FXGlobe provides three different account types, Standard Account, ECN PRO account, and ECN Razor Account. Each account type has its own set of conditions for commission, margin call, and leverage, and minimum deposits.
Finding a reputable list about FXGlobe account types local or worldwide can be a difficult process, especially finding a complete list from a trustworthy reputable source.
Below is an in-depth account types Review regarding this regulated Forex company, which will assist traders to make an informed decision when it comes to the various Forex trading accounts made available.
FXGlobe is an English forex company that was founded in 2008. Its headquarters in Limassol, Cyprus. The broker is an online ECN broker managed by FXGlobe Limited and focussed on optimizing its trading services and technology.
The company was originally established after a group of friends started trading together and sharing information. They did not like the brokers they dealt with and decided to start their own company.
FXGlobe operates a No Dealing Desk (NDD) model and offers trading in over 70 market instruments including forex, commodities, shares, and indices. It offers to trade using the MetaTrader4 platform through various account types.
The broker states on its webpage that it operates a transparent company with no hidden fees, no dealers and that it is fully regulated.
FXGlobe is registered in Cyprus, authorized, and regulated to operate in Europe through the Cyprus Securities and Exchange Commission (CySEC).
In addition, it also provides a list of countries it operates in on its website indicating which regulatory bodies it abides by in that specific country.
Besides this, FXGlobe is also governed by the European Markets in Financial Instruments Directive (MiFID), which fully supports its purpose to provide unified investment services regulatory management in the European Economic Area with increasing efficiency, competition, and consumer protection.
Funds are kept in separate accounts with top-tier European banks and cannot be used by the broker.
Overall, FXGlobe is an established and trusted forex trading broker. As a fully regulated broker, it helps customers of all levels around the world to step into the innovative Margin FX and CFDs marketplace.
It offers 24-hour customer service, market leading trade execution with fast withdrawal. The company offers customized trading technology and innovative tool packages for better risk management.
It also makes provision for the latest forex trading education materials and research tools. This is however only available for customers that have a registered account with FXGlobe.
There is also sufficient trading support and account management for traders of both beginner and advanced trading experience.
With FXGlobe you can also start your own brokerage firm. Start your own forex white label broker business from anywhere in the world with minor risk, cost, and in a minimal amount of time.
FXGlobe offers a forex white label solution and gives access to the ultimate suite of tools and technology. This also includes personalized wholesale, clearing, liquidity, and risk management solutions for your brand.
A white label broker enjoys FXGlobe’s full support system provided by our multi-language support center.
FXGlobe puts the flexibility, security, and full availability of forex trading in the hands of its clients through the three live account types on offer. These account types are a Standard Account, ECN PRO account, and ECN Razor Account.
The Standard and EXN PRO account are restrictions and intervention-free accounts. Traders will find that through these live accounts, FXGlobe offers competitive trading conditions along with comprehensive solutions and services.
With the Standard and ECN Pro accounts you can be sure your forex trading experience is given top priority.
Although the three live accounts have much in common it does have distinct features that make them different from one another.
- Executive Type: No Dealing Desk
- Minimum transaction size: 1 000 (0.01 lot)
- Minimum deposit: $ 250
- Account manager: Customer support
ECN PRO Account
- Executive Type: no Dealing Desk
- Minimum transaction size: 1 000 (0.01 lot)
- Minimum deposit: $ 1 000
- Account manager
ECN Razor Account
- Execution Type: No Dealing Desk
- Minimum transaction size: 1 000 (0.01 lot)
- Minimum deposit: $ 2 000
- Dedicated Account Manager
FXGlobe does not offer Muslim traders who follow Sharia law the option of opening an Islamic Account.
FXGlobe offers traders the option of opening a Demo Account which can be utilized in several ways, including, but not limited to the following:
- A practice account for beginner traders who wish to improve their trading skills and experience in a risk-free environment using virtual funds.
- Traders who are evaluating and comparing brokers who would like to explore FXGlobe’ trading conditions in a risk-free environment, and
- Traders who wish to test their trading strategies in a mimicked live trading environment without risking their capital.
- It is available for a period of 30 days.
FXGlobe’s demo account sign-up is fully digitalized and hassle-free.
