Genesis11 Review – Is it a Legitimate Broker? 0 83

Genesis11 Review – Is it a Legitimate Broker?

Genesis11 Review

The world of online trading is not without its risks, but the lucrative opportunities often make it difficult to resist. In addition, the current economic conditions are prompting people to look for different ways to earn some extra income and the financial markets provide an excellent solution. You may not need a lot of education, years of experience, or copious amounts of money to start trading, but you do need a broker in order to kick off your trading career. They will be your partner in the journey and provide you the assets, tools, and other features you need for unlocking the potential of these markets. 

Where do you find a broker? A Google search will work and you will end up with a list of names to explore. However, it is necessary to remember that not all of these choices may be legitimate and reliable. There are some shady platforms that exist as well and some scams have also been known to happen in this market. Hence, it pays to be cautious and not make a mistake that can set you back in the long run. When you come across Genesis11, you will certainly be wondering whether it is a legitimate option or not.

The only way you can find out is by assessing its features and offerings and then coming to a conclusion. Let’s check Genesis11 out:

It is AML and KYC Compliant 

Two of the most well-known security policies in the world are referred to as AML (Anti-Money Laundering) and KYC (Know-Your-Customer. The purpose of these policies is to prevent the platform from being used for identity theft, money laundering, terrorist financing and financial fraud. If Genesis11 wasn’t legitimate, it wouldn’t be concerned about these illegal activities, so it is reassuring to know that it has chosen to follow proper procedures.

It Keeps Account Segregated

If a company is a scam, they would love to steal your money, which means they certainly wouldn’t offer you segregated accounts. This means that your money will not be kept in segregated accounts and will be mixed with the platform’s funds, so they can use it for their own purposes. Yet, Genesis11 keeps your money in segregated accounts and they are maintained with the top financial institutions for ensuring their security. 

It Offers Excellent Customer Support

Another common indication of a shady firm is that they don’t give you a way to connect with them once you start facing problems. But, on Genesis11, you will discover that they have offered you different channels for customer support. Not only do they have an FAQ section where traders can find answers to any queries, but they can also speak to their representatives through various channels 24/6. They are accessible via live chat, phone and email as well. 

It is Transparent About its Conditions 

When you visit a broker’s website and don’t find any knowledge about the trading costs and fees you will have to incur, it should send up a red flag. With Genesis11, this is not something you need to be concerned about because they are quite transparent about their charges. They offer you excellent spreads and they also charge a commission, which is clearly mentioned on their website. It is a flat rate of $6.95, so you don’t have to worry about increasing costs. Apart from that, they don’t spring up any hidden fees on you like market data fee or inactive account fee. This is certainly appealing because it tells you what to expect in terms of costs and how much profits you get to take home.

Genesis11 has also added a simple registration procedure, a range of trading instruments, educational resources and advanced trading tools for their clients. They offer them easy payment methods to follow and don’t have any unnecessary or complicated requirements, thereby ensuring that you are signing up with a legitimate platform that can help you trade easily.

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Bitcoin Will Drop Down to $20k a Piece, Says the Guggenheim CIO 0 7

It was just two weeks ago when Bitcoin (BTC) prices were hitting their all-time high of $41k per Bitcoin (BTC). Then suddenly the prices of Bitcoin (BTC) starting dropping significantly. In a matter of 48-hours, the price of Bitcoin (BTC) came down by $11k only to bounce back to $35k in the next couple of hours.

However, since the set-back, Bitcoin (BTC) has been having a hard time keeping up. Although there were many analysts who predicted Bitcoin’s price drop was due, yet they stated that it will grow in price again. Right after the plunge, Bitcoin (BTC) did manage to make a comeback but it was not a long-lived success.

In a matter of days, Bitcoin (BTC) again came all the way down to $33k per Bitcoin (BTC) and then again bounced back. Just a few days back Bitcoin (BTC) managed to go all the way up to $38k per Bitcoin (BTC). However, it is again sitting at $33k apiece, which goes onto show exactly how volatile Bitcoin (BTC) has become.

