GlobeX360 vs Forex4You - Fees Review included
Which broker is better GlobeX360 or Forex4You? Our expert assessment conducted according to TU’s own methodology showed that GlobeX360 is one of the top brokers in the financial market with the TU Overall Score of 4.49 out of 10. Forex4You is one of the top brokers in the financial market with the TU Overall Score of 8.57 out of 10. Find out more about TU Overall Score.
| Feature | GlobeX360 | Forex4You |
|---|---|---|
Overall |
1.7 |
4.4 |
1.5 |
4.3 |
|
1.6 |
4.0 |
|
2.1 |
4.1 |
|
Investment Instruments |
1.9 |
4.8 |
Platforms and Charting Tools |
1.4 |
4.5 |
Deposit and Withdrawal |
2 |
4.4 |
Research |
1.6 |
4.5 |
Education |
1.9 |
4.4 |
Support |
1.5 |
4.5 |
Bonuses |
2.2 |
5 |
|
|
GlobeX360 vs Forex4You: Pros and Cons
GlobeX360 is a broker established in 2017 that focuses on traders from the African continent. It is a provider of online trading services for Forex and CFDs on stocks, indices, cryptocurrencies, and commodities. GlobeX360 is registered with the Companies and Intellectual Property Commission (CIPC) and is regulated by the South African Financial Sector Conduct Authority (FSCA). In 2020, International Business Magazine was named Fastest Growing Forex Broker and Most Innovative Broker.
The broker Forex4you started in 2007. The company provides a full range of active and passive trading services in the Forex market. The company runs its operations in the British Virgin Islands, under the license BVI FSC (license number SIBA/L/12/1027). Forex4you is committed to responsibility and professionalism. In 2018, according to Le Fonti, the company was awarded the ‘Best Broker’ which is the highest award achievable, and prior to this it has consistently won and received nominations for awards including ‘Forex Broker of the Year’ and ‘Best Service Quality’ nomination.
| GlobeX360 | Forex4You | |
|---|---|---|
| Overall Pros | There is a wide range of currency pairs and CFDs to trade. | Trading With Leverage up to 1:1000 |
| It is regulated by South Africa’s supervisory authority. | 2 types of cent accounts | |
| It has an average minimum deposit on Standard accounts. | Share4You copy trading platform | |
| It keeps clients’ funds in segregated bank accounts. | Forex bonuses | |
| Investment offerings: You can connect to the MAM service, copy trading signals from MQL5.com, use Expert Advisors for automated trading. | Instant withdrawal of funds | |
| It provides clients with access to free services with useful market information and analytics, including from TradingView. | ||
| It offers free online courses and training webinars from professional traders. | ||
| Overall Cons | High spreads on all trading account types. | Not a big choice of trading assets |
| No negative balance protection. | High fees | |
| The broker does not work with residents of the USA, Belgium, or Canada. |
GlobeX360 vs Forex4You: Safety and Regulation
| Regulated By: | GlobeX360 | Forex4You |
|---|---|---|
US Regulation |
No |
No |
FCA (Great Britain) |
No |
No |
CySec (Cyprus, EU) |
No |
No |
ASIC (Australia) |
No |
No |
Other Regulators |
FSCA |
BVI FSC (British Virgin Islands ) |
GlobeX360 vs Forex4You: Trading Conditions
| Trading Conditions | GlobeX360 | Forex4You |
|---|---|---|
Minimum Deposit |
$100 |
$1 |
Trading Platforms |
MetaTrader 4 (desktop, mobile) |
MT4, Forex4You |
Max Leverage (Futures) |
1-500 |
1-1000 |
Supported Markets |
Currency pairs, CFDs on indices, commodities, cryptocurrencies, stocks |
Currencies, assets of stock and commodity markets, cryptocurrencies |
Trading assets |
98+ |
100+ |
Trading Accounts |
Demo, Standard, Professional, Islamic |
Cent, Cent NDD, Classic, Pro STP |
Base Account Currencies |
USD, EUR, GBP, ZAR, KWD |
USD, EUR |
GlobeX360 vs Forex4You: Fees
Forex Trading Fees
| Fee | GlobeX360 | Forex4You |
|---|---|---|
Standard Account EURUSD Average Spread |
1.6 pips |
2 pip |
Standard Account Fee |
$0 |
$0 |
ECN/STP Account Fee |
Not supported |
$8 per lot |
ECN Account EUR Average Spread |
Not supported |
0.2 pip |
CFD Trading Fees
| Fee | GlobeX360 | Forex4You |
|---|---|---|
CFD Trading Fee |
Floating spread |
Floating spread |
Non-Trading Fees
| Fee | GlobeX360 | Forex4You |
|---|---|---|
Account Fee |
No |
No |
Deposit Fee |
No |
No |
Withdrawal Fee |
Applied on the payment systems side |
No |
Inactivity Fee |
No |
No |
A conversion fee may be applied as withdrawals and deposits are conducted in USD. Any other currency will have to be converted.