It can be done within a few minutes and as soon as the trader is registered, demo trading can commence once the trader has downloaded and installed the MetaTrader 4 platform.
The purpose of an Islamic Account is that it caters specifically to Muslim traders who follow Sharia law. The law prevents its followers from paying any type of interest, such as overnight fees, which is seen as wasteful or exploitive.
Overnight fees are charged should traders hold positions open for longer after the trading day has concluded and this type of account allows exemption from such fees or interest, should they hold positions open for longer.
However, FXGlobe does not offer an Islamic Account to Muslim traders who follow Sharia law.
Traders who are interested in registering for an Islamic account must contact FXGlobe’s customer support to verify if the broker has in the meantime opted to offer the option of opening an Islamic account as conditions may have changed from the time of writing.
Pros and Cons
|✔️ PROS||❌ CONS|
|Well-regulated||US Clients not accepted|
|Segregated client funds used||Limited account types offered|
|Negative balance protection offered||Fixed spread accounts not offered|
|MetaTrader 4 platform offered||No Islamic Swap-free accounts offered|
|Demo Account offered||Only offers one trading platform|
|Exclusive trading tools offered||No VPS offered|
|Commission-free trading offered|
|One-on-one training provided|
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FXGLOBE AT A GLANCE
|Countries not accepted for trade||United States|
|Islamic Account (Swap Free)||No|
|Maximum Leverage||1: 300|
|Minimum Deposit||$ 250|
|Deposit Options||Visa, MasterCard, Zotapay, DotPay, Bank Wire Transfer,|
|Withdrawal Options||Visa, MasterCard, Zotapay, DotPay, Bank Wire Transfer,
Skrill, Neteller, Bitcoin, Ethereum
|Platform Types||MetaTrader 4|
|OS Compatibility||Mac, Microsoft Windows, Android, iPhone, iPad, Web, Desktop|
|Tradable Assets||Over 70 market instruments like forex, commodities, shares and indices|
|Languages supported on Website||English, French, Italian, Polish, German, Czech, Spanish, Indonesian, Arabic, Malay, Thai, and Portuguese|
|Customer Support Languages||English, French, Arabic, Greek, Italian, and Japanese|
|Customer Service Hours||24/5|
How many instruments can I trade with FXGlobe?
FXGlobe offers trading in over 70 market instruments like forex, commodities, shares, and indices.
Which platforms are supported by FXGlobe?
Does FXGlobe offer leverage?
Yes. Leverage of up to 1: 300.
What spreads can I expect with FXGlobe?
You can expect spreads that start from 0.4 on EUR/USD. This spread varies depending on the live account type you choose.
Does FXGlobe charge commission?
No. FXGlobe does not charge any commission.
Are there additional charges on the Islamic account?
This does not apply since FXGlobe does not offer the option of opening an Islamic Swap-free account.
Is FXGlobe regulated?
Yes. FXGlobe is regulated through CySEC.
Is FXGlobe a recommended forex trading broker for experts and beginners?
Yes. FXGlobe offers a trading environment for both beginner and expert traders.
What is the overall rating out of 10 for FXGlobe?
What is the difference between a demo and a live trading account?
A demo account offers the use of virtual funds instead of actual capital. This allows for risk-free trading as well as exploring of both the broker’s offer and the trading platform.
A demo account can be used for a variety of reasons including practice trading, testing trading strategies, exploring platforms and offers, and more.
Does FXGlobe offer a demo account?
For how long is the demo account valid?
The demo account is valid for a period of 30-days.
Does FXGlobe offer the option of an Islamic Account?
No. FXGlobe does not offer the option of opening an Islamic Swap-free account.
Which live trading accounts does FXGlobe offer?
FXGlobe offer a choice between three live account types, namely Standard account, ECN PRO account and ECN Razor account.
What are the available deposit currencies for a live trading account?
Deposits and Withdrawals
What is the minimum deposit for FXGlobe?
How do I make a deposit and withdrawal with FXGlobe?
- Bank Wire Transfer
Does FXGlobe charge withdrawal fees?
No. FXGlobe does not charge withdrawal fees but fees from financial institutions may apply.
How long does it take to make a withdrawal?
Withdrawals are usually processed within 24 hours. Traders should note however that depending on a specific bank service it may take several days for the money to be available in a client account.