Globex360 is an online trading provider that was founded in 2017, with a primary focus on the continent of Africa.
Throughout the span of two years, it has become one of the leading online brokerage firms that accept clients from all over the world. Globex360 has a global presence in various geographical areas that allows them to offer their clients quality services and technical support.
Globex360 has financial partners that are based in South Africa, Kenya, Botswana, Nigeria, Chile, and Australia; they also registered with the Companies and Intellectual Property Commission in South Africa.
This GlobeX360 review is an in-depth analysis of everything there is to know about this forex trading services provider and what it has to offer.
Who is the founder and owner of GlobeX360?
Global Exchange 360 or Globex360 for short, takes great pride in being the first black woman-owned forex broker in the world.
The broker was founded by Nombuso Mkhulise, who is considered to be one of the most accomplished women in the financial sector and the only black woman to own a brokerage firm. The down to earth founder and Chief Executive Officer was born in Diepkloof (Soweto), Johannesburg, with her grandmother after losing her mother at the very young age of 10. She has completed her Civil Engineering studies at the Deutsche Schule Johannesburg (DSJ) with a bursary, thanks to her great academic achievements. She considers herself to be a seasoned CEO and that her company is ready to serve clients from all around the globe, hence the name “Globex – Global exchange.”
Mkhulise aims to challenge the status quo and invites more women to venture into what was considered a boys club for so long, in order to gain financial freedom.
GLobeX 360 Main Features
🛍️Established in: 2017
🛍️Headquarters: Johannesburg
⚖️Regulations: FSP under license no 50130
⚖️Country of regulation: South Africa
đź’°Minimum Deposit: $25
🎮Platforms: MT4, SocialCopy Trade
🎮Demo Account Available: Yes
đź’±Leverage: up to 1:500
đź’°Withdrawal fee amount: 0$
đź’°Inactivity Fee: Yes
Pros
Variety of trading instruments
Different types of trading accounts, according to traders’ experience
Regulated by the Financial Sector Conduct Authority in South Africa, also known as (FSCA)
In accordance to the Financial Intelligence and Anti-Money Laundering Act 2002 (FIAMLA 2002), the Prevention of Corruption Act 2002 (POCA 2002) and the Prevention of Terrorism Act 2002 (POTA 2002)
Does not accept clients from the US, Canada and Belgium
Withdrawal process is very very slow
Does not provide negative balance protection
Safety and Regulation
Globex360 is the brand name of GLOBEX Wealth GROUP LTD, registered under the Financial Sector Conduct Authority (FSCA) in South Africa.
Is Globex360 Regulated?
Globex360 is regulated by the Financial Sector Conduct Authority in South Africa, also known as (FSCA), with license no 50130. They are also obligated to follow the guidelines of the Financial Intelligence and Anti-Money Laundering Act 2002 (FIAMLA 2002), as well as the Prevention of Corruption Act 2002 (POCA 2002) and the Prevention of Terrorism Act 2002 (POTA 2002). Globex360 is registered and regulated by the financial body in South Africa, which is one of the most prominent areas for financial and monetary regulations of trading application services.
Is it Safe or a Scam?
Globex360 keeps client funds in segregated accounts to keep from merging the funds of clients to those of the corporation. The segregated accounts show the high level of transparency and concern of the company towards the client’s funds and personal information.
Traders who use the maximum available leverage, are exposed to a negative balance and unwanted charges. However, the broker’s risk department monitors clients’ trades and will notify any client in trouble via e-mail and ask him to take precautions.
Pros
Regulated by the Financial Sector Conduct Authority in South Africa, also known as (FSCA)
In accordance to the Financial Intelligence and Anti-Money Laundering Act 2002 (FIAMLA 2002), the Prevention of Corruption Act 2002 (POCA 2002) and the Prevention of Terrorism Act 2002 (POTA 2002)
Client funds stored in segregated accounts
Cons
Does not provide negative balance protection
Does not provide investor protection
GlobeX360 Fees
Globex360 offers relatively low trading and non-trading fees.
You do not have to worry about deposit fees and withdrawal fees, because there are none.
The minimum deposit for the Basic Account is 100USD and the Standard Account is 500USD, while the minimum deposit for the ProfessionalVIP Account is 5000USD; this is also considered relatively low.
With Globex360, there is a minimum and a maximum trade size; the minimum trade size is 0.01 lots and the maximum trade size is 50 lots. There is a maximum amount of orders for traders that can be opened on their MT4 trading account, which is fifty orders. Their execution speed for an order is, on average, approximately two-hundred milliseconds; this is considered to be very fast and efficient to benefit traders.
