de | cn | ru

GlobalFXm Review - is it scam or safe?

GlobalFXm review - is globalfxm.com scam or good forex broker?

RATING: 1 / 7 REVIEWS ForexBrokerz GlobalFXm
GlobalFXm is an offshore broker. Your money is not safe.

RECOMMENDED FOREX BROKERS

Scammed by GlobalFXm? Click here!

Trading accounts and Conditions

 

Account type

Minimum deposit

Minimum trade size

Maximum leverage

Spreads
Standard

$1000

0.01

1:300 N/A
Prestige

$5 000

0.01

1:300 N/A
Royalty

$20 000

0.01

1:300 N/A

 

GlobalFXm offers several account types, but provides no further details on the trading conditions, except the minimum initial investment required. According to the information in the FAQ section of its website, the maximum leverage offered is up to 1:300 and the broker does not charge additional trading fees, only the spread. However, spreads amounts are not specified.

 

GlobalFXmAdvanatges:

 

- MT4 available

In our opinion, one of the few benefits of GlobalFXm is that it supports the Metatrader 4 trading platform – the favorite software of thousands of traders worldwide. It is highly praised for its ease of use, solid charting, automated strategies (Expert Advisors), technical analysis indicators, customization options, and more.

 

>>Top MT4 brokers<<

 

Relatively high leverage

This broker says it provides comparatively high leverage levels - up to 1:300. As most of you probably know leverage allows smaller players to place larger trades with less money. However, this involves greater risk of losses, so be careful.



GlobalFXm disdvantages:

 

- Not regulated, not to be trusted

According to the information on its website, GlobalFXm is operated by Nostro Technology OU, a company based in Estonia. However, it is not regulated by the competent local governmental agency, but is instead listed with PIPSEC. The latter is anything but a reliable regulator, and besides, several financial watchdogs have issued warnings against Nostro Technology OU (Italy’s CONSOB, New Zealand’s FMA).

 

- Negative feedback in furums and social media

As we we did our due diligence research on this broker, we found mostly negative user reviews in various forex forums and sites, as well as in the broker’s own Facebook page. Most of them claim that GlobalFXm is a pure scam.

 

- High initial deposit required

In order to open an account with GlobalFXm, one has to invest at least $1000. Such initial deposit required is pretty high, as most brokers demand $100-$250 as a start. Besides, many of them are properly regulated, unlike GlobalFXm. For example, you can open an account with global brokerage HYCM by depositing $100, which is ten times less than what GlobalFXm demands.

 

- No indication of spreads’ amounts, no demo accounts

Most brokers specify the minimum and/or average spreads (at least on majors) on their websites, so that their clients can calculate the trading costs. Most of them offers spread within the range of 1.0 – 1.5 pips on EUR/USD, and some even less.

 

>>Compare the real-time spreads of 10 top-tier brokers<<

 

GlobalFXm’s spreads are not specified on its website and as the broker does not offer demo accounts, we have no idea about its pricing. Such lack of transparency in terms of a broker’s pricing policy is huge red flag, especially combined with its unregulated status.

 

Conclusion

 

GlobalFXm is an Estonian forex broker that offers trading in currency pairs, stocks, commodities, indices, cryptocurrencies, bonds, and ETFs on the renown MetaTrader 4 platform. Its website is available in English, Russian, Italian and Arabic, however key specifics, like the broker’s spreads are not mentioned there.

Forex brokers in Estonia are supposed to be registered with the Estonian Financial Supervision Authority, however this is not the case with GlobalFXm, operated by Nostro Technology OU.

 

Instead, it is regitered with PIPSEC as a Financial Service Provider. PIPSEC stands for Private Investor Protection for Securities and Exchange Independent Registration for Financial Service Companies. This is a non-governmental organization which supposedly oversees otherwise unregulated brokers and is not to be trusted. Nor is GlobalFXm. Apart from the fact that it is not properly regulated and has not presented its pricing policy, there are numerous negative user reviews in various forex forums and sites, as well as in the broker’s Facebook page.

 

Besides, both Italy’s CONSOB and NZ’s FMA have issued warnings against GlobalFXm. The FMA says it has received reports that its representatives fare cold calling New Zealand Residents and recommends against doing business with it. So do we.

 

You’d better select among brokers regulated in the UK, to which FCA applies strict rules and imposes salty fines to those who fail to comply.

 

>>Brokers regulated by the FCA <<

 

 

Pros

Cons

MT4 available

Not regulated and likely a scam

Relatively high leverage levels

No downloadable MT4, no demo accounts

 

Spreads not indicated

 

High initial deposit required

 

Latest news about GlobalFXm
No news about GlobalFXm. Check back later.
Forex
Broker Country Regulation Platform Min Deposit Review
Cyprus, UK, Mauritius CySec, FCA, FSC MT4, MT5, Web $10 Review Website
Cyprus, SVG CySEC MT5, Web,
cTrader
$100 Review Website
Australia, Cyprus ASIC, CySEC MT4, MT5,
IRESSTrader
$100 Review Website
Cyprus, Australia CySec, ASIC MT4, MT5 $5 Review Website
UK, Australia, South Africa FCA, ASIC, FSCA MT4, Trading
Station,
NinjaTrader
$50 Review Website
UK, Cyprus, UAE, South Africa FCA, CySEC, DFSA, FSB MT4, MT5, FxPro
Markets,
cTrader
$100 Review Website
Cyprus CySEC MT4, MT5, Web $1 Review Website
Belize IFSC MT4, MT5 $100 Review Website
Cyprus, UK, South Africa, UAE CySec, FCA, FSCA, DFSA MT4, MT5, Web $5 Review Website
Cyprus, UK CySEC, FCA MT4, MT5 $1 Review Website
UK FCA MT5 $5 Review Website
UK FCA MT4, Web, MT4
for Mac
$100 Review Website
Australia, UK ASIC, FCA MT4, MT5,
cTrader
$200 Review Website
UK, Cyprus, Dubai FCA, CySEC, DFSA MT4, MT5, Web,
PrimeTrader
$100 Review Website

