GainMetaFX bears all the hallmarks of an investment scam. First, there are fish stories that this financial swindler is an award-winning broker, granted by unknown or fake organizations.
Then, there is a bunch of nonsense about how this shady brokerage is featured in leading business publications (e.g., Forbes and Entrepreneur) and enjoys a great reputation among users and the community.
Finally, there is a falsehood about its licenses and regulations. Altogether, this company is a big fat liar. Hence, continue reading our GainMetaFX review to learn more about how this broker scam works and how to recognize and avoid similar fraudsters.
|Broker Type||Forex provider|
Is GainMetaFX Legit? Regulation and Fund Security
In terms of regulation, GainMetaFX broker claims it is registered in the UK, bragging with its certificate of incorporation on the homepage. However, being a UK-based broker means it must be accredited by the British financial regulator (FCA – Financial Conduct Authority).
FCA is one of the top-tier awarding bodies with demanding licensing requirements. For example, one of the prerequisites is to maintain 1M GBP working capital. Providing 1:500 leverage, despite FCA having capped it to 1:30, is just one clear piece of evidence that GainMetaFX isn’t approved by FCA. Contributing to that is the fact that FCA warned against this bogus brokerage.
In addition, GainMetaFX is headquartered in Saint Vincent and the Grenadines, which is one of the jurisdictions with weak regulations for forex brokerage services and makes it an ideal hideout for offshore-based scam brokers.
Supervisory authorities closely monitor every authorized broker, ensuring it complies with stringent legislation. If a legitimate company is involved in fraudulent trading activities, it is fined, prosecuted, and suspended.
On the other hand, an unlicensed brokerage is unreliable, unpredictable, and can commit crimes without consequences. Therefore, your funds are not protected when trading with an unauthorized and illegal broker like GainMetaFX.
Trading Platform Overview
Regarding trading software provided by GainMetaFX, although this phony broker claims it offers state-of-the-art trading platforms, it is just another lie.
This dishonest scam broker claims that its web trader is available as a desktop version, mobile trading app, and browser-based platform. In reality, there is no trading program, or there is something that resembles it, but it is used for manipulation (e.g., manipulative trading software).
GainMetaFX even professes it offers MetaTrader4 (MT4), one of the best trading software, but I am skeptical about its claims. If you want to trade on the latest platforms, such as MT4, MT5, cTrader, and Sirix, then do it with companies that actually offer them.
Genuine brokers utilize these modern trading programs because they come with advanced tools like expert advisors, social trading, stop loss, economic calendar, market analysis, fast execution, and automated trading.
Deposit and Withdrawal Methods
Before we move forward, you should be aware of withdrawal issues linked to not legit brokers; there are no money withdrawal guarantees.
When it comes to means of payments accepted by GainMetaFX, this bogus broker claims it supports funding and withdrawing through credit/debit cards and crypto wallet (BTC via Coinbase).
Now, the good thing is the availability of credit/debit card payments since VISA and Mastercard offer assistance with cashback. On the negative side, if you deposit money using cryptocurrencies, you will have difficulties with reimbursement because it is hard to trace and reverse crypto payments (that is why hoaxers prefer this funding method).
The minimum opening balance at GainMetaFX is not set, but do not let this encourage you to invest here. It is just one of the cheap tricks to entice people into trading. Once you start with account making, this unscrupulous broker will steal your card details or charge more than it is initially agreed. Anyhow, you never know what to expect from a not trustworthy and illicit broker.
How Do They Initiate The Scam?
Concerning scam allegations against GainMetaFX, this fraudster is guilty as charged. The GainMetaFX scam is executed in such a manner that convinces people it is a genuine company, attracting traders with profitable opportunities and other malicious tactics.
Once unsuspecting victims are roped into investing, they lose their hard-earned money. Con artists apply many dirty tricks to prevent you from withdrawals and persuade you to deposit more. When you stop investing or request payoffs, scammers vanish without a trace. Don’t be surprised if they approach you again under a new name offering assistance with cashback.
If you are a victim of this or any other fraudulent broker, it is important to act fast since getting your money back is possible. You should inform relevant authorities, leave negative GainMetaFX reviews to alert others, and seek advice from cyber security experts. Don’t feel embarrassed about reporting a scam!
Reliable Forex Brokers
Why risk with unlicensed brokers, when there are so many legitimate companies offering terrific benefits? To save you time and money, we have listed proven and tested forex brokers. Each of them is safe for trading since is licensed and regulated by high-ranking financial market regulators, such as FCA, ASIC, and CySEC.
The advantages of using these FX providers are access to cutting-edge platforms, excellent terms of exchange, first-rate customer support, plenty of trading instruments, and lots of learning materials. You can set up a real trading account for less than 10 USD or open a demo account and practice trading for free and without risks.
|FXTM Broker||Cyprus, UK, Mauritius||4.5||$10||Forextime.Com|
|OctaFX Broker||Cyprus, SVG||4.4||$100||OctaFX.Com|
|FP Markets Broker||Australia, Cyprus||4.7||$100||FpMarkets.Com|
|XM Broker||Cyprus, Belize, Australia||4.7||$5||XM.Com|
|HFM HF Markets Broker||Cyprus, UK, South Africa, UAE, Kenya||4.3||$5||HFM.Com|
|FBS Broker||Cyprus, Belize, Marshall Islands||4.85||$100||FBS.Com|
In conclusion, GainMetaFX is an untrustworthy and anonymous brokerage. Its service offering rests on unfounded and misleading claims. Simply put, it holds no accolades, it features in no business magazines, it has only negative reviews, and lastly, it is unlicensed.
Therefore, we can verdict GainMetaFX as a blatant trading scam that will only defraud you. So, please be careful about easy earnings and stay away from this cyber fraud.
FAQs About GainMetaFX Broker
What Are the Funding Methods for GainMetaFX?
According to its webpage, GainMetaFX reportedly supports credit/debit cards and crypto payments.
Is GainMetaFX Regulated?
Unregulated broker but operates unlicensed, illegally, and anonymously.
How Long Does it Take to Withdraw from GainMetaFX?
It remains unknown. But since GainMetaFX is an exposed fraud, we doubt that it is even possible to make withdrawals with this scammer.