Globex360 have a 100/30 percent margin call-stop level, but the trader’s account may be exposed to a margin call if the trading account’s equity lies in a level that is equal to the margin of the trader’s existing position.
Another feature and trading condition that Globex360 provides is hedging and scalping. The required margin for hedging positions on the three accounts is zero, and there are no time limitations for keeping the positions open for traders.
With Globex360, there is a possibility for traders to face a negative balance if they use the maximum leverage level that is available. A negative balance could also occur if there is slippage, due to a period of high volatility.
The broker has a risk department is constantly and consistently track their clients’ progress when it comes to risk-taking decisions and strategies. This allows Globex360 to monitor and see if a trader is making irresponsible trading decisions, then the broker will notify the trader through an email with the contents of asking them to reduce their risk exposure.
The broker may also reduce the maximum leverage level on the client’s trading account, to ensure that they are trading responsibly and not exposing themselves to major financial risk.
With Globex360, negative balance protection is not guaranteed by the broker. The general practice of negative balance protection is based on a case-to-case review.
Leverage
Globex360 offers a maximum leverage ratio of 1: 500. The minimum leverage is 1:100 and available on basic accounts.
Leverage is a form of a loan to the client that enables you to get a much larger exposure to the market you are trading than the amount you deposited to open the trade. Leveraged products, such as forex trading, magnify your potential profit – but also increase your potential loss.
The leverage amount is expressed as a ratio, for instance, 50:1, 100:1, or 500:1. Assuming that you have $1,000 in your trading account and you trade ticket sizes of $500,000 EURUSD, your leverage will equate to 500:1.
Margin is the amount of collateral to cover any credit risks that may arise during your trading operations. It is expressed as the percentage of position size (e.g. 5% or 1%), and you have to have funds in your trading account to ensure sufficient margin.
Account Opening
There are three different account types for Globex360, which all have different features for all kinds of traders. Opening an account is easy and fully digital.
The three trading accounts of Globex360 are: Basic Account, Standard Account, and Professional or VIP Account. These are all available for you on Globex360, but it depends on your trading knowledge.
Pros
Minimum deposit of 100USD for Basic and Standard
Account Management is free
Forex, Commodities, Indices, and CFDs available
Cons
Only MT4 trading platform available
Automated trading not available in Basic
Globex360 Basic Account
The first Globex360 account available for you is the Basic Account with an instant execution type and the free support of an account manager. The maximum leverage level is 1:100 and a minimum spread starts from 2.0. There is also a commission charged for trading, which is 12USD per lot.
The available trading instruments on the Basic Account are Forex, Commodities, and Indices, with the MT4 trading platform. The maximum order size is ten lots and there is a guaranteed stop-loss order, which is reasonable for traders with the Basic Account. The minimum initial deposit is one-hundred dollars.
One of the main drawbacks of the Basic Account is that traders with this type of account will not have access to the knowledge base of Globex360, and they won’t be able to have the option of automated trading
Pros
Instant execution
Low minimum deposit (100USD)
Guaranteed stop-loss orders available
Cons
No access to educational resources
No access to automated trading
High Trading Commission
GlobeX360 Standard Account
The second account type that Globex360 provides is the Standard Account. This account is similar to the Basic Account, but there are some improvements. The execution type is market execution, you get the support of an account manager and can also access automated trading.
The maximum leverage level for the Standard Account is 1:200, and they provide minimum spreads from 1.6. The commission charged for each lot is 10USD and the maximum order size is twenty lots. The Standard Account offers Forex, Commodities, and Indices as instruments for trading, with the MT4 trading platform available for the trader’s convenience.
The minimum initial deposit is five hundred dollars($500) and you can immediately gain access to the educational materials of GlobeX360.
Pros
Free account management
Market execution
Guaranteed stop-loss order
Access to Automated Trading
Cons
No access to personal account manager
Only available on MT4 trading platform
High Trading Commission
High Minimum Deposit ($500)
GlobeX360 Professional or VIP Account
The final and most beneficial trading account is the Professional or VIP Account.
This Globex360 trading account performs orders at market execution quotes, and has free account management. The maximum leverage level is 1:400, since the maximum order size is fifty(50) lots. The account also offers minimum spread starting from 1.2, with a commission of eight dollars($8) per lot.
Similar to the Standard Account, traders can access Forex, Commodities, Indices as well as automaded trading services. Unlike the other two trading accounts, there is the option for a personal account manager and the minimum initial deposit would be five thousand dollars($5000).
