Globalix review – 5 things you should know about Globalix.com

Globalix review – 5 things you should know about Globalix.com

Beware! Globalix is an offshore broker! Your investment may be at risk.

Don’t put all your eggs in one basket. Open trading accounts with at least two brokers.

 

Globalix is a Forex brokerage registered in the Marshall Islands. It provides both a web-based trading terminal and the MT4 trading platform, as well as an extremely generous leverage of up to 1:100. Furthermore, there is a wide range of trading products from which to choose and a required minimum deposit of $250 which is the industry average. The spread on EUR/USD is 3 pips which is also above the standard pip and a half, and a disadvantage for traders.

Globalix regulation & safety of funds

According to the website the company behind the brokerage is registered in the Marshall Islands with a registered address we have seen with countless other brokerages. Here is a screenshot:

We read that the company behind the brokerage is registered with the name Trust Company Complex. The Marshall Islands has become a top-destination for would-be scammers due to its very liberal laws regarding the registering of companies and lack of regulation. The government does not even require for someone to be physically there in order to register a company. Such a loophole has surely been noticed by many ill-minded brokers and utilized. Nonetheless, it’s safe to assume that the company behind the brokerage, irrespective of its legitimacy, does not fall under any regulatory oversight because the government of the Marshall Islands does not include Forex trading within its regulatory framework.

Putting that aside, the brokerage states that it provides the MetaTrader 4 trading platform, including a web version. The MT4 is among the foremost trading terminals in Forex trading at the moment, close to 80 percent of users prefer it. The platform provides an advanced charting package, lots of technical indicators, extensive back-testing environment and a variety of Expert Advisors (EAs). Beginner traders will find the trading platform easy to use as well, due to its user-friendly layout. We were able to register for a demo account. Here is a screenshot:

 

We see a spread of 3 pips which is twice the industry average and definitely not in favor for traders. Putting that aside, the offshore location of the brokerage and the unspecified address highly incline us to suspect that potential clients of the brokerage may be open to substantial risk.

Traders needn’t have to worry themselves with such risk if they choose to trade with a brokerage regulated and authorized by a prestigious regulatory agency. Such agencies are the FCA in the UK or CySec in Cyprus which have been leading names in Forex trading for some time now. Their regulatory framework is composed of a number of strict rules which prevent clients from falling victims to fraud. Such rules include the segregation of accounts which assures that commingling with the client’s money is not possible. Furthermore, a license by such a regulatory body entails participation in a financial mechanism by which clients may be compensated if they suffer losses due to fraud or bankruptcy. With the FCA the compensation is up to 85 000 pounds, where as with CySEC it is up to 20 000 euro per person.

Globalix deposit/withdrawal methods and fees

Traders may deposit or withdraw via Visa, MasterCard, wire transfer, as well as e-wallet Skrill.

In the terms and conditions of the brokerage we did find noteworthy provisions. Here is a screenshot:

There is a 3.5 percent processing fee for withdrawals via credit cards. Furthermore, there is a dormant account fee. Here is a screenshot:

Accounts that have been inactive for more than 45 days will be charged a monthly fee of $100. This is quite an excessive measure since brokerages usually charge such a fee after a longer period, say a year.

We also read that there is an autotrading software fee. Here is a screenshot:

 

Accounts that have used one of the auto-trading software products and have not executed at least 20 trades before withdrawing will be charged a $100 fee.This is why we always advise traders to put up only the required minimum deposit, instead of risking a bigger amount with no certainty. Afterwards, they may also try to withdraw a small amount in order to check for any unexpected fees or delays. Such fees and delays are usually the signs of a scammer.

How does the scam work?

Unfortunately, the possibility of a scam looms over almost every trade in forex, especially if you are dealing with an unregulated brokerage. That is why we believe traders should be acquainted with the methods of a scam. Here is how it would typically go about:

Through clicking an ad with promises for fast money, you will be redirected to a website such as  Bitcoin Evolution or Crypto Cash where registration will require you to give your address, email and phone number. After sharing your personal information, you will being receiving calls from brokers, compelling you to invest with them and win big. After a few minutes hearing their pitches, you decide to deposit some $200-250. And just like that – the scammers take a fat commission from this initial deposit.

After they are done with you, senior scammers begin working you into putting even more money. They say it’s the only way to profit from trading even more. After making the mistake of investing even further, you’ll begin wanting to get out of this and withdraw what you have left.

Unfortunately, the con-artists have no such thing in mind. They will now begin persuading you to wait it out and not withdraw right now. The motive here is quite straightforward – traders have a limited time window for filing a chargeback with their bank and get their money back. The “recovery department” will simply want to mislead you into missing this crucial period and, along the way, losing any chance you might have of getting the money back.

What to do when scammed?

As was mentioned above, scamming is quite the common in the trading world and, sadly, even you might suffer from it. In such an unfortunate case there still may be some available options for you.

You may contact your bank or credit card provider and file a chargeback. Furthermore, due to the high instances of fraud – both Visa and MasterCard have decided to sidestep scammers as best they can in Forex trading. The first thing we have seen so far is that MasterCard has increased the previous time period of six months for filing a chargeback to a year and a half.

If, however, you have provided the broker with your credit card details, immediately cancel your credit card.

If you have given information regarding your online banking pass – you should switch it asap!

Beware of potential calls from self-described “recovery agencies”! They prey on scammed and vulnerable traders who are desperate to recover their losses. They will require an “up-front” payment to help you, but after paying them, no such help will be coming your way!

