Globex360

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AspectDetails
broker popularity top broker high popularity best reviews benchmark
LeverageUp to 1:500
Minimum Deposit$100
Year Established2017
RegulationFSCA (Financial Sector Conduct Authority), CIPC (Companies and Intellectual Property Commission)
Payment methodsVisa, Mastercard, Bank Transfer, Neteller, Skrill, Wallettec, Instant Deposit, E-wallet, Elipa Uganda, Elipa Tanzania, and other local payment systems
Publicly Traded
Employees<25
Type of BrokerForex and CFD broker
MT4
MT5
Trading AssetsCurrency pairs (50), CFDs on indices (8), commodities (15), cryptocurrencies (5), stocks (20)
Demo Account
Islamic Account
CopyTrading
Signals
Deposit Fee
Withdrawal Fee
Rating★★★★ 4
Offers Official Website

Alternative Brokers

Pros and Cons

Pros
  • Diverse range of currency pairs and CFDs.
  • Regulation by South Africa’s supervisory authority.
  • Average minimum deposit for Standard accounts.
  • Segregation of clients’ funds in dedicated bank accounts.
  • Investment offerings include MAM service, copy trading signals, and Expert Advisors.
  • Access to free market information and analytics from TradingView.
  • Free online courses and training webinars by professional traders.
Cons
  • High spreads across all account types.
  • Lack of negative balance protection.
  • Does not accept clients from the USA, Belgium, or Canada.

Introduction

In the dynamic realm of online trading, Globex360 emerges as a noteworthy player, offering a spectrum of services for both active traders and those inclined towards passive investing.

Established in 2017, the broker strategically directs its focus towards traders from the African continent.

This comprehensive introduction aims to unravel its layers, providing insights into its account features, regulatory framework, and the pros and cons that shape the trader’s experience.

Pioneering Focus and Regulatory Vigilance

GlobeX360 positions itself as a broker with a distinct focus on the needs of traders in African countries.

The company, founded in 2017, has swiftly gained recognition for its innovative approach to Forex trading.

Holding a regulatory mantle, the company is registered with the Companies and Intellectual Property Commission (CIPC) and operates under the supervision of the South African Financial Sector Conduct Authority (FSCA), holding registration number 50130.

Notably, the broker garnered accolades in 2020 as the Fastest Growing Forex Broker and Most Innovative Broker, according to the International Business Magazine.

Account Dynamics: Currency, Leverage, and Beyond

Delving into the operational facets, GlobeX360 caters to traders with diverse preferences, offering account currencies in USD, EUR, GBP, ZAR, and KWD.

The minimum deposit requirements span a range from $100 to $5,000, accommodating traders at various levels.

Leveraging the power of up to 1:500, it positions itself as a broker facilitating diverse trading strategies.

Instrument Variety and Trading Conditions

GlobeX360 boasts a comprehensive array of tradable instruments, including 50 currency pairs, 8 CFDs on indices, 15 commodities, 5 cryptocurrencies, and 20 stocks.

The trading conditions, characterized by spreads starting from 1.6 points for Standard accounts and 1.2 points for Professional accounts, provide traders with the flexibility to choose based on their preferences.

Company Focus and Regulation

  • Establishment: Founded in 2017.
  • Focus: Active trading, passive investing, with a focus on traders from African countries.
  • Regulation: Registered with CIPC and regulated by the South African FSCA (50130).
  • Awards: Recognized as the Fastest Growing Forex Broker and Most Innovative Broker by the International Business Magazine in 2020.

Account Details

  • Account Currency: USD, EUR, GBP, ZAR, KWD.
  • Minimum Deposit: Ranges from $100 to $5,000.
  • Leverage: Up to 1:500.
  • 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%.

Key Parameter Evaluation

  • User Satisfaction: 7.55/10.
  • Regulation and Safety: 7.60/10.
  • Commissions and Fees: 9.00/10.
  • Trading Instruments: 7.02/10.
  • Brand Popularity: 7.51/10.
  • Customer Support: 7.27/10.
  • Education: 7.59/10.

