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Gelios Trade Reviews: Is gelios.com a Scam or Legit Broker?
Gelios Trade Review: Scam or Genuine Broker? gelios.com is a forex and cfd broker that offers trading in a huge range of assets spanning commodities, indices, stocks, currency pairs and cryptocurrencies. According to the information gathered on the homepage, this broker is allegedly owned and operated by Belize company, a company registered offshore.
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GELIOS TRADE TRADING PLATFORM
This broker claims to use the Metatrader4 platform.
DEPOSIT AND WITHDRAWAL METHODS
This broker accepts Payeer, Litecoin, Visa, Master card, Bitcoin and Ethereum.
IS GELIOS TRADE LICENSED?
NO! Gelios.com broker is not licensed, though they claim so. The truth is that no regulatory body is acting as a watchdog overseeing that they comply with best practices in the financial market.
This broker offers live chat. However, the live chat service is low.
Gelios Trade is an unregulated broker, this is a source of major concern. We are convinced that gelios.com is run by a bunch of scammers, this is why they are anonymous. The way these scammers work is simple- First, they get registered offshore. Offshore brokerages are notoriously known for flaunting set industry regulations and rule s.After sharing your personal information, you will begin receiving calls from brokers, compelling you to invest with them and win big. After hearing their sale pitches, you become convinced to deposit some $200-250. And just like that – the scammers take a fat commission from this initial deposit. That is not how to become a broker. Not how real brokers work.
OUR VERDICT- GELIOS TRADE IS A SCAM !
Though the website looks legit and might entice unsuspecting traders, the truth is that the platform was designed in such a way that it would easily scam people into believing they are the real deal. Below are other reasons why Gelios.com is not worth your time or money;
- They claim that they use the Metatrader4 platform but when we tried downloading it, we discovered it is highly unstable which is bad news for any trader.
- No registration documents to prove they are regulated by a financial body.
- Unresponsive Live chat.
- This broker does not segregate accounts. This means that they are pooling funds in one account which is very dangerous.
- High demo spreads.
No clarity on trading conditions
When trading forex, cfd and cryptocurrency we always recommend you use a regulated broker that is licensed to trade financial instruments.
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Gelios Trade Review – is gelios.com scam or good forex broker?
RECOMMENDED FOREX BROKERS
Trading Accounts and Conditions
|Trading account||Min. deposit||Max. leverage||Spread|
|Standard||$100||1:100||4 pips, fixed|
Gelios Trade is a forex broker that uses the MT4 trading platform. It does not seem to offer its clients different trading accounts and has not presented clearly the trading conditions. What is worse, its legal situation is somewhat unclear, and that rises some serious issues, which we will discuss in the following review.
Gelios Trade Advantages
Gelios Trade may not score highly in our review due to a number of reasons we have listed below, but the platform they offer isn’t one of them. The MetaTrader4 (MT4), along with the MT5 is among the finest and most popular trading solutions on the market.
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The MT4 is highly praised for its ease of use, reliability, and useful features and functionality. Tha platform has excellent charting tools, and numerous market indicators and trading bots, designed to help you run automated trading sessions.
Gelios Trade Disadvantages
Not licensed, despite the claims
Gelios Trade is a trademark of Gelios Trade Ltd, a company based in Dublin, Ireland, which, however is not regulated in this country. Instead, the broker claims to be registered as an International Business Company (IBC) in Belize and authorized by the International Financial Services Commission of Belize (IFSC). Gelios Trade has even uploaded its certificate of incorporation on the website. However, our check in the IBC register of IFSC revealed that the above-mentioned company is not present there.
The lack of legit license is our main concern with Gelios Trade, as most unregulated brokers, especially those making false regulation claims, are usually engaged in some sort of fraudulent practices.
Zero clarity on trading conditions
Another worrisome sign regarding Gelios Trade is the broker doesn’t provide much details about the trading environment they provide. It has not disclosed what leverage levels it provides, nor any reference spreads on its website, which is the good practice of all decent forex brokerages. This is an obvious disadvantage that is actually very common among shady brokerages.
Very high spreads on demo
When we tested Gelios Trade’s MT4 in demo mode, we found out that actually the cost of trading with this broker is very high.
Gelios Trade’ MT4 demo. Click for a larger view.
