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4.58/10
TU Overall Score
The purpose of creating the TU Overall Score is to make the search for secure and reliable brokerage companies easier for the visitors of our website. We believe that it is a very important mission as, unfortunately, not every company in the financial industry is worthy of trust.

According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
Regulation:
  • IFSC
Foundation date:
  • 2013
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Our Evaluation of Genetrade

4.58/10
TU Overall Score
The purpose of creating the TU Overall Score is to make the search for secure and reliable brokerage companies easier for the visitors of our website. We believe that it is a very important mission as, unfortunately, not every company in the financial industry is worthy of trust.

According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
Traders Union icon

Genetrade is a broker with higher-than-average risk and the TU Overall Score of 4.58 out of 10. Having reviewed trading opportunities offered by the company and reviews posted by Genetrade clients on our website, Traders Union expert Anton Kharitonov recommends users to consider a more reliable broker with better conditions, as, according to reviews, many clients of this broker are not satisfied with the company’s work.

Brief Look at Genetrade

GeneTrade operated by Genius Trading LTD is authorized and regulated by the International Financial Services Commission (IFSC), License 000270/436. GeneTrade was founded with the aim to offer top trading conditions to each and every customer. The goal was reached thanks to careful selection of every GeneTrade team member and constant implementation of innovative technologies in the field.

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Genetrade Trading Conditions

💻 Trading platform: MT4, WebTrader, Mobile Apps
📊 Accounts: Micro, Standard
💰 Account currency: USD, EUR, GBP, JPY, HUF, PLN, ZAR
💵 Deposit / Withdrawal: Bank Transfer, Credit Cards, e-Wallets - Skrill, Neteller, BitWallet, PayTrust
🚀 Minimum deposit: 5 USD
⚖️ Leverage: 1:1000
💼 PAMM-accounts: No
📈️ Min Order: 0,01
💱 EUR/USD spread: 0,16-0,3 pips
🔧 Instruments: Forex, Metals, CFDs – Indices, Commodities.
💹 Margin Call / Stop Out: 50%/20%
🏛 Liquidity provider: No
📱 Mobile trading: Mobile Apps
➕ Affiliate program: No
📋 Order execution: Market Execution
⭐ Trading features: Free VPS Service
🎁 Contests and bonuses: 50% Deposit Bonus

Genetrade Key Parameters Evaluation

User Satisfaction i

Score:
2.6/10

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uthpala
1 year ago

I am 100% sure that Genetrade does not improve the quality of its services, it only assures its clients about it. It seems to me that the speed of order processing could have been improved long ago. The same with the terms and conditions, it's time to change. I think these are all bad signs, the stability of the company is in question.

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rainaoconnell143
2 years ago

Do not allow to close orders, takes fly off.

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jeannaluce9017033425
3 years ago

They do not transfer money for the last transaction. The funds have been withdrawn from the trading account. It's been 3 weeks already. To letters of inquiry, replies continue that they allegedly do not violate anything and do everything on time in accordance with the regulations, but alas.

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Dorothypref
3 years ago

As a beginner trader, Genetrade suits me. It is still too early for me to think about serious money in Forex, and for gaining experience, the broker is suitable in all respects. You can start with $5, but on a cent account with leverage up to 1:1000, you don't need more. I tried scalping, but after the first trades I realized that it was not for me. It is impossible to take more than 10 pips, and spreads sometimes widen to 5 pips. Taking into account the fact that there are also negative transactions, such trading can only lead to the drain of the deposit. I will change my strategy. I can’t say anything specific about the withdrawal of funds, because during the training period it doesn’t matter to me: if they don’t pay my 5-10 bucks, it’s okay.

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sameh01084
4 years ago

I am taking $ 800 from Genetrade for the fourth month. Give away with a scandal and small shares. There is a feeling that I cannot take all the money until the last cent, even if they will throw it for a hundred square meters.

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marcius
4 years ago

Well, Genetrade has conditions! In my opinion, the guys bent tight. Bullshit! that's how they withdraw money !!! I heard from a friend that they do not like to do this at all. He's worn out with them, dear mom!

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myvie
4 years ago

I cannot withdraw money from Genetrade. They ask to go through verification, although I was previously told that the verification was successfully completed. Moreover, they closed some of my positions. I see that not only me faced such problems. Everything is clear, the company is unscrupulous!

