Frequently Asked Questions
Find our answers to the most popular questions which concerns Globex360°.
Deposit and withdrawals questions
How do I deposit funds to my account?
You can make a deposit inside your Client Area using any funding option that suits you best.
What is the minimum deposit?
The minimum deposit for all account types is $25. However, to get a VIP account, you have to reach a balance of minimum $50,000.
How do I withdraw funds from my account?
Log in to your Client Area and fill in the respective withdrawal form. There are no fees on withdrawals.
Do you have any charges on deposits and withdrawals?
How fast do you process my withdrawals?
We process all withdrawal requests within one working day.
How long does it take for funds to reach my bank account?
We process all withdrawal requests within 24 hours on business days. The time necessary for the funds to reach your bank account depends on your bank’s policy. Bank withdrawals can take 3-7 working days to be seen on the client’s account. Credit/debit card withdrawals can take up to 8 working days to be seen on the client’s account.
Can I withdraw via a different payment method from the one I used for depositing?
Globex 360 policy is to process withdrawals via the same method that you used to deposit. For example, if you deposited using a credit card, the card will be credited with the amount equal to the deposit amount minus fees and upon your request we can send any profits via other payment methods under your name.
Can I withdraw my money if I have open position(s)?
Yes, you can. However, at the moment of payment, your free margin must exceed the amount specified in the withdrawal instruction including all payment charges. Free margin is calculated as equity minus the necessary margin (which is required to maintain an open position).
If you do not have sufficient free margin on your trading account, we will not carry out the withdrawal request until you submit a corrected withdrawal form and/or close the open positions on your account.
What are the minimum and maximum position sizes?
The minimum trade size is 0.01 lot and the maximum trade size is 50 lots. The maximum amount of orders you can open on an MT4 account is 50.
What is your order execution speed?
Our average execution speed is around 200 milliseconds.
What are your margin call/stop out levels?
Our margin call / stop out levels are – 100/30%. Your account may be subject to a margin call if your account equity falls to a level that is equal to the margin of your existing positions. For example, you have an open position of 1 lot on EURUSD. The margin to hold that position is 200 USD.
When you opened the account, you had a 400 USD equity on your account. When the position starts to move against you and your account equity falls to 200 USD, you will have a margin call. But your position will not be closed yet. When your account equity falls to 30% of the required margin, then the system starts to close your positions immediately.
Taking the above example, if you open a position with 200 USD of margin and your account equity falls to 60 USD, then the system starts to close your position. If you have several positions opened, then the system closes them starting from the one with the biggest loss.
If, while closing the positions, your account equity reaches a level of more than 30% of the required margin, all other positions will remain open.
What are the minimum and maximum account leverage you offer?
The minimum leverage is 1:100 and it is available on basic accounts. The maximum leverage is 1:400.
Are hedging and scalping allowed?
Hedging is allowed (arbitrage trading). The required margin for hedging positions on Classic, ECN Pro, and VIP accounts is 0. Scalping is also allowed. There are no time limitations for keeping the positions open.
What is a slippage?
Globex360 is an STP broker, which means that we just clear our clients’ trades and retranslate quotes we get from our liquidity providers. Orders in the real market are always executed at current market prices, which is why a slippage may occur in the case of a sharp movement. Please note, that during market-moving news or high volatility, the risk of slippage is higher than during normal conditions. With us, you will get both positive and negative slippages.
What is Globex 360 execution model?
Order Execution model: DMA (direct market access), NDD (no dealing desk), STP (straight-through processing). ECN stands for Electronic Communication Network. NDD stands for No Dealing Desk. DMA stands for Direct Market Access. STP stands for Straight-Through Processing.
Do you offer negative balance protection/cover negative balance?
Traders who use the maximum leverage available face the risk of a negative balance.
For example: Let’s assume that you have 200 USD on your account and you open 1 lot on USDJPY on Friday evening, with 1:500 leverage and 200 USD margin.
On Sunday night, the market opens 30 pips away from Friday’s closing price in a direction against you, so your position will immediately have a loss of 30 pips x 10 USD = 300 USD loss, while you have only 200 USD on your account.
The position will be automatically closed and your account would have a negative balance of -100 USD. This situation is 100% impossible when a trader uses 1:1 leverage. The higher leverage a trader uses, the more risks they take. Please also note that a negative balance may occur due to a slippage during high volatility.
Our Risk department is constantly monitoring our clients’ risk-taking and if we see that a client trades irresponsibly, then we will notify the client via e-mail and ask them to reduce risk exposure. Also, we might reduce the leverage on the client’s account.
Negative balance protection is not guaranteed. The general practice is that we cover the negative balance, but all cases are reviewed on a case-by-case basis.
Do you offer FIX API connection?
We offer FIX API connection to our large private clients and institutional clients. The minimum account balance required is 25,000$ and the minimum monthly trading volume required is 500 lots. There are no other requirements or fees. We are not offering a demo version. If a client trades 500 lots per month, then we do not charge any fees for using it. However, if a client does not reach 500 lots, then a 1,000$ fee applies.
