Read our Geneticrypto review and know the reason why we don’t suggest this broker for trading and why we call it a scam. Read about the scam activities of this broker before you sign up with it.
Address: Saint Vincent and the Grenadines
Warning: Not Recommended By Review Website Like Scam Helpers
Geneticrypto Review: Introduction
Geneticrypto provides trading services in Forex and CFDs and is owned by the company, which is enrolled in Saint Vincent and the Grenadines. However, they claim to be located in the UK and also
claim to offer Bitcoin trading services there.
But the question is: Is Geneticrypto a legit firm? Read a complete Geneticrypto review and figure out how they operate a scam.
Is Geneticrypto legit or a scam?
Geneticrypto is not legit. The main concern here is its regulation. Since Geneticrypto claims to be located in the UK and claims to offer financial services there, it should have a license from the FCA. We searched the name of this broker in FCA-registered firms and found nothing there. Geneticrypto is not even regulated by ASIC, CONSOB, FINMA, BaFin, or some other respectable license provider.
Is your money safe with Geneticrypto?
Geneticrypto professes to be authorized and approved in St. Vincent and the Grenadines, yet that is impractical given the way that the local authority essentially doesn’t focus on the forex business nor issue forex licenses at all.
This shows that this broker is not regulated. Trading and investing with such unregulated scam brokers, introduced as forex and CFD brokers, is like throwing your money in the garbage. And your money is not at all safe with such brokers.
Geneticrypto Review: Minimum Investment and Leverage
They did not mention any information about the minimum deposit. You can be drawn nearer for any sum, from $1 to a huge number of dollars.
1:200 is the leverage for the forex market. As indicated by the FCA, brokers can’t offer more than 1:30, except profoundly experienced retailers. Consequently, this affirms that the organization is offshore and adheres to no administrative guidelines.
Questionable stunts done by offshore brokers
One of the most widely recognized stunts with which fraudsters might attempt to take your funds is the trading reward, which you will be presented after getting paperwork done for a trading account. Generally, such rewards accompany surprises, typically a base trade volume prerequisite, that will keep you from making any withdrawals regardless of how you trade.
This is what scam brokers generally do; being unregulated, they handle their business in this manner. Fundamentally, they have no issue with thinking of anything affectionate about dropping your withdrawal demands.
To keep yourself away from being in such situations, better read the reviews online before picking any broker for trading. You can also get many negative Geneticrypto reviews on web, if you search about this broker.
Geneticrypto Review: Final Conclusion
If you are a victim of Geneticrypto scam, do not lose hope. Contact us immediately and get a free consultation with our team. We will help you get your lost funds back and teach you how to prevent yourself from being scammed by brokers.
To read more about such brokers, check out our list of scam brokers 2022. Also, if you are a victim of a forex scam, cryptocurrency scam, binary scam, or any other scam, file a complaint here to get help in fund recovery.
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