Globex360 is a Forex broker in South Africa, that opened for business in February of 2019. They are licensed and regulated in South Africa by the FSCA.
Traders with withdrawal problems & complaints should read this.
Investors at Globex360 are given access to the MT4 trading platform, which has a Desktop trading app, or a web-based trading app. For mobile trading, Globex 360 developed their own custom trading apps for Android & iOS. They offer a wide variety of assets to trade including; Forex / Currency pairs, Commodities (oil, gold silver), Indices and CFD’s for shares trading.
The maximum Leverage / Margin rate offers is 300:1, and the starting spreads range from 1.3 pips to 1.6 pips. You can create multiple demo trading accounts to test out the platform and your trading strategies. The minimum required deposit for a the standard account is $100, and $200 for the Copy trading account. At a broker like ForTrade, you can start trading with just $100.
Social / Copy Trading
Once you have created your account, and logged in, you will see that Globex360 provides you will access to their Copy Trading system. Copy Trading is a popular feature for new Forex investors because they are hoping another Forex trader will do the hard work for them.
When choosing the right copy trader, it is important to closely analyze the performance, and even more so, understand the terminology. Instead of looking at the traders with this highest returns, dig deeper, and check their drawdown stats. See the screenshot below.
Warning! Do Not use an Automated trading app, until you read this!
Is Globex360 a Legit Broker?
Yes, Globex360 is an FSCA regulated CFD broker, with license number 50130, since July 10th 2019. You can see their official license on the FSCA website.
Officially owned and operated by: Globex360 (PTY) LTD, their corporate address is; 67 Mountain Road, Somerset West, Cape Town, Western Cape, 7130 South Africa. Their offices are located at: 158 5th Street, 3rd Floor, Sandton Office Towers, Sandhurst, Sandton, 2196, Gauteng. Contact phone number is: +27100090512.
The way day traders know if their broker is legit and not a scam, is by verifying their license at the government regulator. When you see that they have a valid license, from your government financial regulator, then you will know that they are a legal broker.
Compare Top Brokers
There are many Forex brokers online, and they are all vying for your business. You should test out a few different brokers, and see which one is the best for your trading needs. Always verify that your broker is licensed by your local financial regulator (i.e. FCA United Kingdom).
They have a nice trading app plus Free Demo Accounts. Learn more at: ForTrade.com.
What was your trading experience like with the brokers at Globex360? Write your review in the comment section below.