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Suspicious Regulatory License
Suspicious Scope of Business
Clone Firm Cyprus
High potential risk
|Risk Management Index||0.00|
+33 1 79 99 30 47
Platform registered country and region
Pyramid scheme complaint
The claimed Cyprus CYSEC regulatory (license number: 205/13), verified as a clone firm, please pay attention to the risk and the potential scam!
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
FXGlobe, a trading name of FXGlobe Limited, is allegedly an online forex and CFD broker registered in the Republic of Cyprus with Registration Number HE 254133 since 2008. The broker claims to provide its clients with over 70 tradable financial instruments with leverage up to 1:200 and raw spreads from 0.02 pips on the MetaTrader4 trading platform, as well as a choice of three different live account types and 24/5 customer support services. Here is the home page of this brokers official site:
As for regulation, it has been verified that FXGlobe holds a clone Cyprus Securities and Exchange Commission (CYSEC) license. That is why its regulatory status on WikiFX is listed as “Clone” and receives a relatively low score of 1.45/10. Please be aware of the risk.
FXGlobe advertises that it offers access to more than 70 trading instruments in financial markets which include forex (major, minor, exotic), CFDs, commodities, indices and shares.
FXGlobe claims to offer three types of trading accounts, namely Standard, Pro, ECN Razor and Razor Plus, with minimum initial deposit requirements of €250, €1,000, €2,000 and €3,000 respectively. In comparison, licensed brokers allow setting up a starter account with a minimum deposit of $100 or even less. The broker also promises to provide the MT4 demo account, however, it will expire if inactive for 30 days.
The maximum leverage ratio offered by FXGlobe is up to 1:200. 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.
FXGlobe claims to offer raw spreads from 0.02 pips.
Trading Platform Available
Platforms available for trading at FXGlobe are MT4 for Windows, Mac OS X, Web, Android and iOS. In any case, we recommend using MT4 or MT5 for your trading platform. Forex traders praise MetaTrader's stability and trustworthiness as the most popular forex trading platform. Expert Advisors, Algo trading, Complex indicators, and Strategy testers are some of the sophisticated trading tools available on this platform. There are currently 10,000+ trading apps available on the Metatrader marketplace that traders can use to improve their performance. By using the right mobile terminals, including iOS and Android devices, you can trade from anywhere and at any time through MT4 and MT5.
Deposit & Withdrawal
From the logos shown at the foot of the home page on FXGlobe‘s official website, we found that this broker seems to accept numerous means of deposit and withdrawal choices, consisting of MasterCard, Visa, Wire Transfer, Skrill, Neteller, etc. The minimum initial deposit requirement is said to be $250, while there is no mention of what the minimum withdrawal amount is. The broker’s website says that there is no deposit fee charged.
All withdrawals are said to be processed within 24 hours. Please note that funds can take longer to reach you depending on your withdrawal method.
FXGlobes customer support can be reached by telephone: 357-25870060, +33 1 79 99 30 47, email: Support@Fxglobe.com, Support@FxglobePartners.com. You can also follow this broker on social networks such as Twitter and Facebook. Company address: 2 Louki Akrita Street, Limassol, 3030, Cyprus.
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