Genetrade Review

Broker Products

GeneTrade offers access to forex, equity indices, and precious metals for trading. These offerings include 59 forex pairs, including majors, minors, and exotics. In total, more than 100 financial instruments are available.

GeneTrade Trading Conditions

GeneTrade has exceptional execution, with 99.9 per cent of all trades from the broker executed in under one second. There is also a standout 100 per cent execution success rate and no rejected orders. All accounts have a policy of no requotes. Orders are completed instantly with market execution.

GeneTrade clients can take advantage of leverage as high as 1000:1, as well having the ability to change leverage with just a few clicks from within the member’s area.

GeneTrade Account Types

GeneTrade offers two account types, Micro and Standard.

Both offer the same base currencies of USD, GBP, EUR, HUF, JPY, PLN, or ZAR. Leverage on either account type can be between 1:1 and 1:1,000. There are no commissions for either account type, and spreads start at 1 pip. Both are available as Islamic accounts, require minimum deposits of $5, allow hedging, and come with account managers.

The only major difference between the account types is the contract size. Micro accounts have one lot equal to 1,000, while Standard accounts have one lot equal to 100,000.

Due to the smaller lot sizes, Micro accounts are ideal for beginners. Those who feel comfortable trading larger volumes will prefer the Standard account.

A demo account is also available and highly recommended for beginners.

GeneTrade Commissions & Fees

When trading with GeneTrade, you can take advantage of variable spreads from just 1 pip. As an example, EUR/USD can be as low as 0.00014 with an average of 0.000168.

GeneTrade also offers low, transparent swap rates, which are defined using the spot price and interest rate differential for the pair. As an example, swap rates for EUR/USD are -11.67 for long swaps and 5.43 for short swaps.

Other than spreads for trading, there are no additional commissions or fees, other than a dormant fee for accounts without activity for 100 days. This results in a charge of $10 or the balance of the account if it has less than $10.

GeneTrade Platforms and Tools

GeneTrade offers trading via MetaTrader 4, although this is available in five versions, including PC, Mac, Web, Android, and iOS. The Web version has nearly identical features to the downloadable PC and Mac versions.

MetaTrader 4 supports auto trading and Expert Advisors and has VPS functionality. It features advanced charting, preinstalled technical indicators, instant one-click trading, and full customization to match your trading strategy. MetaTrader 4 also supports the MQL4 programming language, so you develop your own trading robots, indicators, and Expert Advisors.

MT4 is known for being highly reliable and using minimal resources on your computer, allowing you to trade even at lower internet bandwidths.

The mobile applications of MT4 include three chart styles, the ability to view trade history, access to news and financial markets, technical indicators, the ability to change time frames, and the ability to buy and sell orders or open and close positions.

MetaTrader 4 is available in dozens of languages.

Genetrade also offers Sirix as a social trading platform. It is easily accessed through the member’s area and allows users to follow successful traders and copy their trades. Sirix provides simplified trading with straightforward app like usability. A great platform to try out as copy trading makes it easy for even beginners to start making educated trades. 

Is GeneTrade Mobile-Friendly?

GeneTrade offers the MetaTrader 4 App as a native app for Android or iOS. These MT4 apps are well-known for being fully featured and allowing trading via smartphone.

The GeneTrade website is mostly mobile-friendly, with all information readily available from smartphones or tablets. The only caveat is that some pages, such as the trading conditions page, revert to a slightly awkward format on mobile. This format requires extensive scrolling, although all information is still available.

GeneTrade Promotions

At the time of writing, GeneTrade offers several promotions.

There is a 50 per cent bonus on all deposits, for a maximum of $5,000. There is no minimum deposit to take advantage of this bonus, and all profits can be withdrawn.

GeneTrade also markets its zero fees for deposits and withdrawals as a promotion. Remember that this includes 100 per cent coverage for e-wallets and credit or debit cards as well as coverage for wire transfers greater than $200.

One excellent bonus from GeneTrade is the free VPS service without hidden costs and 99.99 per cent uptime. This promotion is particularly helpful for those who use Expert Advisors.

GeneTrade Deposits & Withdrawals

GeneTrade supports deposits and withdrawals via a range of e-wallets and credit/debit cards, each with variations in fees and processing times.

Debit and credit cards can be MasterCard, Visa, Visa Electron, Maestro, or Union Pay. All currencies are accepted with a minimum deposit of $5. Deposits are reflected instantly.

Supported e-wallets include Skrill, BitWallet, SticPay and Neteller. 

If you have remaining funds after withdrawing the initial deposit to the original funding method, you can also withdraw via bank wires. Withdrawal requests are typically processed within 24 working hours.

There are no fees for deposits or withdrawals at GeneTrade, except if you withdraw via a bank wire that is less than $200. GeneTrade covers any fees that your card charges.

GeneTrade Customer Support

Regardless of account type, all GeneTrade clients receive the same level of support, including an account manager. Live chat is available 24/5 as is the support desk with its email contact information. There are separate email addresses for the back office, affiliate department, and sales department. 

Impressively, GeneTrade has support in more than 20 languages, making it easy for clients to choose a support language that they are fluent in to avoid translation problems.

GeneTrade also has an FAQ section that includes answers to most questions you are likely to have. It is well-organized and divided into categories.

GeneTrade Research and Education

As GeneTrade offers MT4 as its main platform, there are vast resources on how to trade using MT4 and tips and tricks all over the internet, making research and learning how to trade on this platform a breeze.

Noteworthy Points to Mention for GeneTrade

The free VPS service from GeneTrade is worth mentioning again, as this is available across account types. Most competitors only offer a free VPS for accounts with high balances. 

We have tested Genetrades' execution which we are extremely happy with as we traded during the news. Furthermore, being a regulated broker since 2014, focusing in fast withdrawals, we are highly confident that this Broker can offer something for everyone.

Conclusion for GeneTrade

GeneTrade offers access to more than 100 instruments, including forex, metals, and equity indices. Its low minimum deposit and the availability of a Micro account make it very appealing to beginners. Meanwhile, the exceptional execution, including a 100 per cent execution rate, will appeal to traders of all skill levels, although experienced traders may prefer a broker that offers zero or ECN accounts.

Through our readers and our own experience, we have seen speedy withdrawals, and swift executions as promised. If you are a new trader, the deposit bonus can be a great way to hone your skills, but take care when using this broker’s max leverage. 

GeneTrade is best for any trader who already has a source for educational content and research and simply needs a trusted, regulated broker to trade with.