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Contract reading

What INGOT legally published, but does not want you to read

Every clause below is published by INGOT itself, on its own website, today. The finding is not that the text exists. It is the distance between what a client is shown and what a client agreed to. Read from its own documents on .

Contracting entity: INGOT SC LTD

sole discretionhidden feewithdrawalsmarketing contradictionprofit voidingunilateral amendmentcomplaint deadlineconflict of interestdeemed acceptancedispute

INGOT SC LTD advertises withdrawals with zero fees. Its own contracts charge up to 4.5% when you trade too little, and up to 15% if you switch payment method. A new 2% withdrawal fee arrived quietly in the September 2026 policy. The fund safety page promises you cannot lose more than you deposit, while the risk disclosure says you could lose more than you invested.

Back to INGOT

Contract risk

Money at risk
8.5/10

Where this contract sitsHow far this contract goes, overall. Under 2 is nothing beyond the ordinary; 6 to 9 means several clauses put money you have already earned at risk; 9 and above reads as designed to make payout refusable.

0510
CriticalClauses that can cost you money you have already earned or deposited, or that remove your ability to challenge it.
13
FlaggedEvery clause worth knowing about, at all three severities. Ordinary terms that every broker has are not counted.
27
DocumentsHow many of the broker's own legal files this reading is based on. Each one was downloaded and hashed on the date shown.
42
ContradictionsPlaces where a promise the broker makes in public is not kept by the clause that governs it.
7

How the 27 break downThe same flagged clauses, split by how much each one can cost you. Severity is our reading of the clause, not the broker's label.

Critical13
Warning12
Notice2

The numbers in this contractFigures taken from this broker's own clauses, so the labels differ from broker to broker. The four in the panel above are the same on every report.

4 of these 4 figures come from a clause we rate critical, which means it can take your money or your profit rather than only delay it.

Critical4.5%In the contract. Jump to the clause this comes from.Zero withdrawal fees advertised, 4.5% in the contractCritical2%Fee you were not shown. Jump to the clause this comes from.New 2% withdrawal fee added in September 2026Critical100Account limit. Jump to the clause this comes from.Weekend leverage cap can liquidate your open tradesCritical90 daysFee on an unused account. Jump to the clause this comes from.Dormancy fee takes the balance, then the account

What the documents say

27 clauses worth knowing about, worst first, each quoted from INGOT's own files

01

INGOT advertises that you withdraw with zero fees. Clause 2.9.1 of its Customer Service Agreement charges a withdrawal commission of up to 4.5% when you have not traded enough, on a scale that rises the longer you stay quiet.

Why this matters

The page you sign up from says zero. The agreement takes 2% after one quiet month, 3% after three and 4.5% after six, out of the money you asked for.

Exhibit 1CriticalHarder than usual4.5%

The Company reserves a right to raise commission on withdrawal up to 4.5% in case there is no sufficient trading activity between last deposits and withdraw request which the customers will be given prior notice of.
Clause 2.9.1 in Customer Service Agreement, p.10
Read from the broker's site on Open the reference

What happens, and when

The stages this clause runs through, taken from the broker's own document
TriggerWhat the broker may then doClause
1 month to 3 monthsA 2% commission comes off the withdrawal.2.9.1
3 months to 6 monthsThe commission rises to 3%.2.9.1
More than 6 monthsThe commission rises to 4.5%.2.9.1
  • Worse together with Exhibit 3Two separate documents each charge you for not trading, one at a flat 2% and one on a rising scale.
  • Worse together with Exhibit 7A client whose deposit method cannot pay out faces the inactivity scale and the 15% method charge on the same withdrawal.
02

If INGOT treats your account as showing what it calls a significantly minimal level of trading activity, its Deposit & Withdrawal Policy lets it refuse to process your withdrawal. You get paid only if you ask to close the account.

Why this matters

Deposit money, trade little, and the only exit the policy leaves you is shutting the account down. No test, no appeal and no time limit is attached to that decision.

Exhibit 2CriticalHarder than usual

Suspicious activity: In the event that a Customer establishes an account with INGOT SC LTD and subsequently exhibits any act may a INGOT SC LTD’s opinion and assessment is considered as a suspicious activity such as, but-not-limited-to, a significantly minimal level of trading activity, the withdrawal of funds from said account may not be processed, unless the Customer expressly seeks to terminate the account.
Quoted in INGOT SC LTD Deposit & Withdrawal Policy, p.6
Read from the broker's site on Open the reference
  • Worse together with Exhibit 3Not trading costs you 2% of the withdrawal and can also be the reason the withdrawal is never processed.
03

A fee of 2% now comes off any withdrawal if you did not trade between your deposit and your request. INGOT added it in the 02 September 2026 version of its Deposit & Withdrawal Policy.

Why this matters

Deposit $1,000, change your mind, and $20 goes before the money leaves. The waiver INGOT offers on a first withdrawal asks you to trade 100 times your deposit first.

Exhibit 3CriticalHarder than usual2%New

No Trading Activity Fee: If no trading activity has been executed on the Customer’s account between the date of the deposit and the date of the withdrawal request, INGOT SC LTD shall apply a fixed fee of two percent (2%) of the withdrawn amount, to be deducted prior to processing the withdrawal.
Quoted in INGOT SC LTD Deposit & Withdrawal Policy, p.5
Read from the broker's site on Open the reference
  • Worse together with Exhibit 1The flat 2% and the rising 4.5% scale sit in two different current documents and describe the same situation differently.
04

INGOT's fund safety page promises that you cannot lose more than you deposited. Its own risk disclosure says you could lose more than you invested, and the Customer Service Agreement makes you liable for any deficit left behind.

