Note: Global Market is to operate via the website - https://globalmarket.co/, which is currently not yet functional and no information about the company was immediately available. Therefore, we could only gather relevant information from the Internet to present a rough picture of this broker.
Risk Warning
Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.
General Information & Regulation
Global Market is allegedly a forex broker registered in Germany that claims to provide its clients with 2,000+ tradable financial instruments with leverage up to 1:100 and floating spreads on a web-based trading platform. Here is the home page of this brokers official site:
As for regulation, it has been verified that Global Market currently has no valid regulation. That is why its regulatory status on WikiFX is listed as “No License” and receives a relatively low score of 1.23/10. Please be aware of the risk.
Market Instruments
Global Market advertises that it offers access to more than 2,000 assets, including forex currency pairs, commodities, shares, indices, and cryptocurrencies.
Leverage
The leverage provided by Global Market is capped at 1:100. It is important to keep in mind that the greater the leverage, the greater the risk of losing your deposited capital. The use of leverage can both work in your favour and against you.
Spreads
As tested on Global Markets web-based trading platform, the EUR/USD spread is as high as 3 pips, while the industry average is just 1.5 pips.
Trading Platform Available
Instead of the world's most advanced and popularly-used MT4 and MT5 platforms, Global Market gives traders a web-based trading platform. Anyway, you had better choose brokers who offer the leading MT4 and MT5, which are highly praised by traders and brokers alike due to their ease of use and great functionality, offering top-notch charting and flexible customization options. They are especially popular for their automated trading bots, a.k.a. Expert Advisors.
Deposit & Withdrawal
Global Market says to accept credit cards, wire transfers, and crypto deposits. The minimum initial deposit requirement is said to be $250. While the minimum withdrawal is $250 for wire transfers and $100 for all other methods.
There are fees for credit card withdrawals of $/€/£50 for wire transfers; $/€/£25 for credit cards plus a processing fee of $10/€7/£5; $/€/£25 for ePayments. There is also a 10% commission for withdrawals issued before making a trading turnover of at least 200 times. It takes between 5 and 7 days to process a withdrawal.
Bonuses & Fees
Global Market claims to offer some bonuses. However, the bonus may only be withdrawn subject to a minimum trading volume of 25 times the deposit amount plus the bonus issued. In any case, you should be very cautious if you receive a bonus. Bonuses aren't client funds, they're company funds, and fulfilling the heavy requirements that are usually attached to them can prove a very daunting and difficult task. Note that brokers are prohibited from using bonuses and promotions by all leading regulators.
The broker also charges a Dormant fee. If your account is inactive within 6 months, it becomes dormant and will be deducted to a deduction of 10% each month.
Customer Support
Global Market‘s customer support can be reached by telephone: +4930700107380, email: support@globalmarket.co. However, this broker doesn’t disclose other more direct contact information like the company address that most transparent brokers offer.
Pros & Cons
Frequently Asked Questions (FAQs)
