Globex360 deposit methods

Even if the allegations of funding problems are untrue, globex360вђ™s trading costs are unreasonably high and its forex education is poor.

Free forex bonuses

Globex360 Broker Review, globex360 deposit methods.

Even though globex360вђ™s minimum deposit is quite low at 100 USD, it does not publish its complete spreads and the only platform available is MT4.В we recommend choosing another broker from one of our lists:В

Globex360 broker review

Summary

We do not recommend globex360. Globex360 minimum deposits start at 100 USD, but trading costs are expensive. Spreads are wide, starting at 2 pips on the basic account. A large commission per trade is also charged on all accounts, which is unusual for a broker with such wide spreads. Full spreads are not published.

In addition, while globex 360 states that withdrawals are free, we have received multiple claims that deposits do not reflect to trading accounts and withdrawals do not reflect to bank accounts. Clients have also complained that customer service is extremely poor, or non-existent when it comes to funding issues.

Reviews

Account information

Trading conditions

Company details

Deposit & withdrawal methods

Supported platforms for globex360

Is globex360 safe?

Globex360 was founded in 2017 in johannesburg and has been regulated by the south african FSCA since 2019 under FSP #50130. The FSCA has brought in a new licence for south african brokers called the ODP licence, but it is unclear if globex360 has applied for this yet.

Globex360 is an STP broker and operates without a dealing desk вђ“ though trade execution on basic accounts is instant, insinuating an automated dealing desk of some kind. Standard and professional accounts are both market execution.В

Globex360 does not offer negative balance protection, stating that вђњnegative balance protection is not guaranteed. The general practice is that we cover the negative balance, but all cases are reviewed on a case-by-case basis.Вђќ

We have received many complaints from south african traders with a globex360 login regarding deposit and withdrawal issues. We cannot prove that any of these allegations are true, but traders should be very careful when choosing a forex broker.

Should I trade with globex360?

We do not recommend globex360.

Even if the allegations of funding problems are untrue, globex360вђ™s trading costs are unreasonably high and its forex education is poor. Even though globex360вђ™s minimum deposit is quite low at 100 USD, it does not publish its complete spreads and the only platform available is MT4.В

We recommend choosing another broker from one of our lists:В

We only recommend well-regulated, honest brokers with good trading conditions.В

Globex360

Risk warning: your capital is at risk. Cfds are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 58-89% of retail investor accounts lose money when trading cfds. You should consider whether you understand how cfds work and whether you can afford to take the high risk of losing your money. Please be advised that certain brokers, products, bonus and/or leverage may not be available for traders from some countries due to legal restrictions.

Alternatives

Forum, user reviews and feedbacks

Alternatives

Risk warning: investments involve a high level of risk. It is possible to lose all your capital. Cfds are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 58-89% of retail investor accounts lose money when trading cfds. You should consider whether you understand how cfds work and whether you can afford to take the high risk of losing your money.

The information on this site is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation and is not directed at residents of: belgium · france · japan · latvia · turkey · united states ·

Globex360 REVIEW 2020

Globex360 summary

Globex360 is an online trading provider that was founded in 2017, with a primary focus on the continent of africa.

Throughout the span of two years, it has become one of the leading online brokerage firms that accept clients from all over the world. Globex360 has a global presence in various geographical areas that allows them to offer their clients quality services and technical support.

Globex360 has financial partners that are based in south africa, kenya, botswana, nigeria, chile, and australia; they also registered with the companies and intellectual property commission in south africa.

This globex360 review is an in-depth analysis of everything there is to know about this forex trading services provider and what it has to offer.

Who is the founder and owner of globex360?

Global exchange 360 or globex360 for short, takes great pride in being the first black woman-owned forex broker in the world.

