de | cn | ru

FidelityGain Review - is it scam or safe?

FidelityGain review - Is fidelitygain.com scam or good forex broker?

RATING: 1 / 1 REVIEWS ForexBrokerz FidelityGain
FidelityGain is an offshore broker. Your money is not safe.

RECOMMENDED FOREX BROKERS


FidelityGain says to be a recognized leader in online trading with years of experience and a global presence, offering a wide range of trading instruments including forex pairs and CFDs on crypto currencies, commodities, indices, precious metals, ETFs and over 100 stocks, with a choice of three account types, MetaTrader4 and MetaTrader5 platform, and a guaranteed automated weekly payout of between 5% and 20%.

 

Account type Min. deposit Max. leverage Spreads/ Payout
Starter Account $500

n/a

n/a
Premium Account $10 000 n/a n/a
Executive Account $50 000 n/a n/a

 

And FidelityGain also says to be regulated by the  U.S. Securities and Exchange Commission (SEC) and the Financial Conduct Authority in the UK, so this might sound as the perfect broker? 

 

Except that it is not. To start with we are always extra suspicious with anyone who claims to offer guaranteed returns. So it was not a big surprise when it turned out FidelityGain is not regulated as they say and what is even more disturbing, the website is virtually anonymous. So if you are still wondering whether it is prudent to deposit any money with them be sure to read the following lines.

 

FidelityGain Advantages:

 

Non significant

 

FidelityGain Disadvantages: 

 

Anonymous website, falsely claims to be regulated in the U.S. and the UK

 

As we noted FidelityGain claims to be regulated by the  U.S. Securities and Exchange Commission (SEC). The problem, here is that SEC does not issue forex licenses – this is done by the Commodity Futures Trading Commission (CFTC), which should grant the applicant broker a Retail Foreign Exchange Dealer (RFED) and a Futures Commission Merchant (FCM) status. 

 

And a U.S. regulated broker should also be a member of the National Futures Association (NFA). A membership which comes with a hefty fiscal requirement – NFA members should hold no less than 20 000 000 USD in operational capital - practically the same amount as required by the authorities in Switzerland for the Swiss regulated banks. (Besides, this is exactly the reason why so few brokers are authorized to operate on U.S. soil.)

 

Needless to say, but FidelityGain is not regulated neither in the U.S., nor in the UK, where they claim to have a license by the local Financial Conduct Authority (FCA) – we diligently checked the FCA registers and we were not able to find FidelityGain there.

 

So basically what we have here is a unregulated, virtually anonymous website (there is no information about the company behind the broker, not even a postal address), which obviously operates as a scam.

 

Of course in such a case you can always check out our list of FCA regulated brokers, where your money will even be insured by a client compensation fund, basically covering up to 85 000 GBP of the cash in your trading account:

 

>>FCA Regulated Forex Brokers<< 

 

Offering managed accounts, with promises of guaranteed returns

 

And FidelityGain says to be offering investment opportunities in crypto currencies like bitcoin, with guaranteed weekly or daily returns. The issue here is that as most other brokers FidelityGain is a market maker, and that means they make money whenever traders lose. So if you allow a market maker like FidelityGain to manage your account, it will have the incentive to lose your money in its own pockets. This is called conflict of interest.

 

Trading bonuses

 

Apparently FidelityGain offers trading bonuses and that is not something we like as well. The general problem with all trading bonuses is that they always come with additional withdraw conditions, probably some minimum trade volume requirement, which scammers usually use as a pretext to cancel your withdraw requests. That is also the reason why trading bonuses are forbidden as a practice on most regulated markets like the European Union for example.

 

Terms and Conditions missing

 

The Terms and Conditions or the Client Agreement is the legal contract between the trader and the broker. Unfortunately that document was nowhere to be found on the FidelityGain website, so basically if you register a trading account with them you will have to agree with something you have not read.

