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Globtrex


On-line since: 2014
Country of origin: Cyprus
Regulation: CySEC
Payment options: wire transfer, bank cards, electronic payment systems
Minimum account size: $100
Minimum lot size: 0.01 lot
Leverage: up to 1:200
Spreads: fixed

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 However, their domains are no longer active.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:

  • regulated broker;
  • a wide choice of trading platforms;
  • extensive product portfolio.

Disadvantages:

  • high fixed spreads.

Globtrex 1/10 (votes 2241)
Autor de Globtrex: Zulema | Data de  2021-01-12
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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