Cofglobol is a forex broker established in the United States in 2024, primarily offering investors trading services in financial products such as forex, commodities, indices, futures, and cryptocurrencies. This broker adopts a standard account type and provides services to users through the ST5 trading platform. Its features include offering a maximum leverage of 1:500, and the overall website design and content closely mimic IC Markets Global.
Corporate Background:
Cofglobol is a forex broker registered in the United States in 2024, offering trading services in forex and other financial derivatives to global clients. The broker's official domain was registered on January 8, 2024, indicating that it is a relatively new enterprise.
Importantly, Cofglobol is not regulated by any financial regulatory authority. In the financial services industry, a regulated status is a key factor in assessing a broker's reputation and reliability. Regulatory authorities are generally responsible for ensuring that brokers comply with industry standards and protect the interests of investors. Therefore, potential clients may need to pay extra attention to Cofglobol's unregulated status before considering opening an account, as this could mean higher risk. Clients should carefully evaluate the potential pros and cons of working with an unregulated broker, considering that without a regulatory body as a safety net, the security of their funds and the fairness of transactions might not be guaranteed.
Trading Instruments:
Cofglobol offers a diversified range of financial derivative trading services, covering forex, commodities, indices, futures, and cryptocurrencies, providing 24/7 trading opportunities to global traders. Below are the main trading instruments offered by Cofglobol:
Forex Trading: Cofglobol is committed to providing a wide range of forex trading options, covering 61 currency pairs, including both major and minor currencies. Traders can enjoy spreads starting from 0.0 pips and leverage of up to 1:500.
Indices Trading: Cofglobol offers trading in 25 major global indices, commission-free, with leverage up to 1:200. Through the company's advanced ST5 trading platform, traders can participate in the global indices market.
Commodities Trading: Cofglobol offers traders a choice of over 22 major commodities, including energy, agricultural products, and metals. Traders can opt for spot or futures contracts, with leverage of up to 1:500.
Cryptocurrency Trading: Cofglobol offers flexible trading opportunities in the cryptocurrency market, supporting round-the-clock trading. Traders can use leverage of up to 1:500 for long and short positions, covering the most popular 10 cryptocurrencies in the market.
Futures Trading: Cofglobol offers trading in four major futures commodities, commission-free, with leverage up to 1:200.
Account Types:
Cofglobol offers a relatively simple account setup, with only the Standard Account available. Cofglobol's Standard Account is designed for forex trading, offering raw pricing and commission-free trading, with support for fast order execution. This account type offers leverage of up to 1:500, utilizing MetaTrader 5 (MT5) as the trading platform.
Trading Platform:
Cofglobol's ST5 platform is an in-house developed trading platform, aiming to provide investors with trading services in various financial products, including forex, stocks, indices, bonds, cryptocurrencies, and commodities. The platform supports downloading on various devices, including iPhone/iPad and Android, to meet the needs of different users. The ST5 platform emphasizes user experience by integrating a variety of trading tools and resources.
However, using an in-house trading platform also carries potential risks. Investors using an in-house platform, such as ST5, may face technical risks (system failure, instability affecting trade execution), security risks (data protection needs strengthening, counteracting potential threats), high maintenance costs (maintaining technical leadership, adapting to market changes requires investment), and compliance challenges. Investors should be aware of these risks when choosing, carefully weigh them, and make more comprehensive investment decisions.
Deposit and Withdrawal Methods:
Cofglobol offers its clients a variety of funding methods, supporting 10 different base currencies, covering more than 15 deposit options. These options include various international and regional-specific currencies, such as the Vietnamese Dong (VND), Philippine Peso (PHP), Malaysian Ringgit (MYR), UAE Dirham (AED), Japanese Yen (JPY), Chinese Yuan (CNY), Norwegian Krone (NOK), Icelandic Krona (ISK), Swedish Krona (SEK), and Swiss Franc (CHF). Customers can make deposits instantly and free of charge through various methods, including global services like OTC365.
As for withdrawals, Cofglobol's withdrawal timing and arrival times vary depending on the different withdrawal methods. Credit and debit card withdrawals typically are not charged a fee, and funds may take 3-5 business days to reach the card after processing. However, credit card withdrawal options are not supported in all countries, and users need to confirm availability based on their specific location.
How to Open an Account?
The steps to open a Cofglobol account include the following simple processes:
- Visit the official Cofglobol website.
- Click the "CLIENT LOGIN" button on the homepage to enter the trading platform page.
- On the trading platform page, click the "Register" button to register.
- Fill in the required registration information and complete the account setup.
Spread and Leverage:
Cofglobol offers trading conditions that include very low spreads and leverage of up to 1:500. Spreads start from 0.0 pips, meeting the needs of intraday traders for low-cost trading. The leverage ratio of 1:500 provides traders with a larger trading scale but also comes with potential risks.
Cofglobol offers over 1780 tradable financial instruments, covering forex, stocks, indices, bonds, cryptocurrencies, and commodities, and supports trading conditions for a minimum of 0.01 micro lots.
However, trading with high leverage may increase potential profits but also carries potential risks. The 1:500 leverage ratio allows investors to control a larger trading scale with a smaller amount of capital, but market fluctuations may lead to rapid accumulation of losses. Investors should carefully assess their risk tolerance and trading strategy when choosing to use high leverage to ensure they fully understand the potential risks of high leverage trading.
Website Design:
The website design and content of Cofglobol are highly similar to those of Ultimate Pro Assets, Daytrading International, Poohtrade, and other websites, all of which use a template similar to IC Markets for their construction.
Customer Support:
Cofglobol currently does not offer customer support via email, phone, or online services. This may impact the convenience for clients in resolving issues or obtaining help. Investors choosing to use Cofglobol's services need to be aware of this factor for better handling of potential problems.
Summary:
Cofglobol is a newly established American forex broker, offering investors trading services in various financial products such as forex, commodities, indices, futures, and cryptocurrencies. The company offers high leverage of up to 1:500 through its self-developed ST5 trading platform. Despite Cofglobol offering a diverse range of trading tools and services, its account type is relatively limited, and it is currently not regulated by any regulatory authority nor does it offer conventional customer support. Additionally, Cofglobol's website design employs a template similar to that of several other similar brokers.
Currently, Cofglobol is marked as "unregulated" on Traderknows.