In plain words

Negative balance protection is a limit that stops you owing more than you put in. Without it, one fast market move can leave you owing the broker money on top of your deposit.

Why this matters

A gap in the market can take your account below nil. On the contract INGOT can pursue you for that shortfall, whatever the safety page told you before you deposited.

Exhibit 4CriticalHarder than usual

You could lose more funds than you invested, so you shouldn't speculate with capital you can't afford to lose.
Quoted in INGOT Risk Disclosure, p.1
Read from the broker's site on Open the reference
Set against a regulated standard: FCA (UK), ESMA (EU), CySEC (Cyprus)

Firms licensed by the FCA and under ESMA rules must give retail CFD clients negative balance protection, so a retail account cannot go below nil. INGOT's risk disclosure tells you the opposite and its agreement leaves the deficit with you.

INGOT is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

  • Worse together with Exhibit 5The same page makes two safety promises that the contract documents do not keep.
05

INGOT tells you your money sits in segregated accounts and is not used for business purposes. Clause 3.5 of the Terms lets it invest that money, keep the interest, and use it to meet its own margin obligations, including dealings for other clients.

Why this matters

Your deposit is not sitting still waiting for you. Money INGOT moves out of that account belongs to it and stops being your funds, on its own wording.

Exhibit 5CriticalHarder than usual

we may use your money from the trust account for the purpose of meeting obligations incurred by us in connection with margining, guaranteeing, securing, transferring, adjusting or settling dealings in derivatives by us (including dealings with our Hedging Partner), including dealings on behalf of other clients.
Clause 3.5(f) in INGOT SC LTD Terms and Conditions, p.7
Read from the broker's site on Open the reference
Set against a regulated standard: FCA (UK), CySEC (Cyprus)

Firms licensed by the FCA or CySEC must hold retail client money in trust and may not use it for their own account. These clauses let INGOT invest the balance, keep the earnings, and apply it to its own obligations.

INGOT is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

  • Worse together with Exhibit 17The same balance is pledged as security for anything you owe and can be sold without notice or a court order.
06

Place or even partly close an order in the two hours before Friday's close and INGOT re-applies a 1:100 cap to every open position in that instrument. On its advertised 1:5000 leverage that multiplies the margin you must hold by fifty.

Why this matters

Trying to cut your risk before the weekend is itself a trigger. INGOT says this may cause margin calls and liquidation, that it owes you no prior notice, and that it is not liable for the result.

Exhibit 6CriticalRarely seen100New

Within two (2) hours prior to the scheduled market close or any prior to any officially-recognized public holiday affecting the relevant market and upon markets opening on Monday or after any prior to any officially-recognized public holiday affecting the relevant market (“Specified Events”) where the Customer places any new order in an instrument subject to Temporary Leverage Cap set out in the table above, the maximum leverage applicable to all open and new position in that instrument shall for the duration of the Specified Event, be
Clause 14(a)(i) in Dynamic Leverage Terms and Conditions, p.7
Read from the broker's site on Open the reference

What happens, and when

The stages this clause runs through, taken from the broker's own document
TriggerWhat the broker may then doClause
2 hours before Friday closeAny new order caps leverage on all your open positions in that instrument.14(a)(i)
30 minutes before daily closeThe same cap applies on other trading days.14(a)(ii)
15 minutes before high-impact newsThe cap applies from 15 minutes before to 10 minutes after the release.14(a)(iii)
Market re-openingLeverage reverts to your normal tier within a reasonable time, with no notice.14(b)

Trades can be unwound long after they close

Clause 4.14 of INGOT's Terms enforces trades where you owe money and voids trades where INGOT owes you, unless you produce conclusive evidence within 30 days that you did nothing wrong. Clause 3.13 of the Customer Service Agreement reclaims historic profits at any time during the relationship, though INGOT must document the price error first. On a swap-free account INGOT can reverse all trades, revoke all profits and close every account you hold.

Profit at risk3 clauses flagged

If INGOT believes you manipulated its prices or its platform, clause 4.14 lets it enforce the trades where you owe money and void the trades where it owes you. You keep the losses and lose the gains.

Why this matters

To save a voided profit you must produce conclusive evidence within 30 days that you did nothing wrong. The contract puts the burden on you and never defines manipulation.

Exhibit 9CriticalRarely seen30 days

treat all your trades as void from the outset if they are trades which result in us owing money to you, unless you produce conclusive evidence within 30 days of us giving you notice under this clause that you have not committed any breach of warranty, misrepresentation or undertaking in this Agreement;
Clause 4.14(b) in INGOT SC LTD Terms and Conditions, p.11
Read from the broker's site on Open the reference
  • Worse together with Exhibit 10One clause voids the trades in front of INGOT, the other reclaims profits you banked earlier in the relationship.

INGOT can take back profits you made months ago. Clause 3.13 covers any historic trading profits it says were gained from exploiting a price error, at any time during your relationship with it.

Why this matters

No time limit applies. INGOT must be able to document the error and show your trading was deliberate or systematic, but a profit you already withdrew is still within reach.

