Globex360 Broker Review
Globex360 is a global online trading services firm situated in South Africa that was founded in 2017. Over 100 trading products from a number of asset groups, including FX, commodities, metals, energy, and indices, are available.
The broker provides online trading with low spreads, up to 1:500 leverage, and no hidden costs.
This includes equities, commodities, forex, or indices with the MT4 trading platform.
If we talk about the minimum deposit, it generally starts from $100. But the overall trading costs are pretty high, including high commissions and wide spreads on all trading accounts.
You can find our transparent Globex360 review below. Broker reviews are updated frequently!
We value your feedback: Rate this broker by leaving a comment and rating below this review.
Pros / Cons
- FSCA Regulated
- ZAR Account Currency
- Broker Verified
- High Spreads
- No MT5
Globex360 is a South African Financial Sector Conduct Authority (FSCA)-registered and regulated approved financial services firm. The FSCA is in charge of financial institution regulation in South Africa.
The FSCA’s mission is to improve and maintain the efficiency and integrity of financial markets and safeguard investors by encouraging fair treatment and offering financial education.
In addition, they want to create an efficient and stable atmosphere where clients are educated, protected, and treated fairly.
At Globex360, the protection of your assets is important to the brokers’ activity. With this in mind, all customer monies are kept separate from the company’s funds in a segregated account.
It implies the broker shouldn’t use them for anything else, such as day-to-day operating expenses.
GlobeX360 has regulations from South Africa’s FSCA, the most reputable regulatory body in the country.
Negative balance protection is also available for traders. So rest assured, your finds are in safe hands.
Globex360 offers more than 100 trading products across several markets, including FX, indices, metals, energy, and commodities.
Over 50 main, minor, and exotic FX currency pairings are available through Globex360.
Globex360 allows you to trade a wide choice of global indices, with no overnight financing fees and minimal margin requirements.
CFDs on commodities from the energy, industrial, precious metal, financial, and agricultural sectors are also available.
GlobeX360 offers three traditional accounts; standard, professional, and expert accounts.
The standard account is a basic account type with a minimum 0 deposit. For forex pairs, it has a spread starting from 0.9. For other tradeable assets, spreads vary between 0.9 pips and 1.2 pips. It has a maximum lot size of 50 with leverage of 1:300. You can also trade on MT4 and MT5 trading platforms.
The professional account comes next with a minimum deposit of $300. Here too, forex spreads start from 0.9 pips and for others between 0.9 and 1.2 pips.
It also has a maximum lot size of 50 with a leverage of 1:300. With the pro account, you can trade on MT4 and MT5. Also, you can have your account managed without any additional costs.
The expert account is the last traditional account type. It has a minimum deposit of $5000 and spreads from 1.2 pips. Here you can get maximum leverage of 1:500 with free account management. To open this account, you need to contact the GlobeX360 support team, and they’ll guide you through the whole process.
There’s also an option for you to open an Islamic account, which complies with Sharia law. There are no overnight fees on this account. However, you can’t trade stocks with this account.
In addition to all these accounts, you can open a demo account. The demo account lets you practice trading strategies without investing real money. You can open the demo account with basic info. To get started, all you’ll need is a username and an email address.
It will provide you free access to a practice account with a virtual balance, which works exactly like a live trading account but without danger. You can then continue establishing a live GlobeX360 account once you’ve got enough practice with the platform.
Opening an account
You can open an account with GlobeX360 without any hassle. The account approval process can take two to three business days.
To open an account, you need to;
- Provide personal and financial information.
- Confirm your identity and citizenship. You can verify your identity by uploading a national ID, passport, or driver’s license.
There are four base currencies for creating an account with GlobeX360. These include; USD. GBP, EUR, and ZAR.
A key point to add here is you can get an exchange fee if you open an account in a different currency like AUD or CAD than four base currencies.
GlobeX360 provides trading primarily through the MT4 platform. MT4 is famous for its user-friendly, highly customizable interface, including automated monitoring, complex charting, and live analysis. It is a fixture in the trading sector due to its traditional style and advanced analytic features.
MT4’s long-standing community allows you to add signals, indicators, and oscillators to your trading strategies, whether you’re interested in automatic trading or developing your setup using add-ons.
Those who need to access their accounts and trade while on the road may find the MT4 mobile app handy. It works on both iOS and Android smartphones. You can trade from anywhere on the globe as long as you have access to the internet.
The MT4 mobile app has many of the same features as the desktop version, and you can use one trading account to access both.
The broker mentions the MT5 platform in its account types. This is because MetaQuotes released the MT5 trading platform in 2010 after the success of the MT4.
One-click trading, 21 timeframes, expert advisers, an easy interface, and other vital trading tools and functionalities are available on the MT5 trading platform. In addition, the MT5 is entirely customizable, allowing you to tailor it to your specific trading needs.
Globex360 also provides its partners with a trading app to assist them in running their businesses. In addition, partners have mobile access to their client’s data.
Partners have access to a comprehensive range of options for referring clients, ranging from the standard Referral URL to more complex recommendations via social media and other forms of marketing. Partners may also see the results of their work right away.
The spreads for forex major pairs are; 0.9 pips for EUR/USD, 0.9 pips for GBP/USD, 0.9 pips for AUD/USD, and 0.9 pips for USD/JPY.
