FXGLOBE RATING -OVERALL SCORE {70.92%} (?)
FxGlobe is a ECN/STP Forex broker based in Cyrpus and regulated by CySEC.
■ Deposit Requirements: 250 USD (ECN accounts from $10,000)
■ Funding: FxGlobe ATM Card | Credit Cards | Bank Wire | Neteller | PayPal | Skrill | JCB | CashU | GoCash | More Local Fund Methods
■ Platforms: MetaTrader-4 | WebTrader | Mobile Traders
■ Customer Support: English | Arabic | Spanish | French | Italian | Greek
The RatingFormula 5.0 gives a good rating as concerns FxGlobe's 'Technology' and 'Trading Options' but a poor rating as concerns 'Competition' (due to wide spreads). FxGlobe seems a good choice for swing traders and Forex beginners. The ECN account offers better conditions for professional traders (minimum account is $10,000).
FXGLOBE RATING SUMMARY
The following table contains FxGlobe's rating summary based on (i) three rating aspects, (i) three experience levels, and (iii) three trading styles.
| FOREX BROKER RATING | (MAX 100%) |
|
73.1% |
|
52.5% |
|
75.0% |
|
92.2% |
|
70.92% |
| TRADING EXPERIENCE | |
|
70.8% |
|
63.6% |
|
62.3% |
| TRADING STYLE | |
|
64.2% |
|
71.7% |
|
56.1% |
FXGLOBE DETAILED RATING REVIEW
| FXGLOBE RATING ANALYSIS | ||||
| FXGLOBE TOTAL RATING | 100.0% | FxGlobe | ||
| 70.92% | ||||
| A. FXGLOBE SAFETY OF FUNDS | MAX WEIGHT→ | 28.0% | 20.47% | Rating the FxGlobe Safety |
| A.1 FxGlobe License / Regulation | FCA (UK) = 10.0% | FINMA (Swiss) = 10.0% | NFA/CFTC (US) = 10.0% | BAFIN (GE) = 8.0% | ASIC (AU) = 8.0% | FSC (NZ) = 6.0% | CYSEC (Cyprus) = 6.0% | HCMC (GR) = 3.0% | FSC (BVI) = 1.0% | MiFID (EU) = +0.5% rating | 10.0% | 6.50% | FxGlobe is regulated by CySEC = 6.0% rating, MiFID Rating = +0.5% | Total = 6.5% |
| A.2 FxGlobe Client Compensation in Case of Insolvency | Covering 50,000 USD/EUR/GBP = 5.0% | Covering 20,000 USD/EUR/GBP = 4.0% | Covering 10,000 USD/EUR/GBP = 3.0% Covering 50,000 USD/EUR/GBP = 5.0% | Covering 20,000 USD/EUR/GBP = 4.0% | Covering 10,000 USD/EUR/GBP = 3.0% Covering 50,000 USD/EUR/GBP = 5.0% | Covering 20,000 USD/EUR/GBP = 4.0% | Covering 10,000 USD/EUR/GBP = 3.0% Covering 50,000 USD/EUR/GBP = 5.0% | Covering 20,000 USD/EUR/GBP = 4.0% | Covering 10,000 USD/EUR/GBP = 3.0% |
5.0% | 4.00% | FxGlobe offers client compensation (in case of insolvency) up to 20,000 EUR through ICF = 4.0% rating |
| A.3 FxGlobe Country of Headquarters | UK, USA, Germany, France, Canada, Switzerland, and similar = 5.0% rating | Australia, New Zealand = 4.0% rating | Ireland, Spain, Italy, Cyrpus, and similar countries = 3.0% rating | Greece, Malta, South Africa = 2.0% rating | Offshore Countries = 0% | 5.0% | 3.00% | FxGlobe maintains headquarters in Cyprus = 3.0% rating |
| A.4 FxGlobe Years in the Market | 10+ Years of Operation = 5.0% rating | 5-10 Years of Operation = 4.0% rating | 2-5 Years of Operation = 2.0% rating | 0-2 Years of Operation = 0% | 5.0% | 4.00% | FxGlobe was found in 2009 (5-10 years) = 4.0% rating |
