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Globalix Scam broker review
Globalix is an offshore broker which is located in Marshall Islands. The broker is not licensed by a reputed regulating authority. To know more about the broker and check whether the broker is a safe option for trading, check the detailed review here.
Globalix is a CFD trading broker which allows traders to trade on CFDs on lots of currency pairs including exotic and minor pairs also. It also offers CFDs on Gold, Silver, Platinum, natural gas, cotton, sugar, cocoa, wheat, coffee, etc. Globalix also offers trading on indices and stocks.
The leverage offered by Globalix is 1:100 and the minimum acceptable deposit is $250 which is ok as many other brokers have set the minimum amount to the same level. The account types are Classic, Gold, Platinum and VIP account of which Classic offers the minimum acceptable deposit of $250.
The brokerage offers ample payment methods which are Visa, Mastercard, Diners Club, bank wire transfer and e-wallets including Skrill.
As we know that many brokers who offer bonus to the clients employ unusual terms and conditions for the withdrawal of bonus by their clients. With Globalix, the terms and conditions of bonus withdrawal is not clear and that may confuse the clients. EU has banned the practice of using bonuses for trading since most of the bonuses for trading are unfair to the traders.
Globalix charges $100 per month as a dormant fee if you have not traded for 45 days or more. This is again an unusual fee which is not expected by a reputed broker. Also, if you are using an auto trading software with Globalix and not traded at least 20 trades with the software and want to close the account and withdraw your funds, you will be charges $100 as auto trading software fee.
Is Globalix a Scam or Legit broker?
The credibility of the broker Globalix is decreased by the fact that there is no information of Globalix broker that it is registered with a good regulating authority. Also in Marshall Islands you can easily set up a company even without putting your foot there. Since Globalix is not registered with a known regulating authority, there is no one to oversee their activities and provide protection for the traders’ funds.
Moreover Globalix does not support prevalent and trusted trading platforms like MT4 and also charge several unusual fees from the traders.