Global FX-Overview of Minimum Deposit, Spreads & Leverage

GENERAL INFORMATION AND REGULATION

Global FX is a STP service where clients can trade in forex, indices and cryptocurrencies on MT5, cTrader and CopyDeal platforms. Global FX was founded in 2009 under the Global Group financial holding company. Shortly after, Global FX expanded its operations in Hong Kong, Singapore, and the USA, further giving attention to the Russian market in 2014. Global FX have recently moved their head offices to Toronto in 2019. However, Global FX does not provide services to American and Canadian citizens.

The brokerage offers clients 1200 trading instruments, including access to 36 world stock exchanges. Yet despite over 10 years in operation, Global FX remains unregulated. Regardless of these assets and other services the broker Found to be unregulated and unlicensed, therefore Traders are advised to stay away from all unregulated Brokers.

MARKET INSTRUMENT

Clients can trade in a range of 1200 trading instruments from 36 world stock exchanges across 18 countries, including:

• Forex – 76 major and exotic currency pairs

• Stocks – 1440 stocks available from recognisable names such as 3M, Adobe and Coty Inc

• Indices – Trade in 14 leading indices, such as Nikkei 225, Dow Jones and FTSE 100

• Cryptocurrencies – 16 pairs of coins available, comprising popular brands such as Bitcoin, Ethereum and Ripple

• Metals – 6 pairs available in silver, gold, palladium and platinum with Euro or US Dollars

• Commodities – Trade in oil and gas.

ACCOUNT AND LEVERAGE

Global FX offers one standard account type for all clients with a minimum deposit requirement of 300 USD. The maximum market volume lot size is 100. If clients deposit at least $1,000, they get a forex trading course and advice from a personal manager. To add, clients who deposit at least $10,000 in capital get discounts on trading commissions and are provided with an analyst to advise on forex trading strategies.

Global FX‘s login processes are fairly straightforward. Creating a live account involves filling out a form on their website and submitting passport details and documents. Once approved, you will have access to MT5 and cTrader terminals. Sign into the client’s area and start trading and withdrawing funds once youve added a minimum of 300 USD into your account.

Global FX offers generous floating leverage up to 1:1000 on both MT5 and cTrader platforms. Users can change credit leverage on their profile pages. However, as Global X is unregulated, users should be aware of the risks when configuring leverage on their trading accounts.

SPREADS AND COMMISSIONS

Live spreads are variable at Global FX and start from 0.1 pips. Typical spreads on leading pairs EUR/USD are 0.2 pips and 0.4 on EUR/GBP with forex commissions starting from 7.5 USD per lot on MT5 and 10 USD on cTrader. Spreads on the FTSE 100 index come in at a hefty 2232 points. Bitcoin spreads vary from 200 to 6500.

To clarify, Global FX charges 7.5 USD for forex and 10 USD for commodities on the MT5 platform, whereas cTrader comes with a flat 10 USD commission. Service fees are charged on cTrader accounts, at 5 USD per calendar day. Therefore, trading costs are above the industry standard, when compared to the more competitive prices offered by other brokers.

TRADING PLATFORM AVAILABLE

The Broker offers MetaTrader 4 and cTrader as the trading platform.

MetaTrader 5

Global FX clients can trade with MT5, an updated platform to its MT4 predecessor. The platform supports a wider range of tools and analysis, which includes the following features:

• 21 timeframes

• Easy access to market volumes

• Built-in news feeds and economic calendar

• 82 technical indicators and analytical tools

• Ability to trade with multiple financial instruments from one account

cTrader

cTrader is a leading multi-asset platform for forex and CFD trading. Its trading terminal runs on STP technology, making entry and execution instant. cTrader also boasts an impressive suite of 70 indicators and 28 chart timeframes, plus advanced level forex scalping strategies. This is thanks to its one-click transaction feature and adjustable minute timeframes. cTrader Copy, (formally cMirror), is also a fully integrated feature of the cTrader platform, allowing for the automatic opening and closing positions by copying trading signals.

CopyDeal is a social network that bridges professional and new traders. The automated copying of strategies is available. A copy ratio is manually set but CopyDeal lets you modify and fine tune your strategy. The user is also able to test the profitability of several strategies with its built-in equity chart

DEPOSIT AND WITHDRAWAL

To finance accounts, the Global FX trading group offers 2 instant deposit methods:

• Credit/Debit card – Visa & Mastercard

• Electronic payments – Tether

The currencies available for deposit are RUB, EUR and USD for card payments and USD for electronic payments. Deposit time on all options are instant with no commission.

On card payments, withdrawals come with a flat fee of 7 USD, plus 3% of the amount withdrawn and can take up to 7 business days to process. Note that withdrawals on card payments are only available in RUB and USD. Electronic payments on Tether come with a 1% withdrawal commission.

CUSTOMER SERVICE

The Global FX support team is available 24/5, Monday to Friday. They can be reached via email at support@global-fx.com. Those who prefer to speak on the phone can call them on +85239733963 (Hong Kong based number).

The broker‘s newest Toronto head office is not highlighted on their ’Contact Us‘ page. The more reliable address would be their Hong Kong office in Grand Millennium Plaza, 181 Queen’s Road Central, 7/F, Low Block, Hong Kong. Theyre open Monday – Friday, 10:00 – 21:00.