The spreads depend on the type of account you choose.
Commissions and fees
GlobeX360 provides great commission-free trading conditions. For the EUR/USD, GlobeX360 starts with a minimum spread of 0.9 pips or $9.00 for a 1.0 standard lot.
The minimum spread for expert accounts starts at 1.2 pips, which is more compared to other brokers.
The broker also applies swap rates on leveraged overnight positions. In addition, it also applies an inactivity fee. Besides this, GlobeX360 charges a currency exchange fee, and deposit and withdrawal fees may also apply.
GlobeX360 has leverage options for people who want to trade on margin. The maximum leverage provided by the broker is 1:500. However, it is only available for expert account. For standard and professional accounts, the maximum leverage is 1:300.
Before you decide to trade with high leverage, remember that not every trader is suited to margin trading. Therefore, you must ensure that you properly identify potential risks. You should be conscious of the risks linked with margin trading.
Deposits and Withdrawals
The broker supports fast deposits and withdrawals via Wire Transfer, Credit/Debit Card, Neteller, Skrill, and Instant EFT. Some of these methods may be subject to extra fees. If your withdrawal is less than a fixed number, the broker will charge you a minimal fee. Your trading account’s base currency determines the cost.
Education and Research
There is a knowledge base section on the broker’s website that lists frequent phrases and explains what they signify. It is helpful for new traders.
The broker’s website has a free economic calendar that shows upcoming news releases when it comes to research.
You can look up the release’s title, as well as the date and time. It can be used to identify probable market changes induced by news releases as part of a trading strategy’s fundamental research.
You can customize the calendar to show the news that is important to you and recent, anticipated, and actual results.
Aside from that, the broker’s website has a few trading calculators that can help you easily and accurately determine position sizes and convert currencies.
GlobeX360 offers customer service 24 hours a day, five days a week. In addition, globex360 support may be reached using the website’s online form and the listed email and phone numbers.
Bonuses and Promotions
The broker offers three types of bonuses and promotions; deposit bonus, referral bonus, and a giveaway.
With the GlobeX360 deposit bonus, you can get a 100% return when depositing between $100 and 999.
You can earn up to $30,000 each month with the GlobeX360 business referral program.
You must first register as an IB with GlobeX360. You can begin introducing individuals to the broker’s website once you’ve completed the procedure. You’ll receive a commission of $7 per lot on traditional accounts and $3 per lot on ECN and pro accounts if they register an account with GlobeX360.
GlobeX360 is giving away R150 000 to one lucky winner. When you create a live account with the broker, you will be eligible to get this bonus. All you have to do is open a live account, deposit at least $200, and trade two standard lots with leverage of 1:200 to be eligible to win a prize from the broker.
Globex360 allows you to copy a trade using their social trading platform, which allows you to provide or mirror the signals of other traders. In addition, you can follow and see the performance metrics of traders.
You have complete control over who you copy, how much of your account is utilized for copying, and when you stop copying any traders on the social/copy trading platform.
Globex360 also provides FIX API connectivity to major private and institutional clients. To be eligible for the FIX API, you must have a minimum account balance of $25,000 and a monthly trading volume of 500 lots. A $1,000 fee is charged if a client does not reach 500 lots.
We value your feedback: Rate this broker by leaving a comment and rating below this review.
Thinking of Trading with Globex360?
Does Globex360 offer Nasdaq?
Yes, they offer Nasdaq/Nas100.
What is the GlobeX360’s minimum deposit?
The minimum deposit for the standard account is $100. For the pro account, it’s $300, and for the expert account, it’s $5000.
How do I deposit/withdraw from the GlobeX360 account?
You can deposit/withdraw funds through debit/credit card, bank wires, Skrill, Neteller, and Instant ETF.
Is GlobeX360 spread high?
GlobeX360 offers tighter spreads on standard and professional accounts. For the expert account, spreads are higher.
What is the maximum leverage at GlobeX360?
GlobeX360 offers maximum leverage of 1:300 for standard and professional accounts, while for expert accounts, it’s 1:500.
Yes, MetaTrader 4 and 5.
Is GlobeX360 available in all countries?
GlobeX360 is available around the globe except for the US, Canada, North Korea, Syria, and many European countries.
Globex360 offers a decent online trading offering, though it is minimal compared to other trading brokerages that provide more trading products, platforms, and educational materials.
They do provide a range of account types. However, they should expand their funding methods. Some people will find the social trading platform beneficial, but they will also profit from daily market research.
On an expert account, the broker’s spreads start at 1.2 pips, which is not the lowest, considering that some brokers offer spreads that start at 0 pips. The commission fees, which start at $8, are not the lowest.
GlobeX360 is a regulated broker which provides all the trading bells and whistles you need. Features like free account management is a big plus if you don’t have time to trade yourself.
The copy trading feature is also an additional bonus. The process of signing up for a live or a demo account is quick.
Feel free to give GlobeX360 a shot. There is a lower minimum deposit and tighter spreads on standard and professional accounts.
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Heinrich is a forex and CFD enthusiast with a passion for writing good informative quality content. He strives to showcase the best forex brokers in Africa. Join him on his Journey!
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