The broker was founded by nombuso mkhulise, who is considered to be one of the most accomplished women in the financial sector and the only black woman to own a brokerage firm. The down to earth founder and chief executive officer was born in diepkloof (soweto), johannesburg, with her grandmother after losing her mother at the very young age of 10. She has completed her civil engineering studies at the deutsche schule johannesburg (DSJ) with a bursary, thanks to her great academic achievements. She considers herself to be a seasoned CEO and that her company is ready to serve clients from all around the globe, hence the name “globex – global exchange.”

Mkhulise aims to challenge the status quo and invites more women to venture into what was considered a boys club for so long, in order to gain financial freedom.

Globex 360 main features
established in: 2017	headquarters: johannesburg
regulations: FSP under license no 50130	country of regulation: south africa
minimum deposit: $25	platforms: MT4, socialcopy trade
demo account available: yes	leverage: up to 1:500
withdrawal fee amount: 0$	inactivity fee: yes

Variety of trading instruments

Different types of trading accounts, according to traders’ experience

Regulated by the financial sector conduct authority in south africa, also known as (FSCA)

In accordance to the financial intelligence and anti-money laundering act 2002 (FIAMLA 2002), the prevention of corruption act 2002 (POCA 2002) and the prevention of terrorism act 2002 (POTA 2002)

Only provides MT4 trading platform

Does not accept clients from the US, canada and belgium

Withdrawal process is very very slow

Does not provide negative balance protection

Safety and regulation

Globex360 is regulated by the financial sector conduct authority in south africa, also known as (FSCA). They are also obligated to follow the guidelines of the financial intelligence and anti-money laundering act 2002 (FIAMLA 2002), as well as the prevention of corruption act 2002 (POCA 2002) and the prevention of terrorism act 2002 (POTA 2002).

Globex360 (PTY)LTD is authorized by the FSP under license no 50130; globex360 is the brand name of GLOBEX wealth GROUP LTD, registered under the financial sector conduct authority (FSCA) in south africa.

Globex360 is registered and regulated by the financial body in south africa, which is one of the most prominent areas for financial and monetary regulations of trading application services.

Globex360 keeps client funds in segregated accounts to keep from merging the funds of clients to those of the corporation. The segregated accounts show the high level of transparency and concern of the company towards the client’s funds and personal information.

Globex360 is in compliance, with the financial intelligence and anti-money laundering act 2002 (FIAMLA 2002), the prevention of corruption act 2002 (POCA 2002) and the prevention of terrorism act 2002 (POTA 2002). These acts are in place to avoid any illegal and unlawful activity that could occur within the company, ensuring that the clients are safe from being exposed from the aforementioned criminal acts.

Regulated by the financial sector conduct authority in south africa, also known as (FSCA)

In accordance to the financial intelligence and anti-money laundering act 2002 (FIAMLA 2002), the prevention of corruption act 2002 (POCA 2002) and the prevention of terrorism act 2002 (POTA 2002)

Client funds stored in segregated accounts

Does not provide negative balance protection

Does not provide investor protection

Globex360 fees

You do not have to worry about deposit fees and withdrawal fees, because there are none.

The minimum deposit for the basic account is 100USD and the standard account is 500USD, while the minimum deposit for the professionalvip account is 5000USD; this is also considered relatively low.

Deposit and withdrawal fees
deposit fee	0USD
withdrawal fee	0USD
inactivity fee	5USD
account fee	0USD

globex360 fees vs. Competitor fees
globex360	octafx	avatrade	XM group
account fee	no	no	no	no
inactivity fee	yes	no	yes	yes
deposit fee	0$	0$	0$	0$
withdrawal fee	0$	0$	0$	0$

Globex360 trading fees

With globex360, there is a minimum and a maximum trade size; the minimum trade size is 0.01 lots and the maximum trade size is 50 lots. There is a maximum amount of orders for traders that can be opened on their MT4 trading account, which is fifty orders. Their execution speed for order is, on average, approximately two-hundred milliseconds; this is considered to be very fast and efficient to benefit traders.

Globex360 have a 100/30 percent margin call-stop level, but the trader’s account may be exposed to a margin call if the trading account’s equity lies in a level that is equal to the margin of the trader’s existing position.

