Many traders are seeking the answer to whether Ig-canada.com is a scam or not. My review will not only give you a precise answer to that question (yes, it is an illegal and fraudulent broker), but also provide strong reasons why this is the case. Brew some tea, make yourself comfortable, and find out why you should not trust your money with such a platform.
- Ig-canada.com General Information
- Registration and Client Portal Review
- Trading Environment
- Account Types Review
- Trading Terminal
- Deposit and Withdrawal
- KYC Procedure
- Additional Widgets
- Signals
- Promotions
- Is Ig-canada.com a Scam?
- Legal Information and License
- Domain Info
- Contacts Review
- More Details
- Pros and Cons
- Frequently Asked Questions (FAQ)
Ig-canada.com General Information
| Website | https://ig-canada.com/ |
| Phone Number | +16478468036, +447441921525 |
| support@IG-Canada.net | |
| Address | Quai du Mont-Blanc 29 Suite 3009 1201 Genève, Switzerland |
| License | — |
| Minimum Deposit | $250 |
| Assets | Stocks, indices, commodities, forex, cryptocurrency |
| Leverage | 1:600 |
| Trading Platform | WebTrader |
Registration and Client Portal Review
The review will begin by examining the official website, as this is the first point of contact for every user. Moreover, the resource should be easy to study and simple to navigate, but Ig-canada.com cannot be described as such.
The site is overloaded with huge walls of text, which complicates the process of information retrieval. It’s unlikely that users are prepared to spend so much time reading tons of pages filled with meaningless text. Apparently, the creators were not familiar with the concepts of conciseness, visual presentation, and other methods of providing quality information.
The broker introduces us to its account types and trading signals, traded market classes, benefits, some facts about its activities, additional tools, contacts, and promotions. For some reason, images depicting retirees are used throughout, as if this were a pension fund site rather than a brokerage firm.
The visual design is weak and almost nonexistent. Plain black text on a white background using bright red and blue colors complicates navigation, as the bright red shade is harsh on the eyes.
Overall, Ig-canada.com has presented a low-quality site, although it is done in a non-standard and unique template. However, this does not speak to the seriousness of the firm.
The next aspect is the personal account area and the registration process. The registration process is quite simple and understandable, and it should not pose any difficulties for clients. By the way, I recommend not providing your real contact details, as they may fall into the wrong hands, and you will then suffer from spam calls.
The confirmation email for registration did not arrive, and to access the personal account, it was necessary to re-enter the email and password. It turns out that the client portal and the trading platform are essentially the same, basically two in one. Such a solution can hardly be called convenient.
The interface of the personal account is standard. Clients have access to all basic operations from editing personal data to verifying identity. However, I did not notice that Ig-canada.com offered a demo account. Therefore, it likely does not exist here, which means that to practically test the platform, you will have to invest real money. This situation is unlikely to please beginners.
Trading Environment
The first impression is quite negative; now, I will move on to more important aspects, namely the trading conditions. Let’s consider what types of accounts are available to traders, what the platform entails, and other details.
Account Types Review
Ig-canada.com offers a wide variety of account types, with seven options available. The first type of account is accessible with a deposit of $5,000 or more, but the homepage states a minimum deposit of $250, which contradicts the information in the tariff plan descriptions. In any case, the firm requires substantial initial capital to begin trading, and it’s important to note the absence of a demo account.
The first tariff includes leverage of 1:100, 5 signals per week, access to an educational center, support from a personal manager, and standard spreads. The better the account type, the more signals traders receive, the higher the leverage (up to 1:600), and the more favorable the spreads. Additional services follow:
- Access to exclusive groups.
- Webinars.
- One-to-one educational meetings.
- Risk-management planning.
- Insurance.
- Trading rooms.
- And others.
Ironically, the name chosen for the minimum package is “Test Drive”, but the required amount is $5,000 — hardly what one would expect for a test drive. Furthermore, a leverage of up to 1:600 appears to be a clear violation of norms set by financial commissions. Also, hidden fees and unspecified spreads prevent me from fully characterizing the trading conditions at Ig-canada.com.
In short, the conclusion that can be drawn is this — the broker attempts to extract as much money as possible from clients, while it is impossible to determine how beneficial trading here really is.
Trading Terminal
The platform is neither interesting nor multifunctional. The tools and charts are sourced from the well-known service TradingView, but a classic version with the same capabilities and options is also available. However, traders will not be able to connect advisors for auto-trading or upload their own settings and templates. Unfortunately, such actions are not supported.
To the left of the main window, there is a list of available instruments, and to the right, a panel for creating orders. Judging by the interface, the Ig-canada.com terminal allows not only for market orders but also for limit orders. Stop-losses and take-profits are available, as well as functionality for copy-trading, and two color themes.
Another drawback of the platform is the absence of mobile and desktop versions. At least, there are no download links available anywhere. It should be noted that serious intraday trading is predominantly possible on a desktop version. Moreover, many traders prefer to trade on mobile versions, but these are not supported here.
Deposit and Withdrawal
Details on deposit and withdrawal methods can only be viewed in the personal account. By the way, it is important information that should necessarily be disclosed on the official website.
