Globex360 Reviews – Looking to find out this forex platform Globex360.co.za, you are in the right place. Is it a scam or legit broker? Read review to know about this forex broker.
This article promises to share helpful review to support clients/traders in making the right decision. Kindly read to the end and make your verdict.
About Globex360.co.za
Globex360 FX otherwise known as Globex360.co.za is an offshore brokerage with a lot of promises for forex traders. The forex company claims to offer crypto investment services to their clients.
Further, the brokerage promises different instruments like forex, stocks, commodities, crypto, bonds and indices.
What We Discovered about Globex360 Regulation
First of, Globex360 presents its contact address in Johannesburg, South Africa. When we checked the license information they provided in the database of the South African financial regulator, FSCA, we found a company with that name and license number.
However, the contact information of that company did not match with the one provided by Globex360.co.za. This means that this broker is a clone of a regulated broker and definitely poses a treat.
Furthermore, this broker does not offer money back guarantee which means trading on such platform is clearly putting your funds at a risk of scam.
These drawbacks are for forex traders/ clients to avoid losing money with this scam broker. It is always advisable you check for regulated and licensed broker on financial authorities websites before depositing fund for trading.
Won’t you rather trade with a licensed and legit broker? Fortrade is a UK-based broker with address at Michelin House, 81 Fulham Road London, SW3 6RD, United Kingdom. They are among the best brokers in the industry offering trades in numerous assets including stocks, commodities, currencies, indices, and cryptocurrencies. Fortrade is regulated and licensed by the FCA(Financial Conduct Authority) in the UK, ASIC in Australia, NBRB in Belarus, CySEC in Cyprus as well as IIROC in Canada which makes client funds safe. They accept traders worldwide…visit their official website
Globex360 Minimum Deposit for Traders
Globex360 offers variety of trading account for clients. According to the account descriptions, the broker leverage is capped 1:400.
Meanwhile, there is a minimum deposit of $20. This is a fair deposit for a start if only the broker is legitimate.
In contrast, some licensed FX brokers can offer clients trading rate as low as $100 with the assurance of their trading funds.
Globex360 claims to accept well-known payment options, that is credit/debit card.
Just so you know, offshore brokers are commonly known for accepting crypto currencies. For this purpose, payments made through this method are anonymous and can only be traced to a wallet address and not to a specific person. So beware!
Globex360 Provides What Trading Software?
Globex360 offers access to the industry trading platform MetaTrader 5. However, the presence of MT5 does not guarantee the broker to be trustworthy.
Why use forex brokers with advanced trader like MT4/MT5? You are certain to have the best features of real-time quotes, financial news and various FX and stock charts, as well as algorithmic trading sessions with the help of specially designed trading bots, called Expert Advisors.
Frankly, we say don’t consider doing that with an illegitimate forex broker like this one because you stand the chance of losing your money.
Globex360 Licensing and Regulation
Like in any corporation, integrity is a key to uphold these days. It doesn’t matter if you make a lot of money but you can’t take it out. That is to say, exactly what is happening with non-licensed companies.
Having said that, it is not far from believing that Globex360.co.za is not a licensed brokerage firm. It is not under any financial regulation which means wiring your money for trading is risky. Its unlicensed and unregulated activities are truly a red flag and must be avoided.
COMPARE WITH A TRUSTED BROKER
Fortrade
Fortrade is a UK-based broker with address at Michelin House, 81 Fulham Road London, SW3 6RD, United Kingdom. They are among the best brokers in the industry offering trades in numerous assets including stocks, commodities, currencies, indices, and cryptocurrencies. Fortrade is regulated and licensed by the FCA(Financial Conduct Authority) in the UK well as ASIC in Australia which makes client funds safe. They accept traders worldwide..visit their official website
Final Thoughts:
Globex360 FX located at Globex360.co.za appears like a trustworthy trading broker, however, you should not take the words they say and the attractive website layout. By all appearances, we would advise traders to steer clear from unlicensed brokers as they likely a platform run by scammers. Thus, we urge our readers to rely on regulated brokers like this or any licensed entity.
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