February 24, 2024

Ignite Fx Markets Reviews Is It a Genuine Platform or Scam?

Heard of Ignitefxmarkets.com trading platform? Really want to find more details before choosing the broker? You can carefully read the Ignite Fx Markets reviews to know about this forex broker whether to use or not.

Ignite Fx Markets Reviews

This post promises to share helpful review to support clients/traders in making the right decision. Kindly read to the end and make your verdict.

About Ignite Fx Markets

Ignite Fx Markets otherwise known as Ignitefxmarkets.com is an offshore brokerage with a lot of promises for forex traders. The forex company claims to offer crypto investment services to their clients. 

Furthermore, the brokerage promises different instruments like forex, stocks, commodities, crypto, bonds and indices.

Is Ignite Fx Markets a Scam Forex Broker?

First of, Ignite Fx Markets is a trade name of VM Services LLC is registered in Saint Vincent and the Grenadines

SVG

But, Saint Vincent and the Grenadines SVG is an offshore zone with no broker regulations in place. As soon as you open the website of the local Financial Services Authority you see a warning that the institution does not license forex and other types of brokers and does not supervise the activities of International Business Companies engaged in such activities.

Not all brokers registered in St. Vincent and the Grenadines are scammers, some of them are offshore branches of reliable international companies. This is not the case with Ignite Fx Markets, however, they are just a shady unregulated entity.

The situation always gets worsen for unlicensed brokers when some institutions issue a warning against them. Another financial authority from the Spanish regulator CNMV has blacklisted the broker for public to see.

CNMV Warning against ignitefxmarkets.com
CNMV Warning against ignitefxmarkets.com

Following this, the broker does not offer money back guarantee which means trading on such platform is clearly a risk as your money cannot be refunded.

These drawbacks are for forex traders/ clients to avoid losing money with scam brokers lurking online. It is always advisable you check for regulated and licensed broker on financial authorities websites before depositing fund for trading.

Won’t you rather trade with a licensed and legit broker? Fortrade is a UK-based broker with address at Michelin House, 81 Fulham Road London, SW3 6RD, United Kingdom. They are among the best brokers in the industry offering trades in numerous assets including stocks, commodities, currencies, indices, and cryptocurrencies. Fortrade is regulated and licensed by the FCA(Financial Conduct Authority) in the UK, ASIC in Australia, NBRB in Belarus, CySEC in Cyprus as well as IIROC in Canada which makes client funds safe. They accept traders worldwide…visit their official website

Does Ignite Fx Markets Have Account Types?

Ignite Fx Markets provides variety of trading account for clients. The broker provides a leverage capped 1:500.

Account type
Account type

Ignite Fx Markets minimum deposit is specified to be $250 based on the account type. In contrast, some licensed FX brokers can offer clients trading rate as low as $100 with the assurance of their trading funds.

The broker advertises payment methods like VISA, Mastercard, SEPA and crypto currencies – Bitcoin, Ethereum and USD Tether.

Just so you know, offshore brokers are commonly known for accepting crypto currencies. For this purpose, payments made through this method are anonymous and can only be traced to a wallet address and not to a specific person. So beware!

Ignite Fx Markets Provides What Trading Software?

Ignite Fx Markets offers access to a platform called UTIP and MetaTrader4. Actually, the broker’s web trader comes with some basic tools and custom indicators but nothing more advanced.

Why use forex brokers with advanced trader like MT4/MT5? You are certain to have the best features of real-time quotes, financial news and various FX and stock charts, as well as algorithmic trading sessions with the help of specially designed trading bots, called Expert Advisors.

Frankly, we say don’t consider doing that with an unregulated forex broker like this one because you stand the chance of losing your money.

Ignite Fx Markets Licensing and Regulation

Like in any corporation, integrity is a key to uphold these days. It doesn’t matter if you make a lot of money but you can’t take it out. That is to say, exactly what is happening with non-licensed companies.

Having said that, it is not far from believing that Ignitefxmarkets.com is not a licensed brokerage firm. It is not under any financial regulation which means wiring your money for trading is risky. Its unlicensed and unregulated activities are truly a red flag and must be avoided.

COMPARE WITH A TRUSTED BROKER

Fortrade

Fortrade is a UK-based broker with address at Michelin House, 81 Fulham Road London, SW3 6RD, United Kingdom. They are among the best brokers in the industry offering trades in numerous assets including stocks, commodities, currencies, indices, and cryptocurrencies. Fortrade is regulated and licensed by the FCA(Financial Conduct Authority) in the UK well as ASIC in Australia which makes client funds safe. They accept traders worldwide..visit their official website

Conclusion:

Ignite Fx Markets broker appears like a reliable trading platform, however, you should not take the words they say and the attractive website layout. By all appearances, the broker lacks one important indicator – its license. Thus, traders should steer clear from an unlicensed broker as its likely run by scammers. To this end, we urge our readers to rely on regulated brokers like this or any licensed entity.

Was the information helpful? Please share with us your experience in the comment section below. Thank you!

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2 thoughts on “Ignite Fx Markets Reviews Is It a Genuine Platform or Scam?

  1. I don’t even know what to believe again online these days. I met a young girl online who introduced me to this company but I did not take the idea at first but she keeps on persuading me with evidencesso I decided to give it a trial. After Investing with them I did not get anything in return, the girl who introduced to them blocked me I was frustrated until Gal-way-reli-ance con came to my aid they helped me to recover my money within a week .
    You can check them out guys at Gal-way-reli-ance con

  2. It is fake and very fraudulent and they will swindle you to invest your money with a high promising returns which all fake. They tried a fast one on me once but i avenge by a recommendable via maiI: nick jover4 at gm com which acted on my case and I was able to get it back including the bonus if you having same issues just reach out to him.

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