We explain the reputation and reviews of GeneTrade’s FX company broker trading traders, as well as support, bonuses, leverage, safety and reliability evaluations. GeneTrade is a FX company that is characterized by high leverage and has users all over the world. In particular, there are many Japanese and French registrants, so it can be said that it is a very well-known FX company in Europe and Japan.
- GeneTrade company information and safety
- Features, advantages, and disadvantages of GeneTrade
- What are the reviews and reputation of GeneTrade?
- How to open a GeneTrade account
GeneTrade company information and safety
GeneTrade is an FX service company established in 2018 by the operating company Genius Trading LTD. Our head office is located in Belize, and we operate under regulations as we hold a financial license from the Belize International Financial Services Commission (IFSC). Belize is known as a tax avoidance country. It is a very famous country as a tax haven, so many Forex companies are based there.
|Genius Trading LTD
|5 Cork Street, Belize City, Belize
Separate management/no trust protection
GeneTrade’s official website seems to have thorough separate management of customer funds. This means that customer funds are managed separately from company funds. Even if GeneTrade goes bankrupt, the funds deposited by customers will be fully protected. There is no trust protection.
Holds a financial license
GeneTrade holds a financial license from the Belize Financial Services Authority, so it is reliable and safe. Belize is known as a tax haven country with low corporate taxes and is famous for a variety of companies registering as corporations. It is more reliable than unlicensed overseas Forex companies.
users are all over the world
This is a quote from a review site for an overseas Forex company called TradersUnion. Genetrade has the most users from Japan and France, and other countries such as South Africa, Germany, Turkey, Colombia, Spain, and the Netherlands also register and trade, so it can be said to be a recommended FX company.
Source : TradersUnion
Features, advantages, and disadvantages of GeneTrade
Now, I will introduce the features, advantages, and disadvantages of GeneTrade. Transaction fees are free for both account types, which is very helpful when it comes to investing. We have a perfect support environment and are able to provide support 24 hours a day, 365 days a year, so if you still have any concerns, please contact us and we will check.
There are 2 types of account
There are two types of accounts: micro accounts and standard accounts. Both account types only support foreign exchange currency pairs and precious metals, and looking at the specifications themselves, micro accounts are for small transactions, and standard accounts are for professional accounts. Please note that trading in energy, stock indexes, virtual currencies, etc. is not possible. In order to activate the account, there is a document review after application that must be completed in order to start. Spreads tend to be a little wide.
Currently, leverage is generally specified at 1000x in Genetrade. You can see that we have achieved a high level of high leverage compared to other companies. Therefore, it can be said that it is a Forex company where you can trade from a small amount and aim for big profits. Genetrade uses the DD method for ordering and buying and selling. You can have multiple positions with up to 5000 lots in a micro account and 50 in total in a standard account, so it is fulfilling.
The only products we handle are foreign exchange and precious metals.
Genetrade officially handles only foreign exchange and precious metal stocks. There are 57 detailed FX currency pairs, but the only precious metals are gold and silver. If you want to use Nikkei 225 or Dow Average, etc., it is better to use another FX company. The maximum number of positions is 200, allowing for exciting trading. Swap points will be generated if you trade across days. Trading can be done on weekdays.
Loss cut and zero cut
Genetrade will issue a warning when setting a margin call if the margin falls below the standard margin by 50%. The loss cut level will be 20%. Furthermore, if the margin becomes negative, Genetrade will guarantee the balance up to 0. This means that even if a trader suffers a 100% large loss, there is no risk of pursuing the debt without margin call.
There are bonuses and campaigns
Genetrade is famous for its constant bonuses, luxury campaigns, and exclusive promotional opportunities. There are account opening bonuses and deposit bonuses, so most users can receive and receive bonuses. We may also hold limited-time campaigns. The minimum amount required is $5, making it very easy to trade. This is a big advantage for new users.
Trading style has few restrictions
Many deposit and withdrawal methods
There are many deposit and withdrawal methods available after logging in, and we support credit cards (VISA, JCB) and online wallets (NETTELLER, STCPAY, bitwallet), but bank transfers are not supported. If you use a credit card or online wallet, it will be reflected immediately in the shortest possible time, which is attractive. Debit cards of the above brands are supported. We also separately provide free VPS.
What are the reviews and reputation of GeneTrade?
Here are some excerpts from TradersUnion regarding GeneTrade reviews and reputation. There are about half good and half bad reviews, so I hope you find this useful. When I checked, the number of basic information provided is relatively small considering the same companies such as FXPro, Threetrader, Tradeview, FXGT, TitanFX, Exness, IForex, BigBoss, and XM.
I cannot withdraw money from Genetrade. They ask to go through verification, although I was previously told that the verification was successfully completed. Moreover, they closed some of my positions. I see that not only me faced such problems. Everything is clear, the company is unscrupulous!Source : TradersUnion
Well, Genetrade has conditions! In my opinion, the guys bent tight. Bullshit! that’s how they withdraw money !!! I heard from a friend that they do not like to do this at all. He’s worn out with them, dear mom!Source : TradersUnion
As a beginner trader, Genetrade suits me. It is still too early for me to think about serious money in Forex, and for gaining experience, the broker is suitable in all respects. You can start with $5, but on a cent account with leverage up to 1:1000, you don’t need more. I tried scalping, but after the first trades I realized that it was not for me. It is impossible to take more than 10 pips, and spreads sometimes widen to 5 pips. Taking into account the fact that there are also negative transactions, such trading can only lead to the drain of the deposit. I will change my strategy. I can’t say anything specific about the withdrawal of funds, because during the training period it doesn’t matter to me: if they don’t pay my 5-10 bucks, it’s okay.Source : TradersUnion
They do not transfer money for the last transaction. The funds have been withdrawn from the trading account. It’s been 3 weeks already. To letters of inquiry, replies continue that they allegedly do not violate anything and do everything on time in accordance with the regulations, but alas.Source : TradersUnion
How to open a GeneTrade account
You can open a GeneTrade account using the button below. Please choose your own password. Frequently asked questions are the contents of the official website customer center. Users are required to submit identification documents and upload address verification documents to verify their identity. It is also possible to trade each using the app. You can also add an account from My Page.