GeneTrade Review

Category: Reviews | Author: Trading Brokers | Date: January 15, 2024

Looking for a new broker to kickstart or level up your trading journey? You might want to check out GeneTrade. This platform has been making waves in the trading world, offering a variety of markets, account types, and funding methods. But is it the right fit for you? In this review, we’ll take a deep dive into what GeneTrade has to offer, from its regulation status to the educational resources it provides. So, buckle up and let’s get started!

Pros & Cons

  • Offers a variety of account types, including Micro and Standard accounts, catering to different trading styles and preferences
  • Low minimum deposit requirement of $5, making it accessible for traders with different levels of capital
  • Regulated by the International Financial Services Commission (IFSC), which provides some level of trust and security
  • Smaller selection of tradable assets compared to other brokers, with no stocks or cryptocurrencies
  • The only trading platform that can be used is MT4, which might be limiting for some traders
  • Offshore regulation may not provide as much protections or recourse compared to brokers regulated in the US or EU

Summary

GeneTrade

GeneTrade

GeneTrade is an ECN/STP model broker that offers a variety of features to its clients. It utilizes its regulatory liberty to provide high leverage, better deposit/withdrawal conditions, a variety of account types, and a wider global client coverage. As a relatively new broker, it doesn’t have a large client pool yet, but this could change as it grows. Traders might not enjoy tight security but will have more freedom, both for trading and off trading.

The platform offers multiple account types and a full license MT4 trading platform. It’s regulated by the IFSC, which provides some level of trust and security. However, it’s worth noting that the IFSC doesn’t provide as strong protection to traders as some other regulatory bodies might.

GeneTrade offers a minimum deposit of $5 and a maximum leverage of 1:1000. The spread starts from 1 pip. The instruments available for trading include Forex, Metals, and CFDs – Indices, Commodities.

Despite being a broker with higher-than-average risk, GeneTrade has managed to carve out a niche for itself in the market. It offers a variety of markets, account types, and funding methods, making it a versatile platform for different types of traders.

AvaTrade Logo

Our #1 Broker 2023

AvaTrade is an award-winning and multi-regulated broker offering a great selection of trading instruments including Forex, Cryptos, Stocks and Commodities. You can trade on all of your devices via user-friendly platforms with excellent trading conditions and no commission fees.

Between 74-89% of retail investor accounts lose money when trading CFDs with this provider.

Regulation

So, GeneTrade isn’t just a cool name, it’s actually a trading name for Genius Trading LTD. These guys are registered under the number 150.338. Now, you might be wondering, “Are they regulated?” Well, yes, they are. They’re regulated by the International Financial Services Commission (IFSC) and their license number is 270/195.

What does this mean for you as a trader? Well, it means that they have to follow certain rules and regulations to ensure they’re operating fairly and transparently. This is good news for you because it adds an extra layer of safety and security for your funds.

They also have a couple of other cool features. One is the segregation of funds. This means that they keep their money separate from your money. So, if something goes wrong on their end, your funds are safe.

Another feature is negative balance protection. This means that you can’t lose more money than you have in your account. If the market goes south and you’re in the negative, they’ll cover it.

But remember, while GeneTrade is regulated, it’s always a good idea to check out other options too. So, please see a list of regulated brokers for some alternative options.

Platforms & Tools

GeneTrade offers its clients the MetaTrader 4 (MT4) trading platform, which is one of the most popular platforms in the forex trading industry. The MT4 platform is known for its user-friendly interface, stable and smooth performance, and the ability to help traders of all levels customize appropriate trading strategies.

MT4 Platform

MT4 Platform

The broker provides access to the MT4 platform across various devices, including PC, Web, Mac, Android, and iPhone, to meet a wide range of user needs. This allows traders to manage their accounts and execute trades from anywhere, at any time. In addition to the trading platform, GeneTrade also offers a range of tools to assist its clients.

Education

GeneTrade does not offer educational material. It seems that GeneTrade focuses on providing a trading platform and tools for executing trades rather than educating users on trading strategies or market analysis.

