Below is a comprehensive analysis of Globtrex, operated by Coverdeal Holdings Limited, based on the provided criteria. The analysis draws from available information, including web sources, to evaluate the broker’s legitimacy, risks, and user considerations.

1. Online Complaint Information ¶

• Complaints Identified: Several online reviews and user comments highlight issues with Globtrex:
• Pushy Sales Tactics: Users have reported aggressive telemarketing, with sales representatives described as “rude” and “insistent,” unable to accept refusal.
• Withdrawal Issues: Complaints include difficulties withdrawing funds, with some users alleging the broker advised transferring funds to another platform (e.g., XBPrime), raising concerns about legitimacy.
• Platform Transition Concerns: In 2020, Globtrex announced a move to a new trading platform, requiring users to close open positions by February 28, 2020, or face automatic closure. This led to accusations of “stealing” from users with significant negative balances (e.g., $60,000).
• Mixed User Feedback: While some users praise the platform for its returns and free “specialist” assistance, others question the credibility of positive reviews, suggesting possible misinformation.
• Complaint Handling: Globtrex has a formal complaints policy, requiring clients to submit a complaint form to the Compliance Department. The company claims to investigate complaints within 10 business days, but non-trivial complaints require Senior Management approval, which may delay resolution.
• Assessment: The presence of withdrawal and sales-related complaints suggests potential operational issues. While some positive reviews exist, they may be biased or promotional, warranting caution.

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2. Risk Level Assessment ¶

• Trading Risks: Globtrex offers high-risk instruments like Contracts for Difference (CFDs) on forex, stocks, indices, bonds, commodities, and cryptocurrencies. The website discloses that 79% of retail investor accounts lose money trading CFDs, aligning with industry norms (73-89% loss rates).
• Leverage Risks: Maximum leverage is 1:200 for forex, which is average but risky. CySEC regulations limit leverage to 1:50 for retail traders unless they pass an appropriateness test, reducing some risk. However, high leverage can amplify losses.
• Market Risks: The risk disclaimer notes that CFD trading involves counterparty risk, illiquidity, and price volatility, especially during significant market events (e.g., macroeconomic announcements). Stop Loss orders may not execute at the desired price under volatile conditions.
• Insolvency Risk: The insolvency of Coverdeal Holdings or its banking partners could lead to position closures against client wishes. Funds are held with regulated banks (e.g., Bank of Cyprus, Česká spořitelna), but this does not eliminate risk.
• Assessment: Globtrex’s offerings carry high financial risk, typical of CFD brokers. Leverage and market volatility are significant concerns, mitigated slightly by regulatory oversight but not eliminated.

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3. Website Security Tools ¶

• SSL Encryption: Globtrex uses RapidSSL, a Secure Sockets Layer (SSL) certificate, to encrypt data and protect user information. This is a standard security measure for financial websites.
• Data Privacy: The website claims to store personal data confidentially, encrypted to prevent unauthorized access. Data is not shared with third parties except for regulatory or legal purposes.
• Safe Browsing Status: Some sources flag Globtrex as “unsafe” or “suspicious,” with Google Safe Browsing indicating potential risks. However, McAfee and Norton ConnectSafe assessments are inconclusive.
• Two-Factor Authentication (2FA): There is no explicit mention of 2FA for account access, which is a security gap compared to platforms like Globiance, which explicitly offer 2FA.
• Assessment: While SSL encryption is in place, the lack of 2FA and mixed safe browsing statuses raise concerns. Users should verify the website’s security independently before sharing sensitive information.

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4. WHOIS Lookup ¶

• Domain Information:
• Domain Name: globtrex.com
• Creation Date: June 30, 2008
• Registrar: CSL Computer Service Langenbach GmbH (joker.com)
• Registrant Organization: Arguento Limited, Cyprus
• Domain Status: clientTransferProhibited (indicates the domain is locked to prevent unauthorized transfers)
• Name Servers: ns1.regzone.cz, ns1.regzone.de, ns1.regzone.info
• Expiration Date: June 30, 2023 (as of last WHOIS update in February 2023; may have been renewed since).
• Transparency: The registrant is listed as Arguento Limited, not Coverdeal Holdings Limited, which introduces ambiguity. While this may reflect a holding structure, it could obscure ownership details, a common tactic in less transparent operations.
• Assessment: The domain is long-established, suggesting stability, but the registrant discrepancy and outdated WHOIS data (if not renewed) are red flags. Users should confirm the domain’s current status.

