Global Markets Review – 5 things you should know about glob-markets.com

Global Markets Review – 5 things you should know about glob-markets.com

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

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Global Markets is an offshore forex and CFD broker, based on the Seychelles, which offers four account types with a leverage of up to 200:1 and the Leverate’s Sirix trading platform.

The choice of trading instruments is not bad – nearly 50 forex pairs, many of which minor or exotic like USDNOK, USDSEK, USDRUB, USDTRY, USDMXN, USDZAR, USDSGD, USDRON, USDPLN, USDILS, USDHUF, USDHKD, USDDKK and USDCZK, as well as CFDs on various assets like silver, gold, aluminum, crude oil, cotton and cocoa, stocks and indices.

Spreads as advertised with their starting account were somewhat higher for our taste – 2,6 pips for the benchmark EURUSD pair is at least a pip higher than what most traders would have considered attractive. And yet spread are not our main issue with Global Markets, but their regulatory status – they just do not have a license.

Global Markets regulation & safety of funds

Global Markets is owned and operated by Cub Service LTD, which as we understand is incorporated offshore on the Seychelles and that is not very reassuring. On top of that the broker is not regulated as it should have been, if they want to service traders on regulated markets like the EU, the USA, Canada, Australia or Japan.

Bear in mind that proper regulation is the single most important factor that can guarantee the safety of your funds.

Unregulated brokers like Global Markets on the other hand are completely unaccountable for the way they handle your money – basically if you trade with a unregulated broker, you will have to rely solely on the integrity of the people, who run it, which unfortunately too often is not very high.

That is the reason we would suggest you to deal only with brokers holding legit licenses from well known and well respected regulators like the Financial Conduct Authority (FCA) in the UK, the Cyprus Securities and Exchange Commission (CySEC) or the Australian Securities and Investments Commission (ASIC).

Global Markets deposit/withdrawal methods and fees

Global Markets has a standard minimum deposit requirement of 250 USD and accepts payments with bank transfers, credit or debit cards like VISA and MasterCard and some e-wallets like PayPal.

Be aware however, that the broker might charge you with a very peculiar monthly inactivity fee – 5% or 25 USD, which ever is higher, in case your trading activity “is at a low level according to the Company’s determined standards”. That, we should note is highly unusual and no legit broker will ever charge you in such a way.

Also be aware of any trading bonuses that Global Markets might offer you, because you will have to meet a steep minimum trade volume requirement – 1 standard lot or 100 000 USD for every 5 USD of bonus you have accepted. Bear in mind that too often scammers use trading bonuses as an excuse to cancel your withdraw requests.

And besides, Global Markets says they reserve the right to change their bonus policy on their sole discretion, meaning that they can increase the minimum trade volume requirement, linked to the bonus, whenever they want.

How does the scam work?

Usually you will fall victim of a scam broker, after you register with one of the so called robo scam websites like Bitcoin Profit and Brexit Trader, which are trap portals for gullible traders.

A robo scam website is all about a video ad, where you will be told of “once of a life time investment opportunities”, where with a small deposit you will make big money – of course “risk free” and with “guaranteed returns”. And if you do leave your e-mail and phone, instantly you will be transferred to the web page of an offshore, scam broker, where you will have to deposit your first 250 USD.

And trading with the scammers might seem like a lot of fun in the beginning. Your trades will be amazingly successful and pretty soon the money in your account will seem to have doubled.

That however is just part of the scam – many fraudsters manipulate their trading platforms so that it would look like you are making a lot of money. And the idea here is that you deposit a larger sum. And that is exactly what your “senior account manager” will tell you on the phone – if you want to make some real money you will have to invest at least 10 000 USD.

Believe it or not, but by that time most people do invest that kind of money, without ever realizing they have been scammed until the very moment they request to withdraw some of their funds. Than all of a sudden it turns out they do not have the right to withdraw, because they have not met some minimum trade volume requirement, most probably linked to their welcoming bonus, they have so gladly accepted. The pretext might certainly be different, but the end result will always be the same – your money will be lost.

