Global TradeATF has been a long-term player in the trading industry. It offers traders a range of instruments to trade with and flexible account types for traders of different levels.
However, in 2021, the FSCA released a warning against the broker, claiming it was providing unauthorized financial advice.
Below, we discuss and review Global TradeATF, its key features, recent news, and whether it’s safe to trade with.
What is Global TradeATF?
Global TradeATF is an online forex and Contract for Difference (CFD) broker. It offers trading forex pairs, stocks, cryptocurrencies, commodities, and indices.
The broker highlights its easy-to-use platform, which was designed to be intuitive for beginner traders and enhanced for experienced traders with professional tools and resources.
Established in 2013, Global TradeATF is owned and operated by Bayline Trading Ltd, a company based in Belize.
Where is Global TradeATF regulated?
As mentioned, Global TradeATF is operated by Bayline Trading Ltd and is regulated by the International Financial Services Commission (IFSC) in Belize.
While being regulated establishes legitimacy, it’s important to note that the IFSC is not considered a top-tier regulator.
The IFSC in Belize is a popular jurisdiction for offshore brokers. While it does provide a regulatory framework, it is generally considered less stringent than top-tier regulators.
Read more: List of Foreign Regulatory Agencies Worldwide
Top-tier regulators are recognized as those from well-established financial centers with stringent regulatory standards, such as the Financial Conduct Authority (FCA) in the United Kingdom, the Securities and Exchange Commission (SEC) in the United States of America, and the Financial Services Agency (FSA) in Japan.
Meanwhile, Bayline Global World Ltd, a subsidiary of Bayline Trading Ltd, acts as the payment agent for Bayline Trading and Global TradeATF. It is registered in the United Kingdom with Company No. SC517838. However, this registration applies only to Bayline Global World Ltd as a payment processor, not as a broker.
The company operates globally but is not registered by any other financial regulator in other jurisdictions.
Is Global TradeATF regulated by the Financial Sector Conduct Authority in South Africa?
No. The FSCA does not regulate the broker Global TradeATF. Likewise, South African traders are advised to exercise caution when conducting business with this broker or consider another broker regulated in SA.
While trading with brokers not regulated in SA is essentially allowed, it also means that an overseas regulator will address any claim a trader makes against the broker, and not in South Africa.
Global TradeATF Features
Now that we’ve established Global TradeATF security and regulations, we can take a look at the platform features.
Available trading platforms
Global TradeATF provides access to the popular MetaTrader (MT4) trading platform.
The MT4 is well-known for its user-friendly interface, advanced charting tools, technical indicators, and full customizability.
The MT4 platform also supports automated trading through Expert Advisors (EAs) and is available on all devices.
Global TradeATF is yet to develop its trading platform. However, MT4 is considered a classic and functions efficiently.
Account Types and Minimum Deposit
Global TradeATF offers several account types, each targeting different trading expertise.
Silver Account
The Silver Account is best suited for beginners. The Minimum Deposit for this is $250 and provides full access to the MT4.
Meanwhile, the spreads start at 0.07 pips and offers up to 1:500 maximum leverage.
Traders with the Silver Account can access forex, stocks, cryptocurrencies, commodities, and indices.
Gold Account
The Gold Account is tailored for more experienced traders and has additional features and benefits.
To open a Gold Account, you must deposit a minimum of $5,000, and it offers tighter spreads starting from 0.05 pips.
The available leverage is similar to the Silver Account type, going up to 1:500 leverage.
Traders with this account also have access to the MT4 and can trade the same instruments.
An added feature for Gold Account holders is access to a dedicated account manager that assists them with their trading needs and provides personalized assistance.
Global TradeATF charges 0% commission on trades for this account.
Platinum Account
For professional traders, the Platinum Account offers the most comprehensive set of tools and services.
The minimum deposit required to open a Platinum Account is $25,000.
While on the higher deposit tier, this account type offers a tighter spread starting from 0.03 pips, a leverage of 1:500, and a 0% commission on trades.
