Global Trading 247 Forex Broker provides real users with * positive reviews, 1 neutral reviews and * exposure review!
Business
License
I can say that this Global Trading 247 is nothing but a scammer. They kept saying how big profits I can make to lure me in. They began to insult me when I insisted in seeing its regulatory license.
Summary: The overall evaluation of Global Trading 247 is predominantly negative, with numerous reports labeling it as an unregulated and potentially fraudulent broker. Key concerns include its lack of regulatory oversight and mixed user experiences regarding withdrawals and customer support.
Note: It's important to recognize that different entities operate under similar names across various jurisdictions. This review aims to provide a fair and accurate assessment based on available information.
| Criteria | Rating (out of 10) |
|---|---|
| Account Conditions | 4 |
| Tools and Resources | 5 |
| Customer Service and Support | 3 |
| Trading Setup (Experience) | 4 |
| Trustworthiness | 2 |
| User Experience | 3 |
| (Optional) Additional Criteria | 4 |
How We Rated the Broker: Ratings are based on a comprehensive analysis of user experiences, expert opinions, and factual data from multiple sources.
Global Trading 247 is a relatively new forex broker, reportedly established within the last two years. It claims to operate from the United Kingdom, offering a range of trading instruments including forex, stocks, commodities, and indices. However, it lacks regulation from any major financial authority, which raises significant concerns about its credibility and the safety of client funds. The broker provides access to the MetaTrader 5 (MT5) trading platform, known for its advanced trading capabilities and user-friendly interface.
Global Trading 247 is not regulated by any recognized financial authority, which is a major red flag for potential investors. According to various sources, including WikiFX, the broker is categorized as having a "high potential risk" due to its unregulated status. This lack of oversight means that traders have little recourse in the event of disputes or issues with withdrawals.
The broker accepts deposits in multiple currencies, including USD, GBP, and EUR. However, specific details regarding cryptocurrency deposits are not extensively covered in the reviews. Users have reported high minimum deposit requirements, ranging from $350 to $5000 depending on the account type.
The minimum deposit for opening an account with Global Trading 247 varies significantly based on the account type. The mini account requires a minimum deposit of $350, while the VIP account demands $5000. This tiered structure could limit access for novice traders or those with limited capital.
Global Trading 247 offers various bonuses for account openings, but the specifics can be vague. Some reviews indicate that bonuses can reach up to 75%, but the terms for withdrawal of these bonuses are often unclear, which can lead to frustration among users.
The broker claims to offer a diverse range of tradable assets, including forex pairs, stocks from major companies, commodities like gold and oil, and various indices. However, the actual availability of these assets can vary, and some users have reported discrepancies between advertised and accessible instruments.
While Global Trading 247 advertises no commission fees, users have noted that withdrawal fees may apply, particularly for the first withdrawal. The spreads offered are reportedly not competitive when compared to other brokers, which could impact overall trading profitability.
Global Trading 247 offers leverage up to 1:100, which can amplify both potential profits and losses. However, the risks associated with high leverage should be carefully considered, especially by inexperienced traders.
The broker primarily utilizes the MetaTrader 5 platform, which is well-regarded in the industry for its advanced features and analytical tools. However, the absence of a demo account is a significant drawback, as it prevents potential users from testing the platform before committing real funds.
Global Trading 247 does not explicitly mention restricted regions, but the lack of regulation may deter traders from certain jurisdictions, particularly those with stringent financial regulations.
Customer support is reportedly limited, with users expressing dissatisfaction regarding response times and the quality of assistance provided. The broker does not appear to offer 24/7 support, which can be a disadvantage for traders in different time zones.
| Criteria | Rating (out of 10) |
|---|---|
| Account Conditions | 4 |
| Tools and Resources | 5 |
| Customer Service and Support | 3 |
| Trading Setup (Experience) | 4 |
| Trustworthiness | 2 |
| User Experience | 3 |
| (Optional) Additional Criteria | 4 |
Global Trading 247's account conditions are a mixed bag. While the tiered account structure allows for customization based on trading preferences, the high minimum deposits could be prohibitive for many traders. The lack of a demo account further complicates the onboarding process.
The broker provides access to educational resources such as webinars and an economic calendar. However, the absence of a demo account limits traders' ability to practice and familiarize themselves with the platform before committing funds.
Customer support is one of the weakest aspects of Global Trading 247. Users have reported long wait times and unhelpful responses, which can be particularly frustrating during critical trading periods.
While the MT5 platform offers a robust trading experience, the overall user experience has been marred by reports of technical issues and a lack of comprehensive support.
The absence of regulatory oversight significantly impacts Global Trading 247's trustworthiness. Multiple sources have flagged it as potentially fraudulent, which should be a major concern for prospective traders.
User experiences vary widely, with many expressing dissatisfaction regarding withdrawals and customer service. This inconsistency can lead to a lack of confidence in the broker's operations.
In conclusion, the Global Trading 247 review presents a concerning picture of a broker that lacks the necessary regulatory framework and customer support to instill confidence in potential traders. Caution is advised for anyone considering opening an account with this broker.
