Genesis11 Website – https://genesis11.com/
Genesis11 Address – Orbi Tower Erdgeschoss, 1030 Wien, Austria, Europalaza 4 / 27 Old Gloucester Street, Bloomsberry, London, U.K.
Warnings Against Genesis11 – Not Recommended By Review Website Like Lucenteq
We investigate Genesis11 and its website. We do not recommend any trader/public to do any commerce with them. The reason, we hereby publish the Genesis11 review.
Introduction to Genesis11
The online trading broker, Genesis11 is owned by Genesis11 Limited &Scothop Limited. It is located at two different locations namely Orbi Tower Erdgeschoss, 1030 Wien, Austria, Europalaza 4 and 27 Old Gloucester Street, Bloomsberry, London, U.K. They can be contacted by phone at +44-2081577338, +85-230022614, and +15-873330591. Their email address is firstname.lastname@example.org.
There is a lot of speculation and excogitation regarding online trading nowadays. It is because along with legitimate brokers, a lot of scam brokers have also entered the market. Hence most investors and traders are sceptical to start trading with a new broker. But if you are careful, alert, and use little common sense, you can avoid these scammers.
From the information on the website, this broker is supposed to operate from Austria. When we searched Austrian FMA (Financial Market Authority), the name Genises11 did not appear there. In other words, the broker is not licensed, not registered, and hence not legit. It is not worth mentioning that entrusting your hard-earned money with this broker will be a huge mistake. At present the website is not working.
Austria is a member of the European Union. The broker must abide by ESMA guidelines. He should have a capital of not less than 730,000 EURO which should be kept in a segregated account, provide negative balance protection, keep low leverage, allow external audit, report transaction balance on regular basis for transparency, etc. All these features keep scammers away. Genesis11 scam broker is not regulated and hence does not follow any of the ESMA guidelines.
Genises11: Trading software
Genesis11 uses WebTrader software which is a rather simplistic and cheap platform that does not enhance traders/investors’ trading experience. Even the charts are developed by a third party and TradingView is not anywhere.
The leverage offered is 1:100. Regulated EU brokers cannot exceed leverage of 1:30 for forex currency. When leverage is very high the scope of financial loss in case of an unsuccessful transaction is 70% of the trades. For currency pairs EUR and USD the spread is 0.7 pips. Below industry average and tight spreads means the cost of transaction is low and traders/investors will achieve substantial profit.
We advise you to join that broker that offers MetaTrader4 or MetaTrader5 software which surpasses WebTrader software in features and utility. Both MetaTrader versions are equipped with VPS, auto trading option, financial calendar, trading signals, customs script which is code-based, etc. which are advantageous while executing the transaction.
Genesis11: Withdrawal/deposit methods
There is no information on account types on their website. But when you press the deposit button we came to know that the minimum deposit is $250. For active accounts, there is no brokerage fee or commissions, but dormant accounts are charged. The dormant period is not specified in terms and conditions. The minimum withdrawal amount througha credit card is $100 and through wire transfer is $500. Deposit and withdrawal is fee-less.
Genises11 offers promotional programs as any other non-regulated, and scam broker. They are in form of capital leverages.
Genisis11 scam: How the scam works?
The scammers make everything sound too trustworthy and credible. They weave a scam around your dream of getting easy money and quick profit. They play with your emotions. Most people fall into this trap and deposit money in the scammer’s scheme. You get flooded by daily calls. The scammers first congratulate you for joining them. Later on, they persuade you to invest more money whenever you make big profits/gains, the honeymoon time soon collapses as soon as you request for withdrawal of your profit or capital. At this time the scammers show you their true colors. They try to delay you so that you cannot file for a chargeback and miss the deadline for the chargeback.
Let Lucenteq help you
If you are in any situation as stated above you can call Lucenteq at +1 601 952 8830 or drop an email at support@Lucenteq.net or visit us at 192 N Cities Service Hwy APT 6, Sulphur, LA 70663
Our skilled team of professionals has experience dealing with these types of scams and fighting unregulated brokers.