Ingot Brokers Commission or Brokerage Charges – Review, Plans, FAQs & moreLast Updated Date: Nov 17, 2022
Get to know everything about Ingot Brokers Commission or Brokerage Charges here.
Ingot Brokers is an Australian forex trading services broker that provides various trading instruments in several markets that include commodities, shares, and currencies.
The broker also allows its traders to invest in cryptocurrency CFDs. The broker is known to execute the trades on behalf of its users.
The company is especially known to the people due to its online trading services.
It offers trades on margin forex contracts and CFDs on Forex futures, cryptocurrencies, commodities, exchange-traded funds, and indices.
In this article, we have discussed these commission charges.
Ingot Brokers Commission or Brokerage Charges
Ingot Brokers is known for its high standards of trading practices, advanced security, wide option for market instruments, professional customer support, and competitive trading costs.
The company was founded in 2006 and has its headquarters in Sydney, New South Wales from Australia. They also have other offices in New Zealand and Switzerland.
However, due to specific legal reasons, the company does not offer trading services to residents of Europe, the United Kingdom, China, the United States, Japan, and some other countries.
The minimum balance or minimum deposit required to open a live trading account with the company is $1,000. They also have developed a demo account for all its traders.
Like the other trading companies, Ingot Brokers charges an amount or a fee from the spread which is basically the difference between the buying and the selling price of an instrument.
- The company’s spread and commission charges start from 5 US dollars and the spread starts from 0 pips.
- The company does not charge any account fee while it charges deposit and withdrawal fees.
- No inactivity fee is charged by the company
Different types of Ingot Brokers Commission or fees are:
Commission: They see that the trader pays the broker for handling the transaction. This mostly depends on the instrument and the account type
Spread: This is the difference between a trade’s bidding price and the asking price. The spread amount is variable and it depends on the market interest rates.
Rollover or swap charges: Swap charges are charged by the company whenever a trader holds a position overnight. It is dependent on the interest rate.
The swap fee starts from 5% per annum for the indices and 2.5% for commodities and cryptocurrencies.
The minimum deposit amount is $1,000 and the maximum leverage that can be charged is 1:500.
This amount is quite low as compared to the other brokers.
The spread charges are mostly variable and the average spread on EUR or USD is 2pips.
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Types of Ingot Brokers Commission Plans
|Types of Commission Plans|
|Account Type||ECN Account||Professional Account||Prime Account|
|Spread||from 0||starts from 1||from 0|
The broker has provided a wide selection of account types each having its characteristics and advantages. For beginners, the company has even developed entry-level accounts or those with little capital investment.
Gradually with the increase in account deposits, the advantages are increased and the experience level also increases.
So the three types of trading accounts provided by Ingot brokers are:
The minimum opening balance of the initial deposit amount is $100, the spread charges start from 0 pips, the commission is about $7 and the maximum level that can be charged is 1: 200.
The initial deposit amount of the minimum deposit amount is $100, the spread starts from 1 pip, no commission is charged and the maximum leverage that can be charged is 1:500.
The initial deposit amount or the minimum deposit amount has to be 25,000 US dollars, the spread charges start from zero pips, a minimum of $5 is charged as commission and the maximum leverage is 1:100.
The broker is also known to provide an Islamic swap-free account for all Muslim traders.
The traders who have access to this account do not need to pay any overnight or swap fee as this is against religious beliefs according to the Sharia law.
A Demo account has also been developed for all the traders.
The demo account is loaded with virtual currencies or dummy money with which the traders can practice trading as long as they want.
The traders are allowed to try out various trading strategies to sharpen their trading skills.
All the premium features of the live trading account are available in this demo account.
Ingot Brokers Account Opening Process
In this section of the article, we have discussed all the necessary steps that you need to follow to open a trading account with the company.
The process is quite simple and is not at all time-consuming.
- On the first step, you have to visit the official website and click on the open a trading account tab.
- And you would be redirected to a new tab which is the application tab. You have to fill up all the necessary details like name, address, phone number, account type, and various other features and then click on submit.
- After successful submission, an executive from the company will contact you for the verification process. Now you have to go with the EKYC process where you have to verify your identity by submitting a scanned copy of the government authorized identity card
- After successful EKYC verification, your trading account will be opened and your password and ID would be sent to your email address.
- Now you can enjoy trading and gain profit as much as possible.
Ingot Brokers Payment or Withdrawal Methods
|Deposit Options||Credit Card, Cryptocurrencies, Neteller, Skrill, Wire Transfer|
|Withdrawal Options||Cryptocurrencies, Neteller, Skrill, Wire Transfer|
The company has added various payment methods and these payment methods are usually available in most countries.
