reviews on generic trade – Generic Trade inquiry

By Mpatt01, from United States, November 19, 2019 at 07:03 PM

Hi Team, I’ve enjoyed your website for years – keep up the great work! Your reviews on FX brokers have never failed. I am now getting interested in futures however and I couldn’t find any under your ‘futures broker reviews’ that offer futures trading (like at the CME Group) for emini and emicro trading. I’ve done a lot of research and I think I want to go with Generic Trade, but wanted to know what you think first if possible. Nerdwallet rated them the number one broker for 2019, but I tend to like your reviews better. Please let me know ASAP as time is money:)

Answer: Hi Mpatt01,

We had a look at Generic Trade and the broker does have a license from the National Futures Association under the name GENERIC TRADE LLC. Despite its regulation and all the legal documents, we have found a lot of negative reviews on the net. People mostly complain about having bad trading experience and hidden fees from the broker. We would recommend to consider a different regulated broker. 

As to the other regulated brokers, you can definitely check out our Futures Brokers List. We have listed the regulated brokers that offer futures trading. Yes, they might be not ONLY futures brokers, but it doesn’t make them less trutworthy and less professional. You just need to have a better look at the trading instruments presented on their websites. 

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