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Global FX Review and Tutorial 2021

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Facts & Figures

Global FX is an unregulated broker offering a suite of trading tools and products.

Awards

N/A

Bonus None
Instruments Forex, CFDs, indices, shares, commodities, cryptocurrencies
Demo Account Yes
Min. Deposit $300
Pay Methods Mastercard, Visa
Min. Trade 0.01 lots
Regulated By Unregulated
MetaTrader 4 No
MetaTrader 5 Yes
cTrader Yes
ECN Account No
DMA Account No
Mobile Apps Yes
Auto Trading Yes
Social Trading Yes
Copy Trading Yes
Trade Signals Yes
Islamic Account No
CFD
FTSE Spread 2232
GBPUSD Spread 0.5
Oil Spread 8
Stocks Spread Variable
Leverage 1:1000
Forex

Trade a long list of global currencies with high leverage rates.

GBPUSD Spread 0.5
EURUSD Spread 0.2
EURGBP Spread 0.4
Assets 76
Cryptocurrency

Trade 16 crypto pairs, including crypto only and crypto fiat cross pairs.

Spread Floating
Coins BTC, BCH, ETH, ETC, LTC, XMR, XRP, ZEC
Risk Warning – Your capital is at risk

Global FX is a worldwide STP administration where customers can exchange forex, lists and digital currencies on MT5, cTrader and CopyDeal stages. In any case, is Global FX a solid organization? Peruse on for subtleties on the monetary instruments accessible to exchange, its guideline, alongside spreads and commissions.

Global FX Details

Global FX was established in 2009 under the Global Group monetary holding organization. Soon after, Global FX extended its Hong Kong, Singapore, and USA activities, further concentrating on the Russian market in 2014. In addition, global FX moved its administrative centers to Toronto in 2019. Nonetheless, Global FX doesn’t offer types of assistance to American and Canadian residents. 

The business offers customers 1200 trading instruments, including admittance to 36 world stock trades. However, regardless of more than ten years in activity, Global FX stays unregulated.

Trading Platforms

Global FX customers can exchange with MT5, a refreshed stage to its MT4 archetype. The stage upholds a more extensive scope of apparatuses and examination, which incorporates the accompanying highlights: 

21 time periods 

Simple admittance to advertise volumes 

Inherent news sources and monetary schedule 

82 specialized markers and scientific apparatuses 

Capacity to exchange with various economic instruments from one record

MetaTrader 5

Global FX customers can trade with MT5, a refreshed stage to its MT4 archetype. The stage upholds a more extensive scope of apparatuses and examination, which incorporates the accompanying highlights: 

  • 21 time periods 
  • Simple admittance to advertise volumes 
  • Implicit news channels and financial schedule 
  • 82 specialized markers and scientific instruments 
  • Capacity to trade with various monetary instruments from one record. 

MT5 is accessible on Windows, Mac, Android and iOS.

cTrader

cTrader is a main multi-resource stage for forex and CFD exchanging. Its exchanging terminal sudden spikes in demand for STP innovation, making passage and execution moment. cTrader likewise brags a great suite of 70 pointers and 28 diagram periods, in addition to advanced level forex scalping methodologies. This is on account of its single tick exchange include and customizable moment time periods. cTrader Copy (officially cMirror) is likewise a wholly incorporated component of the cTrader stage, considering the programmed opening and shutting positions by replicating exchanging signals.

cTrader is accessible on Windows, Mac, Android, iOS, just as a web rendition for programs on computer and portable.

CopyDeal

CopyDeal is an interpersonal organization that spans proficient and new traders. The computerized replicating of techniques is accessible. An exact proportion is physically set; however, CopyDeal allows you to change and calibrate your procedure. The client is likewise ready to test the benefit of a few designs with its implicit value outline.

