Geotrading.co just happens to be a perfect example of “Do not judge a book by its cover”. Do not be deceived by the good looking homepage, Geo Trading is an illicit broker. Read this Geo Trading broker review to understand why.
In our bid to keep forex traders from scam brokers, we have made it our duty to review forex broker websites. That way, we can help you tell which one is legit and which one’s not. This review tells you all you need to know about Geo Trading broker.
About Geo Trading Broker
Geo Trading is supposedly a financial service company, a forex broker if you will. The company’s domain, geotrading.co does not disclose their parent company name and location. The only contact info besides an email address provided on the website is a phone number that bears an Indian Country code.
This broker trades in FX pairs, Futures, Indices, Metals, Energies and Shares. Furthermore, Geo Trading claims to be an award winning broker whose services are available to retail and institutional clients.
However, we didn’t need to go too deep to discover that this broker isn’t at all what they claim to be.
Geotrading.co: Why You Should Avoid This Broker
Here are the things we found (and didn’t find) on geotrading.co.
Geo Trading Withdrawal and Deposit
Geo Trading does not provide any withdrawal and deposit information. Just like the link to it’s demo trading platform atop the page, the link to its Terms and Conditions is merely a false link.
Due to this, the minimum deposit, minimum withdrawal, withdrawal fees, account dormancy fees, etc. are undisclosed. Of course the payment gateways include debit/credit cards and wire transfers, but that’s rather useless now.
Geotrading.co Trading Platform
Geotrading.co does not offer the MT4 or MT5 trading platforms; the two most prominent in the business as it stands. It is unusual to see any legit broker that does not employ any of these two for traders to use. Illicit brokers usually prefer to use substandard custom platforms.
Yet this isn’t even the case with geotrading.co. This broker does not provide any trading platform whatsoever. A trading platform is more or less the heart of a forex broker, because that is where the business happens. It’s safe to say Geo Trading really crosses the line with this one. They do offer a leverage of 1:500, with a spread of 0.4, but none of this matters in the absence of a trading platform.
Geo Trading Licensing and Regulation
First of all, it is already stated earlier that Geo Trading did not think it fit to tell us their location (a strong red flag already). The only hint we have is an Indian phone number in the ‘Contact Us’ section. Hence, in the absence of any tangible legal information, it becomes obvious that Geo Trading is an unlicensed broker.
An unregulated broker operates outside of forex brokerage laws. They are regarded as offshore and a great risk to forex traders.
Conclusion: Is Geotrading.co a Legit Broker?
No! Geotrading.co is not regulated by any financial agency. Besides, they do not even have any of the basic requirements of a forex broker. It would be a miracle for them if anyone falls for their schemes.
In conclusion, we do not recommend that you trade with this broker. Rather, we advise you deal with a transparent broker who’s licensed by a reputable agency.
If however, you wish to add something else about this broker, feel free to use the comments section.
Our Recommendation For You
You can make money online by trading with reputable, reliable and trustworthy brokers. We’ve been trading with the Fortrade broker below for sometime now and we have no regrets!
FORTRADE- One of the Top rated brokers and a good choice for new traders. This broker is Licensed in UK(FCA), Australia(ASIC) and Belarus(NBRB). Guess what? you can trade from any part of the world as it accepts Traders Worldwide. Interested in trading with one of the best Forex brokers? Head Over to Fortrade and start trading!