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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 (MT4) account, allowing the use of convenient functions such as copy trading and one-click execution that are not available in MT4.

The disadvantages of GeneTrade are that the lineup of CFD products is small, the only trading tool that can be used is MT4, 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.

Official Website

Pros

  1. Wide range of bonus programs
  2. Low minimum deposit $ 5 (USD)
  3. High leverage up to 1:1,000

Cons

  1. Large spread
  2. MT5 is not provided
  3. Few CFD products
  4. No deposit service via bank transfer

Operating Company

Company name:
Genius Trading LTD
Head office address:
5 Cork Street, Belize City, Belize
Financial supervisor:
Belize International Financial Services Commission(IFSC) license number 270/195
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]: 55
[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
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