Global Markets Association Review
Are you thinking about starting a career in trading? Given that it is a profitable venture, you are not the only one who is considering of making this switch. A decade ago, becoming a trader was easier said than done as people had to go out and find a broker to begin their journey. It was a time consuming and drawn out process, something that wasn’t possible for everyone. Luckily, things are different now as technology has advanced and internet is available everywhere. Today, when you want to trade in the financial markets, all you have to do is go online, search for a broker, choose one, open a trading account and you are good to go.
Nonetheless, this doesn’t mean that online traders don’t have to face any challenge. The first and foremost challenge they encounter is choosing a broker. The number of brokers in the market has also increased tenfold over the years as online trading has become widespread. Some of these brokers are truly exceptional, but the problem is that there could be some difficult brokers as well. Just like no two traders are the same, no two brokers can offer you the same services. The real challenge for traders is trying to figure out which broker can work out for them.
You have to exercise caution when you are exploring the different choices in the market and do your homework to ensure you find a good fit for you. Amongst the many brokers in the trading space, one that you will find is Global Markets Association. The Global Consulting Group was established by BI Level World LTD and is based in the Marshall Islands. It was established in 2014 by a group of former traders and is offering its trading services globally. But, before you choose this broker for your trading needs, you have to understand its ins and outs.
Global Markets Association at a Glance
|Broker||Global Markets Association|
|Trading Accounts||Demo account, Real account and Islamic account|
|Assets Coverage||Forex, Stocks, Indices, Commodities, Rate and Bonds, Cryptocurrencies|
|Trading Tools||Charting and Analysis, Order types, Economic calendar|
|Education and Training||Yes|
|Customer Support||24/7 via Phone and Email|
|Security Policy||Know Your Customer (KYC) and Anti-Money Laundering (AML) policies|
|Parent Company||BI Level World LTD|
Let’s take a look at Global Markets Association’s offerings before making a decision about this broker:
- Range of Trading Products
Most traders are looking for a broker that can help them trade multiple trading instruments from a single platform. This is due to the fact that anyone with even the most basic knowledge of trading is aware that diversification is key to minimizing your losses and earning maximum profits. Registering with different brokers for trading different assets is nothing less than a hassle. It is best to look for a broker that offers you a range of trading products in one place. At Global Markets Association, traders are given the opportunity of investing in more than 5,000 trading instruments spread across different financial markets. You can start your investment with the most liquid market in the world i.e. the forex market where currency pairs like EUR/USD, GBP/USD, AUD/CHF and more are available.
There are a number of commodities like corn, coffee, gold, silver, natural gas and crude oil that you can trade at Global Markets Association. The broker also enables its clients to trade in the stock market and buy and sell shares of companies like Tesla, Uber, Amazon and Facebook. There are various indices available, such as S&P 500 and NASDAQ. Rates and bonds like Euro Bund and T-Bond can also be traded. But, the most recent addition to the broker’s offerings is that of cryptocurrencies like Bitcoin, Ethereum and Litecoin that can also be traded.
- Choice of Trading Platforms
One of the key elements that determine your success and your experience in the trading world is the trading platform you use. A good and functional trading platform makes it easy to execute trades and helps you make smart decisions through its tools. Likewise, a subpar trading platform can hinder your trading activity and affect your decision making. Therefore, you need to ensure that the broker you select is fully capable of offering you a trading platform that suits your trading style.
When you opt for Global Markets Association, you will have several trading platforms to choose from. The most important thing to know is that this broker has added the MT4 suite of trading platforms to its offerings. The MetaTrader 4 is the world’s most powerful and renowned trading platform in the world and is equipped with advanced trading tools and features. You can use download the desktop MT4 client, which is compatible with both MacOS and Windows. If you don’t want to go through the hassle of downloading a trading platform, the MT4 WebTrader is also available.
This particular version can be accessed through the web browser and is just as powerful and innovative. You can use it on any device having a browser, which makes it a more flexible option. Apart from these, you can also opt for the MT4 mobile apps that are available at Global Markets Association for both iOS and Android devices. You can use these apps when you are on the move and enjoy full control over your trading account at any time.
- Different Account Options
As mentioned earlier, no two traders are the same, which means their requirements and needs are all going to vary. Brokers are obviously familiar with this and so, it is the norm for them to offer several account options to their clients. This is to give them room to choose an account that is well-suited to their preferences. If you want to use Global Markets Association’s services, you will also have access to similar options and it is up to you to decide which one is better for you. One account type that most traders enjoy is the demo account.
