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The WikiFX Score of this broker is reduced because of too many complaints!

FXGLOBE

Vanuatu|2-5 years|
MT4 Full License|Regional Brokers|Germany Common Financial Service License Revoked|Suspicious Overrun|High potential risk|

https://www.fxglobe.com/en/

Website

Rating Index

MT4/5 Identification

MT4/5 Identification

Full License

2
Server Name
FXGlobe-Demo MT4
Server Location Ireland

Contact

+44 2045427667
support@fxglobe.com
https://www.fxglobe.com/en/
1276, Govant Building, Kumul Highway, Port Vila, Vanuatu.
The WikiFX Score of this broker is reduced because of too many complaints!

Licenses

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

Open Now

Contact number

English

+44 2045427667

Broker Information

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Company Name

FS International Limited

Company Abbreviation

FXGLOBE

Platform registered country and region

Vanuatu

Company website
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Pyramid scheme complaint

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Warning: Low score, please stay away! 8
Previous Detection : 2024-06-24
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
  • The number of the complaints received by WikiFX have reached 149 for this broker in the past 3 months. Please be aware of the risk and the potential scam!
  • United KingdomFCA (license number: 611742) The regulatory status is abnormal, the official regulatory status is Unsubscribed. Please be aware of the risk!
  • GermanyBaFin (license number: 136044) The regulatory status is abnormal, the official regulatory status is Revoked. Please be aware of the risk!
  • VanuatuVFSC (license number: 700227) The regulatory status is abnormal, the official regulatory status is Revoked. Please be aware of the risk!
  • This broker exceeds the business scope regulated by Germany BaFin(license number: 136044)BaFin Non-Forex Licence Non-Forex License. Please be aware of the risk!
  • The CyprusCYSEC regulation (license number: 205/13) claimed by this broker is suspected to be clone. Please be aware of the risk!
  • The Vanuatu VFSC regulation with license number: 700227 is an offshore regulation. Please be aware of the risk!

WikiFX Verification

FXGLOBE · WikiFX Survey

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Expose

    FXGLOBE · Company Summary

    Risk Warning

    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

    FXGLOBE Review Summary in 10 Points
    Founded 2015
    Registered Country/Region Vanuatu
    Regulation CYSEC
    Market Instruments fx (major, minor, exotic), commodities, indices and shares
    Demo Account Available
    Leverage 200:1
    EUR/USD Spread 0.5 pips
    Trading Platforms MT4, MT5, Web Trader
    Minimum deposit $250
    Customer Support multilingual live chat, phone, email

    What is FXGLOBE?

    FXGLOBE, a trading name of FS International Limited, is allegedly a regulated financial brokerage firm registered in Vanuatu that claims to provide its clients with 70+ tradable financial instruments including forex currency pairs, commodities, indices, and cryptocurrencies, with leverage up to 1:200 and raw spreads from 0.00 pips on MT4, MT5 and Web Trader platforms via three different live account types, as well as 24/5 customer support service.

    FXGLOBE's home page

    In the following article, we will analyze the characteristics of this broker from various aspects, providing you with simple and organized information. If you are interested, please read on. At the end of the article, we will also briefly make a conclusion so that you can understand the broker's characteristics at a glance.

    Pros & Cons

    FXGLOBE offers regulated trading services through CYSEC, providing a level of oversight and investor protection. They provide a variety of financial instruments and trading account types, along with multiple trading platforms. However, concerns arise from the broker's reports of difficulties in withdrawals and severe slippage.

    Pros Cons
    • Regulated by CYSEC • Invalid FCA, BaFin and VFSC licenses
    • Variety of financial instruments • Reports of difficulties in withdrawing funds and experiencing severe slippage
    • Demo accounts available • High minimum deposit required
    • Commission-free accounts offered • Limited trading tools
    • Multiple trading platforms available (MT4, MT5, and Web Trader)
    • Rich educational resources

    Please note that the pros and cons mentioned above are based on the provided information and may not encompass all aspects of FXGLOBE's operations.

