Globitex Review- Is Globitex scam or legit?

Globitex is a UK-based cryptocurrency exchange that has been operating since May 2017. It offers to trade in Bitcoin, Ethereum, and its own GBX token. Read a complete Globitex review, and you’ll see that not all things are as good as they appear. We’re going to expose a scammer.

Website: https://globitex.com/

Address: Canada

Warning: Not recommended by review website like Scam Helpers

Regulated? Unregulated

Table of Contents

Regulated License

Globitex’s group company, NexPay, has obtained an EMI license from an EU regulator. This allows them to integrate with the SEPA payment system through Lithuania’s central bank and issue IBAN accounts to their clients.

The IBAN is most likely a virtual one, which reroutes incoming funds to the client’s real IBAN in a physical bank, allowing for virtual international transactions. EMIs can issue electronic money, offer payment services, and provide additional services like payment system management or commercial activity.

Trading Accounts

Globitex provides multiple account options with different verification levels and varying deposit and withdrawal limits. The Basic Account Level has low limits but allows for anonymity, while the Advanced Account Level enables up to EUR 15,000 in annual deposits and withdrawals. The Unlimited personal account has no limits, but additional requirements may apply.

Trading Conditions

Globitex currently does not offer leveraged trading, but there are regulated forex brokers that offer leveraged trading of CFDs with cryptocurrencies as an underlying asset for those who wish to speculate on cryptocurrency prices without buying the coins.

This passage outlines the minimum withdrawal requirements for different types of transactions. For SEPA, the minimum withdrawal amount is EUR 5, for international bank wire it is EUR 50, and for cryptocurrencies it is worth EUR 10. The minimum withdrawals in fiat are the same as the deposit requirements.

Globitex allows for anonymous trading with a Basic Account Level, but there are limits to annual deposits and withdrawals (EUR 2500 and EUR 1000 respectively). For trades above these limits, personal information and ID copies are required.

Globitex accepts clients from all over the world except for countries under international sanctions, such as North Korea, Iran, Iraq, Syria, Yemen, Afghanistan, Somalia, and South Sudan. However, clients from the USA are accepted.

Deposit and Withdrawal Methods

Globitex allows users to deposit both cryptocurrency and fiat currency on their platform. It appears that Globitex only accepts fiat payments through bank transfers, which may be slow and inconvenient. Additionally, international bank wires come with high fees charged by the banks.

Conclusion

It’s great to hear that you have found some positive aspects to Globitex, including their European EMI license and low fees but also there are several disadvantages of this platform. However, it seems that the limited deposit and withdrawal options for fiat currencies may be inconvenient for you. While the bank transfer is a secure method, it can also be slow and costly. Moreover, it might to be a scam broker or involved in scam activities.

Also, read GlintSignalsFx review to know about similar scams.