IGI Markets claims to be a trustworthy firm while presenting no details about its regulations. Lacking regulatory information is a distinct characteristic of unlicensed brokers, as legit brokers always present their certificates and licenses in a prominent position. It is a red flag here.
Besides, IGI Markets shows its company address is in Switzerland. However, when we searched in the Swiss Financial Market Supervisory Authority (FINMA), we only found this broker had been blacklisted by FINMA for not being entered in the commercial register. That means IGI Markets is not overseen by any regulators. Investors' funds in this broker are unsafe and cannot be protected by any law. Therefore, it is a scam.
IGI Markets claims to be a trustworthy firm while presenting no details about its regulations. Lacking regulatory information is a distinct characteristic of unlicensed brokers, as legit brokers always present their certificates and licenses in a prominent position. It is a red flag here.Besides, IGI Markets shows its company address is in Switzerland. However, when we searched in the Swiss Financial Market Supervisory Authority (FINMA), we only found this broker had been blacklisted by FINMA for not being entered in the commercial register. That means IGI Markets is not overseen by any regulators. Investors' funds in this broker are unsafe and cannot be protected by any law. Therefore, it is a scam.