Another feature and trading condition that globex360 provides is hedging and scalping. The required margin for hedging positions on the three accounts is zero, and there are no time limitations for keeping the positions open for traders.

With globex360, there is a possibility for traders to face a negative balance if they use the maximum leverage level that is available. A negative balance could also occur if there is a slippage, due to a period of high volatility.

The broker has a risk department is constantly and consistently track their clients’ progress when it comes to risk-taking decisions and strategies. This allows globex360 to monitor and see if a trader is making irresponsible trading decisions, then the broker will notify the trader through an email with the contents of asking them to reduce their risk exposure.

The broker may also reduce the maximum leverage level on the client’s trading account, to ensure that they are trading responsibly and not exposing themselves to major financial risk.

With globex360, negative balance protection is not guaranteed by the broker. The general practice of negative balance protection is based on a case-to-case review.

Account opening

The three trading accounts of globex360 are: basic account, standard account, and professional or VIP account. These are all available for you on globex360, but it depends on your trading knowledge.

Minimum deposit of 100USD for basic and standard

Account management is free

Forex, commodities, indices, and cfds available

Globex360 basic account

The first globex360 account available for you is the basic account with an instant execution type and the free support of an account manager. The maximum leverage level is 1:100 and a minimum spread starts from 2.0. There is also a commission charged for trading, which is 12USD per lot.

The available trading instruments on the basic account are forex, commodities, and indices, with the MT4 trading platform. The maximum order size is ten lots and there is a guaranteed stop loss order, which is reasonable for traders with the basic account. The minimum initial deposit is one-hundred dollars.

One of the main drawbacks of the basic account is that traders with this type of account will not have access to the knowledge base of globex360, and they won’t be able to have the option of automated trading.

Instant execution

Low minimum deposit (100USD)

Guaranteed stop-loss orders available

No access to educational resources

No access to automated trading

High trading commission

Globex360 standard account

The second account type that globex360 provides is the standard account. This account is similar to the basic account, but there are some improvements. The execution type is market execution, you get the support of an account manager and can also access automated trading.

The maximum leverage level for the standard account is 1:200, and they provide minimum spreads from 1.6. The commission charged for each lot is 10USD and the maximum order size is twenty lots. The standard account offers forex, commodities, and indices as instruments for trading, with the MT4 trading platform available for the trader’s convenience.

The minimum initial deposit is five hundred dollars($500) and you can immediately gain access to the educational materials of globex360.

Free account management

Market execution

Guaranteed stop-loss order

Access to automated trading

No access to personal account manager

Only available on MT4 trading platform

High trading commission

High minimum deposit ($500)

Globex360 professional or VIP account

The final and most beneficial trading account is the professional or VIP account.

This globex360 trading account performs orders at market execution quotes, and has free account management. The maximum leverage level is 1:400, since the maximum order size is fifty(50) lots. The account also offers minimum spread starting from 1.2, with a commission of eight dollars($8) per lot.

Similar to the standard account, traders can access forex, commodities, indices as well as automaded trading services. Unlike the other two trading accounts, there is the option for a personal account manager and the minimum initial deposit would be five thousand dollars($5000).

Access to automated trading

Guaranteed stop-loss order

Personal account manager available

High minimum deposit (5000USD)

Only available on MT4 trading platform

High trading commission

How to open a globex360 account

STEP ONE: fill out the online application with your personal information and trading preferences.

STEP TWO: open your email to verify your login credentials.

STEP THREE: upload documents of your bank statement, proof of address (POA), and a copy of your passport or ID as a form of proof of identity.

Deposit and withdrawal

There are several methods of payment, for depositing and withdrawing funds. These methods include: payfast, bitcoin, debit and credit cards.

Globex360 accepts several different currencies such as: USD, EUR, and MMK. The deposits and withdrawals are free of charge, but a transfer fee could be charged by the bank and not by the broker.

Globex360 will also not cover conversion fees, if the trader deposits or withdraws funds that are a different currency than that of the trading account.

