Global Edge, registered in China in 2014, offers a range of trading tools including forex, cryptocurrency, and stock trading on its self-developed platform. A unique feature of this broker is its special trading service, allowing you to choose trading masters and then automatically copy their trading strategies. However, Global Edge is not regulated by any legal institutions.
Pros and Cons
Is Global Edge Legit?
Global Edge is not regulated by any financial regulatory institution. Consequently, it is important to exercise caution and verify its authenticity before trading with Global Edge.
What Can I Trade on Global Edge?
Global Edge provides more than 120 kinds of trading tools, including forex, cryptocurrency and stocks. However, specific types of these instruments are not available on its official website.
Account Type
Global Edge offers only one type of live trading account with tight spreads starting from 0 pips. Moreover, it does not provide demo accounts, which are unfriendly for beginners.
Global Edge Fees
Global Edge does not specify on their website whether any commissions are charged. However, it does require a margin, with a standard lot size of 100,000 units. They also offer mini lot (10,000 units), micro lot (1,000 units), and nano lot (100 units). The larger the lot, the greater the margin amount required. The margin allows you to trade with leverage, which also affects the margin amount.
Trading Platform
Global Edge only supports trading through its own web-based trading platform. It does not support globally renowned leading trading platforms such as MT4 or MT5.
Deposit and Withdrawal
Global Edge does not charge deposit fees, but its withdrawal terms are complex and involve 15% fee, which serves as a warning sign. As many cheat brokers employ tactics such as raising barriers or other means to hinder withdrawals. Its specific rules are as follows:
- Batch withdrawals: Withdrawals are processed in batches every three months. This means that any withdrawal requests will be collected and processed at the end of each three-month period.
- Withdrawal processing time: Once the withdrawal is processed, funds will be allocated to your account within 2 business days.
- Profit withdrawal policy: If you meet the withdrawal criteria, you can withdraw 50% or 100% of your profits. Half of the profits can be withdrawn in each batch, and the full amount can be withdrawn every 2 months. In addition, a 20% handling fee is charged for each operation.
As you can see, it is nearly impossible to withdraw all your assets in a single and it may take up to three months to fully extract your funds. Be wary of this broker and stay away from it!
Customer Service
Global Edge allows contact through online chat and email.
The Bottom Line
Overall, although Global Edge provides over 120 types of trading instruments, you can only trade on its self-developed platform, Global Edge. When you want to withdraw profits, you will find that it is extremely difficult. As this trader is not subject to any legal regulation, there is no guarantee that you will be able to easily withdraw funds, recover your initial margin deposit, or even make profits. So you are advised to stay away from Global Edge.
FAQs
Is it safe to trade with Global Edge?
No, trading with Global Edge is unsafe given the lack of legal regulation.
Is Global Edge good for beginners?
No, Global Edge is not good for beginners, as it operates without regulation, lacks demo accounts, charges high margin and sets complex withdrawal requirements.
What trading platform is available at Global Edge?
Global Edge only supports trading on its self-developed platform Global Edge.
2024-08-22 07:25