Assets

Clients can trade in a range of 1200 trading instruments from 36 world stock exchanges across 18 countries, including:

  • Forex – 76 major and exotic currency pairs
  • Stocks – 1440 stocks available from recognizable names such as 3M, Adobe and Coty Inc
  • Indices – Trade in 14 leading indexes, such as Nikkei 225, Dow Jones and FTSE 100
  • Cryptocurrencies – 16 pairs of coins available, comprising popular brands such as Bitcoin, Ethereum and Ripple
  • Metals – 6 pairs available in silver, gold, palladium and platinum with Euro or US Dollars

Commodities – Trade in oil and gas

Spreads & Commission

Live spreads are variable at Global FX and start from 0.1 pips. Typical spaces on leading pairs EUR/USD are 0.2 pips and 0.4 on EUR/GBP, with forex commissions starting from 7.5 USD per lot on MT5 and 10 USD on cTrader. Spreads on the FTSE 100 index come in at a hefty 2232 points. Bitcoin spreads vary from 200 to 6500.

To clarify, Global FX charges 7.5 USD for forex and 10 USD for commodities on the MT5 platform, whereas cTrader comes with a flat 10 USD commission. Service fees are charged on cTrader accounts at 5 USD per calendar day. Therefore, trading costs are above the industry standard when compared to the more competitive prices offered from the likes of Eagle FX, XM, and Oanda

Leverage Rates

Global FX offers liberal gliding influence up to 1:1000 on both MT5 and cTrader stages. In addition, clients can change credit influence on their profile pages. In any case, as Global X is unregulated, clients ought to know about the dangers when arranging impact on their exchange accounts.

Mobile App Rankings

Global FX doesn’t, as of now, offer its versatile application. In any case, the MT5 and cTrader stages both come as portable applications, which are allowed to download from the App Store and Google Play. Moreover, the applications hold quite a bit of their work area partner usefulness, including moment stores and robotized exchanging.

Payments

To fund accounts, the Global FX exchanging bunch offers two-moment store techniques: 

  • Credit/Debit card – Visa and Mastercard 
  • Electronic installments – Tether 

The monetary forms accessible for the store are RUB, EUR and USD for card installments and USD for electronic installments. Store time on all choices is a moment with no commission. 

On card installments, withdrawals come with a level expense of 7 USD, in addition to 3% of the sum removed and can take up to 7 workdays to measure. Note that withdrawals on card installments are just accessible in RUB and USD. Electronic installments on Tether come with a 1% withdrawal commission.

Demo Account Reviews

Global FX offers a free demo account. Clients can dominate the full usefulness of exchanging stages on all instruments given by the intermediary without the danger of losing cash. Experienced traders are additionally ready to work on exchanging procedures. You would then be able to open a live trading account at whatever point you’re prepared. 

Demo accounts are accessible on both MT5 and cTrader stages across Windows, Mac OS, iOS and Android gadgets

Bonuses

While Global FX has run a couple of different plans in 2012 and 2016, they don’t offer any other store arrangements. However, traders can check the specialist’s site and individuals region for future advancements. Continuously know about different terms and necessities before asserting.

Regulation

Global FX is unregulated and unlicensed in monetary and money markets. Therefore, traders should note that there is no assurance that your speculation is protected, nor will the company follow the exchanging codes a controlled specialist ought to. 

Moreover, Global FX has grabbed the eye of controllers like CONSOB and SEC, who have boycotted it’s anything but a trick and have cautioned traders from storing assets with the stage. Other online audits have hailed complaints from individuals not having the option to pull out reserves. With many questioning Global FX’s authenticities, potential financial backers ought to think about more dependable companies before saving assets

Additional Features

Global FX offers a preparation program intended for novices. It vows to teach new traders on market-wording, examining plans on its MT5 and cTrader stages, and rehearsing systems on a demo account. If you need to figure out how to accomplish compelling speculations before exchanging a genuine record, the preparation program could be valuable. 

Moreover, Global FX’s schooling program is likewise accessible for traders situated in Ghana. You can get to this through: forex.globalfxgh.com 

Likewise, the site offers day-by-day macroeconomic examination, market news, market bits of knowledge, and the schedule of an occasion. 

Trading Accounts

Global FX offers one standard record type for all customers with a base store prerequisite of 300 USD. Thus, the most significant market volume part size is 100. If customers store essentially $1,000, they get a forex exchanging course and guidance from an individual director. To add, customers who hold $10,000 in the capital get limits on exchanging commissions and are given an examiner to exhort on forex trading procedures. 

