Do these 3 things before closing this tab:
1Fix the driver behind crashes, sound loss and screen glitches2Repair Windows errors before they cause bigger problems3Scan for outdated or missing drivers - takes under a minuteGlobex360 was a real South African financial-services business, but the evidence does not support treating it as an active broker today. It historically held an FSCA Category 1 Financial Services Provider licence, commonly listed as FSP 50130. However, the FSCA found that Globex360 offered CFDs through MetaTrader 4 while operating as an over-the-counter derivative provider (ODP) without the required ODP authorisation. The regulator imposed a R50,000 administrative penalty on February 1, 2023.
Current evidence indicates that the Globex360 brand has shut down, its former FSP licence is inactive, and its original website is inaccessible. Any website or representative currently soliciting deposits under the Globex360 name should therefore be treated as high risk until its legal identity, licence and payment arrangements are independently verified.
Globex360 at a glance
| Question | Finding |
|---|---|
| Was Globex360 a real business? | Yes. It was a South African company and formerly held an FSCA Category 1 FSP licence. |
| Former licence | FSP 50130, reported as inactive in current broker-directory data. |
| Regulatory problem | The FSCA found that Globex360 operated as an ODP without the required authorisation. |
| Administrative penalty | R50,000, imposed on February 1, 2023. |
| Operating status | Available evidence indicates that the brand is discontinued and no longer accepting new clients. |
| Current verdict | Do not assume that a current Globex360 solicitation is genuine or authorised. |
Status checked: August 8, 2026.
What was Globex360 authorised to do?
The FSCA identified Globex360 (Pty) Ltd as a Category 1 Financial Services Provider. Its authorisation covered specified advice and intermediary services involving derivative instruments, including CFDs linked to equities, currencies, indices and commodities.
That permission was narrower than it may sound. A Category 1 FSP licence did not automatically allow Globex360 to issue or sell CFDs as an ODP. The distinction matters because a broker can be authorised to advise on or intermediate a product without being authorised to act as the product provider or counterparty.
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In its regulatory action, the FSCA concluded that Globex360 was offering clients access to CFDs through MetaTrader 4 and operating as an ODP. It did not hold the ODP authorisation required for that activity.
The relevant lesson is that a licence number by itself is not enough. A proper licence check must match:
- the exact legal entity;
- the licence number;
- the products and services permitted;
- the licence’s current status; and
- whether the firm is acting as an intermediary, provider or counterparty.
The FSCA’s Regulatory Actions Report sets out the difference between Globex360’s FSP status and the unauthorised ODP activity.
Why did the FSCA fine Globex360?
On February 1, 2023, the FSCA announced a R50,000 administrative penalty against Globex360 (Pty) Ltd. The regulator’s findings were that the company:
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- gave clients access to CFDs through MetaTrader 4;
- operated as an over-the-counter derivative provider;
- did not hold the required ODP authorisation; and
- could not rely on its Category 1 FSP licence as permission for that activity.
The penalty order does not describe Globex360 as a fictitious company or make a finding that it defrauded clients. The FSCA recorded that the firm cooperated with the investigation, had no previous financial-sector-law contraventions and attributed the breach to a misinterpretation of the legal position. The company had also submitted an application for ODP authorisation, which was under consideration when the penalty was announced.
Those details provide important context, but they do not remove the significance of the breach. Globex360 was found to be performing a regulated activity without the required authorisation.
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See the FSCA penalty announcement and administrative penalty order.
Is Globex360 still regulated?
Do not treat FSP 50130 as an active licence. Globex360 was historically associated with that FSCA licence number, but current broker-directory information identifies the licence as not active. Current review pages also describe Globex360 as shut down and no longer accepting new clients.
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The authoritative way to check a South African financial-services licence is through the FSCA’s own register, not an old certificate, archived marketing page or third-party comparison website. Search for the exact legal entity and check both the status and the permitted categories.
Use the FSCA website and its e-services and FSP query information when checking a claim. A result showing a historical association with an FSP number is not proof that the firm can currently onboard clients or receive deposits.
Is Globex360 still operating?
The available evidence points to a discontinued broker brand:
- The original
globex360.co.zawebsite returns a 403 Forbidden response when accessed directly. - Current broker-review pages state that Globex360 has shut down and is no longer accepting new clients.
- Company-record data indicates that the former Globex360 legal entity changed its name to IQUOTO AFRICA effective September 4, 2024.
- The company record reportedly shows the corporate entity as active, while its LEI registration is lapsed.
A company-record status is not the same thing as an active financial-services licence. A business can remain incorporated, change its name or appear in a corporate database without being authorised to provide investment services.
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On the evidence available, Globex360 is better described as a former or discontinued broker brand, not as a currently operating FSCA-regulated broker.
Was Globex360 rebranded as 360Capital?
Older broker reports commonly say that Globex360 became 360Capital. Some also claim that 360Capital’s clients were transferred to QuickTrade.World in September 2024.
