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Global GT vs FOREX.com - 2024 Comparison | FxScouts
AuthorAuthor: Björn MichelsUpdated: May 8, 2024

Last Updated On May 8, 2024

Björn Michels

Trading with a reputable online broker is a crucial factor for success in the international markets. At FxScouts, we help you find the broker that suits your trading needs.

Each year we spend thousands of hours testing brokers by opening accounts, testing their platforms, and rating them according to a set of over 200 metrics. We deposit real money with the brokers to ensure that the products and user experience they advertise are consistent with reality.

We have found that the best way for traders to choose a broker is to compare brokers side-by-side. The comparison tool below allows you to compare two brokers based on their ratings and features.

Select brokers to compare

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Broker Score
Min. Deposit
Regulation
Trading Desk Type
Trading Instruments
Forex Pairs
Crypto Pairs
Pros
Cons
Regulation
Trading Conditions
Trading Platforms
Deposit & Withdrawal
Education & Research
Assets Available
Customer Service
% Lose with this broker
Leverage
Spread
Hedging
Scalping
Account Types
Islamic Account
Trading Platforms
Funding Methods
Trading Commission
1110.503.93/ 5 USD 5FSCA Regulated Forex BrokersThe Seychelles Financial Services AuthoritySTPForex, Cryptocurrencies, Metals, Energies, Stock CFDs480
  • Low minimum deposit
  • ZAR Accounts
  • Limited platform choice
  • Wide spreads
Read Review 111003/ 5 111104/ 5 111104/ 5 11110.54.5/ 5 111115/ 5 111104/ 5 111104/ 5 01000:11.90 pips Standard MT5Visa, Mastercard, Bitcoin, SticPay, PerfectMoney, Fasapay, Skrill, Neteller, Bank TransferFees Included in Spread
11110.54.62/ 5 USD 100FCA Regulated BrokersASIC Regulated Forex BrokersMonetary Authority of SingaporeCySEC Regulated BrokersCayman Islands Monetary AuthorityMarket MakerCommodities, Cryptocurrencies, Stock CFDs, Forex, Indices, Metals918
  • Well regulated
  • Wide range of assets
  • Excellent education
  • High inactivity fees
  • Limited demo account
Read Review 111115/ 5 111115/ 5 11110.54.5/ 5 11110.54.5/ 5 111115/ 5 111104/ 5 111104/ 5 77%200:10.70 pips Commission, DMA Account, MT4, MT5, Raw Spread, Standard MT4, MT5, FOREX.com Web Trader, TradingViewBank Transfer, Maestro, Mastercard, Neteller, Paypal, Skrill, VisaFees Included in Spread

How do FOREX.com and Global GT stack up against each other?

The Radar Chart below highlights how the brokers stack up against each other across various metrics. The highest score a broker can receive in each area is 5.

FOREX.com

Global GT

At FxScouts, we help traders find the broker that suits their trading needs. In many cases, the best way to achieve this is to compare brokers side-by-side.

To compare FOREX.com and Global GT, we used the same factors we use when reviewing brokers: The trust and regulation of the broker, the trading platform, the costs and trading conditions, and the level of education and market analysis available at the broker.

Does FOREX.com or Global GT have a better trust and regulation rating?

Trust and regulation are some of the most important factors to consider when choosing a Forex broker. Trust in the Forex trading business is almost entirely founded upon regulation. We spend many hours evaluating the safety of each broker by delving into their fine print and confirming each one of their regulatory licences on the online registers. The more top-tier authorities a broker is regulated by, the higher its trust rating.

In our comparison, we found that FOREX.com holds four Tier 1 and no Tier 2 licences, and Global GT holds no Tier 1 and no Tier 2 licences.

 

Is FOREX.com financially regulated?

Yes FOREX.com was founded in 2001 and is regulated by ASIC, CIMA, CySEC, FCA and MAS.

 

Is Global GT financially regulated?

Yes Global GT was founded in 2020 and is regulated by FSCA and FSA-Seychelles.

 

Based on these findings, FOREX.com earned a higher trust rating than Global GT.

Does FOREX.com or Global GT have lower costs?

Another important aspect we consider when comparing brokers is the cost of trading. When evaluating trading costs, we always consider the minimum deposit required to open an account and the ongoing trading costs, including the spreads and commissions. When calculating trading costs, we measure the cost to trade one lot of EUR/USD using the broker’s account with the lowest minimum deposit. The cost includes both the spread and any commission charged. 

Not all brokers publish their trading costs, so we often open accounts and trade on their platforms to verify the spreads and commissions. Based on our reviews, we found that FOREX.com has overall lower trading costs than Global GT. 

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Broker
Trading Conditions
Base Currencies
EURUSD (Standard)
Trading Cost (Standard)
EURUSD (Best)
GBPUSD (Best)
USDJPY (Best)
Commission
Global GT
111104/ 5
USD, EUR, ZAR, BTC, ETH, USDT
1.40 pips
USD 14
1.90 pips
2.20 pips
1.60 pips
USD 0
Forex.com
111115/ 5
USD, EUR, CAD, JPY, CHF, AUD, GBP
0.70 pips
USD 7
0.70 pips
1.10 pips
1.40 pips
USD 0

 

Does FOREX.com or Global GT offer a better choice of trading platforms?

