Risk scorecard
Each area is scored 0 (clean) to 10 (worst). Higher means more risk.
Regulation
7/10 · HighGenuine but offshore FSA Seychelles licence SD117 for the contracting company; the tier-1 and tier-2 licences sit with sister companies, and Indonesia's Bappebti blocked ingotbrokers.com in 2021.
Identity & transparency
3/10 · LowEntity, address, phone and domains match the FSA register and the terms, and the sister companies check out with ASIC, CySEC, JSC and CMA; the regulation page still uses the old name INGOT Global Ltd.
Withdrawals & conduct
6/10 · HighRecurring reports since 2023 of refused profitable withdrawals and voided profits, spiking in Oct-Nov 2025 and backed by one-sided terms, set against many reports of normal payouts.
Reputation
5/10 · ModerateTrustpilot 3.3 from 57 reviews with a split 53% five-star and 37% one-star profile and bursts of invited praise; no fraud warning names INGOT.
Website claims
4/10 · ModerateLicence disclosure is accurate, but the Seychelles site leans on group licences that do not protect its clients, and the 20+ years claim is not backed by a company record older than 2012.
Operational history
6/10 · Highingotbrokers.com registered in February 2007 and INGOT AU PTY LTD in August 2012 give over 14 verified years; the Seychelles company's incorporation date is not published.
Who they are
A quick desk file on the company behind the brand.
- Brand: INGOT, also INGOT Brokers. The same licensee runs a second brand, Rise (TradeRise.com).
- Legal entity: INGOT SC LTD, the client's counterparty under the June 2025 terms. INGOT's regulation page still names the licence holder as INGOT Global Ltd, which appears to be its earlier name.
- Registered: Seychelles. Business address: Unit 3, 2nd Floor, Dekk Complex, Plaisance, Mahe.
- Website: ingot.io/SC/en-SC. The original domain, ingotbrokers.com, redirects there, and accounts are opened on portal.ingotbrokers.com.
- Only licence for this site: Seychelles FSA Securities Dealer licence SD117.
- Group companies: INGOT AU PTY LTD (ASIC licence 428015), INGOT Brokers Europe Ltd (CySEC licence 462/25), Ingot Financial Brokerage (Jordan Securities Commission), Ingot Ke Limited (Kenya CMA licence 173) and INGOT Financial Services LLC (UAE, introducing only).
- Offers: CFDs on currencies, metals, indices, energies, stocks, ETFs and crypto through MT4, MT5, the INGOT app and copy trading, with leverage up to 1:5000.
- Not accepted: citizens or residents of the United States.
- Age claim: 20+ years, founded 2006 according to INGOT. Its oldest domain was registered in February 2007 and its oldest dated company in August 2012.
Regulation
Who really oversees this broker, and what each licence is worth to you.
Proof of regulation on an official register: Yes
We confirmed this broker on a genuine regulator’s register.
Licences the broker publishes
Financial Services Authority of Seychelles (FSA)
Cyprus Securities and Exchange Commission (CySEC)
Australian Securities and Investments Commission (ASIC)
Jordan Securities Commission (JSC)
Capital Markets Authority of Kenya (CMA)
Capital Market Authority of the UAE (formerly the Securities and Commodities Authority)
Why we reached this verdict
How the evidence adds up.
INGOT is a real, licensed group, but the company behind ingot.io/SC is an offshore arm with weak client protection and a recurring record of disputed withdrawals. Together these put it in our high-risk band. None of them is a finding of fraud.
- The Seychelles licence is genuine. The FSA register lists INGOT SC LTD as a Securities Dealer at the same Mahe address and phone number as the website, with ingot.io and ingotbrokers.com as its sites. INGOT's own pages do not link to that entry.
- The stronger licences belong to sister companies. CySEC licence 462/25, granted on 10 November 2025, is held by INGOT Brokers Europe Ltd, whose only approved domain is ingotbrokers.eu. ASIC licence 428015 is held by INGOT AU PTY LTD. An account opened on ingot.io/SC is with INGOT SC LTD under Seychelles law.
- Indonesia blocked the brand's domain. A Bappebti list attached to an Indonesian trade ministry press release of 19 May 2021 includes www.ingotbrokers.com among sites blocked in April 2021 for offering futures trading without an Indonesian licence. That domain now redirects to ingot.io/SC.
