Genetrade Review 2024
Regulation:
  • IFSC
Bonus for deposit:
  • 0%

Genetrade Review 2024

Updated:
Updated: October 06, 2023

4.02

/

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
Bonus for deposit:
  • 0%

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Summary of Genetrade Trading Company

Genetrade is a broker with higher-than-average risk and the TU Overall Score of 4.02 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. Genetrade ranks 216 among 406 companies featured in the TU Ranking, which is based on the evaluation of 100+ criteria and a test on how to open an account.

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.

💰 Account currency: USD, EUR, GBP, JPY, HUF, PLN, ZAR
🚀 Minimum deposit: 5 USD
⚖️ Leverage: 1:1000
💱 Spread: from 1 p
🔧 Instruments: Forex, Metals, CFDs – Indices, Commodities.
💹 Margin Call / Stop Out: 50%/20%

Evaluation of the most influential parameters of Genetrade

User Satisfaction Customer Satisfaction Score (CSAT) is a unique metric of Traders Union based on the analysis of user reviews posted on pages of each broker profile by the visitors of our website from all around the world. We have been collecting these broker reviews for over 13 years, and therefore, we know and understand the level of customer satisfaction with a specific brokerage company better than anyone else.

3.55

/10

Regulation and safety The score for this parameter is based on the licenses a company holds. The higher the level of the license, the higher the score. Obtaining licenses in other jurisdictions also improves a broker’s score. We divide all licenses into three levels:

Level 1 jurisdictions (high level of trust): CFTC – USA, FINMA – Switzerland, FCA — UK, ASIC – Australia, CBI – Ireland, JFSA — Japan, MAS – Singapore, FMA — New Zealand, IIROC – Canada, SFC – Hong Kong.

Level 2 jurisdictions (medium level of trust): CySEC – Cyprus, FSCA – South Africa, CBRC – China, SEBI – India, ISA – Israel, SECT – Thailand, DFSA – United Arab Emirates

Level 3 jurisdictions (low level of trust): FSC – Belize, FSC – British Virgin Islands, FSC – Mauritius, VFSC – Vanuatu, SCB – The Bahamas, BMA – Bermuda, CIMA – Cayman Islands

5.73

/10

Commissions and fees This parameter comprises a comprehensive analysis of all commissions and fees charged by a brokerage company, including trading and deposit/withdrawal fees. Also specific fees, for example the inactivity fee, are taken into account in the final score for the fees. Users can find detailed fees charged by a company in the broker’s profile.

7.14

/10

Trading instruments For this parameter, we evaluate the number of trading assets a broker offers access to in each group of financial instruments. We analyze the quotes a broker offers on Forex pairs, metals, indices, commodities, stocks, and cryptocurrencies. This parameter also includes evaluation of broker’s investment programs, for example access to copy trading, which we regard as an additional type of a trading instrument.

6.37

/10

Brand popularity Traders Union experts are confident that brand awareness mostly fully reflects the real state of affairs in a company – the more popular the broker, the more people trust it. The score for this indicator is based on the data analysis of such services as Ahrefs and SemRush, which show how often a company’s brand is searched on Google. In addition, indicators of the SimilarWeb service, which show the approximate number of visitors of the broker’s website, are also taken into consideration. We also review disclosed official reports of brokers, which allow for evaluating their client base.

1.77

/10

Customer support The score of this parameter is based on the number of available communication channels of a company’s support service. The quicker and easier it is to contact the broker’s support, the higher the score. We check every available support channel, test the speed of processing of requests and completeness of provided information through several interactions.

2.48

/10

Education This parameter provides an evaluation of a company’s capacity to work with beginners. Only quality training and provision of full and unbiased information can help novice traders and investors minimize the risks of losing money, even when working with top-ranked companies. Brokers with useful educational and informational tools, including webinars, tutorials, podcasts and articles, receive higher scores.

2.19

/10

Geographic Distribution of Genetrade Traders

Popularity in

31.3%
JP
Japan
28.4%
FR
France
8.8%
CO
Colombia
7.84%
ZA
South Africa
7.25%
ES
Spain
5.86%
TR
Turkey
5.7%
SK
Slovakia
4.67%
NL
Netherlands
4.1%
EC
Ecuador
4.04%
DE
Germany
14.04%
Others
Others

User Satisfaction i

7 comments
Total score:
2.6 /10

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uthpala
8 weeks 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
1 year ago

Do not allow to close orders, takes fly off.

