GlobeX360 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
- MetaTrader4
- FSCA
- CIPC
- 2008
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
- MetaTrader4
- FSCA
- CIPC
- 2008
Our Evaluation of GlobeX360
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
GlobeX360 is a broker with higher-than-average risk and the TU Overall Score of 4.49 out of 10. Having reviewed trading opportunities offered by the company and reviews posted by GlobeX360 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.
GlobeX360 is a broker for active trading, passive investing, and is focused on cooperation with traders from African countries.
Brief Look at GlobeX360
GlobeX360 is a broker established in 2017 that focuses on traders from the African continent. It is a provider of online trading services for Forex and CFDs on stocks, indices, cryptocurrencies, and commodities. GlobeX360 is registered with the Companies and Intellectual Property Commission (CIPC) and is regulated by the South African Financial Sector Conduct Authority (FSCA, 50130). In 2020, International Business Magazine was named Fastest Growing Forex Broker and Most Innovative Broker.
- There is a wide range of currency pairs and CFDs to trade.
- It is regulated by South Africa’s supervisory authority.
- It has an average minimum deposit on Standard accounts.
- It keeps clients’ funds in segregated bank accounts.
- Investment offerings: You can connect to the MAM service, copy trading signals from MQL5.com, use Expert Advisors for automated trading.
- It provides clients with access to free services with useful market information and analytics, including from TradingView.
- It offers free online courses and training webinars from professional traders.
- High spreads on all trading account types.
- No negative balance protection.
- The broker does not work with residents of the USA, Belgium, or Canada.
TU Expert Advice
Financial expert and analyst at Traders Union
GlobeX360 is a newcomer to the Forex market. However, in a short time, this broker has already managed to open several representative offices not only in African countries, on which it focuses but also in South America and Australia. The company allows clients to make deposits in both local currencies and GBP, EUR, USD, CHF, as well as open multiple accounts in different currencies, and then easily transfer money between them.
GlobeX360 offers a wide range of currency pairs and CFDs, high leverage, and an MT4 terminal. However, the broker’s spreads are not the lowest on the market. Even on professional accounts, they start at 1.2 pips. Considering that other companies keep almost zero spreads, GlobeX360 is inferior to them in terms of optimal trading conditions.
The broker strives to ensure the safety of its clients and their funds. At the initial stage of cooperation, the trader is provided with leverage of up to 1:300. Only in the process of trading can he request leverage of up to 1:500. At the same time, the GlobeX360 risk department constantly monitors the trade of all clients. If a trader exceeds the acceptable risk indicators, then the company reduces the leverage on his account.
GlobeX360 Summary
| 💻 Trading platform: | MetaTrader 4 (desktop, mobile) |
|---|---|
| 📊 Accounts: | Demo, Standard, Professional, Islamic |
| 💰 Account currency: | USD, EUR, GBP, ZAR, KWD |
| 💵 Replenishment / Withdrawal: | Credit/debit cards Visa and Mastercard, bank transfer through local and international banks in South Africa (SWIFT), Neteller, Skrill, Wallettec, Instant Deposit, E-wallet, Elipa Uganda, Elipa Tanzania, etc. |
| 🚀 Minimum deposit: | From $100-$5,000 |
| ⚖️ Leverage: | up to 1:500 |
| 💼 PAMM-accounts: | Yes |
| 📈️ Min Order: | 0.01 |
| 💱 Spread: | From 1.6 points (Standard); from 1.2 points (Professional) |
| 🔧 Instruments: | Currency pairs (50), CFDs on indices (8), commodities (15), cryptocurrencies (5), stocks (20) |
| 💹 Margin Call / Stop Out: | 100%; 30% |
| 🏛 Liquidity provider: | Leading banks of South Africa |
| 📱 Mobile trading: | Yes |
| ➕ Affiliate program: | Yes |
| 📋 Orders execution: | Market execution |
| ⭐ Trading features: | There are Islamic accounts; you can trade cryptocurrencies; there are no additional trading fees (they charge only against the spreads) |
| 🎁 Contests and bonuses: | Yes |
The GlobeX360 broker currently provides only Standard and Professional accounts, Using these accounts you can trade 98 financial instruments. Islamic traders can work with Islamic accounts without swap fees. Retail clients can start trading from $100, professionals from $5,000. The standard leverage is 1:100 to 1:300. However, a broker, upon an individual request, can provide a client with leverage of up to 1:500.
GlobeX360 Key Parameters Evaluation
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Trading Account Opening
In this section, you will find a brief instruction on how to start trading with GlobeX360 and a description of the functionality of the personal account. The main stages of registration with the broker’s website:
Click Start Trading.
Fill out the registration form. Enter your personal data (name, surname, date of birth, address) and the purpose of the trade (speculation, hedging, investing, and intraday trading). Specify the frequency of your trades over the last 12 months, select the trading account currency and leverage, and finally create a strong password.
Sign in to your personal account.
Additional functionalities of your GlobeX360 personal account:
Also, in your personal account, a trader can:
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Go through verification.
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Download MT4 and change the password.
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Open a demo account.