Pros
Access to automated trading
Guaranteed stop-loss order
Personal account manager available
Cons
High minimum deposit (5000USD)
Only available on MT4 trading platform
High Trading Commission
How to Open a GlobeX360 Account
STEP ONE: Fill out the online application with your personal information and trading preferences.
STEP ONE: Fill out the online application with your personal information and trading preferences.
STEP ONE: Fill out the online application with your personal information and trading preferences.
STEP TWO:Â Open your email to verify your login credentials.
STEP TWO: Open your email to verify your login credentials.
STEP THREE:Â Upload documents of your Bank Statement, Proof of Address (POA), and a copy of your Passport or ID as a form of Proof of Identity (POI).
STEP THREE: Upload documents of your Bank Statement, Proof of Address (POA), and a copy of your Passport or ID as a form of Proof of Identity.
Deposit and Withdrawal
With Globex360, traders have the option to withdraw and make a deposit through their Client Area by utilizing any of they available funding option that traders prefer. However, the options are limited.
There are several methods of payment, for depositing and withdrawing funds. These methods include: PayFast, BitCoin, Debit and Credit Cards.
Globex360 accepts several different currencies such as: USD, EUR, and MMK. The deposits and withdrawals are free of charge, but a transfer fee could be charged by the bank and not by the broker.
Globex360 will also not cover conversion fees, if the trader deposits or withdraws funds that are a different currency than that of the trading account.
Deposits
The Globex360 minimum deposit for all trading account types is 25USD. However, the VIP Account has a specific condition, where the trader must reach a monetary minimum balance of fifty thousand dollars.
With Globex360, it is possible for traders to withdraw funds through a different payment method from that used for depositing. The funds will be withdrawn and deposited through the same method of payment, but Globex360 gives traders the option to transfer funds to a different mode of payment, as long as it is under the same name and personal information.Â
Pros
Fast process for deposit
Low minimum deposit of all accounts of 25USD
No deposit fee
Cons
Limited options for base currency
Limited deposit methods
GlobeX360 Deposit Options
Electronic Wallets
Debit and Credit Cards
Bank Transfer
Withdrawals
In order for traders to be able to withdraw funds from their trading account, they must log in to their Client Area and fill in the available form to make a withdrawal request. On the plus side, there are no withdrawal fees for traders and their withdrawal requests normally process in the span of one working day, depending on the payment method. However, to proceed with any withdrawal clients must verify their accounts and provide all the necessary FICA documents.
How long does it take to withdraw money from Globex360?
Funds reach the trader’s bank account can vary from the bank’s policy; this means that withdrawals from banks can take up to 2-8 working days. Credit Card and Debit Card withdrawals can take longer, up to eight business days.
Pros
No withdrawal fee
Multiple trading accounts with different currencies
Cons
Slow withdrawal process
Limited base currency
GlobeX360 Withdrawal Options
Electronic Wallets
Debit and Credit Cards
Bank Transfer
Trading Platforms
There is only one available Globex360 trading platform, which is the MetaTrader4. The MT4 trading platform is available and accessible for all traders, through their desktop terminal and their mobile application. Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â
GlobeX360 Trading Platform Options
MetaTrader4 Mobile Application
MetaTrader4 Desktop Platform
Desktop Trading Platform
The MT4 Desktop Terminal is one of the most popular and well-known trading platforms across the world with many user-friendly features.
The MT4 Desktop Terminal is one of the most popular and well-known trading platforms across the world with many user-friendly features.
MT4 consists of automated monitoring, advanced trading charts, and live technical analysis. It has a very simple structure that is considered easy-to-use, for both novice and experienced traders.
The design of the trading platform and its accurate analytical instruments are one of the many reasons for its popularity for brokers and traders alike. With MT4 Desktop, the decisions lie with the trader who can pick and choose all of the options that facilitate their trading decisions and strategies. With Globex360 and MT4 Desktop, there is accuracy and transparency for trading decisions, and trading strategies that can be easily monitored.
With Globex360 and MT4 Desktop, there is accuracy and transparency for trading decisions, and trading strategies that can be easily monitored.
With MetaTrader4 Desktop Terminal, you will find that it provides you with the option of order types of: Market, Limit, and Stop. You can also use the order types of: Good Till Cancelled (GTC) and Good Till Time (GTT). These basic order types are also available on the MT4 mobile application.
With Globex360, security is a priority, but the MT4 Desktop Terminal does not provide the two-step login process. You can only login through the initial login process to enter your trading platform.
The MetaTrader4 Desktop Terminal has the option of setting alerts and notifications on your desktop device, which means that you will get an email or notification whenever a price changes. You will also get an alert when your price has reached the target that you wanted.