Global FX’s login measures are genuinely direct. Making a live record includes rounding out a structure on their site and submitting visa subtleties and archives. Once endorsed, you will approach MT5 and cTrader terminals. Sign in to the customer’s region and begin exchanging and pulling out reserves whenever you’ve added at least 300 USD into your record.

Benefits

  • Zero deposit fees
  • Volatility (VIX) 75 Index on MT5
  • Structured training program for new traders
  • Trade-in a wide range of instruments and currencies

Drawbacks

  • Unregulated and unlicensed 
  • High pulling out commission 
  • US and Canadian customers are not acknowledged 
  • Boycotted by CONSOB and SEC as false 
  • Client complaints of not having the option to pull out reserves 

Trading Hours

Exchanging hours on forex is open 24/5 from Monday to Friday, except for days that fall on public occasions. Crypto markets are available every minute of every day. Explicit exchanging hours for different business sectors can be found on the MT5 and cTrader stages

Customer Support

The Global FX support group is accessible 24/5, Monday to Friday. They can be reached through email at support@global-fx.com. The individuals who like to talk on the telephone can call them on +85239733963 (Hong Kong-based number). 

The agent’s freshest Toronto head office isn’t featured on their ‘Get in touch with Us page. The more dependable location would be their Hong Kong office in Grand Millennium Plaza, 181 Queen’s Road Central, 7/F, Low Block, Hong Kong. They’re open Monday – Friday, 10:00 – 21:00.

Trader Security

While the MetaTrader 5 and cTrader stages are exceptionally secure, the way Global FX has been hailed by controllers, individuals and surveys for its validity and fakeness implies we can’t confide in the company’s wellbeing conventions. So we propose taking a gander at other-directed specialists.

Global FX Verdict

Global FX offers a comprehensive scope of exchanging instruments and monetary standards and admittance to recognized stages like MT5 and cTrader. It additionally provides instructive preparing programs for amateurs and a demo account. In any case, its exchanging costs aren’t competitive, and most eminently, it’s anything but an unlicensed agent that administrative bodies have boycotted

Accepted Countries

Global FX acknowledges traders from Australia, Thailand, United Kingdom, South Africa, Singapore, Hong Kong, India, France, Germany, Norway, Sweden, Italy, Denmark, United Arab Emirates, Saudi Arabia, Kuwait, Luxembourg, Qatar, etc. most different nations. 

Traders can not utilize Global FX from United States, Canada.

Alternatives to Global FX

On the off chance that you are searching for options in contrast to Global FX, we have compiled a rundown of the best five dealers that are like Global FX underneath. This rundown of agents like Global FX is arranged by closeness and incorporates companies acknowledging traders from your area. 

  • OctaFX – OctaFX offers multi-resource exchanging on a scope of stages and portable arrangements. 
  • Global Prime – Global Prime is a multi-controlled exchanging agent offering 100+ business sectors. 
  • RoboForex – RoboForex is a multi-resource online representative contributing amazing exchanging helpers. 
  • FP Markets – FP Markets is a multi-resource representative contribution to a decision of exchanging stages. 
  • FBS – FBS is a top online agent offering MT4 and MT5 exchanging across a scope of instruments.

FAQ

Is Global FX regulated?

Global FX doesn’t hold an administrative permit. As a result, the specialist will not offer a similar degree of assurance as suppliers like the FCA and CySEC.

Does Global FX offer a demo account?

Indeed, Global FX permits you to make as many free demo accounts as you wish. Select ‘Open Demo Account’ on their site to get ready for action with a test system.

How much capital do I need to trade with Global FX?

A base store of 300 USD is needed to trade on the MT5 and cTrader stages. Global FX likewise offers certain advantages while keeping $1,000 or $10,000 in the capital.

Is Global FX a good broker?

Global FX offers a comprehensive rundown of exchanging instruments and money combines and is upheld by believed stages like MT5 and cTrader. Notwithstanding, its restricted believability as an unregulated dealer drives us to encourage against opening a record.

Is Global FX a trustworthy broker?

Two administrative bodies have boycotted global FX. Its questionable administrative center subtleties, absence of data on its organizers and lack of guidelines with a regarded financial position implies we think about Global FX as a conniving merchant.

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