What to do if scammed?

The slim chance to recover your deposit is to file for a charge back with your credit card company. That is the only hope you have if you have been scammed. Fortunately, both VISA and MasterCard will allow you to do that within 540 days – that is according their new anti scam policy adopted in the fall of 2018.

And if for any reason scammers have managed to get to your banking details like credit card numbers or an online banking password, immediately change the password and block your credit card. And if you have been tricked to install a program like TeamViewer be sure to delete it as well.

One final note. Do not trust the so called recovery agencies – they will not help you in anyway, but will simply collect some fees in advance, basically scamming you a second time.

Rich Snippet Data
Review Date
Reviewed Broker
Global Markets
Broker Rating
11stargraygraygraygray

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4 Comments

  1. Terribly earning telemarketers calling several times a day. They are trying to pull out your money for forex trading without having any permission.
    One big SCAM !!!
    Don’t be fooled

  2. Wydzwaniają do mnie przedstawiciele i pracownicy tej firmy, w której pracują ludzie, którzy nie rozumieją kompletnie co się do nich mówi. Wielokrotnie powtarzałem, że NIE JESTEM ZAINTERESOWANY JAKĄKOLWIEK WSPÓŁPRACĄ z ich strony oraz prosiłem by dali mi spokój i przestali do mnie wydzwaniać. Nagabują do wpłacenia na ich platformę kwotę 250 USD, obiecując , że w ciągu miesiąca zarobię dzięki nim 200 – 300 USD. Mimo odrzucania połączeń, jednego dnia potrafili do mnie wydzwaniać ponad 20 razy !!! Pisałem do nich maile, które nie dochodziły, numer telefonu na ich stronie kompletnie nie odpowiada, na czacie jak tylko napiszę, by dali mi spokój to od razu się rozłączają.

    JEDNO WIELKIE OSZUSTWO !!!
    NIE DAJCIE SIĘ NABRAĆ ORAZ NACIĄGNĄĆ
    ——————————————–
    Representatives and employees of this company, in which people work who do not understand what is being said to them, call me. I have repeatedly said that I AM NOT INTERESTED IN ANY COOPERATION on their part and I asked them to give me peace and stop calling me. They are soliciting to pay USD 250 to their platform, promising that in a month I will earn USD 200-300 thanks to them. Despite rejecting calls, they were able to call me more than 20 times in one day !!! I wrote to them e-mails that did not arrive, the phone number on their site does not respond completely, in the chat as soon as I write that they would give me peace they immediately hang up.

    ONE BIG SCAM !!!
    DON’T BE Fooled And Pulled Out

  3. hi everyone, this is an e-mail of on of the brokers from Global market. They really go far in this:

    Hey …….,

    How are you? It’s Trevor Jones, we had an appointment about two days ago. I have been trying to reach you since then, all to no avail. I hope you’re okay? Hope everything is well with you? You do have me worried.

    I hope your birthday went well? As well as your trip back home?

    Do reach out if you can. Have a lovely day ahead. Looking forward to hearing from you.

    Best regards.

  4. Przestrzegam z całego serca przed Glob-markets.com . Są to oszuści, który wydzwaniają po kilkanaście razy dziennie namawiając do wpłacenia na ich platformę pieniędzy. Obiecują stopę zwrotu w wysokości 300 – 500 % w jeden miesiąc ! . Nie dociera do nich, że nie jestem zainteresowany. W życiu nie spotkałem się z tak upierdliwymi ludźmi.

    Przestrzegam nie wpłacajcie żadnych pieniędzy. BIG SCAM !!!

    ——————————

    I warn you with all my heart against Glob-markets.com. They are scammers who call several times a day urging them to pay money to their platform. They promise a return rate of 300 – 500% in one month! . It doesn’t reach them that I’m not interested. In my life I have not met such annoying people.

    I warn you, don’t deposit any money. BIG SCAM !!!

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