Score:
We evaluate brokers' safety based on several key criteria. The highest value is placed on regulation, especially Tier 1 regulation, which ensures adherence to stringent standards set by top financial authorities like the FCA in the UK, CFTC in the US, CySEc and BaFin (EU) or ASIC (Australia). High scores are also given for participation in investor protection funds, which safeguard clients' funds in case of broker insolvency. Learn the assessment criteria
4.9/10

Regulation and safety

Genetrade has a safety score of 4.9/10, which corresponds to a Low security level. The safest brokers are those with Tier-1 regulation, a long history (over 10 years in the market), and participation in investor compensation schemes.

Advantages
  • Is regulated
  • Negative balance protection
  • Track record over 12 years
Disadvantages
  • Not tier-1 regulated

Genetrade Regulators and Investor Protection

Abbreviation Full Name Country of regulation Investor Protection Fund Regulation Level
FSC (Belize) FSC (Belize) Financial Services Commission of Belize Belize No specific fund Tier-3
The Financial Commission The Financial Commission The Financial Commission International Up to €20,000 Tier-3

Genetrade Security Factors

Foundation date 2013
Negative balance protection Yes
Verification (KYC) Yes
Score:
We evaluate brokers' fees and spreads by assessing the costs associated with Standard and ECN/Raw spread accounts, including commissions and spreads. Additionally, our evaluation considers extra fees such as deposit/withdrawal charges and inactivity fees. Learn the assessment criteria
6/10

Commissions and fees

The trading and non-trading commissions of broker Genetrade have been analyzed and rated as Medium with a fees score of 6/10. Additionally, these commissions were compared with those of the top two competitors, Pepperstone and OANDA, to provide the most comprehensive information.

Advantages
  • No inactivity fee
  • No deposit fee
  • No withdrawal fee
Disadvantages
  • Above-average Forex trading fees
  • No ECN/Raw Spread account

Trading Fees and Spread

Below, we evaluated and compared the trading commissions of Genetrade with those of two competitors. We focused on the spreads and other transaction fees directly associated with executing trades (e.g commission per lot on an ECN account). This comparison aimed to provide a clear understanding of the cost efficiency of each broker.

Standard Account Spread

For Standard accounts, Genetrade’s commissions are part of the floating spread, which varies with market conditions. Typical values are provided, but during high volatility, the spread may exceed these.

Genetrade Standard spreads

Genetrade Pepperstone OANDA
EUR/USD min, pips 0,16 0,5 0,1
EUR/USD max, pips 0,3 1,5 0,5
GPB/USD min, pips 0,2 0,4 0,1
GPB/USD max, pips 0,4 1,4 0,5

Does Genetrade support RAW/ECN accounts?

As we discovered, Genetrade does not offer RAW/ECN accounts, which might be a drawback for transparency and liquidity. However, this doesn't make the broker uncompetitive. Consider factors like spread levels, execution speed, regulation, support quality, and trading tools when choosing a reliable broker.

Non-Trading Fees

We conducted a detailed analysis of the non-trading fees associated with Genetrade. This review offers a comprehensive overview of the additional costs that may impact traders beyond regular trading activities.

Genetrade Non-Trading Fees

Genetrade Pepperstone OANDA
Deposit fee, % 0 0 0
Withdrawal fee, % 0 0 0
Withdrawal fee, USD 0 0 0-15
Inactivity fee ($, per month) 0 0 0
Score:
4.5/10

Account types

Genetrade offers two accounts suitable for both beginners and experienced traders. The base currencies for these accounts include EUR, USD, GBP, PLN, ZAR, JPY, and HUF. Leverage is from 1:1 to 1:1000, and a swap free option is available.

Account Type
Description
Micro
These accounts have a lot size of 1,000 units of the base currency. The minimum deposit is $5, and spreads start from 1 pip.
Standard
These accounts have a contract size of 100,000 units of the base currency. Spreads are the same as Micro accounts but are calculated in USD rather than cents. The minimum deposit is also $5.

Any trader can open a demo account to test Genetrade's trading conditions. Up to 5 active demo accounts are allowed at once.