Exhibit 10CriticalHarder than usual

retrieve from the Customer's account any historic trading profits that the Company can document have been gained through such abuse of liquidity at any time during the customer relationship;
Clause 3.13.iii in Customer Service Agreement, p.14
Read from the broker's site on Open the reference
  • Worse together with Exhibit 14INGOT sets the prices, is never obliged to show what it earned on them, and decides when one of its own prices was an error.

On a swap-free account, if INGOT finds what it calls deceitful or fraudulent activity, it can reverse all your trades, revoke all profits and close every account you hold with it. No notice is required.

Why this matters

Swap-free accounts exist for clients whose faith bars interest. What is at risk here is not the swap benefit but your whole trading record, and INGOT can also cancel the swap-free status at any moment without giving a reason.

Exhibit 11CriticalHarder than usual

revoke all profits or losses incurred and terminate all trading accounts of such Customer. and/or
Quoted in Swap-Free Account Terms and Conditions, p.2
Read from the broker's site on Open the reference
  • Same clause as Exhibit 9Both clauses let INGOT unwind completed trades on a suspicion it defines and judges itself.

Four charges on withdrawals, none of them on the fees page

INGOT added a 2% fee on withdrawals made without trading in its 02 September 2026 policy, and waives it on a first withdrawal only if you have traded 100 times your deposit. Routing a payout to a different method can cost up to 15%, a ceiling INGOT says it may raise at its own discretion. Currency conversion takes up to 0.5% each way under clause 8.1 of the Terms, plus a mark-up INGOT sets on the rate. The pricing page covering these costs is headed Zero hidden fees.

Cost disclosure2 clauses flagged

If INGOT reads your withdrawals as an attempt to move money to a different payment method, it can refuse the request or charge escalating fees reaching 15% of the amount. It can raise that ceiling later at its own discretion.

Why this matters

INGOT does not pay out to cards at all, so a card depositor has to change method to get paid. On the same policy that change is what the 15% charge is for.

Exhibit 7CriticalRarely seen15%

escalating fees, potentially reaching a maximum of 15% of withdrawal amount, upon the Customer. The maximum percentage may be increased in the future based on INGOT SC LTD’s own discretion.
Quoted in INGOT SC LTD Deposit & Withdrawal Policy, p.6
Read from the broker's site on Open the reference
  • Worse together with Exhibit 1The inactivity commission and the method charge can both apply to one withdrawal request.

Converting money into or out of your account currency costs up to 0.5% under clause 8.1 of the Terms. INGOT also adds its own mark-up to exchange rates and sets the rate for exotic currencies itself.

Why this matters

Deposit in one currency and withdraw in another and this is charged twice, once each way. The pricing page that promises zero hidden fees does not mention it. INGOT may waive the fee at its discretion.

Exhibit 26WarningStandard wording0.5%

funds transferred from our segregated bank account will be converted at the current spot rate for the conversion of the relevant funds into your nominated currency (being either Australian dollars, US Dollars or Euros) minus a conversion calculation fee of up to 0.5 per cent, which we will charge you; and
Clause 8.1(a) in INGOT SC LTD Terms and Conditions, p.14
Read from the broker's site on Open the reference

Trading too little is grounds to stop your payout

INGOT's Deposit & Withdrawal Policy names a significantly minimal level of trading activity as suspicious, and says the withdrawal may not be processed unless you ask to close the account. Submitting a request also freezes that money out of your margin, so your open trades can be stopped out while you wait. A wire gets 6 working days to process and up to 14 business days to arrive, against the 5 business days the funding page advertises, and the policy then says INGOT is not committed to any time frame.

Exit conditions2 clauses flagged

The moment you submit a withdrawal request INGOT reserves that money as a Held Amount. It stops counting as free margin, so your open trades can be stopped out while the payment is still being handled.

Why this matters

A cancellation request is not guaranteed to stop the withdrawal. INGOT says plainly that it is not liable for margin calls, stop-outs or liquidations caused by assuming the money would come back to your account.

Exhibit 13CriticalRarely seen

Such Held Amount shall not be regarded as available balance or free margin and must not be relied upon by the Customer to support open positions, meet margin requirements, or prevent margin calls, stop-outs, or liquidations.
Quoted in INGOT SC LTD Deposit & Withdrawal Policy, p.3
Read from the broker's site on Open the reference
  • Worse together with Exhibit 2Asking for your money can cost you open positions, and the request can still be refused afterwards.

INGOT's funding page says a withdrawal takes up to 5 business days. Its Deposit & Withdrawal Policy gives itself 6 working days to process a wire and up to 14 business days more for the money to arrive.

Why this matters

Four weeks is inside the policy and far outside what you were told. The policy then says INGOT is not committed to any time frame at all.

Exhibit 27WarningHarder than usual14 working days

The request will generally be processed by INGOT SC LTD within 6 working days of receipt. The time it takes for the money to reach your account that has been used to deposit funds may vary and reach 14 business days.
Quoted in INGOT SC LTD Deposit & Withdrawal Policy, p.2
Read from the broker's site on Open the reference
Our own capture of ingot.io, taken on Oct 15, 2026The claim, on Funding & Withdrawals page, withdrawal timing panelThis capture shows the page the quotation was taken from. The words themselves are not marked in it, so please read the quotation above as the evidence.Visit this page on the broker's siteDownload the full size image file

Three business days, counted on Australian bank holidays

Clause 10.6 of INGOT's Terms gives you 3 Business Days to challenge a document before it becomes conclusive, and the Customer Service Agreement says immediately. During a dispute INGOT can close the trade without notice and calculate margin on the basis that its own view of events is correct. Its records prevail where they conflict with the agreement, and on the Secure Start promotion no appeal or protest will be entertained at all.

