Why A geostationary satellite sits in a circular orbit directly over the equator at about 35,786 km (22,236 miles) altitude, where the orbital period is exactly one sidereal day. Because it circles the Earth at the same rate the Earth turns, it stays over the same spot on the ground, so from your location it hangs at a fixed azimuth and elevation. That means a dish or beam can be aimed once and left there, with no tracking needed.
Watch out LEO satellites orbit only a few hundred kilometers up and race across the sky in minutes, requiring tracking, and HEO (high or highly elliptical orbit) birds move and change range over a long pass. Geomagnetic refers to the Earth's magnetic field, not an orbit at all.
Geo-stationary = stationary in the sky, 22,236 miles up over the equator, one orbit per day.