Rich Snippet Data
Review Date
Reviewed Broker
Globalix
Broker Rating
11stargraygraygraygray

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10 Comments

  1. I confirm it’s a scam….

    I deposited $250 which i will never see them again.
    The phone number is not valid as well as the e-mail (the e-mails i tried to send gave me “wrong address”)

    You can;t withdraw either OF COURSE and i tried to cancel my deposit calling my bank and they told me that the company is from Nigeria…
    Also tried to withdraw my money with no luck again.

    Perhaps the “prince of Nigeria scam” is back but in another form.

    Anyway the conclusion is DO NOT deposit ANY money what so ever, it’s a scam and you can’t even trade, but even if you could you would never get your money.

    That’s all from me take care and safe trades

    1. Finger weg! Das Geld wird nie ausgezahlt, egal wie häufig man den Auftrag gibt, den Support kontaktiert oder sonstiges. Im harmlosesten Fall verliert man das Pfand von 250 Dollar.
      ————————
      Hands off! The money will never be paid, no matter how often you place the order, contact the support or otherwise. In the most harmless case you lose the pledge of $ 250.

  2. for the 1st time in my life I got scammed, I was browsing the internet and saw the add about autotraderpro, I opened the page and decided to try my luck with 250 (as per the instruction) I didn’t realize that I’m transferring the funds to a 3rd party (Globalix), I did the transfer but my balance remained zero, although the transfer was affected and is shown in my account under their records. I tried to chat with the employee but no one responded, I sent emails and received a reply that the email doesn’t exist, I called the phone and received the same result (the line doesn’t exist or disconnected) in conclusion “IT’s A SCAM”

  3. Same here.. I have lost 500

  4. Ich habe mich bei the-bitcoinscodes.com angemeldet.Zum Einzahlen wurde ich dann auf Globalix verwiesen.Ich zahlte 250$ ein, mit der Hoffnung, das mein Geld auf Bitcoin Code verwiesen wird. Es war aber nicht so. Mich rief ein Senior Broker an und sagte, sie arbeiten mit Bitcoin Code zusa,mmen, aber handeln müsse ich auf Globalix. Er stellte dann Auto Trade ein, aber nicht mit Cryptowährung, sondern mit anderen Währungen. Seit dem bin ich nur am verlieren. Ob sie Auszahlen wei icht nicht. Ich will erst mal abwarten, ob ich wieder in den Plußbereich komme. Es läuft immer noch der selbe Trade von GBP/USD. Da bin ich seit 3 Tagen nur im Minus. Was kann ich machen?
    ———————————
    I signed in to the-bitcoinscodes.com. I was then referred to Globalix for deposits. I paid $ 250 with the hope that my money would be directed to Bitcoin code. It was not like that. A senior broker called me and said they work with Bitcoin code, but I have to act on Globalix. He then hired Auto Trade, but not with crypto currency, but with other currencies. Since then I am only losing. Whether she does not know payout. First of all, I want to wait and see if I am back in the area of luxury. There is still the same trade in GBP / USD. Since I am 3 days only in the minus. What can I do?

  5. Maurice George Golding Rodriguez

    Globalix as far as I am concerned falls under the nomination as a great con. Initially as you well say in your article the professionalism exudes, then gradually they force you to deposit larger amounts. Gladly I avoided this invitation, and then one day I get no further calls and as you also mentioned their email addresses are not valid nor the contact telephone numbers.I only lost 250 dollars. So beware they are really good scammers, don’t be fooled by their charms.Also, I tried different ways to withdraw my money without any success.

  6. Guys good that i have read this, i nearly got scammed by them, they even called me, one girl was really nice to me and we spoke but i felt something wrong about it, their web is very well designed, they look really professional, but it was too good to be truth, now i am really far-far away from that type of bussiness, also by those who want to recover the money for you, they also scam you, so be careful guys!!!

  7. Μάριος Αιβαζογλου

    Μείνετε μακρυά είναι 100% απάτη κ ισχύουν όλα όσα λέει το κείμενο κ τα σχόλια όσων εξαπατηθηκαν
    ——————————
    Stay away is 100% fraud and everything the text says and the comments of those who were cheated apply

  8. Auch ich bin leider darauf reingefallen, 250 Euro investiert, anfangs hat alles ganz gut ausgesehen, bis ich eine Auszahlung wollte, dann hat alles begonnen….
    Ich wollte mein Konto schließen. Nicht möglich. Auszahlung nicht möglich. Nun werde ich bedrängt nochmals 1900 Euro zu zahlen damit Sie mein konto schließen. Mache ich das nicht muss ich mit einer po ale von 5000euro rechnen…..
    Ich zahle sicher keinen Cent mehr, aber was tun damit das konto geschlossen wird?
    —————————————-
    Also, unfortunately I fell for it, invested 250 euros, at first everything looked quite good, until I wanted a payout, then everything started ….
    I wanted to close my account. Not possible. Payment is not possible. Now I am pressured again to pay 1900 euros to close my account. If I do not do that I have to reckon with a total of 5000euro …..
    I’m sure not paying a penny, but what do you do to close the account?

  9. i am jean claude jeanne i haved open my account wih with someone by the mobile phone the first thing i want to know where haved been invested my 300 hundred euros.
    the last time that i dont no what can do.Also, unfortunately nothing will be refund.

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