FidelityGain – Can You Trust This Broker?

Website URL: https://www.secure.fidelitygain.com/

Founded: N/A

Regulations: Unregulated

Languages: English

Deposit Methods: Bank Wire and Debit/Credit Cards

Minimum Deposit: $500 for Starter Account

Free Demo Account: No

Number of Assets: N/A

Types of Assets: Forex pairs, CFDs on Commodities, Currencies, Cryptocurrencies, Stock indices, Precious metals, over 100 stocks, and ETF (Exchange Traded Funds).

Overview

FidelityGain claims to be a leader in online trading, stating that it has a global presence and many years of experience. The broker offers a range of trading instruments, and offers 3 different account types, and is equipped with both the MetaTrader 4 and MetaTrader 5 trading platforms.

The broker also promises an automated weekly payout that ranges between 5% and 20%.

Trading Accounts and Conditions

There do not seem to be any trading terms and conditions mentioned on FidelityGain’s website. Clients do not know what type of trading, withdrawal or other fees they will be charged when they use this broker’s platform to carry out trades.

Account Types

FidelityGain offers clients 3 account types from which to choose:

• Starter Account: You need a minimum deposit of $500 to open a Starter Account.
• Premium Account: You need a minimum deposit of $10,000 to use a Premium Account.
• Executive Account: You can open an Executive Account with a minimum deposit of $50,000.

The problem here is that there is no information about the leverage levels, spreads or payouts with this broker.

FidelityGain – Advantages

FidelityGain doesn’t seem to have many advantages. However, here are the few that we could find:

• Range of Assets

This broker offers you a wide range of assets to trade on – CFDs on commodities, cryptocurrencies, precious metals, indices, Forex currency pairs, ETFs and more than 100 stocks.

• Trading Platform

This broker offers you both the MT4 (MetaTrader 4) and the MT5 (MetaTrader 5) on which to trade. These are the top two trading platforms in the world. They are easy to use and offer added benefits such as auto-trading bots,

• Range of Accounts

FidelityGain offers clients 3 different account types to choose from.

FidelityGain – Disadvantages

The disadvantages of using FidelityGain as your trading broker are many:

• Anonymity

The FidelityGain website is almost completely anonymous. It has a UK-based contact number and an e-mail ID, but there is no company address given or even company name details.

All legitimate brokers give detailed information with regard to where they are located, how you can contact them and which company runs the brokerage. A lack of such information indicates that this site is not a reliable one and could also be a scam.

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• Licenses and Regulation

FidelityGain claims that it is regulated by the United States Securities and Exchange Commission (US SEC). However, the US SEC does not give out licenses for FOREX trading. That is the purview of the US Commodity Futures Trading Commission (CFTC).

Added to that, a broker regulated by the US financial agencies needs to be a member of the NFA (National Futures Association).

The broker has also claimed that it is regulated by the UK’s Financial Conduct Authority (FCA).

However, upon checking with all three bodies, it was found that FidelityGain is not regulated by either the CFTC or the FCA, and it also isn’t a member of the NFA.

Therefore, its claims about being regulated by the world’s foremost financial regulators are all lies.

• Conflict of Interest

FidelityGain is offering its clients opportunities to invest in cryptocurrencies and offers guaranteed daily/weekly returns.

The problem is that FidelityGain is a market maker, which means that the brokerage makes money every time traders lose. So, if a market maker is managing your account for you, then it becomes a conflict of interest since the broker gains from your losses.

• Trading Bonuses

FidelityGain also claims to offer trading bonuses. These bonuses have been banned across most of the regulated markets across the world. This is because these bonuses are designed to benefit the brokers since there will be added conditions for withdrawal, as well as minimum trade volume (which will be ridiculously high) requirement for you to withdraw your earnings.

Thanks to the seemingly attractive offers, scammers use trading bonuses con more people into using their platform. And then, thanks to the added rules, you will end up not being able to withdraw your funds at all. No Terms and Conditions

There don’t seem to be any terms and conditions offered anywhere on FidelityGain’s website. Terms and conditions are basically a legal contract between you and the broker, and if these are missing from a broker’s website, it is a huge red flag.

Clients who decide to use this broker’s platform to trade are going to end up losing a lot of money since they will have absolutely no idea what they have agreed do.

• No Demo Account

There does not seem to be a demo account on FidelityGain’s website. This means that you cannot assess the spreads offered by the broker or even test the market conditions; you will only know what you get when you start live trading.

Most scammers use this tactic to get traders to open live accounts.

To Sum Up Our Impression of FidelityGain

After going through what FidelityGain has to offer, here is our overall impression of the brokerage.

Conclusion

Everything about this brokerage points towards a scam. FidelityGain has openly lied about being regulated under US as well as UK government agencies. It offers trading bonuses that are banned in most parts of the EU and is indulging in practices that are clearly a conflict of interest.

Our recommendation would be to keep away from this brokerage completely. It has all the hallmarks of a scammer at work. In fact, more and more customer complaints are coming up on the internet by clients who are now struggling to get their money back from the broker.

FidelityGain

3.2

User Experience

3.8/10

Payment Options

3.5/10

Security

3.0/10

Support

2.8/10

Reputation

3.1/10

Pros

• Range of Trading Assets
• Multiple Account Types
• MT4/MT5 Trading Platform

Cons

• Anonymous
• Unregulated
• Conflict of Interest
• Forbidden Trading Bonuses
• No Terms and Conditions