| A.5 FxGlobe Client Account Segregation | Client bank account segregation = 2.5% rating | No = 0.0% | 2.5% | 2.50% | FxGlobe provides client bank segregated accounts = 2.5% |
| A.6 FxGlobe Web Ratings | ForexPeaceArmy Rating = 0.5% rating | 0.5% | 0.47% | FxGlobe ForexPeaceArmy Rating is 4.7/5.0 = 0.47% rating |
| A.7 (+) FxGlobe ADJUSTING RESULTS | ||||
| A.7.1 FxGlobe Corporate Size | 1 million Trading Accounts = +1.0% rating | 500,000+ Accounts = +0.5% rating | 250,000+ Accounts = +0.25% rating | 1.0% | 0.00% | FxGlobe handles less than 250,000 accounts = 0% Rating |
| B. FXGLOBE TRANSACTION COST | MAX WEIGHT→ | 28.0% | 14.70% | Rating the FxGlobe Transaction Cost |
| B.1 FxGlobe spread on EURUSD | <0.3 pip = 7.0% rating | <0.4 pip = 6.5% | <0.5 pip = 6.0% | <0.6 pip = 5.5% | <0.7 pip = 5.0% | <0.8 pip = 4.5% | <1.0 pip = 4.0% | <1.25 pip = 3.5% | <1.50 pip = 3.0% | <1.75 pip = 2.5% | <2.00 pip = 2.0% | <2.25 pip = 1.5% | <2.50 pip = 1.0% | <2.75 pip = 0.5% | 7.0% | 2.00% | Typical FxGlobe EURUSD spread is 1.9 pip = 2.0% rating |
| B.2 FxGlobe spread on GBPUSD | <0.85 pip = 4.5% rating | <1.00 pip = 4.0% rating | <1.25 pip = 3.5% rating | <1.50 pip = 3.0% rating | <1.75 pip = 2.5% rating | <2.00 pip = 2.0% rating | <2.25 pip = 1.5% rating | <2.50 pip = 1.0% rating | 3.00 pip = 0.5% rating | 4.5% | 0.50% | Typical FxGlobe GBPUSD spread is 2.7 pips = 0.5% rating |
| B.3 FxGlobe spread on USDJPY | <0.85 pip = 4.5% rating | <1.00 pip = 4.0% rating | <1.25 pip = 3.5% rating | <1.50 pip = 3.0% rating | <1.75 pip = 2.5% rating | <2.00 pip = 2.0% rating | <2.25 pip = 1.5% rating | <2.50 pip = 1.0% rating | 3.00 pip = 0.5% rating | 4.5% | 0.50% | Typical FxGlobe USDJPY spread is 2.8 pips = 0.5% rating |
| B.4 FxGlobe Trade Commissions | No Commissions = 7.0% rating | Commissions < $1.0 / lot = 6% rating | < $1.5 / lot = 5% rating | < $2.0 / lot = 4% rating | < $3.0 / lot = 3% rating | < $4.0 / lot = 2.0% rating | < $5.0 / lot = 1% rating | < $6.0 / lot = 0.5% rating | Higher Commissions = 0% rating | 7.0% | 7.00% | FxGlobe does not charge trading commissions on the tested account type = 7.0% |
| B.5 FxGlobe Overnight (SWAP) rates | Cost < $1.5 = 2.00% rating | Cost < $2.0 = 1.75% | Cost < $2.5 = 1.50% | Cost < $3.0 = 1.25% | Cost < $3.5 = 1.00% | Cost < $4.0 = 0.70% | Cost < $4.5 = 0.50% | Cost < $5.0 = 0.25% | 2.0% | 0.70% | FxGlobe rollover on a Long EURUSD trade worth 1 lot ($100,000) is -$4.26 | FxGlobe rollover on a Short EURUSD trade worth 1 lot ($100,000) is +$0.73 | Total cost in absolute value is $3.53, rating = 0.70% |
| B.6 FxGlobe Commissions on Funding | No Funding Fees = 2.0 % rating | One (1) Free Withdrawal Per Month = 1.0 % rating | Funding Fees Without Free Withdrawal = 0 % rating | 2.0% | 2.00% | FxGlobe does not charge withdrawal commissions = 2.0% rating |
| B.7 FxGlobe Inactive Fees | No Inactive Fees = 1.0 % rating | Yes Inactive Fees = 0 % rating | 1.0% | 0.00% | FxGlobe charges Inactive Fees after 90 days of no activity (quarterly charge of $15) = 0.0% rating |
| B.8 (+) FxGlobe ADJUSTING RESULTS | ||||
