Genetrade Review 2025
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Updated:
Reason to avoid: Offshore license
Listed Date: February 16, 2024
Top 3 Forex Brokers
Beware Genetrade is a Non-Regulated Broker. It is NOT SAFE to trade
Advertising Disclosure
Updated:
Reason to avoid: Offshore license
Listed Date: February 16, 2024
Beware Genetrade is a Non-Regulated Broker. It is NOT SAFE to trade
No, Genetrade cannot be considered a reliable broker due to its absence of a top-tier license. GeneTrade operates under the regulation of the Financial Services Commission (FSC) in Belize with the license number IFSC 270/195.
🏢 Registered in | the Financial Services Commission (Belize) |
🗺️ Type of License | Offshore |
🛡️ Is Genetrade safe to trade? | No |
🗺️ Recommended Licenses | FCA in the UK 🇬🇧 and ASIC in Australia 🇦🇺 |
🖥 Alternative Broker | FP Markets - licensed by ASIC in Australia |
GeneTrade is a trading platform founded in 2017 and based in Belize. The broker enables access to trading Forex, Equity indices, and Precious Metals. GeneTrade offers maximum leverage of up to 1:1000. The platform employs variable spreads, ensuring transparency, and provides access to the highly regarded MT4 trading platform for advanced charting capabilities. Additionally, users can utilize a demo account to practice and refine their trading strategies.
Through our research, we have discovered additional information about the broker and have gained insights into various aspects of GeneTrade's operations.
Following thorough research, significant concerns have emerged regarding the reliability of GeneTrade and its compliance with regulatory standards. As a result, we are unable to provide a positive rating for GeneTrade.
Ranking | GeneTrade | Admiral Markets | Go Markets |
---|---|---|---|
Our Ranking | ⭐ | ⭐⭐⭐⭐⭐ | ⭐⭐⭐⭐⭐ |
Is Broker safe? | No | Yes | Yes |
Advantages | None | Trading Conditions | Trading Environment |
Given the reservations concerning the reliability and security of GeneTrade, we strongly recommend traders explore alternative options that offer stronger regulatory oversight and improved trading conditions. Below is a list of reputable brokers providing reliable choices, ensuring a secure trading environment for your consideration:
Depositing funds into your trading account can be done through various methods, and it's important to note that certain options may involve additional charges. Some of the funding methods are Credit/Debit cards, Wire transfers, and e-wallets such as Skrill and Neteller. The minimum deposit is $5. The processing of the funds is mostly instant.
GeneTrade provides two account options designed to suit the needs of various traders: Micro and Standard. The base currency options are USD, EUR, GBP, JPY, HUF, PLN, ZAR. The leverage for both account types is up to 1:1000. Spreads are as low as 1 pip and for both of the account types, there are no commissions. The minimum deposit for both Micro and Standard accounts is $5.
Upon reviewing the accessible information about GeneTrade, it is apparent that the broker provides advantageous features like tight spreads and high-leverage options. Nevertheless, there are significant apprehensions regarding the broker's reliability and credibility. Despite the appealing features and opportunities, the registration of GeneTrade in an offshore jurisdiction (Belize) raises considerable doubts. Besides, the clients' reviews are mostly negative. So, Traders are strongly advised to exercise caution when considering this broker.
We recommend traders consider brokers with licenses from reputable authorities such as FCA, ASIC, or CySEC. Numerous regulated brokers offer favorable terms and conditions that adhere to top-tier regulations, creating a trading environment that prioritizes safety and aims to minimize risks. Some noteworthy options include Eightcap, HFM, and Interactive Brokers.
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