Globex360 withdrawals

When you opened the account, you had a 400 USD equity on your account. When the position starts to move against you and your account equity falls to 200 USD, you will have a margin call.

Real forex bonuses

Frequently Asked Questions, globex360 withdrawals.

But your position will not be closed yet. When your account equity falls to 30% of the required margin, then the system starts to close your positions immediately. FX trading is available 24 hours a day, 5 days a week. You can trade from monday 00:00 to friday 24:00 (server time, GMT + 2). For cfds, we have specific trading hours listed here.

Frequently asked questions

Find our answers to the most popular questions which concerns globex360°.

DEPOSIT AND WITHDRAWALS

Deposit and withdrawals questions

How do I deposit funds to my account?

You can make a deposit inside your client area using any funding option that suits you best.

What is the minimum deposit?

The minimum deposit for all account types is $25. However, to get a VIP account, you have to reach a balance of minimum $50,000.

How do I withdraw funds from my account?

Do you have any charges on deposits and withdrawals?

How fast do you process my withdrawals?

We process all withdrawal requests within one working day.

How long does it take for funds to reach my bank account?

We process all withdrawal requests within 24 hours on business days. The time necessary for the funds to reach your bank account depends on your bank’s policy. Bank withdrawals can take 3-7 working days to be seen on the client’s account. Credit/debit card withdrawals can take up to 8 working days to be seen on the client’s account.

Can I withdraw via a different payment method from the one I used for depositing?

Globex 360 policy is to process withdrawals via the same method that you used to deposit. For example, if you deposited using a credit card, the card will be credited with the amount equal to the deposit amount minus fees and upon your request we can send any profits via other payment methods under your name.

Can I withdraw my money if I have open position(s)?

Yes, you can. However, at the moment of payment, your free margin must exceed the amount specified in the withdrawal instruction including all payment charges. Free margin is calculated as equity minus the necessary margin (which is required to maintain an open position).

If you do not have sufficient free margin on your trading account, we will not carry out the withdrawal request until you submit a corrected withdrawal form and/or close the open positions on your account.

TRADING CONDITIONS

Trading conditions

What are the minimum and maximum position sizes?

The minimum trade size is 0.01 lot and the maximum trade size is 50 lots. The maximum amount of orders you can open on an MT4 account is 50.

What is your order execution speed?

Our average execution speed is around 200 milliseconds.

What are your margin call/stop out levels?

Our margin call / stop out levels are – 100/30%. Your account may be subject to a margin call if your account equity falls to a level that is equal to the margin of your existing positions. For example, you have an open position of 1 lot on EURUSD. The margin to hold that position is 200 USD.

When you opened the account, you had a 400 USD equity on your account. When the position starts to move against you and your account equity falls to 200 USD, you will have a margin call. But your position will not be closed yet. When your account equity falls to 30% of the required margin, then the system starts to close your positions immediately.

Taking the above example, if you open a position with 200 USD of margin and your account equity falls to 60 USD, then the system starts to close your position. If you have several positions opened, then the system closes them starting from the one with the biggest loss.

If, while closing the positions, your account equity reaches a level of more than 30% of the required margin, all other positions will remain open.

What are the minimum and maximum account leverage you offer?

The minimum leverage is 1:100 and it is available on basic accounts. The maximum leverage is 1:400.

Are hedging and scalping allowed?

Hedging is allowed (arbitrage trading). The required margin for hedging positions on classic, ECN pro, and VIP accounts is 0. Scalping is also allowed. There are no time limitations for keeping the positions open.

What is a slippage?

Globex360 is an STP broker, which means that we just clear our clients’ trades and retranslate quotes we get from our liquidity providers. Orders in the real market are always executed at current market prices, which is why a slippage may occur in the case of a sharp movement. Please note, that during market-moving news or high volatility, the risk of slippage is higher than during normal conditions. With us, you will get both positive and negative slippages.

What is globex 360 execution model?

