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Genesis11 Review – (Recommended Broker) Is Genesis11 Scam or Legit?

Genesis11 Broker Rating
  • Overall Rating
4.8

Summary

When you add competitive trading conditions, learning and educational resources and a prompt and robust customer support team to the mix, it is easy to see that Genesis11 can be a trustworthy broker for trading in the financial markets.

Genesis11 Review

https://genesis11.com/

With the global economy suffering because of the coronavirus pandemic that has taken over the world, countless people are in search of ways that can help them earn solid and substantial returns. Many have lost their jobs or are just not making enough to make ends meet. Existing investment vehicles are also not able to offer good enough returns, so people have gotten quite desperate to find ways to earn. The good news is that there are some avenues that can be explored and you don’t have to do something illegal in order to make some big bucks in such a situation.

You can do some research into potential opportunities and that’s where you will find trading in the financial markets. You are probably aware that people have been trading in the stock market, commodities market and the forex currency market for decades now, so it is not a new thing. But, it is also quite true that the financial markets are brimming with opportunities that you will not find elsewhere. There was a time when it wasn’t that simple for trader to consider a career in trading or even do it part-time or as a hobby. But, things are a lot different now than they were before.

Technology has helped in eliminating barrier in this industry as well, like many others, which means that entering into the trading space has become easier and awareness has also been created about their profitability. In the last decade alone, online trading has become a global phenomenon because it has helped many people around the world in making a fortune and do it without having to invest huge sums of capital or having a ton of knowledge and experience. Sure, eventually you will need knowledge and skills, but there is no prerequisite that you have to fulfill.

Also, online trading can offer a great deal of flexibility because people can trade when they want and as much as they want. Nevertheless, online trading may not have the traditional prerequisites to making an entry, but there is one requirement that you do have to fulfill; finding an online broker. They have been part of the trading equation from the get-go, even before online trading existed and they still play a very important role. They are the ones that open the market doors for you, provide you the assets, resources and platform that are needed for your journey, so you need them in order to begin.

But, why do people seem daunted by the prospect of finding a broker? If you search for some options, you will discover that the number of companies providing their trading services in the market has increased tenfold in the last decade alone. The massive number of options is enough to overwhelm and intimidate anyone, especially people who don’t know what they are doing. How do you choose one platform from all of the options? What makes them different? Most companies will make similar claims of offering you impeccable services and features, which only adds to your confusion.

Genesis11 website

However, it is important to remember that like every other industry, the trading space also has its fair share of shady companies that you need to be wary of. The claims made by a company should be taken with a grain of salt and you should do your homework before you make your choice. This should also be done when you find Genesis11 in your search for a reliable broker. This company has been around for a few years in the trading space and are an STP (Straight Through Processing) broker, which means there is no conflict of interest.

You don’t have to be concerned about your own broker taking up positions against you, as Genesis11 makes its commissions based on your trading volume. Moreover, it also offers numerous CFDs (Contract for Difference) for trading and is offering its services to traders from different parts of the world. But, this is not enough information for you to be able to make your decision. In order to find out more about Genesis11, there are some essential questions that you should ask because the answers can factor into your decision. What are these questions? They are highlighted below:

Broker Genesis11
Website https://genesis11.com/
Trading Accounts 3 Account Types; Mini, Classic and Premium
Minimum Deposit $500
Assets Coverage Forex, Commodities, Shares, Indices, Cryptocurrencies, Bonds, Futures and ETFs
Trading Tools Live Charts, Economic Calendar, Risk Management Tools, Price Alerts, Algo Trading and Trading Signals
Education and Training Yes; free market research, Trading Academy, Webinars, Tutorials, E-books, Sessions with Market Analyst
Customer Support 24/6 through live chat, online contact form, email and phone number
Security Policy KYC (Know Your Customer) and AML (Anti-Money Laundering)
Parent Company Genesis11 LTD

Genesis11 trading platform

What kind of security will you find?

Of all the things you could look into when you are thinking about choosing a broker, why should you start with security? Cybercrimes are on the rise and there have been an increasing number of cybersecurity incidents in the last few years. What happens in these crimes? People lose their personal information and have it used for some nefarious activity or their hard-earned money is stolen. These are problems you would want to avoid, but when you decide to trade online and use a broker’s services, you have to provide your sensitive and personal information and also use your funds for trading.

This means that you will constantly be stressed about whether your information could be compromised or your money could be stolen and this will have a negative impact on your trading experience. You might miss out on opportunities because you are unable to maintain your concentration. If you don’t want that to happen, you need a platform that pays attention to security and minimizes the risks as much as possible. Genesis11 has come up with a Privacy Policy that’s designed to protect all personal information of their clients.

