GenetiCrypto offers trading on a convenient platform. Additionally, the company declares that its priority is to achieve excellent results by traders. Unfortunately, not a single client of this broker has become a millionaire yet. On the other hand, you can find quite contradictory reviews about it. We will check if this project is a scam or not.
- GenetiCrypto General Information
- Registration and Client Portal Review
- GenetiCrypto Trading Conditions
- Account Types Review
- Trading Platform
- GenetiCrypto — Deposit and Withdrawal of Funds
- Verification
- Additional Options
- Is GenetiCrypto a Scam?
- Legal Information and License
- Geneticrypto.com Domain Info
- Contacts Review
- More Details
- Pros and Cons
- Frequently Asked Questions (FAQ)
GenetiCrypto General Information
| Website | https://geneticrypto.com/ |
| Phone Number | +442045484993, +442078801688 |
| — | |
| Address | 42 Old Broad St, London, UK |
| License | — |
| Minimum Deposit | — |
| Assets | CFDs |
| Leverage | 1:200 |
| Trading Platform | WebTrader |
Registration and Client Portal Review
The official website of GenetiCrypto is quite original. Its design is bright yellow. In this case, it is rather a losing decision. Such bright colors only distract attention and irritate. The menu is extremely strange. Some important sections are missing from it. It will take a long time to search for important information. Other obvious disadvantages of the site are the persistent urging of traders to open an account immediately and a lot of self-promotion.
You can create an account on the site in just two minutes. Just fill out a small form with personal data:
- First and last name
- Country of residence
- Phone number and email address
- Password.
The Client Portal is combined with the terminal and it looks very strange. However, here you can still fund your account, withdraw money, change account settings, pass verification, and view your trading history. It is also possible to connect with a support employee.
GenetiCrypto Trading Conditions
GenetiCrypto provides its services to both novice and professional clients. The company claims to be a world leader in the field of social trading education. However, it actually offers CFD trading.
Account Types Review
The broker has a single account type. Only the trading conditions for certain instruments differ. For example, when trading contracts for currencies, you will get leverage up to 1:200, and cryptocurrencies only 1:5. Spreads are also very different. Basically, they are 10 points. However, for some tools, for example, indexes can reach even 200. It means that scalpers and short-term traders have nothing to do with this site. The trading conditions of GenetiCrypto are more suitable for clients who prefer to trade in the long term.
Trading Platform
The GenetiCrypto trading platform can hardly be called high-class. This WebTrader looks unattractive. There are not too many indicators in it. Although users are promised MetaTrader5, you cannot download it in your personal area.
GenetiCrypto — Deposit and Withdrawal of Funds
You can only fund your account with a credit card. At the same time, the minimum deposit is $250. According to the banking regulations, the transfer to the cards can take about 5 days. It is not specified how long it will take GenetiCrypto to process your withdrawal request. Commissions are also not mentioned.
Verification
In the GenetiCrypto personal account, the trader can upload documents for verification. The procedure takes from 3 to 5 working days. Without verification, you cannot withdraw funds. Meanwhile, verification is not necessary to fund an account.
The documents that will be required are quite standard. You need to upload color copies of your passport or ID card or driver’s license. To confirm the place of residence, a utility bill will be required.
Additional Options
On the GenetiCrypto website you can watch videos about the Forex market or read books on various topics. They talk about the origin, and evolution of blockchain, as well as the role of cryptocurrency in modern society.
This information is available only after registration. As traders write in the reviews, in this way, GenetiCrypto motivates a potential client to open an account. In the “Partners” section, you can read about the benefits of cooperation in the promotion of broker services. You can get free training and high rewards for inviting newcomers to the site.
Benefits for members of the affiliate program:
- Quick withdrawal of funds
- Full support
- No setup fee (whatever that means).
Is GenetiCrypto a Scam?
Before you fund your account on unfamiliar sites, you’d better make sure of their reliability. Unfortunately, GenetiCrypto can rather be attributed to a scam.
Legal Information and License
GenetiCrypto is managed by a company, Rapid Service LTD, that is registered in Saint Vincent and the Grenadines. Indeed, there is such a legal entity in the registry of this state.
However, in this offshore zone, the Financial Supervision Authority does not issue licenses to Forex and binary options brokers. Additionally, we doubt at all that Rapid Service LTD has anything to do with the broker we are considering. It is a very well-known company with branches in several countries. However, it isn’t a broker, or an investment firm.
Geneticrypto.com Domain Info
GenetiCrypto is little known in the community among crypto enthusiasts. There are almost no reviews about this broker, and the review articles are of a customized nature. Therefore, we checked the domain of the site and found out that it appeared 4 months ago. In a short time, the company could not gain experience and become an industry leader, as its creators say.
By the way, the date of incorporation of the company and the date of registration of the domain are different. That’s why we again conclude that Rapid Service Ltd and GenetiCrypto are not connected in any way.
Contacts Review
You can get in touch with the manager using a phone number or email. GenetiCrypto’s main office is located in the UK and not in Saint Vincent and the Grenadines. However, you should not believe it. In fact, there is no such company at the specified address. Meanwhile, support is amazingly slow to respond to requests.
More Details
In addition to the terrible trading conditions, it should also be mentioned that the company can interfere in the trading process. GenetiCrypto reserves the right to change the size of spreads at its discretion. Moreover, they can expand to unlimited values.
Pros and Cons
- Low minimum deposit.
- Offshore registration.
- Implausible information about GenetiCrypto.
- No license.
- Short period of work.
- Negative reviews.
In fact, GenetiCrypto has nothing to do with cryptocurrency. It offers only CFD trading. At the same time, the company has not received a license, and its term of work is only a few months. You should not cooperate with such scam brokers.
Frequently Asked Questions (FAQ)
It offers CFD trading as well as some additional services such as education and participation in an affiliate program.
According to GenetiCrypto’s terms, you have to fund your account with at least $250.
No, this is an offshore company that has not received a license for its services and operates without any supervision.
Please beware of them
These scammers have nothing to do with brokers at all. People, open your eyes! It can be seen with the naked eye that these are ordinary crooks. They don’t even have a legal registration. They tell people all sorts of nonsense that they work all over the world, waiting for the approval of licenses, etc. They don’t have any of that! I know more than one person who was deceived by these fraudsters. First, they promise that their trader will earn steadily. They promise that there will be no problems or delays. And as soon as a person deposits money, they start extorting more money. As a result, those who do not pay more are simply blocked.
They blocked my account for no reason
I was trying to get my funds back, as the company has deceived me for a large sum. Everything started fine. My balance went to plus. I was counting on this broker to become my reliable financial partner. I entrusted it with a large sum. But when trying to withdraw funds, I was faced with the fact that it was necessary to pay for insurance. I refused it and my account was blocked. Now I don’t have access to money, and managers just ignore me.
Fraudsters robbed me
I give this shit company a big minus, because it promised me fabulous earnings. In fact, GenetiCrypto led me to beggar. It stole all the money from my bank account using AnyDesk. Now it is not going to compensate for the damage. Now I have to borrow from my friends until payday.
Support just can't cope
I don’t know how many stars to give this broker. I cooperate with GenetiCrypto and do not plan to look for an alternative option. However, there are questions about the support, which has been rude to me several times. And usually the managers provide consultations in 5-6 hours. That is not how customers should be treated by a broker if it wants to continue cooperation.