Geetle

Investigating Geetle: A Comprehensive Review

Geetle is a CFD broker widely advertising its own advantages. Customers are promised access to 2000+ instruments, comfortable trading conditions, and fast order execution, along with quality service. However, we suspect that all those who dared to fund their accounts with this company will lose their money forever. What’s wrong with the platform, and why we wouldn’t recommend dealing with this scam, is detailed in the review below.

Overview of Geetle

To assess the broker’s integrity and prospects for collaboration, traders need to carefully study information about it. It’s considered that one should start with the official website. We also adhere to these recommendations, and for starters, let’s consider the information published by Geetle on its pages.

Broker History

First and foremost, we are always interested in the company’s history. It contains a significant amount of useful information, which allows us to judge the team’s capabilities and prospects for working with them. Moreover, publication of this data significantly influences the broker’s reputation.

The owners of Geetle have decided that this approach does not suit them. They have not provided any information about the broker’s history or achievements on their pages. They have even chosen not to display statistical data. Of course, it is not difficult for us to find all the necessary information from third-party sources. However, we fail to understand why they chose to conceal it? Such an approach raises questions about the transparency of the broker’s operations and generates a cautious attitude towards it.

Geetle.com Website

The acquaintance with the broker’s official website left a mixed impression. On the one hand, it looks attractive, primarily due to the successful choice of images and colors in the design. On the other hand, it’s relatively poor in terms of informational value, requiring further searching.

Consider the following:

• Geetle’s developers have provided no materials for “About” page, except for a vague repetition of trading advantages and a couple of sentences about the company’s goals and mission.
• There’s a lack of useful information on “Instruments” and “Platform” pages under the “Trading” section. The first page simply lists the asset groups available to Geetle traders, with their composition provided. However, there’s no description, let alone contract specifications. The second page primarily contains numerous links for software downloads, which lead not to download pages but to an authorization form.
• The “Research” section of the main menu is a masterpiece. It turns out that information about the expiration dates of futures contracts, trading schedules of global exchanges, market events, is nothing but “Research.” Meanwhile, Geetle’s “researchers” undoubtedly exerted almost all of their efforts by placing widgets and news created by others on their pages.

In short, the Geetle website is useless for attracting clients and was created by those who have no understanding of the broker’s operations and traders’ requirements. Such a creation is suitable only to indicate the company’s presence online. However, perhaps we are overly demanding, and it was created for this purpose exactly.

Registration Process and Personal Account

New clients of Geetle are offered to register within a few minutes. Indeed, the process is not so complicated, filling out a simple form does not require much time.

The following information needs to be entered.

• First and last name.
• Email.
• Date of birth.
• Country of residence twice (the second time to select the telephone code).
• Phone number.
• Full postal address.
• Account currency (choose from the list).
• Referral code (if available).

In addition, it’s mandatory to read and accept the text of several documents (Terms of Service Agreement, Risk Disclosure, Data Privacy Policy, AML and KYC Policies). Also, clients need to confirm that they are not a resident or tax resident of the USA and are ready to receive promotional emails and notifications from the broker.

It looks as if Geetle is a licensed broker and complies unquestioningly with the regulators’ requirements. However, this impression quickly fades as soon as one tries to register.

Firstly, there are minor issues with the form. For example, it’s impossible to enter the alphanumeric index of the United Kingdom.

Secondly, registration without a referral code is impossible. The question arises — are we trying to become clients of a broker or a financial pyramid? We will remind you that such actions are directly prohibited by all regulators, even offshore ones.

Thirdly, in a licensed company, registration can be completed independently. This cannot be done in Geetle. Regardless of the data entered, the user receives an error message.

The only option to complete registration with this broker is to contact customer support. Here, company representatives will resolve all issues — they will open an account and find out the amount the trader intends to deposit.

This approach is not new; it has long been widely used by fraudulent brokers. It’s at this stage that experienced traders are sifted out, who can easily expose the scammer. Preference is given to inexperienced newcomers who want to make quick and easy money without knowing anything about trading specifics. They make up the company’s main audience. How their cooperation with Geetle will end is clear without comments.

We failed to obtain an active account. This, of course, did not allow us to evaluate the organization and functionality of Geetle’s personal account. However, we doubt that its specialists have come up with something original here. Most likely, the client will be offered yet another standard solution, which scam brokers love so much.

Trading Platform

Geetle boasts its own trading platform on the website as if it were a breakthrough in trading software. Of course, the text advertises fast execution of client orders (less than 20 milliseconds), the ability to trade simultaneously on all markets, and virtually unlimited assets. It’s also noted that traders can use web, desktop, and mobile applications.

However, verifying the broker’s claims is not possible. Online versions of the platform or downloading client components to the user’s equipment can only be done after authorization. Since we don’t have an active account, we cannot do this.

There are several questions regarding Geetle’s programs.

• Why do the photos provided by the broker feature a terminal for binary options? Does the interface of the company’s own software look so unattractive that they had to use random screen captures instead of photographs of their own platform?
• Why are there such restrictions on downloading? What discoveries or significant flaws are Geetle specialists hiding?
• Why, with a full suite of software (desktop, mobile, web terminals), is a demo version not provided to users?
• Why are the programs not available in the Google Play Store and App Store? Perhaps they don’t meet the platforms’ requirements or have complaints against the developer?

