An Extensive Review of IG-Canada.com

One of the best ways to avoid losing money to scam trading platforms is by reading independent articles that reveal the truth about a given company. In this IG-Canada review, you will learn about the broker’s disadvantages and advantages and understand why you should not trust this organization. Many traders have left negative reviews about this company, and here’s why.

Is IG-Canada.com a Trusted Broker?

Not every trader knows how to spot a scam broker. It’s important to pay attention even to small details, like the design of the website’s main page and the presence of useful information. When examining IG-Canada.com, concerns about its operations arise immediately. The company posts pictures of happy people instead of certificates and achievements in trading. There is a lack of useful information altogether.

The minimum deposit amount may seem too high for beginner traders. Most licensed brokers tend to lower this threshold, but this platform requires a $250 deposit in a single payment. It positions itself as reliable and affordable, but based on the cost of its plans and deposit amount, it’s clear that the broker targets wealthy clients, giving no chance for beginners to get accustomed to trading.

IG-Canada.com emphasizes a wide range of trading instruments, but it’s impossible to find what exactly becomes available after funding an account. Most likely, the platform offers the same set of services available with any other broker.

Another point to consider is the currency exchange discounts. It’s unclear how this is possible because if the exchange offers a 25% discount to its clients, it would incur a loss, especially if the trader closes deals profitably. It seems that IG-Canada.com never plans to pay out funds to its clients from the start.

The broker cannot be found in the Switzerland regulator’s database (the region where the project claims to be registered). It should be noted that obtaining an FINMA license is quite difficult, and not every broker passes all checks. But even based on the trading conditions, it’s easy to see that IG-Canada.com does not adhere to the established regulations and is not under the supervision of the FINMA.

IG-Canada.com is an obscure broker. It is not popular among experienced traders because most understand that this project is fraudulent. The platform is not advertised on social media, and people learn about it through friends or acquaintances. Do not trust this platform, as its reputation is solely built on negative reviews where defrauded traders share their experiences.

Concerned About Withdrawal?

As mentioned earlier, the minimum deposit amount on the platform is $250. An account with the most basic features will cost the trader $5,000. Moreover, you cannot find out about the available deposit and withdrawal methods before registration, as the owners hide this information. It is impossible to talk about the reliability and security of transactions if the client does not even know how to deposit and withdraw funds.

Of course, you can contact support and try to get this information from an operator, but there is no live chat on the platform, and the response time is long since the only available method of communication is email.

How Long Does The Broker Work?

Like most fraudulent organizations, the IG-Canada.com website does not provide any information about the project’s start date. This information can only be obtained through the specialized service Whois. According to its data, the platform started its activities on April 8, 2024.

Other Signs of Fraud

❗Excessive leverage. Regulators prohibit high leverage because it poses enormous risks to the client. You can lose your deposit in seconds if you make a leveraged trade. This broker offers users a leverage of 1:600 (available on the premium plan), which naturally raises doubts about the organization’s legality.

❗Bonuses and cashback The broker actively attracts clients through a bonus program, a practice usually associated with bookmakers and casinos. Regulators restrict the use of bonus programs, which, according to statistics, are only found in fraudulent companies.

❗Rarely responsive support service. Clients who regularly perform trading operations often encounter various difficulties that need to be resolved quickly. Even a one-minute delay can result in significant financial losses due to a malfunction or any other issue, but reaching an IG-Canada.com operator is very difficult.

IG-Canada.com Review Conclusions

Working with a broker that offers the best trading conditions but does not disclose the terms can lead to financial losses. IG-Canada.com has received numerous reviews with a rating of 1 out of 5, and it is not worth trusting this platform.

➕Fast registration

➖Too many bonuses

➖Referral program

➖Lack of a license

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