Consider trading with Geneon Invest forex broker? Is geneoninvest.co genuine? Let’s see Geneon Invest review to know about this forex platform.
This content promises to share helpful review to support clients/traders in making the right decision.
Geneon Invest
Geneon Invest also known as Geneoninvest.co is an offshore brokerage company operated by Dawg Solutions LLC with a lot of promises for forex traders. The broker’s address First floor, First St Vincent Bank Ltd Building, James Street Kingstown, St. Vincent and the Grenadines.
What is more, there are different account types offered namely, Mini, Standard, Classic and VIP.
Further, the broker offers different instruments like forex, stocks, commodities, crypto, bonds and indices. Also, it presents a zero spread difference in Buy/Sell.
See section below
Deposit and Withdrawal
Geneon Invest Minimum Deposit:
Geneon Invest minimum deposit is indicated $250 based on the account type. The good thing about a licensed FX broker is that minimum deposit is made known to traders, and clients can start trading as low as $100 .
As for the payment methods, the broker presented different payment options — VISA, Mastercard, and Wire Transfer. .
Another important thing, offshore brokers are commonly known for accepting crypto currencies. For this purpose, payments made through this method are anonymous and can only be traced to a wallet address and not to a specific person. So beware!
Withdrawal process:
Geneon Invest leaves us with withdrawal process of 4 to 7 business days and an unspecified handling fee.
Geneon Invest Platform:
Geneon Invest platform offers web based trading platform and not MT4 or MT5 (Industry standard trading platforms) which gives us more reason not to take this broker serious. Many scammers have trading software to fool their victims that their money is being invested.
The good things about MT4 and MT5 (Industry standard trading platforms), it features real-time quotes, financial news and various FX and stock charts, as well as run algorithmic trading sessions with the help of specially designed trading bots, called Expert Advisors.
Geneon Invest leverage can get up to 1:100. Truly, we say don’t consider doing that with an unregulated forex broker like this one because you stand the chance of losing your money.
Won’t you rather trade with a licensed and legit broker? Fortrade is a UK-based broker with address at Michelin House, 81 Fulham Road London, SW3 6RD, United Kingdom. They are among the best brokers in the industry offering trades in numerous assets including stocks, commodities, currencies, indices, and cryptocurrencies. Fortrade is regulated and licensed by the FCA(Financial Conduct Authority) in the UK, ASIC in Australia, NBRB in Belarus, CySEC in Cyprus as well as IIROC in Canada which makes client funds safe. They accept traders worldwide…visit their official website
Why Geneoninvest.co Is A Suspicious Broker
First of, Geneoninvest.co has no financial authority overseeing its financial services. We believe this broker is not worth your money because Financial Services Authority SVG does not monitor or regulate brokers. Take a close look at their warning.
Regrettably, the broker is a clear scam whose presentation of SVG governance and regulation cannot be proved. We know SVG financial authority is not known for regulating forex brokers. This is a big warning for traders to avoid losing money with this broker. See excerpt from SVG
In addition, Geneon Invest does not offer money back guarantee which means trading on such platform is clearly a risk as your money cannot be refunded.
These are drawbacks for forex traders to avoid losing money with this scam broker. It is always advisable you check for regulated and licensed broker on financial authorities websites before depositing fund for trading.
Geneon Invest Licensing and Regulation
It is not far from believing that this broker is not a licensed brokerage firm. It is not under any financial regulation which means wiring your money for trading is risky. Its unlicensed and unregulated activities are truly a red flag and must be avoided.
COMPARE WITH A TRUSTED BROKER
Fortrade
Fortrade is a UK-based broker with address at Michelin House, 81 Fulham Road London, SW3 6RD, United Kingdom. They are among the best brokers in the industry offering trades in numerous assets including stocks, commodities, currencies, indices, and cryptocurrencies. Fortrade is regulated and licensed by the FCA(Financial Conduct Authority) in the UK well as ASIC in Australia which makes client funds safe. They accept traders worldwide..visit their official website
Verdict:
Geneon Invest located at Geneoninvest.co is one of those regulated brokers with a verified license. Nonetheless, we would advise traders to steer clear from any unregulated and unlicensed broker as they are likely platforms run by scammers. As a matter of fact, we urge our readers to rely on regulated brokers like this or any licensed entity.
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