Basic Information & Regulators of GainScope
GainScope was founded in 2006 and is a forex broker offering a wide range of services to individual investors and companies. GainScope's parent company is FX DirectDealer LLC or FXDD broker. GainScope offers services ranging from FXDD in Malta (leverage 1:30) to FXDD in Bermuda (leverage up to 1:500) and Trading in Mauritius. GainScope's website claims to be regulated by the FCA in the UK and the MFSA but does not provide a specific regulatory number.
Safety Analysis of GainScope
GainScope's official website claims to be regulated by MiFID, FCA, and MFSA. However, in reality, it is a non-regulated broker, which means that the safety of investors' funds and trading activities are not effectively protected. Investors should be careful to stay away from the GainScope forex broker.
Market Instruments of
The main investment products GainScope offers to traders are Forex currency pairs, gold, silver, oil, stocks, and bitcoin.
Leverage & Accounts
GainScope's account types include demo accounts for trading practice, live accounts, and Islamic interest-free accounts for Muslim traders.
Spreads & Commissions of GainScope
GainScope's website only shows low spreads (depending on the currency). GainScope calculates spreads into commissions and no other fees.
Trading Platform Available of GainScope
GainScope offers traders the white-label MT4 trading software, the most popular trading platform used by more than 80% of the world's Forex brokers. MT4 has a user-friendly interface, full charting capabilities, technical indicators, trailing stop function, robot/EA auto trading available.
Deposit and Withdrawal of GainScope
GainScope supports traders to deposit funds to their investment accounts via FXDD's web page, bank wire transfer, international bank transfer, credit card, Skrill, NETELLER, Asian direct deposit (via online banking API/e-banking) and it takes about 1-3 business days for the funds to arrive. Traders withdrawing funds via bank wire transfer will be charged a bank fee of USD 10 to 30. The minimum withdrawal amount for wire transfers must be higher than $100.
Advantages & Disadvantages
The main advantages of GainScope as follows:
l Wide range of trading instruments offered.
l MT4 trading software.
The main disadvantages of GainScope are including:
l Not subject to any regulation
l No spreads & commissions are introduced.
l Narrow selections of deposit and withdraw options.
