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No valid regulatory information, please be aware of the risk!
Note: Global Market is to operate via the website - https://globalmarket.co/, which is currently not yet functional and no information about the company was immediately available. Therefore, we could only gather relevant information from the Internet to present a rough picture of this broker.
Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.
General Information & Regulation
|2,000+ assets:forex currency pairs, commodities, shares, indices, and cryptocurrencies
|Deposit & Withdrawal Method
|credit cards, wire transfers, and crypto
Global Market is allegedly a forex broker registered in Germany that claims to provide its clients with 2,000+ tradable financial instruments with leverage up to 1:100 and floating spreads on a web-based trading platform. Here is the home page of this brokers official site:
As for regulation, it has been verified that Global Market currently has no valid regulation. That is why its regulatory status on WikiFX is listed as “No License” and receives a relatively low score of 1.23/10. Please be aware of the risk.
Global Market advertises that it offers access to more than 2,000 assets, including forex currency pairs, commodities, shares, indices, and cryptocurrencies.
The leverage provided by Global Market is capped at 1:100. It is important to keep in mind that the greater the leverage, the greater the risk of losing your deposited capital. The use of leverage can both work in your favour and against you.
As tested on Global Markets web-based trading platform, the EUR/USD spread is as high as 3 pips, while the industry average is just 1.5 pips.
Trading Platform Available
Instead of the world's most advanced and popularly-used MT4 and MT5 platforms, Global Market gives traders a web-based trading platform. Anyway, you had better choose brokers who offer the leading MT4 and MT5, which are highly praised by traders and brokers alike due to their ease of use and great functionality, offering top-notch charting and flexible customization options. They are especially popular for their automated trading bots, a.k.a. Expert Advisors.
Deposit & Withdrawal
Global Market says to accept credit cards, wire transfers, and crypto deposits. The minimum initial deposit requirement is said to be $250. While the minimum withdrawal is $250 for wire transfers and $100 for all other methods.
There are fees for credit card withdrawals of $/€/£50 for wire transfers; $/€/£25 for credit cards plus a processing fee of $10/€7/£5; $/€/£25 for ePayments. There is also a 10% commission for withdrawals issued before making a trading turnover of at least 200 times. It takes between 5 and 7 days to process a withdrawal.
Bonuses & Fees
Global Market claims to offer some bonuses. However, the bonus may only be withdrawn subject to a minimum trading volume of 25 times the deposit amount plus the bonus issued. In any case, you should be very cautious if you receive a bonus. Bonuses aren't client funds, they're company funds, and fulfilling the heavy requirements that are usually attached to them can prove a very daunting and difficult task. Note that brokers are prohibited from using bonuses and promotions by all leading regulators.
The broker also charges a Dormant fee. If your account is inactive within 6 months, it becomes dormant and will be deducted to a deduction of 10% each month.
Global Market‘s customer support can be reached by telephone: +4930700107380, email: email@example.com. However, this broker doesn’t disclose other more direct contact information like the company address that most transparent brokers offer.
Pros & Cons
|• Multiple tradable assets offered
|• No regulation
|• Website inaccessible
|• Uncompetitive EUR/USD spreads (3 pips)
|• Beginner-unfriendly minimum deposit ($250)
Frequently Asked Questions (FAQs)
|Is Global Market regulated？
|No. It has been verified that Global Market currently has no valid regulation.
|Does Global Market offer the industry-standard MT4 & MT5？
|No. Instead, Global Market offers a web-based trading platform.
|What is the minimum deposit for Global Market？
|The minimum initial deposit with Global Market is $250.
|Does Global Market charge a fee？
|Like every forex broker, Global Market charges a spread fee. It also charges some withdrawal fees, depending on your payment method.
|Is Global Market a good broker for beginners？
|No. Global Market is not a good choice for beginners. Not only because of its unregulated condition, but also because of its inaccessible website and high initial deposit requirement.
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