Globex360 Review 2024
Website: www.globex360.co.za
Min. Deposit: US$ 25
Leverage: 1:100 | 1:500
Trading Platforms: MT4
Regulation: FSCA
Headquarters: South Africa
Founded: 2017
Regulatory Licenses:
- Globex360°(PTY)LTD - authorized by FSCA (South Africa) license no. FSP 50130
Updated on March 6, 2024
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Our approach to reviewing brokers involves a comprehensive and detailed evaluation, contrasted against the performance and offerings of over 1000 brokers. This extensive comparison allows us to provide an objective view on the broker's overall standing, features, services, and its position in the global market. Our review process includes hands-on testing, analysis of regulatory frameworks, scrutiny of customer support quality, platform usability, and a deep dive into the trading conditions including fees, spreads, and leverage options. This method ensures that our recommendations and warnings are well-founded and aimed at assisting traders in making informed decisions.
Globex360 is a brokerage entity that facilitates trading across various asset classes including Forex, CFDs, Stocks, Indices, and more. Established in 2017 and based in South Africa, Globex360 extends its trading solutions worldwide, partnering with leading technology providers in the sector. The broker champions the No Dealing Desk (NDD) and ECN execution models, ensuring clients benefit from competitive trading prices and confidentiality. However, it does not offer its services to residents of Belgium, the US, and Canada.
Pros
Globex360 stands out as a trustworthy and regulated broker, boasting an easy account setup process.
Offers a conducive trading environment with competitive spreads and costs.
Cons
Absence of 24/7 customer support.
Depending on account types, fees for certain instruments may be relatively high.
Is Globex360 Safe or a Scam? ▲
Globex360 is far from being a scam. It is a reputable broker headquartered in South Africa, under the regulation and authorization of the FSCA regulatory body. This status affirms Globex360's legitimate standing in the financial market.
Is Globex360 Legit?
Indeed, Globex360 is a legitimate and regulated brokerage firm. Registered with South Africa's Companies and Intellectual Property Commission, Globex360°(PTY)LTD provides its trading services internationally through its regulated trading partners. Our conclusion regarding Globex360's reliability gives it a Trust Score of 7.9 out of 10, acknowledging its reputable services. However, it is important to note that the broker is equipped with only one regulatory license for its trading operations.
How Are You Protected?
Globex360 ensures the protection of its clients' funds by keeping them segregated from the company's operational accounts. This measure prevents the use of client funds in the company's business activities. Additionally, the broker's "No Last Look" execution policy guarantees that Globex360 cannot interfere with clients' trades, eliminating the possibility of price manipulation during trading sessions.
Leverage trading, while offering the potential to amplify gains, requires careful handling due to its ability to also magnify losses. Globex360 provides leverage in compliance with FSCA regulations, with minimum leverage starting at 1:100 for basic accounts and peaking at 1:400. For Forex CFDs, the broker permits the use of leverage up to 1:500, allowing traders to operate with significantly larger positions than their initial balance.
Account Types
Globex360 caters to a diverse clientele by offering a range of account types, including Traditional accounts such as Standard, Premium, Premium+, and Private Wealth, Business Referrers (IB accounts), and Islamic or Swap-free accounts for those adhering to Sharia law. Additionally, new traders can explore the platform through a free Demo account, allowing for trial trades without financial commitment.
How to Open Globex360 Live Account?
Initiating an account with Globex360 is a straightforward process. To get started, one must navigate to the "Open an Account" page, input the necessary personal information such as name, email, and phone number, and then proceed to verify this information by uploading the required documents, like proof of residence and identification. Following this, completing an electronic quiz to confirm your trading knowledge is necessary. After the verification process, and once the account is activated, you can proceed with depositing funds.
Trading Instruments
Globex360 boasts a comprehensive selection of trading instruments, encompassing Forex, CFDs, Indices, Metals, Commodities, Stocks, Cryptocurrencies, and more. The platform is notably popular for Forex trading, which is accessible 24/5. Despite its extensive offering, Globex360 does not provide access to futures or bonds. The broker's Market Range Score stands at 4.3 out of 5, reflecting its broad selection among Forex, indices, metals, among others.
