InfinitGain is an offshore broker, which means you need to look closely at it before deciding whether or not to deposit money with it or if it is a scam. We hope this review helps:
InfinitGain has rules and makes sure money is safe
InfinitGain never says it is a licensed broker, but its Contacts page gives us this address:
This is a Washington address, and all brokers from the United States need to show a license that proves they are a real business. These licenses are given out by the NFA and the CFTC, which are the regulatory bodies in the country. And these are some of the most strict regulators in the world—you have to pay as much as $20 million to get a license. Once a license is given, though, the broker is required to report every day on open and closed trades. This is done to make sure that no one can change prices on the markets.
Of course, InfinitGain can’t be one of these licensed companies. It goes against the rules of the regulatory bodies by offering amounts of up to 1:500 when amounts of more than 1:50 are banned. Most regulatory bodies have banned the dangerous, but attractive, high leverage amounts. This is why most high leverage brokers are not licensed and are scams.
Because of this, InfinitGain also can’t have an office in Wien, as it says it does!
InfinitGain software for trading
Traders can’t use the software on InfinitGain until they have made a deposit.
This means we don’t know what trading software the broker offers, but it’s probably not as good as Metatrader 5, which is the industry standard. Here’s why it’s a bad idea to deposit money with InfinitGain so you can use the software:
Fees and methods for making deposits and withdrawals on InfinitGain
Credit cards can be used to make deposits on InfinitGain, which is a good thing because it means you can file a chargeback on any transaction that happened in the last 540 days. And the only way to avoid InfinitGain’s ridiculous fees is to do a chargeback.
No broker in their right mind would charge you that much for doing nothing. But that’s not the end of it.
The fees themselves aren’t listed anywhere on the broker’s website, but given how silly the company’s fee for inactivity is, there’s no reason to think the withdrawal fee will be any better.
It says that funds made by trading with bonuses can’t be withdrawn, and if they are withdrawn, InfinitGain has the right to stop the withdrawal. The problem with this clause is that there’s no way to know how much money was made through bonuses. This means that the company will probably use this clause as an excuse to keep people from getting their money.
How does the scam work?
There is no doubt that InfinitGain is a scam.
First, someone opens an account with InfinitGain. They have to leave a phone number, which the broker then uses to harass them for deposits. The calls don’t stop until the victim runs out of money or realizes what’s going on.
What to do when scammed?
If you’ve been scammed, you should do the following to make sure you don’t lose any more money.
First, find out what credit cards, IDs, and other things the scammers had access to, and get new ones as soon as possible. Also, get rid of any remote control software that the scammers made you put on your computer.
After that, you can think about getting your money back. The best way to do that is to call your bank and ask what chargeback options you have. But if a recovery agency contacts you and asks for money up front, you should know this is just another scam.
Lastly, think about leaving a comment below about your experience with InfinitGain. By doing so, you will help us spread the word about the scam, which is the best way to stop it from spreading.
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