Challenging a trade3 clauses flagged

You get 3 Business Days to challenge any document INGOT sends you. After that clause 10.6 of the Terms treats it as conclusive. The Customer Service Agreement is stricter again and tells you to object immediately.

In plain words

A manifest error means an obvious mistake by the broker.

Why this matters

Miss the window and INGOT's record of your trade becomes the agreed version. The three days run from when the document reaches you, not from when you spot the problem.

Exhibit 12CriticalHarder than usual3 working days

You must verify the contents of each document received from us. Such documents are, unless incorrect, conclusive unless you notify us in writing to the contrary within 3 Business Days of receiving the document.
Clause 10.6 in INGOT SC LTD Terms and Conditions, p.15
Read from the broker's site on Open the reference
Set against a regulated standard: FCA (UK), CySEC (Cyprus)

Firms licensed by the FCA or CySEC must give a retail client at least eight weeks to complain and cannot treat silence as agreement to a disputed trade. These clauses close the question in three business days, or immediately under the other agreement.

INGOT is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

  • Worse together with Exhibit 21A short window to object matters more where the broker's own record is the evidence that survives it.
  • Only applies after Exhibit 20The three days are counted in business days defined by bank holidays in New South Wales, Australia.
  • Limited by Exhibit 25The Complaint Handling Policy puts no deadline on you and names the Seychelles regulator as an appeal route.

Where you and INGOT disagree about a margin trade, it can close that trade without notice and then work out your margin on the basis that its own view of events is the correct one.

Why this matters

Your position is gone before the facts are settled. The Terms also say INGOT's records prevail if they conflict with the agreement itself.

Exhibit 21WarningHarder than usual

view of the disputed events or instructions is correct.
Clause 25.2 in Customer Service Agreement, p.38
Read from the broker's site on Open the reference

On the Secure Start promotion, INGOT's decisions are final, binding and conclusive. The terms say no correspondence, query, appeal or protest will be entertained.

Why this matters

If INGOT decides you were not eligible for the $100 first-trade cover, you have no route to question it. It can also cancel the promotion at any time without notice or a reason.

Exhibit 22NoticeHarder than usual

All decisions by INGOT regarding any aspect of the Promotion shall be final, binding, and conclusive. No correspondence, query, appeal, or protest (verbal or written) will be entertained;
Clause 6(a) in Secure Start by INGOT Terms and Conditions, p.3
Read from the broker's site on Open the reference

A dormancy fee sized to consume whatever is left

After 90 calendar days without activity INGOT charges $10 a month, or your entire free balance if that is smaller, so the fee can never be refused for want of funds. Once the balance reaches nil the policy terminates, deletes or closes the account seven days later. Clause 4.12 of the Customer Service Agreement separately allows archiving an account with $10 or less, with no obligation to tell you before or after, though an archived balance can be moved to a new account.

In plain words

Dormancy means an account left unused.

Dormancy1 clause flagged

After 90 calendar days without activity INGOT charges $10 a month, or your whole free balance if that is less. Once the balance reaches nil it closes or deletes the account seven days later.

Why this matters

The fee is written so it can never be refused for want of funds. It takes what is there until nothing is left, and then the account goes. INGOT does let you move an archived balance into a new account.

Exhibit 8CriticalHarder than usual90 days

Inactive Accounts are subject to a monthly Dormant Fee of USD 10 or the full amount of the free balance in the account, whichever is less. If the free balance is less than USD 10, the full balance will be charged.
Quoted in INGOT SC LTD Deposit & Withdrawal Policy, p.4
Read from the broker's site on Open the reference

What happens, and when

The stages this clause runs through, taken from the broker's own document
TriggerWhat the broker may then doClause
Day 90INGOT treats the account as inactive.Inactive Account Fees/Dormant Fees
Each month afterA $10 monthly fee applies, or your whole free balance if it is smaller.Inactive Account Fees/Dormant Fees
Balance at zeroNo further fee is charged.Inactive Account Fees/Dormant Fees
7 days after reaching zeroINGOT terminates, deletes or closes the account.Inactive Account Fees/Dormant Fees
Balance under $10 at day 90INGOT may archive or disable the account without telling you before or after.4.12

Leverage, fees and default all move at INGOT's choosing

INGOT rewrote its Dynamic Leverage terms on 15 October 2026, doubling to two hours the window in which a new order re-applies a 1:100 cap to every open position in that instrument, and adding a 30 minute cap before every daily close. It says this may trigger liquidation, that it owes no prior notice and that it is not liable. Fees can rise on 3 days notice under the Terms or two months under the agreement, and an Event of Default arises whenever INGOT considers it necessary for its own protection.

Unilateral power3 clauses flagged

INGOT can raise your fees on 3 days notice under the Terms, on one month under the Customer Service Agreement, and on two months for a private client under that same agreement. Clause 22.9 also says it may vary the agreement at any time.

Why this matters

You cannot tell which notice you are owed before a charge arrives. Silence counts as acceptance, so doing nothing agrees to the increase.

