Globtrex Review – are the extremely high spreads worth it?

Globtrex.com is a forex broker that offers CFDs on stocks, indices, commodities, exchange traded notes and cryptocurrencies in addition to currency pairs. Learn more about CFDs here. It is a subsidiary of Coverdeal Holdings Limited, a company that is licensed in Europe by the regulatory authority CySEC. Therefore, it can legally offer its services there. The broker set the minimum deposit at $100.

Globtrex Review – Broker overview

Minimum deposit	100 USD
Platform	MT5, their own
Regulated broker	Yes
Regulations	CySEC
Demo account	Yes

Special features and advantages

Online webinars

Automatic Trading (EAs)

Trading platform

Globtrex offers two trading platforms for trading: MT5 and Globtrex Trader. MT5, like its famous predecessor MT4, was created by Metaquotes. In addition, can use both trading platforms from a web browser or a mobile device.

Globtrex fees (spreads)

Globtrex is just like other CFD brokers. Thus, it charges a spread fee. For the current value of this fee, please visit the Globtrex website. We have prepared a small comparison table here, where you will find the amount of Globtrex spread fees on popular currency pairs compared to 2 other popular CFD brokers.

EUR/USD	EUR/USD	USD/JPY	GBP/USD	AUD/USD
Plus500*	0.6	0.7	1.1	0.6
XTB*	0.8	1.4	2.0	1.7
Globtrex**	30.0	30.0	30.0	40.0

Globtrex – Review summary

Globtrex must adhere to the strict regulatory guidelines of the CySEC regulatory authority. The broker offers a demo account and MT5. Moreover, Globtrex hosts online webinars (currently on the basics of using MT5) every day at 10:00, 14:00, 20:00. However, on the fees page we found the amount of fees (spread) that the broker charges and they are really high compared to the competition. To be exact, are 30 and 40 pips on the main currency pairs. (see table above).

Advantages

• Relatively strict regulation
• Online webinars
• Demo account

Disadvantages

• Extremely high fees for currency pairs

GlobTrex Review – Broker rating