GLB Markets is a contract for difference (CFD) broker registered on its official website on August 26, 2018. It primarily offers CFD trading services in forex, metals, commodities, indices, stocks, etc. The headquarters address of the company is not disclosed, and the broker does not provide services to countries or regions where it may violate local laws or regulations.
Corporate registration information and regulatory status:
According to publicly available information on its official website, GLB Markets is affiliated with the trading brand of Global Investment House Limited. The company is registered as an International Business Company under the Seychelles Financial Services Authority (FSA). It is claimed that other brokers under Global Investment House Limited include IFE MARKETS, and both use the so-called X-web and X-mobile proprietary trading platforms.
Upon verification, the Seychelles Financial Services Authority (FSA) website did not show any information about a company named Global Investment House Limited, and GLB Markets was also not found.
Additionally, in the "Risk Warning" information on the broker's website, individual instances of "GLB Markets" were found to be replaced with "Zx Market." Upon investigation, "Zx Market" is identified as a CFD broker platform that has already shut down.
Account Opening:
To open an account with GLB Markets, users need to register for a personal login account. They can do this by visiting the broker's official website and clicking on "Register" in the top right corner. The registration form requires information such as name, nationality, email address, and phone number. After submitting the form, users need to verify their email through a verification code. Upon successful verification, the broker will send the trading account username and password to the email provided during registration. Within 15 days of activating the trading account, users must submit identity documents, credit card front/back copies or deposit certificates, proof of address, etc., for verification. After verification, users can deposit funds and start trading. Similar to IFE Markets, there have been reported issues where an error page appears after registration, yet the broker still sends the trading account and password via email. Unfortunately, these credentials cannot be used to log in on the GLB Markets website.
Account Types:
GLB Markets offers users three types of trading accounts: X-STANDARD, X-PREMIUM, X-PRO.
- X-STANDARD account: Minimum deposit of $200, standard spreads, maximum leverage of 1:200, available for forex trading and X-Web platform, maximum pending/open orders of 25 lots.
- X-PREMIUM account: Minimum deposit of $2000, premium spreads, maximum leverage of 1:400, available for forex and metals trading, supports X-Web and mobile platforms, maximum pending/open orders of 75 lots.
- X-PRO account: Minimum deposit of $5000, premium spreads, maximum leverage of 1:400, available for forex, metals, and commodities trading, supports X-Web and mobile platforms, maximum pending/open orders of 200 lots.
Additionally, the content of the trading account types provided by the broker is identical to that of IFE MARKETS.
Trading Platforms:
GLB Markets also provides users with the X-Web and X-mobile proprietary trading platforms.
Deposits and Withdrawals:
GLB Markets supports traders in depositing and withdrawing funds through methods such as bank wire transfers, credit cards/debit cards, Neteller, etc.
Contact Information:
Users can contact GLB Markets for customer support through phone at +442032899941, email at support@GLBMarkets.com, and the online contact form on the broker's official website.
Summary:
Traderknows warns investors that GLB Markets and IFE Markets are potentially fraudulent CFD trading platforms with the same origin, suspected to be re-established after the closure of Zx Market. It is recommended that investors stay away from this platform when choosing a trading platform. It is advised to opt for platforms with transparent information, effective regulation, and a good reputation to avoid unnecessary financial losses. Currently, the broker is marked as "suspected fraud" on Traderknows.
