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GLOBTREX

GLOBTREX
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is based in Cyprus and has branches in the Czech Republic and Poland, however, the domains of these branches are no longer active.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.

 

 

GLOBTREX is a brokerage company whose task is to provide intermediary services to traders. Brokers provide access to currency trading in the first place. Many of them also provide an opportunity to transact with company stocks, bonds, commodities, precious metals, indices, cryptocurrencies and other assets. A private person can make transactions with all these instruments only on the trading platform, which the broker provides access to.

In addition, thanks to the brokerage company, an individual can operate on the market with amounts that significantly exceed the size of their own funds. This is called providing leverage. For example, having a deposit of 1,000 USD with a 1: 400 leverage, a trader can make deals for 400,000 USD.

The broker also opens access to analytics, auxiliary tools, and trading signals. Modern trading is impossible without all this.

What is the benefit of a broker?  

 

The broker GLOBTREX makes profit from traders' transactions, as a rule, in two main ways.

The first is the most common. Using spreads. This word refers to the difference between the best prices for buying and selling a particular asset at a particular moment. Moreover, in a transaction between a trader and a broker, the price is one, and between a broker and users of the Forex market - another. The mediator takes the difference for himself.

The second way is easier to understand. This is the collection of a commission for each transaction performed. Most often it has a standard value, but it can be measured as a percentage.

Thus, the brokerage company is interested in attracting as many clients as possible and for them to conduct active trading.

 

Ways to cheat customers  

 

We have found out how honest brokers should work and how they work. Now let's look at how scammers operate, they are also called the kitchen.

The most common way to cheat is to tweak quotes. The broker provides the trader with quotes that differ from the real market ones. Data substitution occurs in order to make operations unprofitable. The deposit is reduced, and then completely zeroed out. At the same time, the trader thinks that his operations were carried out in the market, but in fact - only on the site of scammers.

Bonuses are traps. They are generously distributed for anything: for registration, account replenishment, etc. Only after that, in order for the client to withdraw his own money, mixed with bonus money, it will be necessary to fulfill a number of virtually impossible conditions. For example, conduct trading operations for an amount tens of times greater than the size of the deposit.

In the User Agreement, a clause can also be disguised that allows the broker to manage the client's money. Inattention when reading such an agreement most often turns into a complete loss of the deposit.

 

Where are brokerage companies registered?

 

One of the key points is the place of registration and regulation of the company's activities.

Let's talk about registration first. As a rule, brokers from either their own country or from an economically developed country, for example, a member of the European Union, are more credible to traders. Of course, compliance with UK legislation is reassuring, and compliance with the legislation of an unknown island in the Indian Ocean does not mean anything to most.

However, most brokerage companies are registered offshore. And it's not only about small offices, but also about world leaders. Saint Vincent and the Grenadines, Belize, Marshall Islands, Mauritius are offshore zones popular among brokers. By registering there, companies pay significantly less taxes than in the place of actual location, which is sometimes carefully hidden.

If a trader has any claims against such a company, then it is likely that he will have to deal with it in accordance with the legislation of that very conditional Belize. It is possible to be physically present there at the court sessions. And this is extremely expensive and difficult.

But is it worth running like fire from just the word "offshore"? As an answer, we will give the names of companies that are not related to brokerage, but with an impeccable reputation and also save on taxes through offshore registration: Apple, Pfizer, Microsoft, General Electric, Intel.

And here we come to the second important point - this is the regulation of the broker's activities. First of all, it is carried out at the level of the state where the company is registered. Each country has its own regulatory body for brokerage activities. So, in Russia it is the Central Bank of the Russian Federation. A trader can find permissive documentation on the websites of such bodies. But there are also supranational structures. For example, the International Financial Commission (The Financial Commission), which is an independent self-regulatory organization,   considering disputes between its members - brokers and their clients.

If the broker's website does not contain information about the regulation of its activities, then these are almost certainly scammers. Or the site contains information about a certain license issued to him, but this information is not confirmed anywhere else. Most likely, these are also scammers.

 

What else to pay attention to?

 

When choosing a brokerage company, study its history. Check out the links to her experts. If one of the leading TV channels in economic news for 5 years in a row refers to the opinion of the analyst of the broker in question, this is good. If a broker claims to have been working for 15 years, but there is no information about him on the Internet at all, this is bad.

It's important to pay attention to company reviews. And read them not only on the website of the broker itself. In the kitchen, they will probably only be laudatory. It is best to browse as many sites as possible.

Pay attention exclusively to the specifics in the offers on the brokers' websites. Honest companies openly write about interest, spread size, minimum deposit, etc. Fraudsters lure with loud, streamlined phrases about a rich tomorrow, stable income, misleading with incomprehensible terms about multi-sites, super functions, and so on.

Find out the company's connection with well-known brands, financial institutions, public organizations. For example, it can be sponsored. Large brokers sometimes hold social promotions. Fraudsters will definitely not do this.

Thus, the process of choosing a broker is complex. But if you approach it carefully, it will allow you to enter the world of trading, which has made millions of people rich all over the world.

FAQ - broker questions

  • 1. Do the trader reviews impact on a rating of GLOBTREX ?

    Any feedback can raise or lower the rating company. To read reviews, go into the rating and select your broker.

  • 2. How to leave a comment about GLOBTREX on the website 4ex.review ?

    In order to leave a review about the broker, go down page, enter a valid email and Your review with an overall score. Reviews are moderated and tracked by the number of comments from the same IP or email. Tech support may request the actual documents that prove that the user was or is a customer of the broker. This rule applies to negative and positive reviews. We want our portal to be honest and independent.

  • 3. Can we assume the broker GLOBTREX decent?

    Before any trade and choosing a broker You must always read reviews on this site and on other sites. Brokers who are honest, have a rating of above 3.8. Also there is always the risk of loss when trading CFDs. Be careful and read the disclosure on the website of the broker. GLOBTREX received a score of 1 of 5 on our resource.

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