What Account Types and Fees Does Genesis Offer?
| Account Type |
Target User Group |
Essential Characteristics |
Applicability Notes |
| Retail Account |
Beginners and intermediate traders |
Low spreads, user-friendly interface |
Suitable for small-capital practice |
| Professional Account |
Experienced traders |
Higher leverage, lower spreads |
Requires trading volume qualifications |
| Corporate Account |
Corporate clients |
Customized services, dedicated account manager |
Requires corporate documentation |
| Islamic Account |
Traders requiring Sharia-compliant options |
Swap-free trading conditions |
Available for all trading strategies |
| Demo Account |
All types of traders |
Practice trading without risk |
Unlimited access for practice trading |
Account Opening Process
To open an account with Genesis, traders need to follow a streamlined process that involves several key steps. First, personal information such as name, address, and contact details must be submitted. Next, employment information, including job title and employer details, is required. Following that, financial information, such as income and net worth, will need to be disclosed. An important part of the process is identity verification, which requires submitting valid identification documents (e.g., passport or ID card) and proof of address (e.g., utility bill or bank statement). Genesis offers flexibility in account types, allowing traders to upgrade to a professional account later if they meet the necessary qualifications.
Trading Fees
| Product |
Spread (pips) |
Commission |
Notes |
| Forex (EUR/USD) |
0.8 |
$0 (ECN: $3.5/lot) |
Tight spreads for majors |
| Forex (GBP/USD) |
1.0 |
$0 (ECN: $3.5/lot) |
Competitive spreads for minors |
| CFDs (Stocks) |
0.1% |
$5 per lot |
Varied spreads based on liquidity |
| CFDs (Indices) |
0.5% |
$3 per lot |
Low fees on major indices |
| CFDs (Commodities) |
0.2% |
$4 per lot |
Market-dependent spreads |
| Cryptos (BTC/USD) |
1.0% |
0.1% |
Variable depending on volatility |
Other Fees
Traders should also be aware of several other fees that may apply when trading with Genesis. These include deposit and withdrawal fees, which can vary based on the payment method used. Inactivity fees may be charged if an account remains dormant for an extended period. Additionally, there could be platform usage fees for advanced trading tools or features. Overnight interest, also known as swap rates, may apply for positions held overnight. Finally, currency conversion fees may be incurred for transactions involving different currencies.
