In this Globex360 review, we’ll talk about the basics, including their STP broker and negative balance protection. We’ll also touch on the mobile app for MT4 and the Negative balance protection. And we’ll also talk about the benefits of their business referral program, which rewards Business Referrers or IBs with up to $7 per lot on Classic, ECN Pro, and VIP accounts.
Global Exchange 360
This Global Exchange 360 review will see how this program functions. The program has been around since 2013, and since then, it has facilitated 38 exchanges. It is currently arranging ten more. The program has a relatively low fee compared to the other money transfer services. However, it is worth noting that you can get a free basic plan with a limit of 1000 requests per month. This means that this is an excellent option if you are looking for a way to exchange currency without risking any money.
STP broker
As one of the first black-owned forex brokers in the world, Globex360 is making a splash. Founder Mkhulise is challenging the status quo and encouraging more women to venture into the world of forex trading. The Financial Sector Conduct Authority (FSCA) regulates the company’s financial services in South Africa, which promotes fair treatment and financial education. Moreover, Globex360 wants to create a stable environment for its clients, which is why it is committed to keeping customer assets safe. This is achieved by keeping customer funds in a segregated account, which means the broker cannot use them for day-to-day operating costs.
The client account at Globex360 has several advantages, including commission-free trading and lower minimum deposits. Additionally, clients can use an expert or a manual trading robot to perform automated trading. Moreover, the broker provides MT4 and MT5 trading platforms, including a demo account that is free and unlimited.
Negative balance protection
Negative balance protection (NBP) is one of the features offered by some brokers. It will protect you against losing money if you do not make your deposit on time. If you lose your money, your broker will take action to collect it. This feature is available with some brokers, including Globex360.
A good way to ensure you’re protected from loss is to ensure the firm you’re dealing with is regulated by the Financial Sector Conduct Authority (FSCA). The FSCA oversees financial institutions in South Africa, and its mission is to provide investors with fair treatment and financial education. While this may sound like a small detail, ensuring your account is safe is important. A good broker will keep your money in a segregated account, separate from the one the company uses to operate.
MT4 mobile app
This Globex360 mobile app review will discuss some of the features of this trading app. It is also available on the desktop version of the brokerage’s website. The mobile app includes many of the same features as the desktop version. In addition, you can use the same account to access both platforms. MetaQuotes released its MT5 trading platform in 2010 after the success of MT4. The platform offers advanced trading features, such as one-click trading, 21 timeframes, expert advisers, and customizable charts. This app is compatible with Windows and Mac and can be configured to suit individual trading needs. The mobile app is available for download, installation, and registration.
You can use a virtual trading account if you’re not comfortable with the risk of small trading lots. With this virtual broker, you can copy trades from others without dealing with the risk of losing your money. With a demo account, you can practice trading for up to $50. You can choose from two account types: Pro and Expert accounts. A standard account will allow you to trade with a minimum balance of $25,000 and leverage up to 1:500. It also allows you to trade with precious metals.
Spreads
For traders interested in speculating on the currency markets, Globex360 offers competitive spreads. The average spread is just 0.2 pips on EURUSD, GBPUSD, XAUUSD and US30. However, the company also charges high commissions on all accounts, which is unusual for brokers with wide spreads. Another downside is that the spreads are not printed on the website, which makes it difficult to determine actual trading prices. Still, there are several ways to get in touch with client support and learn more about the company’s services.
Aside from providing competitive spreads, Globex360 also offers hedging and scalping features. The minimum position size is 0.01 lots, and the maximum is 50 lots. Traders can also take advantage of free account management, educational events, and automated trading.
Commissions
There are a few ways to earn extra cash while trading on the forex market. First, you can opt for a Globex360 pro account. This account type has a maximum leverage of 1:300 and can be traded on MT4 and MT5. You can also receive free account management. Alternatively, you can also opt for the expert account, which requires a minimum deposit of $5000 and allows you to trade lots of 50. It also includes free account management, educational events and an automated trading feature.
Commissions on Globex360 are competitive with other reputed brokers. The basic account offers a commission of 12 USD per lot. A VIP account offers better conditions. You can also choose from a VIP account with a minimum spread of 1.2 pips and a maximum commission of $8 per lot.