Geminiltdfx – Can You Trust Them?
Stop! It’s a Scam! Your money is not safe if you are trading with this unregulated, off-shore broker.
Geminiltdfx - DO NOT TRADE WITH THIS PROVIDER
2.3/10
$100
Minimum Depositupdated 2023
The details for opening trading accounts are not indicated on the broker’s website. In order to register with this broker, you only need to go to their sign-up page where you’ll be asked to enter your name, email address, phone number, and password. You’ll also be asked to accept their Terms and Conditions and confirm that you’re over 18 years of age. After this, the trading platform will be made available for you and you can start trading using their demo account.
Try these regulated brokers if you want to start trading cryptocurrencies
82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money
Plus500 is a FTSE 250 listed brokerage providing online trading services in CFDs, across 2,000+ securities and multiple asset classes.
Website URL: https://geminiltdfx.com
Founded: 2021
Regulations: Lack of Regulation
Languages: English, Google Translate
Deposit Methods: PayPal, Credit Card, Bitcoin
Minimum Deposit: $100
Free Demo Account: Not Available
Number of Assets: Not Specified
Types of Assets: Digital Currencies, Fiat Currencies
Trading Accounts and Conditions
Geminiltdfx does not have any trading accounts to offer their clients. You are offered investment plans instead. Here is what you get:
- Plan A Starter Plan: The investment range is from $100 to $1000. Clients are promised a 35% ROI.
- Plan B Premium Plan: The investment range is from $1000 to $10000. Clients are promised a 50% ROI.
- Plan C Deluxe Plan: The investment range is from $10000 to $100000. Clients are promised a 70% ROI.
- Plan D Exclusive Plan: The investment range starts from $100000. There is no upper limit to this investment plan. Clients are promised an 85% ROI.
There is no clarity provided on this broker’s trading conditions.
Geminiltdfx – Advantages
There are no advantages to trading with Geminiltdfx.
Geminiltdfx – Disadvantages
Given below is the list of all the issues we have found with Geminiltdfx. All of these issues clearly tell us that we are dealing with a scammer:
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No Regulation
The first thing which tells us that things are not right with Geminiltdfx is their lack of regulation.
On their website, this broker has listed a UK address. However, the telephone number provided has a US country code. And the email address is a generic Gmail address.
Now, if a broker is offering their services in the UK and the US, then they need to be authorized to do so by the Financial Conduct Authority, the National Futures Association and the Commodity Futures Trading Commission. The first authority regulates brokers in the UK. The second two authorities control the brokers in the US. Without these authorizations, brokers cannot function legally in either the UK or the US.
We checked the online records of all three authorities and we found out that Geminiltdfx is not registered with any one of the three regulators. Therefore, this broker is not regulated and is operating illegally, which makes them a scammer.
82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money
Plus500 is a FTSE 250 listed brokerage providing online trading services in CFDs, across 2,000+ securities and multiple asset classes.
The company was created as a combined effort of financial professionals and experts in web-commerce with the goal of perfecting the online experience for retail traders.
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Blacklisted by CNMV
Interestingly, while we were investigating this broker’s regulation status, we found out that one of the top regulators in the European Union, the Comisión Nacional del Mercado de Valores, also called the CNMV, has actually blacklisted Geminiltdfx.
According to the warning issued by the CNMV, this broker is operating in their country without permission, i.e., illegally. The regulator has also blocked Geminiltdfx from their jurisdiction and has warned their citizens against dealing with this broker.
Such a warning clearly tells us that this broker is a scammer.
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No Legal Documents
Geminiltdfx has a link on their website that seems to be for their legal documents – the Terms of Service link. Here, we were expecting to find their detailed legal documents, defining clearly their terms of service, privacy policies, AML policies and so on.
What we saw instead was a 4 or 5 paragraph document filled with generalities that have little to do with real terms of service. In essence, this broker doesn’t really have any legal documents at all.
This is another scam tactic. A scammer relies on our carelessness in not checking for legal documents. The problem is that if we sign up with a broker without checking for legal documents, we can very easily get scammed. In fact, this is how many novice traders do get scammed; they sign up with brokers/scammers who have no legal documents in place. This allows those entities to do what they wish with the victims’ money and information.
This is the reason why it is so important to read through legal documents and be aware of what you are getting from a broker before you sign up with them.
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No Trading Platform
While Geminiltdfx claims to offer a top-of-the-line trading platform, they forget to mention which software they offer. This is a clear red flag. Regulated brokers make a big deal out of their trading software since it is their only product offering. They advertise their platform loudly on their websites and they also offer their clients and prospective clients a free demo account where they can test the broker’s platform (and their trading conditions) in a safe environment.
None of these facilities are available with Geminiltdfx. The broker doesn’t tell us what trading platform they have. And when we checked, we found out why. This broker has no trading platform. It looks like a platform, but it is actually just a bunch of market trend charts imported from TradingView.com.
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No Trading Conditions
Regulated brokers advertise their trading conditions as loudly as they do their trading platform. This is the service a broker provides that goes hand-in-hand with their trading platform. So, they make a big deal out of it.
With Geminiltdfx we get nothing – another red flag. We are told nothing about any of their trading conditions – except for the deposit amounts. This lack of trading conditions is another clear indication that we are dealing with a scammer.
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Profits Promised
Geminiltdfx promises their clients profits. This is a massive red flag of a scam. If any broker promises you a profit, take it for granted that they are out to scam you. The forex and crypto markets are so volatile that losses are more certain than profits. So, no broker can make such a promise!
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Single Payment Method
On their website, Geminiltdfx shows us the logos of multiple payment providers, so we think that they offer multiple payment methods. However, we found out that this broker offers only one – Bitcoin. Bitcoin payments (in fact, all crypto payments) are anonymous and permanent. So if that is the only payment option and you get scammed, there is no way you will ever be able to retrieve your funds.
Conclusion
Geminiltdfx is another scammer that needs to be avoided. They cannot be trusted at all.
Geminiltdfx
Pros
- None
Cons
- No Regulation
- Blacklisted by CNMV
- No Legal Documents
- No Trading Conditions
- Profits Promised
Do not trade with unregulated brokers that will steal your funds - try these regulated brokers:
82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money
Plus500 is a FTSE 250 listed brokerage providing online trading services in CFDs, across 2,000+ securities and multiple asset classes.
The company was created as a combined effort of financial professionals and experts in web-commerce with the goal of perfecting the online experience for retail traders.
eToro is a multi-asset platform which offers CFD and non CFD products. 74% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.