Forex trading sees a large community of South African traders. More and more users join every day inspired by the community. But, huge credit for that also goes to brokerage houses. That’s because several South African brokers are offering their services in the area as well as globally.
Globex360 is a similar brokerage company, helping forex traders in various regions, including South Africa. The real question is, what is the Globex360 minimum deposit in Rands? Let’s go through all the details in this article.
What is Globex360 Minimum Deposit in Rands: All You Should Know
- About Globex360
Globex360 is one of the recently-founded online brokerage houses, operating since 2017. It originates from Africa and offers services in several geographical locations of the continent. However, it is not restricted to Africa only. The broker has partners from different regions, such as Australia, Chile, Kenya, etc. Globex360 is registered with Companies and Intellectual Property in South Africa.
One of the most reputable organizations, the Financial Sector Conduct Authority (FSCA), is responsible for supervising Globex360. The broker follows the Financial Intelligence and Anti-Money Laundering Act 2002, Prevention of Terrorism Act 2002, and Prevention of Corruption Act 2002.
With Globex 360, you can trade in various instruments, including forex, CFDs, precious metals, indices, cryptocurrencies, and energy.
- Globex360 Minimum Deposit in Rands
Now comes the central part of this discussion; Globex360 minimum deposit in Rands. The initial amount of the broker varies according to the account types. The lowest one starts at $100, which is equal to 1,512.29 South African Rand. While this may seem a bit high, it is still quite competitive considering the prices of other brokers. This is the minimum deposit for the Basic Account, which involves trading with no commission.
On the other hand, we have the Standard account. It is aimed at experienced and intermediated traders looking to upgrade their basic accounts. The minimum deposit in Rands for this account is 7,557.27, equivalent to 500 USD.
The last one is the PRO account. As the name suggests, it is for professional and experienced forex traders. That’s because it offers the tightest spreads. Plus, it includes a commission of $5 per lot. The minimum deposit amount for this account is 5000 USD or 75,610.75 South African Rand.
If you are confused about which account type to choose, you should consider your experience first. The broker allows traders to open the demo account without any initial deposit. You can learn more about conditions by trading with virtual funds in this account.
- Globex360 Minimum Deposit Methods and Currencies
Although we have briefly covered Globex360 minimum deposit in Rands, you can do it in several other currencies. These include USD, EUR, and MMK.
Plus, you can choose from various deposit & withdrawal methods, such as Visa, Mastercard, Instant EFT, and Bank transfer.
The Globex360 minimum deposit in Rands can be accessible for new and advanced traders. It is affordable and comes with easy methods. Also, the process of the deposit is quite simple and involves instructions.