Globex360 Fees
Globex360 implements a fee structure based on spreads and the type of account selected. Basic and Standard accounts benefit from commission-free trading, whereas Pro accounts incur a $5 commission per lot. Additionally, traders should be mindful of inactivity fees and rollover rates, which apply if a position remains open for more than a day. When compared to over 1000 other brokers, Globex360's fees receive an average rating of 4.0 out of 5.
Globex360's spread model is variable, offering its narrowest spreads through Pro accounts, which necessitate a minimum deposit of $5,000. Our research indicates that the average spread for EUR/USD pairs is notably low at 0.1 pip. Overall, the broker's spread rating is 4.3 out of 5, placing it either at a low or average position when contrasted with other brokers. This rating is attributed to its competitive Forex spreads and overall competitive pricing across various instruments.
Funding your trading account with Globex360 is facilitated through a variety of currencies including GBP, EUR, USD, CHF, and others, offering flexibility in your choice of currency. The broker supports multiple payment options such as Bank Wire, Credit/Debit cards, Skrill, Neteller, PayFast, Bitcoin, and additional methods, catering to a wide range of trader preferences.
Globex360's funding methods have been evaluated positively, receiving an impressive score of 4.3 out of 5. The broker is distinguished for its low to average fee structure, alongside offering the advantage of numerous account-based currencies, enhancing the trading experience.
Pros
Various funding currencies available
Multiple payment options including e-wallets and cryptocurrencies
Low to average fees for transactions
Cons
No mention of specific fee amounts for clarity
Globex360 sets a low entry barrier with a minimum deposit requirement of $25 for all account types, making it accessible to a broad audience. In contrast, the VIP account demands a significant minimum deposit of $50,000, tailored for high-net-worth individuals. This minimum deposit threshold is notably lower compared to the industry standard of $500.
Withdrawal processes at Globex360 are efficient, with requests typically processed within 24 hours during business days. Traders have the flexibility to use various withdrawal methods, including cards, e-wallets, and bank transfers, ensuring convenience in accessing funds.
The steps to withdraw money from Globex360 are straightforward: Login to your account, select Withdraw Funds', enter the withdrawal amount, choose the method, complete the request with necessary details, confirm the information, and submit. You can monitor the status of your withdrawal through the Dashboard.
Globex360 employs the widely acclaimed MetaTrader 4 platform, allowing trading across desktop, web, and mobile devices. MT4 is celebrated for its comprehensive trading capabilities, offering Forex and CFD trading across one of the most efficient platforms globally.
In terms of trading tools, MT4 is equipped with a vast array of analytical tools, indicators, charts, and the Autochartist MT4 Plugin. This plugin aids in recognizing market movements, optimizing stop-loss, enhancing market entry, among other functionalities. Additionally, the Guardian Angel AI trading assistant, accessible post MT4 download, further enriches the trading experience.
The platform's performance has been rated favorably, with a score of 4.0 out of 5, in comparison to an extensive review of over 1000 brokers. Its commendation stems from offering the professional MT4 trading platform, albeit the absence of alternative trading platforms is noted.
Globex360 extends 24/5 customer support through various channels including Phone, Email, WhatsApp, and Social Media. The broker's customer service has been assessed positively, achieving a score of 3.8 out of 5. This rating reflects the broker’s capacity to provide fast, informed responses, and its accessibility during working hours.
Globex360 takes pride in offering a rich collection of educational and learning resources. These include video tutorials, seminars, webinars, educational books and brochures, analytical tools, economic calendar, market news, and more. The broker collaborates with leading market data providers, ensuring high-quality materials and research.
The educational offerings of Globex360 have been recognized with a high rating of 4.5 out of 5, showcasing the broker's commitment to supporting traders' growth and learning.
Globex360 stands out as a trustworthy and secure brokerage firm, offering highly competitive trading conditions. It supports a NDD/STP execution model and an ECN trading environment, boasting spreads starting from 0.0 pips. The broker's comprehensive trading solutions, educational content, and analysis tools make it a suitable choice for a diverse group of traders, from beginners to advanced levels.
With a minimum deposit requirement that is competitively average, Globex360 is an accessible option for novice traders. The broker is particularly recommended for:
CFD and currency trading
ECN trading
Traders in South Africa and internationally
Beginners and advanced traders
Muslim traders
Those who prefer MT4 platforms
NDD/STP execution
Competitive spreads and costs
EA/Auto trading
High-quality educational and research materials
