Beware! GlobalStock365 is an offshore broker! Your investment may be at risk.
RECOMMENDED FOREX BROKERS
Don’t put all your eggs in one basket. Open trading accounts with at least two brokers.
It does not take a lot to deem GlobalStock365 an insolent scam. This broker is in no way regulated and cannot offer you in much of trading conditions or a good trading environment. For these reasons, we cannot recommend that you start trading with them – you will surely end up scammed.
GlobalStock365 Regulation and safety of funds
|Guaranteed Funds||Segregated Accounts||Negative balance protection|
|UK regulated brokers||£85 000||Yes||Yes|
|EU regulated brokers||€20 000||Yes||Yes|
|AU regulated brokers||No||Yes||Yes|
|US regulted brokers||Yes||Yes||No|
GlobalStock365 did not mention their specific country of origin or where they are licensed. This is probably because they are not regulated at all – no legitimate broker would just forget to mention such vital information. In fact, most brokers would be quick to mention all of their licenses – after all, a solid license is the only way to be sure of a broker’s legitimacy. Dealing with unregulated brokers is dangerous because you will have no guarantees that the broker would treat you fairly. Moreover, you would not be able to rely on any of the protection measures clients of legitimate brokers can generally benefit from.
Only work with regulated brokers – those regulated EU, UK, or Australia are generally the best options since such brokers are regulated by the strictest authorities in the world. Such brokers have to meet many requirements before obtaining a license. For example, all such brokers have to prove that they are financially stable by maintaining a certain minimum capital – €730 000 in the UK and the EU, and A$1 a million in Australia. Client funds must be kept in segregated accounts – so you can be sure your broker is not using your deposits for their own financial operations – and negative balance protection is provided to all retail clients – so you could never lose more money than you have in your account at the time.
GlobalStock365 Trading Software
|Analytical tools||Auto trading||Custom indicators||Mobile apps|
|cTrader||40+ indicators||✅||✅||Android and iOS|
GlobalStock365 offers a generic web-based platform devoid of any sort of impressive tools and features. The only benefit this platform offered was that it was easy to use.
Instead of wasting your time with such basic platforms, choose a more advanced option such as MetaTrader 4 or MetaTrader 5. Both of these platforms come packed with useful tools such as:
- Expert Advisors that track the markets and trade automatically
- VPSs that you can purchase to keep your trading bots operating at all times
- possibilities for creating custom scripts
- access to a huge trading community where you could exchange strategies
- possibilities for trying out those strategies through back-testing or in a demo account
Check out licensed brokers who offer one or both of these platforms
GlobalStock365 offered access to a fairly okay number of trading instruments. Clients could trade on various popular markets – forex, commodities, metals, cryptocurrencies, indices, and equities. However, this is the same package many established brokerages can offer you so there is no good reason to trade with scammers.
GlobalStock365 Spreads and cost of trading
GlobalStock365 offered a constant 1.2 pips across many major currency pairs. This leads us to believe that the broker might have done something to manipulate its platform because it is quite weird to get such a constant spread across so many pairs. There are plenty of great brokers that can offer the same competitive spreads – check out their offers instead.
GlobalStock365 Maximum leverage
|UK regulated brokers||30:1||5:1||❌||10:1||10:1|
|EU regulated brokers||30:1||5:1||2:1||10:1||10:1|
|AU regulated brokers||30:1||5:1||2:1||10:1||10:1|
|US regulated brokers||50:1||❌||❌||❌||❌|
The maximum spread GlobalStock365 offered on forex majors was 1:200. This is actually quite high – just consider the fact that leverage restrictions in the UK, the EU, and Australia ban brokers from offering more than 1:30 on forex majors. The reason for such restrictions is simple – trading with higher leverage could result in much bigger losses, especially if you do not have the knowledge and experience to handle it. That is why we always advise readers, beginners in particular, to be careful with their leverage settings.
GlobalStock365 Deposit and withdrawal methods
|Deposit time||Withdrawal time||Fee|
|Bank wire||2-5 business days||2-5 business days||$25+|
|Credit card||Instant||24 hours||Free|
|PayPal||1 hour||24 hours||2%|
|Skrill||1 hour||24 hours||2%|
|Neteller||1 hour||24 hours||2%|
|Crypto||24 hours||24 hours||Fee depends on crypto|
When we opened an account with GlobalStock365, we were quickly informed that we would have to wait for the broker to contact us and inform us about possible withdrawal solutions. That is far from usual – but we would not recommend that you deposit with such shady scam brokers anyway.
GlobalStock365 Minimum deposit
The price of a basic account with GlobalStock365 is $100 – which is fairly alright. You should keep in mind, however, that there are plenty of brokers that are far more reliable and would still open an account for you for a much smaller amount of money – even for as little as $10.
GlobalStock365 Withdrawal requirements
GlobalStock365 did not mention any specific withdrawal requirements but you should keep in mind that many scam brokers do have such requirements. Scammers might ask you to reach a huge turnover before allowing you to withdraw – in the meantime, they will have the chance to disappear with your money. You should also be on the lookout for high withdrawal fees – some scammers charge fees as high as 20-30%.
|Trading volume||Fee/Tax on withdrawal||Minimum withdrawal|
|GlobalStock365/ offshore brokers||No information||No information||No information|
|UK regulated brokers||No||No||No|
|EU regulated brokers||No||No||No|
|AU regulated brokers||No||No||No|
|US regulated brokers||No||No||No|