Mad Gain
Pros and Cons
Pros
- Diverse range of trading instruments including forex, commodities, indices, stocks, and cryptocurrencies
- Access to popular trading platforms: MetaTrader 4 and MetaTrader 5
- User-friendly account types suitable for different trader levels
- Availability of demo accounts for risk-free practice
- Multiple deposit and withdrawal options, including bank transfer and e-wallets
Cons
- Not regulated by any recognized financial authority
- Lack of investor protection measures
- Limited educational resources for traders
- High potential for fraud due to unregulated status
- Short operational history of 1-2 years
Basic Information
User Reviews
Mad Gain Overview
Mad Gain is a forex broker registered in the United States, with an operating period of 1-2 years. The company, known for its trading services, is based at 94 Barclay St, New York, NY 10007. While it operates in the forex market, it is important to note that Mad Gain does not hold a formal forex trading license, which may pose risks for potential traders seeking regulated environments for their trading activities. Users considering this broker should carefully assess the implications of trading with an unlicensed entity.
In terms of offerings, Mad Gain provides access to various trading instruments, primarily focusing on forex trading. The broker supports popular trading platforms including MetaTrader 4 and MetaTrader 5, which are known for their user-friendly interfaces and advanced features. Customer support is available to assist traders, although specific details regarding availability and responsiveness are not provided. With its relatively short operational history, traders may find it beneficial to evaluate the broker’s reputation and performance in the market before engaging in trading activities.
Is Mad Gain Safe? Regulation Analysis
Regulatory Information
Mad Gain is not regulated by any recognized financial authority. This lack of regulation can pose significant risks for traders, including the absence of investor protection measures and a higher potential for fraud. Prospective clients should exercise caution when considering trading with this unregulated broker.
Is Mad Gain Regulated and How Are Client Funds Protected?
Trading Products and Services
What trading instruments does Mad Gain offer?
| Asset Category | Available Products | Total Count (if available) |
|---|---|---|
| Forex | Major Pairs / Examples | Varies |
| Commodities | Gold, Oil | Varies |
| Indices | S&P 500, NASDAQ | Varies |
| Stocks | US, UK | Varies |
| Cryptocurrencies | BTC, ETH | Varies |
Mad Gain offers a diverse range of trading instruments, primarily focusing on forex, commodities, indices, stocks, and cryptocurrencies. This variety allows traders at different levels of experience, from beginners to professionals, to engage in various trading strategies. With access to popular asset categories, traders can build diversified portfolios, adapting their approaches based on market conditions and personal investment goals. The flexibility in available products enables users to explore multiple markets and tailor their trading activities, catering to their specific needs and preferences.
Account Types and Trading Conditions
What Account Types and Fees Does Mad Gain Offer?
| Account Type | Target User Group | Key Characteristics | Applicability Notes |
|---|---|---|---|
| Retail Account | Beginners | User-friendly interface, access to educational resources | Suitable for small-capital practice |
| Professional Account | Experienced Traders | Higher leverage, advanced trading tools | Requires trading volume qualifications |
| Demo Account | All traders | Practice trading without risk | Ideal for testing strategies and platforms |
Account Opening Process
To open an account with Mad Gain, users must submit personal, employment, and financial information. This includes identity verification documents such as a government-issued ID and proof of address. Account flexibility allows users to upgrade to a professional account later based on their trading experience and volume.
Trading Fees
| Product | Spread (pips) | Commission | Notes |
|---|---|---|---|
| Forex (Major Pairs) | Varies | $0 (ECN: $X/lot) | Tight spreads for major pairs |
| CFDs (Stocks, Indices, Commodities) | Varies | $0 | Depends on market conditions |
| Cryptocurrencies | Varies | $0 | Market-dependent spreads |
Other Fees
Additional fees may include deposit and withdrawal fees, inactivity fees, platform usage fees, overnight interest (swap rates), and currency conversion fees.
Trading Platforms and Apps
What Trading Platforms and Apps Does Mad Gain Offer for Traders?
| Platform | Device Support | Key Features | Additional Services |
|---|---|---|---|
| MetaTrader 4 (MT4) | Windows, macOS, iOS, Android | Login security (encryption), multiple order types, technical indicators | Demo account, VPS |
| MetaTrader 5 (MT5) | Windows, macOS, iOS, Android | Login security (encryption), symbol lookup, economic calendar | Demo account, VPS |
| Web Version | Browsers (Windows, macOS) | Login security (encryption), one-click trading, price alerts | Demo account |
| Mobile App | iOS, Android | Login security (biometrics), push notifications, fast order execution | Demo account |
Mad Gain offers multiple trading platforms, including MetaTrader 4 and MetaTrader 5, which cater to a range of traders from beginners to experienced professionals. MT4 is known for its user-friendly interface and advanced trading tools, making it suitable for those focused on forex trading. MT5, with its additional features, supports more complex trading strategies and analysis.
The broker also provides a web version and mobile app, facilitating convenient trading on various devices. The platforms emphasize secure login options and real-time alerts, ensuring traders can manage their investments effectively, regardless of their location.
Deposit and Withdrawal
Deposit and Withdrawal Options
| Payment Method | Processing Time | Fees | Limits | Base Currency Options |
|---|---|---|---|---|
| Bank Transfer | 3–5 days | No platform fee | Min $100, Max $10,000/day | USD |
| Credit/Debit Card | Instant | No platform fee, 1.5% for international | Min $50, Max $20,000/day | USD |
| E-wallet (e.g., PayPal) | Instant | No platform fee, 2% charge | Min $10, Max $5,000/day | USD |
Minimum Deposit
Mad Gain requires a minimum deposit of $100. This amount remains consistent across different payment methods and account types, providing accessibility for new traders.
How to Withdraw
To withdraw funds from your Mad Gain account, follow these steps:
- Log in to your Mad Gain account.
- Navigate to the ‘Withdrawal’ section under your account dashboard.
- Select your preferred withdrawal method.
- Enter the amount you wish to withdraw, adhering to the limits set by the broker.
- Confirm your withdrawal request and wait for processing.
- You will receive a notification once your withdrawal is approved and processed.
Customer Support
Mad Gain Customer Support Overview
Support Channels
Mad Gain offers several contact methods for customer support to assist traders effectively. These include:
- Email: Traders can reach out via email for inquiries and support.
- Live Chat: A convenient option for immediate assistance during trading hours.
- Telephone: Direct phone support is available for urgent matters.
- Social Media: Users can follow and contact Mad Gain through their social media platforms for updates and support.
Service Availability
Mad Gain aims to provide customer support during standard business hours, although specific operational times are not detailed. It is advisable for traders to check the broker’s website for the latest updates on support availability. There is no specific mention of multilingual support, so users should consider this when reaching out for assistance.
Frequently Asked Questions
No, Mad Gain is not regulated by any recognized financial authority. This lack of regulation can pose significant risks for traders, including the absence of investor protection measures.
Mad Gain offers three types of trading accounts: a Retail Account for beginners, a Professional Account for experienced traders, and a Demo Account for all traders to practice without risk.
Mad Gain provides several deposit and withdrawal options, including Bank Transfer, Credit/Debit Card, and E-wallets like PayPal. Each method has specific processing times and limits.
Mad Gain offers multiple contact methods for customer support, including email, live chat, telephone, and social media. Customers can reach out for assistance during standard business hours.
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Risk Disclosure
Trading forex/CFDs via brokers carries high risks, including potential total loss. For any data changes, please refer to the latest information on the brokers' official websites. Trade with caution and seek independent advice.