Trade Genics Review – Be Careful With The tradegenics.co Scam!

Is Trade Genics a Scam Broker?

Trade Genics, despite its impressive claims and beautiful website, is nothing but a fraud disguised. The Italian financial regulator exposed Trade Genics as an illegal firm that offers its services in violation of the law. This website is almost anonymous, as it does not contain a registered address or company name.

If this isn’t enough to make you turn down, keep in mind that the broker has a very unfair and unfavorable policy about deposit/withdrawal procedures.

Trade Genics Regulation and Safety of Funds

Let’s start with something obvious: Trade Genics, an anonymous broker, is not known to be who it is. The entire website has no registered address or company name. This alone will bring down the credibility of this company.

This broker is not the only thing that worries us. CONSOB, the Italian financial regulator, has just blacklisted Trade Genics for being an unauthorised firm. Potential clients are also warned by the watchdog that this company offers investment services contrary to law.

Trade Genics Trading Assets

Trade Genics claims that it offers the most common assets, including forex pairs, commodities and stocks as well as indices, and cryptocurrencies. We cannot confirm this statement because we were unable to register.

Choose only trustworthy and reliable brokers. You can read about the best ones in our article Best online brokers in 2023.

Trade Genics’ Account Types Comparison

Trade Genics has a chart listing all of its account types.

It promises a spread of 0.2 pip for the Beginner account, which seems high without any doubt. Let’s not forget about some important details, such as the broker’s reputation as an untrustworthy company or the possibility of commissions that might be coming up. We can’t verify the volume of these volumes because we didn’t have access to its trading software.

Trade Genics claims that its maximum leverage is 1:500 for its Business account. Other than that, the other accounts offer volumes between 1:100 and 1:300. These amounts are too risky and excessive, so the broker cannot be licensed. For reference, leverage restrictions are in place in many countries such as 1:30 for the UK or the EU and 1:50 for the US.

Trade Genics: Withdrawal and Deposit

A broker will require 250 USD as a minimum deposit. This is quite standard for this sector. Some brokers offer micro accounts at a lower price, around 10 USD or 5 USD.

This broker’s Terms and Conditions outlines all requirements for withdrawals and deposits. These conditions are not in your favor.

Trade Genics charges fees for any withdrawal request. These include 50 USD for wire transfers and 25 USD credit cards. There is also a 10 USD processing fee for e-wallet payments. These fees are unfair and highly disadvantageous, so it is best to avoid depositing there.

For wire transfers, the minimum withdrawal is 250 USD. However, for any other payment method, it requires a minimum of 100 USD. However, it is not recommended to invest here due to the above fees.

Every day new scam brokers and trading bots appear on the web with only one goal – to steal your money. We have already exposed some of them, for example – FKD, Trade Capitol, CGMA Trade.

Trade Genics: Video

You can also write a comment under the video on our YouTube channel to tell other traders about your experience. But if you’ve already been a victim, contact us for a free consultation by filling out the form at the top of the page.
Below you will find a short video about Trade Genics. Watch it so you don’t miss anything important. In a few minutes you’ll learn the whole truth about Trade Genics!