FXGlobe Forex broker review — Everything you need to know

FXGlobe is a CFD and Forex broker that is regulated. It offers Forex and CFD trading and enables traders to access several accounts. The broker enables access to the advanced MetaTrader 4 platform.

In this comprehensive and critical review of FXGlobe, we will dissect all of its crucial features to evaluate its safety, reliability, accounts, spreads, profit withdrawals, leverage, support, education, and more.

FXGlobe Overview of the website

The website of FXGlobe is modern and offers a well-ordered menu on the top bar, enabling traders to navigate around and find all the details about trading conditions or access personal profile pages. However, the website feels heavy and is not responsive enough. It is not snappy as it takes some time to move around, and sometimes lags. This is probably because the website is overcrowded with menu items and various CSS styles, making it heavy and not user-friendly.

The details about trading accounts, spreads, and similar conditions are disclosed transparently, which is crucial in trading, but traders will have to dig a bit to find data about exact spreads, which is inconvenient. There is an advanced support plugin on the website that enables access to live chat, email, and phone support channels, which is very convenient for quick help.

Overall, the broker’s website requires some minor work to make it faster and more responsive for users.

FXGlobe Safety and Regulations

FXGlobe is a regulated broker. However, it is registered and overseen offshore. FXGlobe International, FS International Limited are registered and regulated by the Vanuatu Financial Services Commission (VFSC). The broker is also registered in South Africa as a Financial Services Provider and is licensed by the Financial Services Conduct Authority (FSCA). However, this FSCA regulation is not about trading services and is only for financial services.

The broker keeps client funds in segregated bank accounts with top-tier banks, ensuring client money is separate from its operational capital

According to their FAQ, FXGlobe states that your account generally cannot go below zero, meaning it offers negative balance protection, which is a crucial safety net for beginners, protecting them from losing more than their initial investment.

FXGlobe Accounts Reviewed

FXGlobe offers an exotic naming scheme for its trading account types. There are FXGlobe Pathfinder, Navigator, Infinity, and Summit accounts. To find out whether the broker is competitive with its trading conditions, let’s quickly review each of their conditions.

FXGlobe Pathfinder Account

The Pathfinder account is FXGlobe’s version of the classic standard account, where the broker does not charge commissions, but spreads apply. Here are the main specs of this trading account:

• Minimum deposit – 250 USD/GBP/EUR
• Maximum leverage – 1:500
• Spreads – Unknown
• Commissions – 0 USD
• Minimum lot size – 0.01 lots

The lack of transparency regarding exact spreads on this account is a huge downside.

FXGlobe Navigator Account

The Navigator account offers

• Minimum deposit – 2,500 USD/GBP/EUR
• Maximum leverage – 1:500
• Spreads – Unknown
• Commissions – 0 USD
• Minimum lot size – 0.01 lots

FXGlobe Infinity Account

The infinity account requires a 10 times deposit of the navigator account, and the conditions are slightly better with commissions:

• Minimum deposit – 25,000 USD/EUR/GBP
• Maximum leverage – 1:500
• Spreads – From 0.01 pips
• Commissions – 7 USD per Lot
• Minimum lot size – 0.01 lots

FXGlobe Summit Account

The Summit account has even higher minimum deposit requirements and lower trading commissions:

• Minimum deposit – 75,000 USD/EUR/GBP
• Maximum leverage – 1:500
• Spreads – From 0.0 pips
• Commissions – 4 USD per Lot
• Minimum lot size – 0.01 lots

Overall, the trading environment is mediocre and not very competitive with this broker. This is because higher-tiered accounts with low spreads and low commissions have extremely high minimum deposit requirements.

Deposit and withdrawal options at FXGlobe

When it comes to deposits and withdrawals, the broker accepts many payment methods like wire transfers, bank cards (Visa and MasterCard), eWallets (Skrill, Neteller, etc.), and crypto (Blockchain.com). Deposits are mostly instant and fee-free, while withdrawals sometimes require 1-5 business days. For eWallet payments like Skrill and Neteller, there are no fees charged, and withdrawals are claimed to be processed on the same day.

FXGlobe Assets — What can you trade?

When it comes to trading markets, the broker enables access to diverse trading assets. These assets include FX pairs, commodities, indices, stocks, and futures. The availability of futures instruments is a big advantage for this broker. However, there is a caveat. FXGlobe does not allow access to crypto pairs, which is a serious drawback. The leverage is up to 1:400, which is more than enough to control significant position sizes. However, the lack of transparency regarding the spreads on lower-tire accounts is still an issue.

Trading platforms of FXGlobe

The broker provides access to several advanced trading platform software, including BlackArrow by Nelogica, MetaTrader 4, and MetaTrader 5. The BlackArrow is an advanced trading platform that is also available for mobile devices. Mobile trading is provided via the MT5 mobile app and BlackArrow trading app, which are accessible on both Android and iOS. The broker allows traders to use custom indicators and Expert Advisors, which is advantageous. There are copy trading services also provided using automation on advanced platforms.

Education at FXGlobe

The broker provides an academy that offers masterclass trading courses, a glossary, and a trading blog. The blog is free and offers some interesting reads about trading, but it can not be used as a substitute for a proper education. The masterclass courses are dependent on the trader’s accounts. There are webinars as well, which are useful for beginners. From tools, the broker offers no extra features, which is a downside.

FXGlobe Customer Support

Customer support at FXGlobe is provided via an advanced support utility, which is built directly into the website and offers quick access to live chat, email, and phone support channels. This is very useful and flexible to contact the broker quickly and resolve any issues in time.

The website is multilingual, and so are support options, which makes the broker a multilingual brokerage company.

Is FXGlobe your broker? Final verdict

FXGlobe is a regulated offshore FX and CFDs broker that offers multiple trading account types, high leverage of 1:500, and access to advanced platforms like MT4, MT5, and BlackArrow. While it offers diverse assets and strong support, the lack of transparency regarding spreads on basic accounts and high deposit requirements for better trading conditions are serious downsides.

The broker might be suitable for beginners only for its educational resources, as the minimum deposit is high for the lowest-end accounts, making it unattractive for novices.

FAQs on FXGlobe broker

Where is FXGlobe based?

FXGlobe is regulated by the VFSC in Vanuatu and registered in South Africa under the FSCA (not for trading).

Can you withdraw from FXGlobe?

Yes, via cards, wire, eWallets, and crypto. Withdrawals may take 1-5 business days, depending on the method of payment.