Genesis is a crypto trading platform that claims to offer a variety of trading services to its users. However, there is a growing body of evidence that suggests that Genesis is a scam.
Company Overview
Genesis was founded in 2022 and claims to be headquartered in the United Kingdom. However, there is no evidence to support this claim. The company’s website does not list any contact information for its management team or employees
Does Genesis Have Any License?
No, Genesis does not have any licenses or regulations from any financial authorities. In the Legal section of their “About Us” page, they did not mention any information about their license and regulations.
They show a license from the United States of America Board of Trademarks and Patents. But this is not a license for a company.
Is Genesis Regulated By Any Authority?
No, Genesis is not regulated by any financial authority. They mentioned that their office is in the USA, but you cannot find any regulation confirmation in the FINRA database. You can find two other companies by the same name, but they are not this company.
Genesis Pros and Cons
Pros | Cons |
Professional looking website | No regulation or license |
Good company roadmap | No contact address |
No pricing details | |
How Does Genesis Reach To Their Prey?
Genesis uses a variety of methods to reach out to potential victims. These methods include:
- Online advertising
- Social media
- Cold calls
- Spam emails
Genesis often targets people who are new to the world of forex and CFD trading. They prey on these people by making false promises of easy profits.
Technical Details of Genesis
Minimum Deposit
The minimum deposit requirement for Genesis is not clear. This is confusing to hide the minimum deposit.
Trading Platform
The platform is not open to visitors to see a demo. It is not a good choice to choose a platform without checking the demo..
Spread
They offer a good return on their trading platform. However, the fees for withdrawals and deposits are high.
Leverages
Genesis offers high leverage up to 1:100. This means that traders can control a large position with a small amount of capital. However, high leverage can also magnify losses.
Packages and Products They Offer
On their pricing page, they only show this price which is static. That means they don’t have actually any dynamic data.
Withdrawal and Deposit Method
Genesis offers a variety of withdrawal and deposit methods, including credit cards, debit cards, bank transfers, and cryptocurrency. The fees for withdrawals and deposits vary depending on the method used.
What Do Their Previous Traders Say?
There are a number of negative reviews about Genesis online. These reviews claim that the company is a scam and that it has stolen money from its users.
Summing Up- Why Should Not You Trust Genesis
There are a number of reasons why you should not trust Genesis. These include:
- The company has no regulation or oversight.
- There are a number of negative reviews about the company online.
- The fees for withdrawals and deposits are high.
- The company has been accused of stealing money from its users.
If you are considering using Genesis, I urge you to reconsider. There are a number of reputable forex and CFD brokers that offer the same services without the risk of being scammed.
If Bad Things Happen, Where Can You Get The Quick Solution?
If you have lost money to Genesis, you may be able to get your money back. There are a number of organizations that can help you, such as FINRA. As this company claims to be situated in the USA, they can help you. But, this process will take a long time.
You can also file a complaint with us. Because we respond quickly our free consultation call will help you to get the proper guidance and resources to recover the lost fund.
File A Complaint Against Scam Broker's
Final Thoughts
Genesis is a scam. Do not use it. There are a number of reputable forex and CFD brokers that offer the same services without the risk of being scammed.
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