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FXGlobe was founded in 2009 and has grown as a multi-asset broker and a financial trading platform. They have a client base of over 45,000 clients and operate as a no-dealing desk broker.
They have had their highs and lows, and while much of their story may still be a mystery, this forex broker review will leave you with all the information you need to decide if it’s the broker for you or not., So, let’s get started.
Is It a Scam, or it’s Safe?
One of the important questions that you always ask about a broker is whether they are safe to trade with or they will scam the money right out of your pockets. On their main page, they claim to be a fully regulated broker.
Any European supervisory authority does not regulate them because they do not operate in Japan and countries within the European Union. It is, however, registered at the Financial Conduct Authority (FCA) and the CySEC. This makes them a fairly credible broker company.
The company has been allowed to operate by the Vanuatu authorization. They even state it on their website, adding to its credibility. Searching the internet for any bad cases of FXGlobe reviews showed that the company has had a fairly good reputation over the years.
Like all the other brokers, the FXGlobe review showed that opening an account with this broker was easy. You do this in several steps before you go through the verification process. To set up an account with them:
- Go to their main site at FXGlobe.com and click on the REGISTER button
- Fill in the blanks with the requested details.
- Fill in the blanks with the proof of residence
- Get verified
You can create an account with this broker in a few steps. They allow for many deposit and withdrawal methods the client can use. Most of the deposit and withdrawal methods that they use are international payment methods such as VISA/MasterCard, Bank Transfers, PayRetailers, and many other local payment solutions.
At the same time, they state that the minimum deposit amount you can have with them is $250.
Commissions and Fees
FXGlobe’s review ascertained that this forex broker does not charge any deposit or withdrawal fees. They also charge no fees for people that have inactive accounts
They charge commissions only for the CFDs. They do not charge commissions for the other instruments their client may trade with.
On the other hand, they offer raw spreads to their customers at a rate of 0.02, which means that their spreads are low. However, the spreads offered will also determine the type of account a client chooses. Their standard account has a spread of 1.60 pips but fluctuates depending on the market and instrument.
They offer leverages of up to 1:500 and give their customers a welcome bonus. The bonus is given upon the client depositing for the first time. The deposit bonus provided is 30% of the initial deposit made.
Types of Accounts
As earlier stated, this is an NDD type of broker. They have four types of accounts that they offer to their clients. These include:
- Standard Account
- Pro Account
- ECN Razor Account
- Razor Plus Account
These accounts vary in features, such as the minimum deposit required, commissions charged, and the trading platforms they offer.
FXGlobe’s review showed that they operate on the MT4 and MT5 trading platforms as their main platforms. These platforms can be used on mobile devices, the web, and PCs.
FXGlobe boasts of having over 70 instruments that their traders can trade with. These include over 50 currency pairs, cryptocurrencies, stocks, and CFDs.
During trading, customers are provided with several tools such as EA Robots that they can use to trade. They also offer resources such as News Spike Trading, which provides their clients with immediate and live news while they trade.
They allow their traders to make scalping trades and social trading. However, this depends on the account type a person may use.
There are two ways a client can get customer service, according to this FXGlobe review. They offer their customer services through phone and email alone. You cannot talk to them through other platforms or live chat.
This means that their response time is average. Calls are answered in a few minutes, and their email is answered within the day, but it’s always under 24 hours.
Nothing can be said about the FXGlobe review, but so far as it goes, it has been in operation long enough. They are a legit brokerage company that ensures traders’ funds are secured. If you linked this review, go ahead and open a trading account!
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