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GeminiCap Forex broker specializes in providing foreign exchange trading services, the company's official website https://account.gemi..., the company's legitimate regulatory information BahamasSCBRetail Forex License to enhance the security of the company's address

GeminiCap Forex Broker

Basic Information

Registered Region
Bahamas
Operating Period
--
Company Name
Gemini Capital Markets
Abbreviation
GeminiCap
Company employee
--
Customer Service Email Address
cs@geminicap.com
Contact Number
+886 255996123
Keywords
5-10 years
Suspicious Regulatory License
Suspicious Scope of Business
High potential risk

Company profile

Note: Since GeminiCaps official site (https://www.geminicap.com/) is not accessible while writing this introduction, only a cursory understanding can be obtained from the Internet. General Information & Regulation GeminiCap, a trading name of Gemini Capital Markets LLC, is allegedly a suspected fake clone forex and CFD broker registered in the Bahamas that claims to provide its clients with a wide range of tradable assets with leverage up to 1:500 and variable spreads from 0.0 pips on the industry-standard MetaTrader4 trading platform, as well as a choice of three different account types. Market Instruments GeminiCap advertises that it offers numerous trading instruments, including 36 forex currency pairs, as well as CFDs on 13 indices, silver, gold, oil, natural gas and copper. Account Types There are three live trading accounts offered by GeminiCap, namely Standard, VIP and ECN. Opening a Standard account requires the minimum initial deposit amount of $500, while the other two account types have much higher minimum initial capital requirements of $1,000 and $10,000 respectively. Leverage A leverage ratio of up to 1:500 is offered by GeminiCap, which is much higher than that provided by most brokers. Inexperienced traders are advised not to use too much leverage since leverage magnifies gains and losses. Spreads GeminiCap claims that different account types can enjoy quite different spreads. For example, the clients on the Standard account can experience spreads from 2.2 pips, the VIP account with a minimum spread of 1.2 pips and the ECN account can enjoy raw spreads from 0.0 pips. As tested with a demo MT4 account for the EURUSD pair, the spread was floating around 2.3 pips. Trading Platform Available The platform available for trading at GeminiCap is one of the worlds most trusted and popular MetaTrader4 trading platform. Anyway, we recommend using MT4 or MT5 for your trading platform. Forex traders praise MetaTrader's stability and trustworthiness as the most popular forex trading platform. Expert Advisors, Algo trading, Complex indicators, and Strategy testers are some of the sophisticated trading tools available on this platform. There are currently 10,000+ trading apps available on the Metatrader marketplace that traders can use to improve their performance. By using the right mobile terminals, including iOS and Android devices, you can trade from anywhere and at any time through MT4 and MT5. Deposit & Withdrawal GeminiCap says to work with payment methods consisting of bank wire and Union Pay. The minimum deposit requirement is said to be $500. Bonuses GeminiCap claims to offer some bonuses. However, if you accept the 50% bonus, and you have deposited a minimum deposit amount of $500, you will have to trade no less than 7.5 million USD dollars before you will be allowed to withdraw. Customer Support GeminiCap‘s customer support can be reached by telephone: +886 255996123, +44 2038085001, email: cs@geminicap.com, support@geminicapital-global.com, gcmarketing@geminicapital-global.com. Besides, you can also follow this broker on some social media platforms such as Twitter and Facebook. However, this broker doesn’t disclose other more direct contact information like the company address that most brokers offer.

Rating Index

ECN Account

Minimum Deposit
$10,000

VIP Account

Minimum Deposit
$1000

  

GeminiCap Forex Broker - Complete Information Guide

  

1. Broker Overview

  GeminiCap, officially known as Gemini Capital Markets LLC, is a forex broker that has been operating for approximately 5 to 10 years. The company is registered in the Bahamas, which is known for its offshore financial services. While the exact founding date is not disclosed, the broker's domain was registered in 2014, indicating a substantial presence in the market since then.

  The broker primarily serves retail clients, offering a wide range of trading services and products. GeminiCap broker aims to provide an extensive selection of tradable assets, including forex, commodities, and indices. However, the broker's reputation has been marred by allegations of being a suspicious clone, with concerns raised regarding its regulatory status and operational transparency.

  The business model of GeminiCap focuses on retail forex trading, offering various account types tailored to different trader profiles. Despite its claims of extensive experience and a customer-first philosophy, the broker has faced scrutiny regarding its legitimacy and operational practices.

  

2. Regulatory and Compliance Information

  GeminiCap operates under the regulation of the Securities Commission of the Bahamas (SCB). The regulatory license number associated with the broker is SIA F-188. However, it is important to note that the broker has been labeled as a suspicious clone, raising concerns about the validity of its regulatory claims.

  The regulatory framework in the Bahamas allows for a relatively lenient operational environment, which some brokers exploit to operate without stringent oversight. The SCB oversees the activities of investment funds and securities, but the effectiveness of its regulatory measures has been questioned.

  GeminiCap's client fund segregation policies are not explicitly detailed in available sources, which raises concerns about the safety of client deposits. Furthermore, there is no information regarding participation in investor compensation funds, which adds another layer of risk for potential traders.

