GlobePay Brokers 2024
GlobePay is a digital wallet that allows day traders and other users to make fast payments to supported merchants, including online brokers. This wallet review will explore how traders can get started with the payment solution, with a guide to transaction times, transfer fees, and potential drawbacks. We have also compiled a list of the top trading brokers that accept GlobePay deposits.
Best GlobePay Brokers
These are the 4 highest rated brokers with GlobePay payments, based on our tests:
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1
4xCube
Ratings/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5
$100.01 Lots1:400FSC Cook IslandsForex, CFDs, metals, indices, cryptocurrenciesMT4, MT5Skrill, Neteller, Visa, Bitcoin Payments, Wire Transfer, Credit Card, Debit Card, Mastercard, Perfect Money, FasaPay, Swift, Ethereum Payments, GlobePayUSD, BRL -
2
MultiBank FX20% deposit bonus
Ratings/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5
$500.1 Lots1:500SCA, MAS, CySEC, ASIC, AUSTRAC, BaFin, FMA, FSC, CIMA, TFG, VFSCForex, CFDs, indices, shares, metals, commodities, cryptocurrenciesMultiBank-Plus, MT4, MT5, cTraderWire Transfer, Swift, Visa, Mastercard, Credit Card, Skrill, Neteller, Perfect Money, GlobePay -
3
Switch Markets100% Deposit Bonus
Ratings/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5
$500.01 Lots1:500ASICCFDs, Forex, Stocks, ETFs, Cryptos, Futures, CommoditiesMT4Perfect Money, FasaPay, Mastercard, UnionPay, Neteller, Debit Card, Skrill, Wire Transfer, GlobePayUSD, EUR, GBP, CAD, AUD, NZD, CHF, SGD -
4
IQ OptionRISK WARNING: YOUR CAPITAL MIGHT BE AT RISK
Ratings/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5
$100.001 Lots1:500CFD, Forex, Crypto, Stocks, Digital OptionsOwnSkrill, Yandex Money, QIWI, Wire Transfer, Alipay, Perfect Money, MoneyGram, Credit Card, Vietcombank Transfer, Volet, Maestro, Sofort, GlobePay, BoletoUSD, EUR, GBP, ZAR
Here is a summary of why we recommend these brokers:
- 4xCube - 4xCube is an online forex and CFD broker registered and licensed in the Cook Islands. Clients can trade on popular financial markets and choose between three accounts based on their capital and trading strategy.
- MultiBank FX - MultiBank FX is an established broker offering forex and CFD products since 2005. With 20,000+ instruments, plenty of local payment methods and 24/7 multilingual customer support, the broker is a popular choice among traders globally. New clients can also access a variety of bonus offers and access the hugely popular MT4 and MT5 trading platforms.
- Switch Markets - Switch Markets is a multi-asset CFD brokerage, regulated by ASIC and SVGFSA. The new brand offers trading on the MT4 and MT5 platforms and leverage up to 1:500. The broker boasts over 2000+ instruments, with some additional tools including copy trading services and free VPS hosting.
- IQ Option - IQ Option is a trusted broker with multi-asset trading on its user-friendly proprietary platform. The broker provides trading on forex, stocks, cryptos, indices, commodities and ETFs with competitive fees and a good suite of extra features and educational content. You can also open an account with just $10.
GlobePay Brokers Comparison
| Broker | Minimum Deposit | Instruments | Platforms | Leverage |
|---|---|---|---|---|
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$10 | Forex, CFDs, metals, indices, cryptocurrencies | MT4, MT5 | 1:400 |
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$50 | Forex, CFDs, indices, shares, metals, commodities, cryptocurrencies | MultiBank-Plus, MT4, MT5, cTrader | 1:500 |
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$50 | CFDs, Forex, Stocks, ETFs, Cryptos, Futures, Commodities | MT4 | 1:500 |
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$10 | CFD, Forex, Crypto, Stocks, Digital Options | Own | 1:500 |
4xCube
"4xCube is a great option for traders familiar with the MetaTrader suite and those interested in copy trading."
William Berg, Reviewer
4xCube Quick Facts
| Demo Account | Yes |
|---|---|
| Instruments | Forex, CFDs, metals, indices, cryptocurrencies |
| Regulator | FSC Cook Islands |
| Platforms | MT4, MT5 |
| Minimum Deposit | $10 |
| Minimum Trade | 0.01 Lots |
| Leverage | 1:400 |
| Account Currencies | USD, BRL |
Pros
- Wide selection of payment methods including bank cards
- Fast trade execution through liquidity providers
- Welcome bonuses and trading promotions
Cons
- US clients are not accepted
- The broker is not regulated by a trusted authority
- High fees for some payment methods
MultiBank FX
"MultiBank FX is a great option for active forex traders with 55 currency pairs, spreads from 0.0 pips and high leverage up to 1:500."