Order execution model: DMA (direct market access), NDD (no dealing desk), STP (straight-through processing). ECN stands for electronic communication network. NDD stands for no dealing desk. DMA stands for direct market access. STP stands for straight-through processing.

Do you offer negative balance protection/cover negative balance?

Traders who use the maximum leverage available face the risk of a negative balance.
For example: let’s assume that you have 200 USD on your account and you open 1 lot on USDJPY on friday evening, with 1:500 leverage and 200 USD margin.

On sunday night, the market opens 30 pips away from friday’s closing price in a direction against you, so your position will immediately have a loss of 30 pips x 10 USD = 300 USD loss, while you have only 200 USD on your account.

The position will be automatically closed and your account would have a negative balance of -100 USD. This situation is 100% impossible when a trader uses 1:1 leverage. The higher leverage a trader uses, the more risks they take. Please also note that a negative balance may occur due to a slippage during high volatility.

Our risk department is constantly monitoring our clients’ risk-taking and if we see that a client trades irresponsibly, then we will notify the client via e-mail and ask them to reduce risk exposure. Also, we might reduce the leverage on the client’s account.

Negative balance protection is not guaranteed. The general practice is that we cover the negative balance, but all cases are reviewed on a case-by-case basis.

Do you offer FIX API connection?

We offer FIX API connection to our large private clients and institutional clients. The minimum account balance required is 25,000$ and the minimum monthly trading volume required is 500 lots. There are no other requirements or fees. We are not offering a demo version. If a client trades 500 lots per month, then we do not charge any fees for using it. However, if a client does not reach 500 lots, then a 1,000$ fee applies.

What are the limits of setting SL, TP, and TS?

You can set stop loss and take profit orders with no limits on all account types. SL and TP orders will still be active, even if your computer is switched off. The minimum trailing stop level is 1.5 pips or 15 points. It is possible to set only 1 trailing stop per order. You need to have the MT4 platform open to keep the trailing stop active.

What are your trading hours?

FX trading is available 24 hours a day, 5 days a week. You can trade from monday 00:00 to friday 24:00 (server time, GMT + 2). For cfds, we have specific trading hours listed here.

Do you have a dealing desk?

We don’t have a dealing desk because we are an STP broker and all our procedures are automated. We have no conflict of interest with our clients as 100% of the orders are cleared with liquidity providers.

Does slippage occur in your platform?

At globex360, slippage can occur during big news announcements, depending on the market conditions and volatility. There can be both positive and negative slippage.

How many platforms are available for trading?

We offer one of the most popular and easy-to-use platforms,MT4 which is available for windows, OS X, ios and android.

What is the margin call procedure for MT4?

Negative price movement can potentially lead to a margin call and the subsequent triggering of an automated margin close-out of positions. In the event that market conditions are unfavourable to you, we will set a stop-out level to reduce your maximum loss. This means that we will set a threshold of margin value, below which positions are automatically closed. This stop-out is set at 30% of the margin. For example, based on a margin of 100, the position would be automatically closed if the net equity** reaches 30 or lower.

In a nutshell, once your account net equity drops below 100% of the initial margin required to establish the open position(s), MT4 changes colour to red to indicate that you are close to or on margin call, and once your account net equity drops below 30% of margin requirements, your open positions will get closed automatically.

(**net equity: defined as the sum of the client’s net profit and loss on an open position(s) and client’s deposited funds.)

Do you offer swap-free accounts?

Yes, we offer muslim faith traiders all our accounts with a swap-free option

INFORMATION REGARDING IB

IB program

Do you offer remuneration for introducing brokers?

We do offer an IB programme. Here is how it works:
1. Open an account in the client area. If you are an existing client, please insert your account number.
2. Agree to the terms and conditions in the client area – IB room.
3. Promote our services to potential clients who may wish to open an account and start trading with us.
4. Start receiving IB commissions.