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5. IP and Hosting Analysis ¶

• Hosting Provider: The WHOIS data does not specify the hosting provider, but the name servers (regzone.cz, regzone.de, regzone.info) suggest hosting through ZONER, a Czech-based provider.
• Server Location: No specific server location is provided, but the registrar and name servers indicate European infrastructure, likely in the Czech Republic or Germany. This aligns with Globtrex’s operations in Cyprus and the Czech Republic.
• IP Reputation: No IP-specific complaints or blacklisting are noted in the provided data, but users should check tools like VirusTotal or Cisco Talos for real-time IP analysis.
• Assessment: The hosting setup appears legitimate, tied to a reputable European provider. However, the lack of precise server location data limits transparency. Users should verify IP security independently.

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6. Social Media Presence ¶

• Presence: Globtrex’s social media presence is not well-documented in the provided sources. The website does not prominently link to official social media accounts, which is unusual for a broker aiming to engage clients.
• User Reviews on Social Platforms: No specific mentions of Globtrex on platforms like Twitter/X, Reddit, or Trustpilot are provided. The absence of social media engagement could indicate limited marketing or a focus on direct sales.
• Assessment: The lack of a visible social media footprint is a concern, as legitimate brokers typically maintain active profiles for transparency and client interaction. Users should search for Globtrex on social platforms to gauge community sentiment.

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7. Red Flags and Potential Risk Indicators ¶

• Regulatory History: Coverdeal Holdings Limited renounced its Cyprus Investment Firm (CIF) license in November 2020. Clients had until November 15, 2020, to withdraw funds, or they needed to claim from the CySEC Investor Compensation Fund. This suggests operational closure or restructuring, a major red flag.
• CySEC Settlement: In 2018, Coverdeal Holdings settled with CySEC for €250,000 over possible violations of the Investment Services and Activities Law of 2007, indicating past compliance issues.
• Opaque Trading Conditions: Reviews note that trading conditions (e.g., spreads, fees) are not clearly disclosed on the website, with high spreads (e.g., 30 pips for EUR/USD) deterring some traders.
• B-Book Model: Globtrex operates as a market maker (b-book broker), meaning it takes the opposite side of client trades, creating a potential conflict of interest.
• Suspicious Safe Browsing Status: The “unsafe” or “suspicious” flags from some security tools suggest potential risks in visiting the site.
• Assessment: The license renunciation, past regulatory issues, opaque conditions, and b-book model are significant red flags. These factors increase the risk of dealing with Globtrex, especially post-2020.

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8. Website Content Analysis ¶

• Content Overview: The website offers trading in CFDs on forex, stocks, indices, bonds, commodities, and cryptocurrencies, with platforms like MetaTrader 4/5, SIRIX Web Trader, and Globtrex Trader. It provides educational resources (ebooks, videos, glossary) and tools like economic calendars and market news.
• Transparency Issues: Key trading conditions (e.g., spreads, fees) are not readily available, requiring users to dig deeper or contact support. The educational section was reportedly non-functional during a 2020 review.
• Risk Disclosures: The website includes a risk disclaimer, warning of CFD risks, leverage, and potential losses. It complies with MiFID II and CySEC requirements for transparency.
• Language Support: Available in English, Polish, Czech, Slovenian, Croatian, Hungarian, Italian, Portuguese, and Spanish, indicating a European focus.
• Assessment: The website provides standard broker content but lacks transparency in trading conditions. The risk disclosures are adequate, but non-functional sections and limited detail reduce trustworthiness.

