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GE Markets Review - Is it scam or safe?

GE Markets Review - is ge-markets.com scam or good forex broker?

RATING: 1.8 / 1 REVIEWS ForexBrokerz GE Markets
GE Markets is an offshore broker. Your money is not safe.

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Trading Accounts & Conditions

 

Account type Minimum deposit Min. trade size Maximum leverage Average Spreads ($ Commission)
Standard $200 0.01 1:200 1.8 pips
ECN $500 0.01 1:100 From 0.5 pips + $10 / lot
VIP $3 000 0.1 1:100 From 0.5 pips + $6 / lot 

 

GoldEagle Market (GE Markets) offers its clients three account types – Stannard, ECN & VIP. All of them provide variable spreads and access to the industry’s standard MT4. Only the Standard account is commission-free, but of course its spreads are wider.

 

A typical spread of 1.8 pips for the EUR/USD pair is above the average for the forex market, which is within the range of 1.0 – 1.5 pips for this pair. The situation is similar with the ECN account, where trading costs per lot exceed 1.5 pips on EUR/USD. For further information, you may check out real-time spreads of 15 leading brokers here.

 

Nonetheless, the main problem with GE Markets is its lax offshore regulation.

 

The Company. Security of Funds

 

Company

Country

Regulation

GE Market Limited

Vanuatu

VFSC

 

GE Markets was formed in the year 2015 and currently offers online trading in 62 currency pairs, metals like Gold and Silver, Crude Oil, Energy and a wide range of indices CFDs. It claims to provide No-Dealing-Desk trading environment with no conflict of interest.

 

Behind the brand is GoldEagle Market Ltd., a company holding a principal’s license as a dealer in securities with the Vanuatu Financial Services Commission (VFSC). We keep reiterating that one of the most important things to look for in a forex brokerage is trustworthy regulation. And brokerages registered offshore areas like Vanuatu are not properly regulated, nor supervised. Hence, doing business with such offshore brokers is risky and that is why we advise traders to select among companies licensed by the respective authorities in the UK, or Cyprus, for example.

 

Trading Platforms

 

GE Markets supports the ever popular MetaTrader 4 (MT4), available as a desktop and mobile versions.

 

Launched more than 10 ago, MT4 has proved to be stable, easy to use and professional trading platform. It has many functionalities, tools and add-ons that have been developed over the years – most notably Expert Advisors, which allow full automatization of trades, and technical analysis indicators.

 

When we tried out GE Markets’ MT4 demo platform, we found the spread om EUR/USD is around 0.9 pips on EUR/USD and no commissions apply (as opposed to the information on the broker’s website).

 

 

GE Markets’ MT4 platform. Click for a larger image.

 

Methods of Payment

 

Clients of GE Markets are offered the following payment modes: credit cards, bank wire transfers, and e-wallets Skrill, Neteller, WebMoney, FasaPay and China UnionPay.

 

Conclusion

 

GE Markets is an offshore forex and CFD broker that supports the industry’s standard MT4 platform. It claims to offer No-Dealing-Desk trading environment, but its spreads are above the average for the industry. To sum up the above: 

               

Pros Cons
MT4 offered Registered offshore
NDD environment     Spreads above the average
   

 

Latest news about GE Markets
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Traders` reviews for GE Markets

Spread

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Slippage

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Requotes

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Price feed

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Platform

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Deposit/Withdraw

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Customer service

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Summary

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