GlobalPairs Review – Another Anonymous Brand On The Financial Market
GlobalPairs looks like a broker of the future, mentioning all the right points, such as NFTs, Metaverse, etc. However, if you take a second look, you will see that the brand is unregulated and is hiding some crucial details, such as the company owner. Read this GlobalPairs review and learn everything about the scam.
|Broker status:||Unregulated Broker|
|Regulated by:||Unlicensed Scam Brokerage|
|Blacklisted as a Scam by:||N/A|
|Headquarters Country:||UK (allegedly)|
|Types of Assets:||FX, commodities, indices, shares, cryptocurrencies|
|Free Demo Account:||No|
|Accepts US clients:||No|
What About GlobalPairs Regulation?
GlobalPairs is an online Forex and CFD trading provider allegedly based in the UK. As such, the firm should have an FCA regulation. Since we don’t have the official owner, we couldn’t run the search for the company’s real headquarters. Still, we can definitely say that the brand is not licensed by any Tier1 regulatory body, including FCA, ASIC, and BaFin.
Why Must A Broker Have a License?
A broker must have a license to prove its legitimacy. Instead of blindly trusting firms with your funds, you need to know that there’s a higher authority above the firm that will ensure that your funds are safe and that you can get them back if any issue arises.
Since GlobalPairs is not a legitimate or licensed investment firm, we advise you to avoid it.
Traders Reviews About GlobalPairs
GlobalPairs has terrific reviews on Trustpilot, with a score of 4.3 stars. However, if you check a bit better, you’ll notice that there’s not a single review giving 1 or 2 stars. Since even regulated companies have some unsatisfied clients and negative reviews, we can conclude this broker is writing its own reviews, and you should not trust it.
What Platforms Does GlobalPairs Offer? – Available Trade Software
For firm advertising as the future of trading, GlobalPairs has a pretty backward trading platform. The company offers only a proprietary WebTrader without any special features. This software doesn’t support EAs, social trading, or copy trading, so you’re left with some basic functions. And that’s definitely not a future of investing.
Instead of wasting your time and money with companies such as GlobalPairs, find yourself a legitimate company with MT4 or MT5.
All About GlobalPairs Accounts
The broker has 5 account types:
- Disruptor – $250
- Innovator – $10,000
- Rule Breaker – $50,000
- Pioneer – $100,000
- Trailblazer – $250,000
While maintaining its futuristic topic, this firm doesn’t offer any special or advanced trading conditions. Accounts differ in spread, leverage, and educational materials.
Does GlobalPairs Have A Demo Account?
GlobalPairs doesn’t have a Demo account, so you need to deposit the funds if you want to test their system.
Countries Where GlobalPairs Operates
According to our review, the company mainly targets citizens of:
- New Zealand
Note that this firm has no license and don’t fall for their scam wherever you are.
GlobalPairs Range of Trading Instruments & Markets
The firm clients can trade on 5 major markets, including:
- Currency pairs – EUR/USD, USD/JPY
- Commodities – gold, oil, sugar
- Indices – NASDAQ, DAX30
- Shares – Apple, Amazon, Facebook
- Cryptocurrencies – Bitcoin, Ethereum
Despite advertising AIs, trading robots, and more, the GlobalPairs trading platform supports only basic investing.
About GlobalPairs Trading Conditions
GlobalPairs can be considered an average broker when it comes to trading conditions. The spread starts at 1.6 pips for EUR/USD pairs, while other fees are not mentioned. Since the firm posted many fake advertisements on its web page and already proved it cannot be trusted, you should not get involved no matter what conditions they offer you.
GlobalPairs offers leverage of up to 1:400. The leverage cannot exceed 1:50 for the Forex market and 1:2 for cryptocurrencies following UK regulatory rules. This is just another proof that the trading company is a notorious scam to avoid.
GlobalPairs Scam Bonus Policy
Here comes the worst plot. If you have received a bonus, you cannot withdraw your funds before reaching the bonus amount 50,000 times. If, however, you need the money, the company says you can submit a request for up to 20% of your deposit. It’s not just that you cannot get your profit, but you cannot withdraw the full amount you invested either.
Why Are Trading Bonuses Banned?
Since scam firms were abusing bonuses and other incentives and using them to prevent clients from withdrawals, as’s the case with GlobalPairs, the regulators prohibited them. Yet, the broker follows no regulatory rules, so we’re not surprised to see it still gives bonuses with malicious clauses.
GlobalPairs Deposit and Withdrawal Methods
The company accepts the following payment methods:
- Wire transfer
However, you cannot deposit before speaking to the broker’s employees, so we’re unsure of the options you’ll be offered during this conversation.
GlobalPairs High Commissions
If you want to withdraw your funds, the company charges a withdrawal fee of 1%, with a minimum being 30 units and a maximum being 300 units for each withdrawal. Besides, there’s a dormant fee of 99 units if your account is inactive for more than 30 days.
Scammed by GlobalPairs Broker? – Let Us Hear Your Story
If you were scammed by GlobalPairs, tell us your story. We’re here to assist and help you recover your funds through the chargeback procedure.
But What Is A Chargeback?
A chargeback is a way for your bank to recover the funds from the merchant. If you cannot get a withdrawal, contact us right away, and let’s file a dispute. Don’t let scammers run with your hard-earned money, act now!
What Is GlobalPairs?
GlobalPairs is an online trading brokerage without regulation.
Is GlobalPairs a Scam Broker?
GlobalPairs claims to be UK-based but operates without regulation and doesn’t allow withdrawals.
Is GlobalPairs Available in the United States or the UK?
The company provides its services in the UK but doesn’t operate in the US.
Does GlobalPairs Offer a Demo Account?
The broker doesn’t offer a Demo account, only Live accounts.