Globchains-Overview of Minimum Deposit, Leverage, Spreads

Note: Globchains's official website - https://www.globchains.com/ is currently inaccessible normally.

Globchains is a financial broker registered in Austria, offering tradable assets including Forex, Commodities, Indices, Shares and Cryptocurrencies. It provides three types of accounts, with a minimum deposit requirement of $5,000 for the Silver account, which has an average spread of 0.7 pips. It's worth noting that this broker is not regulated by any authority.

Pros and Cons

Is Globchains Legit?

No, Globchains is not legitimate at all. Its website is actually anonymous, lacking any information regarding the name of the company operating the entire business. It is advisable for you to choose a broker that is legally regulated.

What Can I Trade on Globchains?

Globchains offers a wide range of trading options, which can be broadly divided into five categories: Forex, Commodities, Indices, Shares, and Cryptocurrencies.

Account Type

Leverage

Globchains claims to offer leverage up to 1:200, but given that the website is anonymous and apparently operated by scammers, you should not consider this broker at all.

Spread

Globchains claims that different account types can enjoy quite different spreads. In particular, the Silver and Gold accounts can enjoy tight spreads starting from 0.7 pips, while the Platinum account is not mentioned specifically in this context.

Trading Platform

Globchains claims to provide a reliable trading platform, but upon completing registration, we found that trading was actually impossible. The only options available on the website were to deposit or withdraw funds. We still recommend you to choose a legal broker providing MT4 or MT5.

Deposit and Withdrawal

The payment methods offered by Globchains include credit cards, debit cards, bank transfers, as well as VISA, MasterCard, OK Pay, and wire transfers.

Withdrawals are subject to fees, specifically: a $50 fee for bank transfers, a $35 fee for credit and debit card withdrawals, and a $25 fee for withdrawals using other methods.