Hello everyone and welcome to this FX Globe review. In this post we would like to cover one of our favorite Forex brokers which we have been dealing with for a few years. FXGlobe stands out of the crowd when it comes to the foreign exchange market place. As you probably know already, establishing a good relationship with a reliable broker might be the most critical component of your trading success.
You can have the most profitable strategy in the world, and perfect money management system. But if you do it with the wrong broker you will simply lose. No matter how precise and disciplined you are. For that reason we’d like to review FXglobe, which is a broker that in our eyes provide an ultimate platform that answers all traders need.
We rarely publish such positive reviews. As a leading currencies trading site, we have the responsibility for our followers. Every service and broker is being thoroughly tested and covered by real experience and proofs. However, the case with FXglobe is easy. Despite of the fact that this platform offers all type of trading solutions, this is also one of the most secured ones. FXglobe brokerage firm is being regulated all over the world and offers protected accounts.
As for the trading part, it allows you to trade fairly in the highly rewarding trading markets. They even help you to gain profits. Being an ECN STP Broker, FXGlobe app operates in the real market. It means that in oppose to Market Makers, they do not hold positions against their clients. Their profits derived from volume commissions. The more you trade, the more commissions you create. The longer you continue winning, the better it is for all sides. As a results, their interest is in your success. When you win they win, when you lose, they lose. Simple as that.
In order to help you achieve the required success, the company provides high quality trading tools and services. It’s worth mentioning their free signals service and education materials. In addition, you can use copy trade software, and auto trading expert advisers which can be easily integrated within their trading platform. But before we go on, let’s learn some basic information about this company.
FXglobe Review – Background
FXGlobe was founded in 2008 however has been active online since 2010. Like a few other regulated Forex brokers, they chose Cyprus as the location for their main offices. The official company, FXglobe limited, is registered as a licensed brokerage firm with all important regulation authorities. In addition to CySEC, you can find big supervising institutes such as MiFID, FCA and more.
These type of regulations require very certain conditions and ensure the reliability, integrity and financial abilities of the broker. It protects potential clients from different scenarios and enable safe and fair trading activity.
Conditions Of Trading
In this part of the review, we’d like to go over the most important trading conditions you should know about before opening an account.
Firstly, know that just like many other serious Forex brokers, there is a minimum deposit of $250 to start trading with FXGlobe. So make sure it’s something you can allow. If you can’t, you should look for another solution.
However, it is important to note that if your intentions with trading are serious, 250 dollar are not much. It’s the minimal amount and very reasonable condition for being able to participate in some real investments. When you apply one of their unique trading tools in your platform, you must have some margins. If you want for example to maximize your ability to generate great profits with the signals service, you must hold some capital to play with. It will not be serious to start trading with less than that.
There are no extra fees for money transfers. Deposits and withdrawals can be made by a credit card and bank wire transfers. You can also use Electronic Wallets such as Skrill and Neteller.
The maximum leverage allowed to be used with FXGlobe is 1:300.
At this point, we’d like to explain something. You can see all kind of tempting purposes out there. By offering huge leverages of even 1:5000 brokers try to convince you to trade with them. They use it very well for their marketing needs.
However, in reality a leverage of 1:300 is way more than you actually need to risk. It provides you with flexibility as for your risk management strategies, but it also protect you from being too hasty. Using more than that meaning losing your entire capital in 1-5 trades in most cases. Not to mention that only unregulated and non trusted brokers offer such deals.
The spreads with FXGlobe, such as with other ECN brokers are not fixed. They change according to market liquidity but usually stay around the same rate. The spreads are also depend on the account type that you open.
In the regular account you have NO commissions to pay for trades. The spreads themselves are very competitive and match the average ones in the market. For the Euro/Usd for example it will be 1.5 pips and up to a maximum of 2 pips in rare conditions of low liquidity. There is also another type of trading account where the spreads are much lower. But in this case you will have to pay an outside commission for each trade.
Trading with FXGlobe means using the Meta Trader platform. This is the most popular and convenient one to trade Forex. Despite the fact that some brokers try to develop their own technologies and unique platforms, none of them proved to works better than the classic MT4. This is the ultimate platform and it allows you to use all the possible features and tools.
A demo account is available.
Special Signals Service
One of the interesting features of FXGlobe online broker is their high quality signals account. When opening a FX signals account you’ll have the advantage of getting free trading signal notifications from the analysts of FXglobe, straight from the trading room. The trades history is all transparent and you can see the results in their site. The amount of signals is not so large, but as you can see, only by using their signal trades, you are likely to receive more than 1000 pips per year, and you get it for free. This can be translated to some serious gain if used in a leveraged account. For instance, if you trade 1 lot per trade, you’ll make more than $10,000 without any effort.
Auto Trading with FXGlobe
Another advantage of trading with FXGlobe is the ability to use auto trading. By opening an account with MQL5 you can use copy trade software to automatically trade exactly as your favorable signals provider. You can choose any pro trader from the signals tab in your meta trader platform and simply copy his trades. Another auto trading feature is using an Expert Advisor (EA) which is an automated trading algorithm designed to trade on your behalf within the MT4. there are plenty of good EA’s. You just need to find and choose a proper one for you.
We will further discuss the auto trader features in another article. But if you have any questions or need our assistance with choosing the right service for you, please let us know and we’ll be happy to guide you.
Free Trading Education
Whether you are a new trader or an experienced one, you can get an additional value in the education center. FXGlobe offer a Forex trading Academy where you can find high quality information. The videos and written materials cover different important aspects of trading profitably. Learning with them might save you a lot of time in the future, and obviously money. Take advantage of this free education section as much as you can.
Good customer support is surely one of the most important elements to consider when choosing a broker. FXGlobe do not fail to provide excellent service. The availability is in six different languages for twenty four hours a day, five days a week. Options for contact are through an online chat, phone and mail. Call back request is also possible from the website itself. In addition, FXGlobe are active and responsive all over the major social media channels.
FXGlobe Review Conclusion
Not hard to observe that our overall opinion of FXGlobe is positive. FXGlobe Forex broker is secured and fully regulated. In addition to the great trading conditions, they provide all you wish to get as a trader. Now, that doesn’t mean that you can’t face some challenges or issues here and there. But at least you know you have someone to talk with for solving things.
If you open an account with FXGlobe, you’ll enjoy Large variety of traded assets, high quality signals, auto trading options and educational center.
Open an account on FXGlobe.com
In case you have any questions and need our assistance do not hesitate. Comment here below or send us an email.