Your capital is at risk.
PALM Global Capital Review 2024
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
- $100
- MT4
- SCB
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
- $100
- MT4
- SCB
Our Evaluation of PALM Global Capital
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
PALM Global Capital is a broker with higher-than-average risk and the TU Overall Score of 3.18 out of 10. Having reviewed trading opportunities offered by the company and reviews posted by PALM Global Capital clients on our website, Traders Union expert Anton Kharitonov recommends users to consider a more reliable broker with better conditions, as, according to reviews, many clients of this broker are not satisfied with the company’s work.
PALM Global Capital is a reputable brokerage firm with official registration and regulation. It has been in operation for many years, offering clients a variety of trading instruments and favorable cooperation conditions. Spreads are competitive or better than the market average, with fees only on ECN accounts which are at reasonable levels. The platform has no restrictions on trading styles and methods and provides quality educational courses for beginners. Unfortunately, clients of this broker cannot earn passively, and only two channels are available for deposit and withdrawal – bank accounts and cryptocurrency wallets.
Brief Look at PALM Global Capital
PALM Global Capital is a Forex and CFD broker that offers one demo and four user accounts. Its clients can trade currency pairs as well as contracts for indices, commodities, precious metals, cryptocurrencies, and energy products. The minimum deposit is $100, and leverage of up to 1:200 is available. Spreads are variable on all accounts and start from 0.17 pips. The only fee is applied to ECN accounts. Traders can hedge, scalp, trade the news, and use expert advisors. Deposits and withdrawals can be made via bank transfer and cryptocurrency. For withdrawals over $250, this broker covers the bank fee, ensuring no cost to the client. Trading is conducted through the MetaTrader 4 platform. This website offers numerous educational materials for beginners, and technical support operates 24/5.
- Access to 40 currency pairs and dozens of contracts for differences on indices, precious metals, commodities, energy products, and cryptocurrencies;
- Floating spreads starting at 0.17 pips, with no trading fee (except for ECN accounts);
- Moderate leverage up to 1:200, which significantly increases a trader's profit potential;
- Free demo accounts, with a minimum deposit of just $100 for a Standard live account;
- Withdrawals over $250 are not subject to bank commission fees;
- Deposits can be made in USD, EUR, and GBP, with no restrictions on trading styles and methods;
- Technical support is available 24/7 through a call center, email, and website tickets.
- Clients can only deposit and withdraw funds via bank transfer or cryptocurrency;
- No alternative income methods are available; so, traders profit solely through manual trading;
- Some users may prefer trading platforms other than MT4, but they are not offered here.
TU Expert Advice
Financial expert and analyst at Traders Union
PALM Global Capital Broker has been operating for several years. It is officially registered in the Bahamas and regulated by the Securities Commission of the Bahamas under license number SIA-F191. In other words, there are no questions about the legality and transparency of the platform. Technical support is available through several efficient communication channels and operates around the clock on weekdays.
The trading conditions offered by this broker are standard. The available assets include currency pairs, CFDs on indices, precious metals, commodities, energy resources, and cryptocurrencies. The variety of financial instruments is sufficient for building a diversified investment portfolio. Moreover, a leverage of 1:200 is ample to significantly enhance profit potential.
Trading costs depend on the type of account. For example, on a Standard account, spreads start from 1.57 pips, while on an ECN account, they begin at 0.17 pips. Fees are only applicable to ECN accounts, amounting to $6 per lot, which is a reasonable figure. There are no fees for deposits or withdrawals, and if a trader withdraws more than $250, this broker compensates for the bank's fee, which is highly advantageous. The only aspect to consider is that deposits and withdrawals are only possible via bank transfers and cryptocurrency wallets, with no other methods available.
Furthermore, the platform does not offer any form of passive income, which is quite surprising as most brokers today provide at least PAMM accounts or copy trading options. However, PALM Global Capital has an excellent educational system, offering textual materials, video tutorials, and hosted webinars and masterclasses regularly. Traders can even opt for personalized training. Therefore, even if a user starts with no knowledge of financial markets, this broker can significantly elevate their skill level within a couple of months.
A relative drawback is that trading can only be conducted through the desktop and mobile versions of the MetaTrader 4 platform. Other solutions are not available. Nonetheless, even though platforms like MT5, cTrader, and rTrader have their fan base, MetaTrader 4 is recognized by experts as the most versatile solution. One of the main reasons is the availability of numerous plugins that facilitate trading and the inclusion of built-in tools. Considering all factors, PALM Global Capital Broker can be recommended for collaboration.