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9. Regulatory Status ¶

• Past Regulation: Coverdeal Holdings Limited was regulated by the Cyprus Securities and Exchange Commission (CySEC) under license number 231/14 until November 2020, when it renounced its license.
• Current Status: Post-2020, there is no evidence that Globtrex or Coverdeal Holdings is regulated by CySEC or another authority. Operating without a license significantly increases risk, as there is no regulatory oversight or investor protection.
• Investor Compensation Fund: As a former CySEC-regulated firm, Coverdeal was part of the Investor Compensation Fund, which protected clients up to €20,000 in case of insolvency. This protection likely ended with the license renunciation.
• Assessment: The lack of current regulatory oversight is a critical concern. Users should avoid unregulated brokers due to the absence of legal recourse and investor protections.

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10. User Precautions ¶

• Due Diligence: Verify Globtrex’s current regulatory status directly with CySEC (www.cysec.gov.cy) or other authorities before engaging.
• Demo Account: Use the demo account to test the platform without financial risk. Be cautious, as demo conditions may not reflect live trading.
• Fund Security: Deposit only what you can afford to lose, given the high-risk nature of CFDs and the broker’s unregulated status.
• Withdrawal Testing: Start with small deposits and test withdrawals to confirm reliability before committing significant funds.
• Avoid Pressure: Resist aggressive sales tactics. Do not share sensitive information under pressure from telemarketers.
• Security Checks: Ensure the website uses HTTPS and verify its SSL certificate. Use antivirus software and avoid clicking suspicious links.
• Assessment: Users must exercise extreme caution, prioritizing small-scale testing and independent verification to mitigate risks.

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11. Potential Brand Confusion ¶

• Similar Brands:
• Globitex: A cryptocurrency exchange with an Electronic Money Institution (EMI) license from the Central Bank of Lithuania. It operates a Euro Wallet and GlobitexDEX, focusing on fiat-crypto integration.
• Globiance: A crypto exchange established in 2018, regulated with KYC/AML compliance, offering fiat and crypto trading.
• Confusion Risks: The names “Globtrex,” “Globitex,” and “Globiance” are similar, potentially leading to confusion. Globitex and Globiance focus on cryptocurrencies with clear regulatory status, while Globtrex is a CFD broker with no current regulation. Users may mistake Globtrex for these more reputable platforms.
• Domain Variations: WHOIS data lists numerous domain variations (e.g., globtrex.net, globtrex.org), which could be used for phishing or fraudulent sites, increasing confusion risks.
• Assessment: The similarity in names and lack of clear branding differentiation heighten the risk of users engaging with Globtrex under the false assumption it is related to regulated crypto platforms.

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12. Overall Assessment and Recommendations ¶

• Risk Level: High. The renunciation of the CySEC license, past regulatory violations, withdrawal complaints, and unregulated status post-2020 make Globtrex a risky choice. Aggressive sales tactics, opaque trading conditions, and potential brand confusion further elevate concerns.
• Legitimacy Concerns: While Globtrex was legitimate under CySEC regulation (2014–2020), its current unregulated status and operational red flags suggest it may not be trustworthy. The website’s functionality and security are adequate but insufficient to offset these risks.
• User Recommendations:

1. Avoid Engagement: Unless Globtrex provides verifiable proof of new regulation, users should avoid trading with this broker.
2. Research Alternatives: Consider regulated brokers with active CySEC, FCA, or ASIC licenses, ensuring transparency and investor protections.
3. Report Issues: If you’ve experienced issues with Globtrex, report to CySEC or local financial authorities and share reviews on platforms like Trustpilot.
4. Monitor Brand Confusion: Double-check the website URL (https://globtrex.com/) to avoid phishing sites or confusion with Globitex/Globiance.

• Final Note: The critical examination of Globtrex reveals a broker with significant operational and regulatory shortcomings. The establishment narrative (pre-2020 regulation) no longer applies, and users must prioritize regulated alternatives to safeguard their funds.

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If you need further details or assistance with specific aspects (e.g., checking current WHOIS data, analyzing a competitor broker), please let me know!