GeminiCap-Overview of Minimum Deposit, Leverage, Spreads

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.