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Globex360 Review

Author By Jeffrey Cammack
Updated: September 23, 2021
Overall Rating
2.72 2.72 / 5
Min. Deposit
USD 100
Regulators
Trading Desk
Trading Cost
USD 32
Website Language
English
Support Language
English
Alert0 of retail investor accounts lose money when trading CFDs with this provider

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Summary

We do not recommend Globex360 due to the numerous complaints and high cost of trading.  We encourage traders to check out Plus500 & AvaTrade as possible alternatives.

Globex360 minimum deposits start at 100 USD, but trading costs are expensive. Spreads are wide, starting at 2 pips on the basic account. A large commission per trade is also charged on all accounts, which is unusual for a broker with such wide spreads. Full spreads are not published.

In addition, while Globex360 states that withdrawals are free, we have received multiple claims that deposits do not reflect to trading accounts and withdrawals do not reflect to bank accounts. Clients have also complained that customer service is extremely poor, or non-existent when it comes to funding issues.

 

Reviews

Regulation
111003/ 5
Trading Conditions
110002/ 5
Trading Platforms
111104/ 5
Deposit & Withdrawal
100001/ 5
Education & Research
110002/ 5
Assets Available
1110.503.5/ 5
Customer Service
111003/ 5
Beginner Friendly
Poor
Bonuses
100% deposit bonus

Account Information

Base Currencies
ZAR, USD
Number of FX Pairs
50
Copy Trading
Hedging Allowed
Scalping Allowed
Islamic Acct

Trading Conditions

Min. Spread
1.20 pips
Commission
8 USD/lot
EUR/USD
0 pips
GBP/USD
0 pips
USD/JPY
0 pips
Max. Leverage
400:1

Company Details

Company Name
Globex360 (PTY) LTD
Founded
2017
Office Locations
South Africa

Pros

  • Tight spreads
  • Great customer support

Cons

  • MT4 only
  • Limited demo account
  • No swap-free account option
  • High minimum deposit

Is Globex360 Safe?

Globex360 was founded in 2017 in Johannesburg and has been regulated by the South African FSCA since 2019 under FSP #50130. The FSCA has brought in a new licence for South African brokers called the ODP licence, but it is unclear if Globex360 has applied for this yet.

Globex360 is an STP broker and operates without a dealing desk – though trade execution on Basic Accounts is instant, insinuating an automated dealing desk of some kind. Standard and Professional Accounts are both market execution. 

Globex360 does not offer negative balance protection, stating that Negative balance protection is not guaranteed. The general practice is that we cover the negative balance, but all cases are reviewed on a case-by-case basis.”

We have received many complaints from South African traders with a Globex360 login regarding deposit and withdrawal issues. We cannot prove that any of these allegations are true, but traders should be very careful when choosing a Forex broker.

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Group Regulators
Trading Desk
Website
Year Founded
Office Locations
Inactivity Fee
FSCA
STP
2017
South Africa
Yes

 

Should I trade with Globex360?

We do not recommend Globex360.

Even if the allegations of funding problems are untrue, Globex360’s trading costs are unreasonably high and its Forex education is poor. Even though Globex360’s minimum deposit is quite low at 100 USD, it does not publish its complete spreads and the only platform available is MT4. 

We recommend choosing another broker from one of our lists: 

We only recommend well-regulated, honest brokers with good trading conditions. 

Alert0 of retail investor accounts lose money when trading CFDs with this provider
Scroll for more detailsPreviousNext
Overall Rating
Min. Deposit
Regulation
Trading Desk Type
Trading Instruments
Forex Pairs
Crypto Pairs
Pros
Cons
Regulation
Trading Conditions
Trading Platforms
Deposit & Withdrawal
Education & Research
Assets Available
Customer Service
% Lose with this broker
Leverage
Spread
Hedging
Scalping
Account Types
Islamic Acct
Trading Platforms
Funding Methods
Trading Commission
110.5002.72/ 5
USD 100
STP
Forex
Indices
Commodities
Stock CFDs
50
0
  • Tight spreads
  • Great customer support
  • MT4 only
  • Limited demo account
  • No swap-free account option
  • High minimum deposit
111003/ 5
110002/ 5
111104/ 5
100001/ 5
110002/ 5
1110.503.5/ 5
111003/ 5
0 of retail investor accounts lose money when trading CFDs with this provider
400:1
1.20 pips
Basic
Professional
Standard
Visa
Mastercard
Maestro
Neteller
Skrill
Bitcoin
8 USD/lot
11110.54.09/ 5
GBP 100
Market Maker
Commodities
Cryptocurrencies
Forex
Indices
Stock CFDs
ETFs
70
9
  • Well regulated
  • Wide range of assets
  • Limited education
  • Limited account options
111115/ 5
111003/ 5
111104/ 5
11110.54.5/ 5
1110.503.5/ 5
11110.54.5/ 5
11110.54.5/ 5
72% of retail investor accounts lose money when trading CFDs with this provider
30:1
0 pips
Standard
Plus500
Bank Transfer
Visa
Mastercard
Skrill
Paypal
Fees Included in Spread
11110.54.48/ 5
GBP 100
Market Maker
Commodities
Cryptocurrencies
Forex
Indices
Stock CFDs
ETFs
55
18
  • Good for beginners
  • Well regulated
  • Low minimum deposit
  • Dealing desk
  • Limited market analysis
111104/ 5
111115/ 5
11110.54.5/ 5
11110.54.5/ 5
111115/ 5
11110.54.5/ 5
111104/ 5
72% of retail investor accounts lose money when trading CFDs with this provider
30:1
0.90 pips
Islamic
Professional
Retail
Avatrade Social
POLi
Visa
Mastercard
Skrill
Neteller
Paypal
Bank Transfer
Fees Included in Spread
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