Is Genesis11 Scam or Legit? Things That Traders Should Know About This Broker Before Signing Up

Genesis11 Review

When it comes to selecting a brokerage firm, you can never be too careful. This is because the broker that you choose determines what kind of trading experience you will have. You should not sign up with a firm simply because it was recommended in a top-brokers list. This is because all traders are different in that they have diverse backgrounds, financial situation, reasons for becoming an online trader, etc. So, you cannot consider online brokerage firms as one-size-fits-all.

Selecting a trading firm requires you to take into consideration a lot of factors such as if it is safe and regulated, the list of assets it offers, the trading costs, and many other things. Since the financial markets are an immensely volatile place, you also need a fast performance broker. Taking all these factors into account, the online brokerage firm Genesis11 comes to my mind. I want to recommend this broker to anyone who is having trouble finding a good trading firm. I had a great experience trading with Genesis11, so I will be talking about the observations that I made about its features.

So, let’s take a look at what Genesis11 offers to the traders.

All The Features Of Genesis11 That You Should Know About

·         Account Funding

As an online trader, you have to use online banking options more often than not to make your payments and deposits. It can be frustrating if the payment methods that the broker provides are complicated or take too long to process. You need to deposit money into your account for investments, and you also need to take out your earnings. So, brokers should make sure that they make their banking processes as swift as their other features.

Genesis11 allows you to use three different payment options which include debit/credit cards, bank drafts, and wire transfer. You should know that this trading firm believes is transparency in all its actions and clearly states that for every withdrawal a commission of $6 would be charged. This is a fixed price that does not increase with the amount. However, the broker does not take any responsibility for the charges that the bank may cut for other transfers. Your withdrawn money will be sent to the account that you deposited from in the original currency. All transactions are quickly processed and completed.

·         Leverages & Spreads

When it comes to leverages, you should know that there is no better feature for the traders than leverage. Leverage is the contribution the brokerage firm makes to your investment. This allows you to aim for investing in assets that are above your financial range. Leveraged trading is a great way to reach your financial goals faster. However, trading with leverages is risky, especially is highly volatile markets, so you should make every investment after deep consideration. With the promise of increased returns, it is easy to get greedy and invest in more than what you can reap. So, remember to pace yourself when dealing with leverages.

Genesis11 offers you a maximum leverage of 1:200 which is a great value. If you don’t understand what these numbers mean, then let me tell you. A leverage of 1:200 means that for every $1 that you invest, the broker will contribute $200. This way you will be investing in larger assets at a lesser price. This is why traders get really excited when dealing with leverage because it allows them to aim for the sky at a minimal budget.

Spreads are how a broker earns money. When you purchase an asset from the broker and then sell the same asset back to it, you will notice a difference in the buying and the selling price. This difference is called as spreads. You should look at the spreads that the trading firm offers to determine the costs of trading. Genesis11 offers great spread rates which vary for different assets. You can find a whole chart about the different spread counts on the firm’s website.

·         CFD Trading

CFD trading is very similar to leverage trading in that they both get the traders excited to aim for the big fish. CFD trading also allows traders to invest in assets much larger than what they can financially afford. So, how does this happen? With CFDs, instead of purchasing the asset, you sign a contract for its value. So, when you invest using CFDs, you do not actually own the asset. CFD stands for Contract for Difference and the money that you earn through CFDs is through the difference between the value of the asset at the start and the end of the contract.

CFD trading allows you to invest in multiple assets at a time while maintaining your liquidity. However, similar to leverage, you need to be careful when trading with CFDs during periods of high volatility in the market. Genesis11 allows CFD trading with only a few of the assets that it supports, these include commodities, indices, and shares.

·         List of Tradeable Assets

If you are a new trader, then you should look for trading firms that support more than three to four types of assets. This is because when you are new to the industry, it is better to get a feel of what it is like to trade with different assets. A majority of the leading firms that you will find only support a few assets, which is great for those who specialize in those particular assets. However, it is not suitable for new traders. Some markets are highly volatile while some markets have a low volatility rate, so you need to familiarize yourself with the trade of both these types of assets.