| B.8.1 FxGlobe Execution Model | ECN Execution = +2.0 % rating | STP = +1.5 % rating | Dealing Desk = +0.0% rating | 2.0% | 2.00% | ECN Order Execution Model = +2% rating |
| C. FXGLOBE TRADING OPTIONS | MAX WEIGHT→ | 28.0% | 21.00% | Rating the FxGlobe Options for Traders |
| C.1 FxGlobe Forex Asset Index | 45+ Pairs = 8.0% rating | 40+ Pairs = 7.0% rating | 35+Pairs = 6.0% rating | 30+ Pairs = 5.0% rating | 25+ Pairs = 4.0% rating | 20+ Pairs = 3.0% rating | 15+ Pairs = 2.0% rating | 10+ Pairs = 1.0% rating | Less than 10 Pairs = 0% rating | 8.0% | 8.00% | FxGlobe Provides 52 Forex Pairs = 8.0% rating |
| C.2 FxGlobe CFDs | CFD Trading on MT4 = 2.5% rating | CFD Trading on WebTrader = 1.5% rating | No CFDs = 0.0% | 2.5% | 2.50% | FxGlobe offers CFD trading = 2.5% rating |
| C.3 FxGlobe CFDs on Futures | CFDs on Futures = 1.5 % rating | No CFDs on Futures = 0.0 % rating | 1.5% | 0.00% | No CFDs on Futures = 0.0% rating |
| C.4 FxGlobe Free Practice Account | Practice Account = 2.0 % rating, No = 0.0 % rating | 2.0% | 2.00% | FxGlobe Provides a free Demo/Practice account = 2.0% rating |
| C.5 FxGlobe Trading Leverage | Leverage > 100:1 = 1.0% rating | Leverage > 75:1 =0.75% rating Leverage > 50:1 = 0.5% rating | 1.0% | 1.00% | 300:1 max Trading Leverage = 1.0% rating |
| C.6 FxGlobe Bonus/Rebate Promotions | 5.0% | |||
| C.6.1 FxGlobe Welcome Bonus (%) | Welcome Bonus >50% = 5% rating | Bonus >40% = 4% rating | Bonus >30% = 3% rating | Bonus >20% = 2% rating | Bonus >10% = 1% rating | 0.00% | No Welcome Bonus = 0.0% rating | |
| C.6.2 FxGlobe Trading Rebate (%) | Trading Rebate >30% = 5% rating | Rebate >25% = 4% rating | Rebate >20% = 3% rating | Rebate >15% = 2% rating | Rebate >10% = 1% rating | Rebate >5% = 0.5% rating | 1.00% | FxGlobe Offers some trade rebates (about 10% of total cost) = 1% rating | |
| C.7 FxGlobe Min. Account Size | Min Account < $100 = 2.00% | Min Account < $250 = 1.50% rating | Min Account < $500 = 1.00% rating | Min Account < $1,000 = 0.50% rating | 2.0% | 1.50% | The min. deposit amount is $250 = 1.5% rating |
| C.8 FxGlobe Number of Deposit Methods | For every deposit method = 0.5% rating | max = 5 methods | 2.5% | 2.50% | FxGlobe offers 5+ deposit methods = 2.5% rating |
| C.9 FxGlobe Number of Withdrawal Methods | For every withdrawal method = 0.5% rating | max = 5 methods | 2.5% | 2.50% | FxGlobe offers 5+ withdrawal methods = 2.5% rating |
| C.10 Minimum Stop-Order Levels (in pips) | 2 pips or less = 1% rating | 3 pips or less = 0.5% rating | 4 pips or less = 0.25% rating | 1.0% | 0.00% | FxGlobe offers over 4 pips minimum stop-out order distance = 0.0% rating |
| C.11 (+) FxGlobe ADJUSTING RESULTS | ||||
| C.11.1 Offering more than 100 Forex Pairs | Offering more than 100 Pairs = 1.0 % rating / No = 0 % rating | 1.0% | 0.00% | 52 Forex pairs = +0% rating |
| C.11.2 Paying Interest on unused funds | Paying interest on Unused Funds = 0.50 % rating No = 0.0 % rating | 0.5% | 0.00% | No = +0% |
