper legal documentation is forbidden on these cheap, fraudulent web presentations. Scarce white papers don’t reveal anything of value when it comes to costs. The platform is not explicit about any IG Markets Ltd trading parameters, either. 

In the FAQs, we found that spreads are just defined as “floating” and they’re supposed to start at 0 pips. This piece of information is entirely useless. On the other hand, leverage is 1:500, which is yet another sign that the portal operates without legal supervision.

Withdrawal Options are Hidden

As we’ve already clarified, the platform omits all relevant details about monetary transactions. Therefore, we attempted to gather some additional information regarding payouts directly from the user panel. 

Unfortunately, all our attempts resulted in failure because we were unable to even start the protocol without having completed the KYC first. It is extremely dangerous to share your sensitive personal information with unknown portals, so please don’t even consider going on with that.

How to Get in Touch?

For a company allegedly committed to tending to their clients’ needs, the lack of communication channels is more than disappointing. Besides an email address, there is no other way to reach out to the support office. 

Consequently, clients facing issues with the platform’s performance, transfers or other aspects of trading can’t turn to anyone for help. As we’ve already clarified, the firm’s postal address is false, so it wouldn’t be surprising if the email was also not functional.

Got Scammed? We Can Help With Recovery!

Con artists are constantly evolving their fraudulent strategies in order to keep the upper hand on their marks. Fortunately, there are ways to distinguish a legitimate firm like Goat Funded Trader from illegal companies.

This self-proclaimed broker is a dangerous online group that simply steals any invested money. Don’t let your hard work go to waste—book a free consultation with our experts and start a recovery procedure today! Our live chat is available around the clock for your convenience.

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