Although as welcoming and trustworthy as the Geneticrypto web page may look at first glance, bear in mind that first looks might often be deceptive. This is especially true when it comes to a zero-credibility website. This website fraudulently claims to be licensed and authorized, while in reality, it bears all the telltale signs of a scam we can possibly think of.
Then you might want to think again and read the following lines if you are still considering trading forex pairs, shares, indices, ETFs, commodities, and crypto coins on a platform advertised as “the most advanced” in the industry.
Is GenetiCrypto Legit? Regulation and Fund Security
You should know that Geneticrypto claims to be licensed in St. Vincent and the Grenadines. However, this is entirely impossible. How? The monetary authorities in the region don’t pay attention to the forex market. Be that as it may, they do not issue forex licenses at all.
Notably, the Financial Services Authority of St. Vincent and the Grenadines issued a warning on the topic. They informed the public that the FSA does not have the authority to regulate the FX trading industry.
Note: There are some businesses that market systems—signal sellers or bots—and often sell unsafe things that do not yield any results. These scammy web pages often prey on new traders on many venues or forums. You need to be aware of this!
Trading Platform Offered at GenetiCrypto
You can see that Geneticrypto broker offers web-based trading software.
According to first impressions, this platform may appear to be satisfactory. Among its many features are an admirable charting and analysis packet, a social trading solution, and a news feed. It may be a practical choice for newbie traders since the software is easy to use.
While the trading platform is satisfactory, we could not approve your trading with this broker because of its less-than-trustworthy reputation.
Always look for legit brokers that can deliver the best software in MT4 & 5. Correspondingly, never forget that licensed status is critical.
Tip: MetaTrader5 is available as a web application in addition to its avant-garde PC version. Using any browser will allow you to access it. There is even a mobile application for the platform, available for Android devices. It’s too bad iOS doesn’t support it yet.
Available Trading Instruments at GenetiCrypto
Now it’s time to take a look at the trading instruments this broker has to offer. For a minimum of $250, Geneticrypto offers access to FX, commodities, indices, stocks, crypto assets, and ETFs. This is indeed a broad spectrum of trading instruments for a respectable price.
Even so, you will discover that many honest and regulated brokers offer just as promising conditions at significantly less expense. So, make sure that you find a legitimate broker to trade with. There are many good options out there!
Account Types at GenetiCrypto
There is no data regarding specific types of trading accounts. You won’t be able to find much on their website before you register.
The Geneticrypto broker scam has a maximum leverage of 1:200 on FX majors.
The leverage for the FX market is 1:200. In accordance with FCA regulations, brokers cannot offer more than 1:30, except for highly professional retail traders. As a result, this proves that the company is offshore and is not subject to any regulatory requirements.
How Do They Initiate The Scam?
Fake offshore forex brokers work in many ways. The truth is, you will see several withdrawal complaints and issues. Aside from that, there are odd fees. Keep in mind that there are extremely high fees, that go above 20%. The fees are usually referred to as withdrawal processing fees.
Furthermore, there’s always some sort of profit fee. Deceitful sites will want you to pay these in advance before even initiating any withdrawal request.
Likewise, there are unreasonable promised returns. This is another famous deception technique that you should be mindful of. Fraudsters will always promise you tremendous profits. Be aware that trading with highly leveraged instruments bears significant risks. Any broker scam will try to persuade you that your profits are guaranteed.
Stay with brokers held in the EU, the US, the United Kingdom, and Australia. These need to post a sign about the percentage of people who lose cash on their platforms. This goes without saying!
Deposit and Withdrawal Methods
Research shows that Geneticrypto broker just accepts Visa and MasterCard. However, this is done via one of a few unpopular payment service providers. The broker also spoke of charging deposit and withdrawal fees but did not define their size.
Please do not deposit your money with this business since they are not trustworthy. However, if that has already occurred, you may still have the likelihood of recovering your cash. Both Visa and MasterCard try to battle such scams by letting chargebacks within 540 days of the transaction.
Reliable Forex Brokers
In this table, there’s a list of the most reliable forex brokers. Check out some of them!
|FXTM Broker||Cyprus, UK, Mauritius||4.5||$10||Forextime.Com|
|OctaFX Broker||Cyprus, SVG||4.4||$100||OctaFX.Com|
|FP Markets Broker||Australia, Cyprus||4.7||$100||FpMarkets.Com|
|XM Broker||Cyprus, Belize, Australia||4.7||$5||XM.Com|
|HFM HF Markets Broker||Cyprus, UK, South Africa, UAE, Kenya||4.3||$5||HFM.Com|
|FBS Broker||Cyprus, Belize, Marshall Islands||4.85||$100||FBS.Com|
Geneticrypto broker is an investment scam. The best course of action is to stay away from it.
As you may see from this Geneticrypto review, there are many reasons to avoid this trading scam. This broker uses fake addresses, and everything about it is shady.
If you have any negative experiences with this deceitful broker, let us know. We can help you report this unscrupulous broker.
FAQs About GenetiCrypto Broker
What Are the Funding Methods for GenetiCrypto?
In regard to the funding options, Geneticrypto broker accepts Visa and MasterCard.
Is GenetiCrypto Regulated?
Geneticrypto broker is not authorized and not regulated at all. Please stay away from it!
How Long Does it Take to Withdraw from GenetiCrypto?
It is not possible to withdraw money from this broker scam. So, time is not the issue.