    FXGLOBE Alternative Brokers

      There are many alternative brokers to FXGLOBE depending on the specific needs and preferences of the trader. Some popular options include:

      • NAGA - a social trading platform that offers a unique blend of social networking and trading, making it a recommended choice for traders looking for a social trading experience.

      • Rakuten Securities - a well-established and reputable broker with a wide range of trading instruments and competitive spreads, making it a recommended option for traders seeking a reliable and comprehensive trading environment.

      • Valutrades - a regulated broker offering a variety of trading platforms, tight spreads, and excellent customer support, making it a recommended choice for traders looking for a trustworthy and user-friendly trading experience.

    Ultimately, the best broker for an individual trader will depend on their specific trading style, preferences, and needs.

    Is FXGLOBE Safe or Scam?

    The regulatory status and customer complaints raise concerns about the safety and reliability of FXGLOBE as a broker. While they are regulated by the Cyprus Securities and Exchange Commission (CYSEC, License No. 205/13), their unsubscribed status with the United Kingdom Financial Conduct Authority (FCA, License No. 611742) and offshore regulatory status with the Vanuatu Financial Services Commission (VFSC, License No. 700227) may indicate a lack of oversight and consumer protection.

    Additionally, exceeding the business scope regulated by the Germany Federal Financial Supervisory Authority (BaFin, License No. 136044) raises further questions about their compliance with regulatory standards. The numerous complaints regarding withdrawal issues and severe slippage further contribute to the doubts surrounding FXGLOBE. It is advisable for potential investors to exercise caution and conduct thorough research before engaging in any trading activities with this broker.

    Market Instruments

    FXGLOBE provides a diverse range of over 70 tradable instruments, catering to the needs of different traders. Their offerings include a wide selection of currency pairs, encompassing major, minor, and exotic pairs, allowing traders to participate in the global forex market. In addition to forex, FXGLOBE also offers trading opportunities in commodities, enabling traders to speculate on the price movements of precious metals, energy products, and agricultural commodities.

    Furthermore, traders can access a variety of global indices, allowing them to trade on the performance of leading stock market indices from around the world. Lastly, FXGLOBE provides access to shares trading, enabling traders to invest in individual company stocks and potentially benefit from their price fluctuations. With this diverse range of market instruments, FXGLOBE offers traders the opportunity to diversify their portfolios and capitalize on various market opportunities.

    Accounts

    FXGLOBE offers a range of account types to cater to different trading needs. They provide demo accounts for traders to practice and familiarize themselves with the platform. In addition, they offer three live account types: Pathfinder, Navigator, and Infinity.

    The Pathfinder account requires a minimum initial deposit of $/€/£250, making it accessible for traders with a smaller budget.

    The Navigator account has a higher minimum initial deposit of $/€/£2,500, offering additional features and benefits for more experienced traders.

    The Infinity account is designed for professional traders and requires a minimum initial deposit of $/€/£25,000.

    Pathfinder Navigator Infinity
    Minimum Deposit $/€/£250 $/€/£2,500 $/€/£25,000
    Execution No Dealing Desk (NDD)
    Minimum Trading Size 1000 (0.01 lots)

    Each account type comes with its own set of features, including competitive spreads, leverage options, and access to various trading instruments. Traders can choose the account type that aligns with their trading goals and financial capabilities.

    Leverage

    FXGLOBE provides leverage options of up to 200:1, allowing traders to amplify their trading positions. Leverage enables traders to control larger positions in the market with a smaller amount of capital. With a leverage ratio of 200:1, traders can potentially increase their potential profits, as even small price movements can result in significant gains.

    However, it is important to note that while leverage can enhance profits, it also amplifies the risks involved in trading. Higher leverage levels increase the exposure to potential losses, as even small adverse market movements can lead to significant drawdowns. Traders should exercise caution and carefully manage their risk when utilizing leverage.

    Spreads & Commissions

    FXGLOBE promotes competitive and tight spreads for its clients, with claims of offering raw spreads starting from 0.00 pips. This implies that traders can benefit from direct market pricing without any markups on the spreads. While the typical EUR/USD spread of 0.5 pips indicates the average cost of trading this currency pair, it is still considered relatively low and attractive for traders.