This particular account is like a practice account, which gives traders access to virtual currency that can be used for trading in a simulated version of the trading market. It can be incredibly useful for newbie traders because they will be able to understand how the real market would look like and can practice their moves. It also gives them time to adjust to the trading platform, learning how to use it, without putting their hard-earned money at risk. Even expert traders will find this option handy because they can try out different trading strategies in order to decide which one is the most profitable.
When you are done with the demo account, Global Markets Association gives you the opportunity to open a Real account. It is exactly what it sounds like; this account is real i.e. uses real money for making trades. You can trade any of the 5,000 trading instruments that this broker is offering through its platforms. It provides you with a live trading environment, along with dedicated account managers for providing you guidance on how to make trades and when to make your decisions. Maximum leverage of 1:500 is available and the minimum deposit required to open this account is $250.
The last account option at Global Markets Association is that of an Islamic account. This account is very similar to the Real account, but the only difference is that it doesn’t involve any interest transactions. It is due to the fact that this account has been created for Muslim traders and as per Sharia rules, they cannot indulge in any transactions that involve interest in any form. No swap is applicable under this account, but all other facilities are available, such as hedging positions, using leverage, trading all instruments and making deposits and withdrawals.
- Security and Privacy Policies
The online world is an open one and the internet is a hotbed for cyberattacks. Thus, people are very conscious when they are sharing their information online or when they are using any money. When you decide to trade with an online broker, you will have to do both. You will need to share your personal information with them to make an account and then deposit your funds to start trading. So, how do you assuage your fears about data breaches and other risks? You choose a broker with strong security and privacy policies in place for your safety.
At Global Markets Association, you will come to know that the broker has implemented the renowned Know Your Customer and Anti-Money Laundering policies i.e. the KYC and AML policies. These are required as per international standards and are meant to verify the identity of anyone who signs up with the broker. This can prevent cybercriminals from trying to gain access to the brokerage in order to steal information or money. Under these policies, traders are asked to submit some important documentations. First, proof of identity (POI) is required, which is provided in the form of a government-issued ID. Your passport, national ID card or your driver’s license will suffice.
The second stage is Proof of Residence (POR), which can be given in the form of a utility bill (water, gas or electricity), a credit card bill or a bank statement. (They should not be older than three months). Keeping up with international regulations, Global Markets Association has also opted for customer account segregation. This means that the traders’ accounts are kept separate from the broker’s own funds to ensure that the former are only used for trading activities. In the event of the broker going bankrupt, clients will receive their funds easily.
To protect the privacy of its clients, Global Markets Association uses encryption technology, which is designed to encrypt every piece of data that’s entered on their trading platform. All communications between the traders and the broker’s network are also encrypted for adding another layer of security.
- Depositing and Withdrawing Funds
You have to have some money in order to start trading. Once you open an account with a broker, you should deposit funds and then start opening positions. But, how will you add your money? For this, you need to check out what payment solutions your chosen broker is offering. Global Markets Association has also incorporated multiple options for their clients to use for making deposits and also for withdrawing their earnings later on. They have given their clients the freedom to choose a method, depending on their convenience.
Traders can go with bank wire transfer, which means connecting their bank account directly for depositing and withdrawing money. As per KYC and AML rules, the account should only be in your name, as third-party accounts are not supported. Debit and credit cards, including Visa and MasterCard, can also be used by those who prefer a quicker method for depositing and withdrawing their funds. Other than these, Global Markets Association has also added some online payment options.
- Availability of Customer Support
When you are using a broker’s trading platform, you could encounter a technical issue or have questions about their policies and procedures. No matter what problem you encounter, you would obviously want to resolve it straight away so you can go back to trading. But, who will help you? This is where customer support plays an important role and you should ensure that the broker offers you this feature. Global Markets Association does have support options available on its website.
They have provided traders with a phone number that can be used and an email address where you can send your queries and complaints. They are available 24/7 for providing necessary assistance, but the lack of live chat can make things a bit uncomfortable. Even though availability is 24/7, it does take time to get in touch with an agent.
Global Markets Association offers its website in four languages i.e. English, Russian, Polish and German, which allows it to cater to traders globally. The features mentioned above indicate that they have made an effort to provide their clients with a well-rounded trading environment for entering the trading world to make profits.