If you want to share your IB link with your clients, then please note that the URL link contains cookies. Cookies will save your IB information. When your client completes the registration form in the client area and opens an MT4 account, then your IB code will be provided by default as main IB.

How to attach clients to my IB account?

There are two ways a client can be attached to your IB account:

1. You provide your clients with a unique IB referral link. Whenever a new client goes to our website using that link, registers his client area and opens a live account, you immediately see him being attached to your IB account.
2. We can add an existing client under your IB account upon a written request from the client.

How is the IB commission added to my account?

Whenever your client makes a trade, it will be automatically shown in your IB room with the calculated commission. The weekly IB commissions are added to your IB balance every weekend after what you can immediately withdraw them.

How can I withdraw my IB commission?

You can withdraw your IB commission anytime you want by filling in a withdrawal form inside the client area you can transfer the funds to your globex360 live account or withdraw them to your bank account, skrill, neteller or any other available payment solution.

Broker withdrawal

The withdrawal of funds from your trading account at a broker is not something that usually comes to mind when you start investing. It is only after profits / losses are made, that an investors begins the withdrawal process.

Most brokers are pretty good at processing an investors withdrawal request, but occasionally there are problems.

In recent years, brokers have changed their “on-boarding” process, to ensure, that before you deposit money, they have all the relevant information needed to process your withdrawal.

KYC (know your customer) laws made it, that all regulated brokers must verify your identity before accepting your deposit. This has caused many new investors to think twice before opening a trading account, because the process it more difficult.

Brokers that do not verify your information before you deposit, will require you to verify your info, when you want to make a withdrawal.

Withdrawal time frames

According to a circular released by cysec in 2016, the broker must process your withdrawal request the same day you make the request.

In case of a positive cash balance in the retail client’s trading account, cifs must process the client’s request to withdraw funds on the same day that the request to withdraw funds was made, or the next working day if the client’s request is received outside of normal trading hours.
Cysec circular C168

Withdrawals are always processed as a “refund”. If the investor made a deposit via a credit card, then the withdrawal will go back to the same credit card.

If the money was deposited via swift / wire transfer, the money should be returned to the same bank account. Depending on the country you live in, it can take between 1 – 4 business days for the transfer to happen.

Withdrawal problems

There are many reasons why your are having problems withdrawing your money from a broker.

If your broker is licensed and regulated, here are some common problems that may prevent your withdrawal request from being processed.

Missing information on your account profile

Wrong bank information details (international routing number)

Outdated personal identification documents

If your broker is offshore and not regulated, then there is a high chance you are dealing with a scam, and your hopes of withdrawing your money is very low.

Offshore brokers do not follow the law, and use many tricks to scam people out of there money. They make false promises of high returns, and use many excuses when you try to withdraw your money.

Globex360 review & withdrawals

Globex360 review

Our latest review of globex360 finds, that they are a south african MT4 broker and they are licensed by the FSCA. The FSCA is the governments financial institution regulator in south africa.

This broker is opened in february 2019, and they offer investors a range of assets for CFD trading. Traders can use the MT4 trading platform, or their social copy trading software. You will find a choice of standard trading accounts and raw spread account types.

To login to your trading account at this broker, navigate to: https://secure-globex360.Co.Za/login. Once you have logged in, you can open a new demo account, or a live trading account.

Your login information for this brokers website, may be different from your MT4 user name and password. If you are having difficulty logging into your trading account, check your old emails for the login details, or click the “forgot password” button.

Globex360 withdrawals

When the time comes to withdraw your money from this broker, you need to submit a withdrawal request manually.

As you can see in the screenshot below, withdrawals are suppose to be processed in 24 hours. This means if you still have not received your withdrawal, you have a problem.

Withdrawals at this broker are processed manually, back to your original funding source. Meaning, if you made a deposit by credit card, your money will go back to your credit card. If you deposited via a bank wire, your funds will go back to that bank account. If you used skrill or paypal to deposit, your money will go back to your online account.

