IGC Markets Review: Transparency, Regulation, and Trustworthiness
While reviewing IGC Markets broker, we’ve noticed that the company itself says it’s unregulated yet working towards European Tier1 regulation. On one side, we do appreciate honesty, while on the other side, we’re highly concerned about what this means for your money.
Read our IGC Markets review to get a clear picture of who the broker is.
|Regulated by:||Unlicensed brokerage|
|Blacklisted as a Scam by:||FMA|
|Owned by:||MaxxMedia LLC|
|Headquarters Country:||Saint Vincent and the Grenadines|
|Supported Platforms:||Web Trader|
|Types of Assets:||FX, commodities, indices, shares, cryptocurrencies|
|Free Demo Account:||No|
|Accepts US clients:||No|
IGC Markets Regulations and Security
IGC Markets is owned by MaxxMedia LLC from Saint Vincent and the Grenadines. It’s a fresh new brokerage established this year. However, this offshore country has no regulator, but instead, it’s directing brokers to opt for a license in the country of service. And allegedly, that’s what IGC Markets did. Since we’ve found the broker to be blacklisted in Europe, we highly suspect there will be any regulation any time soon.
IGC Markets Warnings From Financial Regulators
As previously mentioned, IGC Markets has been blacklisted in Europe by the Austrian FMA. According to reports, this fraudulent firm uses Bitcoin Loophole and Elite Trader campaigns to lure potential clients and refuses to make any withdrawals once you submit a request. Based on many complaints, FMA issued an official warning stating that anyone who has been scammed by IGC Markets should report it immediately.
Fund Withdrawal Issues With IGC Markets
As per IGC Markets reviews, clients are massively complaining about withdrawal issues. And that’s not unexpected since the company is offshore and operates without an official regulator.
Once you want to invest, the broker’s employees will be more than happy to assist and guide you through the procedure. At first, you might even make some small profit, just enough for the account manager to gain your trust. Yet, the problem occurs when you ask for a payout.
Suddenly, this same account manager will not be available, and the company’s support will ignore your calls. If something similar has happened to you, let us know before it’s too late.
Traders About IGC Markets Scam
Despite the broker’s website looking fancy and trustworthy, traders have an entirely different impression after actually being involved in the IGC Markets scam. Firstly, there’s no minimum deposit. All you know is that you can start with less than $10,000 (should you say thank you for the obvious?!). In addition, leverage is unregulated and goes up to 1:500, while the platform is a proprietary web trader with lots of lags.
To sum it up, all traders have to say is – run as far as you can!
How To Know If You Have Been Scammed Online?
We can say one thing is a certain fraud sign – the broker offers bonuses on the initial deposit. However, these bonuses have their own terms and conditions, and nobody from the company will bother to tell you before it’s too late. The biggest issue is the clause “No withdrawals are permissible until a trading volume of 1 Lot of the bonus is achieved.” It practically means you will not be able to get your funds back whenever you want, and you’ll have to do the math and figure out what 1 Lot of the bonus is.
Also, if you experience withdrawal issues, login problems, or similar, know that you have been scammed.
Scammed by IGC Markets? – Tell Us Your Story
Nowadays, scammers have sophisticated ways to convince you to invest. And you shouldn’t feel bad if you fall for it. However, you need to file a dispute and request a chargeback to get your money back.
But What Is A Chargeback?
A chargeback is a way for your bank to reverse the fraudulent transaction. For further details, contact us via online chat and tell us your story. We will book a free consultation with a chargeback specialist to help you file a dispute. Don’t wait, get back what’s rightfully yours!
What Is IGC Markets?
This is an online trading brokerage without regulation based offshore.
Is IGC Markets A Scam Broker?
Yes, IGC Markets has been blacklisted in Austria and marked as a fraudulent brokerage.
Is IGC Markets Regulated?
No, IGC Markets is not regulated and provides financial services illegally.