GLX Information
GLX is a comprehensive forex financial services provider providing trading solutions and trading experiences for clients engaged in CDF investments with a maximum leverage of 1:1000. The broker also provides standard and Raw Spread accounts. The minimum spread is from 0.0 pips and the deposit is as little as $200. GLX is still risky due to its unregulated status and high leverage.
Pros and Cons
Is GLX Legit?
GLX is not regulated, even though it claims to be regulated by the Securities Exchange Regulator of Cambodia (SERC). However, an unregulated broker is not as safe as a regulated one.
What Can I Trade on GLX?
Traders can choose different investment directions because the broker provides CDFs on forex including 61 currency pairs, 25 indices, futures from the ICE Dollar Index and CBOE VlX Index, commodities that trade energy, agriculture, and metals, cryptocurrencies, and stocks.
Account Type
GLX offers two live account types, Standard account and our market-leading, Raw Spread account. Raw Spread Account with a commission charge of $7 per standard lot round turn shows the Raw inter-bank spread received from our liquidity providers. Standard Account commission is free but instead, markup is applied to the spread of 1 pip above the raw Inter-bank rate received from Liquidity providers. In addition, the demo accounts are predominantly used for familiarizing traders with the trading platform and for educational purposes only.
GLX Fees
The minimum spread is from 0.0. GLX offers Forex traders EUR/USD spread averaging 0.1 pips, some of the tightest spreads out of all Forex exchange brokers globally. GLX does not charge a commission on Standard Accounts, but on GLXs Raw Spread Account, GLX charges a commission of $3.5 per standard lot round turn.
Leverage
GLX offers flexible leverage options ranging from 1:1 to 1:1000. GLX allows trading the spot price for metals including Gold or Silver against the US Dollar or Euro and the metals Platinum or Palladium against the US Dollar as a currency pair on 1:1000 leverage.
Trading Platform
GLX cooperates with the authoritative MT4, as well as MT5 available in Web and Mobile to trade. MT5 not only provides various trading strategies but also implements EA systems.
Deposit and Withdrawal
GLX allows clients to open an account with as little as $200 or currency equivalent. GLX does not charge any additional fees for deposits or withdrawals. GLX does not accept payments from third parties. If the trading account holder is one of the parties on the Bank Account / Credit Card, payments from Joint Bank Accounts / Credit Cards are accepted. Traders can deposit and withdraw by VISA, MasterCard, Neteller, Bank transfer, Skrill, and UnionPay as well. Wire transfers normally take one to two business days. For international bank transfers, please allow up to three to five working days.
