Global Stock365 – Are They Safe?
Stop! It’s a Scam! Your money is not safe if you are trading with this unregulated, off-shore broker.
Global Stock365 - DO NOT TRADE WITH THIS PROVIDER
2.4/10
$100
Minimum Depositupdated 2023
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://globalstock365.com
Founded: 2022
Regulations: Not Regulated
Languages: English
Deposit Methods: $100
Minimum Deposit: Unknown
Free Demo Account: No
Number of Assets: N/A
Types of Assets: Forex, Indices, Commodities, Stocks, Cryptocurrency
Trading Accounts and Conditions
Global Stock365 offers their clients the following types of trading accounts:
- Green Account: The minimum deposit is $5,000. Spreads range from 2.5 pips to 3 pips. Leverage is 1:200. You get at 25% Margin loan. You can upgrade to Premium after a 25 million turnover.
- Premium Account: The minimum deposit is $15,000. Spreads range from 2 pips to 2.5 pips. Leverage is 1:200. You get an up to 35% Margin loan. You can upgrade to Platinum after a 75 million turnover.
- Platinum Account: The minimum deposit is $50,000. Spreads range from 1.5 pips to 2 pips. Leverage is at 1:200. You get an up to 50% Margin loan. You can upgrade to Executive after a 100 million turnover.
- Executive Account: The minimum deposit is $100,000. Spreads range from 1 pip to 1.5 pips. The leverage is 1:300. You get an up to 75% Margin loan. You can upgrade to Presidential after a 150 million turnover.
- Presidential Account: The minimum deposit is $250,000. Spreads range from 0.5 pips to 1 pip. The leverage is 1:400. You get an up to 100% Margin loan. You get special tailored benefits for specific turnover milestones.
Commissions and fees are not specified.
Global Stock365 – Advantages
There are no advantages to trading with Global Stock365.
Global Stock365 – Disadvantages
Given below are all the red flags that tell is the Global Stock365 is a scammer:
-
Unregulated and Anonymous
The first red flag that tells us that Global Stock365 is not to be trusted is their anonymity and lack of regulation. This broker does not provide us with any corporate information.
We checked their website thoroughly and here is the information that we were able to glean – mostly from their legal documents.
The name of the company seems to be Globalstock365 Ltd, because the broker states that all clearing and billing services are done by this entity.
Next, the broker claims that they operate in accordance with international financial and money laundering laws – according to the MiFID directive. MiFID – Markets in Financial Instruments Directive – is a regulation or law passed by the European Union to increase transparency across all EU financial markets. It does not provide any license to any broker to operate in the EU. A broker needs to get authorization to operate from one of the EU member countries.
Thus, following the laws of MiFID does not mean that a broker is regulated. The interesting thing is that by stating that they follow the regulations set in place by the EU, Global Stock365 implies that they are located somewhere in the EU.
However, implication is not enough. A regulated broker will provide all details about their company, their location, their regulation information and how to contact them. With Global Stock365, we do not know where they are located. There is no regulation details. And we cannot contact them except via the Contact Us form on their website.
All of this tells us that we are dealing with an anonymous and unregulated scammer.
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.
-
Issues with Trading Platform
The WebTrader and AppTrader platforms that this broker offers are supposedly next-gen trading platforms. Global Stock365 states that these platforms allow easy and fast market access, precision trading as well as super-fast execution.
We registered for an account with this broker so that we could check their trading platform or platforms for ourselves to validate or refute their claims. After registering, we found out that this broker only offers a single platform, one that is web-based and quite rudimentary. The only thing positive we could say about this platform is that it is easy to use – because it is so basic! There are no additional features such as market analysis tools, calendars, third-party apps, automatic trading bots and so on. All you can do at best on this platform is buy and sell a few assets.
The lack of a good platform is another sign that a broker is out to scam traders.
-
Issues with Trading Conditions
Another sign that a broker is a scammer is when they offer unfair or poor trading conditions – such as those offered by Global Stock365.
First, their minimum deposit requirement. When you check their account registration information, then you need to deposit only $100. However, on their Account Types page, the minimum deposit requirement is $5,000. There is a huge gap between the two pieces of information.
Next, the spreads offered by the broker. On their Account Types page, the broker states the spreads start from 2.5 pips to 3 pips. However, one their trading platform, the spreads are set from 1.2 pips onwards for the EURUSD, GBPUSD and USDJPY pairs.
The leverage they offer is 1:400. But on their trading platform it is 1:200. Either way, it is too high, and if they operate in the EU (which is what the broker seems to imply), then it is also illegal.
All the information is contradictory, and this lack of consistency is another signal that Global Stock365 cannot be trusted.
-
Issues with Payments
On their website, the broker provides us with multiple payment options: Bank Wire, Credit Card, PayPal, Skrill, Neteller, Cryptocurrencies. However, in their Terms and Conditions, the broker states that there are two types of payment methods available – Credit Cards and Bank Wire.
And when we checked their payments section, we found out that there was no way to withdraw our funds! We were given a message that the broker would contact us and inform us about how we can withdraw our funds. And, of course, this broker has not provided any information about their withdrawal policy.
All of these are signs that we are dealing with a scammer.
Conclusion
Global Stock365 is not safe – this broker is a scammer.
Global Stock365
Pros
- None
Cons
- Unregulated and Anonymous
- Issues with Trading Platform
- Issues with Trading Conditions
- Issues with Payments
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.
eToro is a multi-asset platform which offers CFD and non CFD products. 74% 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.