Exhibit 16WarningHarder than usual3 days

We may, following 3 days’ notice to you, charge you additional fees and/or commissions or increase the current fees and/or commissions) under the Agreement.
Clause 22.10 in INGOT SC LTD Terms and Conditions, p.28
Read from the broker's site on Open the reference
  • Worse together with Exhibit 1A withdrawal commission that is already discretionary can be raised again on the shorter of these notice periods.

An Event of Default happens whenever INGOT reasonably considers it necessary for its own protection or that of its associates. That is the last item on a list of fourteen, and it needs nothing from you at all.

Why this matters

Once default is declared INGOT can close your positions, sell what secures them and consolidate your accounts. It promises seven days notice before selling your security, unless it decides an immediate sale will limit a loss.

Exhibit 17WarningHarder than usual

we reasonably consider it necessary for its own protection or the protection of its associates.
Clause 24.2, Event of Default (o) in INGOT SC LTD Terms and Conditions, p.35
Read from the broker's site on Open the reference
  • Worse together with Exhibit 5Everything in your account is pledged, so a default INGOT declares on its own judgment reaches the whole balance.

INGOT treats closing positions in under three minutes as scalping and bans it. Accounts it identifies are closed within 24 hours, and it can cancel, reverse and delete the trades without telling you first.

Why this matters

A fast exit from a bad trade can breach this rule. It catches a technique rather than a loss, so your profitable and unprofitable quick trades go the same way.

Exhibit 23WarningHarder than usual

You are prohibited from Scalping on your INGOT SC LTD Account. If we find any accounts which are found to be Scalping accounts, it will be closed within 24 hours.
Clause 4.15 in INGOT SC LTD Terms and Conditions, p.11
Read from the broker's site on Open the reference

Seychelles courts, an Australian calendar and a Jordanian card

INGOT's Terms send disputes to the civil courts of Seychelles, make you waive any argument that the forum is inconvenient, and keep INGOT's right to sue you elsewhere. The same Terms define a Business Day by bank holidays in New South Wales, Australia, which is the calendar your 3 day dispute window runs on, and still price overnight interest off LIBOR. Disputes about the INGOT-branded card go to the courts of Jordan instead.

Where you would argue2 clauses flagged

Disputes go to the civil courts of Seychelles, and you waive any argument that the forum is inconvenient. INGOT keeps the right to bring proceedings against you in any other jurisdiction.

Why this matters

Travelling to Mahé to argue about a withdrawal is the remedy on offer. Your INGOT card is different again, because those disputes go to the courts of Jordan.

Exhibit 19WarningStandard wording

Waive any objection which may have at any time to proceeding brought in any such court and agrees not to claim that such proceeding has been brought in an inconvenient for that such court does not have jurisdiction over it.
Clause 16.3 in INGOT SC LTD Terms and Conditions, p.20
Read from the broker's site on Open the reference

The Terms define a Business Day as a day banks are open in New South Wales, Australia. Your three day window to dispute a trade therefore moves with Australian public holidays, not Seychelles ones and not your own.

Why this matters

You cannot work out your own deadline from where you live or where INGOT is. The same contract still prices your overnight interest off LIBOR, a benchmark that was discontinued.

Exhibit 20WarningRarely seen

Business Day means a day on which banks are open for general banking business in NSW (not being a Saturday, Sunday or public holiday in that place).
Clause 24.2 Definitions in INGOT SC LTD Terms and Conditions, p.33
Read from the broker's site on Open the reference
  • Worse together with Exhibit 12A three day deadline is harder to meet when the days are counted by a foreign country's bank holidays.

Proof can be demanded at any time, with the payment held

INGOT reserves the right to require additional proof from you at any time, and says failure to comply leaves your payment frozen or refunded. A deposit under verification can be traded for 24 business hours but cannot be withdrawn. Nothing in the policy limits what may be asked for or caps how long the hold lasts.

Document demands1 clause flagged

INGOT can require extra proof from you at any point. If you do not supply it, the policy says your payment is frozen or sent back to where it came from.

Why this matters

The demand can land on a withdrawal you have already requested. Nothing in the policy limits what can be asked for or how long the freeze may last.

Exhibit 18WarningStandard wording

Additional proof: INGOT SC LTD reserves the right to require you to submit additional proof at any time.
Quoted in INGOT SC LTD Deposit & Withdrawal Policy, p.4
Read from the broker's site on Open the reference
  • Worse together with Exhibit 2A document demand and a low-activity review can each stop the same payout, and neither has a deadline.

INGOT sets the price, takes the other side, and owes you no account of it

Clause 12.15 of INGOT's Customer Service Agreement says it is at no time obliged to disclose what it earned as a market maker, and clause 12.14 calls those costs neither visible nor quantifiable to you at any time. Its Conflict of Interest Policy admits it may be the buyer when you sell, that its prices might not be the best available, and that it may pay staff on your trading volume. Its Financial Services Guide tells you it has no relationships or associations that might influence it.

Who is on the other side2 clauses flagged

INGOT takes the other side of your trades and sets the prices itself. Its agreement says the spread it earns will not appear on your confirmation, and that it is never obliged to disclose what it made.

In plain words

Remuneration means payments it receives.

Why this matters

You cannot check what a trade actually cost you. The agreement calls these implied costs neither visible nor quantifiable to you at any time.

