Globex360 Broker Review

Is Globex360 Safe?

Globex360 was founded in 2017 in Johannesburg and has been regulated by the 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 – though trade execution on Basic Accounts is instant, insinuating an automated dealing desk of some kind. Standard and Professional Accounts are both market execution. 

Globex360 does not offer negative balance protection, stating that “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.”

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 since the collapse of JP Markets traders should be very careful when choosing a Forex broker.

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Should I trade with Globex360?

We do not recommend Globex360 for Tanzanian Forex traders.

Even if the allegations of funding problems are untrue, Globex360’s trading costs are unreasonably high and its Forex education is poor. Even though Globex360’s minimum deposit is quite low at 100 USD, it does not publish its complete spreads, and the only platform available is MT4. 

We recommend choosing another broker from one of our lists: 

• Best Brokers in Tanzania
• Best Brokers with TZS Accounts
• Best FSCA Regulated Brokers

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

Editorial Team

 

Chris Cammack
Head of Content

Chris joined the company in 2019 after ten years experience in research, editorial and design for political and financial publications. His background has given him a deep knowledge of international financial markets and the geopolitics that affects them. Chris has a keen eye for editing and a voracious appetite for financial and political current affairs. He ensures that our content across all sites meets the standards of quality and transparency that our readers expect.

 

Alison Heyerdahl
Senior Financial Writer

Alison joined the team as a writer in 2021. She is the Senior Editor for FXScouts.  She has a medical degree with a focus on physiotherapy and a bachelor’s in psychology. However, her interest in forex trading and her love for writing led her to switch careers. She has a passion for Forex trading and over a decade of editorial experience researching Forex and the financial services industry, producing high-quality content. She hosts a weekly podcast, “Let’s Talk Forex,” alongside her colleague, Chris, and has produced over 100 Forex educational videos for the FXScouts YouTube channel. She also writes weekly technical analyses and has tested and reviewed over 100 Forex brokers.

 

Ida Hermansen
Financial Writer

Ida joined our team as a financial writer in 2023. She has a degree in Digital Marketing and a background in content writing and SEO. In addition to her marketing and writing skills, Ida also has an interest in cryptocurrencies and blockchain networks. Her interest in crypto trading led to a wider fascination with Forex technical analysis and price movement. She continues to develop her skills and knowledge in Forex trading and keeps a close eye on which Forex brokers offer the best trading environments for new traders.