Genesis Markets: Forex Copy Trading
Everything flows, everything changes — that statement is also very true for our products as they are constantly changing and evolving.
Today we took an extremely important step for our own very Genesis Markets brokerage.
Through a partnership with B2Broker, we’re ready to offer their liquidity to our clients. B2Broker held an ICO around the same time as Genesis Vision did. Their goal was to aggregate crypto and traditional financial markets liquidity and offer it to institutional clients. Now you can try and leverage their service through Genesis Markets.
There are two main reasons why this is a big deal for Genesis Markets:
- Experienced GM traders who previously had access to crypto spot market only can now access Forex, Spot Metals, Indices, Spot Commodities and Shares of companies from different countries.
- Less experienced traders and investors now have the ability to copy trades of successful signal providers, using all available instruments through our new product GV Follow.
Like the social trading platform Genesis Vision, Genesis Markets was created with the idea of bringing complete transparency — we’re ready to carry it over to the traditional financial markets operations. We directly disclose our liquidity providers. We offer direct access to the exchange order book. We allow you to see your limit order moments after you enter it in the trading platform and be 100% sure of its execution price. Genesis Markets provides a tight integration with our social trading platform, which stores all trades in real time and guarantees transparency and their immutability.
Our team was always passionate about the technology. We believe that the guarantees of transparency on a technological level is a key competitive advantage in an otherwise very murky modern financial market.
Trading conditions and assets
You can find detailed trading conditions and fees on the “Trading fees on GM & GM Global” tab in the platform.
https://genesis.vision/fees
Please note that GVT holders discounts (30% — 55%) are applicable.
The full list of new instruments and their margin requirements can be found in the B2Broker specification document here.
https://docs.google.com/spreadsheets/d/1kxdxtEBTGwtAiOqCIociDM9T_ZWMRSuGvDVtCzkqrTc/edit#gid=0
Create an Account type “Global” on Genesis Markets to start trading, or simply migrate your existing program.
Creating GM Global Account.
Go to Trading from the Dashboard menu
Click “Create account”
Choose “Genesis Markets” broker and click Continue
Choose Account Type Global and your preferred account currency (USD or BTC)
After you created the account on the web site, your trading account credential will be sent to your email.
You can trade using any of the following terminals:
- Desktop terminal (Windows) https://download.mql5.com/cdn/web/11830/mt5/genesismarketslp5setup.exe
- Web platform https://genesis.vision/trade/mt5
- Android application https://play.google.com/store/apps/details?id=net.metaquotes.metatrader5
- IOS application https://itunes.apple.com/app/metatrader-5-forex-stocks/id413251709
Migrating your existing program to Genesis Markets Global
If you have a program with USD/BTC base currency, you can migrate it to Genesis Markets Global, saving your investors and Trading History.
After clicking “Change Broker”, an application for changing brokerage will be created.
As soon as your next reporting period ends, your account will be transitioned into Genesis Markets Global. Please note that the reporting period can be closed earlier by clicking the “Close Period” button in the account settings.
Creating program in Genesis Markets Global
To become visible for all investors and start attracting funds for management, you need to turn your existing trading account into a Program. To do this, go to Trading and select the desired account in the Private section. In the card’s menu click “Make program”.
Configure the Program settings
Once you complete the Program creation process, it will appear in the list
https://genesis.vision/invest/programs
Creation of Follow account in Genesis Markets Global
In order to allow other traders and investors to follow your trading strategy and copy your trades, go to Trading and select the desired account in the Private section. In the card’s menu click “Make signal account”
Once you complete the Follow account process, it will appear in the list
https://genesis.vision/invest/follow
Copying trades from Follow accounts
In order to copy trades from Follow Genesis Markets accounts, you need to create a GM Global account and subscribe to one or more traders.
Here are the ways you can follow a signal provider:
By balance
The volume of the opened positions is proportional to the balance of the signal provider (For example, let’s say that the balance of the manager is 100 USD and he opens positions with a volume of 10 USD. In the scenario described, an investor that has a balance of 50 USD will have a volume of 5 USD).
Percentage
Positions are opened according to the portion of the volume of positions opened by the signal provider.
Fixed
Each new position is opened at a fixed amount.
And here is how you can unfollow a manager:
Close only
New trades do not open; open positions are closed as the manager closes them.
Close all immediately
Instant closing of all open positions.
Manual closing
An investor can perform a manual closing of any of the open positions at any time.
In addition, you need to specify the tolerance percentage — the maximum possible deviation in the price of the transaction, ranging from 0% to 20%. Why would you need a tolerance percentage? If you put 0% tolerance percentage, the transaction will open at precisely the same price as that of the signal provider for the selected type of subscription.
But the financial markets are known for their volatility, and the price can change in the span of a fraction of a second. If the price at the time of opening is different, the transaction will not commence. Incorporating tolerance percentage gives a little more air to the price of the transaction so that it would open even if the current price is slightly different.
Please note:
- If the provider opens a position, and the subscriber does not have enough funds to open precisely the same amount, then the Subscriber trade will not be executed.
- If the calculated lot volume is less than the minimum lot volume for this symbol, then the Subscriber trade will not be executed.
- Payment fees are carried out with a GVT wallet. If the GVT on the wallet runs out — copying of trades will stop.
Copy trading fees
Fees set by the manager:
The signal success fee:
It is set by the manager when creating the program. It is calculated according to the High-Water Mark.
Range: 0 ≤ Success Fee ≤ 50.
Volume Fee:
The commission for the volume is charged for opening a transaction.
Range: 0% ≤ Volume Fee ≤ 30%.
If the signal provider sets up the Volume Fee as 10% and the fee for 100,000 USD on Forex is equal to 6 USD, than the Volume Fee will be 60 cents for each 100,000 copied USD on Forex symbols
GV Commissions:
Trading Fee (commission for trading)
You can find trading fees here https://genesis.vision/fees
Platform Success Fee
Range: 0 ≤ Platform Success Fee ≤ 10.
It is charged only from profits using the High-water mark method.
We remind you that the commission percentage is reduced by 1% for every 1 000 GVTs in the GVT wallet (at the time of debiting). If you have 10 000 GVTs in your wallet, the Platform Success Fee is not charged. As a reminder, 30% of the success fees collected by Genesis Vision will go towards buying out and burning the token — this will ultimately result in lowering the supply of the token.
Thanks for reading, Visioners! Genesis Vision platform continues it’s non-stop development. The next big step is the introduction of Demo accounts, planned for 22th of January. Demo accounts allow users to try trading and check trading conditions without any financial risks and limitations.