Bitcoin (BTC) has again become extremely volatile in the past two weeks. As it keeps showing the volatile nature, many investors have started growing uncertain about its stability. There are many investors who have already sold their Bitcoin (BTC) with fears of facing another plunge since 2017.

Based on the above case, one of the senior executives at Guggenheim Partners has made his prediction around Bitcoin (BTC) price. According to the executive, Bitcoin (BTC) is currently destined to go all the way down to $20k per BTC. No matter how many times it fluctuates and it manages to go up, Bitcoin (BTC) will eventually drop down to $20k per BTC.

According to the Guggenheim executive, Scott Minerd, Bitcoin (BTC) will not be able to hit an all-time high for the rest of the year 2021. Minerd shared his views around the price of Bitcoin (BTC) in an episode of the “Closing Bell” show airing on CNBC.

Minerd predicted that after hitting an all-time high of $41k per BTC, it is highly unlikely for Bitcoin (BTC) to again hit an all-time high in the running year.

Although Minerd has made this prediction around Bitcoin (BTC) price looking at the current situation, it does not mean that he has started criticizing Bitcoin (BTC).

According to him, Bitcoin (BTC) is still one of the most reliable investment assets and will continue to grow with respect to the adoption rate. Despite his recent comment about Bitcoin (BTC) taking a plunge down to $20k per Bitcoin (BTC), he still maintains his stance on another prediction.

Minerd has predicted that one day, Bitcoin (BTC) will manage to hit the $400k per BTC mark.

Dubai Regulatory Authority to Introduce Cryptocurrency Regulations 0 8

It was almost 11 years ago when the cryptocurrency industry was introduced to the entire world with the launch of Bitcoin (BTC). At that time, the industry was strongly opposed by the regulatory authorities as well as financial institutions.

The need for the cryptocurrency industry was felt when the traditional finance institutions had started taking too much control of people’s personal information. It was the financial institutions that had started dictating people and putting too much pressure on people.

That was the time when there was a need for an alternative to the traditional financial system to be established. A system that granted people the authority to control how much of the personal information they wanted to share with the providers. The cryptocurrency industry was developed on a decentralized platform that did not appreciate the interference of third parties. Whether it was a sale, purchase, or trade, there were no intermediaries involved on this platform.

However, the financial institutions as well as many countries started opposing the idea and were not ready to adopt the platform. As time went by, the cryptocurrency industry has grown enormous and has reached a cryptocurrency community of 200 million active users.

Just recently, the cryptocurrency industry hit a market capitalization of $1 trillion. This has brought the cryptocurrency industry into the spotlight and countries from around the world have started adopting the industry.

One of the recent countries that are looking forward to welcoming cryptocurrency on its soil is Dubai. According to the recent reports, the major regulatory authorities from Dubai are currently in the process of composing the regulatory guidelines in the country.

The Dubai regulatory agencies involved in the process include the Dubai International Financial Centre and the Financial Services Authority. These regulatory authorities are currently involved in enhancing the regulatory structure as well as the regulations in the country.

The Dubai Financial Services Authority has revealed that it is planning to ready and launch the regulatory framework for diverse digital assets for the years 2021 and 2022. The announcement was made by the DFSA on the working of the digital assets regulatory framework on January 18, 2021.

Once the new regulatory infrastructure is released and implemented, it will turn out to be very essential for the cryptocurrency industry in Dubai. It will allow the cryptocurrency firms in the country to provide their services on a larger scale. They will be able to offer investors more trading assets and will also be able to target businesses and enterprises in the country.

Most importantly, the firms will have full support from the Dubai regulatory authorities in the expansion of new services being introduced in the Bitcoin (BTC) verse.

The DFSA has announced that it will be publishing two consultation papers that will be public for commenting and feedback.

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