Genie Markets is a forex broker officially registered on August 20, 2023. This broker mainly offers a wide range of trading markets through its proprietary trading platform and mobile application, including Forex, Stocks, Indices, Energy, Metals, Cryptocurrencies, and ETF Contracts for Difference (CFDs).
Corporate Registration Information and Regulatory Status:
Public information on the Genie Markets official website shows that the broker is made up of multiple corporate entities, regulated by several agencies. Genie Markets Ltd is authorized and licensed by the Cyprus Securities and Exchange Commission (CySEC), with license number 177805. Genie Markets (registration number HRB169257B) is a designated agent of Genie Markets Ltd in Germany, registered with the Federal Financial Supervisory Authority (BaFin), and was also authorized by the Financial Services Commission (FSC) of Mauritius as an investment dealer on October 2, 2017, regulated under license number C175894381. TVH Ltd is authorized and regulated by the Financial Services Authority (FSA) of Seychelles, with license number SD055.
According to verification of its public information, the regulatory information of this broker could not be found with the Cyprus Securities and Exchange Commission (CySEC), the Federal Financial Supervisory Authority (BaFin), the Financial Services Commission (FSC) of Mauritius, or the Financial Services Authority (FSA) of Seychelles.
Opening an Account:
To open an account with Genie Markets: Visit the broker's official website, click on "SIGN UP FOR FREE" or "SIGN UP" at the top right corner of the homepage to access the account registration page, fill in personal information such as name, email address, and set a login password before submitting. Once the application is submitted, the account registration is successful.
Trading Plans:
Genie Markets offers users four trading plans: STARTER, BASIC, PRO, EXECUTIVE.
STARTER:
- Minimum investment amount: $500
- Maximum investment amount: $1,000
- Investment return rate: 6.50%
- Overnight interest for three days
- Trading period: 21 days
- Double bonus daily
- Instant trading methods: Copy trading/Trading robot
- Provides demo trading
- Provides advanced brokers
BASIC:
- Minimum investment amount: $1,500
- Maximum investment amount: $4,000
- Investment return rate: 10.50%
- Overnight interest for three days
- Trading period: 21 days
- Bonuses sent via e-wallet
- Instant trading methods: Copy trading/Trading robot
- Provides demo trading
- Provides basic brokers
PRO:
- Minimum investment amount: $5,000
- Maximum investment amount: $9,000
- Investment return rate: 15.50%
- Weekly overnight interest
- Trading period: 1 month
- Exclusive daily bonus
- Instant trading methods: Copy trading/Trading robot
- Provides demo trading
- Provides professional brokers
EXECUTIVE:
- Minimum investment amount: $10,000
- Maximum investment amount: $50,000
- Investment return rate: 20.30%
- Weekly overnight interest
- Trading period: 1 month
- Advanced daily bonus
- Instant trading methods: Copy trading/API Keys
- Provides demo trading
- Provides executive brokers (experts)
Trading Platform:
Genie Markets offers users a proprietary trading platform.
Deposits and Withdrawals:
Genie Markets supports deposits and withdrawals through local banks, e-wallets, or cryptocurrencies.
Conclusion:
Traderknows reminds investors that Genie Markets is a scam platform providing false regulatory information and enticing investors with so-called high returns. Traderknows advises investors to choose brokers with transparent information, strong regulation, and good reputation for investment activities to avoid unnecessary financial losses.
Currently, this broker is marked as a "Ponzi scheme" on Traderknows.
