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GeneTrade
GeneTrade is a Belize International Financial Services Commission（IFSC）licensed Forex broker founded in 2014. Although it is a company with a short history of operation and a low profile, it is a reliable and trustable forex broker due to its quick responses to support enquiries.
GeneTrade features leverage that can be set up to 1：1,000 and a rich deposit bonus. The deposit bonus grants 50% of the deposit amount and has a high maximum amount of $ 5,000（USD）. This allows you to trade with a significant increase in the funds.
There are two types of accounts offered by GeneTrade, Micro account and Standard account, and the same spread is applied to both accounts. The average spread is USD/JPY 1.8pips and EUR/USD 1.7pips, which is higher than many of the other popular brokers. The difference between Micro account and Standard account is the currency units per lot. 1 lot in Micro account is 1,000 units, and in Standard account it is 100,000 units. Since the minimum order size is 0.01 lot, it is possible to trade from 10 currency units with Micro account.
GeneTrade's unique service offers copy trading using SIRIX. Although it is a browser-based trading tool that is not well-known, it can be accessed by using a MetaTrader4 account, allowing the use of convenient functions such as copy trading and one-click execution that are not available in MetaTrader4.
The disadvantages of GeneTrade are that the lineup of CFD products is small, the only trading tool that can be used is MetaTrader4, and the number of advantages and uniqueness when compared with other companies is small. It is a Forex broker with a bright future, but the current state leaves room for improvement.
Pros
- Wide range of bonus programs
- Low minimum deposit $ 5（USD）
- High leverage up to 1：1,000
Cons
- Large spread
- MT5 is not provided
- Few CFD products
- No deposit service via bank transfer
Operating Company
- Company name:
- Genius Trading LTD
- Head office address:
- 5 Cork Street, Belize City, Belize
- Financial license:
- Belize International Financial Services Commission（IFSC）
- Founded:
- 2014
- Capital:
- Undisclosed
Customer Service
- Website language:
【Asia】Japanese
【Europe and America】English
- Trading platform:
- MetaTrader4
- English support:
- Email・Support Chat
- Business hours:
- （Weekdays）24 hours
- Email address:
- [email protected]
- Phone number:
- N/A
Trading Rules
- Roll over:
- 0:00（Server time）
- Margin call:
- When the margin maintenance rate falls below 50%
- Loss cut:
- When the margin maintenance rate falls below 20%
- Matched order:
- Permitted
- EA restrictions:
- None
- Request for additional margin:
- None（If the margin becomes negative, zero cut will be performed）
- Funds management:
- Managed in a segregated bank account
- Bankruptcy compensation:
- Full deposit compensation is not guaranteed
Conditions for Each Account Type
- Trading platform:
- MetaTrader4
- Brokerage model:
- STP method
- Spread method:
- Variable spreads
- Trading account currency:
- Japanese Yen・US Dollar・Euro・Pound・Hungarian Forint（2 other currencies are available）
- Maximum leverage:
- 1：1,000
- Initial minimum deposit:
$ 5（USD）
- Lot size:
- 【Standard】100,000 units
【Micro】1,000 units
- Minimum order size:
- 0.01 lot
- Maximum order size:
- 【Standard】50 lots
【Micro】100 lots
- Maximum open orders:
- 【Standard】10,000 lots
【Micro】1 million lots
- Instruments（symbols）:
【FX/Currency Pair】：57
【CFD/Metals】：2
- Available trading hours:
（Monday）0:05 am - （Friday）11:50 pm（Server time）
- Transaction fees:
- None
- Account maintenance fee:
- None
- Holding multiple accounts:
- Permitted
- GMT time difference:
- 【MT4】Daylight saving time：+3 hours, Winter time：+2 hours
We hope you find this article useful. Any comments or suggestions will be greatly appreciated.
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