Brokers contact information

Globex360 (PTY) LTD is located at: 158 5th street, 3rd floor sandton office towers, sandhurst, sandton, 2196, gauteng, south africa. Phone number: +27115683097.

Broker complaints

When you have a complaint about your broker, and you cannot resolve it directly at the broker, you may want to elevate the complaint to the regulator.

Another option is to hire an outside company to attempt to recover your deposits. Learn more about wealth recovery experts.

Globex360 review

Summary

We do not recommend globex360 due to the numerous complaints and high cost of trading.В we encourage traders to check out plus500 & avatrade as possible alternatives.

Globex360 minimum deposits start at 100 USD, but trading costs are expensive. Spreads are wide, starting at 2 pips on the basic account. A large commission per trade is also charged on all accounts, which is unusual for a broker with such wide spreads. Full spreads are not published.

In addition, while globex360 states that withdrawals are free, we have received multiple claims that deposits do not reflect to trading accounts and withdrawals do not reflect to bank accounts. Clients have also complained that customer service is extremely poor, or non-existent when it comes to funding issues.

Reviews

Account information

Trading conditions

Company details

Deposit & withdrawal methods

Supported platforms for globex360

Is globex360 safe?

Globex360 was founded in 2017 in johannesburg and has been regulated by the south african FSCA since 2019 under FSP #50130. The FSCA has brought in a new licence for south african brokers called the ODP licence, but it is unclear if globex360 has applied for this yet.

Globex360 is an STP broker and operates without a dealing desk вђ“ though trade execution on basic accounts is instant, insinuating an automated dealing desk of some kind. Standard and professional accounts are both market execution.В

Globex360 does not offer negative balance protection, stating that вђњnegative balance protection is not guaranteed. The general practice is that we cover the negative balance, but all cases are reviewed on a case-by-case basis.Вђќ

We have received many complaints from south african traders with a globex360 login regarding deposit and withdrawal issues. We cannot prove that any of these allegations are true, but traders should be very careful when choosing a forex broker.

Should I trade with globex360?

We do not recommend globex360.

Even if the allegations of funding problems are untrue, globex360вђ™s trading costs are unreasonably high and its forex education is poor. Even though globex360вђ™s minimum deposit is quite low at 100 USD, it does not publish its complete spreads and the only platform available is MT4.В

We recommend choosing another broker from one of our lists:В

We only recommend well-regulated, honest brokers with good trading conditions.В

Globex360 REVIEW 2020

Globex360 summary

Globex360 is an online trading provider that was founded in 2017, with a primary focus on the continent of africa.

Throughout the span of two years, it has become one of the leading online brokerage firms that accept clients from all over the world. Globex360 has a global presence in various geographical areas that allows them to offer their clients quality services and technical support.

Globex360 has financial partners that are based in south africa, kenya, botswana, nigeria, chile, and australia; they also registered with the companies and intellectual property commission in south africa.

This globex360 review is an in-depth analysis of everything there is to know about this forex trading services provider and what it has to offer.

Who is the founder and owner of globex360?

Global exchange 360 or globex360 for short, takes great pride in being the first black woman-owned forex broker in the world.

The broker was founded by nombuso mkhulise, who is considered to be one of the most accomplished women in the financial sector and the only black woman to own a brokerage firm. The down to earth founder and chief executive officer was born in diepkloof (soweto), johannesburg, with her grandmother after losing her mother at the very young age of 10. She has completed her civil engineering studies at the deutsche schule johannesburg (DSJ) with a bursary, thanks to her great academic achievements. She considers herself to be a seasoned CEO and that her company is ready to serve clients from all around the globe, hence the name “globex – global exchange.”

Mkhulise aims to challenge the status quo and invites more women to venture into what was considered a boys club for so long, in order to gain financial freedom.

