Globex 360 is a new broker that has been established in South Africa. It was originally released in 2019, and it is regulated and licensed by FSCA., which makes it a trustworthy broker.
Globex 360 provides an MT4 trading platform. It is compatible with desktop and mobile apps. Mobile users can take advantage of the Globex360 app developed by Globex360. It provides several assets for trading, and other tools, such as CFD and indices trading, provide a number of currency pairs and commodities such as oil, silver, and gold. The leverage is 300:1 maximum, and spreads are between 1.3 and 1.6 pips. It also provides a demo account facility so the traders can test their skills and apply different strategies for testing. The deposit amount is not very high. It is just $100 for a standard account and $200 for other accounts.
Is Globex360 a Legit Broker?
Globex360 is regulated by FSCA and has a licence on July 10th, 2019. The licence number is 5030. You can also see the licence details on the website of FSCA.
If you are a trader, you must know that GlobeX360 is not a scam. A governing body verifies it, and they also have a license, which assures new traders that Globex360 is not a scam but a legit broker.
Is Globex360 safe?
Yes, trading with Globex 360 is safe and secure. The FSCA is a regulatory body that ensures brokers are not defrauding customers and prohibits brokers from participating in compensation schemes or offering false values. However, many people reported that Globex 360 was a scam.
Globex360 is a broker in South Africa that was founded in 2017. Its headquarters are in South Africa. Although it was established in 2017, it was regulated in 2019. FSCA also licences it. The FSCA applies new terms and conditions for a licence called an ODP license, but Globex360 is not eligible for an ODP license.
The FSCA’s condition for South African clients is not to open an account at the broker company to avoid fraud. Because many traders reported that Globex 360 does not offer negative balance protection, the clients face a loss instead of a profit. The FSCA also applies to the competition scheme. In this condition, the broker should refund the money in the event of liquidation.
The FSCA also implements a compliant service. So that the traders can complain about the broker if the process of withdrawal is very slow or if the broker is not responding to customer service.
The FSCA approved that Globex360 is regulated to follow all the terms and conditions applied by the FSCA. But still, traders should be careful with their money.
Globex360 is a regulatory body that offers trading facilities. However, the commission and spreads are high in Globex360. But the traders can earn a huge profit due to leverage. Furthermore, the trader can use a demo account to test the broker. The FSCA makes sure that the broker is not a scam but a genuine broker.