Generic Trade Review 2020
Generic Trade is an online trading broker that specializes exclusively on futures and options trading via multiple sophisticated trading platforms. They offer multiple account options with no required minimum deposit, and they charge commission fees of $0.59 on trades.
Generic Trade Review 2020, Pros & Cons
- Intuitive trading platforms
- Multiple account options
- No required minimum deposit
- 24/7 customer support
- No MetaTrader platforms
- Limited financial instruments
- Limited account funding options
In this detailed Generic Trade review, our online broker research team has covered some of the most important aspects for you to consider when choosing the best broker for your online trading needs.
Generic Trade is not ranked in our best forex brokers, best stockbrokers, best CFD brokers, best crypto brokers, or best online brokers categories. You can use our free broker comparison tool to compare online brokers including Generic Trade.
Generic Trade Review: Summary
Generic Trade is an online trading broker that is best suited for traders who are interested in trading discount futures and options while looking to avoid the typical restrictions, such as minimum account balances and minimum volume requirements. The broker provides their clients with multiple sophisticated trading platforms to execute their trades online.
Generic Trade Review: Regulation
Generic Trade is registered with and regulated by the Commodity Futures Trading Commission (CFTC) and is a member of the National Futures Association (NFA).
Generic Trade Review: Countries
The broker allows traders from various parts of the globe to open a trading account with them, provided their countries of residence permit online trading with international brokers.
Some Generic Trade features and products mentioned within this Generic Trade review may not be available to traders from certain countries because of legal restrictions.
If you are looking for a trading broker in a particular country, please see our best brokers USA, best brokers UK, best brokers Australia, best brokers South Africa, best brokers Canada or our best brokers for all other countries.
Generic Trade Review: Trading Platforms
Generic Trader Professional
This is the broker’s desktop platform. It has a myriad of useful features, such as advanced trader, streaming news, account detail, order book, live charting, and trading matrix. It is developed for Windows and Mac computers.
Generic Trader Online
This is a web-based platform that offers all the features of the desktop platform and can run directly on most modern web browsers without needing to download or install any additional software.
Generic Trader Mobile
This is a mobile trading app that gives you the full functionality of the broker’s trading platform on your mobile smartphone devices running on Android and iOS. It allows users to manage accounts and place trades on the go.
Generic Trade Review: Trading Tools
There are no standalone trading tools on the broker’s website. However, the intuitive Generic Trader trading platforms have a vast array of built-in to assist traders of all experience levels.
Generic Trade Review: Education
There is a limited supply of educational resources on the broker’s website. Nevertheless, there is a FAQ section that offers instant answers to clients’ most common questions.
Generic Trade Review: Trading Instruments
Generic Trade allows traders to exclusively trade futures and options via the provided proprietary trading platforms.
Generic Trade Review: Trading Accounts & Fees
The broker offers various trading account types, such as Individual, Joint, Partnership, Corporate, Trust, and IRA. There is also the free demo account for practice purposes.
As broker fees can vary and change, there may be additional fees that are not listed in this Generic Trade review. It is imperative to ensure that you check and understand all of the latest information before you open a Generic Trade broker account for online trading.
Generic Trade Review: Customer Service
Generic Trade offers 24-hour technical and trading support via Live Chat and social media, such as Facebook and Twitter.
Generic Trade Review: Deposit & Withdrawal
You can deposit and withdraw funds to and from your trading account via bank wire transfer, ACH deposits, and inter-account transfers.
Generic Trade Review: Account Opening
To get started, click on the ‘Open Account’ icon and fill out the form properly; then, click on submit.
It is imperative to ensure that when you are going through a broker application, you clearly read all of the broker’s terms, conditions, and policies. Only proceed if you fully understand and agree to them.
Generic Trade Review: Conclusion
Generic Trade is an online trading broker that offers futures and options for online trading via a variety of sophisticated trading platforms. There are multiple account options with no minimum deposit requirements and competitive commission fees.
There is a substantial risk of loss in trading futures and options. You should not risk an amount you cannot afford to lose.