Deposits

The globex360 minimum deposit for all trading account types is 25USD. However, the VIP account has a specific condition, where the trader must reach a monetary minimum balance of fifty thousand dollars.

With globex360, it is possible for traders to withdraw funds through a different payment method from that used for depositing. The funds will be withdrawn and deposited through the same method of payment, but globex360 gives traders the option to transfer funds to a different mode of payment, as long as it is under the same name and personal information.

Globex360 review

Globex360 is a regulated trading broker that has a limited range of instruments for trading online via the popular metatrader 4 (MT4) platform for desktop, web and mobile devices. The trading brokers review team found this broker not the cheapest option whilst they could improve on the educational resources provided. However, they do have a social trading platform and a variety of account types to choose from.

Globex360 review, pros & cons

Regulated broker

Copy trading platform

Islamic accounts

Popular MT4 platform

FIX API

Not the lowest spreads & commission fees

Limited trading instruments

Limited deposit/withdrawal options

No individual stock cfds

Lack of educational resources

No live chat support

No belgium, US or canada clients

In this detailed globex360 review, our online broker research team have covered some of the most important aspects for you to consider when choosing the best broker for your online trading needs.

Globex360 is not ranked in our best forex brokers, best stock brokers, best cfd brokers, best crypto brokers or best online brokers categories. You can use our free broker comparison tool to compare online brokers including globex360.

Globex360 review: summary

Founded in 2017, globex360 is a global online trading services provider based in south africa. Clients can choose from over 100+ trading instruments from multiple asset classes including forex, commodities and indices. The broker offers online trading with competitive spreads, leverage of up to 1:500 and has no hidden fees. However, the brokers spreads starting from 1.2 pips are not the lowest considering some brokers have spreads that start from 0 pips. The commission charges from $8 are also not the cheapest.

Globex360 review: broker features

Globex360 review: regulation

Globex360 is an authorised financial services provider registered and regulated under the financial sector conduct authority (FSCA) in south africa. The FSCA is responsible for the regulation of financial institutions in south africa.

The FSCA aims to enhance and support the efficiency and integrity of financial markets and to protect investors by promoting fair treatment as well as providing them with financial education. They aim to ensure there is an efficient and stable environment where customers are informed, protected and treated fairly.

At globex360, the safety of your funds is paramount to the brokers activity. With this in mind, all client funds are held in a segregated account separate from the company’s funds. This means that they should not be used for any other purposes such as day to day business running costs.

Globex360 review: countries

Globex360 products and services are not intended for belgium, US and canada residents. Some globex360 broker features and products mentioned within this globex360 review may not be available to traders from specific countries due to legal restrictions.

If you are looking for a trading broker in a particular country, please see our best brokers USA, best brokers UK, best brokers australia, best brokers south africa, best brokers canada or our best brokers for all other countries.

Globex360 review: trading platforms

Metatrader 4 (MT4)

Globex360 review: MT4 trading platforms

Globex360 offer online trading via the ever popular metatrader 4 (MT4) platform which is used by millions of traders all over the globe and an obvious choice for many brokers. MT4 is known for its user-friendly interface that is fully customisable and features automatic monitoring, advanced charts and live analysis. Its classic design and powerful analytical tools make it a mainstay within the trading industry.

Whether you’re interested in automated trading or building your own setup with add-ons, MT4’s long-standing community enables you to add signals, indicators, and oscillators to your trading strategies.

Some of the key MT4 platform features include:

Real time bid/ask price quotes via market watch window

Multiple chart types & timeframes

Supports multiple order types

Built-in technical indicators & drawing objects for analysing charts

Automated trading with expert advisors (eas)

Strategy tester to back test eas over historical data

MQL community to share ideas & tools with other traders

Metaeditor to develop custom indicators, scripts & eas in the MQL language

Price alert notification via email, pop-ups & SMS

Available for desktop, web & mobile (ios & android)

Metatrader 4 (MT4) mobile app

Globex360 review: MT4 mobile trading app

The MT4 mobile app is useful for those who need to access their account and trade whilst on the go. It is compatible with ios and android devices. You can trade from anywhere in the world provided there is an internet connection. The MT4 mobile app maintains many of the same features as the desktop version and you can access both through one trading account.

