What do investors think of Global Markets? Is it safe to trade using the Seychelles-based platform? Are the available investment products worth it? How welcoming is Global Markets to rookie investors?
In order to answer these questions, we put Global Markets, a new-and-coming Contracts-for-Difference broker, to the test. We investigated the platform’s security, interface, list of options, and regulatory compliance.
Investors who wish to test the platform for themselves can register a demo account and experience the platform before they commit to investing real money. The demo account is also a wonderful way for inexperienced traders to sharpen their skills and practice trading in real market conditions. Global Markets also offers a range of comprehensive learning resources – an online academy, video tutorials, e-books on Forex, trading and economics, and even 1×1 sessions. You can take advantage of this library of resources – register with Global Markets today!
Global Markets provides services to over 30 countries, including most of Europe and South-East Asia, but excluding US and Canada. The broker is regulated in each jurisdiction it operates in, and follows all international anti-money laundering laws.
Contracts-for-Difference, also known as CFDs, are a complex trading tool with an inherent risk of major or complete loss of funds. You must never invest more than you can afford to lose. Before you engage in CFDs trading, it is important to understand this risk, as well as consider your risk tolerance threshold and goals. Global Market’s academy teaches you all the underlying principles of CFDs and helps rookie traders avoid common mistakes.
- Forex: USD/EUR, USD/GBP, EUR/GBP, USD/JPY, EUR/JPY, etc.
- Commodities: Gold, Silver, Crude Oil, Aluminum, Agriculture, etc.
- Stocks: Microsoft, Amazon, Apple, Netflix, Tesla, PayPal, Uber, etc.
- Indices: NSDQ, CAC 40, S&P 500, FTSE 100, etc.
Global Markets offers a mix of popular and lesser-known pairs and investment products. Most of the options are available to all accounts, although some are reserved to higher-tier investors.
|World Indices||$15 per lot||$13 per lot||$11 per lot||$9 per lot|
|Equities US & Asia||$14 per lot||$13 per lot||$11 per lot||$9 per lot|
|Free VPS Service||No||No||No||Yes|
Global Markets accounts come in four different tiers, each designed to fulfill the needs of a specific investor profile. The tiers – Silver, Gold, Platinium, and Diamond – differ little in terms of functionality. All tiers have access to 24/7 customer support and 1×1 sessions, but some of the investment options are available only to accounts that are Gold or above.
The broker operates in Muslim-majority countries through Islamic Trading Accounts – a type of account which follows the guidelines of Islam and is compliant with Sharia law.
Is Global Markets Safe? Or is it Scam?
One of the most important aspects to consider when choosing your Forex brokers is their safety level. The CFDs trading industry is still plagued by scammers, so the protection of your hard-earned money is the first criteria you may consider – and rightfully so.
Thankfully, Global Markets checks all the boxes to be considered a trustworthy trader. The broker is based in the Seychelles and regulated by the Seychelles financial authority. Global Markets is a legit trading platform, and not a scam – at least according to over 30 jurisdictions that have granted a license to the platform, including heavily regulated countries such as the UK and Japan.
All private data, including transactions history, account balance, and opened positions, is encrypted. This should go without saying, but unfortunately that is not always the case. Thankfully, Global Markets takes account security extremely seriously.
As an optional feature, you can also enable a two-factor authentication security layer that will ask for an extra code, sent to your mobile phone, whenever you try to log-in.
Global Markets implements various security measures to guarantee the complete safety of your funds. Most notably, the platform keeps all investors funds segregated from company ones, ensuring your money is never used for wrongful purposes either intentionally or by mistake. This measure also helps your funds be identified in the extremely unlikely scenario anything goes wrong with the platform.
Your account is also protected by Negative Balance Protection – a policy which states you can never owe money to the broker. Should a trade go wrong due to market fluctuations or leverage, negative balance protection makes it impossible for you to lose more money than you have deposited into your account. In other words, your account balance can never go below zero.
Global Markets operates on SIRIX – a all-in-one Forex trading interface with in-built social trading functions, developed by Leverate. SIRIX is one of the most popular Forex interfaces for a good reason – its clean interface with numerous customization options complements Global Markets’ range of products, and provides clear visualization to the market fluctuations of your product of choice.
Through SIRIX Global Markets is available on any device that can run a contemporary web browser. The broker is also available on Android and iOS mobile devices through an officially released app – you can download the app today from Google Play Store or Apple’s App Store.
The Global Markets desktop web interface is intuitive and easy to navigate, with properly labeled buttons and menus. By default, the platform opens to a candlestick visualization of the most popular major Forex pairs, but those can be easily changed by a drop-down menu. Opening a position is done with two clicks of the mouse, with the option to enable one-click trade. All the tools necessary to make an informed trading decisions are easily accessible, but there is no clutter and information flow is kept to a minimum – which makes Global Markets web a great choice for your first trading platform.
The desktop web interface is intuitive, with clearly labeled buttons and menus, and a layout that is easy to navigate. There are plenty of customization options, especially when it comes to visualizations and user-defined labels. Although the layout itself is not customizable, this isn’t necessarily a bad thing, as it removes a layer of unnecessary complexity and keeps the interface focused on what’s important – trading.
Your account balance is always shown at the bottom, and your open positions are displayed in a box just below the visualizations window. You can always change the current visualized pair through a drop-down menu, though the option to display those pairs in groups would’ve been helpful.
The mobile interface of Global Markets does not stray too far away from its web platform, keeping the layout mostly the same, with a few major, but necessary differences. The platform has been properly adapted for work on a smaller screen. We tested Global Markets on the long discontinued iPhone SE – one of the iPhones with the smallest screens – and it behaved more than adequately on this older model. Judging by its performance on the SE, the app should perform without any issues on any modern device such as the Galaxy S10 Plus or the iPhone XS Max.
Fees & Spreads
Global Markets does not impose fees on deposing money to, or withdrawing money from your account. The platform also doesn’t impose commissions on trading Forex pairs, instead relying on relatively low spreads, with spread levels dependent on the account tier, as well as the pair or product.
For a full list of spreads, visit Global Markets’ web page.
Being a reliable and legit broker does not mean it is easy for investors to receive their money. Thankfully, we did not experience any issues when withdrawing money from our Global Markets trading accounts. There are no fees applied to withdrawing, but it is worth noting that if you withdraw money to a bank account or e-wallet in a currency different than the one on your account, your financial services provider may apply currency exchange fees.
Withdrawing requests are processed within 7 business days. You can only withdraw money to sources you’ve already deposited money from, and you need to provide copies of a photo ID document and bank statement. This is in accordance with international anti-money laundering laws.
So, is Global Markets Legit?
As far as Forex trading goes, it is rare for a newcomer to be as promising as Global Markets is. With its combination of low spreads, intuitive interface, regulatory protection, and range of investment products, Global Markets is a great partner for investors of all experience levels.
For the rookie traders, Global Markets offers a comprehensive academy, and a library of e-books and video tutorials, designed to teach the basics of Forex trading.
You can register your account today – opening a demo account is free of charge.