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Generic Trade is a retail broker that has been operating since 1992 and offers futures and options trading via multiple trading platforms without the typical restrictions, such as minimum account balances and minimum volume requirements. They offer multiple account options and charge commission fees of $0.59 on trades. Clients also benefit from educational materials and a customer support team.
Generic Trade Platforms & Tools
The broker provides traders with multiple trading platforms, and they include:
- Generic Trader Professional: This is the broker’s flagship trading platform. It is packed with a myriad of useful features, including advanced trader, streaming news, account detail, order book, and trading matrix. The platform is available as a desktop application for Windows and Mac computers.
- Generic Trader Online: This is a web-platform that offers all the features of the desktop platform whilst requiring no downloads or installations. It runs directly on most modern web browsers and operating systems, including Google Chrome, Safari, Firefox, and Edge.
- Generic Trader Mobile: This is a mobile platform that narrows down the full functionality of the Generic Trader trading platform to the screens of mobile devices. The mobile app is designed for Android and iOS devices and can be downloaded from the respective app stores. It allows traders to manage accounts and place trades on the move they have an internet connection.
Generic Trade Research & Education
The broker’s website has an FAQ section that offers instant answers to clients’ most common questions.
Generic Trade Trading Accounts
The broker offers various trading account types; they are tailored to meet the individuals’ trading objectives and capital. They include Individual, Joint, Partnership, Corporate, Trust, and IRA. There is also the free demo account that allows traders to try out the broker’s platforms and practice risk-free trading with virtual funds before opening a real trading account.
Generic Trade Account Funding
The broker accepts the following payment methods as the available deposit and withdrawal options:
- Bank wire transfer
- Automated Clearing House (ACH) deposits
- Inter-account transfers
Some payment methods may not be available in some specific countries, whereas the transaction processing times may vary, depending on the payment method.
Generic Trade Customer Service
Generic Trade offers a client support team that is available 24/7 to respond to clients’ general, technical, or account-based inquiries. They can be reached via Live Chat and some social media channels: Facebook and Twitter.
Generic Trade Regulation
Generic Trade is registered with and regulated by the Commodity Futures Trading Commission (CFTC) and is a member of the National Futures Association (NFA).
Generic Trade Review Summary
Founded in the United States in 1992, Generic Trade is a regulated online trading broker that offers futures and options for online trading via sophisticated desktop, web, and mobile trading platforms. There are multiple account options that charge competitive commission fees without the common restrictions, such as minimum deposit and volume requirements. There are limited trading tools and educational materials on the broker’s website. However, there is an FAQ section that has answers to some common questions by clients.
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