Interactive charts in the mobile app track and update currency rate changes in real time. The application provides three types of charts: bars, candlesticks and lines allowing you to trade directly on them. You can easily scale and scroll charts, as well as switch between 9 timeframes — from one minute to one month.

The MT4 app allows you to set up and implement your own customised trading strategy. The app supports 30 of the most essential technical indicators and 24 analytical objects: lines, channels, geometric shapes, as well as gann, fibonacci and elliott tools. All can be applied both to the chart window and each other, whilst the platforms colour schemes can also be adjusted to your preferences. You can open up to 10 windows with indicators simultaneously for thorough analysis.

Instant execution orders allow you to trade online continuously, while pending ones relieve you from the necessity to constantly manage your trading. Your trading request will be executed even if the MT4 mobile application is closed. Open positions can be modified by changing stop loss and take profit order levels.

All information regarding the amount of orders and open positions, open prices, volumes and account status can be found in the trade window, while the history window allows you to view the detailed history of all previously performed trades.

Globex360 app

Globex360 review: globex360 app

Globex360 also offers its very own trading app for its partners to help manage their business. Partners have access to their client’s data on the go. Partners get the full set of tools to refer clients, from the conventional referral URL, to the more advanced referrals via social media and other types of messaging. Ibs can also instantly see the result of their work. Features include:

Overview of all accounts with balances

Account types

Trade history

Mobile deposits

IB tools

Promo materials

Performance analytics

Commissions due

Copy trading platform

Globex360 review: copy trading platform

Globex360 provide clients with the option of copy trading using their social trading platform where you can provide or copy the signals of other traders. You can follow and view the performance statistics of traders. You maintain full control of whom you copy, how much of your account is used to copy and when to stop copying any of the traders on the social/copy trade platform. It must be strongly emphasised that past performance is by no means any guarantee of future results and you should have a clear understanding of all the significant risks involved with trading online.

FIX API

Globex360 state that they offer FIX API connection to large private and institutional clients. The minimum account balance required to qualify for the FIX API is $25,000 and the minimum monthly trading volume required is 500 lots. If a client does not reach 500 lots, then a $1,000 fee applies.

Globex360 review: trading tools

Whilst the MT4 platform will have more than enough compatible tools for the average retail trader, the broker does provide a few additional tools.

Trading calculators

Globex360 review: trading calculators

There are a couple of trading calculators on the brokers website which can help traders to quickly and easily calculate position sizes and convert currencies. These are powered by the dailyforex brand.

Economic calendar

Globex360 review: economic calendar

There is an economic calendar freely available on the brokers website that displays up and coming news releases. You can check the title of the release along with the date and time. This can be used as part of a trading strategies fundamental analysis to identify potential market movements caused by news releases. The calendar can be customised to display only news that is relevant to you whilst it also shows the previous, forecasted and actual result of the news.

Globex360 review: education

Unfortunately, globex360 does not have a trader’s academy and thus, the educational resources are very limited. There are no tutorial videos, trading guides or webinars. This would be beneficial as they can help beginners to improve upon their trading knowledge and skills.

Knowledge base

There is a basic knowledge base section on the brokers website that displays a few common terms along with an explanation of what each means. This may be deemed useful by beginner traders although not all of the most important terminologies are covered.

Globex360 review: trading instruments

Globex360 provide over 100+ trading instruments from different markets including forex, commodities and indices. This could actually be considered a limited selection when compared to other online brokerages, some of who offer thousands of trading instruments.

Forex trading

Forex, commonly known as the foreign exchange or FX, is the world’s most widely traded market in terms of trading volume, with an estimated daily turnover exceeding $5.5 trillion. Currencies are traded around the clock 24 hours a day, 5 days a week. Globex360 offers over 50 major, minor and exotic FX currency pairs.

