Generaltrade is a forex and CFD broker offering 45 currency pairs and various CFDs on assets like commodities, indices, and metals for trading. The broker provides a choice of three types of accounts for trading, leverage of up to 1:200, and undisclosed spreads. Generaltrade says to be a trading name of Lester Partners LTD, a company which is registered offshore in St. Vincent and the Grenadines. However, the broker doesn’t hold a legit forex license to operate on regulated markets like the EU, Australia, the UK, Canada or the U.S. The minimum deposit required with the broker Generaltrade for opening a Standard Account is 1000 dollars.
Generaltrade on its website displays the logos of VISA, Skrill, MasterCard, and AstroPay but the fact in reality is that they appear to accept majorly bitcoins. The reason of broker prefering payments in bitcoins is possibly for two reasons. First, bitcoin payments just like the other crypto payments are more anonymous, second, there is no official record as to which bitcoin wallet the money has sent or details of receiver. Above all this, Generaltrade has been blacklisted as a scam broker by the financial authorities of Europe, CNMV of Spain, CONSOB of Italy and the Financial Services and Markets Authority (FSMA) of Belgium.
If you have traded with Generaltrade and believe you have been scammed by them you have a chance to get your money back. Many unregulated brokers have been found to scam traders. At Broker complaint registry it’s our job to provide you detailed Generaltrade review and make sure you can fight back and get your money refunded. By filling the form you have taken the first step to recover your money.
Is Generaltrade a scam or legit broker?
Generaltrade has been suspected as a scam broker. We don’t recommend to trade with them and if you are trading with Generaltrade contact them immediately and try to get your fund out. If the Generaltrade has done the following, you have probably a victim of Generaltrade scam broker.
Reason to suspect a scam broker is in action:
The broker froze your account
The broker blocked your account
You cannot login back into your account
Money has been taken out from the account
The broker doesn’t take your calls
The broker shut down his website
You noticed the broker took money out from your bank account with out your permission
The broker is offering you a bonus
The broker is offering you to fund more money into the account after you lost a large sum
Don’t give up. You can fight back and get your money refunded. Start by filling the form above and we will get in touch with you and provide you with information on how to start the process.