Traders want Forex brokers to offer them a choice of trading platforms, so we give brokers who offer multiple platforms higher ratings. Trading platforms we consider include MetaTrader4, MetaTrader5, cTrader and proprietary mobile and web-based platforms. 

In this case, FOREX.com offers support for MT4, MT5, FOREX.com Web Trader and TradingView and Global GT offers support for MT5. 

Do the brokers offer copy trading?

Copy trading is a great option for beginner traders who can’t trade full-time or lack experience with Forex trading. In this case both FOREX.com and Global GT offer copy trading.

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Broker
Platform Choice
Copy Trading
Platforms
Global GT
111104/ 5
Forex.com
11110.54.5/ 5
MT4, MT5, FOREX.com Web Trader, TradingView

 

Which broker offers a better choice of trading instruments?

A variety of CFD instruments – and a large range of CFDs for each instrument category allow traders more opportunities for profitable trading. The best brokers will have thousands of CFDs to trade, covering all these instrument categories. We found that FOREX.com offers a greater range and depth of instruments to trade than Global GT. FOREX.com offers 91 Forex pairs to trade and Global GT offers 48 Forex pairs to trade.

Toplist Forex Pairs

And what about Cryptocurrencies?

In this case, FOREX.com offers 8 cryptocurrencies while Global GT offers 0 cryptocurrencies. So if you want to trade cryptocurrencies, we advise trading with FOREX.com.

Which broker offers better deposit and withdrawal processes?

Although brokers may have reasonable trading fees, many traders are caught out by the high non-trading fees charged by some brokers, including deposits and withdrawals. Traders want to be able to deposit and withdraw funds quickly and cheaply. Most brokers have multiple funding methods with zero fees for making deposits, but some brokers make it more expensive and take longer to process withdrawals. 

We rate brokers more highly that process withdrawals within 24 hours by multiple withdrawal methods and without charging processing fees. We found that both FOREX.com and Global GT charges a withdrawal fee. Overall, Global GT has better deposit and withdrawal processes than FOREX.com. 

Which broker offers better educational support?

We often find that brokers offer very little in the way of educational materials, forcing traders to use other third-party sites or self-educate elsewhere. Beginner traders need well-structured, well-presented materials in multiple formats to get a good start at trading. More experienced traders also benefit from webinars led by experts in the field and advanced trading strategy sections with new trading ideas. 

FOREX.com and Global GT both have very good educational support. Both FOREX.com and Global GT offer educational support for more experienced traders.

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Broker
Beginner Course
Advanced Course
Well Structured Education
Education Quality
Webinars
Global GT
High
Forex.com
High

 

Which broker offers better market analysis materials?

To successfully predict the price movements of an instrument, traders will need access to frequent market research and analysis. We find that research and market analysis are always better when they are produced in-house and updated frequently. Third-party resources don’t show the same expertise in trading ideas, so we place a strong emphasis on frequent in-house updates. Some brokers also often offer interactive webinars where traders can learn from experts in the field. 

We found that FOREX.com offers better research analysis than Global GT and that both FOREX.com and Global GT offer frequent webinars.

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Broker
Economic Calendar
Autochartist
Trading Central
Trading View
Free VPS
Global GT
Forex.com

 

Our overall Verdict on FOREX.com

Founded in 2001, Forex.com is a well-regulated broker with low fees and a wide range of trading platforms.

It offers four account types, each with a minimum deposit requirement of 100 USD, two of which have trading costs included in the variable spreads, and two commission-based accounts. Spreads start at 1.0 pip (EUR/USD) on the spread-only accounts, and down to 0 pips (EUR/USD) on the commission-based accounts in exchange for a commission of 10 USD per lot traded.

Forex.com provides support for MT4, MT5, TradingView, and its own Forex.com trading platform and experienced traders will appreciate the range of trading tools on offer, including Trading Central,  SMART Signals, and subsidised VPS hosting.  

Education and market analysis are both excellent and experienced traders will appreciate the wide range of tradable assets, including over 91 currency pairs, 4500 share CFDs, commodities, indices, precious metals, and cryptocurrencies.

Overall, Forex.com ticks all the boxes for those looking for a wide range of assets to trade and a choice of trading platforms.

Our overall Verdict on Global GT

Global GT is an international CFD broker regulated by the FSCA and the FSA Seychelles. An STP broker with a wide range of CFDs, Global GT offers market execution and ZAR trading accounts. But, unlike most brokers in South Africa, Global GT only provides support for the MT5 platform and not the industry-standard MT4.  Global GT has a very low required minimum deposit of 5 USD on most account types, but its variable spreads are wider than its peers. 

Because Global GT is a new broker, it provides little in the way of education and market analysis materials, making it a poor choice for beginner traders.

Which broker has the highest overall rating?

FOREX.com has an overall rating of 4.62 and Global GT has an overall rating of 3.93. For more detail please read our reviews of FOREX.com and Global GT.

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