@GlobalFx has been flagged by Financial Conduct Authority for "Unregistered/Unlicensed entity offering financial products or services". This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm.
@GlobalFx changed their fee structure with one month notice. What was a flat fee became a percentage. For my account size it meant a huge increase. When I objected they said I could leave. So I am leaving and writing this review.
Pros: Responsive team|Social trading features|Quick verification|Dividend tracking
Cons: No live chat on mobile
Tried to withdraw my funds from @GlobalFx and was told I needed to pay a "withdrawal tax" of 20%. This is a red flag. No legitimate broker charges withdrawal taxes. When I refused, they became aggressive and eventually stopped all communication. My entire investment is gone.
Pros: Initially responsive customer service
Cons: No regulatory oversight|Money disappeared|Fake testimonials
My card was charged twice by @GlobalFx on the same day. I had to dispute it with my bank. @GlobalFx then froze my account and said I had a negative balance because of the chargeback. They created the problem and then punished me for it.
Pros: Fast execution|Multi-device support|Comprehensive tools|No hidden fees
Cons: Wait times can be long during peak hours|Spreads widen during volatile periods
Do not be fooled by the professional-looking website. Behind the scenes, @GlobalFx is disorganized and incompetent. I found them from a review site like this one and I can only assume the positive reviews are either outdated or paid for because my experience was terrible.
Pros: Regular updates|Easy withdrawals|Segregated accounts|Multi-currency support
Cons: No live chat on mobile|Minimum deposit could be lower