Gain offered valuable gifts as a form of payment to attend and listen to their trading and training seminars.
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Learn about Market Forces and Currency Fundamentals of the Forex Markets Education targeted at new Forex traders Analyze Markets; Find Opportunities Focused help for navigating the trading platforms and analytical tools Think like a Professional Technical Analysis and Strategy Education Provides background level education on technical analysis and demonstrations in the live market What you need to know The articles and videos on Forex markets and on technical and fundamental analysis are good, but the advanced section was a little light.
Advanced Charting Charts include advanced studies, display types, and customizable timeframes Live Trading Webinars Analysts hosted live trading webinars with commentary and actionable ideas Real-time News News feeds accessible in or from all the desktop and mobile applications Economic Analysis Announcement reporting, analysis, and calendars available through trading applications and on Forex. That means investors have a lot of choices and flexibility, which is valuable.
The broad spectrum of trading markets available are also attractive and having access to all of them through Forex. Alternatively, we would have liked to have seen all the available trading markets and advanced order types available in the web trading app. This is useful for traders looking for more advanced charting.
Although there was a lot of functionality in the custom platform some features, like chat support and research, were pulled in from the website, which is not as convenient. The education section on the site is well organized and easy to find but there is no tracking of completed sections and it will be easy for investors to lose track of where they are in the process of learning.
While the education was good, we found most of it to be very basic. Introductory-level education is great for new traders getting started in the market but experienced users won't find much they don't already know.
Webinars were good and the fact that they are held during market hours, where live trading is discussed, is a plus. In the seminar the presentation included a video tutorial that illustrated the use of Gain's trading platform. In one part of the presentation it explained the use of the SQR key. The presentation verbally and visually displayed the use of the key to liquidate an entire position with one click.
The software that was provided to me did not respond to the SQR key and it took me a total of 76 clicks to liquidate a position.
The training video in essence portrayed a false impression of the ease of use of the trading platform which in actuality in a fast moving volatile trading environment leads to mental frustration, fear, panic and unnecessary losses.
In another part of the presentation Gain's sales team emphasized that the FX market traded 24 hours a day 5 days a week regardless of holidays. The presenter placed special emphasis that trades could be executed from 5pm every Sunday till 5pm every Friday regardless of public holidays. The presenter made a big deal out of this comparing it to the limited trading opportunity in the stock market.
The presentation also made reference that a team of live traders were available should any technical problems arise with the trading platform and that the trade would be executed manually. This part of the presentation may have been truthful to a point but the trading desk did not always answer the phone in a timely manner and the trading desk would not honor trade quotes posted on the trading platform at the time the call was initiated.
I was enticed to call Gain because this offer was even better than that offered by Propfx. The sales agent, Mr. Lemon, by name, knew that I was trading with Propfx on the Currenex Platform. Lemon if he was selling me a lemon and he assured that he was not and verbally proceeded to tell me the company had an impeccable reputation and that it was in good standing with the NFA and CFTC. He went so far as claim that Gain was refunding losses to the clients of the then bankrupt RFCO to protect the entire FX industry from a black eye and that Propfx was a spinoff, under the management of ex RFCO executives and that Gains trading platform was easier to use and would do everything that I had been accustomed to on Currenex.
To this day I have never been able to execute a trade with a 1 pip spread. Lemon claimed that Gain had an impeccable reputation with the NFA. To satisfy my skepticism and convince me to open an account with Gain Mr. I also know firsthand that Gain's trading platform cannot perform at the speed of Currenex or offer the advanced features. I understand that Gain could have delivered a platform that was somewhat compatible but never made it available because Gain would have had to pay an outside vendor for it's use.
Gain snubbed it's nose at Government regulations employing unlicensed sales associates and continued it's deceptive practices even after meeting with the NFA and was asked to cease its deceptive practices. The only analogy I can draw is that Gain's business model all came down to the bottom line profit and if it was more profitable pay a fine and continue it's deceptive practices at my expense then that is how the business should be operated.
