On-line since: About the company: Globtrex, operated by Coverdeal Holdings Limited, offers online trading on Forex, CFDs on stocks, bonds, indices, and commodities on two trading platforms.
Company. Security of funds Globtrex.com is a domain operated by Coverdeal Holdings Limited which is licensed (231/14) by the Cyprus Securities and Exchange Commission. The company was founded in Cyprus and has branches in the Czech Republic and Poland. However, their domains are no longer active. Thanks to its competitive tax regime, well-developed financial sector, and strict regulations, Cyprus has become a very popular hub among forex and binary options brokers. Companies licensed by CySEC must meet capital adequacy requirement of 730,000 euros. Besides, they are obliged to report transactions, keep client funds in segregated accounts and meet a number of other requirements. All CySEC regulated brokers are free to operate in all EU Member States and required to participate in the Investor Compensation Fund program. However, in its Client agreement Globtrex warns that the funds of some clients may be held in segregated accounts outside the EU and in the event of insolvency or any other analogous proceedings in relation to that bank, the money of such clients may be treated differently.
Trading Conditions Globtrex.com offers its clients three account types, all of which provide commission-free trading with leverage up to 1:200. Actually, much of the information about trading conditions on the different account types is unavailable on the broker’s website.
Minimum initial deposit In order to open an account with Globtrex.com, traders have to invest at least $100.
Spreads and commissions Although Globtrex.com claims to ensure floating spreads, a demo account has very high fixed spreads amounting to 3 pips for the EUR/USD pair. Leverage The maximum leverage level offered by Globtrex.com is 1:200 (for Forex) which is an average ratio. The default leverage level provided by the broker is in line with the latest CySEC guidelines.
Trading platforms Globtrex.com provides the MetaTrader 5 platform that has desktop and mobile versions. It also offers Sirix Webtrader. MT5 is an upgraded version of MT4. The platform has even more functions. But nevertheless, many brokers still prefer MT4, as its indicators and advisors (EA) are not supported on MT5. Recently, MetaTrader 5 has become more popular, and finally, the hedging option and a number of other improvements have been added. In addition, MetaQuotes said it would no longer release updates for MT4. The Sirix web platform is also very popular in the forex industry. It is user-friendly, requires no download, and has great social trading capacities. Investors are able to copy deals of other traders directly.
Analytics and news Globtrex.com suggests a rich Educational section with ebooks, videos and glossary. All these materials are available to any trader.
Support service The headquarters are located in Limassol, Cyprus. There is also a branch in Prague. Support specialists answer customer questions via phone and email. It does not offer online chat, though this method of communication is most preferred by traders. The website is available in English, Italian, Spanish, Polish, Czech, Slovenian, Croatian and Hungarian.
Payment options Globtrex.com supports bank cards, wire transfer, WebMoney and local transfers. Advantages:
Disadvantages:
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Globtrex isn't a good broker. I'm so guilty of trade with them because all my earned are gone due to their bad services. The customer support's attitude was bad when I called them asking about my withdrawal. I sent a withdrawal process a month before, but I didn't get the money credited to my account, yet they blocked all my profits. They said I couldn't withdraw my profit because I was against their trading rules. I have no idea which rules I am against. I was just trading, earning money, and they called it against the rule. My advice, stay away from this broker. Globtrex is cheater.
Globtrex isn't a good broker. I'm so guilty of trade with them because all my earned are gone due to their bad services. The customer support's attitude was bad when I called them asking about my withdrawal. I sent a withdrawal process a month before, but I didn't get the money credited to my account, yet they blocked all my profits. They said I couldn't withdraw my profit because I was against their trading rules. I have no idea which rules I am against. I was just trading, earning money, and they called it against the rule. My advice, stay away from this broker. Globtrex is cheater.
I really like to trade with Globtrex. They have amazing bonuses all the time and applied bonuses immediately and provided for quick withdrawals. I have increased my equity balance and have enjoyed the use of their signal service, which is very helpful compared to others in the market.
This is pure scam broker and I do not recommend it. Stay away from globtrex, broker is scam and wants your money. So if you want to trade with a thief, go ahead and trade with them. Once you get trouble with this broker, the customer support will not help you nor assist to solve your problem. They are useless at critical times. Be careful. I warned you and please think a million times before considering this broker. I speak based from what I experienced with this broker.
I have suffered a lot with GCI Financial's ACTTRADER platform. As this platform didn't execute in a timely and my orders go slippage position, also their price quote isn't live. So I can't customize an EA. Now I decided to leave GCI Financial and make a withdrawal request.
I am preferring to trade Globtrex's platform, As I've found live prices quote and perfect execution on the platform. Also, their fixed spread is the best option for scalping trade. Thatswhy I can earn $200 so far and I have withdrawn this money from their local IB to cash. Overall, I am satisfied with Globtrex Broker's outstanding service.
I was supposed to start an account with Globtrex but I did not push through because I had a horrible experience with one of their customer care representatives. He was rude and impatient. I was only asking for assistance in opening an account but he got mad and told me that I should look at the FAQs first before asking them. I give importance to customer-company relationship so when that happened, I decided not to open an account anymore.
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