Home » GeneralTrade Review – Generaltrade.cc Motives and Info

GeneralTrade Review – Generaltrade.cc Motives and Info

GeneralTrade Review - Generaltrade.cc Motives and Info

Honestly, all our dreams went down the drain the moment we walked into GeneralTrade. The home page, for one is extremely small. Too much so that the computer fills up and does not go down. That is, there is no scroll-down alternative. The remainder of the website is full of text and so many sub-pages that we were both overburdened and overwhelmed at some stage. It’s not that much that we meet a suspect broker with a knowledge overflow. This analysis would show all the critical details that readers need to be able to determine whether to deposit in GeneralTrade or not.

For opening an account. We filled out a questionnaire that reminded us of past brokers that used the same interface for registration. They were just unchecked. Once again a strong reminder of past scammer brokers was the subsequent usage field. It is an oversimplified dashboard, with half of the functionality that is industry-standard.

At least this one had the Activ8 online trader, a trading app. There we got a hold of a 3 pip EUR/USD spread, which is a widely used value among scammer brokers. It is not beneficial to traders in any way. At 1:200, the leverage was limited. The following accessible trading tools are disclosed by Activ8: forex, cryptocurrencies, commodities, indices, and stocks.

The website is available in English, German, Italian, and Spanish.

GeneralTrade Review - Generaltrade.cc Motives and Info

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Income Mentor Box

Legal Status and Regulation GeneralTrade

The broker is the official trade name of Lester Partners LTD a business registered in Saint Vincent and the Grenadines. As yet this Caribbean nation has no FX regulator and as such, does not have the ability to control any forex brokers. There are thousands of brokers residing in the region, and everybody is uncontrolled.

We have to assume that GeneralTrade is UNLICENSED and thus a danger to all portfolios, because there is no other confirmation that GeneralTrade is registered anywhere!

There is no incentive at all to invest in a broker that is uncontrolled. Regarding the option of a dealer, the safest recommendation there is to always search for a licence. You are off to maybe the strongest start if the broker has an FCA and CySEC authorization, since these are some of the industry’s biggest regulators.

Legitimate FX overseers usually implement a series of guidelines for each of their specified brokers. To meet rather specific rules, brokers form an arrangement with them. In addition, certain companies provide payout plans that compensate customers whose dealers have been insolvent, such as the FCA or CySEC. A managed broker, as you can see, helps not only the brokerage itself, but also the traders.

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GENERALTRADE DEPOSIT/WITHDRAW Procedures AND Payments

As per the deposit portion of the registered customer dashboard, Naspay was the only way we could finance an account via it. It was disclosed that the minimum deposit was $150. However as we continued with the payment, it was discovered that the actual depositing form is a credit card.

As for the segment on withdrawal, it shows that there is no withdrawal limit number. When we attempted to continue with the removal, though, the mechanism redirected us to the key consumer dashboard tab. The Deposit and Withdrawal Policy indicates that payments are available, but the website never offers any additional details regarding them. The service period for withdrawal requests from GeneralTrade is up to 5 days.

The overall experience is further spoiled by the inclusion of the Undeposited Funds. This provision is reflective of GeneralTrade’s uncontrolled activities, and hundreds of brokerages of scammers previous to it. In essence, regardless of this provision, consumers can not delete gains made from trading. The whole GeneralTrade experience is thus made redundant.

And thus, GeneralTrade cannot be entrusted with your funds. It’s a fraud and thus a total waste of time and resources!

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