Genius Fx Trade is an online forex broker established in 2023. Genius Fx Trade offers comprehensive financial trading services such as forex, stocks, cryptocurrencies, and commodities. The corporate registration information for Genius Fx Trade is unclear, and there are numerous issues regarding regulatory status and service details. The official website of Genius Fx Trade is: https://geniusfxtrade.live/ The website only supports English and the translation is not available.
Information on the corporate entity of Genius Fx Trade:
Genius Fx Trade claims its registered address is at 128 Queen Victoria St, London EC4V 4BJ, UK, but no registration information for the enterprise could be found through this address and company name in the UK Companies House. The authenticity and legality of the corporate entity are in question. Even though Genius Fx Trade claims to be registered in London, the lack of accessible registration information might imply that the company is not registered according to legal requirements. Moreover, the domain registration date of Genius Fx Trade's official website is September 24, 2023, which is less than a year from the current press date (March 18, 2024), further raising doubts about its reputation and reliability.
Regulatory information of Genius Fx Trade:
Genius Fx Trade claims on its official website to be regulated by regulatory bodies such as CySEC, FSC, and FSA, but no relevant regulatory information was found. Besides, Genius Fx Trade claims to be regulated by FSA but mentions another company named TVH Ltd. These issues suggest that Genius Fx Trade might be involved in false advertising. This lack of transparency and accuracy in regulatory information may lead traders to misunderstand and distrust, increasing their concerns about the platform's reliability.
Account opening process of Genius Fx Trade:
The account opening process at Genius Fx Trade is very simple, as follows:
- Click to register: Find the register button on the official website of Genius Fx Trade and click it.
- Fill in information: Fill in your email address and set a password on the registration page.
- Complete verification: After registration, you will receive a verification email. Click the link in the email to complete verification and successfully open an account.
Account types of Genius Fx Trade:
Genius Fx Trade offers four different account types, catering to traders with varying needs and levels of investment:
- Starter:
- Minimum deposit requirement: $500
- Maximum deposit limit: $1,000
- Interest cycle: Every 3 days
- Trading term: 21 days
- Daily multiplier bonus: 2x
- Principal returned at the end of the term
- Supports instant trading (copy trading/robot)
- Provides demo trading
- Assigned a premium broker
- Basic:
- Minimum deposit requirement: $1,500
- Maximum deposit limit: $4,000
- Interest cycle: Every 3 days
- Trading term: 21 days
- Provides e-wallet bonus
- Principal returned at the end of the term
- Supports instant trading (copy trading/robot)
- Provides demo trading
- Assigned a basic broker
- Professional:
- Minimum deposit requirement: $5,000
- Maximum deposit limit: $9,000
- Interest cycle: Weekly
- Trading term: 1 month
- Provides exclusive daily bonuses
- Principal returned at the end of the term
- Supports instant trading (copy trading/robot nodes)
- Provides demo trading
- Assigned a professional broker
- Executive:
- Minimum deposit requirement: $10,000
- Maximum deposit limit: $50,000
- Interest cycle: Weekly
- Trading term: 1 month
- Provides premium daily bonuses
- Principal returned at the end of the term
- Supports instant trading (copy trading/API keys)
- Provides demo trading
- Assigned an executive level (expert) broker
Each account type offers different levels of services and benefits, including interest payment cycles, trading terms, types of bonuses, and exclusive broker services. Investors can choose the most suitable account type based on their investment capabilities and needs.
Trading products offered by Genius Fx Trade:
Genius Fx Trade offers a variety of trading products, including forex, stocks, cryptocurrencies, and commodities. Despite providing traders with a range of investment options, from traditional stock and forex markets to the increasingly popular cryptocurrencies, the official website lacks detailed information about these trading products. The absence of this information might inconvenience potential traders in making investment decisions, as they cannot easily understand the characteristics, risks, and potential returns of various trading products.
Trading software used by Genius Fx Trade:
Regarding the trading software used by the Genius Fx Trade platform, the official website also does not provide specific information. The lack of transparency in this area might make potential users hesitant about the platform's functionality and user-friendliness, especially for those traders who rely on technical analysis and real-time data for making trading decisions.
Spreads and leverage offered by Genius Fx Trade:
Spreads and leverage are important components of trading costs and risk management. However, Genius Fx Trade's website does not explicitly mention its spread structure and the level of leverage offered.
Deposit and withdrawal methods at Genius Fx Trade:
Reasonable deposit and withdrawal methods are crucial for traders, affecting not only the liquidity of funds but also the convenience of trading. However, Genius Fx Trade does not specify on its official website which deposit and withdrawal methods are supported.
Genius Fx Trade's social media:
Even though Genius Fx Trade's official website displays social media icons, they are merely placeholders and do not link to any valid social media pages. This design might mislead visitors into thinking they can obtain more information or interact with the platform through social media channels.
Customer support at Genius Fx Trade:
Genius Fx Trade only offers an email address nfo@geniusfxtrade.live as a contact method for customer support. In an era where rapid response and instant messaging are becoming standard, this single mode of contact may not meet the needs of all customers, especially those seeking immediate help and support.
Summary:
Overall, there are many questions and uncertainties regarding Genius Fx Trade's corporate entity information, regulatory transparency, and customer service. Even though it claims to be registered in London, it was not found in the registration information of relevant institutions, raising questions about its authenticity and legality. Additionally, its claims of being regulated by multiple regulatory bodies have not been verified, possibly indicating false advertising. Customer support only provides email contact, lacking more communication channels. In summary, users should be cautious when considering Genius Fx Trade as a trading platform and fully understand its various aspects. Currently, Genius Fx Trade is listed as "Suspected Fraud" on TraderKnows.