- A repeated withdrawal complaint. Trustpilot shows 57 reviews averaging 3.3. Around ten reviews since 2023 describe money that did not come back. In October and November 2025, reviewers in Pakistan and Sri Lanka reported profits of $2,300 to $3,400 rejected after weeks pending. Another client says about $150,000 has been withheld since 6 October 2023 over an accusation of manipulation and scalping. That client says their shortest trade lasted 10 minutes and that they complained to the FSA on 19 November 2025. INGOT mostly answers with a standard reply.
- The terms allow profits to be voided. Clause 4.14 lets INGOT treat trades as void when they leave it owing the client money, if it believes prices or the platform were manipulated, unless the client proves otherwise within 30 days. Losing trades still stand. Clause 4.15 bans positions closed within 3 minutes.
- What counts for INGOT. The brand has been online since February 2007 and its Australian company has been registered since August 2012. No warning we found accuses INGOT of fraud, ASIC's only recent alert concerns a fake site impersonating INGOT, and many reviewers report normal withdrawals.
- An unconfirmed age claim. The 20+ years claim rests on a 2006 founding in Jordan that no company record we found confirms.
Evidence ledger
Every finding, with its source and how strongly it points.
E1The FSA Seychelles register of Securities Dealers lists INGOT SC LTD at Unit 3, 2nd Floor, Dekk Complex, Plaisance, Mahe, with trade names INGOT Brokers, INGOT and Rise, phone 4345580, email info@ingot.io and websites ingotbrokers.com, ingot.io and TradeRise.com. Entity, address, phone and domain all match the broker's site.
E2INGOT SC LTD's Terms and Conditions dated 25 June 2025 make INGOT SC LTD the client's counterparty, governed by the law of Seychelles. The site footer states the company holds FSA licence SD117 and does not accept US citizens or residents.
E3INGOT's licences and regulation page says licence SD117 is held by INGOT Global Ltd, while the site footer, the terms and the FSA register all name INGOT SC LTD. The older name has not been updated.
E4CySEC lists Ingot Brokers Europe Ltd (HE 447725, 37 Michail Zavou, Limassol) with licence 462/25 dated 10/11/2025, approved domain ingotbrokers.eu, authorised for order transmission, execution and dealing on own account. It is a sister company and does not serve accounts opened on ingot.io/SC.
E5ASIC's company register shows INGOT AU PTY LTD, ACN 159 895 431, registered on 13/08/2012, status Registered, former name INGOT BROKERS (AUSTRALIA) PTY LTD, registered office in Sydney.
StrongASIC company registerE6ASIC media release 15-333MR (2015) says Ingot Brokers (Australia) Pty Ltd, holder of AFSL 428015, breached its licence's financial requirements by counting funds held as collateral against derivative contracts toward its cash requirement, cooperated with ASIC and rectified the breach in a timely manner.
E7The Jordan Securities Commission's list of companies licensed to deal in foreign exchanges includes Ingot Financial Brokerage as a financial broker for the account of others.
ModerateJordan Securities CommissionE8The Kenya CMA list of licensed online forex brokers includes Ingot Ke Limited, licence 173, website ingotbrokersafrica.com.
E9The Bappebti list attached to the Indonesian Ministry of Trade press release of 19 May 2021 names Ingot Brokers, https://www.ingotbrokers.com/, as item 81 among domains blocked in April 2021 for commodity futures trading without a Bappebti licence. www.ingotbrokers.com now redirects to ingot.io/SC/en-SC.
E10An IOSCO I-SCAN search for ingot returns one alert, published by ASIC on 20 February 2026, about impersonation of Ingot Au Pty Ltd by profitrading-ai.com. No alert names ingot.io or ingotbrokers.com.
ModerateIOSCO I-SCANE11The FCA register returns eight firms for ingot, none linked to INGOT or its domains. The two unauthorised entries are trading names of an unrelated company, Ingoten OU.
WeakFCA registerE12Domain records show ingotbrokers.com registered on 7 February 2007, ingot.io on 25 September 2019 (transferred May 2024) and ingot.help on 29 October 2024, all on the same name servers. www.ingotbrokers.com redirects to ingot.io/SC/en-SC.
ModerateDomain registration recordsE13Trustpilot lists 57 reviews of ingot.io averaging 3.3, with 53% five-star and 37% one-star. Around ten reviews since 2023 describe money not coming back: profitable withdrawals rejected after weeks pending (Oct to Nov 2025, $2,300 to $3,400), an account closed with about $150,000 withheld since 6 Oct 2023 and an FSA complaint filed on 19 Nov 2025, and a 64,858 USDT balance lost after an account takeover the broker blamed on missing two-factor authentication. INGOT mostly replies with a standard message.