As you can see from the above image, the benchmark EUR/USD spread is fixed at 4 pips, which is twice the industry’s average. For further information and comparison on spreads, check out the below link:
Another thing we noticed while trying out Gelios Trade’s MT4 is the four-digit quoting. Nowadays, almost all forex brokers provide a fifth symbol after the decimal point. In case you are not that familiar with currency trading, this is actually very important, especially for those using short-term trading strategies.
No CFDs on indices and cryptocurrencies (on demo)
Last but not least, judging from the demo account offering, the broker’s product portfolio is not very diversified. It includes around 25 currency pairs, as well as CFDs on gold and several stocks. Probably many traders will miss popular trading instruments such as Bitcoin and other digital cryptocurrency CFDs, as well as CFDs on indices like UK100, US30, and more.
Gelios Trade is an MT4 forex broker whose offering isn’t very attractive for a number of reasons, which we covered above. The costs of trading with this broker are very high, and what is worse, Gelios Trade is not present in the register of Belize’s regulator, as claimed.
Even if the broker is indeed licensed in Belize, this is still an offshore destination, where the regulation and licensing requirements are not as strict as in other jurisdictions. Many forex brokers choose to register in Belize, since they are obliged to meet fewer and softer requirements and to comply with less strict rules than if they were regulated in the UK or US for example. In fact, IFSC rather relies on self-regulation of forex brokers.
To sum up the above:
|Not licensed, despite the claims|
|No clarity on trading conditions|
|High demo spreads|
FXTM a regulated forex broker (regulated by CySEC, FCA and FSC), offering ECN trading on MT4 an MT5 platforms. Traders can start trading with as little as $10 and take advantage of tight fixed and variable spreads, flexible leverage and swap-free accounts.
XM is broker with great bonuses and promotions. Currently we are loving its $30 no deposit bonus and deposit bonus up to $5000. Add to this the fact that it’s EU-regulated and there’s nothing more you can ask for.
FXCM is one of the biggest forex brokers in the world, licensed and regulated on four continents. FXCM wins our admirations with its over 200,000 active live accounts and daily trading volumes of over $10 billion.
FxPro is a broker we are particularly keen on: it’s regulated in the UK, offers Metatrader 4 (MT4) and cTrader – where the spreads start at 0 pips, Level II Pricing and Full Market Depth. And the best part? With FxPro you get negative balance protection.
FBS is a broker with cool marketing and promotions. It runs an loyalty program, offers a $100 no-deposit bonus for all new clients outside EU willing to try out its services, and an FBS MasterCard is also available for faster deposits and withdrawals.
FxChoice is a IFSC regulated forex broker, serving clients from all over the world. It offers premium trading conditions, including high leverage, low spreads and no hedging, scalping and FIFO restrictions.
HotForex is a EU Regulated broker, offering wide variety of trading accounts, including Auto, Social and Zero spread accounts. The minimum intial deposit for a Micro account is only $50 and is combined with 1000:1 leverage – one of the highest in the industry.
Gelios Trade Review – Crypto Trading MLM or BIG ROI Ponzi Scam?
Hey there and welcome to my all new Gelios Trade Review!
I’ve had some friends in Asia hit me up with Gelios Trade opportunity so I decided to take a look at this company.
Seems as if Gelios Trade is really targeting Asia with their marketing efforts.
Today I’m going to look at the company, products (if any exist) and their compensation plan.
You ready to hit it… LET’S GO.
Gelios Trade Review
I must say the Gelios Trade review has been quite different then all the other crypto ROI MLM reviews I’ve done in the past.
Could this actually be a legit crypto MLM or just a huge elaborate scam to steal people’s bitcoin and ethereum?
You’ll see exactly what I mean so just keep on reading.
First things first you’ll notice over at their website they’ve gone to some extent to make this company at least look real.
They present an actual executive team on their website, a phone number exists where you can actually call the company (I haven’t tried it) and Google reviews has them with 76 total and a PERFECT SCORE of 5.0.
Here is a screenshot:
Very unlikely but lets keep going in any case.
The fearless leader for Gelios Trade goes by the name of William Svensson but after looking all over the net I can’t seem to find a single digital footprint this guy actually exists.
There are some websites talking about him but it looks like they are all just backlinks pointing back to Gelios Trade website.