PALM Global Capital Summary
Your capital is at risk. Your capital is at risk. 79.43% of retail investor accounts lose money when trading CFDs with this provider. PALM Global Capital and its affiliates do not target EU/EEA/UK clients. It is the user's responsibility to ensure that any use of the website or services adhere to local laws or regulations. Please be aware that you are able to receive investment services at your own exclusive initiative only, ensuring you fully understand all the risks involved.
| 💻 Trading platform: | MT4 |
|---|---|
| 📊 Accounts: | Demo, Standard, Gold, VIP, ECN |
| 💰 Account currency: | USD, GBP, EUR |
| 💵 Replenishment / Withdrawal: | Bank transfers, cryptocurrency wallets |
| 🚀 Minimum deposit: | $100 |
| ⚖️ Leverage: | Up to 1:200 |
| 💼 PAMM-accounts: | No |
| 📈️ Min Order: | 0.01 |
| 💱 Spread: | From 0.17 pips |
| 🔧 Instruments: | Currency pairs, CFDs on indices, precious metals, energy commodities, cryptocurrencies, and other commodities |
| 💹 Margin Call / Stop Out: | N/A |
| 🏛 Liquidity provider: | N/A |
| 📱 Mobile trading: | Yes |
| ➕ Affiliate program: | No |
| 📋 Orders execution: | Market execution |
| ⭐ Trading features: |
Free demo account and four user accounts, Low entry threshold, A variety of asset types, Moderate leverage, Top-tier trading platform, No passive income options, High-quality education in various formats |
| 🎁 Contests and bonuses: | Yes, including TU rebates |
Brokers that offer multiple user accounts with varying conditions also have different minimum deposit requirements. PALM Global Capital is no exception. To open a Standard account, a minimum deposit of at least $100 is required. For a Gold account, a minimum of $1,000 is needed, while a VIP account requires $5,000, and an ECN account demands $10,000. The leverage for all accounts is the same; differences depend on the traded asset, with a maximum leverage of 1:200 available for currency pairs. Technical support is available around the clock, even at night, but only on weekdays. You can contact the managers by phone, email, or through tickets on this website.
PALM Global Capital Key Parameters Evaluation
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Trading Account Opening
To initiate collaboration with this broker, register on its official website, go through the verification process, open an account, and fund it. Additionally, download the appropriate version of the MetaTrader 4 trading platform. TU experts have prepared the below step-by-step guide to address many questions regarding this process. They also introduce you to the key functions of the trader's user account.
Go to this broker's website. In the upper right corner, click on the "Sign Up" button.
Enter your first and last name, email address, and phone number. Agree to the terms of collaboration by checking the box at the bottom. Click “Confirm".
Your user account has been created. Login credentials for the MetaTrader 4 demo account will be sent to the provided email address. At this stage, you can already access the platform to begin trading with virtual currency in demo mode.
Go to the user account by clicking "My Account." You can also click "Homepage" to go to the main page of this website. There, click on the "myPALM Global Capital" button. Next, enter the login and password provided in the email sent to your mailbox.
In the myPALM Global Capital user account, go to the "Create a Live Account" tab. Select the account type and currency, then click “Next".
Enter your date and place of birth, nationality, residency, full address with postal code, and other details. After filling in the next section, click «Next."
Once you have filled in all the sections, complete the verification process. To do this, click on the "Upload Supporting Documents" button.
Select the account for which you are verifying your identity. Specify the type of document and upload its photo/scan. Click on "Upload File" and provide any other required documents. Wait for the verification process to be completed.
Hover over the "My Wallet" section in the menu and select "Deposit". Then choose the deposit channel — either bank transfer or cryptocurrency wallet. Enter the required information according to the selected channel, then wait for the funds to be credited to your account.
Download the MetaTrader 4 trading platform. You can do this on this broker's website or on the MT portal. Install the platform on your device, enter your registration data, and start trading.
Sections within the PALM Global Capital user account:
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"My accounts". This section serves as a dashboard, providing essential information regarding the trader's active accounts;
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"My wallet”. In this section, users can manage deposits and withdrawals, conduct internal transfers, and review transaction histories;
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"Transactions". Here, all of the trader's account-specific transactions, both current and completed, are displayed;
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"Documents". This section facilitates the verification of the client's identity as required by the KYC protocols;
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"Create a live account". An option for opening a new user trading account; registration automatically includes a demo account;
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"My profile". Users can access this section to edit their basic information and contact details.