StrongTrustpilotE14Clause 4.14 of INGOT SC LTD's terms lets it enforce losing trades but treat trades that leave it owing the client money as void if it believes prices or the platform were manipulated, and withhold the funds, unless the client proves otherwise within 30 days. Clause 4.15 bans scalping, defined as closing positions within 3 minutes, and allows those trades to be cancelled and the account closed.
E15Many Trustpilot reviews praise smooth deposits and withdrawals, but a large share are invited reviews from single-review accounts posted in same-day bursts from Kenya (18 Sep 2025 and 7 to 8 May 2026), and the ratings are split with few middle scores.
WeakTrustpilotE16INGOT's UAE site says INGOT Financial Services LLC holds UAE CMA licence 20200000248 for introduction and promotion only, may not hold client money and introduces clients to INGOT SC LTD.
E17INGOT's funding page says withdrawals take from instant to up to 5 business days depending on the method, while several complaints describe requests left pending for four weeks or more.
The other side
The strongest case in this broker’s favour.
A fair reading is that most complaints are disputes over INGOT's trading rules, not theft.
- INGOT is a real multi-licensed group. Its Australian company has held an ASIC licence since 2013, and its Cyprus company won CySEC authorisation in November 2025.
- Several complaints describe trading its terms forbid: very short trades, weekend-gap trades and, in one case, two accounts where one went negative. Brokers commonly void profits from these strategies, and INGOT publishes its rules.
- INGOT replies to negative reviews and says the $150,000 case went through legal channels. Many clients report smooth deposits and withdrawals.
- The Indonesian block was a licensing measure, not a fraud finding, and the same 2021 list names domains of several well-known international brokers.
- The 2015 ASIC matter concerned how the Australian company counted its capital, and ASIC reported that the breach was rectified in a timely manner.
- INGOT is a target of impersonators: ASIC's February 2026 alert concerns a fake site posing as Ingot AU Pty Ltd.
What would change this
What we would need to see to revise the verdict.
Any of these would move the rating.
- Lower risk: retail clients being served by the ASIC or CySEC licensed companies instead of the Seychelles arm.
- Lower risk: a sustained period with no new reports of rejected profitable withdrawals, and complaint replies that name the rule and trades involved.
- Lower risk: the FSA closing the November 2025 complaint with a finding that INGOT acted within its terms.
- Higher risk: a regulator warning or enforcement action naming INGOT SC LTD, ingot.io or ingotbrokers.com for misconduct toward clients.
- Higher risk: any credible report of INGOT demanding an extra payment before releasing funds.
- Higher risk: the FSA suspending licence SD117, or a new wave of refused withdrawals from clients who did not use short-term or gap strategies.
Check it yourself
Official registers and warning lists. Verify every claim first-hand.
FSA Seychelles register of Securities Dealers
Expand INGOT SC LTD to see its address, trade names and websites.
CySEC entry for Ingot Brokers Europe Ltd
Sister company's Cyprus licence 462/25 and its approved domain.
ASIC company record for INGOT AU PTY LTD
Australian sister company, registered 13 August 2012.
Jordan Securities Commission list of licensed FX firms
Lists Ingot Financial Brokerage.
Kenya CMA list of online forex brokers
Lists Ingot Ke Limited, licence 173.
INGOT licences and regulation page
The broker's own licence statement for the Seychelles site.
INGOT SC LTD Terms and Conditions (June 2025)
Clauses 4.14 and 4.15 cover voided trades and the scalping ban.
Bappebti blocking list, May 2021
Item 81 lists www.ingotbrokers.com.
INGOT reviews on Trustpilot
Client reviews of ingot.io.
IOSCO I-SCAN search for INGOT
Shows ASIC's alert about a fake site impersonating Ingot AU Pty Ltd.
Frequently asked questions
Quick answers about this broker’s safety.
Is INGOT a scam?
INGOT is not a proven scam, but we rate it high risk. INGOT SC LTD holds a genuine Seychelles FSA licence and belongs to a group with licensed companies in Australia, Cyprus, Jordan and Kenya. The risk comes from the offshore licence that covers ingot.io/SC accounts and from repeated reports of profitable withdrawals being refused.
Is INGOT a fraud?
No. We found no evidence of fraud: no regulator has charged INGOT with fraud, and no warning we found accuses it of impersonation or theft. The one official action on record is Indonesia's 2021 block of ingotbrokers.com for offering futures trading without an Indonesian licence.
Is INGOT regulated?
