ANSWER Trade Genics is an unregulated broker even though it states offers that look too good to be true.Trade Genics presents zero details on its regulatory status, which is a distinct characteristic of unlicensed brokers, as legit brokers always present their accreditation and licenses in a prominent position. Additionally, it should be noted that the Commissione Nazionale per le Società e la Borsa (CONSOB) has ordered the black-out of Trade Genics, believing this broker offers financial services illegally. You can check the full warning here.Regarding your question, we would suggest not trade with Trade Genics since it is an unlicensed broker. Letting this broker hold and control your funds or trading with them is very risky, as there are no safeguards in place to prevent fraud or theft. Therefore, we would recommend staying away such unlicensed brokers as Trade Genics and trading with fully regulated brokers.
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