Beware! InfinitGain is an offshore broker! Your investment may be at risk.
RECOMMENDED FOREX BROKERS
Don’t put all your eggs in one basket. Open trading accounts with at least two brokers.
InfinitGain is an offshore broker, which means it needs to be examined carefully before you determine whether to deposit with it or whether the company is a scam – we hope the following review helps:
InfinitGain regulation and safety of funds
InfinitGain never claims to be a licensed broker, but presents us with the following address in its Contacts page:
This is a Washington address – and all brokers from the States need to present a license that certifies them as a legitimate company – these licenses are issued by the regulatory bodies in the country – the NFA and the CFTC. And these are some of the strictest regulators on the world – the barrier to obtain a license is as high as the $20 million requirement to get a license issued. Once one has been granted, however, the broker is obligated to report on a daily basis on open and closed trades – this is done in order to ensure no price manipulation can take place on the markets.
Of course, InfinitGain cannot be one of these licensed companies – not when it blatantly contradicts the leverage policies of the regulatory bodies by offering amounts of up to 1:500, when ones over 1:50 are banned by the regulatory bodies. High leverage brokers are mostly unlicensed companies and scams – that is because most regulatory bodies have banned the dangerous, albeit attractive leverage amounts.
For that same reason InfinitGain cannot have an office in Wien as it claims either!
InfinitGain trading software
InfinitGain does not allow its traders to access its software until they have deposited – here is what the broker states:
This means we cannot know what trading software the broker offers – and yet, it probably fails to live up to industry standard Metatrader 5. Here is why depositing with InfinitGain to make use of the software is such a bad idea:
InfinitGain deposit and withdrawal methods and fees
InfinitGain accepts deposits via credit cards – that is quite beneficial, since it allows you to file a chargeback on any transaction that happened within 540 days. And a chargeback is the only way you would be able to avoid InfinitGain’s ridiculous fees – let’s examine them, starting with the one the broker charges to inactive accounts:
There is no reasonable broker that would charge you as much for inactivity. But it does not end there – InfinitGain also has fees on withdrawals, as you can see from the screenshot below:
The fees themselves are nowhere to be found on the broker’s website – but, considering how ridiculous the company’s inactivity fee is, there is no reason to believe the one on withdrawals to be anything less absurd!
Finally, there is the issue of the company’s Bonus policy, which you can see below:
It states that funds made by trading with its bonuses cannot be withdrawn – and that if they are to be withdrawn, InfinitGain will have the right to recall the withdrawal. The problem with this clause is that there is no way to know what money is made with bonuses – which means the company will most probably use the clause as an excuse to deny withdrawals!
How does the scam work?
InfinitGain is absolutely running a scam – and here is how the scheme it follows unfolds:
First off, someone opens an account with InfinitGain – they are required to leave a phone number, which the broker then uses to harass them for deposits – and the calls only stop if the victim runs out of money or realizes what’s going on.
What to do when scammed?
If you have been scammed, you would need to take the following steps to make sure you do not suffer further losses:
First off, recall what credit cards, forms of ID and so on the scammers had access to – and get new ones issued ASAP. Also remove any form of remote control software the scammers had you install on your PC.
Once that is done, you can think about getting your money back – the best way to do so would be contacting your bank and asking what chargeback options you have. But, if you are contacted by a recovery agency, which demands an upfront payment, know this is simply another scam!
Finally, consider leaving a comment on your experience with InfinitGain in the section below – in doing so, you will be helping us raise awareness of the scam, which is the best way to combat its spread!
Kindl
Infinitgain is a scam. You cannot withdraw money. You can’t do it yourself and the consultant doesn’t want to have any more contact. 5750 invested money 18500 with profit is simply blocked .. This is Infinitgain.
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Infinitgain ist eine Betrug. Man kann nicht Geld auszahlen. Man nann nicht selber machen und Beraterin will kein kontakt mehr zu haben. 5750 investierte Geld 18500 mit profit ist einfach blokiert.. Das ist Infinitgain.
Logan
Infinitgain is a scam. They transferred my money into a Blockchain account and demanded more money. When I refused, this consultant called Daniel James became aggressive and verbally abusive towards me. He made racist and derogatory remarks against me, my family and my country. He cannot be contacted any more. My hard earned money is lost.