Exhibit 14WarningHarder than usual

The Company's performance as a Market Maker may negatively affect the Customer's Account with the Company and the said implied costs are neither directly visible nor directly quantifiable for the Customer at any time.
Clause 12.14 in Customer Service Agreement, p.27
Read from the broker's site on Open the reference
Set against a regulated standard: FCA (UK), CySEC (Cyprus), ESMA (EU)

Firms licensed by the FCA or CySEC must disclose costs and charges to a retail client before they trade and in a periodic statement afterwards. This agreement states the opposite, that INGOT is at no time obliged to disclose that income.

INGOT is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

  • Worse together with Exhibit 15The policy admits the conflict in detail while the shorter guide a new client reads denies it exists.

INGOT's Financial Services Guide tells you it has no relationships or associations that might influence it. Its Conflict of Interest Policy then lists sixteen, including acting as the buyer when you sell.

In plain words

On a principal basis, as your counterparty, means the broker takes the other side of your trade itself. Your loss is then the firm’s gain, so it has an interest in how your trade ends.

Why this matters

The guide is the short document a new client actually reads, and it gives you the opposite of the longer policy. The same guide calls INGOT a market maker four pages earlier.

Exhibit 15WarningHarder than usual

We do not have any relationships or associations which might influence us when providing you with our services.
Clause 10 in INGOT SC LTD Financial Services Guide, p.6
Downloaded from the broker's site on Open the reference
  • Same clause as Exhibit 14Both rest on INGOT being your counterparty while owing you no account of what that earns.

INGOT SC LTD holds SD117, and two other names appear beside it

Your counterparty is INGOT SC LTD, registered in Seychelles under number 8431005-1, which its documents say holds Securities Dealer Licence SD117. INGOT's own licences page credits that licence to INGOT Global Ltd, and its Seychelles homepage prints the CySEC and MiFID authorisation of INGOT Brokers Europe Ltd. Complaints get 30 business days and then the Seychelles regulator, and the Cyprus shelf publishes an Investor Compensation Fund Notice that the Seychelles shelf has no equivalent of.

Who you contract with2 clauses flagged

You contract with INGOT SC LTD, which its documents say holds Seychelles Securities Dealer Licence SD117. INGOT's licences page credits that same licence to INGOT Global Ltd, and its Seychelles homepage prints a CySEC authorisation belonging to INGOT Brokers Europe Ltd.

Why this matters

Checking a licence means knowing whose name to look up, and the page that exists to tell you gives a different one. The CySEC paragraph describes a company that is not your counterparty and does not cover your account.

Exhibit 24WarningHarder than usual

INGOT SC Ltd. is authorized and licensed by the Financial Service Authority to provide securities dealer activities with its Securities Dealer License No: “SD117,”
Clause 1 in INGOT-Branded Card and Application Terms and Conditions, p.1
Read from the broker's site on Open the reference

INGOT promises a complaint answer within 30 business days and names the Seychelles Financial Services Authority as your appeal route. After that the Terms point you to the Seychelles civil courts.

Why this matters

The only escalation named is the regulator itself, which can act against INGOT but will not pay you back. INGOT's Cyprus arm publishes an Investor Compensation Fund Notice and the Seychelles shelf has no equivalent.

Exhibit 25NoticeStandard wording

When the complaint is rejected, the Complainant may lodge an appeal to the FSA of the case so that the required enforcement action may be taken.
Clause 7.0 in INGOT SC LTD Complaint Handling Policy, p.6
Read from the broker's site on Open the reference

Where the marketing and the contract disagree

A promise made in public, set against the clause that governs it

01

The page promises zero withdrawal fees while the agreement sets a withdrawal commission of up to 4.5%.

Said in public, in English

Keep more of your profits with our zero withdrawal fees. Withdraw your funds confidently without worrying about unnecessary charges.

Zero Zero Zero page on INGOT's Seychelles site, withdrawal fees panel

In the contract · clause 2.9.1

The Company reserves a right to raise commission on withdrawal up to 4.5% in case there is no sufficient trading activity between last deposits and withdraw request which the customers will be given prior notice of.

02

The safety page says you cannot lose more than you deposited and the risk disclosure says you could lose more than you invested.

Said in public, in English

If your account balance becomes negative, your positions are automatically closed, and your balance is restored to zero. This feature ensures that you cannot lose more than your deposited funds.

Safety of Your Funds page, negative balance protection panel

In the contract

You could lose more funds than you invested, so you shouldn't speculate with capital you can't afford to lose.

03

The page says your funds are not used for business purposes and the Terms let INGOT use them to meet its own margin obligations, including for other clients.

Said in public, in English

We keep your funds in segregated accounts separate from our operational funds. This provides an added layer of security, ensuring your funds are not used for business purposes.

Safety of Your Funds page, segregated accounts panel

In the contract · clause 3.5(f)

we may use your money from the trust account for the purpose of meeting obligations incurred by us in connection with margining, guaranteeing, securing, transferring, adjusting or settling dealings in derivatives by us (including dealings with our Hedging Partner), including dealings on behalf of other clients.

04

The pricing page promises zero hidden fees while the agreement calls its own costs neither visible nor quantifiable to you.

Said in public, in English

Zero hidden fees

Our Pricing Model page, Clear Pricing panel headed Zero hidden fees with the line Clear costs, no surprises

In the contract · clause 12.14

The Company's performance as a Market Maker may negatively affect the Customer's Account with the Company and the said implied costs are neither directly visible nor directly quantifiable for the Customer at any time.

