GLOBTREX

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Advantages:

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Disadvantages:

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About company:

Broker Globtrex, owned by Coverdeal Holdings Limited, offers online Forex trading, CFDs on stocks, bonds, indices and commodities on two trading platforms.

Company. Fund security

Coverdeal Holdings Limited owns the Globtrex.com domain. Coverdeal is licensed by the Cyprus Securities and Exchange Commission (231/14). The company is based in Cyprus and has branches in the Czech Republic and Poland, however, the domains of these branches are no longer active.

With a competitive tax regime, a well-developed financial sector and tough regulations, Cyprus has become a popular destination for Forex and binary options brokers.

Companies licensed by CySEC must have at least € 730,000 in their account. In addition, they are required to report transactions, keep client funds in segregated accounts, and meet a number of other requirements.

All CySEC regulated brokers can operate in all EU member states and are required to participate in the Investor Compensation Program. However, Globtrex argues that some clients' funds may be held in segregated accounts outside the EU, which means that in the event of claims from traders or bankruptcy, proceedings may take place differently than CySEC specifies.

Trading conditions

Globtrex.com offers three types of accounts, all offering interest-free trading with up to 1: 200 leverage. In fact, most of the information about trading conditions for different account types is not available on the broker's website.

Minimum initial deposit

To open an account with Globtrex.com, traders need to invest at least $ 100.

Spreads and commissions

Although Globtrex.com claims to offer floating spreads, in fact on the demo account the spreads are fixed and very high - 3 pips for the EUR / USD pair.

Leverage

The maximum leverage level offered by Globtrex.com is 1: 200 (for Forex), this is the average ratio. The default leverage provided by the broker is in line with the latest CySEC guidelines.

Trading platforms

Globtrex.com supports the MetaTrader5 platform, which is available on PCs, mobiles and tablets. The broker also offers Sirix Webtrader.

MT5 is an upgraded version of MT4. The terminal has even more functions than its predecessor. But, nevertheless, many brokers still prefer MT4 as its indicators and advisors (EA) are not supported on the MT5 platform. Recently, the popularity of MetaTrader 5 has been gaining momentum, and finally the hedging option and a number of other improvements have been added. In addition, MetaQuotes announced that it will no longer release updates for MT4.

The Sirix Webtrader web platform is also very popular in the Forex industry. It is user-friendly, requires no download, and has social trading capabilities. Investors can directly copy the trades of other traders.

Analytics and news

Globtrex.com offers a rich educational section with e-books, videos and glossary. All these materials are available to any trader.

Support service

The main office is located in Limassol, Cyprus. There is also a branch in Prague. Support specialists answer customer questions by phone and email. At the same time, online chat is not offered for communication, although this method of communication is most preferred by traders.

The website is available in English, Italian, Spanish, Polish, Czech, Slovenian, Croatian and Hungarian.

Ways of payment

Globtrex.com supports credit / debit cards, wire transfer, WebMoney, and local transfers.

Pros:

regulated broker; selection of trading platforms; selection of assets for trading.

Minuses:

high fixed spreads.

FAQ - BROKER QUESTIONS GLOBTREX

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Can the broker GLOBTREX be considered honest?
Before any trading and choosing a broker, you should always read reviews on our portal, as well as on other resources. Brokers that are honest have a rating above 3.8. There is also always a risk of losing investments when trading CFDs. Be careful and read the risk warning on the broker's website. GLOBTREX received a rating of 1 out of 5 on our resource.