When choosing a trading brokerage, there are a few things to keep in mind. First, you will want to find a licensed trading company. Then, you’ll want to have good software and the right trading instruments.
Our Geetle review will show you whether this investment firm fulfills the conditions or not. Also, we’ll help you understand what to do in case of monetary losses.
Geetle is a brand of Geetle Ltd, registered in Taiwan. At least that’s what website tells us. There are several monetary authorities in the country, including the Financial Supervisory Commission and the Central bank of the Republic of China. However, Geetle’s regulation is not with any. Just like NuxTrade we reviewed earlier, this firm runs unauthorized.
Just for the sake of a thorough job, we searched for their license in other databases, such as CFTC, FCA, BaFin, CONSOB, etc. Of course, we found nothing.
Additionally, the CFD leverage in Taiwan is limited to 1:30 for retail investors, while Geetle here offers up to 1:400. It’s another strong indicator that we’re dealing with a bogus site. If you have any information about their operations, inform us immediately.
Geetle is an unregulated trading broker allegedly based in Taiwan. However, we cannot find any confirmations for this, as the firm is not under FSC supervision.
Like many scammers out there, Geetle broker advertises its services via Google Ads and social media. It’s lurking inexperienced investors by promising favorable trading terms with little to no risk. The majority of their customers come from the following countries:
Geetle trading platform is a proprietary WebTrader. Allegedly, it has apps for Linux, Android, and iOS. However, once we tried accessing it, we saw an error.
The main issue with browser-based platforms is that they are entirely dependent on the broker site. If the site is malfunctioning, so is the software.
With third-party apps, such as MT4, MT5, or cTrader, you don’t have to worry about it. Apps are maintained by their respective owners and even if the broker vanishes, you will still have the app. Of course, withdrawals might be an issue as there won’t be anybody to approve the request, but you can rely on taking screenshots and reporting everything to authorities. With WebTrader, all falls short once the brokerage firm vanishes.
Now that we’ve covered lack of a license and the disappointing software, we believe there’s no need to tell you more. Yet, here’s the offer of tradable assets:
Nothing you wouldn’t get elsewhere, but with a higher level of fund safety.
There’s nothing much we can say about fees and spreads without a platform access. The website promises zero commissions, but we’ve learned so far it’s not to be trusted. You will surely pay spreads and swaps, and possible other fees.
There’s quite a wide choice of Geetle account types:
According to the FAQ section, the minimum deposit is $500, but you get no perks. Even this is a large sum of money for an unregulated brokerage.
As per the accounts, you can get more market events and support from the company side by upgrading to any of the higher ones. Yet, nothing is worth risking thousands of dollars with a company without authority approval.
There’s no Geetle Demo account for testing the platform. As mentioned, once we registered, the software showed an error. Therefore, we’re unsure if you can access the system and how.
Most legitimate firms offer Micro accounts starting at as low as $10. They also offer a trial account as they have nothing to hide. You have all the reasons to choose a licensed firm over Geetle broker.
Let’s take a look at the payment options for Geetle withdrawal:
Out of these, debit/credit cards are the safest. Namely, if something goes wrong, you have up to 540 days to request a chargeback.
According to the site, withdrawal requests are processed within 1-5 business days, depending on the method you used. Yet, there are no other specifications, such as costs.
If you lost your hard-earned money trading with Geetle, we are here to help you out. Global Fraud Protection has dedicated chargeback experts and CipherTrace analysts ready to evaluate your case during a free consultation.
Then, we can find a way to recover your money. Don’t let scammers run with what’s rightfully yours! Get in touch now!
Geetle is a scam broker you should avoid. In case you already invested your money, we might be able to help with a recovery procedure.
No, Geetle doesn’t offer its customers a risk-free Demo account.
Geetle doesn’t provide a good trading platform, but a proprietary WebTrader.
Geetle is a scam broker you should avoid. In case you already invested your money, we might be able to help with a recovery procedure.
No, Geetle doesn’t offer its customers a risk-free Demo account.
Geetle doesn’t provide a good trading platform, but a proprietary WebTrader.
The post Geetle Review 2023 – Detailed Review of an Unregulated Broker Geetle appeared first on Global Fraud Protection.
