Gelios Trade Review: Scam or Genuine Broker? gelios.com is a forex and cfd broker that offers trading in a huge range of assets spanning commodities, indices, stocks, currency pairs and cryptocurrencies. According to the information gathered on the homepage, this broker is allegedly owned and operated by Belize company, a company registered offshore.
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GELIOS TRADE TRADING PLATFORM
This broker claims to use the Metatrader4 platform.
DEPOSIT AND WITHDRAWAL METHODS
This broker accepts Payeer, Litecoin, Visa, Master card, Bitcoin and Ethereum.
IS GELIOS TRADE LICENSED?
NO! Gelios.com broker is not licensed, though they claim so. The truth is that no regulatory body is acting as a watchdog overseeing that they comply with best practices in the financial market.
This broker offers live chat. However, the live chat service is low.
Gelios Trade is an unregulated broker, this is a source of major concern. We are convinced that gelios.com is run by a bunch of scammers, this is why they are anonymous. The way these scammers work is simple- First, they get registered offshore. Offshore brokerages are notoriously known for flaunting set industry regulations and rule s.After sharing your personal information, you will begin receiving calls from brokers, compelling you to invest with them and win big. After hearing their sale pitches, you become convinced to deposit some $200-250. And just like that – the scammers take a fat commission from this initial deposit. That is not how to become a broker. Not how real brokers work.
OUR VERDICT- GELIOS TRADE IS A SCAM!
Though the website looks legit and might entice unsuspecting traders, the truth is that the platform was designed in such a way that it would easily scam people into believing they are the real deal. Below are other reasons why Gelios.com is not worth your time or money;
- They claim that they use the Metatrader4 platform but when we tried downloading it, we discovered it is highly unstable which is bad news for any trader.
- No registration documents to prove they are regulated by a financial body.
- Unresponsive Live chat.
- This broker does not segregate accounts. This means that they are pooling funds in one account which is very dangerous.
- High demo spreads.
No clarity on trading conditions
When trading forex, cfd and cryptocurrency we always recommend you use a regulated broker that is licensed to trade financial instruments.
COMPARE WITH A TRUSTED BROKER
ETORO has registered addresses in London United Kingdom, Tel Aviv, Limassol, Australia and USA. They are among the best brokers in the industry offering trades in numerous assets including stocks, commodities, currencies, indices and cryptocurrencies. eTORO has the best social trading platform in the forex industry where you could copy the trades of successful traders. You could also earn additionally if your trades are copied. ETORO is regulated and licensed by the FCA(Financial Conduct Authority) in the UK, NBRB in Belarus and ASIC in Australia, which makes client funds safe. They accept traders worldwide..visit their official website