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Glow Node Review 2024

Website: www.glow-node.com

Min. Deposit: US$ 100

Leverage: 1:30

Trading Platforms: Match-Trader

Regulation: UK

Headquarters: UK

Founded: 2022

Regulatory Licenses:

- Glow Node LTD — registered in the UK company number 14037065

Updated on April 1, 2024

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Our Review Method ▲

In our endeavor to provide an honest and detailed review of forex brokers, we have developed a comprehensive methodology that scrutinizes every aspect of their service. This method involves comparing the broker against over 1000 brokers in the market, focusing on factors such as fees, spreads, commissions, platform offerings, regulatory status, customer support quality, educational resources, and trading tools. Our team of experts conducts extensive research, including firsthand testing of the platforms and services, to ensure our reviews are accurate, reliable, and up-to-date. We aim to deliver insights that help traders make informed decisions about which broker best suits their trading needs.


What is Glow Node?

Glow Node emerged as a proprietary trading firm established to bridge a market gap by closely collaborating with traders to foster their profitability. Launched in April 2022, the firm began its journey with a strong passion for trading, initially unveiling their first Trading View Indicator. Since then, Glow Node has broadened its offerings to include a proprietary trading program, equipping traders with essential tools, training, and simulated funding opportunities. This innovative approach benefits both the firm and the traders, promoting mutual profitability.

Initially focusing on trading education and the provision of indicators, Glow Node has expanded into offering proprietary firm challenges to responsible traders. This venture into prop trading empowers traders to work with substantial capital, potentially reaping significant profits while effectively managing risks.

Glow Node sets itself apart by providing substantial capital for traders, allowing them to handle up to $1,000,000 with the chance to keep up to 90% of the profits. This positions it as a notable entity in the prop trading sphere, enabling traders to achieve considerable financial success and independence.


Glow Node Pros Cons ▲

Pros

  • Lower Profit Target

  • A variety of trading account sizes

  • Low entry fees

  • 50% payout in case of rule breach

  • Low Commissions on Forex instruments

  • Refundable Fee once you become Funded Trader

  • Account Merge

  • No minimum trading days

Cons

  • Doesn't have License

  • It is hard to become Funded Trader

  • Limited Instrument Range

  • Doesn't offer MetaTrader Platform

  • Doesn't offer free trial

  • Low Leverage


Is Glow Node Legit?

Glow Node is recognized as a legitimate proprietary trading firm based in the United Kingdom, a jurisdiction renowned for its stringent financial regulations and supervisory mechanisms. The firm has accumulated numerous positive reviews on Trustpilot, reflecting its solid reputation and high levels of user satisfaction. Typically, proprietary trading firms differ from forex brokers as they usually do not possess a forex broker license, which implies they undergo less regulatory scrutiny and are not under the watch of industry-specific regulators. Hence, the level of safety might not be on par with that of regulated forex brokers, given that the proprietary trading firm itself monitors its operations and supplies the capital for trading endeavors.


Glow Node Challenge Evaluation Rules ▲

Our review of Glow Node Prop Firm meticulously scrutinizes the structure of the evaluation challenge, focusing on the enrollment criteria for the trading challenge. This includes deciphering the assessment type necessary for acquiring a Funded Trading Account and becoming a Proprietary Trader, along with pinpointing the costs tied to this journey, predominantly associated with a Registration Fee. Glow Node prop trading firm proposes a variety of evaluation challenges tailored to diverse trading styles and preferences. These encompass the 2-Phase and the 1-phase Evaluations — the former necessitates traders to achieve specific profit objectives across two distinct phases while adhering to daily and absolute drawdown limits; the latter offers a more simplified route by requiring traders to accomplish a single profit goal with predetermined drawdown constraints.


Account Balance and Registration Fee ▲

Before embarking on their trading journey with Glow Node, traders must select the Challenge type and Account Balance aligning with their trading aspirations, as the challenge conditions differ with each account size. This decision also dictates the registration fee required to partake in the challenge. Notably, Glow Node facilitates a fee refund upon attaining the status of a Funded Trader. For an elaborate comparison of registration fees across various account sizes, we refer you to our Registration Fee comparison table presented below. Glow Node adopts a personalized approach to trader evaluations, offering options like the 2-Phase and 1-Phase Evaluations for structured achievement of profit targets and risk management. Each option entails specific registration fees, refundable once reaching funded trader status, catering to different trader preferences and risk profiles. Glow Node introduces a 2-Phase Evaluation challenge with varying difficulty levels, categorized as Easy, Medium, and Hard, each designed to suit different trading styles and risk tolerances. These categories likely influence the challenge conditions such as profit targets, maximum drawdown limits, and potentially the evaluation fee. Glow Node features a range of account sizes from $10,000 to $200,000 across its evaluations, intended to accommodate varying levels of trading experience and capital requirements. Furthermore, the fees for different account sizes vary accordingly. In Glow Node, a trader is allowed to manage a maximum of 3 accounts simultaneously, with the aggregated starting balance of these accounts not surpassing $300,000.