Of course, Geetle is unlikely to answer these questions. That is why we suspect that its trading platform is not as good as it claims. Perhaps that’s why it is only offered to active clients, who will have to use the provided software after depositing funds.

Contacts

Here, the “Contact” page contains all the ways clients can contact the company’s customer support. There are quite a few of them:

• Feedback form.
• Email addresses services@geetle.com, documents@geetle.com.
• Phone number +18008400395.
• Online chat, which can be launched on any page of the website.

The footer of the pages also includes:

• The business address of the company: Spaces Hung Sheng IFC, 170 Nanjing East Road, TAIPEI 10488, Taiwan.
• Links to channels and groups on X (Twitter), Instagram, YouTube, Facebook.

Overall, it is not difficult for users to contact company representatives. However, there are still questions about the contact details provided:

• Why does the company’s phone number belong to North American countries with an address in Taiwan?
• Why does a broker whose official website is in English and Turkish have all Twitter posts in French?
• Why is there only one video on the YouTube channel, added a year ago? Does Geetle not have more reasons to produce videos?

Overall, everything looks typical for scammers: a phone number of uncertain origin, social media pages that nobody follows. It’s clear that all of this is only needed to meet certain standards. And for communicating with clients, a chat is quite sufficient for the broker.

Analysis of Services Offered by Geetle

After a cursory overview of the company’s services, it’s time to consider its offerings for traders. What conditions does Geetle offer to its clients?

Funding and Withdrawal

Regarding non-trading account operations such as funding and withdrawals, the broker only mentions them in the FAQ. However, it primarily discusses available payment methods, which include:

• Bank transfers.
• Credit and debit cards.
• Cryptocurrencies.

However, Geetle does not mention any details about transaction conditions, such as limits, fees, or fund processing times. Most likely, this information can be found in the client’s dashboard, but we still don’t have access to it.

Overall, it seems that the broker has not come up with anything original here. Like other scammers, it’s forced to hide its credentials from tax and financial authorities. Therefore, customers are likely to see only cryptocurrency transactions among the available options for depositing and withdrawing funds. Card transfers and bank transactions, if offered at all, may involve the use of drop accounts.

Geetle Trading Conditions

As for trading conditions, the broker attempts to publish some of them on almost every page. This includes the number of available assets (2000+) and the maximum leverage ratio (1:400). Other details, if available, can be found only on the account types page.

However, anyone hoping to find more information here would be greatly mistaken. In the list of account types, only the minimum deposit amounts are specified.

Geetle offers a total of 6 account types:

• Beginner with a deposit starting from $2,500.
• Standard with a deposit starting from $5,000.
• Intermediate with a deposit starting from $25,000.
• Advanced with a deposit starting from $50,000.
• Integral with a deposit starting from $100,000.
• VIP with a deposit starting from $250,000.

The broker does not disclose any other trading characteristics. Minimum position sizes and increments, stop-loss levels, and forced position closure thresholds must be determined by the trader during the trading process. This is associated with increased risk for Geetle’s clients. However, it seems the company is not overly concerned about this.

In other options, the broker managed to get away with only general phrases. For example, what lies behind offers like “Analytical Materials” or “Special Event Invitations” can only be guessed.

In summary, Geetle once again confirmed that it does not consider materials on the official website as a source of information for clients. Most likely, the conversation over the phone, when broker representatives invite novice traders, looks different. Published trading conditions serve more to confirm the fact that the company discloses the information required by regulators. However, it appears quite mediocre.

Is Geetle Trustworthy and Reliable?

We have almost no doubt that the company is organized by scammers and employs their methods of working with clients. To finally confirm this fact, only official information about Geetle needs to be verified.

Assessing Legitimacy

As mentioned earlier, the only address provided by the broker is located in Taiwan. We attempted to find information about the company in the registries of this state, but unfortunately, we were unable to do so. For instance, on the Ministry of Economic Affairs website, information about a company or business can only be obtained after entering the name in Chinese or the registration number. We don’t have either of these, and a search by the English name yielded no results.

Searching through aggregators, which have access to primary registries, is either not free or does not contain all records. At least, we did not find any information about Geetle LTD in them.

Suppose we assume that the company’s published business address in Taiwan is correct. This still does not indicate the legality of the company’s operations. For that, a license is also needed, which Geetle does not mention at all. We doubt that the broker has one. Therefore, we would not risk entrusting our money to them.

Established Track Record

Another step is to find out the date of the company’s establishment and the time it has been operating online. Since the broker did not provide us with such data, we turned to the services of whois. Here, we can precisely obtain the registration date of the platform’s domain and draw conclusions based on that.

According to the data obtained, the broker uses a domain registered as early as May 2020. However, checking web archive snapshots shows that the broker actually started operating online somewhat later — at the end of 2022, which aligns well with the date of the last modification.

Nevertheless, the company has been providing brokerage services for over a year. We still don’t understand how it managed to survive for so long without an official license.

Implications for Traders

In our opinion, trusting Geetle, registering with them through customer support, and sending money to their traders is not advisable. There’s a significant risk of losing money. This is indicated by the unresolved registration issue, the lack of an official license, and a considerable number of negative reviews. We would not risk our own funds and strongly advise others not to do so either.

Strengths and Weaknesses