They have outlined in their policy how and why your information is used and needed. You can rest assured that it is not given to any third parties or licensed or sold to anyone. The sensitive information that you do have to share with Genesis11 is protected through high-end SSL (Secure Socket Layer) encryption, which means that it remains safe and cannot be misused. Furthermore, you will find that KYC (Know-Your-Customer) and AML (Anti-Money Laundering) policies have also been implemented on this platform for adding another layer of security.

These are international security policies that have been developed for reducing the risk of money laundering, identity theft, terrorist activity and financial fraud. How do they do so? They ask traders to provide some important documents.

  • Proof of ID

First, traders are asked to scan some proof of ID, which can be a valid passport, a national identity card, or a driver’s license. Make sure they are not expired.

  • Proof of Address

Secondly, traders also need to confirm their residence by submitting a utility bill, like gas, electricity or water, which shows their home address. A credit card bill or bank statement will also suffice here. Make sure the documents are not more than three months old.

  • Proof of Payment

This is only required if you plan on using your debit or credit cards for making payments on the platform. A front and back photo of the chosen card has to be scanned and submitted. Show the first four digits on the front and hide the CVV on the back for security reasons.

These documents are verified by Genesis11, which ensures that only authentic profiles are created on their platform and no malicious actor can gain access. Apart from these measures, they have also followed customer account segregation rules for fund protection and store them with leading financial institutions in order to give peace of mind to their clients.

What trading products can be found?

After you have ascertained the security of the broker you are considering, you now need to shift your attention to their trading products. You will find companies that claim to offer thousands of instruments for trading, but when you sign up with them, you discover that only a handful of them are available. Such false promises are a common occurrence and you don’t want to be disappointed in your choice. Plus, when you want to make high profits, you need to ensure that the platform you select can offer you the products that are most capable of delivering such returns.

As far as Genesis is concerned, they have a wide range of trading products to offer to their clientele. These assets are spread across different categories, so you will not run short of options and they have added some of the top choices in these markets to offer substantial returns. Some of these include:

  • Commodities

Are you in search of trading products that can give you consistent profits without very high risks? The commodities market are a great choice in this regard because they are not very volatile and comprise of instruments that are known for their stability. There are hard commodities that can be traded, which refers to precious metals like gold and silver. But, these are not the only choices, as you can also trade oil and natural gas on the platform.

  • Stocks

When you think of the trading markets, it is a given that you would immediately think of the stock market, as the names are often considered synonymous. Many people have made their fortunes in this market by trading shares of some of the world’s biggest companies and you can do the same. You can trade stocks of VISA, Amazon.com, Apple, PayPal, Coca Cola, Boeing, Netflix, Aurora, AT&T, HSBC, Facebook and Microsoft, amongst others.

  • Indices

The indices market also involves companies, only it doesn’t include trading shares of individual companies. Instead, you trade combinations of firms as a whole, depending on their location, industry or other factors. It is a very lucrative opportunity and you can trade multiple indexes, such as S&P500, CAC 40, DAX, Dow Jones, FTSE 100 and Nasdaq.

  • Forex

Known as the biggest market in the world, the foreign exchange market has a daily trading volume that’s in excess of $1 trillion, which is no easy feat. There is an endless number of currency pairs that can be traded and their profitability tends to vary. Some are more volatile than others, which gives traders the freedom of choosing pairs according to their risk tolerance. USD/JPY, GBP/USD, EUR/USD, GBP/CAD, EUR/TRY, USD/CHF, AUD/CHF, NZD/CAD and USD/RUB are some of the pairs you can trade.

  • Cryptocurrencies

These digital currencies are now being considered the future of digital finance and some people have gone as far as comparing Bitcoin, the leading currency, with gold. As they are in high demand and their volatility is capable of offering high profits, they are available for trading on Genesis11. You can trade Bitcoin, Litecoin, Bitcoin Cash, Ethereum, Ripple, Monero, DASH and plenty of others.

In addition to these trading products, Genesis11 also gives its clients the opportunity to trade ETFs (exchange-traded funds), bonds and futures.

Genesis11 algo trading

Which trading platform can you use?

When you are trying to make up your mind about the reliability and efficiency of a broker, you cannot do so without knowing what trading platform they will let you use. After all, it is this software that you will use for the most part when you are using their trading services. The platform connects you to the financial markets of your choice, gives you the trading tools and other resources that can help throughout the process. The kind of platform offered by a broker indicates if they are truly committed to catering to their clients. If the platform is not up to the mark, you will not be able to enjoy your trading experience.

