About Genesis
Overview
Genesis is a New Zealand-registered entity (registration date: October 12, 2020) operating under the domain genesis-fx.com. According to its official records, the company describes itself as a cryptocurrency trading platform, but its website presents a high-yield investment program (HYIP) with fixed-return plans. The platform does not hold any known regulatory licenses, which is a significant factor for traders to consider.
The broker's offering appears to target individuals seeking quick, high returns through investment plans rather than traditional trading. The lack of regulatory oversight and the nature of the returns raise caution among industry analysts.
Company Background
Genesis was founded in 2020 and is registered in New Zealand. No details about the company's ownership or management team are publicly available. The company's official address or physical presence is not disclosed on its website, which is common among HYIP schemes.
The broker's registration in New Zealand does not imply regulatory oversight, as New Zealand does not require forex or crypto brokers to be licensed by the Financial Markets Authority (FMA) unless they offer financial services. Genesis does not appear on the FMA's register of financial service providers.
Regulation and Security
Our research confirms that Genesis has no regulatory licenses from any recognized financial authority. The broker is not regulated by the FMA, ASIC, FCA, CySEC, or any other tier-1 or tier-2 regulator. This absence of oversight means there is no external protection for client funds or recourse in case of disputes.
For traders, dealing with an unregulated entity carries elevated risk, especially when the business model involves promising high fixed returns. The FXCanary Scam Risk Score of 75/100 (Severe) reflects this lack of regulation and the concerning nature of the investment plans.
Account Types and Platforms
Genesis does not offer traditional trading accounts such as standard, mini, or Islamic accounts. Instead, it provides investment plans categorized by investment amount and fixed return periods. The plans range from $100 to $5,000,000, with returns from 12% after 24 hours up to 160% after 5 days.
No information is available about trading platforms like MetaTrader 4/5, cTrader, or proprietary software. The website does not mention any leverage, spreads, or trading instruments beyond the investment plans. This suggests that the platform is not a trading venue but an investment scheme.
Deposits and Withdrawals
The broker does not specify accepted payment methods on its website. Common HYIP schemes accept cryptocurrencies (Bitcoin, Ethereum, etc.) for deposits, but Genesis does not clarify this. Withdrawal processes are also not detailed; profits are said to be withdrawable anytime, but the methods and timelines are undefined.
The lack of transparent deposit and withdrawal information is a red flag. Legitimate brokers provide clear fee schedules and processing times, which Genesis fails to do.
Customer Support and Education
The website offers minimal customer support information. There is no live chat, phone number, or email address displayed. The only contact method appears to be a generic contact form or possibly email, but it is not prominently featured.
No educational resources, webinars, or market analysis are provided. The site focuses entirely on promoting the investment plans without any tools to help users understand the risks or the underlying market.
Overview compiled by FXCanary from regulatory records and public data. full Genesis review