Regulation and safety
When it comes to the safety of a brokerage platform, guarantees can only be provided through official registration and regulation. PALM Global Capital Ltd, the owner of the PALM Global Capital brand, is registered in the Bahamas. This means it operates legally and is accountable to the tax authorities. Additionally, this company holds a verified license from the Securities Commission of the Bahamas. Regulation signifies that this broker PALM Global Capital fulfills its obligations to its clients, and its activities are transparent. In extreme cases, a trader can always turn to the regulator, which will protect their interests.
Advantages
- This broker is officially registered
- Regulation available
- Contact Traders Union’s legal department for a consultation and representation. It protects its members’ rights without charge.
Disadvantages
- Outside of the Bahamas, a trader may not have protection from local financial authorities
Commissions and fees
| Account type | Spread (minimum value) | Withdrawal commission |
|---|---|---|
| Standard | 15$ | No |
| Gold | 11.7$ | No |
| VIP | 7.7$ | No |
| ECN | 1.7$ | No |
Regarding withdrawal fees, the platform itself does not charge any fees. However, the associated bank used by the trader may apply its fees. But here's a way to circumvent such bank fees: if your withdrawal exceeds $250, this broker will completely cover them. Furthermore, when withdrawing to cryptocurrency wallets, there are no fees.
To assess the platform's convenience, it's essential to compare its terms with those of its competitors. The table below presents information on the average trading fees for PALM Global Capital and two other brokers.
| Broker | Average commission | Level |
|---|---|---|
|
$9.02 | |
|
$1 | |
|
$8.5 |
Account types
First, traders select the account type that best suits their preferences. PALM Global Capital offers various account types that differ mainly in minimum deposits, spread types and lot sizes, and the presence or absence of trading fees. Account currency, minimum and maximum trade sizes, and leverage ratios are consistent across all accounts. The general rule is straightforward: higher minimum deposits correspond to lower spreads on the account. For ECN accounts, an additional fee is applied, as they are the only account type with raw spreads. Traders can access all available assets, with no choice of trading platform since PALM Global Capital offers MetaTrader 4 exclusively. Therefore, traders should base their choices on their financial capacity, strategic preferences, and trading aspirations.
Accounts Types:
For traders who haven't previously worked with this broker, it is advisable to start by opening a demo account to explore the platform and refine their trading strategies. If the user is satisfied, they can then proceed to open their preferred user account and commence full-fledged trading.
Investment Options
Traders come to brokerage platforms to trade independently, but alternative earning options can also pique their interest. For this reason, some companies offer services like copy trading, joint accounts such as PAMM and MAM, and regular referral programs and IB partnership programs. However, the absence of such possibilities cannot be considered a drawback. Clients of PALM Global Capital Broker earn solely through active trading, and they are quite satisfied with this arrangement.
If you are a large investor and plan on investments over $10,000, contact us at vip-invest@tradersunion.com or by the feedback form on our website. Our professional team will take you through all the intricacies of the deal and all the steps from signing up to withdrawal of profits.
Customer support
What would be the impact on my losses if I convert fiat funds to BTC? Why is there a minimum deposit limit of $150 from my bank account when the Standard account's minimum deposit is $100? What login credentials should I use for accessing the trading platform? Traders often have various queries. Is it due to their lack of attention while perusing the information on this website? Or is there a genuine issue that might result in financial loss? Regardless of the cause, in any dispute, traders reach out to the technical support team, while expecting a prompt and knowledgeable response. If the support team responds slowly or proves unhelpful, clients may become disappointed and switch to another broker. To prevent such scenarios, PALM Global Capital offers its users high-quality technical support that is reachable via phone, email, or the website's ticket system. The service is available around the clock but exclusively on weekdays.
Advantages
- Assistance is available to both registered and unregistered users
- Technical support operates 24/5
- Several communication channels to the support team are available
Disadvantages
- Support does not work on the weekend
If you are already working with PALM Global Capital or are considering becoming their client, don't hesitate to seek help from their technical support team in any unclear situation.
Here are the current contact channels:
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Phone;
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Email;
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Ticket on the page.
Notice that this broker also has four additional email addresses for specific inquiries, which can also be found at this link.