  The broker claims to adhere to Know Your Customer (KYC) and Anti-Money Laundering (AML) compliance measures, but the lack of transparency regarding these policies is a significant red flag for prospective clients.

  

3. Trading Products and Services

  GeminiCap advertises a diverse range of trading products, primarily focusing on forex trading. The broker offers 36 forex currency pairs, including major, minor, and some exotic pairs. Additionally, clients can trade Contracts for Difference (CFDs) on various indices, commodities like gold and silver, as well as energy products such as oil and natural gas.

  The broker claims to support a total of 13 indices and several commodities, providing a comprehensive trading environment. However, the frequency of product updates and the introduction of new trading instruments remain unclear, indicating a potential stagnation in product offerings.

  For retail traders, GeminiCap provides standard trading services, while institutional clients may have access to tailored solutions. However, there is no mention of white-label solutions or asset management services, which could limit its appeal to a broader client base.

  

4. Trading Platforms and Technology

  GeminiCap exclusively utilizes the MetaTrader 4 (MT4) trading platform, which is widely recognized as one of the most reliable platforms in the forex trading industry. The platform is known for its user-friendly interface, advanced charting tools, and support for automated trading through Expert Advisors (EAs).

  The broker does not appear to offer a proprietary trading platform, which may limit the customization options available to traders. The MT4 platform is accessible on desktop and mobile devices, allowing traders to manage their accounts on the go. However, there is no mention of support for the newer MetaTrader 5 (MT5) platform.

  GeminiCap operates on a market maker model, which means that it takes the opposite side of client trades. This execution model can create potential conflicts of interest, as the broker may profit from client losses.

  The broker claims to have robust technical infrastructure and server locations, but specific details regarding server locations and API access for automated trading are not provided.

  

5. Account Types and Trading Conditions

  GeminiCap offers three main account types:

  •   Standard Account: Requires a minimum deposit of $500, with spreads starting at 2.2 pips. This account type is suitable for novice traders.

  •   VIP Account: Requires a higher minimum deposit of $1,000, with spreads starting at 1.2 pips. This account is designed for more experienced traders looking for lower trading costs.

  •   ECN Account: Requires a substantial minimum deposit of $10,000, with spreads starting from 0.0 pips. This account type is aimed at professional traders who require direct market access.

  The leverage offered by the broker can go up to 1:500, which is significantly higher than many competitors. However, inexperienced traders are advised to exercise caution when using high leverage, as it can amplify both profits and losses.

  Minimum trade sizes start at 0.01 lots, allowing for flexible trading strategies. However, the policies regarding overnight fees and other trading costs are not clearly outlined, which may lead to unexpected expenses for traders.

  

6. Fund Management

  GeminiCap supports limited deposit methods, primarily focusing on bank wire transfers and UnionPay. The minimum deposit requirement varies by account type, with the standard account starting at $500.

  Deposit processing times are generally stated to be within a few business days, but specific timelines are not disclosed. The broker does not specify any deposit fees, but it is advisable for clients to check with their payment providers for any applicable charges.

  Withdrawal methods are similarly limited, with bank wire transfers being the primary option. The processing time for withdrawals is typically between 3 to 5 business days, but this can vary based on the broker's internal processing times.

  There is no clear information regarding withdrawal fees, which could potentially lead to additional costs for traders. The lack of transparency in the fund management process raises concerns about the overall reliability of the broker.

  

7. Customer Support and Educational Resources

  GeminiCap offers customer support through various channels, including telephone, email, and social media. The provided contact numbers are +886 255996123 and +44 2038085001, while the primary email address for inquiries is cs@geminicap.com.

  The broker claims to provide support in multiple languages, but specific languages supported are not listed. Customer service hours are also not clearly defined, which could affect traders seeking timely assistance.

  In terms of educational resources, GeminiCap appears to offer limited options. While some basic tutorials and guides may be available, there is a lack of comprehensive educational materials such as webinars, e-books, or in-depth market analysis.

  The broker does not seem to provide advanced trading tools such as calculators or signal services, which could hinder traders looking for additional support in their trading activities.

  

8. Regional Coverage and Restrictions

  GeminiCap primarily serves clients in the Bahamas and potentially other regions. However, the specific distribution of regional offices is not disclosed, which may limit transparency regarding its operational footprint.

  The broker does not accept clients from certain countries, including the United States, due to regulatory restrictions. It is crucial for potential clients to verify their eligibility before attempting to open an account.

  Special restrictions regarding the services offered in specific regions are not detailed, which could lead to confusion for prospective traders. Overall, the lack of clear regional policies may restrict the broker's ability to attract a diverse client base.

  In conclusion, while GeminiCap claims to provide a robust trading environment with a variety of products and services, potential clients should approach with caution due to the broker's questionable regulatory status and lack of transparency. As always, thorough research and due diligence are essential when selecting a forex broker.

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GeminiCap Forex Broker has an overall rating of 1.57, Regulatory Index 0.00, License Index 0.00, Business Index 7.47, Software Index 4.00 Risk Control Index 0.00.