FXGlobe Review 2022: An ECN Broker
The official website clearly states their working areas and what they know in the trading business. FXGlobe is a fully dedicated Forex brokerage firm with innovative features in forex trading. They aim to work out every possible way to make traders have a smooth and easy trading experience. FXGlobe believes in catering optimized trading, technology and other services to be a quality provider. It started for a group of friends in 2008 FXGlobe hasn’t looked back since then. A nine-year-long journey towards a successful brokerage firm. The simple logic they had at the start was public needs help in trading; with that straightforward approach, they came up with this technically sound idea of FXGlobe.
FXGlobe Review: Pros and Cons
- A regulated firm
- Several trading accounts
- ECN Broker
- Various funding options
- MetaTrader4 Platform for trading
- Segregated bank account
- No American clients
- No information on daily market trends
- Limited non-FX instruments
FXGlobe Review: Regulations and License
FXGlobe Ltd. is regulated and monitored by the Cyprus securities and exchange commission (CySec). The firm has services of order execution, reception, safeguarding, and loan granting facilities with foreign exchange services on behalf of the clients within the European Union. FXGlobe holds a CySec license with registration number 205/13 in forex trading.
With twenty-two other regulatory authorities, FXGlobe has the best securities to protect client data and maintain transparency with traders. With high standards and strict rules, they work in the investment sector. In addition to this, they have shared all the privacy policies and risk disclosure documents for clients convenience.
FXGlobe Review: Trading Accounts
FXGlobe puts the clients first, with four types of accounts for trading it enhances the flexibility, security and forex trading. Moreover, the accounts have an option of FX Major, FX Minor, FX Exotic, Commodities, Indices and Shares to trade.
A standard account is the primary account of FXGlobe with available currencies EUR/GBP/JPY/USD. In a standard account, the trader can trade in CFD’s, Commodities, Forex, Indices, and Precious Metals using the MetaTrader4 platform. In addition, it provides news, automated trading, hedging, scalping, negative balance protection and expert advisors making clients trading trouble-free.
Services of a minimum trade size of 0.01, no dealing desk, and customer support are provided with a minimum deposit of $250.
FXGlobe Pro account deals in CFD’s, Commodities, Forex, Indices, and Precious Metals with tools like MetaTrader4 and business model of DMA and ECN. It has the same currencies to trade as a Standard account. The account has a minimum deposit of $1000, with variable spreads starting from zero pip, providing expert advisors, scalping, hedging, news trading, PAMM/MAM and swap-free option.
It has a marginal call of two hundred per cent, a minimum order lot of 0.01 and no balance protection.
ECN Razor Account
A more advanced account with the facility of a dedicated manager, helping at every point to solve the issues of traders. The services remain the same with some extra benefit to the account holder as ECN razor has a special account manager. It has a minimum transaction size of 0.01 lot, spreads starting from 0.4 pips and a minimum deposit of $2000.
Services are the same as Standard and Pro account, MetaTrader4 platform, scalping, hedging, expert advisors, and negative balance protection.
Razor Plus Account
Razor Plus Account is the professional account with the same services as ECN razor account, a dedicated account manager, a minimum transaction size of 0.01 lot, MetaTrader4, scalping, hedging, expert advisor, no balance protection, lightning-fast STP execution, competitive commission on trade, no dealing desk, and only charging a commission on traders winning trade. A minimum deposit of $3000 is required to open a razor plus account and avail of the services.
A highly advanced account with technical support.
FXGlobe Review: Account Opening
The account opening process of FXGlobe is simple; a trader needs to first register with the broker on the homepage of the website. The details of the trader and their ID proofs with a photo of the trader are required in the documentation. In addition, clients addresses and bank details are also asked for transaction purposes with the bank statement for verification of account.
As the trader fills in all the required details, they can start trading online. Every account has a minimum deposit to be paid as the broker trades in a currency like USD/EUR/GBP/JPY and other payment processes.
FXGlobe Review: Trading Platforms
FXGlobe provides four trading platform services to have safe and advanced functioning of Trading. The platforms are innovative and technical, Web, MetaTrader4, Mobile Trading and Mac OS.