Account holders also have access to a dedicated account manager and free Virtual Private Server (VPS) services for protected trading.
Withdrawal Options
Global TradeATF supports multiple withdrawal options such as bank transfers, debit cards, credit cards and popular e-wallets.
The withdrawal process is pretty straightforward but often takes a few business days.
Later, we’ll discuss other traders’ experiences with the withdrawal process further.
Customer Support
Global TradeATF offers customer support through live chat, email, and phone. According to the broker, the support team is available 24/5 to answer trader queries and issues.
However, the broker does not have a third-party Dispute Resolution Service, and disputes are reported to be resolved very slowly.
Educational Resources
Global TradeATF provides various educational resources to help traders improve their skills and knowledge.
These include e-books, articles, video tutorials, webinars, and courses. The educational materials cover various topics, from basic trading concepts to advanced strategies.
However, some learning materials may be restricted based on Account Type.
Global TradeATF Reviews Online
Global TradeATF has received mixed reviews on its performance.
A few traders have praised the platform for its helpful customer support and real-time execution.
However, other traders have also reported negative reviews regarding withdrawal difficulties, aggressive tactics to get users to deposit more money, and accounts being closed without explanation.
Delayed withdrawals
Some users have reported that they could not withdraw their profits, even after several calls to customer service.
One disappointed trader even said that “you can forget about withdrawal, it doesn’t exist with ATF trade.”
Moreover, according to other users, their instructions for withdrawals were ignored. For instance, a user from Australia informed their account manager to close their account. However, after this call, the trader was no longer able to contact their account manager and access their account.
Aggressive tactics
A number of traders have also reported that they were “close to being harassed” by aggressing account managers.
According to this complaint from a trader from South Africa, they were contacted by an aggressive account manager named Royston.
According to the trader, Royston demanded that the trader deposit more money. Moreover, Royston made them feel guilty for not trusting TradeATF with money.
The trader eventually lost R450000 and has since asked for professional assistance to recover his lost funds.
Consistent stop-loss failure
A common complaint from users trading with Global TradeATF is that their stop-loss orders are not executed.
For instance, a trader placed a stop loss order for R2000. However, the order was not executed even when it met the required conditions.
Reviews from other traders suggest that many had a negative experience with Global TradeATF, particularly with order execution and withdrawals.
FSCA warns the public about Global TradeATF
On July 21, 2021, the Financial Sector Conduct Authority (FSCA) released a public warning against the Global TradeATF.
As it turns out, Global TradeATF was conducting business in South Africa without the proper licenses and authorization.
According to the press release, “Global TradeATF provides foreign exchange (forex) trading platforms for clients to trade in Contracts for Difference (CFDs). The FSCA would like to confirm that Global TradeATF…is not authorized by the FSCA as a financial service provider (FSP).”
Read the full FSCA press release below.
UPDATE: As of the last update, the Global TradeATF is shut down and no longer conducts new or existing business.
Is Global TradeATF safe to trade with?
While Global TradeATF is regulated by the IFSC in Belize, it faced regulatory issues in 2021 that eventually led to its closure.
The Financial Sector Conduct Authority (FSCA) of South Africa issued a warning against the broker for providing unauthorized financial services to South African traders and investors.
As traders are faced with different degrees of information, it is essential that traders exercise vigilance and thoroughness when choosing a broker.
Here are a few tips to ensure that a chosen broker is trustworthy so traders can protect their investments.
- Verify the broker’s license number through their regulator’s official website.
- Study FSCA legal and regulatory frameworks.
- Traders should familiarize themselves with the regulatory frameworks of other authorities.
- Double-check fee structures and hidden charges, if there are any.
- Check other verified traders’ reviews of Global TradeATF online. Make sure that the review platform is legit and that the traders giving the review are verified! Some platforms have manufactured reviews.
These steps allow traders to protect their investments and make better, informed decisions.
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