Today, hundreds of brokerage services operate on the network with an ambiguous history and not the best reputation – this can be attributed to GeneTrade . This company supposedly started in 2020, however, there are records of its activity on the Internet from 2017 and 2018. Be that as it may, it became known to Russian-speaking users relatively recently.
What is the GeneTrade service?
There is not much information about the past of GeneTrade. It is known that this brand belongs to Genius Trading LTD, which is registered in Belize. The corporation is also under the control of the local regulator IFSC, which has given it the right to offer brokerage services. The broker does not have a physical office for advising clients, but the website states that user support is provided in more than 20 languages, including Russian and even Hindi.
GeneTrade has an official website with links to accounts on social networks, but activity in them tends to zero. The company’s news has not been updated since the fall of 2019, and therefore there is not much to say about the platform’s attendance. The broker does not provide any contests or tournaments; compensates for this disadvantage with a 50% deposit bonus, free VPS server and zero commissions.
What trading conditions does GeneTrade offer?
The platform provides fast and transparent trading conditions along with instant market execution of trades without requotes. GeneTrade broker clients can choose between standard lots and micro lots, which allows trading any number of trades. For this, the company offers two accounts:
- Micro – the minimum deposit is $ 5, an account can be opened in one of seven currencies. Spreads start at 1 pip and leverage ranges from 1: 1 to 1: 1000, with GeneTrade encouraging hedging.
- Standard – the same conditions, but the size of one contract is equal to 100,000 units of the underlying asset. The broker does not charge additional service fees and provides a personal account manager.
Trading is carried out on the most famous platform – MT4. According to the reviews published on GeneTrade, this site has built-in indicators that are easy to use and indispensable in everyday trading. In addition to the functionality for creating and testing individual trading strategies, this terminal has one-click trading, fast order processing and tools for automatic operation. One of the main advantages is also support for Windows and Mac OS operating systems, as well as mobile devices.
What about the withdrawal process with GeneTrade? Usually, this question is at the forefront of most reviews and comments, and this broker was no exception. The platform supports bank transfer withdrawals and also supports credit / debit cards and payment systems Skrill, NETELLER, bitwallet and PayTrust.
Some of the reviews left about GeneTrade mention that the company often delays the withdrawal of funds or refuses payments altogether. Considering this and other factors – lack of transparency regarding company data, low level of activity – you can open an account on this platform only at your own peril and risk.