In case none of the methods is allowed in your country you can contact the authorities at Ingot Brokers for support.
The company at times might charge payment or withdrawal fees and this will be less known to the user at the very beginning.
- Deposit Method: Credit Card, Cryptocurrencies, Neteller, Skrill, Wire Transfer
- Withdrawal: Cryptocurrencies, Neteller, Skrill, Wire Transfer
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Ingot Brokers Investment Assets
|Supported Cryptocoins||bitcoin, bitcoin cash, ethereum, litecoin, ripple|
|Total Tradable Assets||1000|
|Number Of Currency Pairs||30|
|Number Of Cryptocurrencies||4|
|Number Of Stocks||350|
|Number Of Indices||7|
|Number Of Commodities||7|
|Number Of Futures||8|
|Number Of Options||NA|
|Number Of Bonds||NA|
|Number Of ETFs||32|
The traders who have opened a trading account with the company are allowed to trade in various assets.
The process of treating is pretty simple and the traders can use all these trading instruments to trade in various assets.
All the transactions and the trading can be done directly from the mobile trading applications, the various trading platforms, and the official website of the company.
The traders are allowed to invest in various assets that include:
- The traders are allowed to invest in currency trading, commodities trading, indices trading, stock trading, and cryptocurrency trading.
- The company also supports cryptocurrencies that include Bitcoin, Bitcoin-cash, Ethereum, Litecoin, Ripple.
- The total number of tradable assets are 1,000
- The number of currency pairs that are available for trading is 30, the number of cryptocurrencies is four, the number of stocks is 350, the number of indices that can be traded is 7, the number of commodities that can be traded in is 7 and the number of futures in which the users can trade-in is about 8.
- The Traders are allowed to invest in ETFs which is about 32 in total.
Ingot Brokers Commission – Conclusion
Ingot Brokers is completely secure and is monitored by the ASIC.
For the protection of the customer funds, the company keeps all the client funds in a segregated bank account and they use one bank for this purpose.
Like most of the other trading companies, Ingot Brokers also has various commission charges that include spread and overnight charges.
Ingot Brokers is one of the most popular online traders based in Australia.
The trader is one of the top online trading services providers and is monitored and controlled by the ASIC.
The broker offers trading in about 1000 credible assets on the various trading platforms (MT4 or MT5).
As it is an online broker the company promises competitive charges thus making it popular both among professional and beginner level traders.
Check Articles on Forex Commission & Plans
Ingot Brokers Charges or Fees – FAQs
Here is the list of FAQs related to the Ingot brokers brokerage charges or fees:
Do Ingot Brokers charge commission?
Yes, the broker charges specific commission charges which are dependent on the type of trading account or the trading instrument that you are opting in for.
The commission charge for the ECN account is $7, and for the Prime account is $5.
How much do Ingot Brokers charge brokerage?
The brokerage amount or the brokerage charge also varies depending on the type of trading account or the tradable asset. For more details, you may contact customer care or you can visit the official website.
What is the Minimum Deposit required in Ingot Brokers?
The minimum deposit required to open a trading account with the company is $100 and the minimum balance also increases higher trading accounts.
How much leverage do Ingot Brokers provide?
The leverage amount also depends on the type of trading account or the asset that you are trading in. The average leverage charged by the company is about 1:500.
How much is Spread at Ingot Brokers?
The spread amount is variable and it depends on the market rate and the instrument with which you are treating. Usually, the spread charges are variable.
What type of Commission Plans are available in Ingot Brokers?
The company provides three types of commission plans
One is the ECN account, the second is the professional account and the last one is the prime account.
The first and second type of reading account is usually for beginners as the investment is quite less. The prime account is mostly favored by professional-level users.
Do Ingot Brokers provide Cryptocurrency for Investment?
Yes, Ingot Brokers allow the traders to invest using and in cryptocurrencies.
Some of the cryptocurrencies in which the users can trade are Bitcoin, Bitcoin-cash, Ethereum, Litecoin, Ripple. okersrokers
Are Ingot Brokers a legit Forex Broker?
Yes, the company is a legit forex broker as it is regulated and monitored by ASIC and various other governing bodies.
The client funds are also kept in segregated tire one bank accounts.
Can I invest in Ingot Brokers with $5?
The minimum investment amount is $100. So you are not allowed to open a trading account with $5 as your minimum balance.
Are there any hidden charges available with Ingot Brokers?
The company promises complete transparency and if there are any charges the company will let you know as soon as possible.
The company at times charges is known to charge a specific rate on deposits or withdrawals.
This amount will be informed to you before you continue with the payment process.
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