Traders` reviews for GlobalFXm

Spread

Pros

Cons

 

 

Slippage

Pros

Cons

 

 

Requotes

Pros

Cons

 

 

Price feed

Pros

Cons

 

 

Platform

Pros

Cons

 

 

Deposit/Withdraw

Pros

Cons

 

 

Customer service

Pros

Cons

 

 

Summary

Pros

Cons

 

 

Scammed

Have been scammed of approximately 3000Aud

James 09/12/2019

GlobalFXm a scam with 9 other websites

GlobalFXm is one out of ten scam companies , with same owner. Read Fintelegram, which have investigated them and have the name of the leadershiand how they transfer stolen funds.

austin 04/14/2019

Мошенники

Это мошенники!!!!!!Не верьте им!! Останетесь без ничего,у меня для вывода денег надо было транш канал открыть, ячейку забранировать, конвертировать доллары в биткоины, и т.Д. И все это с обязательным вложением денег.

Translated by Google:

This fraudsters !!!!!! Do not believe them !! You will remain without anything, I had to open a tranche of a channel for withdrawal of money, reserve a cell, convert dollars to bitcoins, etc. And all this with the obligatory investment of money.

Лариса 02/14/2019

waardeloos programma

al mijn geld is verdwenen als sneeuw voor de zon!!

Translated by Google:

all my money has disappeared like snow in the sun !!

bessel 10/03/2018

GlobalFXm is 100% a scam

I lost all my money with GlobalFXm.
I contacted the police in Estonia and they said the company does not exist.
My bank contacted GlobalFXm's bank, to try to get my money back, but their bank account was empty, and closed.
I get no response from customer support. And the broker who was dealing with me does not reply to my emails. When I call him, the number is unobtainable.
I emailed Pipsec, many times, but they do not respond.
Please do not do what I did.
It is a common story - you make a small deposit, it goes well and you make a profit. Then you believe their promises of making you big money, so you make a bigger deposit. Then something happens, and your balance is below zero...
Only go with a regulated, authorised trading company.

Diana Andersen 06/13/2018

Global FXM - nothing but scam

I was contacted by Tony and joined with $250 and then pushed to invest another $250. The first time that I logged in I found that my account was on 0.00. I have had no response to my emails nor response from Tony. THIS IS NOTHING BUT A SCAM

Brenda Fuller 05/29/2018

Scam firm

The Firm Is Another SCAM!!! So look out before you giving any money to this firm!!!

b.a.besselsen 04/18/2018

Stolen money

Please help me get my money back

Dudu Shezi 03/12/2018

Complaints about the money I invested in globalfxm

I have invested close to 2000 euros and I cannot withdraw anything from the trading, the amount on the trading is 10.000+euros. Since I requested for a withdraw I have not gotten any message or call from the broker.

Philomina Gloria Ikhinmwin Ogbebor 03/06/2018

Scam, withdrawal impossible

Първия път на 24 1 2018 с 300 евро и на 1 02 с 500 евро изписa ми в TRADE BITCOIN NOW вашия собствен капитале 2,663.04, но незнам и не мога да си ги взема и не мога да се свържа с никой нито по телефона ,нито чрез емейла който имам,а след втория превод никой повече не ми се обажда по телефона за да пратя тези 800 евро изтеглих бързи кредити. Брокера ми гарантираше че на 5.02 мога да си изтегля моя капитал но до сега нямам нищо по моята сметка.

Galina z Antova 02/21/2018

globalfxm complaints

it's impossible to have back money from the account, nobody answer ,the tutor is disappeared..........on the account I have 9900 euro and my deposit is of 5400 euro....what happens now?
daniela

daniela Rossi 01/23/2018

stolen money from the account

У меня непонятным образом со счета украдены(выведены кем-то) все средства,менеджер (М.Потапов) давно исчез и нигде не доступе,прошу со мной связаться и объяснить что происходит.

Алексей Веснин № 9192709 01/15/2018

GlobalFXm withdraw

they tried to push and push for more money although I told Tony Smith I haven't got more. I invest 1300 and standbon 2300 when I decided to withdrawal. Not a word of them from there and still not get my money back. I sent emails but no answers



At Van Jaarsveld 01/09/2018

Jalba

Взеха ми парите и никои нищо не се наема да ми обqсни спрqха да ми вдигат или пишат на viber.
Незнам как мога да си вyрна вложеното, помогнете ми в паника сам и сам с малко бебе много ми е трудно исках да си увелича доходите и изтеглих кредит за да работq с GlobalFXm сега стана по лошо вече сам с 4 кредита никои няма да ми даде повече пари на заем.
Моля за съдействие, помогнете ми.

Translated by Google:

They took my money and nobody bothered to ask me to pick up or write to the viber.

I do not know how I can get my money, help me in panic alone and alone with a little baby I really have a hard time trying to increase my income and get credit to work with GlobalFXm now become worse already alone with 4 credits no one will give me more money on a loan.

Please help, help me.

Cvetelina Brashkova 01/03/2018

R5000.00 invested for bitcoin. Now NO trace of my money!

I never received any account details.
Still no trace of my money.....
SCAM!

Ella Calitz 12/21/2017
de | cn | ru