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IGM FX Review
IGM FX is a Cyprus regulated broker that once had its CySEC license suspended in 2018 over capital rules, then reinstated after the firm fixed its capital shortfall.
Min Deposit
$250
Spreads From
Not clearly published on the official site, ask IGM FX for current spreads
Max Leverage
1:30 for retail clients under EU rules
Platforms
IGM FX WebTrader
Pros
- Holds a real CySEC license, number 309/16, since 2016
- Cyprus company registration confirmed active since 2015
- Client funds are segregated and covered by the Cyprus Investor Compensation Fund
- Gives access to more than 160 CFDs across several asset classes
Cons
- CySEC suspended its license in 2018 over a capital shortfall
- Independent complaint sites report slow or refused withdrawals
- Charges a monthly inactivity fee on dormant trading accounts
- Not open to traders in the UK, the USA, or Canada
- No demo account or Islamic swap free account is offered
IGM FX is the trading name of IGM Forex Ltd, a company registered in Cyprus in 2015. The firm is based in Limassol and holds a license from the Cyprus Securities and Exchange Commission, number 309/16, issued in 2016. It offers CFDs on forex, stocks, commodities, and other markets to clients inside the European Economic Area.
In July 2018, CySEC suspended IGM Forex's license after finding the firm lacked enough own capital under EU rules. The suspension was lifted in 2019 once the shortfall was fixed. Retail leverage is capped at 1 to 30, and client money sits in segregated accounts covered by the Cyprus Investor Compensation Fund up to 20000 euros.
IGM FX does not accept clients from the UK, the USA, or Canada. Traders on independent complaint sites report slow or refused withdrawals and limited customer support hours. The broker also charges a monthly fee on accounts left inactive, and it does not offer a demo account or an Islamic swap free option.
Min. Deposit
USD 250
Max Leverage
1:30 for retail clients under EU rules
Spreads From
Not clearly published on the official site, ask IGM FX for current spreads
Platforms
Regulation, fund safety, track record
Spreads, execution, leverage
Platform quality, charting, features
Analysis, webinars, learning materials
Support quality, responsiveness
Mobile app quality, features
