GLOVICE VC foreign exchange brokers specializing in providing foreign exchange trading services, the company's official website https://client.kjglovice-mypage.com/register/trader, about the company's legal and temporary regulatory information, the company's address 211 Proceed Nihonbashi-honcho, 4-10-5 Nihonbashi-honcho Chuo-ku, Tokyo, Japan.
GLOVICE VC Forex Broker
Basic Information
Saint Vincent and the Grenadines
5-10 years Suspicious Regulatory License MT4 Full License Regional Brokers High potential riskCompany profile
Rating Index
MICRO
STANDARD
GLOVICE VC Forex Broker - Complete Information Guide
1. Broker Overview
GLOVICE VC, officially known as KJ Glovice VC LLC, was established in 2020. The broker is headquartered in Tokyo, Japan, with its primary operational address located at 211 Proceed Nihonbashi-Honcho, 4-10-5 Nihonbashi-Honcho Chuo-ku, Tokyo, Japan. GLOVICE VC operates as a private entity, focusing on providing a range of financial services to retail clients globally.
The broker primarily serves the foreign exchange (forex) market, catering to individual traders who seek access to various currency pairs. GLOVICE VC has positioned itself as a newcomer in the forex trading space, aiming to provide competitive trading conditions and a user-friendly experience for its clients. Since its inception, the broker has made strides in establishing its presence in the online trading community, although it is important to note that it does not have any regulatory oversight.
The company's business model revolves around retail forex trading, offering both micro and standard accounts to accommodate different trading styles and experience levels. GLOVICE VC aims to attract traders by providing low minimum deposit requirements and access to the popular MetaTrader 4 trading platform.
2. Regulatory and Compliance Information
GLOVICE VC currently operates in an unregulated environment, which raises concerns about safety and legitimacy. The broker does not hold licenses from any major financial regulatory authorities such as the Financial Conduct Authority (FCA) in the UK or the Australian Securities and Investments Commission (ASIC). Consequently, it lacks the necessary regulatory framework that typically ensures investor protection.
The company is registered in Saint Vincent and the Grenadines, which is known for having less stringent regulatory requirements. As of now, GLOVICE VC has not provided any specific regulatory numbers or valid licenses. The absence of a regulatory body means that clients' funds are not guaranteed protection, and there is no investor compensation fund available for potential losses.
In terms of compliance, GLOVICE VC has not disclosed any detailed information regarding its Know Your Customer (KYC) and Anti-Money Laundering (AML) policies. This lack of transparency further adds to the risks associated with trading on this platform.
3. Trading Products and Services
GLOVICE VC primarily offers forex trading, providing access to a selection of over 60 currency pairs. However, it is worth noting that while the broker has indicated plans to expand its offerings to include commodities, indices, metals, and energies, these products are still marked as "coming soon," leading to questions about the broker's long-term product strategy.
Currently, the trading services are focused on retail clients, with no specific mention of services tailored for institutional clients or asset management. The broker does not provide any unique or proprietary trading products at this time, which may limit its appeal to a broader audience.
The platform's updates regarding new products are infrequent, and clients looking for a diverse trading portfolio may find the current offerings insufficient. Overall, GLOVICE VC's trading capabilities are primarily centered on forex, with limited prospects for expansion into other financial instruments.
4. Trading Platform and Technology
GLOVICE VC supports the MetaTrader 4 (MT4) trading platform, which is renowned for its user-friendly interface and comprehensive trading tools. The platform is available on multiple devices, including desktop and mobile applications for both iOS and Android users. This accessibility allows traders to manage their accounts and execute trades on the go.
The broker does not appear to have developed any proprietary trading platform, relying instead on the established functionalities of MT4. The trading execution model is not explicitly stated; however, it is generally understood that GLOVICE VC operates on a Market Making basis, which may influence the trading conditions and spreads offered.
Regarding the technical infrastructure, specific details about server locations and the overall technology framework have not been disclosed. Additionally, there is no mention of API access or support for automated trading, which could limit options for algorithmic traders.