05

The Seychelles homepage prints a CySEC and MiFID authorisation for a Cyprus company while the documents governing that site name INGOT SC LTD and a Seychelles licence.

Said in public, in English

INGOT Brokers Europe Ltd is a regulated investment services firm authorised to conduct its activities by the Cyprus Securities and Exchange Commission (‘CySEC’) under licence number 462/25. INGOT Brokers Europe Ltd operates in accordance with the Markets in Financial Instruments Directive (MiFID) of the European Union.

Footer of INGOT's Seychelles homepage, printed above the line reading © 2026 INGOT SC LTD. All Rights Reserved.

In the contract

any and all usage of the site and services is subject to the full set of INGOT SC LTD’s (Company number “8431005-1” and License number “SD117”) legal documents including the Customer Service Agreement, Terms and Conditions, and may be amended from time to time at INGOT SC LTD’s sole discretion.

06

The funding page caps a withdrawal at 5 business days while the policy allows 6 working days to process plus 14 business days to arrive.

Said in public, in English

Withdrawal processing time varies from “instant” to “up to 5 business days” depending on the payment method.

Funding & Withdrawals page, withdrawal timing panel

We took a picture of this page. It is shown once, with the finding it belongs to. See our capture of ingot.io

In the contract

The request will generally be processed by INGOT SC LTD within 6 working days of receipt. The time it takes for the money to reach your account that has been used to deposit funds may vary and reach 14 business days.

07

The page offers your preferred payment method at no extra charge while the policy charges up to 15% for routing a withdrawal to a different method.

Said in public, in English

Deposit and withdraw using your preferred payment method and currency, with no extra charges.

Zero Zero Zero page, Freedom & flexibility panel

In the contract

escalating fees, potentially reaching a maximum of 15% of withdrawal amount, upon the Customer. The maximum percentage may be increased in the future based on INGOT SC LTD’s own discretion.

What changed quietly

This is our first reading of INGOT SC LTD, so there is no earlier version of this page to compare it against. INGOT's own documents did move: the 2% withdrawal fee and its 100 times volume condition arrived in the 02 September 2026 Deposit & Withdrawal Policy, and the Dynamic Leverage terms were rewritten on 15 October 2026 to double the pre-close leverage window and drop a notice right.

  • ADDEDClause · 11 Feb 2026 to 02 Sep 2026

    A 2% charge on withdrawals made without trading was added in September 2026 and did not exist in the February 2026 policy.

    No Trading Activity Fee: If no trading activity has been executed on the Customer’s account between the date of the deposit and the date of the withdrawal request, INGOT SC LTD shall apply a fixed fee of two percent (2%) of the withdrawn amount, to be deducted prior to processing the withdrawal.

  • ADDEDClause · 11 Feb 2026 to 02 Sep 2026

    The waiver on a first withdrawal now requires trading volume of 100 times the deposit, so the only escape from the new fee is heavy trading.

    The above fee shall not apply to the Customer’s first withdrawal request, provided that the Customer has generated a minimum notional trading volume equal to one hundred (100) times the deposited amount prior to submitting the withdrawal request, subject to a maximum required notional trading volume of USD 1,000,000 regardless of the deposit amount (Minimum Notional Volume = Deposit × 100, capped

  • REWRITTENClause 14(a)(i) · 24 Mar 2026 to 15 Oct 2026

    The window in which your leverage is cut doubled from one hour to two before the close, and Monday's market opening was added to it.

    Within two (2) hours prior to the scheduled market close or any prior to any officially-recognized public holiday affecting the relevant market and upon markets opening on Monday or after any prior to any officially-recognized public holiday affecting the relevant market (“Specified Events”) where the Customer places any new order in an instrument subject to Temporary Leverage Cap set out in the t

  • ADDEDClause 14(a)(ii) · 24 Mar 2026 to 15 Oct 2026

    A daily 30 minute cap before the close was added, so the mechanism now applies every trading day rather than only before weekends and holidays.

    Daily Pre-Close: Within 30 minutes prior to the scheduled daily market close (Except Friday and holidays) for the instruments showed in Clause 13 where the Customer places any new order in an instrument subject to Temporary Leverage Cap set out in the table above, the maximum leverage applicable to all open and new position in that instrument shall for the duration of the Specified Event, be tempo

  • REMOVEDClause · 24 Mar 2026 to 15 Oct 2026

    A right to 24 hours notice before these terms were ended became a power to change or cancel them with immediate effect.

    The Company may amend or cancel these terms and conditions at its’ sole discretion effective immediately by notice.

  • REMOVEDClause · 24 Mar 2026 to 15 Oct 2026

    The promise to tell you about leverage changes through the portal or the website was dropped from the October 2026 version.

  • ADDEDClause · 25 Jun 2025 to 11 Feb 2026

    The Held Amount rule and the 30 minute cancellation window were added in February 2026 and are not in the June 2025 policy.

    Any amount subject to a withdrawal request shall be considered as a “Held Amount” from the moment the request is submitted. Such Held Amount shall not be regarded as available balance or free margin and must not be relied upon by the Customer to support open positions, meet margin requirements, or prevent margin calls, stop-outs, or liquidations.

The documents this reading is based on

42 files, all published by INGOT. Each shows when we read it and a fingerprint of its wording.