This is common in SEO which not only gives some credibility to a company but also backlinks to build up their website and rank for certain keywords.
It’s tough to say exactly what they are trying to accomplish.
My guess right now they want the credibility so people will believe William actually exists.
I Mean Does Svensson Really Exist?
If they have gone to such an extent to make this company look creditable wouldn’t you think the owner would be on their website, doing a video or have some sort of a Linkedin account or something?
They speak about Willam like he’s a long time investor, philanthropist, manager and a large range of financial and public services but outside of Gelios Trade I can’t seem to find him anywhere.
Maybe he does exist and hates taking pics or making videos but that is highly unlikely.
Lets move forward and see what we can find out.
Gelios Trade Marketing Material
Their frontman goes by the name of Kristian Berg who also seems to have no digital footprint outside of the Gelio website itself.
What I don’t understand is in this video these two are having a conversation and Kristian Berg talks about how he’s been trading with Gelios since 2020.
However if you do research on the domain itself it was up for sale late 2020 and Gelios Trade seems to have acquired it February of 2020 or it’s been updated.
The “gelios.com” domain is in fact 19 years old but there seems to have been multiple owners.
Gelios Trade seems to be NEW and was no represented on their website until just a few months ago.
All of this information can be confirmed on Whois and Wayback Machine just take a look and you will see.
They also mention on their website that Gelios is an asset management group with a physical headquarters in Lillehammer, Norway and was established in 2001.
Where Is Gelios Located?
If you look at the Gelios Trade videos and pictures it seems as if they are located in some sort of rented office space.
Could That Be Svennson Looking Out The Window?
I don’t want to be that guy that calls out scam but I’ll say there are many red flags and I’ll be the first to say it.
There are MANY discrepancies with the founding date, the ‘staged’ office tour and the executive information where none of these people seem to have a digital footprint or history whatsoever outside of the Gelio website itself.
I mean it seriously looks like they rented an office, popped up their logo on the wall and set up a few computers to make it all look legit.
From what I can tell whoever is running Gelios Trade does not want you to know who they are or what their names are.
Gelios Trade Products
There doesn’t seem to be any retail products but you can become an affiliate and promote the affiliate membership to others.
Gelios Trade Compensation Plan
They advertise passive returns like most other scams.
You can invest USD, Bitcoin or Ethereum with Gelios which is bit different of a strategy then most crypto MLMs who just want your bitcoin.
Gelios works off of a unilevel structure.
Unlike a binary where only two people go on your first level you can go as wide as you like.
You can sponsor as many people as you like across your first level and those people can do the same.
Commissions are paid out on percentages:
Cost To Join Gelios?
You can actually join Gelios for free it doesn’t cost anything.
However if you signup as a free member you can only earn on 2 levels in the unilevel.
Gelios Trade Conclusion – Legit or Scam?
I could see if you were someone brand new you would look at Gelios Trade and automatically think this company was 100% legit.
Only problem I see here (and it’s a big one) they are very dodgy and if these people actually don’t exist outside of Gelios then they are lying and that in itself is enough for me to not trust or join a company.
Also there is NO EVIDENCE of this “GeliosSelect” trading platform they claim is the best in the world.
Ok where is the proof in video, webinars, facebook lives etc etc..
If it were so great and you want to give the golden goose to the world for free then why not show how it works?
If they had such a product they could throw some money at it and make millions without having to deal with MLM side of the business.
Just invest some money and bam you get rich.
Also when you promote anything “passive” it promotes problems with government entities.
If you are not registered with the financial regulators even if it were completely legit they will eventually be shut down.
You will also notice they do no accept clients in the USA and this is a tell tale sign of a company trying to do business for as long as possible without having to deal with US laws.
What happens to many businesses they open for business in the USA and USA is the first to shut down a company (most times) and it poses problems for the company and other governments.
So instead of having to deal with USA shutting them down they just don’t do business there and look for money elsewhere.
Ok So Is It A Scam?
I’m just going to say this.
I would never join a company like this and there are many red flags so you can decide for yourself if it’s something you like or not.
At the end of the day we all need to make our own decisions.
Hope you enjoyed my Gelios Trade Review if you have any questions, comments or concerns feel free to leave in the comments below.
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