Score:
This section assesses the efficiency, speed, and affordability of brokers’ transaction processes, focusing on available methods, currencies, and fees. For further details, please refer to our data-focused methodology
6.95/10

Deposit and withdrawal

Genetrade received a Medium score for the efficiency and convenience of its deposit and withdrawal processes.

Genetrade provides a reasonable range of deposit and withdrawal options with moderate fees, in line with industry standards.

Advantages
  • No withdrawal fee
  • BTC available as a base account currency
  • Supports 5+ base account currencies
  • Minimum deposit below industry average
Disadvantages
  • Wise not supported
  • Limited deposit and withdrawal flexibility, leading to higher costs
  • USDT payments not accepted

What are Genetrade deposit and withdrawal options?

Genetrade provides a basic range of deposit and withdrawal options, covering essential methods in line with industry standards. This set of options is sufficient for most traders, with available methods Bank Card, Bank Wire, Skrill, Neteller, BTC.

Genetrade Deposit and Withdrawal Methods vs Competitors

Genetrade Plus500 Pepperstone
Bank Wire Yes Yes Yes
Bank card Yes Yes Yes
PayPal No Yes Yes
Wise No No No
BTC Yes No No

What are Genetrade base account currencies?

A wide range of base account currencies minimizes the need for currency conversion, potentially reducing transaction costs for clients worldwide. Genetrade supports the following base account currencies:

What are Genetrade's minimum deposit and withdrawal amounts?

The minimum deposit on Genetrade is $5, while the minimum withdrawal amount is $10. These minimums may vary depending on the chosen account type and payment method. For specific details, please contact Genetrade’s support team.

Score:
The evaluation in this section is based on the TU methodology and reflects the total number and variety of tradable assets offered by the broker, including Forex currency pairs. It also considers the availability of passive income tools such as PAMM accounts, copy trading, and similar services. All information is obtained from publicly available sources and may change.
2.5/10

Markets and tradable assets

Genetrade offers a limited selection of trading assets compared to the market average. The platform supports 100 assets in total, including 50 Forex pairs.

Advantages
  • Indices trading
  • 50 supported currency pairs
Disadvantages
  • Futures not available
  • Crypto trading not available

Supported markets vs top competitors

We have compared the range of assets and markets supported by Genetrade with its competitors, making it easier for you to find the perfect fit.

Genetrade Plus500 Pepperstone
Currency pairs 50 60 90
Total tradable assets 100 2800 1200
Stocks No Yes Yes
Commodity futures No Yes Yes
Crypto No Yes Yes
Stock indices Yes Yes Yes
Options No Yes No

Investment options

We also explored the trading assets and products Genetrade offers for beginner traders and investors who prefer not to engage in active trading.

Genetrade Plus500 Pepperstone
Bonds No No No
ETFs No Yes Yes
Copy trading No No Yes
PAMM investing No No Yes
Managed accounts No No No

Contacts

Foundation date 2013
Registration address 5 Cork Street, Belize City, Belize
Regulation IFSC Licence number:
000270/436
Official site genetrade.com
Contacts

Comparison of Genetrade with other Brokers

Genetrade Eightcap XM Group RoboForex Pocket Option 4XC
Trading
platform
MT4, WebTrader, Mobile Apps MT4, MT5, TradingView MT4, MT5, MobileTrading, XM App MT4, MT5, R MobileTrader, R StocksTrader, R WebTrader Pocket Option, MT5, MT4 MT5, MT4, WebTrader
Min deposit $5 $100 $5 $10 $5 $50
Leverage From 1:1
to 1:1000
From 1:30
to 1:500
From 1:1
to 1:30
From 1:1
to 1:2000
From 1:1
to 1:1000
From 1:1
to 1:500
Trust management No No No No No Yes
Accrual of % on the balance No No No 10.00% No No
Spread From 1 point From 0 points From 0.8 points From 0 points From 1.2 point From 0 points
Level of margin call
/ stop out
50%  /  20% 80%  /  50% 100%  /  50% 60%  /  40% 30%  /  50% 100%  /  50%
Order Execution Market Execution Market Execution Market Execution Market Execution, Instant Execution Market Execution Market Execution
No deposit bonus No No No No No $50
Cent accounts No No No Yes No No

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