Flaregain.com Review – Unauthorized Broker Scam

The flaregain.com website has been shut down, and very little information remains on what it was, or which services it allegedly offered. One thing is certain – this platform has been exposed as belonging to a fraudulent company.

Find out more about how online scams work, and how you can recover lost money in our Flaregain.com review.

Fraudsters Ousted by Authorities

The website of this notorious scheme has gone down for the count, and much of the information related to it got scoured from the ‘net, leaving only a few breadcrumbs behind. The little info that we could piece together paints a bleak picture.

One thing is certain, though – the site was debunked for what it truly was, and the word has spread to the authorities. Quicker than a wildfire in a dry forest, the regulator warnings started popping up.

The first to blacklist the company was CSA, followed by ASC, CNMV, CONSOB, FSMA and the independent watchdog agency, IOSCO. All of these agencies are considered Tier-1, their information rock solid.

The broker did throw around a made-up license from some “Crypto Service Authority”, a non-existing financial regulator designed to instill a sense of trust. These crooks, just like Aksel Invest, are likely to just steal your cash and call it a day.

Short Lived Scheme

The site operated for a short time, being launched in September 2023. Their con’s primarily targeted these areas:

• Spain
• United Kingdom
• Belgium
• Germany
• Poland

Online swindlers are masters of information spinning. Mostly, these “boiler room agents”, as they are called, follow a script that makes it easier for them to manipulate their victims.

Their courtesy and politeness is only skin deep, and they won’t hesitate to cut off the communication if they sense they can’t get any more funds from the mark. The domain is still marked as operational, though, and this might indicate that the people operating it are planning a comeback.

Pumping The Ratings

The Flaregain.com reviews on the web will make you think that the company offers one of the best trading experiences around. Nearly all of these were posted by the review seller networks, hired content writers that work on making the lie seem more believable.

No matter where you look, TrustPilot, SiteJabber, Reviews.io or TrustedReviews, you get the same picture. Everything seemed to be fine and dandy up until a moment when it wasn’t. The negative opinions flooded the ratings platforms, and all of the sudden the main website was out.

Unknown Trading Costs

One of the problems we’re facing in regards to gauging the service costs is the lack of any disclosure on the website itself. While the company did feature leveraged trading, the leverage amounts were only described as “normal”, “silver” or “VIP”, pertaining to the names of different account types.

Other trading parameters like fees were hidden as well. If you’ve been reading our articles, you’d notice that this is a common trope with many faux services like Royal FX Bank. This lets the charlatans drain your account balance through fees they invent on the spot.

Many of these trading hoaxes will ask for up-front fee payment, which is another fraudulent strategy. The firm did offer rather generous bonuses as well, but the particularities of this deal were not left for posterity.

Unimpressive Trading Features

Many of the claims made on the site are in line with what the actual brokerage would offer, for the sake of maintaining a facade.

As expected the Flaregain.com trading amenities provided by the firm were only designed to resemble trading, with no access to the actual markets. Any client interaction is, thus, designed only to keep the victims complacent and spending. 

Obsolete Trading Software

The trading platform made available by the fraudsters has been described as “ground breaking” and “cutting edge”. In reality it was just another Web Trader, and not even a good one at that.

In the contemporary trading industry, apps like MT4, MT5 and CTrader reign supreme, and industry leading brokers only feature the web trader as a backup. Web based software is favored by various never-do-wells, because it lets them edit the market data with ease.

Mimicking Legitimate Competition

The Flaregain.com forex service used to offer many of the trading assets you’d find with other brokerages. Again, this is done in order to maintain some sense of trading, as the information about the speculative instruments doesn’t actually come from the global markets.

Here’s a brief overview of what’s on offer:

• Forex – EUR/USD, AUD/NZD, CHF/GBP, USD/JPY
• Cryptocurrencies – BTC, ETH, ADA, XRP
• Stocks – Microsoft, IBM, Airbus, Tesla
• Commodities – Corn, Gold, Crude Oil
• Indices – WIX, CAC40, Dow Jones, Nikkei 225

Tiered Account Rip-off

The account types offered by the company are what is known as “tiered accounts”. They offer, on paper, better trading conditions like higher leverage or larger bonuses. Traders just need to be willing to cough up more money to fund them.

This is what these accounts cost:

• Standard – $250
• Bronze – $3,500
• Silver – $10,000
• Gold – $25,000
• Platinum – $50,000
• Pro – $100,000
• VIP – $250,000

Withdrawals are the Main Issue

One of the main issues with the Flaregain.com broker fraud is the lack of any transparency. These cybercriminals never even discussed the withdrawal policy on their website.

Ultimately, this resulted in the vast majority of these services’ clients complaining about their Flaregain.com withdrawal being denied. Should you need help getting your funds back from this scam broker, contact our recovery experts through the live chat.

Uncaring Customer Support

The help desk at the company was not there to help the clients resolve their issues, but to drag them further through the mud. Contacting the customer service only connected you to another boiler room agent. In the end, the clients were left hanging, their problems now burning an even bigger hole in their pocket.

Scammers Got You? Take Your Money Back!

Illegal brokerages have, unfortunately, become a common occurrence on the web. Hopefully our article has given you some insight about how you can spot scammers before they trick you out of your funds.

You are not the only trader that has fallen victim to the Flaregain.com scam. Contact our legal experts using the live chat on our site to learn more about the recovery process. We are available 24/7, and our first consultation is free of charge.

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