Geetle Review | Does a bunch of positive reviews means it is not a Scam?

Here we have another unclear broker, Geetle, with a bunch of positive reviews on the internet. There’s no doubt that it’s a scam, as neither a license, foundation date, business model, nor management names are specified on the official website. Besides, the company has other red flags. In short, the fraudulent activity of anonymous scammers is obvious, and if you want to see the evidence, you are welcome.

Highlights

First Impression of Geetle.com

The official website is the business card of any broker. Geetle tells us about the benefits and merits available to any client who chooses this firm. However, this information is presented without evidence, and taking it at face value on the internet is not a very wise idea.

The top part of the resource features the main sections with trading conditions, information about the firm, contacts, and legal documents. There is also a button for switching languages (only Turkish is supported, apart from English), login, and registration.

Upon entering the website, we are greeted by a person in a suit with logos of Bitcoin, Tesla, Japanese candles, and other elements of financial markets. Next to it is a motivational phrase that looks very clichéd. Geetle then introduces us to the conditions and advantages, such as the size of the leverage and the number of available assets for trading. Visitors can also learn about the types of instruments available, the platform, and how to start cooperation.

Partnership and Bonuses

The website does not mention anything about an affiliate program or bonuses. However, we found hints and mentions of these options in Geetle. Bonus promotions are mentioned three times in the user agreement document, but detailed conditions are not disclosed. Hints of an affiliate program can be found at the account registration stage, where a referral code is required.

This raises the question – why does the broker not disclose the conditions regarding the affiliate program and bonuses? What’s the reason for such opacity and secrecy?

Account Opening on Geetle.com

Next, let’s look at how users can register an account and what the personal account looks like. Geetle offers a fairly comprehensive registration process, where clients need to specify not only their contact details and password but also their name, country of residence, and detailed address. Why? Doesn’t it seem easier to specify such details at the moment of identity verification, where documents proving identity are immediately attached? Such a lengthy account creation process may deter potential traders.

The time spent filling in all the data turned out to be in vain, as we were unable to create an account. After submitting the request, we encountered an error: “Your request has failed to go through”.

This means that it is simply impossible to register a personal account. Do you know what this implies? We’ll give you a hint. Many scam brokerage companies act in the same way; they do not allow freely creating an account. The reason for this is hard to guess.

Verification

Alas, we cannot describe the identity verification process in detail, as we do not have access to the client portal, so it’s unclear whether it’s convenient to upload documents or not. Geetle provides two documents describing AML & KYC, from which it can be concluded that the KYC procedure here is mandatory.

The verification is standard. It is sufficient to provide three types of documents: proof of identity, proof of residence, and a photo/scan of a bank card. More details can be found in the KYC policy.

Trading Software

Learning about the platform is only possible from the description on the official website, as registering an account is not possible, so we cannot see for ourselves what the terminal looks like and what features it has.

The broker assures us that their platform works not only on computers but also on Android/iOS mobile phones. However, download links are only available to registered users. Okay, let’s assume that’s true.

The broker promises fast order execution and tools for technical and graphical analysis. The platform description is very sparse and does not reveal important details: types of orders, the availability of auto-trading functions, and much more. Is the terminal suitable for serious trading? Unlikely. Since even a demo account is absent, testing the software is simply impossible.

How Can I Trade With Geetle?

Traders gain access to over 2,000 CFDs: forex, metals, indices, commodities, stocks, and cryptocurrency. Additionally, the broker allows the use of leverage to increase the size of trading positions, but no higher than 1:400. By the way, such a leverage parameter suggests a lack of compliance with the main regulatory requirements, but we will discuss this later.

To evaluate trading conditions, it’s necessary to examine the types of accounts, as much depends on this. Let’s do that.

