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Rating Index

Pros

High leverage options up to 1:500, allowing traders to control larger positions with less capital.

Multiple account types available, catering to different trading styles and experience levels.

Responsive customer support with various channels available for assistance.

Cons

Lack of valid regulation raises concerns about safety and trustworthiness.

Reports of withdrawal issues and potential scams, leading to significant risk for traders.

Absence of a demo account for practice, limiting new traders' ability to familiarize themselves with the platform before committing real funds.

Geo Markets broker Accounts

Geo Markets Account Type

Geo Markets offers a range of trading account types tailored to different trader profiles, including:

Standard Account

Best for: Casual traders.
Minimum Deposit: $200.
Spread: From 1.0 pips.
Commissions: None.
Markets Offered: Access to over 600 assets, including forex pairs, indices, commodities, shares, and cryptocurrencies.
Leverage: Up to 1:500.
Platforms: MetaTrader 4 and MetaTrader 5.
Special Features: VPS available for $10/month or free with a trading volume of 10 lots in a month.

Go Plus+ Account

Best for: Algorithmic and high-volume traders.
Minimum Deposit: $200.
Spread: From 0.0 pips.
Commissions: $3.00 per side on a standard lot.
Markets Offered: Similar to the Standard Account.
Leverage: Up to 1:500.
Platforms: MetaTrader 4 and MetaTrader 5.
Special Features: Access to advanced trading tools and features.

Pro Account

Best for: Experienced traders and institutional clients.
Minimum Deposit: $3,000.
Spread: From 0.0 pips.
Commissions: $7 per lot on forex and metals; $2 per lot on commodities and indices.
Leverage: Up to 1:300.
Platforms: MetaTrader 4 and MetaTrader 5.
Special Features: Dedicated account manager and priority customer support.

Islamic Account

Best for: Traders adhering to sharia law.
Features: Operates without swap fees or interest on overnight positions.

Demo Account

Best for: Beginners wanting to practice trading.
Features: Simulated trading environment with virtual money; no expiration.

Geo Markets Broker Account Opening Process

Opening an account with Geo Markets is straightforward and can be completed online in just one day. The steps include:

Registration: Visit the Geo Markets website and fill out the registration form.
Personal Data: Provide personal information such as name, email, phone number, and country of residence.
Account Type Selection: Choose the account type that suits your trading needs (Standard, Go Plus+, Pro, or Demo).
Identity Verification: Upload documents to verify your identity, such as:

Proof of Identity: Passport, driver's license, or identity card.
Proof of Address: Recent utility bill or bank statement not older than 3 months.

Trading Preferences: Answer a trading experience survey and add your trading preferences.
Funding: Fund your account using various methods (credit/debit card, bank transfer, etc.) to start trading.

The minimum deposit required to activate a live trading account is $200, and there are no internal fees for deposits or withdrawals, although third-party processing fees may apply.