 

No demo account

 

We were not given the opportunity to open a demo account and that is why we can not comment on FidelityGain's trading conditions. In any case, you can always chose a broker offering tighter spreads from our list below:

 

>> Lowest spread forex brokers<<

 

Skrill not accepted as payment method

 

Despite the collection of logos of various e-wallets displayed on their homepage, as it turned out FidelityGain accepts payments only with crypto coins like Bitcoin and Ethereum, bank wire, Western Union and MoneyGram. 

 

 

No credit cards like VISA and MasterCard are accepted, and this is notable because VISA and MasterCard allow their customers to file for a charge back in case they realize they have been scammed. 

 

And Skrill payments are also not accepted and there is a reason for that too. About a year ago Skrill adopted a new anti scam policy, according which it partners only with legit and regulated brokers. As we already established FidelityGain is just an anonymous, unregulated website. 

 

Besides, here you may check our list of brokers, accepting payments with Skrill:

 

>>Brokers accepting Skrill<<

 

MetaTrader4 and MetaTrader5 not supported

 

Despite what they say, we were no able to download neither MetaTrader4 nor MetaTrader5 from the  FidelityGain website. And we do miss the good old MT4. This is without a doubt the most widely used trading platform in the industry. It features plenty of market indicators and trading robots with the help of which one can easily run automated trading sessions. And what is more, the platform also comes with an advanced pack of charting tools. Here you may pick a broker offering the platform:

 

>>MT4 Brokers<<

 

Fake awards

 

FidelityGain claims to be an award winning broker, but all the purported awards displayed on its homepage turned out to be fake.

 

 

High minimum deposit requirement

 

FidelityGain asks for a minimum deposit of at least 500 USD and that is twice the amount most brokers would require with a standard account. Besides, some big and well known brokers like FBS and IG will let you start trading with just 5 USD or even less.

 

Conclusion:

 

FidelityGain is an anonymous website, which deliberately tries to mislead potential traders and investors that they are regulated both in the U.S. and the UK. So obviously what we are dealing here is a scam website, which we advise you to avoid at all cost. 

 

Our best advise in such cases is to trade only with legit brokers, duly regulated by a reliable financial institution like the FCA in the UK, the Cyprus Securities and Exchange Commission (CySEC) or the Australian Securities and Investments Commission (ASIC). 

Latest news about FidelityGain
No news about FidelityGain. Check back later.
Forex
Broker Country Regulation Platform Min Deposit Review
US CFTC, NFA MT4, Web,
in-house
$50 Review Website
US NFA, CFTC MT4 $250 Review Website
Cyprus, UK, Mauritius CySec, FCA, FSC MT4, MT5, Web $10 Review Website
Australia, Cyprus ASIC, CySEC MT4, MT5, Iress $100 Review Website
Cyprus, Australia CySec, ASIC MT4, MT5 $5 Review Website
UK, Australia, South Africa FCA, ASIC, FSCA MT4, Trading
Station,
NinjaTrader
$50 Review Website
UK, Cyprus, UAE, South Africa FCA, CySEC, DFSA, FSB MT4, MT5, FxPro
Markets,
cTrader
$100 Review Website
Cyprus CySEC MT4, MT5, Web $1 Review Website
Belize IFSC MT4, MT5 $100 Review Website
Cyprus, UK, South Africa, UAE CySec, FCA, FSCA, DFSA MT4, MT5, Web $5 Review Website
Cyprus, UK CySEC, FCA MT4, MT5 $1 Review Website
UK FCA MT5 $5 Review Website
UK FCA MT4, Web, MT4
for Mac
$100 Review Website

Traders` reviews for FidelityGain

Spread

Pros

Cons

 

 

Slippage

Pros

Cons

 

 

Requotes

Pros

Cons

 

 

Price feed

Pros

Cons

 

 

Platform

Pros

Cons

 

 

Deposit/Withdraw

Pros

Cons

 

 

Customer service

Pros

Cons

 

 

Summary

Pros

Cons

 

 

de | cn | ru