According to the personal account, Ig-canada.com supports only bank cards for depositing funds, as this method is the only one listed in the “deposit” section. Withdrawals can be executed in more varied ways:
- Credit/debit cards.
- Bank wire transfers.
- Crypto (BTC, ETH, or USDT).
The size of commissions and other data are unknown. Thus, the company does not properly disclose information regarding the financial operations.
KYC Procedure
According to the presence of an AML & KYC document, the verification process is mandatory. In the client portal, there is a separate section where users can upload documents for KYC. It contains four sections:
- Proof of identity.
- Proof of residence.
- Additional documents.
- Proof of payment.
If you click on a specific section, a window will pop up listing the documents supported for upload. Therefore, the verification process at Ig-canada.com is quite straightforward.
Additional Widgets
Traders have access to additional options that can be very useful. These include an economic calendar, financial news, terminology, and educational materials. However, this does not make the broker better because such tools are available at any serious organization.
Signals
The firm specializes in providing signals that are available to all clients, with more signals supplied each week the higher the tariff plan.
Promotions
The company also offers various promotions. For example, the firm offers passive income on deposit balances up to 4.5% and cashback up to $10,000. Ig-canada.com regularly offers a credit deposit, a referral program where a bonus of $200 is paid for each referred partner, and rebates for traded volume.
Is Ig-canada.com a Scam?
Definitely, it is a scam. It was immediately clear what this platform was all about. Even without considering the actual duration of operation and licenses, the trading conditions clearly show that it is not advisable to trade here.
However, for a complete picture, it is necessary to examine crucial data: licenses, business model, duration of operation, etc. Let’s do it.
Legal Information and License
First, we need to address regulation. The website does not mention this, regulators are not mentioned, and there are no license numbers. It suggests Ig-canada.com is operating illegally.
The headquarters is located in Switzerland. I can even check the registry of the FINMA financial commission, which is responsible for controlling brokerage companies in Switzerland, and there will be no such broker listed. The screenshot below confirms this.
Moreover, if the organization is based in Switzerland, it should be in the register of legal entities, right? Then why was Ig-canada.com not found by me? How can scammers explain such a fact? They cannot. In reality, such a firm simply does not exist; that’s the whole answer.
Domain Info
Domain information is very useful. It can indicate when the platform actually began serving clients. Ig-canada.com was registered on January 23, 2024, so the broker cannot be called old and tested. It has only been a few months, during which it is impossible to create a reputation as a reliable brokerage intermediary and attract a multimillion-dollar audience of traders.
Contacts Review
Now, contact information. Scammers often provide fake details on their websites. However, the broker does provide real information, at least an email address. A special service showed that the email actually exists.
In the site’s footer, there are logos of social networks (YouTube, Facebook, Twitter, and Instagram). However, these are just logos that do not even lead to accounts. Why were they attached?
More Details
The company has an interesting name. Moreover, the interface and design of Ig-canada.com look very similar to another firm known in the forex industry. Compare the official site of this broker with the site ig.com. It seems likely that the fraudsters were inspired by the popular intermediary IG, even choosing a similar name. However, such an approach is unlikely to help them attract clients’ attention.
It is also worth mentioning the lack of an explanation about the business model used. This is an important aspect because there is no sense in cooperating with a dealing desk, as it is interested in clients’ losses. Meanwhile, Ig-canada.com is exactly a dealing desk that processes client orders internally, although a real intermediary should route them to liquidity providers, thereby avoiding a conflict of interest.
Pros and Cons
- Various additional features.
- The office address provided is fake.
- There is no license.
- Trading conditions are worse than other brokers.
- The platform was launched very recently.
- There is no trust or reputation.
- High risk of losing money.
I hope you have no doubts that it is a typical fraudulent organization created for one purpose — to steal money from trusted traders. I recommend not investing money here, not opening an account, that is, not interacting with this fake platform at all. You will save not only your money but also your nerves and time.
Frequently Asked Questions (FAQ)
The broker offers CFDs with leverage. Clients have access to a web platform with basic options.
According to the trading conditions, it is sufficient to have $250 to start trading here. However, another amount, $5,000, is mentioned in the tariff description. It is unclear which amount is actually required for trading.
No, the company is not safe. There are no licenses, and the stated Swiss address is fictitious. Moreover, there are other red flags, so the platform is very dangerous and it is not worth risking money here.
A dubious platform
Hmm, I don’t understand how Ig-canada.com attracts traders. It seems to me that this is not quite a suitable intermediary for forex. IMO, but there are companies with much better conditions. Here, there’s 100% fake liquidity, in other words, a dealing desk. Moreover, the firm is suspected of fraud. In general, I definitely would not invest a deposit here.
They're scamming people out of money
These are just ordinary scammers. The managers told me that the company has been in the market for a long time, has a lot of experience, security, and other reliability factors. They promised to provide signals with a win ratio over 80%, but in reality, these signals were almost always unprofitable.
I invested $7K here, and then it dwindled to $3K, that is, a loss of $4 thousand dollars. No profit, only losses. After that, I started demanding to get the remaining funds back, but the scammers stopped communicating. In general, this is how I lost my money. First, I lost $4K on unprofitable signals, and then they don’t want to return the remaining $3K. Meanwhile, I don’t even know whom to complain to, because scambroker has no regulator.