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
- IFSC
- 2013
Our Evaluation of Genetrade
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
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
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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.
- Is regulated
- Negative balance protection
- Track record over 12 years
- Not tier-1 regulated
Genetrade Regulators and Investor Protection
| Abbreviation | Full Name | Country of regulation | Investor Protection Fund | Regulation Level |
|---|---|---|---|---|
 FSC (Belize) |
Financial Services Commission of Belize | Belize | No specific fund | Tier-3 |
 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 |
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.
- No inactivity fee
- No deposit fee
- No withdrawal fee
- 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 |
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.
Any trader can open a demo account to test Genetrade's trading conditions. Up to 5 active demo accounts are allowed at once.
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.
- No withdrawal fee
- BTC available as a base account currency
- Supports 5+ base account currencies
- Minimum deposit below industry average
- 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.
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.
- Indices trading
- 50 supported currency pairs
- 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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