GlobeX360 vs Forex4You: Trading Assets
| Asset Name | GlobeX360 | Forex4You |
|---|---|---|
Overall |
98+ |
100+ trading assets |
Forex |
Yes |
Yes |
Stocks |
Yes (CFD) |
Yes (CFD) |
Metals |
Yes (CFD) |
Yes (CFD) |
Cryptocurrencies |
Yes (CFD) |
Yes (CFD) |
Energy |
Yes (CFD) |
Yes (CFD) |
Indices |
Yes (CFD) |
Yes (CFD) |
ETFs |
No |
No |
Bonds |
No |
Yes (CFD) |
Mutual funds |
No |
No |
Stock options |
No |
No |
Futures Trading |
No |
No |
Binary Options |
No |
No |
GlobeX360 or Forex4You: Investment Programs
| Asset Name | GlobeX360 | Forex4You |
|---|---|---|
Copy Trading |
Yes |
Yes |
MAM/PAMM |
Yes |
No |
Managed Accounts |
No |
No |
Other |
Algorithmic trading |
No |
Trading Platforms: Forex4You or GlobeX360
| GlobeX360 | Forex4You | |
|---|---|---|
MT4 |
Yes |
Yes |
MT5 |
No |
No |
cTrader |
No |
No |
Appropriate platform |
No |
Forex4You |
Others |
No |
No |
|
|
GlobeX360 vs Forex4You: Deposit and Withdrawal Methods
| Deposit and Withdrawal Method | GlobeX360 | Forex4You |
|---|---|---|
Bank Transfer |
Yes |
No |
Debit Card |
Yes |
Yes |
Electronic Wallets |
Yes |
Yes |
Crypto |
No |
No |
GlobeX360 vs Forex4You: Research
| Research Type | GlobeX360 | Forex4You |
|---|---|---|
News Feed |
Yes |
Yes |
Fundamental Data |
Yes |
Yes |
Chart Analysis |
Yes |
Yes |
Trading Ideas |
Yes |
Yes |
E-Mail Reports |
No |
Yes |
GlobeX360 vs Forex4You: Education
| Education Type | GlobeX360 | Forex4You |
|---|---|---|
Demo-account/Paper Trading |
Yes |
Yes |
Webinars |
No |
Yes |
Articles |
Yes |
Yes |
Videos |
No |
Yes |
Cent account |
No |
Yes |
Forex4You vs GlobeX360: Support
| Support Features | GlobeX360 | Forex4You |
|---|---|---|
Working Days |
8/5 |
24/5 |
Yes |
Yes |
|
Phone |
Yes |
Yes |
Online chat |
No |
Yes |
Other |
WhatsApp, callback |
No |
GlobeX360 vs Forex4You: Forex Bonuses and Promo
| Promo | GlobeX360 | Forex4You |
|---|---|---|
Forex Bonus |
The company draws 50,000 South African rand between clients every three months, but the exact timing of the bonus offer is not listed on the broker’s website; |
5-100% deposit bonus |
Affiliate Program |
Business Referrers (BR) and the IB (Introducing Brokers) programs are for companies and individuals who can attract new customers to GlobeX360. The partner receives a commission for each transaction closed by the referral - up to $7 per lot. According to the company, currently, the most active BRs earn more than $30,000 per month. |
Up to 50% of referrals spread |
Other Promos |
||
|
|
Top 5 Reviews on Forex4You
-
Comment
As a beginner trader, you can trade with experienced traders strategies, profit, and cashout without knowing how to truly analyze the market on Forex4You. The share4You service is copy trading service where inexperienced traders follow the activity world class traders and can copy their trades. Start by signing up for share4you once you are logged in, you will be presented with a list of many traders you can copy from. I would use the filter to select a traders based on performance, risk, commissions, profile, etc. Using the filter helps you focus on the type of traders you want to copy. So to start copying, click on the trader you want to copy, enter the investment amount which must be equal or higher than the minimum, then click start copying to proceed. You will be redirected to deposit the investment amount you choose instead if you have not funded your account yet.
-
Comment
FOREX4YOU is a low-cost trading platform with a minimum trade volume of 0.01 for all five account types on Forex4You. The cent Pro and classic have a floating spread starting from 0.1 pips, the classic standard account starts from 0.9 pips while the fixed and classified accounts have a fixed spread starting from 2 pips. Since I trade with the pro cent account, I trade with leverage starting from 1:10 to 1:50 with a minimum trade volume of 0.01 lot and a floating spread of 0.1 pip.
-
Comment
Becoming a top trader is a mile you can cover without committing any funds if you trade with the Forex4You MT4 demo account. The trading environment you trade on the demo account is the same as the one you will be using when you trade on a real account. You have everything you need on the demo account, ranging from the chart types to the indicators, risk management tools, and unlimited opening of orders. One of my favorite indicators is the MACD and it is my favorite when I want to identify moving averages that are about adapting a new trend. To know when there is a new trend the MACD line (blue line) which is the faster moving average, crosses the signal line (red line) which is slower.