50+ FX currency pairs

Leverage up to 1:500

24/5 forex trading

Indices trading

Indices are weighted index of the top shares on a particular exchange, like the US30 (dow jones 30) and the new york stock exchange. With globex360 you can trade a wide range of global indices with no overnight financing costs and low margin requirements.

6 market sectors and over 20 cfds

Leverage up to 1:500

Advanced technical indicators

Commodities trading

Clients get access to trade cfds on a range of commodities from the energy, industrial, precious metal, financial and agricultural sectors. As the foundation of the global economy, you can gain exposure to a wide range of products – from copper and coffee to silvers and soybeans. With globex360 commodities trading you can enjoy competitive spreads and modest margin requirements.

6 market sectors and over 20 cfds

Leverage up to 1:500

Advanced technical indicators

Globex360 review: trading accounts & fees

The broker has a variety of account types to suit different investment levels and trading strategy requirements. Globex360 accounts require a $100 minimum deposit and have flexible leverage of up to 1:500 available.

Basic account

This is the entrance level account that has a minimum $100 deposit requirement, spreads from 2 pips and leverage up to 1:100. Commission per lot is $12.

Standard account

For more experienced traders who need professional advantage this account has a minimum $100 deposit requirement, spreads from 1.6 pips and leverage up to 1:200. Commission per lot is $10.

Professional account

For professional accounts you will need to speak to an account manager. This comes with increased leverage, tighter spreads from 1.2 pips, a larger $5,000 minimum deposit and access to a trade specialist. Commission per lot is $8.

Copy trading account

Copy trades from other traders with leverage up to 1:500 and a minimum deposit of $200.

Islamic accounts

There are islamic accounts that are muslim friendly and comply with sharia law.

Demo accounts

Demo accounts that allow you to try out the platforms and practice your trading strategies are also available.

Globex360 review: account types

As broker fees can vary and change, there may be additional fees that are not listed in this globex360 review. It is imperative to ensure that you check and understand all of the latest information before you open a globex360 broker account for online trading.

Globex360 review: customer service

Globex360 support can be contacted using the online form on their website or using the email and telephone numbers provided. They do not offer live chat support which is disappointing as this can be the most convenient form of communication for many users.

Globex360 review: deposit & withdrawal

The broker supports fast deposits and withdrawals via wire transfer, credit/debit card, payfast and bitcoin. This is quite a limited selection compared to other brokers who offer multiple online payment processors such as skrill, neteller, paypal, etc. Some of these methods may incur additional charges. If your withdrawal is under a certain amount, the broker apples a small charge. The fee depends on the base currency of your trading account.

Please note that globex360 will not cover any exchange rates charged if you are depositing in a currency that is different to that of your bank funds. Accounts can be opened GBP, EUR, USD, CHF. The different currency options are beneficial as currency conversion fees do not apply when using an account in your own currency. You can have multiple trading accounts in different currencies at the same time.

Any bank transfers made to globex360 must be made from a bank account registered in the client’s full name, otherwise your funds may be returned to source.

Globex360 review: deposit withdrawals

Globex360 review: account opening

There is an application form that can be completed on the brokers website should you wish to open a live trading account with globex360. It is not the shortest form we have seen and will require some personal financial information. You must read the brokers terms and conditions then check the box only if you agree to them. After your account has been created, you will need to verify it using proof of identification (e.G. Passport) and address (e.G. Utility bill). Once your account has been verified, you can fund it using any of the convenient deposit methods, download the trading platforms and commence trading online.

Globex360 review: open live account

Globex360 review: conclusion

Overall, globex360 has a solid online trading offering although it could be considered to be limited when compared to other trading brokerages who have more trading instruments, platforms and educational materials. They do have a variety of different account types but could increase funding options. The social trading platform is a useful addition to some although they would also benefit from providing daily market analysis. Furthermore, the trading brokers review team discovered that this particular broker does not have the lowest spreads or commission charges. For alternative options, you may wish to see our list of best trading brokers.