    Spreads

    Additionally, FXGLOBE distinguishes its account types based on commissions. Pathfinder and Navigator accounts have no commission charges, allowing traders to execute trades without incurring additional costs. On the other hand, Infinity accounts have a commission of $7 per lot, which is a transparent fee structure for higher-volume traders.

    Commissions

    Overall, the combination of low spreads and commission options provides traders with flexibility based on their trading preferences and strategies.

    Below is a comparison table about spreads and commissions charged by different brokers:

    Broker EUR/USD Spread Commissions
    FXGLOBE 0.5 pips Free for Pathfinder and Navigator accounts, $7 per lot for Infinity accounts
    NAGA From 0.0 pips Free for most accounts
    Rakuten Securities From 0.0 pips Yes
    Valutrades From 0.0 pips Yes

    Note: The information presented in this table may be subject to change and it is always recommended to check with the broker's official website for the latest information on spreads and commissions.

    Trading Platforms & Social Trading

    FXGLOBE offers its clients a range of advanced trading platforms to cater to different trading styles and preferences. Traders can choose from the popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms, both known for their robust features, intuitive interface, and extensive charting capabilities. These platforms provide access to a wide range of technical indicators, analytical tools, and customizable trading strategies.

    Additionally, FXGLOBE also offers a Web Trader platform, allowing traders to access their accounts and trade directly from their web browsers without the need for any software download. This offers convenience and flexibility for traders who prefer to access their accounts from different devices.

    Trading Platforms & Social Trading

    Another noteworthy feature of FXGLOBE is the availability of social trading, enabling traders to connect with and follow experienced traders, replicate their trades, and benefit from their expertise. This social trading feature enhances the trading experience by providing opportunities for learning, collaboration, and potential profitability.

    With a variety of trading platforms and social trading options, FXGLOBE ensures that traders have access to advanced tools and resources to support their trading activities effectively. See the trading platform comparison table below:

    Broker Trading Platforms
    FXGLOBE MT4, MT5, Web Trader
    NAGA NAGA Trader, MT4, MT5
    Rakuten Securities Rakuten FX, Rakuten FX Web, Rakuten FX Mobile
    Valutrades MT4, MT5

    Deposits & Withdrawals

    FXGLOBE provides its clients with a variety of convenient and secure deposit and withdrawal options. Traders can choose from popular payment methods, including bank wire transfers (SEPA and Swift), credit/debit cards (MasterCard and Visa), and alternative payment methods such as Neteller, Skrill, SupermCash, Zotapay, and Blockchain.

    The minimum deposit requirement is $50 for most deposit methods, ensuring accessibility for traders with different budget sizes. Additionally, FXGLOBE offers free deposits, allowing traders to fund their accounts without incurring any additional fees. The processing time for most deposits is instant, allowing traders to start trading without delay.

    FXGLOBE minimum deposit vs other brokers

    FXGLOBE Most other
    Minimum Deposit $250 $100

    When it comes to withdrawals, FXGLOBE strives to provide efficient and timely processing. The minimum withdrawal amount is $25 for most withdrawal methods, ensuring flexibility for traders to access their funds. While most withdrawals are free, it's worth noting that withdrawals via bank wire transfers (SEPA and Swift) are subject to a $25 fee. FXGLOBE aims to process withdrawal requests on the same business day, ensuring prompt access to funds.

    See the deposit/withdrawal fee comparison table below:

    Broker Deposit Fee Withdrawal Fee
    FXGLOBE Free Free (except for bank wire transfers: $25 for SEPA and Swift)
    NAGA Free Free
    Rakuten Securities Free Free
    Valutrades Free (except for bank wire transfers: fees may apply) Free (except for bank wire transfers: fees may apply)
    Deposits
    Withdrawals

    Customer Service

    FXGLOBE prioritizes providing comprehensive and accessible customer service to its clients. Traders can reach out to the support team during business hours from Monday to Friday, from 08:00 to 18:00 (6am-3pm GMT). The support is available through various channels, including live chat, phone, and email, allowing traders to choose the method that best suits their preferences. Additionally, an online messaging system is also available for convenient communication.

