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Gainsy Review - Is it scam or safe?

Gainsy Review - is gainsy.com scam or good forex broker?

RATING: 1.6 / 0 REVIEWS Gainsy
Gainsy is an offshore broker. Your money is not safe.

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Trading Accounts & Conditions

 

Account type Minimum deposit  Min. trade size Maximum leverage Average Spreads    
Classic STP $10 0.01 1:500 0.8 pips + $4 / lot
ECN $10 000 0.01 1:100 From 0 pips+ $4 / lot

 

Gainsy offers its clients two basic account types – STP & ECN. Both accounts are said to provide NDD execution, variable spreads with small commission fees, and micro tradeable lots on the industry’s standard MT4. Besides, swap-free accounts are also available to clients of Islamic belief.

 

In addition, Gainsy offers account management (PAMM) services.

 

Indeed, this broker’s offerings seem attractive: competitive variable spreads, low commission fees and initial deposit required, high leverage levels, reaching 1:500. Trading costs per standard lot for the EUR/USD pair amount to around 1.2 pips (spread + commission), which is a competitive pricing. Yet, it falls within the range of 1.0 – 1.5 pips for this pair, which is the industry’s average. For further information and comparison, you may check out real-time spreads of 15 leading brokers here.

 

Nonetheless, we don’t recommend Gainsy, as the most important thing when choosing a forex broker is its reliability and regulation.

 

The Company. Security of Funds

 

Company

Country

Regulation

Gainsy INC.

N/A

N/A

 

Online since 2012, Gainsy claims to be a pure No-Dealing-Desk (NDD) brokerage, offering online trading in a wide range of financial assets, including a number of currency pairs and various CFDs on the popular MetatTrader 4 platform.

 

Behind the brand is Gainsy INC. There is’t any information on the broker’s website as regards to its location and regulation. Obviously, Gainsy is not licensed by any regulator, and you should keep in mind that investing with a non-regulated broker is a risky business. These companies can easily manipulate the trading software, delete your profitable trades, and do whatever they like with your hard-earned money. Besides, there are two FPA Traders Court Guilty verdicts against Gainsy in the forexpeacearmy site (FPA) and the FPA recommends against doing business with this broker.

 

So, we would advise you to select among brokers licensed by the respective authorities in the UK, Australia for example.

 

Trading Platforms

 

Gainsy the popular MetaTrader 4 (MT4), available as a desktop and mobile versions. It also offers it in-house Gainsy platform, however the PC version is currently offered to institutional clients only and the web version is intended solely to ECN account holders.

 

MT4 has been in use for over 10 years now and has proved to be stable and reliable. The platform has many functionalities and add-ons that have been developed over the years – most notably Expert Advisors, which allow full automatization of trades, and technical analysis indicators. MT4 also provides advanced charting tools and extensive back-testing environment. 

 

Bonuses & Rebates

Gainsy offers a 30% bonus on each deposit to Classic account holders for a period of 3 months and other promotions.

 

Methods of Payment

 

Clients of Gainsy are offered the following payment modes: credit cards, bank wire transfers, and e-wallets Skrill, Neteller, CashU, WebMoney, and China UnionPay.

 

Conclusion

 

Gainsy is a forex and CFD broker that is said to utilize pure NDD execution. Its trading conditions may seem attractive, however it is not regulated by any authority. To sum up the above: 

               

Pros Cons
Competitive spreads Not regulated
ECN/STP execution model   
Low minimum initial deposit  
MT4 + in-house platform available  

 

Latest news about Gainsy
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Traders` reviews for Gainsy

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