As an overall, the MT4 Desktop Terminal is available for traders who prefer a stable environment for trading. The Desktop Terminal platform allows you to view your fee reports, which are reports of all the payments you have made on the platform; you can also find your past performances on your portfolio available.
Mobile Trading Platform
The MT4 Mobile application is a trading platform that is supported by Android-powered and iOS-powered mobile devices. The application gives traders the option to select from hundreds of brokers and thousands of servers.
The second trading platform provided by Globex360 would be the MetaTrader4 Mobile Trading Application, which is the same trading platform as MT4 Desktop, but it has the option of being accessed through a mobile device. Many traders prefer the MT4 Mobile, because clients can trade at anytime and anywhere during the day. MT4 Mobile are available for versions of Android and Apple iOS devices to be able to trade in the financial markets.
MT4 trading platforms on Mobile are able to access the same features as the Desktop versions, which include the full support for the trading functions, broad analytical capabilities with technical indicators and other graphical objects; these features of the Globex360 MT4 Mobile are aspects available from anywhere across the globe twenty-four hours a day.
The MT4 Mobile application is a trading platform that is supported by Android-powered and iOS-powered mobile devices. The application gives traders the option to select from hundreds of brokers and thousands of servers. It provides everything the trader might need for successful FX trading, such as: a complete set of orders, trading history, interactive charts, technical analysis and the widest selection of supported mobile devices.
As an overall, MetaTrader4 mobile application is suitable for traders who like trading on the go, and at no specific time.
Pros
Available for both Android and iOS
User-friendly platform
Alerts and notifications available
Many languages available
Cons
No facial recognition
No two-step login process
With MetaTrader4 Mobile Trading application, you can use the basic order types to execute. You will find that there are three basic order types for you to use: Market, Stop, and Limit. The MT4 mobile application also provides traders with the option of the order types: Good Till Cancelled (GTC), and Good Till Time (GTT). These order types are the same orders as those on the desktop trading platform.
Regarding the security of the MT4 mobile application, you will not find the option of a two-step login process. They only offer a one-step login process, and you will not be able to use facial recognition or fingerprint to log into your trading platform account.
With the MetaTrader4 mobile trading platform, you have the option to set alerts and notifications in the form of push notifications on your device. These alerts notify you on any price changes, or if your price has reached its target. You will not, however, find any price alerts for order confirmation.
As an overall, MetaTrader4 mobile application is suitable for traders who like trading on the go, and at no specific time. The mobile trading platform provides traders with the option of looking through their fee reports, past portfolios, and search functions for trading instruments.
GlobeX360 Copy Trade
The broker has designed its own propriety mobile platform, based on its famous copy trading service. The app is available on all reputable stores including Google Play and the IOS Appstore.
With the GlobeX360 Copy Trade app, a trader can copy trades from successful leading traders from all around the world, in just a few easy and automated steps. This service allows your account to profit from successful and profitable trades. Clients can review the selected traders’ history, the risk to reward ratio, and their profitability trend. Using this service allows your account to remain anonymous and none of the traders can have access to your account or funds.
Markets and Financial Instruments
Globex360 provides a wide array of trading instruments such as Forex, Indices, Precious Metals and Energy, and Crypto-currencies. They have very strong commitments to the best quality of software and quality assurance to make sure that traders receive top-notch and transparent experience in trading.
They have been given the authorization to offer financial services to traders all around the world, except for US, Canadian, and Belgian citizens, keeping up with the jurisdiction of every authority that is in every country they partner with.
What Globex360 Offers
Forex
Indices
Commodities
Equities
Market Research and Trading Tools
Globex360 is not only distinguished in its structure, but in its trading tools that make a difference with traders of all experience.
The additional features are helpful to traders since it gives them a more in-depth understanding of the trading industry. Globex360 contain bonus aspects such as: calculators, economic calendars, multi-account managers, and its mobile application.
The mobile application of Globex360 is providing different features such as: overview of all accounts with balances, account types, trade history, Mobile Deposits, and performance Analytics. The mobile application also has the option of reaching out to advanced referrals via social media and other types of messaging devices.
Another additional feature on Globex360 is the calculators that are available on the website. The two calculators that are available are: the position size calculator, and the currency convertor. These calculators will be able to give traders the information they need from one medium, without searching for it in more than one place. The final feature in Globex360 that makes it stand out is its accurate and articulate economic calendar. The economic calendar defines the actual real-time events, the forecast of the economic events, and the prior circumstances that previously took place.
The learning segment of Globex360 includes a Demo Account and a Knowledge base, which is available for all traders who are taking part with Globex360. These learning methods can be used through their website.
