Editor’s Verdict
Overview
Review
Headquarters | United States |
|---|---|
Year Established | 1998 |
US Persons Accepted? |
Global Forex is a Forex trading service boasting an innovative, state-of-the-art trading platform. Global Forex is among the oldest Forex trading sites, founded in 1998. Global Forex is based on years of global currency trading experience and provides information for new investors. Global Forex also explains that Forex trading is a high-risk investment, which can be very lucrative but also carries a high risk of loss that is unsuitable for some types of investors. The site also offers extensive educational resources to potential clients to minimize the risk of losses.
Global Forex provides explanations about types of orders, margins and leverage, trading spreads, and rollover. Furthermore they offer a glossary of commonly used Forex trading terms, and answers to frequently asked questions. The site also features currency converters, links to online trading information sites, and an up-to-date news page to keep you informed of breaking news that can affect your trading. Finally, you can visit the book store page to gain further information to help you with trading.
Global Forex offers spreads as low as 2 pips, and both demo and live accounts to trade currency online. You are able to request either a USD $100K demo, or a USD Mini demo account to try out both types of online Forex trading. It is a cool feature called Simulated Forex Trading where for 30 days you can use this demo option for free without officially signing up. To use the Forex Demo Account, you must request an account type and download the FX Trading software, which works on Windows computers, and two plugins to customize the software. Global Forex also offers live accounts, which can be obtained by applying for an account and providing appropriate documentation. Accounts are available for users within the states as well as internationally. There is a $2000 minimum for regular accounts and $300 minimum for mini accounts. Forms and procedures for depositing and withdrawing funds are easily found on the website for traders.
Some key features and benefits to Global Forex is their constant available customer service, 24 hours a day, 7 days a week, even when the forex market is closed. Global Forex does not have any hidden or extra fees which is a plus when working in an unpredictable field. There are no extra fees for opening or closing an account, phone trading, inactive accounts or changing of Stop or Limit Orders. The funds are held in major US banks, as well as a 24 hour Stop Loss and Limit Orders. There is a currency converter tool where you can convert any amount you choose from one currency to the other, and be able to see the currency exchange.
Finally, Forex offers contact information for several email support lines to help traders maximize their benefits, and address software and computer concern in Forex trading.