What are the limits of setting SL, TP, and TS?
You can set Stop Loss and Take Profit orders with no limits on all account types. SL and TP orders will still be active, even if your computer is switched off. The minimum Trailing Stop level is 1.5 pips or 15 points. It is possible to set only 1 trailing stop per order. You need to have the MT4 platform open to keep the trailing stop active.
What are your trading hours?
FX trading is available 24 hours a day, 5 days a week. You can trade from Monday 00:00 to Friday 24:00 (Server time, GMT + 2). For CFDs, we have specific trading hours listed here.
Do you have a dealing desk?
We don’t have a dealing desk because we are an STP broker and all our procedures are automated. We have no conflict of interest with our clients as 100% of the orders are cleared with liquidity providers.
Does slippage occur in your platform?
At Globex360, slippage can occur during big news announcements, depending on the market conditions and volatility. There can be both positive and negative slippage.
How many platforms are available for trading?
We offer one of the most popular and easy-to-use platforms,MT4 which is available for Windows, OS X, iOS and Android.
What is the margin call procedure for MT4?
Negative price movement can potentially lead to a margin call and the subsequent triggering of an automated margin close-out of positions. In the event that market conditions are unfavourable to you, we will set a stop-out level to reduce your maximum loss. This means that we will set a threshold of margin value, below which positions are automatically closed. This stop-out is set at 30% of the margin. For example, based on a margin of 100, the position would be automatically closed if the net equity** reaches 30 or lower.
In a nutshell, once your account net equity drops below 100% of the initial margin required to establish the open position(s), MT4 changes colour to red to indicate that you are close to or on margin call, and once your account net equity drops below 30% of margin requirements, your open positions will get closed automatically.
(**Net equity: Defined as the sum of the client’s net profit and loss on an open position(s) and client’s deposited funds.)
Do you offer Swap-Free accounts?
Yes, we offer Muslim faith traiders all our accounts with a swap-free option
Do you offer remuneration for Introducing Brokers?
We do offer an IB programme. Here is how it works:
1. Open an account in the Client Area. If you are an existing client, please insert your account number.
2. Agree to the terms and conditions in the Client Area – IB Room.
3. Promote our services to potential clients who may wish to open an account and start trading with us.
4. Start receiving IB commissions.
If you want to share your IB link with your clients, then please note that the URL link contains cookies. Cookies will save your IB information. When your client completes the registration form in the Client Area and opens an MT4 account, then your IB code will be provided by default as main IB.
How to attach clients to my IB account?
There are two ways a client can be attached to your IB account:
1. You provide your clients with a unique IB referral link. Whenever a new client goes to our website using that link, registers his Client Area and opens a live account, you immediately see him being attached to your IB account.
2. We can add an existing client under your IB account upon a written request from the client.
How is the IB commission added to my account?
Whenever your client makes a trade, it will be automatically shown in your IB Room with the calculated commission. The weekly IB commissions are added to your IB balance every weekend after what you can immediately withdraw them.
How can I withdraw my IB commission?
You can withdraw your IB commission anytime you want by filling in a withdrawal form inside the Client Area You can transfer the funds to your Globex360 live account or withdraw them to your bank account, Skrill, Neteller or any other available payment solution.
What account types do you offer?
We offer 3 account types: Basic, Standard and Pro. All accounts have the same execution speed.
Their differences are:
The tightest spreads are available on Pro acconts, but in order to open an account you need to deposit at least 5000 USD.
*There is no commission on the Basic account.
*There is no commission on the Standard account.
*There is a commission of 5USD per lot on Pro account.
The minimum deposit for the Basic account is 100 USD
The minimum deposit for the Standard account is 500 USD
The minimum deposit for the PRO account is 5 000 USD
How long does it take for my account to be approved after getting a verification email?
It takes 24 working hours after the time of your upload.
My documents are all correct and up-to-date but my Bank Statement gets rejected.why?
It’s the address if it is a P.O Box new KYC systems rejects it, You can call in to get it verified
My documents were verified but I can not make a withdrawal. What could be the possible reason?
It is mainly because the account has not been enabled as yet so the withdrawal button will be greyed out.
I uploaded my license but it gets rejected.why?
The reason being licenses have initials rather than full name so the system cannot authenticate information so it rejects it.
I am trying to upload my documents but I cannot find the option on the back office, what can I do ?
Advice once KYC process is initiated it needs to be completed.
Send documents through email for manual upload.
Why is my deposit not reflecting after 24 hours when? (This is normally for interbank transfers)
Incorrect referencing delays allocation process
It takes 24/48 hrs for funds to reflect when trasacting from a different bank
Why is my deposit not reflecting the full amount after payment was made via payfast?
Payfast has its own charges mainly being admin fees so it subtracts a percentage from funds sent
Different depositing methods which can be used ?