Yes, but which licence applies depends on where you sign up. Accounts on ingot.io/SC are with INGOT SC LTD, licensed by the Seychelles FSA as Securities Dealer SD117. Sister companies hold ASIC licence 428015 in Australia, CySEC licence 462/25 in Cyprus, a Jordan Securities Commission licence and Kenya CMA licence 173.
Which INGOT company holds my money?
If you open an account through ingot.io/SC, your contract is with INGOT SC LTD in Seychelles and is governed by Seychelles law. INGOT's UAE company says it only introduces clients, cannot hold client money and passes clients to INGOT SC LTD.
Can I withdraw my money from INGOT?
Many clients report normal deposits and withdrawals. Since 2023, though, a steady stream of reviews says withdrawals were rejected or profits removed after a winning run, with a spike in October and November 2025. INGOT's own page says withdrawals take from instant to up to 5 business days, while several complaints describe waits of four weeks or more.
Why would INGOT cancel my profits?
Its terms allow it. Clause 4.14 lets INGOT void trades that leave it owing you money if it believes you manipulated prices or the platform, and withhold the related funds, unless you prove otherwise within 30 days. Clause 4.15 bans scalping, defined as closing a position within 3 minutes, and lets INGOT cancel those trades and close the account.
Is my money safe with INGOT?
INGOT says it keeps client funds in segregated accounts and offers negative balance protection. The Seychelles licence, however, carries no investor compensation scheme, so protection is much weaker than with the group's Australian or Cypriot companies. Keep balances modest and withdraw profits regularly.
What is the Seychelles FSA licence worth?
It is a real licence, and the FSA register lists INGOT SC LTD with ingot.io as its website. The FSA is an offshore regulator with light supervision and no compensation fund, and disputes fall under Seychelles law, so treat it as basic protection only.
Who owns INGOT?
INGOT's website names Iman Mutlaq as its founder. The Seychelles licensee trades as INGOT, INGOT Brokers and Rise, and the group has companies in Seychelles, Australia, Cyprus, Jordan, Kenya and the UAE.
How long has INGOT been around?
INGOT says it was founded in 2006 and has more than 20 years of experience. Its original domain, ingotbrokers.com, was registered in February 2007 and its Australian company in August 2012. No company record we found confirms the 2006 date.
Is INGOT a clone, and are there fake INGOT sites?
INGOT itself is not a clone: the FSA register ties its licence to ingot.io and ingotbrokers.com. Fakes do exist. In February 2026 ASIC flagged profitrading-ai.com for impersonating Ingot AU Pty Ltd, so use only ingot.io and portal.ingotbrokers.com.
Why was INGOT blocked in Indonesia?
Indonesia's futures regulator Bappebti blocked www.ingotbrokers.com in April 2021, together with more than 100 other sites, for offering commodity futures trading without a Bappebti licence. It was a licensing measure, not a fraud finding, and the same list names domains of several well-known international brokers.
What should I do if INGOT refuses my withdrawal?
Ask INGOT in writing which clause it is relying on and which trades are affected. Use its complaint procedure, then complain to the FSA Seychelles if your account is with INGOT SC LTD. Keep screenshots, ticket numbers and emails, and ignore 'recovery' services that ask for fees upfront.
Does INGOT accept US clients, and what leverage does it offer?
INGOT SC LTD says it does not accept citizens or residents of the United States. Its Seychelles site advertises dynamic leverage of up to 1:5000, which can wipe out an account very quickly.
What we recommend
The practical takeaway from everything above.
Before depositing, decide which INGOT company you want to deal with and read its terms.
- Accounts opened on ingot.io/SC are with INGOT SC LTD in Seychelles. The ASIC and CySEC licences do not cover them.
- Read clauses 3.6, 4.14 and 4.15 of the INGOT SC LTD terms on withheld funds, voided trades and the 3-minute scalping ban.
- Avoid scalping, weekend-gap trading and hedging across two accounts. These are the cases in which clients report profits being removed.
- Start small, test a withdrawal early, and keep records of every trade, ticket and email.
- Turn on two-factor authentication. One client says their whole balance was taken after an account takeover.
- Use only ingot.io and portal.ingotbrokers.com. ASIC has flagged a fake site impersonating INGOT's Australian company.
- If a withdrawal is refused, use INGOT's complaint procedure, then contact the FSA Seychelles. Ignore anyone offering to recover funds for an upfront fee.
This is an independent assessment of risk, not a legal ruling. Scores and verdicts follow the Wikilix broker-safety methodology and can change as new evidence appears. Review scores are treated with caution when a broker’s reviews look manipulated. Last reviewed November 3, 2026. If any detail here is out of date or incorrect, or you represent this broker, please contact us.
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