Global-Solution – Are They a Scam?
Stop! It’s a Scam! Your money is not safe if you are trading with this unregulated, off-shore broker.
Global-Solution - DO NOT TRADE WITH THIS PROVIDER
2.2/10
$100
Minimum Depositupdated 2021
The details for opening trading accounts are not indicated on the broker’s website. In order to register with this broker, you only need to go to their sign-up page where you’ll be asked to enter your name, email address, phone number, and password. You’ll also be asked to accept their Terms and Conditions and confirm that you’re over 18 years of age. After this, the trading platform will be made available for you and you can start trading using their demo account.
Try these regulated brokers if you want to start trading cryptocurrencies
82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money
Plus500 is a FTSE 250 listed brokerage providing online trading services in CFDs, across 2,000+ securities and multiple asset classes.
Website URL: https://global-solution.io
Founded: 2020
Regulations: Not Regulated
Languages: English, German
Deposit Methods: Wire Transfer, E-Wallet, Debit Card, Credit Card
Minimum Deposit: $250
Free Demo Account: No
Number of Assets: 5,000+
Types of Assets: Digital Currencies, Commodities, Indices, Shares, Forex
Trading Accounts and Conditions
Global-Solution offers its customers 7 different types of trading accounts. They are:
- Basic: The deposit range for this account type is from $250 to $5,000. Traders are given access to more than 100 types of assets.
- Bronze: The deposit range for this account is from $5,001 to $15,000. Traders are given access to more than 100 types of assets.
- Silver: The deposit range for this account is from $15,001 to $50,000. Traders are given access to more than 300 types of assets.
- Gold: The deposit range for this account is from $50,001 to $150,000. Traders are given access to more than 500 types of assets.
- Platinum: The deposit range for this account is from $150,001 to $500,000. Traders are given access to more than 1,000 types of assets.
- Diamond: The deposit range for this account is from $500,000 to $1 million.
- Black: For this account, the minimum deposit to be made is $1 million. Traders are given access to more than 5,000 types of assets.
While the broker does not mention the trading conditions on their Account Types page, we were able to access their trading platform and get an idea about these conditions. The EURUSD spread stands at a very high 3 pips and the leverage is at 1:100.
Global-Solution – Advantages
We did not find anything positive about this trader that we would recommend Global-Solution to any of our readers.
Global-Solution – Disadvantages
Here are all the very serious issues we found because of which we would actively discourage traders from dealing with this broker:
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Regulation Issues
The first thing we need to ensure when reviewing a broker is whether it is operating legally or not. Well, this broker isn’t.
Global-Solution claims to be headquartered in the Commonwealth of Dominica and is owned and operated by a company called Ground Solutions Ltd. The broker claims that its registration number is 2020/IBC00053 and provides a post office box address.
The problem with forex brokers located in Dominica is that they are not regulated by the local regulator, the FSU (Financial Services Unit). This is because this authority does not have a regulatory framework in place to oversee forex brokerages. This lack of control makes brokers based in this jurisdiction a high-risk deal.
This is not the only issue. In its Regulatory Environment section, this broker claims to be regulated by the European Union’s MiFID (Markets in Financial Instruments Directive). However, this is not true at all. This broker does not have any license to operate from any European authority.
Furthermore, this broker has been flagged off by the UK’s FCA (Financial Conduct Authority) as a scam operation. Thus, trading with this broker would put your funds at risk.
82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money
Plus500 is a FTSE 250 listed brokerage providing online trading services in CFDs, across 2,000+ securities and multiple asset classes.
The company was created as a combined effort of financial professionals and experts in web-commerce with the goal of perfecting the online experience for retail traders.
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Poor Trading Platform
This broker’s lies don’t just stop at its regulation. Global-Solution claims to offer a world-class trading platform. However, what you really get is the shabby WebTrader software, a platform that is very popular with the not-so-legitimate brokerages in the market.
This platform is unreliable, with very few tools for trading and limited usability.
Another sign that a broker is not worth your time is the kind of trading platform it offers. Most brokers that offer above-board services and are genuine will make sure that they provide their customers with the best trading platforms – such as the MetaTrader 4 or the MetaTrader 5 software. These two platforms are the most popular in the world for a reason; you get to work with a range of excellent features such as Expert Advisors, market indicators, charting options, and a massive marketplace that offers you even more 3rd-party apps!
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High Spreads
The spreads offered by this broker are just too high – if we believe what they are offering on their WebTrader platform. The EURUSD cost of trade is 3 pips, which is just not viable. The industry standard for this currency pair ranges from 0.5 pips to 1.5 pips, so the 3 pips that this broker is charging is just ridiculously high. Thus, even if Global-Solution had been a legitimate broker, we would still not recommend them to our readers.
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High Leverage
The leverage that this broker offers is 1:100. While not as high as some other scam brokers, it is still extremely risky and illegal. This broker seems to be targeting traders in the EU, where the leverage that brokers can offer traders has been capped at 1:30. Other regulators such as the FCA and the ASIC (the Australian Securities and Investments Commission) have placed similar limits on how much leverage their brokers can offer. Canadian and American regulators have also done the same thing.
All of this means that Global-Solution’ 1:100 offer is illegal.
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High Withdrawal Fees
The withdrawal fees that Global-Solution charges are not standard, and neither are they affordable. The withdrawal fees you will be charged will depend on the payment method you opt for. So, if you make a wire transfer, it’s $50 for a minimum withdrawal of $250. If you use other payment options, then you need to pay $25 for a minimum withdrawal of $100, plus a $10 processing fee.
And to top it all off, if you try to withdraw your money before you reach the minimum required trading turnover amount, then you will be charged a 10% withdrawal fee! And that trading turnover figure is 200 – but what that 200 is, is not specified!
Conclusion
Global-Solution is a scammer that has been flagged off by one of the top regulators of the financial world – the FCA. It would be best to avoid this broker.
Global-Solution
Pros
- None
Cons
- Regulation Issues
- Poor Trading Platform
- High Spreads
- High Leverage
- High Withdrawal Fees
Do not trade with unregulated brokers that will steal your funds - try these regulated brokers:
82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money
Plus500 is a FTSE 250 listed brokerage providing online trading services in CFDs, across 2,000+ securities and multiple asset classes.
The company was created as a combined effort of financial professionals and experts in web-commerce with the goal of perfecting the online experience for retail traders.
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