Genesis11 Review: Genesis11.com an Outrageous Scam

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Genesis11 Review
  • Fund Safety
  • Regulation Status
  • Contact Details
0.5

Summary

Genesis11 company is an illegal scheme that is not licensed to operate. The platform does not care about investors’ needs. Investing with them will expose you to huge risks. Stay away from them and trade with genuine firms.

Genesis11 is a company that claims it uses the appropriate technology to meet the goals of its clients. The broker is operating as it, please. Nonetheless, it states that it is dealing with Forex, stocks, ETFs, Indices, energies, and cryptos.

Currently, there are multiple investment platforms that brag of being the best. However, it is only a few of them that are dedicated to offering high-quality services. Each day there emerge scammers aiming to defraud more innocent investors.

Genesis11 is one of those nasty Ponzi schemes. The venture is allegedly offering financial advice to traders. The platform claims that it takes time to listen to the objectives of its clients. Afterward, the broker exits the market leaving their customers high and dry.

Genesis11 Review, Genesis11 Company

Moreover, this entity welcomes both novice and expert investors to trade with them. However, you won’t find veteran investors wasting their time in such a losing scheme. There is a lot of essential information that is missing from their website.

The platform relies on its research team and financial managers to deliver the best on behalf of investors. Unfortunately, we cannot rely on the word of a suspicious firm. Moreover, their ghost team is not introduced to the public.

Genesis11.com Review

Genesis11 states that it is a transparent and genuine company. The broker allegedly handles all the hard tasks on behalf of traders. The trading tools which they use are of high quality. The company claims it offers professional services.

Additionally, the entity states that in case you experience any problem you can contact them via email, phone, or live chat. The problem is that this venture is using fluff content. It also brags that investors can use algo trading.

Genesis11 lacks a trading history in the market. These scammers are even quoting the Bible to show their level of seriousness. However, never trust your money with an offshore firm. The venture is not worth your money.

The company purports that it has been in the market for years. However, this is not the case. Their domain name registration suggests otherwise. Additionally, they do not have client feedback which shows you expose yourself to more risks.

There are better alternatives in the market that you can utilize instead of wasting time on this platform. Register today with a forex trading company that has a license from reputable financial bodies in the market. Your safety is guaranteed.

Regulation and Registration

The company is an illegal scheme that is not licensed to operate. The platform does not care about investors’ needs. Investing with them will expose you to huge risks. The Financial Market Authority (FMA) does not have Genesis11 in their legit investment firms database.

Therefore, this platform is not permitted to operate in Austria. Additionally, considering that Austria is a member of the European Union this broker should also adhere to ESMA rules. Unfortunately, the company has not deposited the initial capital that is required to act as compensation to investors in case of insolvency.

Genesis11 is a nasty scheme that is capable of changing its terms and conditions without giving notice. The suspicious firm can also choose to exit the market when you least expect them. It is important that you check whether a company is licensed before depositing your hard-earned funds.

Trading Conditions of Genesis11

Genesis11 offers a web-based trading interface to traders. The features of this platform are not unique or attractive. It does not boost investors’ trading experience. The spread that you will attain is that of 0.7 pips.

It is a tight offer that is beneficial to the investors. Moreover, investors will be able to get more profits. Unfortunately, do not forget that you will be dealing with a scam. Their spread is 1:100 which is beyond what the EU financial body permits.

Investors might see the trading conditions of Genesis11 as suitable ones. It is important to keep in mind that scammers usually manipulate information to attract more victims. In a real sense, you will be making losses.

Withdrawal and Deposits

Genesis11 is a venture that does not provide adequate information regarding its withdrawal and deposit. The least amount of funds that you can deposit at this entity is $250. The data pertaining to the type of investment accounts available is left out.

The alleged payment methods which investors can use include bank wire, Visa, and MasterCard. The minimum amount that traders can cash out is very high. For a credit card, you can only withdraw $100 while for the bank wire it is $500.

Genesis11 claims that it does not charge commissions or fees to traders. The broker is also charging a fee on dormant accounts. However, they do not disclose the duration that an account is considered dormant or the specific fee.

Just like all other Ponzi schemes in the market, this one is not left behind when it comes to bonuses. However, for you to withdraw the promotion rewards you must meet a trading volume of 25 times the amount you wish to cash out.

As you can see this is a lot of money that you will have to spend. Additionally, there is no guarantee that you will get your money back. Stick to regulated brokers because your withdrawal request will be processed in time.

Contact Details of Genesis11

The office address of Genesis11 is allegedly at Orbi Tower Erdgeschoss, 1030 Wien, Austria europalaza 4. According to the broker its offices are open from Monday to Friday 9.30 to 21.00 GMT.

Unfortunately, based on the character that this firm has displayed this is a randomly generated address. This means that the actual location of this entity remains anonymous. Therefore, it will not be easy tracing them down.

Investors can reach the company via email or phone. We cannot guarantee that you will receive a response from them immediately. The platform might never even reach back. This is especially when they realize you do not have more funds to defraud.

Customer support of a Ponzi scheme is very unethical. They may go to an extent of calling you names. It is among many reasons that we recommend traders to only invest with regulated ventures as they have the best-qualified support.

Final Verdict

Investors that are used to the MT4 trading platform will not find Genesis11 appealing. Moreover, the trading conditions of this broker are too good to be true. The reality is that you are going to lose rather than profit.

The company does not have a trading history. Moreover, it targets investors from the EU yet it does not meet the requirement of the financial body in this area. Additionally, the platform location remains a mystery.

Trade with the best forex trading companies in the market to avoid uncertainty. You will have all the tools that you need. Additionally, you have the assurance that the customer s

 

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