FidelityGain

March 17, 2023 63 0

Provides a Bundle of Misleading and Fake Information

FidelityGain is a broker company based out of London, the U.K. There is no information available about the ownership. While checking the company registration on its website link, the certificate uploaded on it is with the name of VISUALHYIP LIMITED. No authenticity of the certificate can be established here.

The company is operating through 2 different websites. (https://invest.fidelitygain.com/?a=home) and (https://www.secure.fidelitygain.com/international/za/).

FidelityGain has no active license for its operations against its claims regulated by the United States Securities and Exchange Commission (USSEC), as the USSEC does not give any licensees to forex trading companies.

Up to now, we have established that the company does not have any regulation from the US States Securities and Exchange Commission and is misleading its customers with the wrong information. It claims to be based out of the UK but is not regulated under any agency.

You must not wonder why there are so few broker companies operating in the US. For getting a regulated status from US agency, Commodity Futures Trading Commission (CFTC), any company has to follow and fulfill the mandates set by the commission. After strict check and satisfaction only, companies are allowed the statuses of a Retail Foreign Exchange Dealer or a Futures Commission Merchant.

Then comes, the second claim of being registered with the FCA, which is the UK’s forex regulation authority. While writing this FidelityGain review, I couldn’t get any details of FidelityGain in the regulated companies register of the FCA. The screenshot of the same is provided below.

FidelityGain is absent on FCA's database — FidelityGain isn’t regulated by FCA

An offshore forex trading company which is misleading its stakeholders with no proper address, wrongful regulation information, and fake certificates is not at all a trusted trading partner.

Services of FidelityGain

It is mentioned on the website of the company that their main activity is mining of the cryptocurrency. The second website of the company states that it is into forex trading and CFDs as well. The company thus smashes its claims of being a leader in online trading.

The website unapologetically, claims to be providing its traders a 30% return on investment daily which amounts to a 900% profit which is far beyond reality. Had the FidelityGain team worked more on its services and genuine information on its portals, there would have been no requirements of fake claims to attract the traders.

Trading Accounts

FidelityGain provides no demo account to the budding investors. An unregulated broker with no demo account facility will land you in troubled waters only.

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About the live accounts, the company is believed to offer 3 different trading accounts. Another surprise here is the non-availability of details related to leverage spread and payouts associated with all of the accounts. Likewise, the trading accounts are:

Starter Account: It is supposed to be the basic account with a minimum initial deposit of $500. That’s too high for an unregulated offshore broker and that too without any details of the leverage ratio and spreads.

Premium Account: These are the level 2 accounts. You have to shed a minimum of $10,000 to open a premium account with FidelityGain. Again, no information about anything else is provided by the company.

Executive Account: Nothing much is available to share here except for the rise of initial minimum investment required to $50,000.

No information about the leverage ratio, spreads, no trading conditions, rules, and regulations is provided by the company. No PAMM accounts or IB accounts are provided. There is a referral system offer at the website.

Referral system of FidelityGain — The referral system of FidelityGain is only to trap more traders

With no basic information about the services and the trading conditions, the basic question is like how can someone refer to another person if the things are not clear to him?

Trading Platforms:

Interestingly, the company has not mentioned anything about the trading platforms as well. There is no link present for the online trading trusted player MetaTrader 4 or MetaTrader 5 download.

Meta Trader is the undisputed ruler of trading platforms. Released by MetaQuotes Software in 2005, it is providing full technical trading services along with 24*7 support. Mobile trading, automated trading, trading signals, algorithmic trading, etc. are the basic features of MT4. FidelityGain increases our suspicion as it is not compatible with the basic player of trading platforms. We aren’t surprised, if we come to know soon that MetaTrader might have banned its services to suspicious offshore brokers.

No information on the trading platform will definitely lead to a loss of good trading interests.

Modes of payment:

There are again fake logos flaunting the website of the company but it only accepts bitcoin, bank wire, Ethereum, Western Union, Moneygram, etc. for depositing money into trading accounts. No availability of credit/debit card and Skrill. Non-availability of Skrill has its own story to be explained here. Skrill has already banned unregulated forex traders to protect its customers from the scams of funds.

While writing this FidelityGain review, we were not able to find any information for the withdrawal of funds. Also, there are no terms and conditions listed for the depositing and withdrawing procedures.

Two websites with no sufficient information are nothing of use. The company website has information about Facebook and Instagram accounts which are not functional. Also, no other genuine accounts of the company can be founded on any social media.

Online response management for any forex trading company is as important as a part of its basic services. The company gets to know about the experiences of its customers and has a chance to clear the same at the same social media portals. On one side, they can help the customer with its query; on the other hand, it will be an elaborative example of the nature of support provided by the company.

FidelityGain disappoints us this time as well.

Customer Support:

The company has mentioned an email for support purposes and a UK based number also. With so many fake claims, it is not sure if someone is there to respond to the customer queries or not.

No live support, no live chat with the unavailability of any 24*7 working phone numbers or a dedicated team of experts.

Only Fake and Misleading Information:

FidelityGain has two websites with no proper information. Also, the information provided can’t be treated as genuine due to the lack of supporting documents regarding the same. An example is the investment chart over the website which is too good to be true and has no certified entity to establish its truth.

The wrong information provided about the regulation and licensing of the company leaves us with no trusted source to lean on for genuine and correct information.

With no information for trading services and offers, there are no details provided about the trading accounts except for the increasing minimum initial deposits which start from a whopping $500, which is too high for an illicit irregular offshore trading company to ask for.

With no details about the trading conditions, leverage and spreads, how can anyone do trading with the company? No availability of trading platform MT4 or MT5 downloading links and no clarity over depositing and withdrawing fees and the response time related to the same.

No links for reaching the support team are available. No around the clock expert advice is available if traders are facing any issue.

Conclusion

A big list of non availability of important information amounts to a final no of doing any type of business with FidelityGain. It is firmly established in our FidelityGain review that the company has purposely hidden and provided all of the fake information. We don’t recommend FidelityGain for any type of business activity.