All Info About Accounts

So, the company offers clients 6 types of accounts, including an Islamic option where swaps are absent. The broker adheres to the principle of “want more services – pay more money”:

1. Beginner. The minimum deposit is $2,500. Presumably, this tariff is intended for novices, but judging by the size of the initial deposit, this is hard to believe. Clients receive basic market access, analytical materials, one-click trading, and daily analysis.
2. Standard. The minimum deposit is twice as high – $5,000. Meanwhile, Standard only differs from Beginner by one service – special market coverage. The conditions, of course, are not disclosed. There’s even no description of what this option includes.
3. Intermediate. At least $25,000. This account type allows trading strategies. So, was it not allowed before?
4. Advanced. From $50,000. Only with such a huge deposit do traders get full market access. Also, special event invitations.
5. Integral. From $100,000 and more. Private instant support.
6. VIP. At least $250,000. VIP personal manager.

The company cannot be called customer-oriented for various reasons. Firstly, the huge minimum deposit, while it’s worth reminding that there is no demo account at all. Traders need to invest $2,500 or more just to test the service. Who would risk such a significant amount? The FAQ section states you can start with $500, but this seems to be misinformation since the first account type starts at $2,500.

In general, many details simply remain shrouded in mystery. The company does not disclose important trading conditions. However, it’s only known that the firm clearly tries to extract as much money as possible from users, offering better service for more money. A typical marketing move that fraudulent organizations love.

Market Analysis and Education With Geetle.com

In addition to the services described in the tariff plans, the firm offers several additional options. Users can access data on expiration dates, but the number of contracts is laughable, only 28 instruments. Moreover, one can use the economic events calendar, receive financial news and analytics, and keep track of the trading hours of the major stock exchanges.

Links to social media accounts are listed on the website. Typically, brokerage firms post analytics, news, and updates on social media, but the company shows activity only on X (formerly Twitter).

Deposit, Withdrawal, and Fees

The convenience of depositing and withdrawing funds plays an important role for clients. No one wants to wait weeks to withdraw their money, nor do they want to pay extra commissions. In this regard, Geetle looks quite ambiguous.

The broker supports popular methods for transferring money:

• Bank cards.
• Bank wire transfers.
• Crypto.

How Can I Contact It?

Clients can contact managers using the main methods: telephone and email. Additionally, there is an option to send a message through a special feedback form or reach out via online chat, but somehow they do not respond. We tried to contact Geetle’s support staff to find out what the problem with account registration was, but we couldn’t get through.

There are almost no followers on social media. Only 24 followers are subscribed to the account on X, who are likely bots.

Is Geetle Dangerous?

The first serious red flag we noticed was the impossibility of registering an account without resorting to the help of managers. We have encountered this approach before, exclusively with fraudulent brokers. The platform also offers absolutely unprofitable trading conditions and does not disclose important ones. However, let’s not rush to a final conclusion and check how long this platform has existed and whether it has any licenses at all.

How Long Does The Broker Work?

The launch date of the platform is interesting. It is not specified on the website, but we can approximately understand when Geetle was founded thanks to the domain. It was registered back in 2020.

Snapshots from WebArchive showed us that by 2022, the site already had a similar design to what we see now. Unfortunately, snapshots for 2021 are missing. The first reviews started appearing in 2023. In general, it’s quite difficult to determine the exact founding date of the firm.

How Is Geetle Regulated?

According to ‌information on the official website, the company is based in Taiwan. However, we did not find such an organization in the FSC Taiwan registry.

However, we found a company named Geetle elsewhere – in Saint Vincent and the Grenadines. The legal entity was registered with SVGFSA in 2023. Does it belong to the hero of our review? We do not know.

What we do know is that the broker does not have a license. So, its operations are illegal.

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Expert Opinion

It’s evident that positive reviews about Geetle are purchased. Who in their right mind would invest money in a brokerage company without a solid track record, no license and insurance, no offices in several jurisdictions, and with a conflict of interest? Moreover, how could these commentators register an account if it’s impossible? In general, do not believe the words of scammers who want to deceive you and take your money. Trade only with verified organizations that have extensive experience and all necessary licenses.