General information and regulations of GENEX FX
GENEX FX was founded in 2021 in United Kingdom as an online forex broker, now not under any valid regulations.
In the following article, we will analyze the characteristics of this broker from various aspects, providing you with simple and organized information. If you are interested, please read on.
At the end of the article, we will also briefly summarize the main advantages and disadvantages so that you can understand the broker's characteristics at a glance.
Market instruments
Currency pairs, indices, metals, energy .....GENEX FX allows clients to access these instruments. We noted that cryptocurrencies, stocks and futures are not available.
Spreads and commissions for trading with GENEX FX
GENEX FX does not detail on its website additional trading costs such as spreads, commissions, SWAPs, etc. These costs are very important when calculating profits and losses, and should be considered in aggregate and not chosen in isolation. If you want to trade with GENEX FX, we recommend that you take the time to calculate these transaction costs.
Account Types for GENEX FX
Demo Account: GENEX FX provides a demo account that allows you to try out the financial markets without the risk of losing money.
Live Account: GENEX FX does not provide much accurate real account information. The minimum deposit is 1 USD.
Trading platforms offered by GENEX FX
Although a long time has passed since the launch of MT4, it is still a major player in the market and is loved by traders all over the world. Accessing it from different devices also makes it easier for users to trade.
Leverage offered by GENEX FX
You can't find information about trading leverage on GENEX FX's website. Some forex brokers offer leverage of up to 1:500, but newbies are advised to be cautious about such high leverage.
Deposit and withdrawal methods and fees
GENEX FX is ambiguous about how deposits and withdrawals work. Wire transfers, MasterCard, VISA, Maestro and some e-wallet processors such as Skrill, Neteller, PayPal and others are some of the most frequent and popular payment methods handled by most Forex brokers. The speed of withdrawing funds from a forex broker is also one of the most important factors in building a broker's reputation.
Educational resources
A series of educational resources is available at GENEX FX, such as trading signals, trading robots, daily webinars, free education, etcetera.
Customer support of GENEX FX
Below are the details about the customer service.
Language(s): English
Service Hours: 24/7
Email: support@genexfx.net
Address: 12 Shornells Way, London, England, SE2 0LA, United Kingdom
Users exposures on WikiFX
We have not received any reports of fraudulent activity at this time.
Advantages and disadvantages of GENEX FX
Advantages:
MT4
Educational resources
Demo account
Disadvantages:
No effective regulation
Few information available
No MT5
No copy trading
Frequent asked questions about GENEX FX
Is this broker well regulated？
No, it is currently not effectively regulated and you are advised to be aware of its potential risks.
Does this broker offer MT4/MT5？
GENEX FX only offers MT4, not MT5.
2023-03-28 17:32
