GlobelFX Review: Globelfx.com a Sad Scam

GlobelFX is a broker that is allegedly offering everything under a single roof. Anything investors need is right at the doorstep. The company guarantees a profitable experience. They link investors with top-tier liquidity providers. After our thorough investigation, we would not recommend the company to traders. 

The broker is accepting investors from every corner of the world. However,  the entity does not obey the set rules. They are illegally in business without having a single license. There are strict rules in various jurisdictions to protect traders against fraudulent activities. Offshore ventures have proven to be unreliable. They create an unfavorable trading environment. 

GlobelFX is a discreet entity we are not aware of the people behind the scheme. If they choose to shut down the website it shall be impossible to get hold of them. Transparency is key in every form of business. Investors need assurance their money is in safe hands. Therefore, the qualification of the team should be availed. Anonymous schemes are dangerous otherwise why would they be hiding behind the shadows. 

Despite the market having numerous scammers, there are genuine and reliable forex trading platforms. These are brokers with clear terms and conditions. Clients have an insight into what to expect. The companies also put the needs of their customers' firsts.

Globelfx.com Review

The broker is allegedly accepting traders of all levels. The novice clients can use the social trading feature to copy the strategies of expert traders. GlobelFX is an offshore platform. There is no guarantee you will be emulating professional strategies. If these individuals make losses you shall face the same fate.  

GlobelFX assures clients of low trading costs. They want investors to gain and have an excellent experience. The company claims it runs thorough research. This allows clients to make the best anticipation of price movement. The suspicious firm is misleading traders using false information. 

They claim to be regulated which is not true. Fund safety is not available on the platform. The venture is not working with reputable banks. Therefore, the money traders deposit can be misused. Legit brokers segregate their accounts from traders' accounts. This allows smooth withdrawal process. 

GlobelFX is allegedly trading forex, energies, oil, and metals. These are volatile products. Investors need the experience to thrive in the market. If you choose to trade the least you can do is acquire basic trading knowledge. Understand the risk involved. You are investing to earn passive income not to lose money to scammers. 

GlobeFX Trading Conditions 

GlobelFX assures investors access to the MT5 interface. However, this is another false promise. The download link is broken. Without the availability of a trading platform, it is impossible to invest. Some scammers present superior trading software to gain the trust of investors. Unfortunately, this does not guarantee your money will be safe. Additionally, there is no guarantee the scheme is trading. 

MetaTrader software allows investors to trade automatically. It has advanced charts, superior indicators, and tools. Additionally, there is multiple account usage, and clients can customize other features. 

GlobelFX has three investment accounts; classic, pro, and VIP. The minimum deposit is $100. All features are the same despite the amount of capital varying. The spreads are as follows; 3.0 pips, 2.5 pips, and 2.0 pips. Investors are subjected to paying more making the spreads unprofitable. On average brokers provide 1.5 pips while other companies have competitive limits. 

All accounts offer 1:500 leverage and the minimum trading lots is 0.01. The firm also has a swap-free Islamic option. All the accounts are commission-free. High leverage opens the possibility of high returns. However, it can also lead to huge losses. Financial assets are volatile. It is the reason behind financial regulator limitation.  In the UK and EU, brokers can only offer leverage of 1:30. On the other hand, the USA and Canada provide a 1:50 limit. 

Withdrawal and Deposit 

GlobelFX website indicates there are multiple payment methods. However, the broker fails to feature these options. There is no withdrawal or deposit information. Investment entities that fail to provide such critical data are not worth your time. It is likely the firm will use methods that limit clients from issuing a chargeback. 

Legitimate ventures allow clients to make a deposit via; PayPal, Skrill, credit/debit cards, wire transfers, and Neteller. GlobelFX does not have legal documentation. Therefore, we are unaware of the minimum amount clients can cash out. The account dormancy policy is also missing. 

Do not be surprised when the entity decides to withhold your payment. They can also shut down their operation without giving notice. Registering with the company leads to a lot of uncertainty. Walk away from the platform while you still can. 

Contact Details and Customer Support 

GlobelFX is a Saint Vincent and Grenidene broker. The platform has a UK phone number. This does not mean the entity is operating from the country. Fraudsters use VOIP numbers to reach their victim. Once they are done stealing from you the number is disconnected. 

Do not even bother reaching out to them. Emails also go unanswered and eventually you will give up. The only time Ponzi schemes engage with customers is when you show a willingness to spend more money. They lack quality support services. Their sales rep can be rude and unethical once you become a nuisance.  

GlobeFX Regulatory Status

GlobelFX fails to feature its regulatory status information. The broker is operating discreetly and leaves no traces behind. Legit broker's website has the parent company name and legal documentation. Offshore companies are dangerous and there is no reason to deal with them. 

Moreover, when the broker lacks a terms and conditions policy it is impossible to understand what you are signing up for. Traders should know what is required of them to cash out. Ventures that lack such documentation end up inflicting hidden charges to customers. Some opt to hold clients' money. 

GlobelFX purports it's operating from Saint Vincent and the Grenadines. The financial Service Authority (FSA) indicates it does not supervise online investment ventures. Any company operating in the region does not offer fund safety. Furthermore, investors can lose more money than what they deposited. It is only genuine firms that offer negative balance protection. 

Fortunately, the broker is blacklisted by the Financial Conduct Authority (FCA). They are targeting United Kingdom citizens without meeting the regulatory agency requirements. A legit platform needs to deposit 730K EUR capital to acquire a license. 

GlobelFX does not report its daily transactional report to any financial watchdog in the market. Investors that want to trade successfully should stock to licensed companies. There are various financial agencies in the market that ensures brokers offer fund safety. Moreover, if the scheme faces bankruptcy client receives compensation. 

Final Verdict 

GlobelFX is one of the most lethal scams in the market. It is unethical to fake regulatory status. The broker is not licensed and the FCA urges investors to stay away from the Ponzi scheme. Moreover, the location of the entity is another reason why you should avoid them. Customers will not enjoy fund safety from the broker. Moreover, their trading conditions are only pushing investors to more risks. 

Here is a list of some of the best forex trading companies. These are brokers with excellent trading history. The platforms are reliable and licensed by reputable financial bodies. You can earn passive income with the assurance of fund safety. The schemes also offer world-class support services.