The first thing that pops up in relation to the Gemini trading platform is that it was created by a couple of New Yorkers by the names of Cameron and Tyler Winkelvoss back in 2015. These guys are known as the creators of quite a successful and established company based in NYC. And as you know, the US market is one of the toughest when it comes to regulation. This is why it’s astonishing how Gemini managed to sustain in the trading community for so long without getting blacklisted and shut down.
The name Gemini brings an allure of luxury, success, and even a little mystery. These were my first thoughts when I first stumbled upon their page. However, as more time passed, I’ve realized the sad truth - Gemini is a name that is pretty fitting for a platform that is so two-faced. No matter how many times I tried (and trust me, I really did) to give it a chance, Gemini failed me time and time again. The poorly designed platform, ridiculous withdrawal fees, and suspicious customer support team are just some of the many flaws that are hidden behind the Gemini scam.
Platform and Execution SCORE: 31%
Gemini platform prides itself on being a platform for both first-timers and advanced clients. However, when I dug a little deeper into it I realized that they are just another flared New York pretentious company that aims to get rich fast without minding for the consequences. They are so clearly focused on scoring big clients such as sultry investors and hedge funds, that they are missing the entire point of the trading community and its inclusivity.
The design of the platform clearly proves my statement. It is designed in a way that you will get completely lost between the numbers unless you’ve been in this game for at least a couple of years. This is a huge downside in my book. I remember myself when I first started out, and a platform like this would just terrify me and discourage me from even trying. Now, however, it just makes me mad and disgusted.
Withdrawal Speed SCORE: 17%
When it comes to withdrawals, I was pretty taken aback by the fact that this platform requires different commissions and fees based on the amount on your account. Now, this wouldn’t be so bad alone, but the fact that the fees are increasing with the number of funds is simply outrageous!
In addition, Gemini has this feature where they apply different fees based on the trading volume. Meaning, the fees could change several times a day! What the hell? This is a highly scamming practice if you ask me, and it is quite off-putting when you think about it. Not to mention that there are no special offers or reduced fees on bigger amounts, as most of the reputable companies give for their clients.
Support and Assistance SCORE: 25%
For a company that hides most of its essential information, it was quite surprising to me that they had a pretty extensive and detailed how-to page. However, with Gemini, nothing comes without strings attached. And so, the main reason why they created this useful page is that it is practically impossible to reach their customer support when you need them.
I remember one time when I needed urgent help with my funds which were drained despite me not even trading for a few days. I tried reaching them through the phone, e-mail, and even the live chat option, which is the most hectic one. No dice! In the end, I redirected my attention to the website. After several hours of searching, I found a few sentences written in impossibly small font, saying that I got fined for my inactivity! Gemini is such a scam!
Education and Tools SCORE: 14%
Despite having a pretty advanced trading platform, Gemini doesn’t seem to take into consideration that there is a fair amount of beginners out there in the world. The educational section seems to be missing completely, which makes me think that they kind of expect you to be an established trader when you get to this platform.
This is a huge blind spot for Gemini, which strips them off of many opportunities within the trading community. By keeping their operations complicated and advanced, they are missing out on the entire group of eager beginners on the market. But after I’ve seen it, maybe it’s a good thing. At least they won’t get shamelessly scammed by the Gemini.