Thinking of getting into business with GeminiOptions? Here is what you must know about this broker. Carefully read this review to find out if geminioptions.com is the trading platform you will want to trade with.
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About GeminiOptions Broker
GeminiOptions is an offshore brokerage company with a lot of promises for traders. The broker’s contact shows a call line of different locations, which are London and the US.
There are different account types the broker offers. See below.
Added, the broker claims regulations from FCA, CONSOB, BaFin, AMF and MFSA.
To clarify, in spite the trading instruments GeminiOptions claims to offer, traders must know they are dealing with an unknown broker which does not have a regulation over its head.
geminioptions.com: Reasons to Avoid This Broker
Firstly, geminioptions.com is a platform with no financial authority overseeing its financial services. We found out that neither of those financial authorities mentioned by the broker recognized GeminiOptions as a licensed entity.
Secondly, we noticed geminioptions.com has a free account for traders. We advise you don’t waste your time on that, so you don’t get lured into trading real fund with this unregulated broker.
Further, this broker does not offer money back guarantee which means trading on such platform is clearly a risk as your money cannot be refunded.
These are cons for forex traders to avoid losing money with this scam broker. It is always advisable you check for regulated and licensed broker on financial authorities websites before depositing fund for trading.
Withdrawal and Deposit
Withdrawal process
Under the withdrawal policy, GeminiOptions leaves us with no information on what fees forex traders will be charged for any withdrawal nor processing days on each withdrawal. Truly, this broker is a scam and its fraudulent schemes are clear.
Minimum Deposit
GeminiOptions minimum deposit is pegged at $500.
As for the payment methods, broker accepts Debit/Credit cards, Skrill, Wire Transfers and more. But, you should not consider making any payment with this broker because it is a risk and scam. So beware!
GeminiOptions Platform
GeminiOptions claims to offer MT5 (Industry standard trading platform) by providing a link for download. However, this offer doesn’t make the broker legit because any scam broker can do the same to lure forex traders.
As for the leverage, it can get up to 1:100. Nevertheless, we say don’t consider doing that with an unregulated forex broker like this one because you stand the chance of losing your money.
GeminiOptions Licensing and Regulation
It is not far from believing that this broker is not a licensed brokerage firm. It is not under any financial regulation that means your money is at risk. Its unlicensed and unregulated activities are truly a red flag and must be avoided.
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Licensed in Australia(ASIC) and Cyprus(Cysec)
Accepts Traders Worldwide
Minimum Trade Deposit $100
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Conclusion: Is geminioptions.com a Reliable Broker?
No, geminioptions.com does not seem like a reliable broker for traders even though it promises offers that look good to be true.
Most importantly, the broker is unregulated which means it is not authorized to operate in any regulated country and you should definitely not put any money into it.
Because we have taken it as a duty to review scam forex brokers and also share reasons, we will not recommend this broker for trading.
Kindly share your comment about this broker in the comment section.