Globex 360 main features
established in: 2017	headquarters: johannesburg
regulations: FSP under license no 50130	country of regulation: south africa
minimum deposit: $25	platforms: MT4, socialcopy trade
demo account available: yes	leverage: up to 1:500
withdrawal fee amount: 0$	inactivity fee: yes

Variety of trading instruments

Different types of trading accounts, according to traders’ experience

Regulated by the financial sector conduct authority in south africa, also known as (FSCA)

In accordance to the financial intelligence and anti-money laundering act 2002 (FIAMLA 2002), the prevention of corruption act 2002 (POCA 2002) and the prevention of terrorism act 2002 (POTA 2002)

Only provides MT4 trading platform

Does not accept clients from the US, canada and belgium

Withdrawal process is very very slow

Does not provide negative balance protection

Safety and regulation

Globex360 is regulated by the financial sector conduct authority in south africa, also known as (FSCA). They are also obligated to follow the guidelines of the financial intelligence and anti-money laundering act 2002 (FIAMLA 2002), as well as the prevention of corruption act 2002 (POCA 2002) and the prevention of terrorism act 2002 (POTA 2002).

Globex360 (PTY)LTD is authorized by the FSP under license no 50130; globex360 is the brand name of GLOBEX wealth GROUP LTD, registered under the financial sector conduct authority (FSCA) in south africa.

Globex360 is registered and regulated by the financial body in south africa, which is one of the most prominent areas for financial and monetary regulations of trading application services.

Globex360 keeps client funds in segregated accounts to keep from merging the funds of clients to those of the corporation. The segregated accounts show the high level of transparency and concern of the company towards the client’s funds and personal information.

Globex360 is in compliance, with the financial intelligence and anti-money laundering act 2002 (FIAMLA 2002), the prevention of corruption act 2002 (POCA 2002) and the prevention of terrorism act 2002 (POTA 2002). These acts are in place to avoid any illegal and unlawful activity that could occur within the company, ensuring that the clients are safe from being exposed from the aforementioned criminal acts.

Regulated by the financial sector conduct authority in south africa, also known as (FSCA)

In accordance to the financial intelligence and anti-money laundering act 2002 (FIAMLA 2002), the prevention of corruption act 2002 (POCA 2002) and the prevention of terrorism act 2002 (POTA 2002)

Client funds stored in segregated accounts

Does not provide negative balance protection

Does not provide investor protection

Globex360 fees

You do not have to worry about deposit fees and withdrawal fees, because there are none.

The minimum deposit for the basic account is 100USD and the standard account is 500USD, while the minimum deposit for the professionalvip account is 5000USD; this is also considered relatively low.

Deposit and withdrawal fees
deposit fee	0USD
withdrawal fee	0USD
inactivity fee	5USD
account fee	0USD

globex360 fees vs. Competitor fees
globex360	octafx	avatrade	XM group
account fee	no	no	no	no
inactivity fee	yes	no	yes	yes
deposit fee	0$	0$	0$	0$
withdrawal fee	0$	0$	0$	0$

Globex360 trading fees

With globex360, there is a minimum and a maximum trade size; the minimum trade size is 0.01 lots and the maximum trade size is 50 lots. There is a maximum amount of orders for traders that can be opened on their MT4 trading account, which is fifty orders. Their execution speed for order is, on average, approximately two-hundred milliseconds; this is considered to be very fast and efficient to benefit traders.

Globex360 have a 100/30 percent margin call-stop level, but the trader’s account may be exposed to a margin call if the trading account’s equity lies in a level that is equal to the margin of the trader’s existing position.

Another feature and trading condition that globex360 provides is hedging and scalping. The required margin for hedging positions on the three accounts is zero, and there are no time limitations for keeping the positions open for traders.

With globex360, there is a possibility for traders to face a negative balance if they use the maximum leverage level that is available. A negative balance could also occur if there is a slippage, due to a period of high volatility.

The broker has a risk department is constantly and consistently track their clients’ progress when it comes to risk-taking decisions and strategies. This allows globex360 to monitor and see if a trader is making irresponsible trading decisions, then the broker will notify the trader through an email with the contents of asking them to reduce their risk exposure.