That transfer should not be presented as independently verified for every former client. The current QuickTrade.World pages reviewed for this article do not identify Globex360 or 360Capital as a current brand or legal entity. They instead identify the following structure:
| Entity | Information stated by QuickTrade |
|---|---|
| QuickTrade World (Pty) Ltd | Botswana-incorporated global operating company, registration number BW00000404456. |
| QuickTrade (Pty) Ltd | South African Category 1 FSP, FSP 45262, described as an introducing broker handling South African client relationships. |
QuickTrade’s materials also state that QuickTrade.World is the principal broker and counterparty for trades placed through its platform. This is a separate contractual and regulatory structure from the former Globex360/FSP 50130 structure.
Consequently, QuickTrade’s FSP 45262 should not be used as proof that Globex360 was authorised, nor should a former Globex360 account be assumed to have the same legal protections after an alleged migration. A client should require a dated notice, new client agreement and clear explanation of the receiving entity before accepting any account transfer.
Relevant documents include QuickTrade’s FAQ, legal-information page and contact page.
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Common claims that are outdated or misleading
“Globex360 is currently FSCA regulated”
This is unsupported by the current evidence. Globex360 historically held FSP 50130, but current data identifies that licence as inactive and current broker sources describe the business as shut down.
“Its FSCA licence allowed it to issue CFDs”
Incorrect. The FSCA distinguished between advice and intermediary services involving derivatives and operating as the ODP that provides or sells CFDs. Globex360 was found to have performed the latter without the required authorisation.
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That conclusion goes beyond the regulator’s decision. The penalty establishes a regulatory breach involving unauthorised ODP activity. It is not, by itself, a finding of fraud. The FSCA also noted cooperation, no previous contraventions and a claimed misunderstanding of the legal requirements.
“Globex360 still offers MT4 accounts and new-client deposits”
Those claims come from older broker descriptions. The current evidence indicates that the original broker has shut down and is no longer accepting new clients. A new website using the same name would need to prove that it is connected to an active, authorised legal entity.
“An active company record proves authorisation”
It does not. Company registration and financial-services authorisation are different checks. The reported name change to IQUOTO AFRICA does not establish that the entity holds an active FSCA licence or that it may provide CFDs to retail clients.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.What to do if someone is currently using the Globex360 name
Do not deposit money merely because the person supplies an old FSP certificate, mentions 360Capital or says your account was migrated to QuickTrade.World. Verify the following before sending documents or funds:
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- Legal entity: Ask for the exact company name and registration number. Do not rely on the trading brand alone.
- Regulator record: Search the entity directly in the FSCA register. Confirm that the authorisation is current and covers the specific service being offered.
- Contractual counterparty: Read the client agreement and identify who is providing the CFD, holding the relationship and acting as counterparty.
- Payment destination: Check that the bank account or payment provider belongs to the named legal entity. Personal accounts, cryptocurrency wallets and unrelated overseas companies are major warning signs.
- Withdrawal process: Confirm the official withdrawal route before depositing. Never pay a separate “tax”, “release fee” or “verification charge” to unlock an account or withdrawal.
- Complaints route: Check the named dispute-resolution process and whether it applies to the entity and jurisdiction in your agreement.
If money has already been sent, preserve account statements, emails, chat logs, wallet addresses, payment confirmations and screenshots. Contact the bank or payment provider promptly, then report the matter to the relevant regulator or law-enforcement authority. Do not send additional funds to a supposed recovery agent.
FAQ
Is Globex360 a legitimate broker?
Globex360 was a real South African financial-services business and historically held an FSCA Category 1 FSP licence. However, the FSCA found that it operated as an unauthorised ODP, and current evidence indicates that the brand is discontinued. It should not be treated as a currently operating legitimate broker.
What was Globex360’s FSP number?
Globex360 was commonly associated with FSCA FSP number 50130. Current broker-directory information reports that this licence is not active. Check the exact legal entity and current status in the FSCA register rather than relying on archived certificates.
Did the FSCA fine Globex360?
Yes. On February 1, 2023, the FSCA imposed a R50,000 administrative penalty after finding that Globex360 offered CFDs through MetaTrader 4 while operating as an ODP without the required authorisation.
Was Globex360 the same company as QuickTrade.World?
That has not been independently established for every former Globex360 client. Older reports allege a rebrand to 360Capital and a later transfer to QuickTrade.World, but current QuickTrade materials identify separate QuickTrade entities and do not present Globex360 or 360Capital as current brands. Require a dated transfer notice and new contract before accepting such a claim.
Can I recover money from a Globex360 account?
Do not assume that a person offering to recover funds is connected to Globex360 or a regulator. Contact your bank or payment provider quickly, preserve all evidence and use official regulator or law-enforcement reporting channels. Never pay an upfront recovery, tax or release fee.
The Bottom Line
Bottom line: Globex360 was not an invented broker, but its historical FSCA Category 1 licence did not authorise the ODP activity for which it was fined. FSP 50130 should not be treated as active, and available evidence indicates that the Globex360 brand has shut down. Any current solicitation using the name is high risk unless the exact legal entity, active regulator permission, client agreement, counterparty and payment destination can all be verified independently.
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