Read our Trade Genics review to see if we recommend this broker for trading. Just to clear doubts, this is a tradegenics.co review. They also use gntrade.co.
Who are they?
After taking a look at their website, it shows that they do not fall under any regulating agency. That is a MAJOR RED FLAG!! That should be enough for you NOT to invest with them. And they also work with websites that offer “Automated trading software” which is another red flag, as this kind of websites are notoriously famous for scamming schemes.
So Trade Genics is just another unregulated forex broker, which means the customers are not protected, and there is highly likely they will get away with your hard earned money and there will be no regulating agency to hold them responsible.
| Regulatory Body | Status |
|---|---|
| FCA (UK) | No record of authorization |
| ASIC (AU) | No record |
| CySEC (EU) | No record |
| SEC / CFTC (US) | No record |
How does it work?
Usually unregulated forex brokers work in the following way. They will call people to persuade them to make the initial minimum deposit, while trying any conceivable method in order to make that happen. They will offer deals that sound too good to be true, like we will double your initial deposit or you will make $100 per day easily. Please don’t fall for anything they say!!! It is a SCAM! After making the initial deposit, people get transferred to a smarter scammer, called a “retention agent”, who will try to get more money out of you.
Withdrawing funds
You should submit a withdrawal request ASAP, because your funds are never safe with an unregulated broker. And here is when things get tricky.
If you want to withdraw your money and it does not matter if you have profits or not, they will delay the withdrawing process for months. If they delay it for six months, you won’t be able to file a chargeback anymore and your money is gone for good. It does not matter how often you remind them or insist in withdrawing your money, you will NOT get them back. And if you signed the Managed Account Agreement or MAA, which is basically authorizing them to do anything they want on your account, they will lose all your funds so there won’t be anything to request anymore.
How to get your money back?
If you already deposited your money with them and they refuse to give your money back, which is very likely to happen, don’t worry, it might be a way or two to get your money back.
First of all you need to keep the emails as a proof that you have been requesting the money back from them but they don’t give it to you, or they delay the process for too long, with the intention of not refunding your money.
The first thing you should do is perform a chargeback! And you should do this right away! Contact your bank or credit card provider and explain how you were deceived into depositing for a trading company that is not regulated and they refuse to give your money back. This is the simplest way of getting your money back and is also the way that hurts them the most. Because if there are many chargebacks performed, it will destroy their relation with the payment service providers. If you haven’t done this before or you are not sure where to start or how to present your case to your bank or credit card company, we can assist you in preparing your chargeback case. Just contact us at [email protected] but do not let your broker know they you read this article or that you are in contact with us.
What about wires?
If you sent them a wire, there is no way to perform a chargeback on a wire. For this step you need to raise the fight to a different level. Tell them that you will go to the authorities and file a complaint against them. That will get them to rethink the refund possibility. Another thing you can do is prepare a letter or email for the regulating agencies. Depending on the country where you live, you can search on google to find the regulating agency for Forex brokers in that country. After that you can prepare a letter or an email describing how you got deceived from them. Make sure you show this letter or email to them, and tell them you will send it to the regulating agency if they don’t refund your money. If you do not know where to start, reach for us at [email protected] and we will help you with this step as well.
Make sure you leave reviews about Trade Genics in other sites
Another way to hurt them and save other people from falling victims is to leave bad reviews on other sites, and describe shortly what happened. If you fallen victim please leave a review and a comment on this site at the comment section. Also, when these people change their website they tend to call the old clients, so if they call you from a new website please write it down on the comment or let us know it by contacting us. That would be really appreciated by us and families all over world. Also if you get phone calls from other companies please put the name of these companies also in the comment or send it to us. We will expose them too.
Trade Genics Review Conclusions
Making the Trade Genics review is actually a pleasure for us, and we hope to save as many people as possible from losing their hard earned money. A good rule of thumb is to carefully review all the Forex companies and any other company for that matter, before you perform any transaction. We hope that our Trade Genics review has been helpful to you. If you have any questions or you need an advice about the withdrawing process, feel free to contact us at [email protected] or by using this contact form.
If you like to trade please do it with a trustworthy, regulated broker, by choosing one of the brokers listed below.
It is the first time I ve been scammed in such a horrible way that kept me up for many nights. Considering I ve been working for Greek and British banks for 10 years, and still falling for it, I must say their techniques are of another level. The red flags were everywhere, like TRADEGENICS being a non-regulated website, no CVS’s and profiles of the company’s staff, no LinkedIn profile of Nikos Papadimitriou -only God knows if this is his real name-, making only profits and never ever having a negative day, not being able to withdraw the money yourself but applying to their financial department first, using anydesk to access my computer, etc.
I will agree with the others who have spoken before me as NOT TO TRUST THEM and I would also suggest we gather enough evidence to prosecute them, as those people are dangerous enough to steal your life’s savings without feeling any remorse or regret!!
Nikos Papadimitriou was the guy who was contacting me only through viber, which is a Greek version of WhatsApp and all our discussions and communication was in Greek. He allegedly has houses in London, but now lives in Germany with his wife and 2 daughters, where he owns other properties (of course he does as he scammed me and you and so he can afford a good life!)
He convinced me that my money will be with him for a month, and I will then be able to withdraw all of the amount. Actually, he sounded very pissed at me when I said I want to stop the investment after a month. Apparently with 5.000 I ve managed to make 52.000!!!
The moment I put an end to this fiasco was when he asked me for half of the amount, 25.000 to be transferred into my Binance wallet (which obviously wouldn’t be MY wallet but theirs) so that the platform doesn’t block the 52.000 coming in. I then told him that it doesn’t make sense to give him more money to be able to get back my profits and initial capital back. And saying it aloud, made a big difference!! That’s when I started receiving phone calls from a Binance employee -whom was obviously part of Tradegenics- trying to convince me again to transfer 25000 in order to receive my profits. I put an end to this, calling him a fraud, and after that I visited the Binance website and came across the pop up window informing all potential victims ‘WE WILL NEVER CALL YOU’. Then I started receving phone calls from the Capital Gain department from the UK government!! What Capital Gain exaclty when I actually have lost money and not gained anything?
Overall, these guys underestimate our IQ’s, they play with our minds and of course offer hope which is always welcome into people lives. They offer a dream you can’t easily achieve working 9 to 5 and if you re in a vunerable state, you just buy it!
They should be stopped immediately.
If anyone who has been scammed by them want to contact me, please leave a message here for me and I will get in touch.
Their details are with the authorities now and hopefully more of us will come forward and make sure they get what they deserve!
I also have 2 more friends who have been scammed from them, and unfortunately one with quite a lot of losses…
(1/5)
This firm is nothing but an online scam. I’ve been dealing with them for 3 months, and after incresing my balance to 41,000€, I requested a withrawal of 16,000€. They have blocked my account without notice and said that I must make a deposit of 35,000€ to unblock it. They’re nothing but criminals, don’t you dare put your money on this site or you will be robbed without mercy. I will send a report to INTERPOL and see if they can prosecute these bunch of thieves.
Remember: never put your money on Trade Genics, it’s a complete fraud.
(1/5)
Zsigmond László vagyok. Engem atradegenics több mint 5 millió forintal húzutt le hogy fektesek be. Az egyenlegem is napról napra nőtt .Utoljára amikor be tudtam lépni ,mert letiltották a bejelentkezésemet is kb.61.000 USD volt az egyenlegem. Kértem E-mail- ban pénzkivételt de a mai napig egy fillért nem utaltak. Nekem is a binance be tették be utána rögtön ki is vették.