ingot.io Features

Ingot.io presents a suite of features designed to facilitate online trading in the CFD and Forex markets.

While these features might appeal to conventional traders, their application within an ethically problematic framework (due to Riba, Gharar, and Maysir) means that even well-implemented features cannot redeem the fundamental impermissibility of the activity itself.

The platform highlights various instruments, trading platforms, and resources, all geared towards speculative trading.

Diverse Range of Tradeable Instruments

Ingot.io boasts over 1000 financial instruments available for CFD trading.

This wide selection is designed to cater to various market interests and allow traders to speculate on different asset classes.

• Currencies (Forex): The most common offering, allowing speculation on exchange rate movements. This involves highly liquid markets but also high volatility and often significant leverage. According to data from the Bank for International Settlements (BIS), the Forex market trades over $7.5 trillion daily as of April 2022, making it the largest financial market globally.
• Stocks (CFDs on Equities): Instead of buying company shares, traders speculate on their price movements. This allows exposure to global stock markets like the NYSE, NASDAQ, and LSE without actual ownership.
• ETFs (Exchange Traded Funds): CFDs on ETFs allow speculation on a basket of assets, providing diversification without direct investment in the underlying funds.
• Agricultural Commodities: Instruments like corn, wheat, and coffee are offered, allowing speculation on their price fluctuations, often influenced by supply and demand, weather, and geopolitical factors. The global agricultural commodities market value reached approximately $1.1 trillion in 2022.
• Indices: CFDs on major stock market indices (e.g., S&P 500, Dow Jones, FTSE 100) allow traders to speculate on the overall performance of a market segment or economy.
• Metals: Precious metals like gold and silver, often considered safe-haven assets, are available for CFD trading. Gold prices, for example, have seen historical volatility, with a peak near $2,450 per ounce in May 2024.
• Energies: Speculation on crude oil, natural gas, and other energy products, influenced by geopolitical events and global energy demand. The global crude oil market size was valued at $2.5 trillion in 2023.

Multiple Trading Platforms

The platform supports industry-standard and proprietary trading interfaces to cater to different trader preferences and needs.

• MetaTrader 5 (MT5): This is a widely recognized and robust multi-asset trading platform. It offers advanced charting tools, technical indicators, and automated trading capabilities (Expert Advisors). MT5 is known for its speed and analytical depth, preferred by more experienced traders.
  • Features: Enhanced charting capabilities, deeper market analysis tools, more timeframes, and greater order types compared to its predecessor.
  • Usage: Popular among retail Forex and CFD traders globally, with millions of users.
• INGOT Copy Trader: Designed for beginners or those preferring a hands-off approach, this platform allows users to automatically copy the trades of more experienced or “expert” traders.
  • Concept: Leverages the strategies of successful traders, reducing the need for individual market analysis.
  • Risk: While seemingly simple, copying trades still exposes users to the inherent risks of CFD trading, and past performance is not indicative of future results. Losses incurred by the expert are mirrored in the copy-trader’s account.
• INGOT Mobile App (Coming Soon): The website indicates mobile apps for iOS and Android are “Coming Soon.” This is a significant point of concern, as the domain was created in 2019, and the lack of readily available mobile applications in 2024 for a modern trading platform suggests either development delays or a lack of investment in crucial accessibility.
  • Implications: Hinders on-the-go trading, limits accessibility, and contrasts with the standard offerings of established brokers.
  • Market Trend: Over 60% of global internet traffic originates from mobile devices, highlighting the critical importance of mobile apps for any digital service.

Educational Resources and Market Tools

Ingot.io provides a “Resource Hub” with various tools and educational content, aimed at helping traders analyze markets and understand trading concepts.

• Economic Calendar: Tracks significant economic events and data releases that can influence market prices. Used by traders to anticipate volatility.
• Autochartist: A market scanner that automatically identifies trading opportunities based on chart patterns and key levels. It helps in technical analysis.
• Calculators: Tools for calculating pip values, margin requirements, and potential profits/losses, essential for risk management in leverage trading.
• Video Tutorials & INGOT Glossary: Educational content designed to teach trading fundamentals and define financial terminology. This is crucial for new traders to grasp complex concepts, though it cannot mitigate the inherent risks or ethical issues.
• Market News and Announcements: Provides real-time updates and analyses of market-moving news events. Access to timely information is vital for informed trading decisions.

“Zero Zero Zero” Pricing Model

The claim of “Zero Commission, Zero Deposit Fees, Zero Withdrawal Fees” is a key marketing point for ingot.io. ingot.io Review & First Look

• Hidden Costs: As discussed, the profit is likely embedded in the spread, and overnight swap fees still apply, which are interest-based. It’s imperative for users to understand these indirect costs.
• Transparency vs. Reality: While the direct transaction fees are stated as zero, the economic reality of how the broker makes money means users are still paying, just not in explicit commission form. This model, while common in the industry, can be misleading if not fully understood.

Despite the comprehensive array of features and tools, the foundational problem with ingot.io lies in the impermissibility of CFD and Forex trading itself from an Islamic ethical standpoint.

The presence of Riba through swap fees and leverage, Gharar due to excessive uncertainty, and Maysir through speculative gambling nature makes these features ultimately irrelevant for a Muslim user seeking ethical financial engagement.