This is something that Genesis11 has taken very seriously because they want their clients to trade easily and smoothly, regardless of whether they are new to the trading world or have been doing it for some time. Therefore, they have opted to offer their clients a choice when it comes to trading platforms. What are the options? Find out below:

  • MT4

The MT4, or MetaTrader4, is one of the most renowned platforms in the trading world. It has achieved global recognition because it offers the perfect combination of resources and tools that can make trading an easy and smooth experience for everyone. Based on state-of-the-art trading technology, the MT4 delivers instant trade execution that enable traders to take advantage of the smallest of movements. They can benefit from one-click trading and the user-friendly interface ensures that they can navigate the platform without any hurdles.

Moreover, you also have the option of customizing the platform and integrating the tools you want to use. Some of the options you will find include advanced charting capability, technical and fundamental analysis tools, slippage protection, different order types, and latest news and market trends, along with price alerts. As far as downloading the platform is concerned, it doesn’t take more than a few minutes and is a very simple process.

  • WebTrader

Another version of the trading platform that you will find at Genesis11 is called WebTrader, one that’s exactly what it sounds like. It allows you to trade via the web, which means that you don’t have to download it anywhere. To access it, you just need to visit their website and will be able to use it right away. This allows the platform to deliver cross-device functionality, as it can be used on any device that supports a web browser. The best part is that even this web platform can deliver a smooth trading experience because it also comes with the same tools and benefits that the desktop platform has to offer.

  • Mobile Apps

As mobile use has surged in the last decade, online brokers have also adapted to offer their users the option of trading via their smartphones and tablets. Genesis11 has also done the same and you will find the option of being able to download mobile apps on both Android and iOS devices. It takes only a couple of minutes and you will have full access to your trading account no matter where you are. It empowers traders to trade on the go and not miss out on any opportunity. The apps are also intuitive and give you access to the latest market news and tools that can be quite helpful.

Genesis11 accounts

Are there any account options available?

In order to use any broker’s trading services, you will first have to register with them and open a trading account. This account will keep track of your personal information, your funds, trading history and transactions and provide you reports on your performance as well. The registration and account opening procedure for every platform is different and it is important to know what it entails or else you will find yourself drowning in paperwork and waiting for account approval.

Fortunately, Genesis11 has kept their sign up and registration process quite easy and straightforward. There are no endless forms to be filled out or any other hefty requirements that can waste your time. You only need to fill a single form on their website that asks for your name, email address and password. Next, you decide what currency you want to use and then go over the account options that have been added. At Genesis11, you will find a total of six account options that can be quite useful. These are:

  • Mini

With a deposit of just $500, the Mini account can be opened on the Genesis11 platform and it is one that has been primarily focused on beginner traders. Therefore, you will discover that this account only offers the most basic features to the traders. They receive online chat support if they have a problem, their spreads and commissions are quite competitive and they can also find free e-books. Also, they will also stay updated with the latest trends and news in the market that can help in decision making.

  • Classic

Traders who are no longer beginners and have an understanding of the trading market can opt for the Classic option. This one opens with a deposit of $5,000 and provides the features of the Mini account, but doesn’t stop there. Traders are also given some bonuses in this account in the form of online phone support, a trading education program for learning more in order to move to the next stage and trading signals in real-time that can be immensely useful in opening and closing positions.

  • Premium

Last, but not the least, the Premium account has been created for accommodating expert and veteran traders and they can open this account with just $20,000. They have high trading volumes, so features of the other two accounts are included in their offerings. Along with those, the traders also get to consult with a trade mentor who can help them in making further progress. They are also given an account team that can assist them in managing their rather diverse and extensive portfolio and is available 24/7.

How can deposits and withdrawals be made?

You have to add funds in order to begin trading and in the future, you will also want to withdraw your profits. Thus, it is best to know what payment methods are supported by Genesis11. They allow their clients to use debit and credit cards, including Visa and MasterCard. Traders can also go with bank transfers, if they find that more convenient. In addition, they have added electronic payment options to their platform, considering how popular they have become nowadays. You can use any of these methods for deposits and withdrawals, but transaction processing time can vary for each.

Final Verdict

When you add competitive trading conditions, learning and educational resources and a prompt and robust customer support team to the mix, it is easy to see that Genesis11 can be a trustworthy broker for trading in the financial markets.

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