-
Comment
Forex4you has a good service. Although I can’t say that there are no problems at all. Sometimes they charge a fairly high fee for copying trades. Although, I don’t understand why one account has a higher subscription fee than another. Alsol, it happens that the Forex4you platform malfunctions. But in general, you can trade profitably here.
-
Comment
Forex4you is a normal exchange. Sometimes the platform freezes, precisely when there is a strong movement in the cryptocurrency market. Then only limit orders work for me; it is impossible to place a market order. Forex4you has enough cryptocurrency markets; I am not interested in exotic ones. I withdraw only to Bitcoin and Ether wallets, withdrawals come quickly.
Top 5 Reviews on GlobeX360
-
Comment
I am a novice trader and GlobeX360 seems to be a good option, because there are no high requirements for the minimum deposit and you can open orders with minimum volumes. But the situation with educational materials at GlobeX360 is very poor. There are some trading strategies, but they have long been outdated.
-
Comment
First, I’ll say that Globex 360 successfully withdraws profits and deposits, provided that traders have successfully passed verification. However, there are some nuances with its trading platform. Slippages occur from time to time and cases of platform freezing have been observed. But in general, despite these shortcomings, Globex 360 has every reason to be rated good.
-
Comment
I do not recommend working with Globex360. It calls itself a Forex broker, but in reality it will just take your money. How did this happen to me? I decided to start investing and made the mistake of opening an account with GlobeX360. Due to glitches on the platform I was unable to earn anything. My $1,700 remained there.
-
Comment
And what positive aspect is there because the company GlobeX360 is located in South Africa and has a license from the local regulator? This license is of no use to me. GlobeX360 has not been withdrawing my profit of $1500 for almost a month now. I hoped the broker was reputable and honest. But it turns out they can deceive clients when they claim that fund withdrawals are very fast.
-
Comment
It looks like I will have to leave GlobeX360. I opened an account with this company five months ago. Everything was fine on the demo account. The platform worked well and trades were opened quickly. But as soon as I switched to a live account, a lot changed. Now orders can take two minutes to open, although on the demo account it was very fast. I thought it would be better later. But the GlobeX360 platform constantly has problems.
FAQs
What should I start Forex trading with?
It is desirable for novice traders to explore trading using a demo account to learn the market and how to work on the trading platform without the risk of suffering losses. At the same time, it is advisable to review the educational materials of the broker, learn trading basics. Then you can deposit the minimum required amount to perform a small number of transactions. If you manage to close several months in a row in the black, without substantial drawdowns on the account, then you can try increasing your deposit. Also trying to copy trades automatically is a good option for a start.
What amount should I start trading with?
The minimum deposit of $10 may be enough to trade on the cent account. However, for trading on Standard/ECT accounts, experts recommend starting with at least $200-500. With this amount, you can use not a very big leverage. Remember, getting carried away with the margin is the main cause of losses among beginners.
What should I take into consideration when choosing a broker?
Experts recommend looking at the broker’s reliability first and foremost. The other important features include basic trading conditions, commissions and fees, customer reviews. If brokers are approximately the same in terms of basic criteria, you need to choose based on your experience and tasks. One broker may be good for professionals and another – for novice traders.
Is it possible to be scammed by a broker with a license from a reputable regulator?
In theory, yes. But in practice, it takes so much time and money to comply with the requirements of reputable regulators that it is not worth it for scammers to bother obtaining a legitimate license.
Team that worked on the article
Mikhail Vnuchkov joined Traders Union as an author in 2020. He began his professional career as a journalist-observer at a small online financial publication, where he covered global economic events and discussed their impact on the segment of financial investment, including investor income. With five years of experience in finance, Mikhail joined Traders Union team, where he is in charge of forming the pool of latest news for traders, who trade stocks, cryptocurrencies, Forex instruments and fixed income.
The area of responsibility of Mikhail includes covering the news of currency and stock markets, fact checking, updating and editing the content published on the Traders Union website. He successfully analyzes complex financial issues and explains their meaning in simple and understandable language for ordinary people. Mikhail generates content that provides full contact with the readers.
Mikhail’s motto: Learn something new and share your experience – never stop!
Olga Shendetskaya has been a part of the Traders Union team as an author, editor and proofreader since 2017. Since 2020, Shendetskaya has been the assistant chief editor of the website of Traders Union, an international association of traders. She has over 10 years of experience of working with economic and financial texts. In the period of 2017-2020, Olga has worked as a journalist and editor of laftNews news agency, economic and financial news sections. At the moment, Olga is a part of the team of top industry experts involved in creation of educational articles in finance and investment, overseeing their writing and publication on the Traders Union website.
Olga has extensive experience in writing and editing articles about the specifics of working in the Forex market, cryptocurrency market, stock exchanges and also in the segment of financial investment in general. This level of expertise allows Olga to create unique and comprehensive articles, describing complex investment mechanisms in a simple and accessible way for traders of any level.
Olga’s motto: Do well and you’ll be well!