Globchains-Overview of Minimum Deposit, Leverage, Spreads

Globchains | 2022-08-12 18:23

Extrait：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.

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

Globchains Review Summary
Founded	/
Registered Country/Region	Austria
Regulation	Unregulated
Market Instruments	Forex, Commodities, Indices, Shares, Cryptocurrencies
Demo Account	❌
Leverage	1:200
Spread	From 0.7 pips
Trading Platform	Web
Min Deposit	$250
Customer Support	Tel: +442038161279
	Email: support@globchains.com
	Physical address: Rivergate Business Centre, Handelskai 92, 1200 Wien, Austria

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

Pros	Cons
Diverse trading choice	Unavailable website
Various account types	No regulation
Popular payment options	No demo accounts
	No reliable platform
	High minimum deposit ($250)
	Withdrawal fee charged

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.

Tradable Instruments	Supported
Forex	✔
Commodities	✔
Indices	✔
Shares	✔
Cryptocurrencies	✔
Bonds	❌
Options	❌
ETFs	❌

Account Type

Account Type	Min Deposit
Silver	$250
Gold	$5,000
Platinum	$50,000

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.

Trading Platform	Supported	Available Devices	Suitable for
Web-based platform	✔	Web	/
MT4	❌	/	Beginners
MT5	❌	/	Experienced traders

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.