Overview of GeneveMarket
GeneveMarket, a brokerage established in 2009 and operates as an unregulated entity. It offers a range of account types from the USD/EUR 250 minimum deposit up to USD/EUR 50,000, with leverage up to 1:30 and competitive spreads starting at 0.1 pips. The platform, GeneveMarket Webtrader, supports trading in Forex, commodities, shares, cryptocurrencies, and indices. Customer support is accessible via email, phone, and social media channels. Deposits and withdrawals can be made through multiple options, providing flexibility for traders.
Regulatory Status
GeneveMarket is currently operating without the necessary regulatory oversight. Investors are strongly advised to proceed with extreme caution when dealing with unregulated brokers. Such entities lack the safeguards and legal protections afforded by regulated firms. To minimize potential risks and maintain a secure trading environment, traders should prioritize brokers licensed and regulated by reputable authorities.
Pros and Cons
GeneveMarket offers its clients more than 300 instruments for trading. Not only currency pairs, but there are also shares, cryptos, and spot instruments such as Gold, Silver as well as CFDs on the biggest indexes S&P 500, Dow Jones Industrial Average, NASDAQ Composite, FTSE 100, DAX 30, US Dollar Index, Bitcoin, and other instruments. They are offering several bonuses. The bonus size varies from 33 to 100 percent.
In addition, the company has 300 trading assets, multiple languages, more than 30 financial analysts, hundreds of regional offices, 9 trading servers to provide you with excellent service. They offer 4 different accounts with no commission, 2 currencies and more than 10 deposit and withdrawal methods :Visa, mastercard, bank transfer, electronic payment system, cryptocurrency wallet. The trading platform is available for PCS and smartphones. However, an important issue is that GeneveMarket operates in an unregulated environment and requires a fee of up to $250 for withdrawals.
Market Instruments
GeneveMarket offers its clients more than 300 instruments for trading. Not only currency pairs, but there are also shares, cryptos, and spot instruments such as Gold, Silver as well as CFDs on the biggest indexes S&P 500, Dow Jones Industrial Average, NASDAQ Composite, FTSE 100, DAX 30, US Dollar Index, Bitcoin, and other instruments.
Account Types
In order to help traders to help themselves according to their time, experience, budget and goals, and create a successful trading strategy, four account types were developed by the GeneveMarket Dealer Department specialists, including: Field Account, Hill Account, Mountain Account, Sky Is The Limit Account.
Leverage
GeneveMarket offers a maximum trading leverage of up to 1:30 for its clients. A leverage ratio of 1:30 means that for every $1 in the trader's account, they can open positions worth up to $30 in the market. By providing leverage, GeneveMarket aims to empower traders while emphasizing the importance of understanding and managing the associated risks effectively.
Spreads & Commissions
The spreads for the Field Account vary, starting from 1.3 pips.
In the Hill Account, traders can benefit from spreads starting from 1.5 pips.
With the Mountain Account, traders enjoy tighter spreads starting from 0.1 pips.
The Sky Is The Limit Account also features spreads starting from 0.1 pips, catering to professional traders and institutional clients who require the narrowest spreads available for high-volume trading.
Although none of its four accounts charge commission, two of its accounts, the Field Account and the Hill Account, have spreads as high as 1.3 pips and 1.5 pips, which are among the higher spreads and incur fees.
Trading Platform
GeneveMarket Webtrader is a trader-centric platform that helps you understand the nature of financial markets and make more informed decisions. You can connect to the world's largest data, news and events.
WebTrader is accessible on the web, desktop, Android and IOS, and you'll get fast, tight prices when trading forex and products based on futures contracts such as gold, silver, oil, commodities and indices.
GeneveMarket Webtrader features detailed market categories, real-time market updates, and support for multiple chart view options. It can push real-time economic events for you, and the platform also supports opening, editing, keeping pending orders and position operation records for you to access or export at any time. In addition, the platform provides a wide range of technical indicators based on the core concepts of mathematics and statistics.
Deposit & Withdrawal
GeneveMarket offers a variety of deposit methods, including credit/debit card, e-wallets, banking solutions and SEPA/ International bank wire, with no fees.
GeneveMarket facilitates withdrawals through several methods, ensuring flexibility and convenience for clients accessing their funds.
However, traders should be aware that there is a fee when you withdraw money using the following methods: Credit/debit card is required to pay 1€; SEPA/ International bank wire needs to pay 0.5% min 2 EUR, max 10 EUR; eWallet (Neteller) needs to pay 1%.
In addition, SEPA/International bank wire is a payment method, whether it is a deposit or withdrawal, the processing time is very long, requiring a wait of 3-5 days.
Customer Support
It provides different contact methods for different departments, mainly including email, phone, social media.
You can contact Technical Support, the 24-hour contact information and Customer Relations Department , operating hours: 08:00-17:00 (UTC+00) :
E-mail: support@genevemarket.com, clients@GeneveMarket.com
Address: 17 Bd Royal, 2449 Ville-Haute Luxembourg, Luxemburgo
You can also contact Client Relations Department, Customer Relations Department , operating hours: 08:00-17:00 (UTC+00) and Dealer Department, operating hours: 08:00-17:00 (UTC+00):
E-mail: support@genevemarket.com
Phones: 000 000 000
In addition, you can follow them on social media: Skype, Whatsapp, Viber and Twitter.
Conclusion
In conclusion, GeneveMarket offers a compelling platform for traders with its flexible account options, competitive trading conditions like low spreads and high leverage, and a user-friendly GeneveMarket Webtrader. Its diverse asset offerings and accessible customer support channels contribute to its appeal among a broad spectrum of traders looking to engage in Forex, commodities, shares, cryptocurrencies, and indices trading.
However, the lack of regulation has raised concerns about investor protection and risk management, with withdrawal charges and deposits of up to $250 influencing traders' choices and causing them to be deterred.
FAQS
What types of trading accounts does GeveneMarket offer？
GeveneMarket provides four types of trading accounts: Sky Is The Limit Account, Mountain Account, Hill Account and Field Account.
What is the maximum leverage offered by GeveneMarket？
GeveneMarket offers a maximum leverage of up to 1:30.
What are the different spreads offered across the accounts？
The Field Account starts with spreads from 1.3 pips, the Hill Account from 1.5 pips, the Mountain Account from 0.1 pips, and the Sky Is The Limit Account also from 0.1 pips.
What deposit methods does GeneveMarket offer？
GeneveMarket provides a range of deposit options including credit/debit cards, e-wallets, various banking solutions, and SEPA/International bank wire transfers, all with no fees.
On what devices can I access GeneveMarket WebTrader？
You can access GeneveMarket WebTrader on web browsers, desktop computers, Android devices, and iOS devices, ensuring flexibility and convenience across multiple platforms.