The broker may also reduce the maximum leverage level on the client’s trading account, to ensure that they are trading responsibly and not exposing themselves to major financial risk.

With globex360, negative balance protection is not guaranteed by the broker. The general practice of negative balance protection is based on a case-to-case review.

Account opening

The three trading accounts of globex360 are: basic account, standard account, and professional or VIP account. These are all available for you on globex360, but it depends on your trading knowledge.

Minimum deposit of 100USD for basic and standard

Account management is free

Forex, commodities, indices, and cfds available

Globex360 basic account

The first globex360 account available for you is the basic account with an instant execution type and the free support of an account manager. The maximum leverage level is 1:100 and a minimum spread starts from 2.0. There is also a commission charged for trading, which is 12USD per lot.

The available trading instruments on the basic account are forex, commodities, and indices, with the MT4 trading platform. The maximum order size is ten lots and there is a guaranteed stop loss order, which is reasonable for traders with the basic account. The minimum initial deposit is one-hundred dollars.

One of the main drawbacks of the basic account is that traders with this type of account will not have access to the knowledge base of globex360, and they won’t be able to have the option of automated trading.

Instant execution

Low minimum deposit (100USD)

Guaranteed stop-loss orders available

No access to educational resources

No access to automated trading

High trading commission

Globex360 standard account

The second account type that globex360 provides is the standard account. This account is similar to the basic account, but there are some improvements. The execution type is market execution, you get the support of an account manager and can also access automated trading.

The maximum leverage level for the standard account is 1:200, and they provide minimum spreads from 1.6. The commission charged for each lot is 10USD and the maximum order size is twenty lots. The standard account offers forex, commodities, and indices as instruments for trading, with the MT4 trading platform available for the trader’s convenience.

The minimum initial deposit is five hundred dollars($500) and you can immediately gain access to the educational materials of globex360.

Free account management

Market execution

Guaranteed stop-loss order

Access to automated trading

No access to personal account manager

Only available on MT4 trading platform

High trading commission

High minimum deposit ($500)

Globex360 professional or VIP account

The final and most beneficial trading account is the professional or VIP account.

This globex360 trading account performs orders at market execution quotes, and has free account management. The maximum leverage level is 1:400, since the maximum order size is fifty(50) lots. The account also offers minimum spread starting from 1.2, with a commission of eight dollars($8) per lot.

Similar to the standard account, traders can access forex, commodities, indices as well as automaded trading services. Unlike the other two trading accounts, there is the option for a personal account manager and the minimum initial deposit would be five thousand dollars($5000).

Access to automated trading

Guaranteed stop-loss order

Personal account manager available

High minimum deposit (5000USD)

Only available on MT4 trading platform

High trading commission

How to open a globex360 account

STEP ONE: fill out the online application with your personal information and trading preferences.

STEP TWO: open your email to verify your login credentials.

STEP THREE: upload documents of your bank statement, proof of address (POA), and a copy of your passport or ID as a form of proof of identity.

Deposit and withdrawal

There are several methods of payment, for depositing and withdrawing funds. These methods include: payfast, bitcoin, debit and credit cards.

Globex360 accepts several different currencies such as: USD, EUR, and MMK. The deposits and withdrawals are free of charge, but a transfer fee could be charged by the bank and not by the broker.

Globex360 will also not cover conversion fees, if the trader deposits or withdraws funds that are a different currency than that of the trading account.

Deposits

The globex360 minimum deposit for all trading account types is 25USD. However, the VIP account has a specific condition, where the trader must reach a monetary minimum balance of fifty thousand dollars.

With globex360, it is possible for traders to withdraw funds through a different payment method from that used for depositing. The funds will be withdrawn and deposited through the same method of payment, but globex360 gives traders the option to transfer funds to a different mode of payment, as long as it is under the same name and personal information.