Global FX Quick reference
Global FX is one of the famous ru-brokers. It appeared in 2009 and has been collecting motley reviews, feedbacks and media reports for 11 years.
In 2020, Global FX finds new customers with the help of the MFC Group consulting company and advertisements in Yandex and Mail.ru. If you are now deciding whether to open an account with the broker, do not rush. We offer you to read this help without ratings and draw your make conclusions.
Top 5 facts about Global FX
- Global FX emerged and began the “period of international expansion” in 2009.
- In 2014 the company entered the Russian market.
- The most successful year was 2017, when Global FX became the best broker in Russia and Europe.
- Global FX has a “powerful analytics team”: 20+ years of experience per person.
- The company focuses on “innovative technologies in trading” and “is not going to stop there.”
Bonus fact from the BrokerTribunal. Traffic analysis shows that in 81% of cases, Global FX prefers to work with Russians, and in 10% - with Ukrainians. The remaining 9% are accounted for by Americans, Germans, British, etc. By the way, the company calls itself international.
Documents of Global FX
It is known that Global FX is a registered trademark. And also we know that the broker is a part of the Global Group holding. That's all.
It would not be possible to find scans of documents with the headings “Registration” and “License” on the site.
Nevertheless, there is a tab “Legal Information”. And there you can find “Client agreement”, “Money back policy”, “Anti-money laundering policy”, etc. To protect yourself in the future, you need to read these documents before registration.
Portrait of Global FX
When the broker names its advantages, it uses two abbreviations, which for most of people may be unfamiliar.
- STP-technologies. This means that orders are executed instantly. Transactions are directly transferred to the interbank market, bypassing the broker.
- ECN-accounts. And this suggests that orders are drawn on liquidity providers and executed by satisfying counter applications.
Liquidity providers are Integral, Fixi, Quotix, and Interactive Brokers.
We should admit that STP and ECN are modern solutions. You must have focused on the fact that in this model the broker is on the sidelines. So it is: in theory, Global FX only opens accounts and earns on commissions.
Trading conditions of GlobalFX
The broker offers to trade in currency pairs, CFDs on stocks, indices, metals and raw materials. In total there are 1,200 instruments, and 1,000 of them are contracts for difference.
Global FX gives you a choice of three types of accounts. The user will also have to decide on the terminal: MetaTrader5 or cTrader.
The first type of account is “demo”. Alas, there is no information on how much virtual money a trader can count on.
The second is real. For trading in MetaTrader5 and cTrader, the conditions are almost the same. The minimum deposit is $ 300. Leverage is floating, but the maximum is 1:30. Margin call level is 20%, and stop-out is 50%. The maximum volume of lots is 100.
If a trader prefers to trade in MetaTrader5, he will have to pay $ 7.5 per lot of currency, the same amount for goods and 0 for CFD. And if he has chosen cTrader, then he will face a larger fee - $ 10 for currency and goods. CFD trading will also cost $ 0.
The third account is VIP. Global FX divides VIPs into three groups. The more money in the account, the more “goodies” the trader gets.
- Professional: deposit is from $ 50,000 → 24/7 manager, general courses, cashback is 10%, account replenishment is without commission, advance replenishment of 50% of the replenishment amount, two consultations per month with risk managers.
- Gold: deposit is from $ 100,000 → 24/7 manager and analyst, general and advanced courses, cashback is 20%, replenishment is without commissions, advance replenishment is 80% of the replenishing amount, 4 consultations per month with risk managers.
- Platinum: deposit is from $ 250,000 → 24/7 manager and analyst, general and advanced courses, master classes, cashback is 35%, replenishment is without commissions, advance replenishment is 100% of the replenishing amount, 6 consultations per month with risk managers.
Also, each of the VIPs can apply for “individual terms of trade”. But you can find out about them in a conversation with a consultant.
Global FX accepts money from MasterCard and Visa bank cards. Rubles, dollars and euros are available currencies. And also electronic payments in Tether to the wallet are available.
To withdraw earned funds, you need to apply. They promise to process the last one no more than 7 days.
Global FX offers an extraordinary solution - profitability calculator.
A trader can find out his/her potential benefit. To do this, he/she needs to choose a period (day, week or month), enter the amount of the deposit, select the dates, instrument, transaction volume in lots and indicate the price change. Finally, click the “Calculate” button and get the result.
The calculator can be used to calculate strategies.
Registration on the GlobalFX website takes a lot of time. This procedure needs 5 steps. What does the user need to do?
- Introduce yourself: name, surname, patronymic.
- Leave information about yourself: home address, email, phone, date of birth. Here you need to come up with a password.
- Download documents for the conclusion of the contract: color copies of the pages of the passport with a full name and registration, as well as a photograph of the utility bill.
- Disclose financial data about yourself - at will: the amount of equity, the amount of total annual income, employment.
- Finally, tell the broker about trading experience and agree that derivatives are a risky tool for making money.
But if you think that after this you will enter your account, you are mistaken. Registration must be confirmed by mail and only then can be mastered.
The three most important functions in the profile are to deposit funds, ask a question and open an account. In response to the last action, an e-mail is sent with a link to download MetaTrader 5 and data for entering the terminal.
Global FX services
Global FX has a wide portfolio of services.
- Training. A trader is offered a glossary of terms, a list of references, video tutorials on analysis, money management and strategy development.
- Analytics and trading ideas. GlobalFX has a lot of things: reviews, forecasts, technical analysis, a holiday calendar, an economic calendar and a reporting calendar.
- Algorithmic trading. The broker recommends connecting a robot - a program that contains data on quotes over a long period.
- Copying of transactions. Also with Global FX you can count on access to the deals of successful traders.
All these services are needed to facilitate the activities of customers.
Global FX, according to the official website, can be found in many countries. The headquarters is in Canada. Head office is in Hong Kong: Grand Millennium Plaza, 181 Queen’s Road Central, 7 / F, Low Block. You can call +85239733963 here.
There is also an office in Singapore: Marina Bay Financial Center Tower 1, 8 Marina Blvd. +658004922466 - for calls. And the address in New York is 300 West 57th Street. The phone number is +19179937738.
Global FX also receives calls on 8 800 550-79-91. But if it is more convenient for you to communicate in the form of correspondence, you may use email - firstname.lastname@example.org and a feedback form.
On its website Global FX writes that it receives “thousands of feedbacks” and they help it to“develop and improve the quality of service”.
If you have already interacted with a broker, we invite you to speak. Your short feedback will be useful to traders who decide whether to open an account with Global FX.