REVIEWS
Globex360 Review 2022
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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 were 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.
| GlobeX360 Main Features | |
|---|---|
| 🗺️Established in: | 2017 |
| 🏢Headquarters: | Johannesburg |
| ⚖️Regulations: | FSCA |
| ⚖️Country of regulation: | South Africa |
| 💰Minimum Deposit: | $25 |
| 🖥Platforms: | MT4, SocialCopy Trade |
| 🎮Demo Account Available: | Yes |
| 💱Leverage: | Up to 1:500 |
| 💰Withdrawal fee amount: | $0 |
| 💰Inactivity Fee: | Yes |
| Pros | Cons |
|---|---|
| • Variety of trading instruments | • Only provides MT4 trading platform |
| • Different types of trading accounts, according to traders’ experience | • Does not accept clients from the US, Canada, and Belgium |
| • Regulated by the FSCA | • Withdrawal process is very very slow |
| • Does not provide negative balance protection |
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Safety & Regulation
Is Globex360 Regulated?
Globex360 is the brand name of GLOBEX Wealth GROUP LTD, registered under the Financial Sector Conduct Authority (FSCA) in South Africa.
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 | Cons |
|---|---|
| • Regulated by the Financial Sector Conduct Authority in South Africa, also known as (FSCA) | • Does not provide negative balance protection |
| • 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 provide investor protection |
| • Client funds stored in segregated accounts |
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.
| Pros | Cons |
|---|---|
| •No deposit fee | •Inactivity fee |
| •No withdrawal fee | •No negative balance protection |
| •Low trading fees |
| Deposit and Withdrawal Fees | |
|---|---|
| Deposit Fee | 0USD |
| Withdrawal Fee | 0USD |
| Inactivity Fee | 5USD |
| Account Fee | 0USD |
| Globex360 Fees vs. Competitor Fees | ||||
|---|---|---|---|---|
| Globex360 | OctaFX | AvaTrade | XM | |
| Account Fee | No | No | No | No |
| Inactivity Fee | Yes | No | Yes | Yes |
| Deposit Fee | 0$ | 0$ | 0$ | 0$ |
| Withdrawal Fee | 0$ | 0$ | 0$ | 0$ |
Globex360 Trading Fees
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.
GlobeX360 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.
You do not have to worry about deposit fees and withdrawal fees, because there are none.
Account Opening
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 | Cons |
|---|---|
| • Minimum deposit of 100USD for Basic and Standard | • Only MT4 trading platform available |
| • Account Management is free | • Automated trading not available in Basic |
| • Forex, Commodities, Indices, and CFDs available |
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 | Cons |
|---|---|
| • Instant execution | • No access to educational resources |
| • Low minimum deposit (100USD) | • No access to automated trading |
| • Guaranteed stop-loss orders available | • 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 | Cons |
|---|---|
| • Free account management | • No access to personal account manager |
| • Market execution | • Only available on MT4 trading platform |
| • Guaranteed stop-loss order | • High Trading Commission |
| • Access to Automated Trading | • 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 | Cons |
|---|---|
| • Access to automated trading | • High minimum deposit (5000USD) |
| • Guaranteed stop-loss order | • Only available on MT4 trading platform |
| • Personal account manager available | • High Trading Commission |
How To Open A GlobeX360 Account
STEP ONE: Fill out the online application with your personal information and trading preferences.
STEP TWO: Open your email to verify your login credentials.
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 (POI).
Deposit & Withdrawal
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.
| Pros | Cons |
|---|---|
| • Fast process for deposit | • Limited options for base currency |
| • Low minimum deposit of all accounts of 25USD | • Limited deposit methods |
| • No deposit fee |
GlobeX360 Deposit Options
- Electronic Wallets
- Debit and Credit Cards
- Bank Transfer
Withdrawal
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 | Cons |
|---|---|
| • No withdrawal fee | • Slow withdrawal process |
| • Multiple trading accounts with different currencies | • Limited base currency |
GlobeX360 Withdrawal Options
- Electronic Wallets
- Debit and Credit Cards
- Bank Transfer
Trading Platforms
The MT4 trading platform is available and accessible for all traders, through their desktop terminal and their mobile application.
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.
| Pros | Cons |
|---|---|
| • Many languages available | • No two-step login process |
| • Alerts available | |
| • Can view fee reports |
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 | Cons |
|---|---|
| • Available for both Android and iOS | • No facial recognition |
| • User-friendly platform | • No two-step login process |
| • Alerts and notifications available | |
| • Many languages available |
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 & Financial Instruments
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 | |||
Markets Research & Trading Tools
Globex360 is not only distinguished in its structure, but in its trading tools that make a difference with traders of all experiences.
The additional features are helpful to traders since it gives them a more in-depth understanding of the trading industry. Globex360 contains 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 an 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 converter. 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 of 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 | Cons |
|---|---|
| • Currency size and Position size calculator available | • No video tutorials or visual aid |
| • Economic calendar with real-time events | • No how-to guide on trading platform |
| • Basic Forex explanation in Knowledge Base |
Customer Service
| Pros | Cons |
|---|---|
| • Multiple methods of customer support | • Not available 24/7 |
| • Fast response | • Must log-in to Facebook Messenger for Live Chat |
| • Relevant responses to your inquiries |
Means Of Communication
- Facebook Messenger – Live Chat
- Email Support
- Phone Support
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.
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 traders better track the financial markets. In each country, Globex360 cooperates and deals with different business schools that are able to offer professional education 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
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.
Frequently Asked Questions
Is Globex360 a good broker?
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?
What Is The Minimum Deposit For Globex360?
Does Globex360 have Nasdaq?
How do I fund Globex360?
Does Globex360 charge any commission?
Is Globex360 Regulated?
How do I deposit into Globex360?
Is Globex360 safe to use?
Methodology
All brokers listed on our website are regulated by at least one financial regulator and have never been reported as a scam. We analyze more than 3000 data points across 8 key focus areas.
Our reviews are a combination of data research and working alongside the brokers. All information provided by the brokers are double-checked to guarantee 100% accuracy and that we remain unbiased.
2023 Review Methodology
For our 2023 Forex Broker Review, we assessed, rated, and ranked 45 international forex brokers over a three-month time period. Each broker was graded on 108 different variables and, in total, over 100,000 words of research were produced.
While encouraged, broker participation was optional. Each broker had the opportunity to complete an in-depth data profile and provide executive time (live in person or over the web) for an annual update meeting.
All data submitted by brokers is hand-checked for accuracy. Ultimately, our rigorous data validation process yields an error rate of less than 0.1% each year, providing site visitors with quality data they can trust. Learn more about how we test.
Forex Risk Disclaimer
There is a very high degree of risk involved in trading securities. With respect to margin-based foreign exchange trading, off-exchange derivatives, and cryptocurrencies, there is considerable exposure to risk, including but not limited to, leverage, creditworthiness, limited regulatory protection, and market volatility that may substantially affect the price or liquidity of a currency or related instrument. It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses. Learn more at Wikipedia.
Chad Smith
Director of Research & Analysis
Chad Smith is the Director of Research & Analysis here at ForexBrokerListing.com.
Chad previously served as an Editor for a number of websites related to finance and trading, where he authored a significant number of published articles about trading and the impact of technology in transforming investing as we know it.
Overall, Chad is an active fintech and crypto industry researcher with more than 15 years of trading experience, and you can find him teaching his dog how to trade in his free time.