    Customer Service

    For those who prefer to stay updated and engage with the broker's community, FXGLOBE maintains an active presence on popular social networks like Twitter, Facebook, Instagram, and YouTube. Traders can follow these accounts to receive the latest news, updates, educational content, and market insights.

    Overall, FXGLOBE strives to deliver attentive and multilingual customer support, offering multiple communication channels and additional resources to ensure that traders can receive timely assistance and stay informed about the broker's activities.

    Pros Cons
    • Multilingual support • Limited support hours (Mon-Fri: 08:00 - 18:00 GMT)
    • Multi-channel support • No 24/7 customer support
    • FAQs available
    • Active presence on social media

    Please note that the pros and cons mentioned above are based on the available information and general considerations. The actual experience with customer service may vary, and it's recommended to reach out to FXGLOBE directly for more specific and up-to-date information regarding their customer service offerings.

    User Exposure on WikiFX

    On our website, you can see that many reports of unable to withdraw and severe slippage. Traders are encouraged to carefully review the available information and consider the risks associated with trading on an unregulated platform. You can check our platform for information before trading. If you find such fraudulent brokers or have been a victim of one, please let us know in the Exposure section, we would appreciate it and our team of experts will do everything possible to solve the problem for you.

    User Exposure on WikiFX

    Education

    FXGLOBE provides a comprehensive range of educational resources to assist traders in enhancing their knowledge and skills in the financial markets. Traders have access to video tutorials, e-books, news updates, an academy, and a glossary, ensuring they have the necessary tools to understand various aspects of trading. These resources cover a wide range of topics, including trading strategies, technical analysis, risk management, and market insights. The availability of educational materials allows both novice and experienced traders to continuously learn and stay updated with the latest trends and developments in the financial markets.

    Education

    In addition to the existing resources, FXGLOBE also plans to introduce webinars and seminars in the near future. These interactive learning opportunities will provide traders with the chance to engage directly with industry experts, gain valuable insights, and participate in discussions to further enhance their trading knowledge.

    Education

    By offering a diverse range of educational materials and upcoming webinars and seminars, FXGLOBE demonstrates its commitment to empowering traders with the knowledge and skills needed to make informed trading decisions. Traders can take advantage of these educational resources to expand their understanding of the markets, improve their trading strategies, and stay informed about the latest industry trends, ultimately equipping them with the necessary tools for successful trading experiences.

    Conclusion

    In conclusion, FXGLOBE is a regulated broker under CYSEC, offering a range of financial instruments, trading accounts, and platforms. They provide educational resources and multilingual customer support, showcasing a commitment to assisting traders. However, it is important to note that the broker's reports of withdrawal difficulties and severe slippage.

    Traders should exercise caution and thoroughly assess the risks associated with trading on an unregulated platform. Conducting thorough research and considering alternative regulated brokers may be prudent to ensure a secure and reliable trading experience.

    Frequently Asked Questions (FAQs)

    Q 1: Is FXGLOBE regulated?
    A 1: Yes. It is regulated by Cyprus Securities and Exchange Commission (CYSEC, License No. 205/13).
    Q 2: At FXGLOBE, are there any regional restrictions for traders?
    A 2: Yes. This website is not oriented in any jurisdiction and any user which is not intended for that would be contrary to local law or regulation (e.g. USA, Japan, Iran, Europe – list is not exhaustive).
    Q 3: Does FXGLOBE offer demo accounts?
    A 3: Yes.
    Q 4: Does FXGLOBE offer the industry leading MT4 & MT5?
    A 4: Yes. It supports MT4, MT5, and Web Trader.
    Q 5: What is the minimum deposit for FXGLOBE?
    A 5: The minimum initial deposit to open an account is $250.
    Q 6: Is FXGLOBE a good broker for beginners?
    A 6: No. It is not a good choice for beginners. Though it is a regulated broker, there are too many negative reviews reporting unable to withdraw and their minimum deposit is too high for beginners to get started.