This method of operation calls for punitive damages in my opinion. Gain promised to credit Bank wire transfer fees and never did. Gain promised me a dedicated account executive, who would be readily available by phone to answer questions, provide support, trading advice, access to trading tools and advice how to use them and analyze my trades for a period for 1 hour per week per 10k deposited for my first 90 days. This would have given me 10 hours of support and training each week for my first 90 days.
I do not know if Gain's sales agent had taken FXCM'S 18 part 3 hour power courses which was free but he led me to believe that the one on one training that I would receive from Gain was far superior, would be far more helpful than FXCMS online classroom program even though FXCM'S program provided one year of free email question answer access to the instructors. It is now 2 years later and I am still waiting on my first trading lesson or trading review from Gain.
Gain knows that trading to a novice is mentally stressful and can lead to panic and poor decisions. Gain executives knew and were well aware of the psychological aspect of trading and had an obligation to protect the client.
Gain executives had their software intentionally designed to create metal frustration and had an obligation to ensure the design and development of their software platform did not create circumstances that unjustly used psychology to permit GAIN or individuals in the Company to profit from tactics that could be compared to Guerrilla Warfare.
Gain failed to supervise the company's employee's agents or contractors either intentionally or unintentionally, however the results are clear leaving only one question and that is to what extent should Gain be held liable. The chain of events clearly display Gain had a total disregard for the wellbeing of their clients, who's management either encouraged or failed to use due diligence to ensure that such tactics as misleading advertisements verbal promises and statements including alleging an impeccable reputation with the NFA and CFTC were false, misleading or outright lies.
Clients appear to be a means to an ends with Gain and all that mattered was money and profits. I was coerced to sign a statement that I could afford to lose my investment by promises of large profits and statements blaming the language used in the contract on Government regulations that were enacted as a result of the great depression and were therefore meaningless and obsolete.
Gain's Greed was once again demonstrated in After I lost a sizable sum of money Gain provided me with all the free support, tools advice technical analysis and demo trading accounts to practice.
This helpful analysis continued for several months while I was using a demo account. But stopped the day I added money to my account and began to trade in earnest once again.
On the day after I added funds to my account Gain once again initiated it's Guerrilla Warfare Tactics and abruptly stopped providing support reverse engineered the software trading platform that I had convinced them to modify without forewarning me of the changes and justified the change by pointing out that they had altered the wording in their new marketing material by including exclusions to Gain's one click trading.
To prove my point I offer the following examples. Gain's platform is set at zero trades. Forex market does not work that way. I started tradintg without stops and probably that is why I lost all my account. I liked to tinker around with TS easylanguage but may be that is not worth it Gain is the worst trader I've ever seen - worser than worst flea market sellers.
I'm no newbie but never got a chance to read the reviews at this site before jumping in as I had best hopes with Tradestation and expected them not to choose a cheap broker like GAIN. I timed all the sides and they always cheat you by 30 pips average at either side. I'm also going to approach some of my buddies in legal to see if there is any class-action we can try on Tradestation.
They stop hunt relentlessly and will pick you off minutes later after they know they can safely take your money and ring "their" cash register.
GAIN Capital reviews. A free inside look at company reviews and salaries posted anonymously by employees/5().
64 rows · Gain Capital Group, Stevens and Galant failed to adhere to NFA rules . Gain Capital Group reviews - lokersumbagut.ga What's the rating for Gain Capital Group Forex broker today? Read Gain Capital Group reviews/feedback.
Reviews from GAIN Capital Group employees about GAIN Capital Group culture, salaries, benefits, work-life balance, management, job security, and more/5(4). First of all, GAIN Capital Group, LLC is a registered futures commission merchant and retail foreign exchange dealer with the US Commodity Futures Trading Commission (CFTC) and is also a member of the National Futures Association (NFA).
Gain Capital Group has received 0 out of 5 stars based on 0 Customer Reviews and a BBB Rating of A+. Comprised of 67% BBB Rating and 33% Customer Review lokersumbagut.gad: Oct 26, Apr 03, · lokersumbagut.ga (GAIN Capital) Review. Through its international offices, the GAIN Capital group caters to over , retail and institutional clients, and offers 84 currency pairs in foreign exchange markets and 97 CFDs across major asset classes through its lokersumbagut.ga brand. great job in centralizing its research within the /5.