WIKILIX keeps the copy of each file it read, and does not republish it: what is published is the fingerprint of its wording. Download the file yourself and hash its text, lowercased with runs of whitespace collapsed, and a matching fingerprint means the wording quoted above is still the wording INGOT publishes.

How this reading was done

Every clause above was read out of a document INGOT publishes itself

This reading was published on .

Documents
11 of 42downloaded from the broker's site, and 11 read in full
Pages opened
18pages walked to find those documents, footer links included
Older copies
5earlier versions downloaded
Marketing pages
7public pages set against what the contract says

Who the contract is with

INGOT SC LTD

You contract with INGOT SC LTD, registered in Seychelles under number 8431005-1 at Unit 3, 2nd Floor, Dekk Complex, Plaisance, Mahé. Its documents say it holds Seychelles Securities Dealer Licence SD117. It is not INGOT Brokers Europe Ltd, the Cyprus firm whose CySEC authorisation is printed in the footer of INGOT's own Seychelles homepage, and it is not the Jordanian or Australian INGOT companies that operate the Arabic and ASIC sites. The Cyprus shelf publishes an Investor Compensation Fund Notice. The Seychelles shelf of 23 documents has no equivalent file.

Quotations are copied verbatim from the documents named above, with the clause number and the page each one came from. Where a clause is quoted in another language, the original is shown first and the English is a translation.

The plain-language parts, what a clause means for a client, how ordinary it is, and how it reads against a regulated standard, are WIKILIX's analysis and are labelled as such on every card. This is a reading of public documents, not legal advice and not an allegation of wrongdoing.

In fairness, and what we could not check

A reader who knows the edges of the work can trust the middle of it

The Complaint Handling Policy is better than most offshore brokers publish. It sets no deadline on you for complaining, promises an answer within 30 business days, bars the employee who caused the problem from deciding the case, and prints the Seychelles regulator's postal address, email and phone number as your appeal route. The Conflict of Interest Policy runs to 19 pages and admits in plain words that INGOT may be the buyer when you sell. The Secure Start promotion covers your first trade up to $100 and lets you withdraw that money, which many bonus schemes do not. Clause 4.12 of the Customer Service Agreement lets you move a balance out of an archived account into a new one. The shelf holds 23 documents and dates each file, which is what let us tell what changed and when.

We read the Terms and Conditions, the Customer Service Agreement, the Deposit & Withdrawal Policy, the Complaint Handling Procedure and six shorter documents in full, from the PDF files INGOT links on its Seychelles legal page. Every quotation credited to those documents comes from those files. We read only parts of the Conflict of Interest Policy, the Financial Services Guide, the Privacy Policy, the Product Disclosure Statement and the Copy Trading disclosure. We did not read the Best Execution Policy, the Weekend Gold policy, the Stock and ETF terms, or the six account opening, closure and money manager forms on the same page. Earlier copies exist for only four documents, so our comparison of versions covers the Deposit & Withdrawal Policy, the Dynamic Leverage terms, the Terms and Conditions and the Customer Service Agreement. The documents on INGOT's Cyprus page are the contracts of INGOT Brokers Europe Ltd, a different company, and we did not read them.

How to check any of this yourself

Every quote above links to the INGOT file it came from. This is what to do with it.

Open the three stepsFind the words in the source, work out the fingerprint, and read what a difference does and does not prove.

Open the source and search for the words

Every quote has a link under it. Open the file, or the web page, and search it for the words we quote. The clause number next to the quote tells you where to look.

If the words are not there any more, the source may have changed after we read it. That is worth knowing too. We keep the date we read it, and a code worked out from its wording, so the quote stays checkable.

What a fingerprint is

A fingerprint is a code worked out from what a source says. Change one word and the code changes completely. We keep two codes for every file we read, and the panel on each source shows both.

The first is the code of the exact file we downloaded. The second is the code of its wording alone, with capital letters lowered and runs of spaces collapsed. When the same words are saved as a new file, the first code changes and the second one stays the same.

Only the first code can be worked out on your own computer. Save the file, then run one of these, putting the name of the file you saved where the example is. The panel on each source prints the command with that source's real file name already in it.

macOS or Linux:
  shasum -a 256 the-file-you-saved.pdf

Windows:
  certutil -hashfile the-file-you-saved.pdf SHA256

The two codes are different from each other, and they are not meant to match. Comparing one against the other proves nothing.

What a difference means, and what it does not

A different file code on its own proves nothing. A PDF saved again with a new date inside it is a new file saying exactly the same thing.

A different wording code means the words themselves changed. That is the one that matters, and it is why we keep it.

Even then, a change is not proof of bad faith. Companies update their documents. What this report says is what the document said on the day we read it, and every quote carries that date.

A source that is a web page and not a file has no file to save, so only the code of its wording is shown.

How this report is made

Every clause quoted above comes from a document INGOT publishes on its own website, downloaded and hashed on the date shown, with the clause number and page recorded so any reader can check it. We do not allege anything the documents do not say, and we do not judge INGOT on anything other than its own published terms and its own public marketing. Where a clause has a qualifier that softens it, the report says so. Last read Oct 15, 2026.

If you represent INGOT and a clause has changed, been withdrawn, or is being read out of context, tell us and we will re-read the documents and update this page. Corrections from the broker are welcome and are published with the reading they change. Contact us.

This is a reading of a contract, not legal advice and not a ruling on INGOT. Whether its licence is real and current is a separate check on the broker profile.

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