MultiBank FX Quick Facts
| Bonus Offer | 20% deposit bonus |
|---|---|
| Demo Account | Yes |
| Instruments | Forex, CFDs, indices, shares, metals, commodities, cryptocurrencies |
| Regulator | SCA, MAS, CySEC, ASIC, AUSTRAC, BaFin, FMA, FSC, CIMA, TFG, VFSC |
| Platforms | MultiBank-Plus, MT4, MT5, cTrader |
| Minimum Deposit | $50 |
| Minimum Trade | 0.1 Lots |
| Leverage | 1:500 |
Pros
- 24/7 multilingual customer support available across all accounts
- MAM, PAMM and FIX API access for high-volume or pro traders, plus EAs and VPS hosting for algorithmic trading
- Global presence with 10+ regulatory licenses, including ASIC (Australia) and MAS (Singapore)
Cons
- Average education and market research
- $5,000 minimum deposit required to access ECN spreads
- $60 monthly inactivity fee
Switch Markets
"Based on my tests, I think Switch Markets could be a good option for both new and experienced day traders, with accessible accounts, zero commissions and spreads from 0 pips. My main complaint is that the selection of 180+ products may be a little light for some traders."
Switch Markets Quick Facts
| Bonus Offer | 100% Deposit Bonus |
|---|---|
| Demo Account | Yes |
| Instruments | CFDs, Forex, Stocks, ETFs, Cryptos, Futures, Commodities |
| Regulator | ASIC |
| Platforms | MT4 |
| Minimum Deposit | $50 |
| Minimum Trade | 0.01 Lots |
| Leverage | 1:500 |
| Account Currencies | USD, EUR, GBP, CAD, AUD, NZD, CHF, SGD |
Pros
- Traders can access copy trading solutions via the MetaTrader Trading Signals tools and duplicate positions of experienced traders in real-time
- I found 14 accessible deposit options and 5 base currencies. The impressive average processing times of 1 minute and 2 seconds should also appeal to active traders
- I think the $50 minimum initial deposit for both account types is very competitive compared to some other brands
Cons
- Spreads are not the most competitive for Standard account holders in my opinion, averaging 1.5 pips on EUR/USD
- I'm a little concerned that the global entity is regulated offshore by the SVGFSA, a low-tier watchdog with very limited financial protection for clients
IQ Option
"IQ Option is a good broker for beginners with a slick platform and low minimum investment. New users can also open an account in three easy steps."
IQ Option Quick Facts
| Demo Account | Yes |
|---|---|
| Instruments | CFD, Forex, Crypto, Stocks, Digital Options |
| Platforms | Own |
| Minimum Deposit | $10 |
| Minimum Trade | 0.001 Lots |
| Leverage | 1:500 |
| Account Currencies | USD, EUR, GBP, ZAR |
Pros
- iOS & Android compatible app
- High payouts on binary options
- User-friendly platform for beginners
Cons
- No MetaTrader 4 integration
- €10 inactivity fee after 90 days
How Did We Choose The Best GlobePay Brokers?
To list the top GlobePay brokers, we:
- Searched our database on 500 online brokers, removing any that don’t support GlobePay
- Confirmed which brokers support GlobePay deposits and withdrawals for day trading
- Ranked them by their overall rating, blending 100+ data points with our hands-on findings
What Is GlobePay Wallet?
Established in India in 2011, GlobePay is an international payment service that allows users to transfer money online using debit and credit cards, much like other e-wallets, such as PayPal.
payment solution has gained popularity for many uses across the world, including in day trading, due to the speed at which transactions can be processed.
Like other e-wallets, the brand offers a convenient way to pay for goods and services online without having to enter card details and makes the process of digital payment seamless.
How To Create An Account
Before you begin trading with GlobePay, you will need to set up an account.
You can sign up for an account on the official website in a few minutes by entering your email address and coming up with a password and four-digit ‘master key’ for enhanced security. This will create a virtual wallet where you can link your bank cards, including Visa and Mastercard.
Money can now be transferred from your bank account to your e-wallet and vice versa. From your digital wallet, you can then make deposits to GlobePay brokers.
Fees
It is free to open a GlobePay account, but the company charges a 1% fee for payment processing if you are withdrawing in India, and a 7% fee if you are withdrawing outside the country. This is something to keep in mind if you are planning on depositing and withdrawing large amounts to your online trading account.
The brand also charges vendors for withdrawals and foreign exchange, including brokers that accept GlobePay deposits. This means that your brokerage might forward these fees to you when you make a payment with the transfer solution. Fortunately, several of the leading GlobePay brokers do not charge deposit fees, including Pocket Option, IQ Option and MultiBank FX.
Deposit & Withdrawal Speeds
Like most e-wallets the firm provides some of the fastest transaction times for depositing and withdrawing trading funds. It offers investors the opportunity to transfer funds instantly, which many day traders view as a necessity.