    User Reviews

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    Bettersword
    6-12months
    It's a confirmed scam. Do not touch it!
    2023-10-29 05:24
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    0
    0
    FX3241742678
    more than one year
    My experience with FXGlobe has been atrocious. As soon as I put my money into this brokerage, I found it hard to find ways of withdrawing. I started seeing bad reviews of people with a plethora of reasons as to why joining this brokerage is a pitfall. Several of them complaining about how FXGlobe wont allow them to take out their profits. After a lot of research and lost confidence, I decided to withdraw my money. Low and behold I experienced those same difficulties I read online. Over 2 months later and I'm still trying to get my money back
    2023-10-29 00:46
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    0
    0
    Thomas Kunt
    6-12months
    This broker is a scam, be aware! They entice you to deposit money into their company, and that money will never get out. The platform is rigged so you lose your money. There is all kind of dishonest manipulation. I got scammed!!
    2023-10-27 22:57
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    0
    0
    endy lin
    6-12months
    The platform also offers a wide range of educational resources, including webinars and tutorials, to help traders improve their forex trading knowledge and skills.
    2023-08-03 19:02
    Reply
    0
    0
    FX1645631184
    more than one year
    Whether you're a novice trader or a pro, the powerful new social trading platform of this platform is a fantastic approach to optimize your profits. I could even use a stop loss to limit losses when my transaction moved in an unfavorable direction. Community, instruction, support, and trading conditions are all part of the package at FXGlobe. No other platform can consolidate these many advantages into a single model!
    2023-04-13 20:58
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    0
    0
    Beverly2015
    more than one year
    Fxglobe is one of the best broker i have been with and i live in the caribbean where certain brokers gives a hard time but fxglobe made it very costumer friendly to sign up and they have good spreads so i love them….TWO thumbs up for me 💯💯💯…
    2023-03-13 18:46
    Reply
    0
    0
    asd
    more than one year
    Very happy with FXGLOBE's support team. Prompt and professional in how they interacted with me. Market execution has also been excellent, especially on the Indices. Would recommend.
    2023-02-28 18:23
    Reply
    0
    0
    Beverly2015
    more than one year
    Its a great platform with allot of option and also perfect customer support. Recommended.
    2023-02-13 17:32
    Reply
    0
    0
    Sadia
    more than one year
    If you want to double your investment without worrying about losing your profit, then you must try this platform. This website offers a variety of products and tools to help you trade and earn profit. The withdrawal process is fast and easy. However, the withdrawal options are somehow limited. I suggest working on the above-mentioned issue.
    2023-02-07 10:16
    2
    0
    0
    办理信用卡
    more than one year
    It's weird that so many people say they've been scammed from a company that seems reliable. To be on the safe side, I wouldn't invest here.
    2022-12-16 16:55
    Reply
    0
    0
    张旭艳
    more than one year
    So far, I think the service provided by this FXGLOBE company is satisfactory for me. I can trade the financial products I like and the transaction cost is also within a reasonable range. But I saw wrong information on the wikifx website, I got a bit scared and now I'm thinking of withdrawing all my money. Will they prohibit me from withdrawing money? I decided to give it a try...
    2022-12-02 10:00
    Reply
    0
    0
    Hasan4647
    more than one year
    My name is Md Mahmudul Hasan and my email address (hasep1991@gmail.com), Partner ID: 21825. Under my IB I have 3 clients Clint portal and Trading account those are being blocked by account manager (Ravit) from the last one week. My clients are trying to communicate with the account manager many times and she doesn’t response properly and hold their withdraw about $5000+ and disable their MT5 accounts as well. we trying to communicate through live chat and email to backoffice many times and they
    2022-10-29 02:57
    Reply
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    You are visiting the WikiFX website. WikiFX Internet and its mobile products are an enterprise information searching tool for global users. When using WikiFX products, users should consciously abide by the relevant laws and regulations of the country and region where they are located.
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