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Transfer funds between accounts.
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View messages from the system.
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Edit personal information.
Regulation and safety
GlobeX360 is regulated by the Financial Sector Conduct Authority (FSCA), the main supervisory authority for financial markets in South Africa.
The legal name of the broker is Globex 360 Proprietary Limited or Globex360 (PTY) LTD. It is licensed as a Financial Services Provider (FSP 50130). In 2018, GlobeX360 was registered with the Companies and Intellectual Property Commission (CIPC), an agency of the South African Department of Trade and Industry.
Advantages
- Keeping customer funds in segregated accounts, that is, separately from the capital of the broker
- High data security thanks to the use of SSL cryptographic protocol
- The regulator strictly controls the financial performance of the broker
Disadvantages
- The broker does not participate in any compensation fund
- No negative balance protection
- The regulator requires all customers to go through a strict verification procedure (KYC)
Commissions and fees
| Account type | Spread (minimum value) | Withdrawal commission |
|---|---|---|
| Standard | from $16 | Applied on the payment systems side |
| Professional | from $12 | Applied on the payment systems side |
There are swaps commissions for moving a position to the next day. Also, Traders Union’s specialists calculated the average commission for trading with GlobeX360, and then compared it with the indicators of other Forex brokers such as RoboForex and FxPro. All the values obtained are shown in the table.
| Broker | Average commission | Level |
|---|---|---|
|
$14 | |
|
$1 | |
|
$8.5 |
Account types
GlobeX360 offers retail and professional clients traditional accounts. Muslim traders are offered their Islamic counterparts, but with a slightly different principle of calculating trading commissions. The execution type for all account types is Market execution, and the stop-out level is 30%.
Account types:
The broker provides an opportunity to open a demo account, from which you can trade through any of its terminals.
GlobeX360 strives to meet the trading needs of every trader, regardless of their experience, prosperity, and location.
Deposit and Withdrawal
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Available withdrawal methods: Visa and Mastercard, bank transfer (domestic within South Africa and international SWIFT), Neteller, Skrill, Wallettec, Instant Deposit, E-wallet, Elipa Uganda, Elipa Tanzania, and other local payment systems.
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The company’s employees process all withdrawal requests within 24 hours and only on weekdays. Money is credited to a bank account within 3-7 business days, to credit/debit cards within 8 business days. Funds are credited to electronic wallets on the day of application or the next business day.
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Money is paid only in the way and to the account/card/wallet from which they were transferred. Payments from third parties are not allowed.
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There is no commission for withdrawing funds on the broker’s part. Payment systems and banks charge withdrawal fees in compliance with their internal terms and conditions.
Investment Options
Investment Programs, Available Markets and Products of the Broker
The GlobeX360 broker offers investors standard solutions that are available in the MT4 terminal. Its clients can copy trades after following a signal provider, they can connect to the MAM service, and also use robotic advisors for automated trading. The company does not offer ready-made diversified portfolios of assets, however, experienced investors can form them on their own from instruments of varying volatility. The referral program is also good to earn additional income.
GlobeX360’s solutions for passive investors
GlobeX360 provides its clients with an MT4 terminal, the functionality of which allows you to earn money without independent trading. The choice of an investment program primarily depends on the experience and knowledge of the investor, as well as on the preferred method of trading, which includes the help of a person or an algorithmic program. So, to receive passive income, a GlobeX360 client can choose:
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MAM service. With the help of a Multi-Account Manager, both an investor and a successful trader who has become a manager of several accounts can earn money. MAM works like this: the investor makes a deposit and connects to the manager’s account; after this, his transactions are copied to the subscriber’s accounts. After a successful transaction, the manager receives a part of the investor’s profit.
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Signals from the MQL5.com website. The investor connects to the social trading service and selects a provider whose signals are copied to his account. As in the previous case, not only a passive market participant but also an active trader with a successful trading strategy can earn additional income here.
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Expert Advisors (EAs). It is a solution for investors who trust a trading robot rather than a living person. GlobeX360’s clients can install Expert Advisors for automated trading from various developers.
Investing in MAM and connecting to the trade copy service is available to all GlobeX360’s clients. At the same time, only a trader who demonstrates a stable increase in the deposit can become a signal provider, and only a professional market participant can become a MAM manager. The use of Expert Advisors is allowed on both Standard and Professional accounts.
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.
GlobeX360’s affiliate program
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Business Referrers (BR) and the IB (Introducing Brokers) programs are for companies and individuals who can attract new customers to GlobeX360. The partner receives a commission for each transaction closed by the referral - up to $7 per lot. According to the company, currently, the most active BRs earn more than $30,000 per month.
To become a member of the Business Referrers, you need to open an IB Account. For the most effective promotion, BRs and IBs receive ready-made advertising materials such as links, logos, banners, and landing pages.
Customer support
Chat operators answer users’ questions from 9:00 to 17:00 (GMT +2) daily, except Saturday, Sunday, and holidays.