Withdrawal Methods and Transaction Dynamics

Discover seamless withdrawal experiences with a big array of options, ensuring convenience and efficiency in accessing your funds.

They provide an extensive range of withdrawal methods, catering to diverse preferences.

The available options include Visa and Mastercard, bank transfers (both domestic within South Africa and international SWIFT), Neteller, Skrill, Wallettec, Instant Deposit, E-wallet, Elipa Uganda, Elipa Tanzania, and various other local payment systems.

Their commitment to prompt service is reflected in the withdrawal processing timeline.

Their dedicated team processes all withdrawal requests within 24 hours, exclusively on weekdays.

Subsequently, funds are credited to bank accounts within 3-7 business days and to credit/debit cards within 8 business days.

For electronic wallets, funds are promptly credited on the day of application or the following business day.

It is imperative to note that they adhere to a policy ensuring funds are transferred exclusively to the originating account, card, or wallet.

They strictly prohibit payments from third parties to uphold the integrity of financial transactions.

At their end, they take pride in providing commission-free withdrawals.

However, users should be aware that withdrawal fees may be applicable, imposed by payment systems and banks in accordance with their respective internal terms and conditions.

This transparency ensures that users are informed about any potential fees external to the platform.

Experience the simplicity of fund withdrawal with us, where efficiency, security, and adherence to financial regulations converge for a seamless financial journey.

Conclusion

In conclusion, GlobeX360 emerges as a trading broker with a specific focus on catering to the needs of traders from the African continent.

Established in 2017, the company provides online trading services encompassing Forex and CFDs on various assets, including stocks, indices, cryptocurrencies, and commodities.

The broker boasts regulatory oversight, being registered with the Companies and Intellectual Property Commission (CIPC) and regulated by the South African Financial Sector Conduct Authority (FSCA).

Such regulatory adherence adds a layer of credibility to its operations, instilling confidence in traders.

While GlobeX360 offers a platform for active trading and passive investing, it is essential for prospective clients to weigh the advantages and disadvantages.

Traders are encouraged to consider their specific preferences, risk tolerance, and trading goals when choosing a broker.

Its commitment to regulatory standards and the provision of educational resources positions it as a contender in the competitive trading landscape.

However, the identified drawbacks, such as higher spreads and limited services for certain regions, should be factored into the decision-making process.

In navigating the dynamic world of financial trading, a judicious approach involves thorough research, consideration of individual needs, and ongoing evaluation of the broker’s offerings.

As with any financial decision, prospective traders are urged to exercise diligence and stay informed for a well-rounded trading experience.

FAQ – Frequently Asked Questions

What is Globex360?
It is a trading broker established in 2017. It provides online trading services, including Forex and CFDs, with a focus on traders from the African continent.
What regulatory oversight does it have?
GlobeX360 is registered with the Companies and Intellectual Property Commission (CIPC) and regulated by the South African Financial Sector Conduct Authority (FSCA).
What account currencies are available?
The broker offers account currencies in USD, EUR, GBP, ZAR, and KWD to cater to the diverse needs of its clients.
What is the minimum deposit requirement for opening an account?
The minimum deposit on GlobeX360 ranges from $100 to $5,000, providing flexibility for traders with different preferences.
What leverage is offered?
GlobeX360 provides leverage of up to 1:500, enhancing the trading capabilities of its clients.
What trading instruments are available?
Traders can access a variety of instruments, including currency pairs, CFDs on indices, commodities, cryptocurrencies, and stocks.
How long does it take to process withdrawal requests?
Withdrawal requests are processed within 24 hours on weekdays. Funds are credited to the respective accounts/cards/wallets within specific timelines.
Does GlobeX360 charge any commission for fund withdrawals?
It does not charge commissions for fund withdrawals, but payment systems and banks may have their withdrawal fees.
What educational resources does the broker offer?
GlobeX360 provides free online courses, training webinars, and access to market information and analytics, enhancing the educational experience for its clients.
Can I contact customer support through social media?
Yes, GlobeX360 has profiles on Facebook, Twitter, and Instagram, providing additional channels for clients to contact technical support representatives.

Resources

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Article written, edited and reviewed by

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Last updated: July 5, 2024