FXGlobe CFD Broker Review 70

FXGlobe.com is a CFD trading company that is fully licensed in the Republic of Cyprus. The company registration number is HE254133, and it is regulated by CySEC (Cyprus Securities and Exchange Commission) with license #205/13. FXGlobe offers innovative trading solutions such as Margin FX and trading accounts tailored to traders of different experience levels. This interactive online community is guaranteed secure, with a wide range of financial assets to trade.

Overview/Background

FXGlobe.com is first and foremost a CFD and Forex brokerage. This company is fully licensed and regulated by the Republic of Cyprus and the Cyprus Securities and Exchange Commission. Traders have access to a real-money account and a demo trading account, with rapid withdrawals, instant trades and 24-hour support. This global trading community supports FX trading, indices trading and commodities trading in a customized environment with a wide range of tools and experts on board. FXGlobe.com offers additional security in the form of the Investor Compensation Fund, which is restricted to clients of Cyprus investment firms, as well as investment firms which are not credit institutions. This adds an additional layer of credibility to the brokerage. The company has been operating since 2013, with a wide range of affordable pricing on multiple trading assets.

Account Types

There are two basic account options available to traders – a live account and a demo account. You can decide which one works best for you, and you can switch between them at your leisure. The Razor Account offers spreads starting from 0.0 pips, and there is no slippage, no delays and no dealing desk execution. All in all, traders have access to 100+ financial assets across the board (commodities, currency pairs and indices). To get started with a trading account, simply enter your name, country, and confirm your information. You will then be redirected to the profile completion page with the various options available to you. The demo account will request information about your trading experience. You may have less than three years of experience or more than three years of experience, and this information is fed into the system when you open an account. Once you agree to the terms of trade, the demo account platform on MT4 will open. It is possible to open up to 2 practice accounts, but you can open more by contacting customer support. The Standard Account and the ECN Pro accounts offer unique benefits to traders, depending on your personal needs.

Trading Platform/Software

The platform uses MT4 trading software to offer the best possible solution for CFD traders. The software can be accessed from mobile devices (iOS and Android), from web-based devices and your desktop. The technology offers superior trade execution and is delay free. No re-quotes or rejects are possible on the platform. Other features of the platform include 24/6 customer support via live chat, telephone or email, multilingual customer support in 12 languages and a personal account manager. The trading platform also offers daily market reviews, training videos, e-books and webinars. We found the platform to be intuitive and useful. WebTrader is the preferred option for traders seeking technical analysis and charting features. It offers 1-click trade execution, and economic calendar and runs direct off your browser – no download or installation required. MT4 – MetaTrader is the preferred platform for millions of traders around the world. It is fully customized with EA creation, analytical tools, multiple trading instruments, and free market analysis. For mobile traders, the FXGlobe mobile trading platform runs smoothly on multiple Android and iOS devices and allows for newsfeeds, tracking open positions, and viewing charts.

Deposit options

A wide range of deposit options is available to CFD traders at FXGlobe. These include MasterCard Debit, Visa Debit, Visa Electron, MasterCard, Maestro, Visa, Bank Wire Transfer, Discover Card, Diners Club International, Skrill, Neteller, PaySafeCard and others. All payments options are secured with Comodo SSL certification.

Markets

FXGlobe offers a wide range of CFDs and indices for traders. These include the following options:

  • Currency Pairs – AUD/USD, EUR/USD, GBP/CHF, EUR/GBP, GBP/USD, GBP/JPY, USD/CHF, NZD/JPY, NZD/CAD, GBP/NZD, EUR/ZAR, EUR/PLN, XAU/EUR and others. The trading hours run around the clock, and marginal requirements range between 0.25% – 1%. Spreads vary depending on the currency pairs you are trading, with floating spreads available too. The pricing format is typically 0.0001 and various long swap and short swap options are available.
  • Commodities – commodities include XAU, oil per barrel and XAG. Commodities typically trade between Monday and Friday from 12 AM GMT through 11:15 PM GMT, except for oil which trades through till 10 PM GMT. Pricing is in the format of 0.01 and all commodities are priced in USD.
  • Indices – indices include the top 40 France stocks, Japan top, top 30 Germany stocks, top 100 UK stocks, US IND, US top and US tech. The margin requirements are either 1% or 2% on most indices.

Bonuses

If you navigate to the promotions tab, you will see the list of promo offers available to new traders. At the time of writing, there were no bonuses, save for free Forex signals from the brokerage.

Customer Support

Traders can get in touch with customer support in several ways. The first is the Cyprus telephone number: 357-25870060, or the mailing address. This is listed as 7 Omirou St. 2nd Floor, Limassol 3095, Cyprus. The contact us section features additional ways to get in touch such as an online contact form and an email address: [email protected] Customer support hours run from 9 AM through 5 PM Sunday through Saturday. We found support to be helpful, professional and responsive.

Safety

There are several ways that your information is protected. For starters, all client funds are kept in segregated accounts at leading banks. The company is fully licensed and regulated to offer its services across Europe by CySEC. (License #205/13). The company registration number is 254133. Additionally, the integrity of all personal information is secured with SSL security systems. All legal information is available in the legal page of FXGlobe.com. As for payments processing options, these are all guaranteed secure.

Ease-of-Use

FXGlobe is relatively easy to navigate. The toolbar at the top of the page lists all features and functions available at this CFD brokerage. The traders zone is where most of the activity takes place as it includes the Forex products, trading platforms, resources, economic calendar and calculators. Once you’re logged into your live trading account or your demo account, you will have access to all the features available at this brokerage.

Final thoughts

FXGlobe.com is a reliable brokerage for CFD traders. FX pairs, commodities and indices are available, with competitive spreads, trading hours and pricing. The promotions are a little light, but they are friend referral offers as part of the Forex partners section. The technical tools (charts, videos, webinars etc.) are particularly useful and complement the MT4 trading platform well.

Pros

  • Demo Trading Account
  • 1 on 1 Personal Training
  • Standard Account and ECN Pro accounts
  • Wide Range of Tradable Assets in CFD Format
  • Cyprus Securities Exchange Commission Regulation

Cons

  • No Bonuses Available
  • Restricted to Regulated Jurisdictions
  • No info on minimum deposits
FXGlobe Overview
Website: www.fxglobe.com
Regulation: CySEC
Assets offered: Forex, commodities, CFDS and Indices
Minimum Deposit: $250
Deposit Options