However, not all trading brokers that accept GlobePay facilitate instant deposits, even if the payment provider does. Some GlobePay brokers state that transactions can take as long as three working days. Fortunately, most of the reputed and popular trading brokers on the market do offer instant deposits via e-wallets, including 4XC and Alpari.
The company also allows traders to withdraw money from their virtual wallet to their bank account instantly, so once the withdrawal has been processed you will be able to access the money right away.
Security
The payment firm does offer a small page of safety advice, but their ‘Security’ section has little information about how they keep user funds safe and secure, or how they are regulated.
Despite this, GlobePay is offered by some leading regulated forex brokers such as FXTM. This is a good indication that the firm offers a decent level of security to its users.
Since trading is risky anyway, it is important that you keep your funds safe with well-regulated bodies. The best thing you can do is only trade with GlobePay brokers that are fully regulated by a trustworthy body such as the UK FCA.
How To Deposit Using GlobePay
To make a payment to your trading account, you need to find brokers that accept GlobePay deposits.
The process may then vary a little depending on the broker. For example, at FXTM you will need to:
- Navigate to the ‘My Money’ section in MyFXTM and select ‘Deposits’
- Select the account or wallet you wish to deposit funds into
- Enter the required details, including the deposit amount
- Follow the instructions on the next page to complete the transaction
Also, several brokers that accept GlobePay only allow withdrawals through this method that are equal to the amount that was deposited using the same payment method. This means that you will only be able to withdraw to your e-wallet the same amount as you deposited with it and not more.
Pros Of GlobePay For Day Trading
- Flexibility – One of the key benefits of GlobePay brokers is flexibility. The payment solution has both a web version and an app, so it can be used on any device – mobile, tablet, or desktop.
- Availability – The company is available in 190 countries and regions across the world. As a result, there is a decent list of trading brokers that accept GlobePay deposits.
- Speed – The payment solution allows users to benefit from instant deposits that do not slow down the trading process.
Cons Of GlobePay For Day Trading
- Withdrawal Fees – The fee for withdrawing money from GlobePay to your bank account outside of India is 3%, which is high in comparison to other e-wallets such as PayPal.
- Public Information – The official website lacks a lot of important security information, and there is little in-depth detail about how the company protects its user’s funds. There are also vital pages missing from the site such as the ‘Make Payment Now’ page which makes it difficult for users to get started with this transfer method and use it for trading. Overall the site is not informative and this may be a cause for concern among traders.
- Undetermined Security Level – The company does not provide much technical information about the security measures the firm applies to keep users’ funds secure. This is a concern for traders as the safety of funds is key. However, if you trade with trusted and regulated brokers that accept GlobePay deposits, this will help ensure that your funds are secure on the brokerage’s end.
Customer Service
If you are having issues with trading payments or have a question, you can consult the company’s help center, which answers many queries from the basics of how to set up an account to more complex issues. The search function will also help users easily find what they are looking for.
Alternatively, the top GlobePay brokers offer responsive live chat support that can help with deposit and withdrawal queries.
Is GlobePay Good For Day Trading?
Brokers that accept GlobePay deposits offer a fast payment solution that is widely accepted around the world. With that said, the payment method does not offer anything that really sets it apart from other e-wallets like PayPal, Neteller, and Skrill. Furthermore, the relatively high fees for withdrawing money outside of India make this method costly for traders in other countries.
See our list of the top GlobePay brokers to make a deposit and start trading.
FAQ
Can I Track Trading Deposits And Withdrawals On GlobePay?
Yes, you can track all of your transactions in real-time via the desktop login and the mobile application. If you run into deposit or withdrawal issues, you can also contact your broker’s customer support team.
How Do I Withdraw Trading Profits From GlobePay?
You can withdraw money using the desktop website or the mobile app by selecting the ‘withdraw’ function and choosing which bank card or account you would like to withdraw to. Note, GlobePay brokers may need to verify your identity before releasing trading profits to your e-wallet.
Do All Forex Brokers Accept GlobePay?
There are several forex brokers that accept GlobePay deposits, including MultiBank FX. You can check a broker’s accepted payment methods on their website. Alternatively, we have compiled a list of the best GlobePay brokers.
What Currencies Do GlobePay Brokers Support?
The company allows you to keep your balance in five popular currencies: USD, EUR, GPB, INR, and AED. Most leading brokers that accept GlobePay deposits do not charge currency conversion fees if making deposits in USD, EUR or GBP, in particular.
Is GlobePay A Legitimate Deposit Solution For Trading?
GlobePay is used by some well-known, regulated brokers, but information on its own security measures is limited. For this reason, we recommend choosing a payment method with a better security guarantee and tight regulation, such as PayPal or Neteller.