Glenmore Investments Review

Glenmore Investments Review by professional Forex trading experts the “” FX trading team, Finding out everything you need to know about the broker is in this Glenmore Investments Review.

Glenmore Investments Review

The website of Glenmore Investments provides no indications of different trading conditions, so we assumes that there is a single account type. It is commission free, with variable spread, and leverage up to 1:200.

Glenmore Investments Advanatges:

MT4 available

One of the few good things we can say about Glenmore Investments is that it offers its services via the MetaTrader 4 platform, like more than 80% of the brokers we are reviewing, Although launched more than 10 years ago, the MT4 is still preferred by most traders. It is easy to use, fast and reliable. Also, it has great charting and automated trading options, and if you are handy with code, you can create your own indicators and EAs.

Unfortunately, Glenmore Investments does not offer demo accounts, so we could not test its MT4. However, we managed to download it, the company providing it is Titanium Tech Solutions Ltd, while the broker claims it is operated and owned by GoldTech Media Services OÜ. This seems a bit odd.
Reasonable leverage ratios

The maximum leverage levels provided by Glenmore Investments is 1:200. Although most brokers provide higher ratios, we believe this will satisfy most traders. Besides, leverage levels higher than 1:200 can easily lead to heavy losses, should the market move against you

Glenmore Investments disdvantages:

– Not regulated and likely a scam

The company allegedly owning and operating this brokerage, GoldTech Media Services OÜ, an Estonian company, which is not regulated by any appropriate agency. It is only registered in Estonia. In addition, this company operates another brokerage brand, S2Trade. Judging by the plethora of negative user reviews on our website and in other forums and sites, it is most likely a scam. So most likely the situation is no different with Glenmore Investments.

– High spreads

According to the information on its website, Glenmore Investments’ typical spreads on EUR/USD amount to 2.4 pips, which is a very high value. Most brokers offer spreads within the range of 1.0 – 1.5 pips on EUR/USD, and some even lower. For example, FxPro’s spreads on cTrader accounts are averaged 0.3 pips and involve a commission of $4.5 per lot. This means that trading costs when using FxPro amount to 1.2 pips on EUR/USD per lot, which is twice lower than the cost of trading with Glenmore.
– No demo accounts

As we mentioned in the beginning, we downloaded Glenmore Investments’ MT4 but could not register a demo account and test it for the purposes of this review. This raises yet another red flag about the credibility of this broker.

– Comparatively high initial deposit

Although an initial investment of $250 is not that high, nor uncommon in the forex world, a number of reliable and licensed brokers require less. For example, one can open an account with FxPro by depositing $100.

– No micro lots

Now, this is not a major flaw, however trading in micro lots allows (novice) traders to put less at stake.
Although Glenmore Investments offers trading in forex and wide range of CFDs on the robust MT4 platform, claims it keeps clients’ funds in segregated accounts and that even provides Negative Balance Protection, among other things, we are not impressed with its offering.

First of all, its spreads are too high, and second (and more important), this broker does not appear reliable. It does not provide free demo accounts, and it is not regulated by the Estonian Financial Supervision Authority, but only registered in Estonia. Besides, it turns out that the company behind the brand, GoldTech Media Services OÜ, also operates another forex brokerage brand, which appears to be scam.

Even if you are based in Estonia, as it is part of the EU, you can also do business with well-regulated forex brokerages licensed in the UK or Cyprus. In the UK, for example, forex brokers are required to adhere to the highest standards – to maintain certain capital adequacy, to keep client funds in segregated accounts, tor report transactions on a regular basis, and much more. So, if you choose a broker licensed by the UK’s Financial Conduct Authority, you can trade with the ease of mind that your money is safe. All the more so, considering that deposits with brokers regulated in the UK are guaranteed up to £50,000 per client by the Financial Services Compensation Scheme (FSCS).

The Broker is not a safe forex broker, Instead you can use Plus500, XM, eToro, Fxpro or AvaTrade forex brokers.

Glenmore Investments Review Conclusion

For more information about currency trading brokers visit forex brokers comparison website, Tip foreign exchange trading experts please by share this article about Glenmore Investments Review.