FXGlobe Review: All About This Brokerage

FXGlobe is a broker that has been operating since 2008 and it’s owned by FS International Limited which is registered in Vanuatu. Besides FS International Limited, FXGlobe is also owned by FXGlobe Limited, which is a Cyprus-based company.

But now comes the tricky part. FS International Limited, the company that owns FXGlobe.com and FXGlobe.io is regulated by an offshore entity from Vanuatu. The only part of FXGlobal that actually holds a regulation is FXGlobe.eu which is owned by another company, FXGlobe Limited.

The confusion between the two could lead traders to believe they’re protected when they aren’t and that’s why we made this FXGlobal review.

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How Are You Protected at FXGlobe? Security and Regulation

We know that all of this is a bit confusing and trust us, we were confused as well. Just as we mentioned above, FXGlobal has two entities. One is based in Cyprus and the other one is based in Vanuatu.

Mainly, the domains FXGlobal.com and FXGlobal.io don’t actually hold any strong licenses. This is because Vanuatu is considered an offshore location and their regulatory body doesn’t actually overlook any forex or CFD trading. That’s why both FXGlobal.com and FxGlobal.io have earned an official warning from none other than the Financial Conduct Authority (FCA).

On the other hand, the FXGlobe.eu has a CySEC regulation, which is considered a Tier 2 regulator. In other words, you will be much safer working with that domain as you will actually have some security. We also saw many complaints regarding this brokerage and we believe that those were mainly made against the offshore-based location in Vanuatu. And if you want to work with a broker with a good license, we suggest you choose Blueberry Markets.

Accounts Types Available

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On all the FXGlobal domains, we saw that they offer the same three types of accounts and those include the following ones: 

• Pathfinder – $250
• Navigator – $2,500
• Infinity – $25,000

As for the minimum deposit, it’s all the same even if you are working with a Vanuatu or Cyprus location. But we do have to say that the minimum required deposit is a little bit on the pricier side even for the CySEC-regulated company.

On top of that, they are offering bonuses that are prohibited by the rules set by ESMA. In other words, it just shows that they are not following ESMA and other European set rules as they are offshore-based.

As for the FXGlobe.eu, they are not offering any bonuses which is a good sign and means they are following the rules.

The only good thing we found about the offshore entity that is the same for the Cyprus-located one, is that all of them offer a Demo account. This is a great way to test out the broker’s services and test out the platform before deciding if you want to deposit. 

FXGlobe Trading Platforms

On the positive side, FXGlobe provides the most trusted trading platforms which are the industry standards by now. Of course, those are the trusted MetaTrader4 and MetaTrader5. Therefore, features like social trading, copy trading, and algo-trading are some that traders can expect here.

But even though the offshore entity does provide the amazing MetaTrader4 and MetaTrader5 platforms, we do advise you to opt for the FXGlobe.eu as they are actually the only ones regulated and have CySEC regulations. 

Trading Instrument Offered

When it comes to the trading instruments offered, we were surprised to see that this brokerage doesn’t actually offer cryptocurrencies. Mainly they only offer four different financial classes. Those include the following ones: 

• Forex – USD/JPY, AUD/SGD
• Commodities – Oil, Gold
• Indices – US500, Italy40, Brazil50
• Shares – AIG, Deutsche Bank

As for the leverage, it depends on which entity you are working with. For FXGlobe.com and FXGlobe.io, the leverage caps are at 1:300, while for the FXGlobe.eu the leverage caps at 1:200.

You can see from that, that even the FxGlobe.eu which is regulated by the CySEC has violated the rules set by ESMA, where it is stated that the leverage can’t cap over 1:30. 

FXGlobe Funding Methods

A variety of depositing options are available with this broker. All deposits are done through the broker’s dashboard and clients can choose from the following methods:

• Visa or Master credit or debit card
• Wire transfers 
• SEPA
• Neteller
• Skrill
• Swift

As for the withdrawals, they can be done the same way you made a deposit and there are any fees as the broker has stated. There are only different requirements depending on which option you choose as the minimum withdrawal option for the Swift is $300 while for the SEPA is €250. For the debit/credit cards and Neteller and Skrill, the minimum withdrawal amount is $50. 

Research and Education 

This is where FXGlobe does not fall behind some well-known brokers like Dukascopy. On their website, whichever domain you choose, you can find the Community tab which includes: 

• Webinars and seminars
• Events
• Channels

These are all created in order to help you get started with trading or just help you improve your skills. But that’s not all. There is also an Academy tab which features the following:

• Master class courses
• Video tutorials 
• Ebooks
• Glossary
• Blog

So we can conclude that this broker put much of their time in developing this educational material to help their clients know everything they need before they invest.

While you may think it’s boring, we would certainly say that it is very well worth it to take a look at their impressive library. No matter if you are a visual learner or one that preferes textbooks, they got you covered! 

Customer Support 

On the website of FXGlobe.com and FxGlobe.io, you can reach them via the UK number they have provided, via email or you can fill out the message inquiry directly on their website. 

As for the FXGlobe.eu, you can reach them on the Cyprus phone number, email or as well fill out the message directly on their website.

The company is open from Monday to Friday but they haven’t stated the operating hours of the customer support. 

FXGlobe Overall Summary

To summarize this review, FXGlobe is a broker that is owned by FS International Limited registered in Vanuatu, but besides this one, they also have FXGlobe Limited, which is a Cyprus-based company. In terms or regulations, their Cyprus-based entity is regulated by Tier1 regulator CySEC. And as for an offshore entity, which we talked about mostly in this review, they are regulated under VFSC.

Keep in mind that getting a license from these offshore entities is much easier as their regulatory bodies do not do a proper job of overseeing the forex and other trading markets.

In terms of minimum deposit, we would say it is on the pricier side as they seek at least $250 as an initial investment. The leverage is also much higher than expected with 1:300 for an offshore and 1:200 for EU.

Lastly, we must highlight that the broker, specifically their two domains ( fxglobe.io and fxglobe.com )  got a warning from the UK’s FCA for not following proper guidelines and still offering its services across Europe.

FAQs About FXGlobe Broker