GenetiCrypto Review – Is it a Scam or Legit Broker?

Is GenetiCrypto a scam for crypto trading and Forex?

The broker GenetiCrypto claims to be owned by Rapid Service LTD, which is registered in St. Vincent and the Grenadines. However, the contact page states an address in London. This is just one of many inconsistencies.

SVG does not have a regulatory body that oversees the activities of forex trading companies. Therefore, GenetiCrypto’s regulation should fall under the UK FCA. We did not find anything when we checked the database.

We also could not find any providers of Tier1 licenses such as ASIC, CNMV and BaFin. This gave us the impression that we were acting fraudulently.

The leverage caps were the final piece of evidence. ESMA rules require that any company offering financial services within the EEA region must comply with a leverage limit of 1:30 for currency pairs. GenetiCrypto broker allows leverage of up to 1:200.

You are not eligible to receive financial support or compensation funds if your company does not have a trading license.

GenetiCrypto tries to appear as a legitimate broker, but it is not. GenetiCrypto is an offshore company that has not been licensed. It also has a low consumer trust index, which suggests low trust.

Do GenetiCrypto scam victims live in Canada?

The GenetiCrypto scam has been in operation since June 2022. This is the majority of customers who were scammed:

• France
• Switzerland
• Denmark
• Norway
• Netherlands

You will notice that GenetiCrypto reviews from these countries are mainly related to withdrawals.

Beware of scammers like MountainWolf Investment, Royal Oak Investment and FTSFX. Please inform us about any scams you have experienced.

GenetiCrypto Platform – Trading Software

We have reviewed GenetiCrypto’s trading platform in detail. We wanted to take a look at it as it is widely considered to be the best trading platform. Imagine our surprise when we found that traders do not have access to WebTrader basic.

GenetiCrypto promises web-based software and MetaTrader5 in its T&Cs. Our search for MT5 was unsuccessful, as WebTrader is the only tool you can use after registering your account. Fraudulent brokers often use MetaTrader to lure their victims into the scam. If you can recognize a trustworthy name, you are more inclined to deposit money.

However, in reality, it is possible to just use a simple internet-based trader that offers various features like stop loss or take profit.

GenetiCrypto Mobile Application – How can I download it?

A mobile application is another promise of this broker. Once again, it failed to deliver. Logging in to GenetiCrypto can only be done through a web browser, regardless of which device you use.

A mobile app would be possible if MT4 and MT5 were available.

Social trading

WebTrader claims to support social trading and EAs. While we didn’t find any information about automated trading, the social trading option doesn’t seem to be as reliable. A picture of bulls and bears is included, supposedly showing the traders’ feelings towards the assets. A list of traders who have opened trades and the amount they have made is also included.

This list is easy to fake, so we do not trust it.

What can I trade with GenetiCrypto broker?

GenetiCrypto Forex brokers and CFD brokers allow trading on several markets, including:

• AUD/CAD/GBP/TRY currency pairs
• Commodities – rice, cocoa, XAG/USD
• Indices – HangSeng45. Amsterdam25. Japan225.
• Equities – LMT, BA and BABA
• Cryptocurrencies – DIA, EOS, LINK
• ETFs – LIT, KBE and QQQ.

The offering may look solid, but the company is not licensed.

GenetiCrypto demo account – can I trade for free?

The types of GenetiCrypto accounts are not listed. We don’t know the fees and trading conditions for certain accounts. We do not know about GenetiCrypto’s minimum deposit.

After we registered for an account, we were able to access the platform overview. However, until the money was deposited, it was not possible to trade. Demo accounts are not available. GenetiCrypto is not comparable to other reputable brokers. GenetiCrypto does not want you to spend too much time researching and miss out on the trading opportunities they have to offer.

After you have invested, the reality is that the company will not let you withdraw.

What is a chargeback?

Chargebacks are a way for your bank to reclaim funds from the merchant. We recommend that you contact us immediately to initiate the process. In a free consultation, we will discuss how to get your money back immediately!

GenetiCrypto: Video

Below you will find a short video about GenetiCrypto. Watch it so you don’t miss anything important. In a few minutes you’ll learn the whole truth about GenetiCrypto!