Geneticrypto is a Forex and CFD trading provider owned by a company registered in Saint Vincent and the Grenadines. However, the firm insists that its main office is in the UK, and they provide Bitcoin exchange services to UK residents. Is this legitimate? Of course not.
Read our Geneticrypto review and find out how this trading scam operates.
To add to the foregoing, we strongly advise you to ignore brokers such as Bontobel, BullGeko, and Supreme Capital.
| Broker status: | Offshore Broker |
| Regulated by: | Unlicensed Scam Brokerage |
| Scammers Websites: | geneticrypto.com |
| Blacklisted as a Scam by: | N/A |
| Owned by: | Rapid Service LTD |
| Headquarters Country: | Saint Vincent and the Grenadines |
| Foundation year: | 2021 |
| Supported Platforms: | WebTrader |
| Minimum Deposit: | N/A |
| Cryptocurrencies: | Available – BTC, ETH, XRP |
| Types of Assets: | Forex, commodities, indices, shares, cryptocurrencies |
| Maximum Leverage: | 1:200 |
| Free Demo Account: | No |
| Accepts US clients: | Yes |
Is Geneticrypto a Licensed Broker?
Geneticrypto is a Rapid Service LTD brand registered in St. Vincent and the Grenadines. The main issue here is the regulation. SVG doesn’t have a valid financial regulator for Forex and binary options trading firms. Instead, customers are redirected to opt for a license in the country of service.
Since the broker claims to have offices in the UK, we’ve checked the FCA register first. As suspected, nothing to be found. The firm is not regulated by CONSOB, ASIC, BaFin, FINMA, or any other reputable license provider.
How Unsafe Is An Unlicensed Broker?
Unlicensed brokers are pretty unsafe. Investing your funds with an unregulated company equals giving your money to a bank with no authorization from the Central bank. Without regulation, you have no safety and no money-back guarantee.
So Is Geneticrypto a Decent Broker or a Scam?
Geneticrypto is not a licensed brokerage. The firm is registered in Saint Vincent and the Grenadines and has no financial supervision. The consumer index is low.
Traders’ Experience With Geneticrypto
Geneticrypto is not a licensed financial services provider. Thus, reviews are unsurprisingly negative. According to customers, if you want to deposit with this trading firm, you will be treated amazingly. Yet, when you ask for a payout, your problems will start.
If you experience any issues with this trading brokerage, request a chargeback immediately.
Geneticrypto Trading Platform – Advanced Software?
Geneticrypto says to provide an advanced WebTrader, suitable for both newbies and pro traders. However, a web-based platform can never compare with MT4 or MT5.
According to our research, the platform is not a typical TradingView chart and supports social trading. Customers are invited to copy trades of the best investors and gain profit without analyzing the market themselves. Since Geneticrypto is a bogus unlicensed firm, we’re unsure if you’re following real traders or if the broker is giving random names and results, hoping customers will fail.
Mobile Platform
There’s a corresponding mobile app as well. You can use it on any Android or iOS device.
Customer Support – Communication Channels
Broker customer support will try to get ahold of you in any way possible and persuade you to invest your funds on the spot. They use different communication channels, including phone calls, emails, WhatsApp messages, and social media accounts.
If you’re offered to invest in the financial market, ensure to check your broker first. There are numerous scams out there, and you can never be too careful.
Geneticrypto Range of Trading Instruments & Markets
Those who are still interested in investing with Geneticrypto broker can invest in the following assets:
- Currency pairs – EUR/USD, GBP/USD, EUR/GBP
- Commodities – gold, silver, oil
- Indices – Dow Jones, NASDAQ, DAX30
- Shares – Amazon, Apple, Google
- Cryptocurrencies – BTC, ETH, XRP
Please remember the names of the 4xhub, TheCoinTrust, and VNSmart and stay away from them! Before investing, always check the history of online trading organizations!
What Trading Terms Does Geneticrypto Provide?
When it comes to trading terms, Geneticrypto is quite cryptic. Here’s what we know or don’t know.
Minimum Investment Amount
The minimum deposit is not specified. Practically, you can be approached for any amount, from $1 to thousands of dollars, depending on the evaluation of your financial situation.
About Leverage
The leverage for the Forex market is 1:200. According to the FCA, brokers cannot offer more than 1:30, except for highly experienced retail traders. Thus, this confirms that the company is offshore and follows no regulatory rules.
Geneticrypto Deposit, Withdrawal Methods, And Fees
It looks like this trading firm accepts only two payment methods:
- Debit/credit card
- Wire transfer
Withdrawals have to be performed using the same method you used for a deposit. However, the broker insists you have no right to a chargeback if you use your credit card. In such cases, the company maintains the right to block your funds until there’s a final decision about the chargeback process.
Nobody could prevent you from filing a dispute in case of a fraudulent transaction. Don’t fall for this.
Educational Features – Free Education for Customers
The broker claims to offer 3 types of educational materials:
- Videos
- Books
- News
As you can see on their website, the news is simply collected from the internet, something you can do yourself. The electronic book contains a basic glossary of Forex and CFD trading terms. As per the videos, we haven’t found any.
Education is just another lure to hook inexperienced clients into investing and defraud them. Beware.
Scammed by Geneticrypto Broker? – Let Us Hear Your Story
If you or someone close to you ends up being a victim of the Geneticrypto scam, don’t get desperate. Contact us via online chat to book a free consultation with our chargeback expert and let’s see how to protect yourself and your rights.
But What Is A Chargeback?
A chargeback is a way for your bank to reverse the fraudulent transaction. Contact us right away and let’s not waste more time.