Flaregain.com Review: There Is Nothing You Can Gain From This Broker
Everyone who thinks about starting to trade thinks about profits. However, before you can become a profitable trader, you need to go through everything from the beginning. Choosing the right broker is one of those things and it’s important to choose a regulated and reliable broker to stand by your side.
That is not the case with our Flaregain.com review, where the only thing you can gain is the stress from attempting to withdraw your money. Although the reviews will make it seem like this company is a good choice, their lack of regulation and transparency will prove they’re not.
When you search the web with the name Flaregain.com review, you will find only positive feedback. We were surprised by how many websites reviewed the broker and presented them as a regulated entity.
After checking ScamAdviser, the broker’s trust score was in the middle, which was not the case with their regulatory authority. The information on WHOIS states the domain was activated in September 2023, meaning the broker has been operating for only two months at the time of writing.
There are no scams reported at the moment but considering the amount of time they are operational, it’s not surprising. The thing that’s surprising about this company is the positive reviews, which we will talk more about later in our Flaregain.com review.
|Financial Authorities Warnings
|If Active on Social Media:
|United Kingdom, France
|Fake regulatory information; Fake compensation fund;
Flaregain.com broker claims to be regulated by the Crypto Service Authority. Never heard of it? Neither did we, so we had to check ScamAdviser and it appears the trust score is only 1, which is significantly low. Not only do they claim to be regulated by some fraudulent organization, but they also claim to offer a $100,000 compensation fund.
This is done to lure investors into thinking the company is reliable and safe and traders won’t know until something happens that requires the organization to act. Since they claim to be headquartered in the UK, regulatory oversight by the Financial Conduct Authority is a must.
Additionally, despite the claims to be in Austria and Singapore, their traders mainly come from the UK and France. So to be clear, this broker would need to be regulated by either the FCA or the AMF in France to be considered safe and reliable.
You can trade common financial instruments with this broker, like commodities, indices, cryptocurrencies, stocks, and currencies. There is also a Glossary in addition to some trading blogs to help you in your trades.
The leverage information, spreads, commission, or anything else that’s valuable is hidden, leading us to believe in the Flaregain.com scam. There is no educational material until you pay and advance to a certain account type, which is yet another indicator to question the broker’s reliability.
If you are an experienced trader, Flaregain would be a bad choice with what they offer. Trying your luck with prop firms like SurgeTrader can maybe offer better results than relying on brokers.
Flaregain.com Account Types
There are a couple of account types to choose from and we believe their goal is to lure in traders for the Gold account type because scamming you once for 25k is enough. The minimum deposit of $250 is required to advance to the Standard plan, which is the base one.
Other than the formal presentation of the platform, personal account trainer, and an opportunity to utilize leverage trading, nothing else is offered with the Standard plan. As you move up to the Bronze account type, you must prepare $3,500 to unlock training materials for beginners, a personal trainer on finance and trading, one trade with insurance, and a trading bonus.
The Silver account type is pretty much the same but to enjoy additional features like platform financing and 4 trades with insurance, you must deposit $10,000. The Gold plan of $25,000 is for advanced traders because of the material that’s offered. Besides 8 trades with insurance instead of 4, this plan is the same as the Silver one.
The highest in the tier seems to be Platinum, Pro, and Vip. The Platinum requires a $50,000 deposit, Pro $100,000, and Vip $250,000. The features are all the same, besides getting signals, trading notifications, upgrades, and of course more trades with insurance.
There are no reviews about the broker on any well-known platforms like Trustpilot or Sitejabber. We couldn’t even find any Reditt discussions either, however, we did manage to find Reviews.io and a total of 24 comments about the broker.
Interestingly, all 24 comments are good, and there aren’t even any 1- or 2-star reviews. That may mean that, given how long the broker has been in business, some traders are only aware of Sitejabber and Trustpilot, even if the company’s profile is absent from both.
Positive reviews aren’t enough reason to use this broker and on the contrary, many reasons suggest you avoid them. If you’ve already been in business with this firm and you were scammed, make sure to leave a review and report them to authorities.
Deposits and Withdrawal Methods
The accepted methods include credit/debit cards, bank transfers, and wallet-to-wallet transfers. The card option is the quickest because bank transfers can take up to a day to show in your account.
The withdrawals are processed on the same payment method you used for depositing your funds, which is in accordance with the AML policy. Withdrawal of funds takes 1-5 business days from the moment of submission of a request.
Can I Make Money While Trading Online?
In conclusion, Flaregain is a potential scam brokerage that was recently established. They are operating without a license and claim to be regulated by a fraudulent organization. There are many better alternatives to choose from, such as Pepperstone or XM Group.
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What is Flaregain.com?
Flaregain is a brokerage company that was recently established, claiming to be located in the UK, Singapore, and Austria.
Is Flaregain.com Regulated?
Flaregain claims to be regulated by the Crypto Service Authority which is a fraudulent organization that’s not approved by law.
How Can I Withdraw My Profit from My Flaregain Account?
After you sign in, complete the withdrawal form by entering the required information, including the withdrawal amount and preferred payment method.