For traders who are new to the game or looking to expand their knowledge, this means they’ll need to seek educational content elsewhere. There are many online resources, courses, and trading communities that can provide the necessary learning materials. It’s important for traders to be proactive in educating themselves, especially when working with a broker like GeneTrade that doesn’t provide these resources directly. Given the dynamic nature of the brokerage industry, it’s also worth noting that the services and conditions offered by brokers like GeneTrade can change over time.

Markets

GeneTrade offers access to more than 100 financial instruments for trading. These instruments are categorized into three main groups

  • Forex: This is the big one, the foreign exchange market. It’s all about trading currencies. You know, dollars, euros, yen, that kind of thing. It’s a huge market and it’s open 24/5, so you can trade pretty much whenever you want. Whether you’re into major pairs, minor pairs, or even exotic pairs, GeneTrade has got you covered.
  • Equity Indices: Now, if you’re more into stocks, GeneTrade has something for you too. They offer trading on equity indices. This means you’re not just trading individual stocks, but whole sections of the stock market. Think of it like betting on the overall performance of a country’s companies, rather than just one company. It’s a different way to get into the stock market, and it can be pretty exciting.
  • Precious Metals: Last but not least, GeneTrade lets you trade precious metals. We’re talking gold, silver, and other shiny stuff. These can be a good option if you’re looking for something a bit more stable to balance out your portfolio. Plus, who doesn’t like the idea of trading gold?

So, whether you’re into currencies, stocks, or metals, GeneTrade has a market for you. Just remember to do your research and trade responsibly!

Accounts

GeneTrade offers a couple of account types to suit different trading styles and preferences. Let’s break them down:

  • Micro Account: This is a great option if you’re just starting out or prefer to trade in smaller volumes. The base currency can be USD, EUR, GBP, JPY, HUF, PLN, or ZAR, and each lot you trade equals 1,000 units of the base currency. You can leverage your trades from 1:1 up to 1:1000, which can really amplify your trading power. The spreads start as low as 1 pip, and the best part? No commissions on trades. If you need a Sharia-compliant account, you can opt for an Islamic Account. Hedging is allowed, and you get an account manager to help you out. You can start trading with a minimum deposit of just $5.
  • Standard Account: If you’re comfortable trading in larger volumes, the Standard Account is for you. The base currency options are the same as the Micro Account, but each lot equals 100,000 units of the base currency. The leverage options are also the same, ranging from 1:1 to 1:1000. Spreads are competitive, starting as low as 1 pip, and there are no commissions on trades. The Standard Account also offers the option for an Islamic Account and allows hedging. You get an account manager to assist you, and the minimum deposit is also $5.

Both account types offer a range of features to suit different trading styles and preferences.

Funding

GeneTrade provides a range of funding options to accommodate clients globally. The deposit methods include:

  • Credit / Debit Card: This is probably the most straightforward way to fund your account. Just whip out your card, enter the details, and you’re good to go. The best part? GeneTrade covers all the fees that might be deducted when you make a payment using your card. You can deposit in any currency, and there are no fees or commissions. The minimum deposit is just $5 (or the equivalent in your currency), and the processing time is instant. So, you can start trading almost immediately.
  • e-Wallets: If you prefer using e-wallets, GeneTrade has got you covered. They cover all the fees deducted when you make a payment using an e-wallet. You can deposit in any currency. However, please note that using an e-wallet to make a deposit is subject to certain fees. For instance, if you use Skrill, you’ll be charged 2% of your deposited amount. But don’t let that deter you. E-wallets can be a convenient and secure way to fund your account.

Conclusion

In wrapping up, GeneTrade is a broker that offers some strong features, such as a variety of account types, flexible leverage, and a range of funding methods. They also provide a selection of markets to trade in, including Forex, Equity Indices, and Precious Metals. However, it’s worth noting that while GeneTrade offers these features, there are other brokers with longer track records that might be worth considering as alternative options. For additional choices, we encourage you to explore our trading brokers reviews.

GeneTrade Logo

$5

GeneTrade is a forex broker that offers a variety of trading services to its clients. GeneTrade offers a variety of markets, account types, and funding methods, and is regulated by the IFSC. The company provides the popular MT4 trading platform across various devices, allowing traders to customize their trading strategies.

Between 74-89% of retail investor accounts lose money when trading CFDs with this provider.


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