Global-Coin Forex Broker provides real users with * positive reviews, * neutral reviews and 1 exposure review!
Business
License
I made a Account on Global coin Mart on website www.globcomats.com. My account was verified and money (€950) was transferred to my account . After I noticed that the trader I was planning to copy vanished on IG tried to withdraw my money. A day later my account does not exist anymore.
In the ever-evolving world of online trading, Global Coin has emerged as a controversial player. While some sources praise its user-friendly platform and diverse asset offerings, others raise serious concerns about its legitimacy and regulatory status. This review aims to synthesize the available information, providing a balanced overview of Global Coin's features, user experiences, and expert opinions.
Note: It is essential to recognize that Global Coin operates under different entities across various regions, which may affect its regulatory compliance and operational transparency. This review adopts a fair and accurate approach to present the findings.
| Category | Rating (out of 10) |
|---|---|
| Account Conditions | 4 |
| Tools and Resources | 5 |
| Customer Service and Support | 3 |
| Trading Experience | 4 |
| Trustworthiness | 2 |
| User Experience | 5 |
How We Rated the Broker: Ratings are based on a comprehensive analysis of user feedback, expert opinions, and factual data.
Founded in 2022, Global Coin presents itself as a cryptocurrency and CFD trading platform. The broker claims to offer a robust trading experience through its proprietary web-based platform, which lacks the advanced features of industry standards like MetaTrader 4 or MetaTrader 5. Global Coin allows trading in various assets, including cryptocurrencies, stocks, commodities, and forex pairs. However, it is crucial to note that Global Coin is not regulated by any tier-one financial authority, which raises significant concerns about its trustworthiness.
Regulated Geographical Areas: Global Coin is not regulated in any jurisdiction, which is a major red flag for potential investors. Warnings have been issued by regulatory bodies such as the UK's Financial Conduct Authority (FCA) and the Ontario Securities Commission (OSC), indicating that the broker operates without authorization.
Deposit/Withdrawal Currencies/Cryptocurrencies: The platform supports multiple currencies for deposits and withdrawals, including USD, EUR, and GBP. However, users have reported difficulties in withdrawing their funds, often citing lengthy processing times and unexpected fees.
Minimum Deposit: The minimum deposit requirement is set at $250, which is considered high compared to many other brokers that offer micro accounts with lower entry points.
Bonuses/Promotions: Global Coin offers various bonuses, including welcome bonuses and referral bonuses. However, users should be cautious, as many scam brokers use bonuses as a tactic to restrict withdrawals.
Tradeable Asset Categories: Global Coin provides access to a diverse range of assets, including major cryptocurrencies like Bitcoin and Ethereum, as well as commodities and forex pairs. However, the lack of transparency regarding the trading conditions is concerning.
Costs (Spreads, Fees, Commissions): The cost structure is not clearly defined, with reports of high spreads and withdrawal fees. This lack of clarity can lead to unexpected costs for traders.
Leverage: Global Coin offers leverage up to 1:100, which is higher than what is typically allowed by regulated brokers. Such high leverage can increase the risk of significant losses.
Allowed Trading Platforms: The broker uses a proprietary web-based platform, which lacks the advanced features found in more established platforms like MT4 and MT5. This may hinder the trading experience for more experienced traders.
Restricted Regions: The broker does not clearly state any restricted regions, but given its unregulated status, it may not be advisable for traders in jurisdictions with strict regulatory requirements.
Available Customer Service Languages: Customer support is available primarily in English, with reports of slow response times and unhelpful service.
| Category | Rating (out of 10) |
|---|---|
| Account Conditions | 4 |
| Tools and Resources | 5 |
| Customer Service and Support | 3 |
| Trading Experience | 4 |
| Trustworthiness | 2 |
| User Experience | 5 |
Account Conditions (Rating: 4): Users have noted the high minimum deposit requirement and the lack of transparency regarding account types and conditions. Reports suggest that the withdrawal process can be cumbersome, leading to frustration among users.
Tools and Resources (Rating: 5): While Global Coin offers a range of trading tools, the absence of recognized trading platforms like MT4 or MT5 limits the trading experience. The educational resources available are also considered basic.
Customer Service and Support (Rating: 3): Customer service has received significant criticism for being unresponsive and lacking helpfulness. Many users report difficulties in getting timely assistance, especially when issues arise with withdrawals.
Trading Experience (Rating: 4): The trading platform, while user-friendly, lacks advanced features that experienced traders would expect. The high spreads and unclear costs further detract from the overall trading experience.
Trustworthiness (Rating: 2): The absence of regulation and multiple warnings from financial authorities significantly undermine the trustworthiness of Global Coin. Many sources classify it as a potential scam, advising extreme caution.
User Experience (Rating: 5): Despite the concerns, some users have reported a satisfactory experience with the platform's interface and ease of use. However, this is overshadowed by the regulatory issues and withdrawal problems.
In conclusion, the Global Coin review paints a concerning picture of a broker that lacks regulatory oversight, transparency, and reliable customer support. Traders should exercise extreme caution and conduct thorough research before engaging with this broker.
FX Broker Capital Trading Markets Review
