- Owned by B.S.M Services LTD (the “Company”)
- Operational Address - Tornimae 5, 10145 Tallinn, Estonia
- Products: CFDs Trading, Commodities Trading, Forex Trading, Shares Trading , Indices Trading;
- Available to non-U.S. customers only;
- Daily support and private account management to VIP traders.
Glenmore – Scam or Reliable broker?
Glenmore Investments offers online FX, CFDS and commodities brokerage services to investors globally. It provides a Standard Account, with a reasonable leverage ratio of 1:200 (see the chart below for the most important trading conditions).
It also benefits from two very important safety measures: segregated accounts and negative balance protection that might encourage people to see this broker as a safe choice and less likely to be a scam.
The MT4 Platform
A big plus for this broker is the availability of the MT4 platform. This is the fastest and the most reliable interface for trading and it has been around for 10+ years, which certifies its quality.
Flexibility is another characteristic of the MT4 platform, as it suits both novice and experienced traders. Auto trading, charting options and features for creating personalized indicators are all at traders’ disposal.
Safety of Funds
A high security level is paramount to ensure confidence in a broker. With the segregated accounts option, the traders’ funds are kept separate from the broker’s money. So, if something bad happens to the broker (like going bankrupt), the traders' money can be easily identified and kept from litigation. Glenmore Investments offers this option.
Negative balance protection
Negative balance protection is hugely important and beneficial to be present in every broker’s offer really. With the negative balance protection service that Glenmore Investments offers, your funds can never go below zero when trading. Usually, brokers employ safeguarding measure, like margin calls or stop losses.
Still, sometimes the markets can experience such unexpected falls, that there’s simply not enough time for the safety measures to kick in. Take the Swiss franc crash as an example, when prices moved way beyond any stop loss or margin call imaginable levels. Here’s exactly when negative balance protection works best.
So, the safety measures are there for traders’ protection. These are very important measures to keep people invested into this broker.
Solid Educational Center
Glenmore Investments’ learning center is solid enough for the vast majority of investors. The interested people can find a whole array of materials, starting from Forex & CFDs videos on demand, extensive trading analyses, updated daily economic insights and in-depth MT4 tutorials.
Account and Deposit types
Glenmore Investments offer 4 account types: Mini, Standard, Premium and VIP. The minimum deposit value is $250, while the highest is $50000. All account types come with different bonuses and promos, from e-books, 1-on-1 trading lessons, market reviews from the personal account managers or trading alerts.
All in all, the versatility is there. We don’t see why traders wouldn’t be happy with what they get to choose from.
Good leverage ratios
The ratio levels of 1:200 offered by Glenmore Investments are reasonable for most traders. It’s also the safest upper limit before heavy losses might appear, in case of major market movements.
The lack of a demo account
One of Glenmore Investments’ disadvantages is the lack of a demo account. This would be very useful for testing the overall functionality of the broker before going live trading. Still, experienced traders might not really need to test anything before going live, as they already know what to do and what to expect.
No micro lots
Micro lots would be a nice addition to a brokerage website because it reduces the risks somehow, by allowing traders to put less at stake.
As for payment methods, Glenmore Investments support the regular Visa and MasterCard credit/debit cards, wire transfers (with a minimum amount of $250) and Bitcoin deposits.
Glenmore Investments’ offer is good enough to satisfy most traders. It focuses on a strong protection level (including the segregated accounts and Negative Balance Protection options) and employs the solid MT4 platform where people can trade a decent amount of assets. Plus everybody will be comfortable trading on it, since it is a standard in the industry.
Its significant minuses are the missing demo account and the absence of micro lots option.
Is it a scam or fraud? Our verdict: no. We think everyone can at least try it to make their own mind.