Globalix Forex Broker provides real users with * positive reviews, 1 neutral reviews and * exposure review!
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Never thought Globalix say goodbye to me so quickly. This is a long story: I used this broker one year ago, and I did have a good trading experience here. I was planning to trade with it again, but it has gone.
Summary: The Globalix review indicates a largely negative perception of this broker, primarily due to its unregulated status and numerous complaints regarding withdrawal issues. While some users describe their experiences as satisfactory, the overarching consensus is that potential investors should exercise extreme caution.
Note: It is crucial to be aware that Globalix operates under various entities across different jurisdictions, which raises concerns about its legitimacy and accountability. This review aims to provide a fair and accurate assessment based on the latest available information.
| Category | Rating (out of 10) |
|---|---|
| Account Conditions | 3 |
| Tools and Resources | 4 |
| Customer Service and Support | 5 |
| Trading Setup (Experience) | 3 |
| Trustworthiness | 2 |
| User Experience | 4 |
| Additional Features | 3 |
How We Score Brokers: Our scoring is based on comprehensive reviews, user feedback, and expert analysis from various reputable sources.
Founded in 2013, Globalix is an online broker operating under the entity Globalix Ltd, which is registered in the Marshall Islands. The broker aims to offer a range of trading services, including CFDs, forex, stocks, indices, and cryptocurrencies, through its proprietary web-based trading platform. However, it lacks regulation from major financial authorities, which raises significant red flags regarding its legitimacy. The broker claims to provide a secure trading environment, but the absence of oversight and regulation leaves many users skeptical.
Regulated Regions: Globalix is not regulated by any major financial authority, such as the FCA or ASIC, which makes it a risky option for traders. The Marshall Islands, where it is registered, is known for its lax regulatory environment, often attracting dubious financial operations.
Deposit/Withdrawal Currencies: Globalix accepts various payment methods, including credit cards and bank transfers, but specific details about accepted currencies and cryptocurrencies are sparse.
Minimum Deposit: The minimum deposit requirement to open an account with Globalix is set at $250, which is relatively standard in the industry. However, some reviews suggest that this amount may pose a risk for inexperienced traders.
Bonuses/Promotions: Globalix offers welcome bonuses, but users should be cautious, as the withdrawal conditions attached to these bonuses are often deemed unreasonable. For instance, a reported requirement is to execute a trading volume of $10,000 for every $1 of bonus received, which raises concerns about the broker's intentions.
Tradable Asset Categories: The broker provides access to a wide range of tradable assets, including 55 currency pairs, 190 stocks, 23 indices, and various commodities and cryptocurrencies. This diverse offering may appeal to traders looking for variety, but the underlying risks remain significant.
Costs (Spreads, Fees, Commissions): Globalix reportedly charges a fixed spread of 3 pips for major currency pairs, which is considered high compared to industry standards. Moreover, there are additional fees for inactivity and withdrawal, which can further diminish traders' profits.
Leverage: The broker offers leverage of up to 1:100, which can amplify both profits and losses. This high leverage can be particularly risky for inexperienced traders who may not fully understand the implications.
Allowed Trading Platforms: While Globalix claims to offer the popular MetaTrader 4 (MT4) platform, many reviews indicate that users are limited to a basic web-based trading interface that lacks essential features commonly found in MT4, such as automated trading capabilities.
Restricted Regions: Globalix does not accept clients from several jurisdictions, including the United States and certain European countries, due to regulatory restrictions.
Available Customer Support Languages: Globalix offers customer support primarily in English, which may limit accessibility for non-English speaking traders.
| Category | Rating (out of 10) |
|---|---|
| Account Conditions | 3 |
| Tools and Resources | 4 |
| Customer Service and Support | 5 |
| Trading Setup (Experience) | 3 |
| Trustworthiness | 2 |
| User Experience | 4 |
| Additional Features | 3 |
Account Conditions (3/10): The account types offered by Globalix are limited and do not provide significant differentiation between tiers. Users have reported that the promised benefits of higher-tier accounts are often negligible.
Tools and Resources (4/10): While the broker provides some educational resources, many users find them lacking in depth and quality, making it challenging for novice traders to gain the necessary knowledge.
Customer Service and Support (5/10): Globalix's customer service has received mixed reviews. Some users report satisfactory experiences, while others highlight delays in response times and difficulty in resolving issues.
Trading Setup (3/10): The trading experience is marred by the lack of a robust trading platform. Users have expressed dissatisfaction with the basic web trader that Globalix provides, which lacks advanced features.
Trustworthiness (2/10): The absence of regulation and numerous negative reviews raise significant concerns about the broker's trustworthiness. Many users have reported issues with withdrawals and transparency.
User Experience (4/10): While some users have had positive experiences, the overall sentiment is overshadowed by the numerous complaints and warnings from regulatory bodies.
Additional Features (3/10): Globalix's promotional offers, such as bonuses, come with stringent withdrawal requirements, which can deter potential traders.
In conclusion, the Globalix review paints a concerning picture of this broker. Potential investors should proceed with caution and consider the risks associated with trading with an unregulated entity. The lack of transparency, combined with numerous user complaints, suggests that it may be prudent to explore other, more reputable trading options.
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