WEB platform is the most utilised service of FXGlobe broker, with several features and trending technology this platform has every need of the client trading. Tools like charting, professional trading analyses, accessible market, one-click trade, economic calendar, and market updates provide all these in one account. In addition, the service could be used anytime without any installation involved.
MetaTrader4 is the primary and most widely used platform in the trading market. Millions of traders prefer MetaTrader4 as a choice to trade, serving all the levels of traders from skilled to beginners. A desktop platform with expert advisors, powerful analytical tools, multi trading instruments and free market analysis. A technical platform furnished with charts, graphs, easy market access, and one-click trade. The platform could be used on Mac, Windows, Desktops, Android, iPhone and tablets.
Mobile Trading is the user-friendly use of the broker service over mobile devices. The mobile application of the brokerage firm is available online through the play store. Using the service on multiple devices with tools and features. The simple interface helps the trader eye on the transactions, market ups and lows, analyses, trade, and news at one click.
MAC OS service of the platform is for Apple users who have devices working on Apple systems. The service helps in running the MetaTrader4 on MAC efficiently. A trader must download the MT4 application for MAC and run it; the customer support system is always there to serve in any difficulty.
FXGlobe Review: Trading Instruments
FXGlobe is a forex trading firm with instruments trading in foreign exchange. These include :
- Major forex pairs
- Minor forex pairs
- Exotic forex pairs
- Precious Metals
The stocks and indices are in the U.S, U.K, German shares and Japanese shares.
FXGlobe Review: Commissions and Spreads
The FXGlobe has variable spreads for the currency it trades in; generally, low spreads are maintained.
The commission charges of FXGlobe depends on the account used for trading; all the accounts have zero commission charged with additional charges on the trade income of the trader. They charge only when a trader earns profit, not on the deposited capital of the trader.
FXGlobe Review: Leverage
The maximum leverage of FXGlobe is 1:300. Leverage is the ratio that doubles the profit of the trader with increased risk. That’s why it is always recommended that low leverage should be held to avoid the risk of huge loss.
FXGlobe Review: Deposit and Withdrawal
Each account of FXGlobe requires a certain amount of a minimum deposit and no limit on a maximum deposit. A Standard account needs a trader to deposit $250 as a minimum deposit; a Pro account has a minimum deposit of $1000; an ECN razor account minimum deposit is $2000; and lastly, Razor plus account requires a minimum deposit of $3000. There is no maximum limit for deposits.
FXGlobe does not take third party payments, and because of regulations, the payment is processed within twenty-four hours. For the payment process, a trader of FXGlobe can use the following processes –
- Credit cards/ Debit card
- Bank wire transfer
FXGlobe Review: Education and Research
Research is a must for knowing about what the broker has to offer. FXGlobe has a well-designed website for traders to get the information required. A trader should search with the internet, other websites having FXGlobe reviews and read about the trading. Nowadays, potential firms have well-researched data and content to make trading smooth for traders. There are videos, blogs and books to trade professionally.
Education is an important part of brokers, offering tutorials, videos, eBooks, and articles for ease of trading. Traders to trade successfully have all data before investing in any company. Education of trading helps in FX trading, investments, trading CFDs, knowledge about invested capital, and reputed authority. FXGlobe is a trusted forex trading broker who will guide the client in FX trading.
FXGlobe Review: Customer Support
FXGlobe has customer support service with Sunday to Sunday 8:00 to 20:00 service. The Cyprus secured broker has email and phone contacts for clients to reach them anytime they need help. FXGlobe customer support team is available twenty-four by five weeks a day for traders.
Email Address: [email protected]
Telephone number : +357-25870060
FXGlobe, a registered company with Cyprus securities and exchange commission, has better risk management techniques, proper account management, no complex instruments, leveraged products and, yes, mobile trading. The broker deals in the stock market, CFDs, precious metals and other FX instruments. As the trading involves risk, a trader is provided with options to choose an account and trading platform. There are leveraged products and ratios for the trader, a minimum deposit and withdrawal using various payment processes like a bank wire transfer. With so many facilities and our FXGlobe review, we are sure your doubts must be clear and you would certainly visit FXGlobe for their FX service. One of the best ECN brokers for Forex trading.
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