Gainful Markets Review | Provides Traders with the Best Technology or a Scam?

Gainful Markets claims to provide traders with the best technology available. However, we need to verify whether this broker is a scam or not. To do so, we will take a closer look at its features, licenses, and customer reviews.

Highlights

First Impression of Gainful-markets.com

The Gainful Markets website kills us with its simplicity. We would expect something more solid from a broker with such a name, but there are only a couple of sections on the menu. It’s clear that too much attention is given to self-promotion, while information about the company is scarce. Moreover, the broker has obvious problems with disclosing information. For example, we couldn’t find a disclaimer stating how many traders lose their deposits on this platform.

Partnership and Bonuses

Gainful Markets offers bonuses to traders, at least according to the description of trading accounts. However, the specific amount of bonuses is not disclosed by the broker in the open access. Also, there seems to be no partner program on the platform. We could not find any mention of rewards for inviting referrals.

Account Opening on Gainful-markets.com

Opening an account with Gainful Markets is a relatively simple process. All you need to do is provide your personal information, phone number, and email, and come up with a password. However, the broker has a very lax attitude toward protecting client accounts. It does not verify emails and phone numbers, so you can use practically any data and immediately gain access to the client portal. Furthermore, the Personal Area is combined with the trading terminal, which is not very convenient, and the platform is slow to load. We will also attribute the lack of a demo account to the disadvantages. You don’t have the opportunity to try your hand. You will have to open a real account right away.

Verification

Opening an account with Gainful Markets is a confusing process regarding submitting documents. It’s unclear where to upload them in the personal account. However, the company still requires traders to go through the verification process, which includes providing proof of identity, address, and payment.

Trading Software

The trading platform offered by Gainful Markets is very dubious. Firstly, it only exists as a web trader. Secondly, it is unclear who developed it. Thirdly, we have already mentioned its poor performance, but we believe that it is important to mention it again. With such a slow terminal, you are guaranteed slippages and delays in opening and closing orders.

How Can I Trade With Gainful Markets

Well, for now we cannot call Gainful Markets a broker worth our attention. Rather the opposite. The official website and platform are repelling. Let’s see what the broker can offer to traders.

All Info About Accounts

Gainful Markets offers a wide range of account types, but their value is questionable as they differ little apart from the minimum deposit. There are some additional services, such as insured trades. However, they are useless and only prove that this broker doesn’t send trades to the interbank market. The more money you deposit, the more useless services you’ll get, such as market analysis, signals, full manager support, and other nonsense. The team’s qualifications are not confirmed, so it’s not recommended to trust signals from anonymous sources. The lack of important trading conditions is also a concern.

Market Analysis and Education With Gainful-markets.com

Forex brokers often offer a variety of additional services to their clients, ranging from educational materials and trading signals to market analysis and more. However, it’s important to be skeptical of these services, particularly with lesser-known brokers and smaller companies. Gainful Markets is no exception, and the quality and value of their additional options are questionable.

While some brokers may provide helpful educational resources, it’s unclear what quality of training and signals Gainful Markets offers. As we’ve mentioned before, the qualifications of their team are not verified, and the efficacy of their services is unproven. It’s important for traders to do their own research and seek out reputable sources of education and analysis.

Deposit, Withdrawal, and Fees

Gainful Markets offers limited options for depositing funds. You can transfer money to the platform using a credit, or debit card, as well as a bank transfer. The same methods are available for withdrawing funds. The company warns that it may process requests within 1-5 days, but there is no specific deadline. Moreover, withdrawals may be canceled, and they will let you know about it.

How Can I Contact It?

Gainful Markets offers customer support via phone and email. However, we have read in reviews that traders complain about the difficulty of reaching customer support.

Is Gainful Markets Dangerous?

There are doubts about Gainful Markets’ safety based on their website and trading conditions, but we will investigate further.

How Long Does The Broker Work?

It appears that Gainful Markets is very young and is still in the process of developing its official website. Our suspicions were confirmed when we checked the domain information, which revealed that this project leased its domain in January 2023, indicating that the company is only a few months old.

The article has been updated. As of September 2023, the domain has not yet expired, but the company has already moved the site to the new name gainful-markets.com. By the way, it was registered on July 13, 2023. What is the reason for the hasty relocation? We assume it was caused by the attention of The Netherlands Authority for the Financial Markets. Just take a look.

In April 2023, AFM reported that Gainful Markets appears to be a boiler room. This is the name given to companies that engage in cold calling and push pointless investment services. It is obvious that the hero of our review continues this malicious activity.

How Is Gainful Markets Regulated?

The answer to this question can be given in one word: None. Gainful Markets didn’t provide important legal information on its website. There is no data on which management companies collaborate with traders. Only two addresses are published in contacts – one in Singapore and the other in the Netherlands. Of course, there is no real office at either of them. In other words, we are trying to convey that the company does not officially exist. Therefore, it could not have obtained a license. It means that it provides its services completely illegally.

Frequently Asked Questions (FAQ)

Kevin Berry

Ask question

Expert Opinion

Listen up, folks! I can tell you that Gainful Markets is as legit as a unicorn in a forest. And by that, I mean it doesn’t exist. In all seriousness, this company has no traceable information or licenses to provide its services. So, unless you enjoy throwing your money into a black hole, I suggest you steer clear of this broker like a vegan at a steakhouse. Stay safe and stick to reputable trading platforms, people!