Advantages
- Online chat operators answer questions not only from customers but also from unregistered traders
Disadvantages
- The support service works in the 8/5 mode
- No number for international calls, only South Africa calls
- No callback system
This broker provides the following communication channels for its clients:
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via online chat on the website;
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via the phone number indicated in the Contact section;
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via email to support@globex360.co.za;
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fill out a feedback form in the Contact section.
The company has profiles on Facebook, Twitter, and Instagram, through which you can also ask a question to a technical support representative.
Contacts
| Foundation date | 2008 |
|---|---|
| Registration address | Globex360 (PTY) LTD., 3rd Floor Sandton Office Towers, 158 5th street Sandton, South Africa 2196 |
| Regulation | FSCA, CIPC |
| Official site | https://globex360.co.za/ |
| Contacts |
+27 11 568 3097
|
Education
All training materials on the GlobeX360 website are located in the Learn section. It consists of several blocks: Knowledge Base, Academy, FAQs, and Range Of Markets. However, the information is presented superficially and is designed for traders who need only the basics of Forex. For a more detailed study of the topic, the company offers online courses, webinars, and personal mentoring.
A demo account is considered as the tool for consolidating theoretical knowledge in practice. You can trade on this account using virtual funds, so you will not have any financial losses.
Comparison of GlobeX360 with other Brokers
| GlobeX360 | RoboForex | Pocket Option | Exness | Forex4you | Deriv | |
| Trading platform |
MetaTrader4 | MT4, MT5, R MobileTrader, R StocksTrader, R WebTrader | Pocket Option, MT5, MT4 | Exness Trade App (mobile), Exness Terminal (web), MetaTrader5, MetaTrader4 | MT4, MobileTrading, MT5 | Deriv bot, Deriv MT5, Derivix, Deriv Trader, SmartTrader |
| Min deposit | $100 | $10 | $5 | $10 | No | $5 |
| Leverage |
From 1:1 to 1:500 |
From 1:1 to 1:2000 |
From 1:1 to 1:1000 |
From 1:1 to 1:2000 |
From 1:10 to 1:2000 |
From 1:1 to 1:1000 |
| Trust management | No | No | No | No | No | No |
| Accrual of % on the balance | No | No | No | No | No | 1.00% |
| Spread | From 1.6 point | From 0 points | From 1.2 point | From 1 point | From 0.1 points | From 0 points |
| Level of margin call / stop out |
100% / 30% | 60% / 40% | 30% / 50% | No / 60% | 100% / 20% | 100% / 50% |
| Execution of orders | Market Execution | Market Execution, Instant Execution | Market Execution | Market Execution, Instant Execution | Market Execution, Instant Execution | Market Execution |
| No deposit bonus | No | No | No | No | No | No |
| Cent accounts | No | Yes | No | No | Yes | No |
Detailed Review of GlobeX360
GlobeX360 guarantees clients the full safety of their funds, the fastest possible execution of orders, and liquidity from institutional providers. The broker allows active and passive trading styles. Traders who opened an account here get access to all the necessary analysis and research tools, real-time quotes, and free personalized education from professionals.
GlobeX360 by the numbers:
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More than 4 years of providing financial services in the Forex market.
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Representative offices and partners in 6 countries.
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There are 5 asset classes available for trading.
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The average order execution is 0.5 milliseconds.
GlobeX360 is a broker that works with retail and institutional clients
GlobeX360 allows you to trade CFDs on a wide range of commodities from the energy, industrial, financial and agricultural sectors. Also, its clients can make transactions with precious metals, stocks, indices, and more than 50 currency pairs. Out of cryptocurrencies, there are BIT (₿), BTC, ETH (Ξ), LTC (Ł), and XRP. For large private clients and institutional clients, whose investments exceed $25,000, and the trading volume is 500 lots, the company offers a free connection to the FIX API. Beginners can take free online courses from professional traders or take individual training with a personal mentor.
GlobeX360 provides clients with 2 types of MetaTrader 4 trading terminals - desktop (for PCs and laptops with Windows/MAC) and mobile (for smartphones and tablets with Android/iOS). Their interface allows you to not only trade independently but also to connect signals or scripts for automatic trading.
Useful services of GlobeX360:
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Telegram Channel. It publishes the latest economic news and financial market events in real-time.
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Market data from TradingView. The feed containing current prices is presented on the website and is updated in real-time. When you click on a financial instrument, ideas, forecasts, and technical analysis are displayed for three types of indicators—Oscillators, Pivots, and Moving Averages.
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Free online courses and training webinars from professional traders. Access to them opens after registering with the website and opening a trading account.
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FAQs. This section contains detailed information on accounts, account opening, verification, etc.
Advantages:
Allows automatic trading using advisors and hedging (arbitrage trading).
Muslim clients have the option to open an Islamic account that is not charged a swap commission.
The broker does not prohibit the use of scalping strategies and does not set time limits for holding positions open.
Traders get access to trading through the classic MetaTrader 4 terminal, which eliminates the need to spend time studying the functionality of a proprietary platform.
Technical support operators are always prompt and at the same time clearly answer questions.
Account opening and verification procedures are completely digital.
The company offers a wide variety of payment systems for deposits and withdrawals.
User Satisfaction