Genesis11 offers you an impressive list of assets to trade with. In addition to the CFDs discussed above, this brokerage firm supports Forex, Indices, Energies, Stocks, ETFs, and cryptocurrencies. Within these categories are sub-categories which you can choose to trade with. For example, if you are interested in trading cryptocurrencies, you will have to decide which cryptocurrency you want to trade with.

As a new trader, this variety of asset is a great feature for you because it allows you to understand how different assets can be used for profitable investments. Furthermore, it will also allow you the opportunity to start building a diverse trade portfolio right from the beginning.

·         Web Trader

Genesis11 offers you a state of the art web trader as its trading platform. This web trader was developed to provide you with all the advanced and intuitive tools with an interface that is easy-to-use and user-friendly. One of the advanced features that you get is Algo trading which is automated trading. A robot keeps an eye on good openings and makes investments on your behalf while abiding by the conditions that you have set. This is a great way to constantly keep your eye in the market even if you are not actually doing it yourself.

Furthermore, what’s great about web traders is that you can access them from any device as long as it has a stable internet connection and a web browser. There are other forms of trading platforms that many traders argue are better than web-traders. However, what they fail to understand that web traders require the least maintenance. With other software, you need to update your device software and if your device is not up-to-date then it will not be compatible with the software of the trading platform. Moreover, such platforms limit their accessibility in that you can only access them from the device that you downloaded them on. These are some of the many benefits that the propriety web trader of Genesis11 brings to the traders.

·         Segregated Accounts

Segregated accounts are where your money is stored out of the reach of the broker. These accounts are protected by the regulatory agencies and keep the firm form accessing your money for its own use. This also allows the regulatory agencies to safely transfer your money to your account in case the broker goes bankrupt.

During a hacking episode, even if the hacker gains access to the broker’s funds, your money will still be safe and protected from unauthorized access. Genesis11 also uses segregated accounts to keep your funds safe.

·         Secure Trading Environment

You need to make sure that the online brokerage firm that you open an account with can provide you with a secure trading environment. Online Trading firms are a major target for hackers as the database carries confidential information about all the clients such as their passport information, bank details, home address, etc. So, it can be very dangerous if this information falls into the hand of criminals. For this reason, you should ensure that the broker provides great security to the traders.

Genesis11 has implemented top-security measures to ensure that no outside sources can hack into their database. The trading firm strives to create their platform a safe trading environment and has taken the necessary steps to ensure it. The broker has installed high-alert security software and firewall protection into their system. In addition, SSL certificates and encryption software have also been implemented. This makes sure that even if someone is able to crack the firewall, your information will be useless to them.  This online brokerage firm has done its best to create a safe trading environment and routinely upgrades the installed systems to check for bugs or errors.

This online trading firm is fully regulated which means that it is monitored and audited by a third-party agency. This ensures that the broker is not doing any illegal acts or is involved in money laundering. Regulations require the firm to comply with various policies. Genesis11 is compliant with the KYC (Know Your Customer) and AML (Anti-Money Laundering) policies. These ensure that no fake accounts are being used to transact illegal funds from the broker. The identity proof that you need to often provide to the firm, especially during registration and withdrawing money, are due to the requirements of the KYC policy.

·         Demo Account

Genesis11 allows you to open a demo account before registering for a paid account. This demo account is free of cost and it allows you to experience what it will be like to trade with this broker in real-time. You can try out all the features and facilities of the trading firm with this account. Moreover, you can also enter real-time markets as see how trades are executed. It allows you to participate in pseudo trades so that you can see whether you understand how it works or not.

Demo accounts are a great feature that you must try out before opening a live account with any brokerage firm. It will allow you to see whether the features that were advertised actually exist or were they just a marketing scam. While there is no hard-and-fast rule about only legit firms providing demo accounts, you should not miss out on the opportunity if this feature is provided. It will also give you an insight into what you will have to do as a trader.

Conclusion

It’s safe to say that Genesis11 is one of the versatile brokers out there that is suitable for almost all traders. So, whether you are a new trader looking for direction or an experienced trader looking for something new, then you should definitely consider opening an account with Genesis11. I am sure that you will not be disappointed by the features and services that this broker offers.

You can run a test-run with the demo account feature which allows you access to the financial markets as well as all features of the trading platform. Even if you are not convinced to sign up with this trading firm, you should definitely add it to your list of potential brokers because you will miss out on a great trading experience if you ignore it.