| C.11.3 FxGlobe Contests | Contests = 0.25 % rating | No = 0 % rating | 0.25% | 0.00% | FxGlobe does not offer a Real/Demo Account Competition = +0.00% rating |
| D. FXGLOBE TECHNOLOGY | MAX WEIGHT→ | 16.0% | 14.75% | Rating the FxGlobe Technological Efficiency |
| D.1 FxGlobe Trading Platforms Availability | For every Platform = 1.0% | max = three (3) platforms | 3.0% | 2.00% | FxGlobe offers 2 platforms (MT4 and Webtrader) = 2.0% rating |
| D.2 Trading-On-Charts | Offering Trading-On-Charts = 1.0 rating | No=0% | 1.0% | 1.00% | FxGlobe is offering 'Trading-On-Charts' = 1.0% rating |
| D.3 FxGlobe Slippage on Execution | Slippage < 1.00 pip = 1.0% rating | < 1.25 pip = 0.75% rating | < 1.50 pip = 0.5% rating | < 1.75 pip = 0.25% rating | 1.0% | 0.25% | FxGlobe Slippage on execution is less than 1.75 pip = 0.25% rating |
| D.4 FxGlobe Automated Trading Allowance | Automated Trading is Allowed = 2.0 % rating / No = 0 % rating | 2.0% | 2.00% | FxGlobe allows automated trading = 2.0% rating |
| D.5 FxGlobe MT4 Platform Availability | MT4 is Provided = 2.0 % rating / No = 0 % rating | 2.0% | 2.00% | FxGlobe offers the MT4 platform = 2.0% rating |
| D.6 FxGlobe Mobile Apps | iOs= 1% rating | Android = 1% rating | Windows Mobile is 0.5% rating | max = 2% rating points | 2.0% | 2.00% | FxGlobe offers an MT4 App for iOs and Android = 2.0% rating |
| D.7 FxGlobe Allowing Scalping / Hedging | Yes, both are allowed = 1.0 % rating | Only Hedging / Scalping = 0.5% rating | Both are Forbidden = 0 % rating | 1.0% | 1.00% | FxGlobe allows both Scalping and Hedging = 1.0% rating |
| D.8 FxGlobe Customer Service | 24/7 Support = 1.0 % rating | 24/6 Support = 0.5 % rating | 24/5 Support = 0 % rating | email support = 1.0% rating | Phone support = 1.0 %. | Live Chat support = 1.0% | Skype support = 1.0 % | Forum support = 1% | Call-Back = 0.5 % rating | 4.0% | 4.00% | FxGlobe offers 24/6 Customer support = 0.5%, via eMail, Phone, Live Chat, Callback = 3.5% | Total rating is 4.0% |
| D.9 (+) FxGlobe ADJUSTING RESULTS | ||||
| D.9.1 FxGlobe PAMM / MAM Accounts | PAMM / MAM Accounts = +0.5% rating | No = 0 % rating | 0.5% | 0.50% | PAMM/MAM accounts = +0.0% |
| D.9.2 FxGlobe Free VPS | Free VPS = +0.5% rating | No = 0 % | 0.5% | 0.00% | FxGlobe is not offering a free VPS hosting service = +0.0% |
| D.9.3 FxGlobe API Trading | API trading = +0.5 % rating | No API = 0.0 % rating | 0.5% | 0.00% | FxGlobe is not offering API trading = +0.0% |
| TOTAL FXGLOBE RATING | 70.92% | |||
FXGLOBE LICENSES AND LEGAL INFORMATION
■ FxGlobe is the trading name of FxGlobe Limited, based in Cyprus (HE 254133)
■ FxGlobe is regulated by CySEC (Cyprus), Registration Number: 205/13
■ FxGlobe is a member of ICF and covers up to 20,000 EUR per client in case of corporate insolvency
■ FOREX RATINGS: ► RoboForex Rating | ► TitanFx Rating | ► FXDD Rating | ► IC Markets | ► FxOpen | ► FP Markets | ► FBS Group | ► AXI Rating
■ COMPARE: » Brokers Directory | » Automated Trading Systems
□ FxGlobe Rating Review
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