Contacts
| Registration address | Trinity Place Annex, Corner Frederick and Shirley Streets, Nassau, Bahamas |
|---|---|
| Regulation |
SCB
Licence number: SIA-F191 |
| Official site | https://www.destekfxcapital.com/ |
| Contacts |
+44 203 1502654, +90 850 7112020
|
Education
Some brokers offer clients training of various levels, including specialized courses for professionals. However, most often, the training is geared towards users with minimal or even no prior experience. On the PALM Global Capital website, alongside the standard FAQs and trader's glossary, there is a large section with educational materials. Moreover, every trader, upon request, can access video guides from market experts. Lastly, this broker regularly conducts webinars and provides mentorships for an additional fee. In terms of comprehensiveness and depth, PALM Global Capital boasts one of the best educational systems among representatives in this field.
Novice and intermediate traders will undoubtedly find a lot of useful information on the PALM Global Capital website, including analyses of specific trading styles and methods. For professionals, there is information as well, but it is significantly less.
Comparison of PALM Global Capital with other Brokers
| PALM Global Capital | RoboForex | Pocket Option | Exness | FxPro | XM Group | |
| Trading platform |
MT4 | MT4, MT5, R MobileTrader, R StocksTrader, R WebTrader | Pocket Option, MT5, MT4 | Exness Trade App (mobile), Exness Terminal (web), MetaTrader5, MetaTrader4 | MT4, MobileTrading, MT5, cTrader, FxPro Edge | MT4, MT5, MobileTrading, XM App |
| Min deposit | $100 | $10 | $5 | $10 | $100 | $5 |
| Leverage |
From 1:1 to 1:200 |
From 1:1 to 1:2000 |
From 1:1 to 1:1000 |
From 1:1 to 1:2000 |
From 1:1 to 1:500 |
From 1:1 to 1:30 |
| Trust management | No | No | No | No | No | No |
| Accrual of % on the balance | No | No | No | No | No | No |
| Spread | From 0.2 points | From 0 points | From 1.2 point | From 1 point | From 0 points | From 0.6 points |
| Level of margin call / stop out |
No | 60% / 40% | 30% / 50% | No / 60% | 25% / 20% | 100% / 50% |
| Execution of orders | Market Execution | Market Execution, Instant Execution | Market Execution | Market Execution, Instant Execution | Market Execution | Market Execution |
| No deposit bonus | No | No | No | No | No | No |
| Cent accounts | No | Yes | No | No | No | Yes |
Detailed review of PALM Global Capital
PALM Global Capital Ltd is a globally recognized and regulated financial institution that provides brokerage services. The platform's infrastructure operates reliably, with a focus on microservices architecture and innovative solutions like virtual servers. Client funds are securely segregated from this company's assets, and there is a strong emphasis on quality education and professional analytical tools. This broker prioritizes transparency and does not have any concealed fees.
PALM Global Capital by the numbers:
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Four user accounts and one demo account are available;
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A minimum deposit requirement of $100;
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A minimum spread of 0.17 pips (on ECN accounts);
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Maximum leverage of 1:200;
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Technical support available 24/5.
PALM Global Capital is your convenient Forex and CFD broker
The platform offers a wide range of assets, including currency pairs, as well as contracts for indices, precious metals, energy resources, cryptocurrencies, and commodities. This diversity of financial instruments allows traders to implement various trading strategies with minimal constraints. This broker accommodates different trading styles, including the use of expert advisors and copy trading. With a leverage ratio of 1:200, which experts consider optimal, traders can enhance their profit potential without significantly increasing their direct risks, as seen with higher leverages. The platform's convenience is further enhanced by its top-tier trading platform, MetaTrader 4, which is highly customizable and supports hundreds of free plugins.
Useful functions of PALM Global Capital:
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Spread overview. This tool provides real-time information on spreads for assets traded on the platform, with data updates occurring every minute throughout the day with minimal delays. Notably, it offers two spread indicators for each asset – the average spread and the spread during the current European session.
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Product characteristics. This service presents a table categorized by types of tradable assets, simplifying navigation. It lists the minimum lot size and maximum allowable leverage for each asset, including the minimum and maximum sizes for contracts for price differences.
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Trading guides. In this section, traders can access thematic articles that provide detailed explanations of various aspects of trading on international financial markets. Additionally, the platform offers educational resources such as FAQs, glossaries, video guides, and personalized instructions.
Advantages:
This broker is regulated and officially registered, ensuring transparency in its dealings with clients;
It offers a low entry threshold, with competitive trading costs that are often more favorable than those of its competitors in several aspects;
Clients benefit from a wealth of educational materials and up-to-date market summaries;
Trading takes place through the user-friendly MetaTrader 4 platform, which supports easy customization and personalization with plugins;
This company provides quality technical support and addresses all inquiries promptly within its 24/5 schedule.
User Satisfaction