Pros
Currency size and Position size calculator available
Economic calendar with real-time events
Basic Forex explanation in Knowledge Base
Cons
No video tutorials or visual aid
No how-to guide on trading platform
Customer Service
The customer service of Globex360 is available 24 hours a day5 days a week. However, there are several ways to reach their customer support: via phone, via live chat, and via email.
Pros
Multiple methods of customer support
Fast response
Relevant responses to your inquiries
Cons
Not available 24/7
Must log-in to Facebook Messenger for Live Chat
Means of Communication
Facebook Messenger – Live Chat
Email Support
Phone Support
With Globex360 customer reviews, traders claim that they have a beneficial trading experience. They find the customer support service to be helpful with their relevant responses and fast response time. The only thing that traders find discouraging is the long process of withdrawal.
Client Education
With Globex360, they have the priority to allow traders to make smart and decisive trading plans. This is why they provide various educational programs and materials, such as webinars and seminars; there were developed to educate trading skills and understand the financial opportunities that traders have within Forex markets and other financial markets in the industry. In addition, Globex360 issues educational materials and publications in various languages, which are disseminated to traders on a global level. Traders will also be able to find a huge selection of analytical tools to help trader’s better track through financial markets.
With each country, Globex360 cooperates and deals with different business schools that are able to offer professional educational courses and seminars to the traders in the client base of Globex360.
There is also a knowledge base that is offered to traders through the website, for the trader’s convenience. The knowledge base is an extensive guide on trading and all of the features that make up a trading decision, and how to trade with international capitals. Many traders use this guide to be able to understand the inner-workings of the trading industry, and everything they need to know about it. This is particularly helpful for novice traders who have yet to fully understand the way trading works.
Examples of the knowledge base would be questions such as: “What is spread?”; “What are Currency Pairs?” and “What is the margin level and how does it affect your trading?” As a trader, it’s essential for this information to be understood and implemented throughout trading decisions of any kind.
How to Open a Demo Account
STEP ONE: Fill out the online application with your personal information.
Conclusion
With Globex360, their main priority is to educate and ensure traders make the best trading decisions through their provision of different trading programs and providing them with the best trading conditions the financial market can offer. They are available for Forex trading 24 hours a day, five days a week; the only exception is that CFDs have certain trading hours that are enlisted on their website.
Since Globex360 is an online trading provider, they do not have a dealing desk, being a purely STP broker. All of their procedures are automated, but this is beneficial for traders, since there are no conflicts of interest with the fact that all of the requests are approved with liquidity providers. This Globex360 broker review emphasizes on the unique aspects and features of this online trading and financial services provider.
It is a good broker, because it is regulated by the Financial Conduct Authority in South Africa (FSCA). It also proves to put clients as a priority, since they provide all forms of educational resources. They also have several forms of customer support, so you can reach them in several ways for 245.
IS GLOBEX360 RELIABLE?
Globex360 is registered and regulated by the Financial Sector Conduct Authority (FSCA) in South Africa, the main financial body in South Africa.
HOW LONG DOES IT TAKE TO WITHDRAW FROM GLOBEX360?
It mostly takes 24 hours, but it can take from 3 to 7 business days, depending on the withdrawal method.
WHAT IS THE MINIMUM DEPOSIT ON GLOBEX360?
The minimum deposit for the Basic Account is 100USD, the Standard Account is 500USD, and the ProfessionalVIP Account is 5000USD.
DOES GLOBEX360 HAVE NASDAQ?
Yes, Globex360 has Nasdaq as a trading instrument.
HOW DO I FUND GLOBEX360?
You can fund your Globex360 account with the following options: PayFast; BitCoin; Debit and Credit Cards; Bank Transfer.
DOES GLOBEX360 CHARGE COMMISSION?
According to the Globex360 website, there are no commission charged on the Basic and Standard Account. There is a commission of 5USD charged per lot on the ProfessionalVIP Account.
IS GLOBEX360 REGULATED?
Globex360 is registered and regulated by the Financial Sector Conduct Authority (FSCA) in South Africa, the main financial body in South Africa.
HOW DO I DEPOSIT INTO GLOBEX360?
You can deposit into your Globex360 account with the following options: PayFast; BitCoin; Debit and Credit Cards; Bank Transfer.
IS GLOBEX360 SAFE TO USE?
Globex360 is fully in accordance to the Financial Intelligence and Anti-Money Laundering Act 2002 (FIAMLA 2002), the Prevention of Corruption Act 2002 (POCA 2002) and the Prevention of Terrorism Act 2002 (POTA 2002). It also keeps client funds stored in segregated accounts, away from corporate funds.