It has been a while since we saw any real innovation in this industry. That is not to say that there is hardly any excitement out there. The best way a brokerage can attract the attention of the trading community nowadays is by perfecting what is already established. GeniusIG is one of those brokers. Very rarely does it try to rock the boat, but rather stick to the fundamentals and does them pretty well. In this review, we aim to highlight all the highs and the lows we encountered after trading with this brokerage for several weeks. Be sure to stick around until the end to find out if they are worthy of your time and money.
GeniusIG acknowledges that there are many different types of traders, each with its own needs, ambitions, and budget. In order to accommodate them all, there are six distinct tiers. Oddly enough, even with such a high number of account types, there was still no room for a demo account. Here is a quick breakdown of all of them:
- Amateur (250$)
This will be the starting off point for many given the absence of the demo account. For a reasonable price you are allowed full access to the platform, a personal manager and numerous educational content, including webinars, seminars, financial market introduction, and daily market reviews.
- Silver (5,000$)
As you start funding your account more and more, the amount of perks starts increasing. Silver accounts additionally qualify for trading signals (three per month) and a no maintenance fee.
- Gold (10,000$)
Holders of Gold accounts get to enjoy 10 trading signals per month, risk management team, artificial intelligence analysis and crypto arbitrage rate access. According to GeniusIG, this is one of their most popular packages.
- Marble (25,000$)
For 25k, you get live trading sessions, no withdrawal fee and access to the loyalty program. Starting with Marble accounts, high volume traders have something worthwhile to consider at GeniusIG.
- Diamond (50,000$)
Diamond accounts introduce credit eligibility, quarterly crypto exclusive reports, private educational sessions with 3rd party and an ever increasing amount of trading signals each month (50 signals)
- Platinum (100,000$)
The platinum tier is the absolute best GeniusIG has to offer. In addition to everything previously mentioned, traders receive exclusive crypto indicators, customized crypto package and quarterly exclusive business plans. If you are a full-time trader, then the Platinum tier is definitely worth considering.
Making good decisions as a trader essentially boils down to making well-informed decisions. This means that there is a need for constant education and GeniusIG acknowledges this by offering both its paying and non-paying clients something of value. Complete beginners can head to their website and start learning about this industry completely free of charge. There are several tools such as the Asset list and the Glossary that do a great job at introducing you to the basic terminology. Once you master that, you can start reading the available eBooks. These are well illustrated and contain a variety of topics ranging from basic technical analysis all the way to advanced strategies.
If you are an intermediate or even an advanced trader, worry not, there is something here for you too, but it is hidden behind a paywall. Once you open an account at GeniusIG, based on your chosen account type, you gain access to much more tools that can help upgrade your skills to the next level. These include webinars, daily reviews, risk management and financial planning workshops, trading signals and much more. These do a great job preparing you for trading in the real world.
GeniusIG has made an unorthodox choice when it comes to its trading platform. While most of its competitors rely on solutions such as Meta Trader, they decided to build their own platform from the ground up. While MT4 and especially MT5 give a lot of options to traders, they have often been called out for their unwelcoming design, huge learning curve and overall buggy performance. These are the very issues GeniusIG decided to address and, from the very beginning you can see that they did a great job.
Navigating the platform is very easy thanks to its intuitive design. We tested it on several beginners, and none of them had any issues finding their way around. The other impressive thing was the platforms’ overall stability and performance. Whatever you do, you can rest assured that it will execute instantly, which is of great importance in such a quick-paced industry.
The left part of the screen is reserved for browsing and selecting your desired assets. They are all divided into several categories including Forex, Crypto, Stocks, Commodities, Indices and your favourites. You can at all times access the trending assets list, what’s currently in your portfolio and search for instruments for yourself. The large preview screen next to each asset is very helpful because it holds vital information such as low and high prices as well as the overall performance since the last session. Once selected, each asset can be interacted with on the right on the real-time performance monitor. This shows you all the past and current performance and allows for further analysis with the provided tools. Granted, the number of tools is somewhat limited, especially compared to Meta Trader, but, you will find all the essentials here.
Support is one of those things that you don’t really think about until you run into an issue, and then all of a sudden, it becomes the most important feature of them all. Luckily GeniusIG has built a strong system that can address pretty much anything you throw its way. You can interact with them in several ways including emails, call centres and quick chat features. All of them are held to the same exact standards of quality, so it all comes down to your own preference. The only thing to keep in mind is the operating hours. While we would have loved to see 24/7 support, this is not the case, so be aware of that. Chat works Monday to Friday 07:00-14:00 GMT, and phone lines are available Monday to Friday 09:00 – 13:00 GMT. We advise heading directly to their Contact us page to figure out for yourself what option works best for you.
At GeniusIG you will encounter pretty much the same funding methods as anywhere else. The only omission would be Bitcoin transfers, so if you prefer using your eWallet, you are out of luck. Alternatively, using any type of credit card, debit card or bank wire transfer works seamlessly. The waiting times are on par with the industry, but then again this is mostly dependant on your bank provider and not your brokerage.
GeniusIG offers a pretty comprehensive deal to all types of traders. If a great trading environment is your top priority, then you should look no further. All of its pieces work flawlessly together to create one of the best trading experiences we experienced recently. GeniusIG receives our full-hearted recommendation for all traders, regardless of their prior experience.