IGC Markets states on its homepage that it isn’t regulated, but carries out all the necessary regulatory obligations just like regulated brokers. Besides, it claims it is operated by MaxxMedia LLC, a company registered in Saint Vincent and the Grenadines (SVG) Financial Services Authority (FSA). We checked with MaxxMedia on SVG FSA website, and there is a result. However, as a forex trader, you have to know that the SVG FSA does not issue any licenses for forex trading or brokerage nor does it regulate or supervise international companies engaging in such activities. Therefore, IGC Markets is an offshore and unregulated entity.
What's more, based on the information we hold, the firm was warned by two global regulators, giving the reason that IGC Markets is an unregulated broker, and operates and attracts clients without any legal licenses before.
The first warning was from UK FCA. The watchdog punlishes IGC Markets is not authorised to provide the investment services in the country.
The second warning came with Austria FMA. The regulator warns against IGC Markets/ MaxxMedia LLC. This firm is not authorised to carry out banking transactions in Austria that require a license. The FMA warns investors against concluding transactions with this provider.
If a broker is not licensed by the regulatory authority in your jurisdiction, that likely means that it is unregulated and should be avoided. So IGC Markets is just an unregulated forex broker, which means your money are not protected, and there is highly likely it will get away with your hard earned money and there will be no regulating agency to hold it responsible. Therefore, IGC Markets is a scam broker.
IGC Markets states on its homepage that it isn’t regulated, but carries out all the necessary regulatory obligations just like regulated brokers. Besides, it claims it is operated by MaxxMedia LLC, a company registered in Saint Vincent and the Grenadines (SVG) Financial Services Authority (FSA). We checked with MaxxMedia on SVG FSA website, and there is a result. However, as a forex trader, you have to know that the SVG FSA does not issue any licenses for forex trading or brokerage nor does it regulate or supervise international companies engaging in such activities. Therefore, IGC Markets is an offshore and unregulated entity.What's more, based on the information we hold, the firm was warned by two global regulators, giving the reason that IGC Markets is an unregulated broker, and operates and attracts clients without any legal licenses before.The first warning was from UK FCA. The watchdog punlishes IGC Markets is not authorised to provide the investment services in the country.The second warning came with Austria FMA. The regulator warns against IGC Markets/ MaxxMedia LLC. This firm is not authorised to carry out banking transactions in Austria that require a license. The FMA warns investors against concluding transactions with this provider.If a broker is not licensed by the regulatory authority in your jurisdiction, that likely means that it is unregulated and should be avoided. So IGC Markets is just an unregulated forex broker, which means your money are not protected, and there is highly likely it will get away with your hard earned money and there will be no regulating agency to hold it responsible. Therefore, IGC Markets is a scam broker.