Contracts for difference (”cfds”) are leveraged products and carry a high level risk to your capital as prices may move rapidly against you. Losses can exceed your deposits and you may be required to make further payments. These products may not be suitable for all clients, therefore, ensure you understand the risks and seek independent advice.

Min $100 deposit

Globex360 is a regulated trading broker that has a limited range of instruments for trading online via MT4. The broker is not the cheapest & could add some educational resources. They do have a social trading platform & variety of account types.

Globex360

Alternatives

Forum, user reviews and feedbacks

Alternatives

Facebook

Globex360

New funding methods available

Simply go to your client area >> deposit funds to choose the best method for you.

Globex360

Do you know what swing trading is?

Swing traders hold positions for days or weeks to take advantage of medium-term trends with targets in the range of hundreds of pips.

Having large profit targets is essential as positions can be subject to overnight swap fees and weekend gapping risk.

Swing traders argue that medium and long-term trends are easier to predict than intraday trends.

Globex360

Are you aware of the relationship different currencies have with each other?

When two currency pairs are correlated, they will strengthen and weaken together. When two currencies are uncorrelated, if one strengthens, the other will weaken, and vice versa.

Understanding correlations amongst currency pairs can be an excellent filter for false trading signals and prevent you from accidentally entering conflicting trades which effectively hedge one another, cancelling out any profits.

Globex360

Do you know how a forex trade works?

When you go short on GBP/USD, you’re theoretically selling pounds for dollars. When you close the position, you're technically buying pounds for dollars.

If the price goes down, it means the pound weakened against the dollar, so you get back more pounds, therefore making a profit. If the price went up, it means you get back fewer pounds, and that means you make a loss.

Your profit or loss will be calculated in dollars, but it will be settled in the same currency as your trading account immediately after closing the position.

Globex360 broker review

Summary

Reviews

Account information

Trading conditions

Company details

Deposit & withdrawal methods

Supported platforms for globex360

Is globex360 safe?

Should I trade with globex360?

We do not recommend globex360.

We recommend choosing another broker from one of our lists:В

We only recommend well-regulated, honest brokers with good trading conditions.В

Globex360 review

Summary

Reviews

Account information

Trading conditions

Company details

Deposit & withdrawal methods

Supported platforms for globex360

Is globex360 safe?

Globex360 is an STP broker and operates without a dealing desk – though trade execution on basic accounts is instant, insinuating an automated dealing desk of some kind. Standard and professional accounts are both market execution.

Globex360 does not offer negative balance protection, stating that “negative balance protection is not guaranteed. The general practice is that we cover the negative balance, but all cases are reviewed on a case-by-case basis.”

Should I trade with globex360?

We do not recommend globex360.

Even if the allegations of funding problems are untrue, globex360’s trading costs are unreasonably high and its forex education is poor. Even though globex360’s minimum deposit is quite low at 100 USD, it does not publish its complete spreads and the only platform available is MT4.

We recommend choosing another broker from one of our lists:

We only recommend well-regulated, honest brokers with good trading conditions.

Recommended broker

We cannot help but be impressed by exness at first glance. The site works great, and is designed to meet with any modern criteria. The slickness of it all makes navigation a blast. But simple aesthetic aspects do not overrule flaws. Is exness just for show, or is it something more?

Exness (UK) ltd is a registered broker in the UK. The broker is regulated by the FCA, by now known for its strict law abiding and anti-exploitation policy. Exness is part bound by the FSCS, which guarantees a refund of up to £85 000 for clients, should the broker fail to continue trading.

The company has a branch based in cyprus, under exness (cy) ltd and is authorized and regulated by cysec, whose main goal is to enforce the law in the financial markets industry. Exness (cy) is also a member of the investor compensation fund (ICF) which protects clients covered by the ICF, and provides them with reimbursement of up to €20 000 euros in case exness cannot meet their financial rights.