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jeannaluce9017033425
1 year 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
2 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
2 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
3 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
3 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!

Dynamics of Genetrade’s popularity among
Traders Union’s traders, according to 2023 data

Logo TU
20,0%
Top 3
10,0%
Top 5
7,0%
Top 10
5,0%
Top 20
1,0%
Top 40
0,5%
Top 100
0,2%
Top 100+
0,05%
Jan.
Feb.
Mar.
Apr.
May.
Jun.
Jul.
Aug.
Sep.
Oct.
Nov.
Dec.

Trading Conditions for Genetrade Users

💻 Trading platform: MT4, WebTrader, Mobile Apps
📊 Accounts: Micro, Standard
💰 Account currency: USD, EUR, GBP, JPY, HUF, PLN, ZAR
💵 Replenishment / 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
💱 Spread: from 1 p
🔧 Instruments: Forex, Metals, CFDs – Indices, Commodities.
💹 Margin Call / Stop Out: 50%/20%
🏛 Liquidity provider: No
📱 Mobile trading: Mobile Apps
➕ Affiliate program: No
📋 Orders execution: Market Execution
⭐ Trading features: Free VPS Service
🎁 Contests and bonuses: 50% Deposit Bonus

Comparison of Genetrade with other Brokers

Genetrade RoboForex Eightcap Exness Gerchik&Co IC Markets
Trading
platform
MT4, WebTrader, Mobile Apps MT4, MT5, R MobileTrader, R StocksTrader, R WebTrader MT4, MT5 Exness Trade App (mobile), Exness Terminal (web), MetaTrader5, MetaTrader4 MetaTrader4, MetaTrader5 MT4, cTrader, MT5, TradingView
Min deposit $5 $10 $100 $10 $100 $200
Leverage From 1:1
to 1:1000
From 1:1
to 1:2000
From 1:30
to 1:500
From 1:1
to 1:2000
From 1:1
to 1:100
From 1:1
to 1:500
Trust management No No No No Yes No
Accrual of % on the balance No No No No No No
Spread From 1 point From 0 points From 0 points From 1 point From 0 points From 0 points
Level of margin call
/ stop out
50%  /  20% 60%  /  40% 80%  /  50% No  /  60% 100%  /  50% 100%  /  50%
Execution of orders Market Execution Market Execution, Instant Execution Market Execution Market Execution, Instant Execution Market Execution Market Execution
No deposit bonus No No No No No No
Cent accounts No Yes No No No No

Broker comparison table of trading instruments

Genetrade RoboForex Eightcap Exness Gerchik&Co IC Markets
Forex Yes Yes Yes Yes Yes Yes
Metalls Yes Yes Yes Yes Yes Yes
Crypto No No Yes Yes Yes Yes
CFD Yes Yes Yes Yes Yes Yes
Indexes Yes Yes Yes Yes Yes Yes
Stock Yes Yes Yes Yes Yes Yes
ETF No Yes No No Yes No
Options No No No No No No

Contacts

Foundation date 2013
Registration address 5 Cork Street, Belize City, Belize
Regulation
Official site
Contacts
All information posted on the Traders Union website is based on reliable and objective data. We have combined our 10 years’ experience in the financial sector and the feedback of our customers to provide you with a true picture of the best forex companies in the market. Detailed information about our methodology.
Genetrade Review Genetrade Review

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FAQs

Do reviews by traders influence the Genetrade rating?

Any review can raise or lower the rating of any broker in the general list of brokers. To read reviews about Genetrade you need to go to the broker's profile.

How to leave a review about Genetrade on the Traders Union website?

To leave a review about Genetrade, register on the Traders Union website or you can also leave a review through Facebook.

Is it possible to leave a comment about Genetrade on a non-Traders Union client?

Anyone can leave feedback about Genetrade on multiple participating clients; however, Traders Union clients also receive additional payments later for working with any broker listed at the Forex market.

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