5. Account Types and Trading Conditions
GLOVICE VC offers two main types of trading accounts:
Standard Account:
Minimum Deposit: $5
Spreads: Starting from 1.0 pips
Commission: Zero commission
Micro Account:
Minimum Deposit: $5
Spreads: Starting from 1.5 pips
Commission: Zero commission
Both account types allow for a maximum leverage of up to 1:500, which can enhance trading potential but also increases the risk of significant losses. The minimum trade size and overnight financing fees are not explicitly detailed, which may create uncertainty for potential clients.
GLOVICE VC does not offer specific account types tailored for Islamic clients or any advanced accounts for professional traders. The availability of a demo account allows new traders to practice their strategies without financial risk, although the lack of a comprehensive account structure may be a drawback for more experienced traders seeking specialized services.
6. Fund Management
GLOVICE VC supports a variety of deposit methods, including bank transfers, credit cards, and electronic wallets. The minimum deposit requirement is set at $5 for all account types, making it accessible for new traders. However, detailed information regarding deposit processing times and any applicable fees has not been provided.
Withdrawal methods are similarly vague, with no specific details on limits or processing times. Clients may face uncertainties regarding withdrawal fees, as this information has not been disclosed by the broker. Such lack of transparency in fund management could deter potential clients who prioritize clear and straightforward financial operations.
7. Customer Support and Educational Resources
GLOVICE VC offers customer support through various channels, including telephone, email, online chat, and social media. The support team is available during working hours, but specific service times and time zone coverage have not been provided.
The broker claims to offer multi-language support; however, the exact languages available have not been specified. In terms of educational resources, GLOVICE VC provides limited information, with no clear offerings of webinars, tutorials, or e-books that could assist traders in enhancing their skills.
Market analysis services, such as daily updates, news, and research reports, are not mentioned, which could be a disadvantage for traders seeking comprehensive market insights. The availability of trading tools, such as calculators and signal services, is also not explicitly detailed, leaving potential clients with questions about the support they would receive while trading.
8. Regional Coverage and Restrictions
GLOVICE VC primarily targets the global retail market, with no specific regional limitations mentioned in the available information. The broker operates from its headquarters in Japan and is registered in Saint Vincent and the Grenadines, which allows it to serve clients from various countries.
However, there is no clear indication of any countries or regions from which it does not accept clients. This lack of information may pose challenges for potential clients in understanding whether they are eligible to open an account with GLOVICE VC. Overall, the broker's regional coverage remains somewhat ambiguous, which could affect its attractiveness to a global audience.
In conclusion, while GLOVICE VC presents itself as a competitive option for forex trading with low entry barriers and a familiar trading platform, the lack of regulation, transparency in fund management, and limited product offerings could raise concerns for potential traders. As always, it is essential for individuals to conduct thorough research and consider their risk tolerance before engaging with any financial broker.
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Latest Reviews
wuwuo
United Kingdom
Embarked on this no-regulation trading spree - buckle up and let the chips fall where they may, right? But oh man, the selection of instruments here are a knockout - it's almost like juggling roulette balls with forex, metals, energies, and others in play. Rocking the MT4 felt righteous, and their live chat certainly earns its MVP stripes- always there, always helpful. Took the Standard account for a spin, 500 bucks, and I'm in like Flynn. Spreads kick off from 1.0 pips, and leverage up to 100:1 - no complaints here. All said and done, it's a wild ride indeed, just be ready for a toss and tumble.
37130
2023-12-01
FX1490436618
Malaysia
Took the plunge into the unregulated abyss of this trading platform - like a rebel without a cause. Variety is the spice of trading here, commodities, indices galore - surely a trading haute couture. Major props to the margin and pip calculator - sharp as a tack. Decided to give the Micro account a whirl - 100 bucks, spreads from 2.0 pips, off to the races. They've even got a demo account, perfect for a wet-behind-the-ears newbie. With zero commission, it’s quite the bargain, but remember - one man’s treasure can be another man’s wreckage, so trade with care.
Positive
2023-12-04