The average spread rate is 0.4 pips. The leverage identified on certain sub-pages surpasses the limit imposed by ESMA:

We kindly remind traders that ESMA rulings state that no leverage over 1:30 is allowed in the UK and EU. Only professional clients are qualified for a leverage up to 1:200. With that said EXNESS has edited their mistake on their “margin requirements and leverage rules” subpage:

The site is not clear on what assets it offers for trade, which is a letdown since it’s one of the most essential questions first time users look for. After contacting support we were left disappointed by the fact that only forex pairs are available for trade.

The language variation is surprisingly abundant in a EU/UK only regulated broker: english, russian, spanish, german, french, italian, portuguese, chinese, malaysian, indonesian, thai, hindi, arabic, farsi, vietnamese, korean, bengali, urdu.

The broker comes with the two most popular trading terminals: MT4 and MT5.

METATRADER 4

Access all your trading needs using MT4. It’s the number 1 platform in the world, and for a reason. Get acquainted with expert advisors to trade automatically. MT4 comes ladened with features: VPS hosting, economic calendar, drag and drop charts, customizable trading indicators and so much more.

Spreads go back and forth between 0.5-0.9 pips, while leverages are limited to 1:30 by ESMA (no matter what the website claims it is, EXNESS is bound by the law). There is an exception to the rule in the way of a professional client status (substantial deposits and specific requirements)

There is no commission on spreads.

Monitor your trading on android and ios devices, while also having access to a desktop version of the platform and a browser based one (no auto-trading bots though).

METATRADER 5

As a successor for MT4 this platform is a much more accessible version, yet cannot still, after almost a decade, replace MT4. MT5 comes with improved time frames, more pending order types and more. Trading bots can be accessed as well.

Due to ESMA established rules, the maximum leverage is 1:30, so any information you see on the website claiming to have a higher leverage than that is false! The only exceptions are professional clients, to whom a leverage of up to 1:200 is offered.

The EUR/USD spread is a fluctuating 0.5-0.9 pips.

Commissions on spreads are non-existent.

Start using MT5 on android and ios devices. A separate desktop version is, as expected, available. However, there is no browser addition.

EXNESS MINIMUM DEPOSIT

To open an account at exness one must initially deposit deposit a minimum of $500. After that the limit is lowered to $3 for credit cards, and $10 for all other methods.

Funding an account happens in one of the following ways: wire transfer, bank wire, neteller and skrill.

The base currencies at exness are USD, GBP, EUR, JPY, CNY, CHF.

Wire transfer funding may take up to 3-5 days. The other methods allow for instant deposits.

There are do fees for making a deposit.

EXNESS WITHDRAWAL TIME AND FEES

The FCA and cysec assures clients that no problem may arise when withdrawing money.

Withdrawals are issued by wire transfer, bank wire, neteller and/or skrill.

Neteller and skrill withdrawals are paid out instantly. While bank transfer and credit card users have to wait 3-5 days for exness to process their money. The time it takes for their money to arrive after these processes depends entirely on the payment system used.

There are no fees attached to withdrawals.

Clients of neteller have a minimum withdrawal requirement of $4. Skrill’s minimum is $10. For cards it’s either $3 or $6 depending on the card type. Finally, wire transfer users are limited to a minimum withdrawal of $40.

BOTTOM LINE

Exness possesses licenses form the top regulators in the industry. On that front, traders needn’t worry.

Regardless, even with real madrid as their sponsored team, exness is somewhat average as far as brokers go. It delivers on what traders expect but adds nothing new to the table. Some misleading information concerning the leverage is worth mentioning, and the fact that there is only one tradable asset give to show that exness has a long way to go.

So, let's see, what was the most valuable thing of this article: globex360 broker review summary we do not recommend globex360. Globex360 minimum deposits start at 100 USD, but trading costs are expensive. Spreads are wide, starting at 2 pips on the basic at globex360 deposit methods