Profit Target ▲

To pass the evaluation, traders must fulfill certain requirements, one of which is reaching the Profit Target set by the firm. Glow Node’s profit targets differ based on the chosen evaluation program. For the 2-Phase Evaluation, the initial phase mandates an 8% profit target, whereas the second phase requires a 5% profit target. The 1-Phase Evaluation establishes a singular profit target of 10%. These targets are devised to evaluate a trader’s capability to generate profits within the established risk management parameters.


Maximum Loss ▲

For the 2-Phase Evaluation at Glow Node, the maximum loss parameters are crafted to efficiently manage risk. The daily drawdown is limited to 5% relative to the high watermark at the commencement of the trading day, and the allowable maximum drawdown is 10%, a trailing metric. This strategy ensures traders remain cautious of their risk exposure while endeavoring to meet their profit targets. To meet the requirements, all rules must be strictly adhered to, otherwise, the account will be terminated, necessitating a reset.


Free Trial ▲

Glow Node does not extend a free trial for its trading challenges. Participants are required to pay a registration fee to access the trading evaluations or instant funding accounts across their programs, which include the 2-Phase Evaluation, 1-Phase Evaluation, and Instant Funding options.


Funded Account ▲

After successfully completing the challenge, traders are granted access to their Funded Account, typically activated within a few business days. This account reflects the conditions and balance of the challenge level for which the trader qualified. To access a higher account level, traders must retake and pass the challenge corresponding to the desired account balance.


Account Conditions ▲

It's essential to consider several factors when evaluating account conditions, including the variety of account options, available trading platforms, instruments, and the costs associated with trading. Additionally, assessing leverage levels and overall trading conditions is critical, especially since some brokers may impose restrictions on certain strategies or practices in funded accounts, which could lead to the loss of the account. In such scenarios, requalification through a testing process may be necessary.


Trading Instruments


Glow Node offers an extensive selection of trading instruments across various markets, such as forex pairs, commodities, indices, and cryptocurrencies. This variety enables traders to diversify their strategies and delve into different financial markets.


Glow Node Commission


The commission for trading forex pairs with Glow Node is set at $2.50 per lot, aiming to closely mirror real trading conditions and assist traders in accurately planning their strategies with trading costs in mind.


Glow Node App Platform


Unlike many firms that provide MetaTrader platforms, Glow Node opts for the Match Trader platform. This choice supports their objective to offer a reliable and efficient trading environment, conducive to executing diverse strategies across the broad spectrum of trading instruments available, including forex, indices, and cryptocurrencies.


Trading Conditions


Glow Node has designed a set of trading conditions to meet the various preferences and strategies of traders using their funded accounts. These conditions are crafted to ensure that traders can find the trading environment and rules flexible to their unique trading styles and objectives. Glow Node supports a wide array of trading strategies, such as swing trading, day trading, and scalping, as long as they adhere to the firm’s guidelines. Strategies that demonstrate consistent profitability and responsible risk management are favored. Certain practices, like news trading and holding positions over the weekend, are permitted under specific conditions to mitigate risk. Additionally, Glow Node has a policy for inactivity; if a trader does not engage in trading activity for 30 days, their challenge or evaluation may be deemed inactive and could expire.


Glow Node Promotions


Currently, Glow Node is offering two promotional discount codes: “FRESHSTART” for 10% off and “SPRING” for 30% off. These promotions provide potential savings on trading program fees.


Payout ▲

Glow Node enables traders to request payouts bi-monthly, with the first withdrawal available after meeting the specified profit targets within their trading challenges. The firm is committed to facilitating a smooth process for fund withdrawals, ensuring traders can access their earnings without delay. If a trader violates any of Glow Node’s account rules before the bi-monthly mark, they may still qualify for a payout, albeit possibly reduced to 50% of the remaining profits in the account.


Withdrawal Method


Glow Node offers several withdrawal methods, including Rise, cryptocurrencies, and bank transfers, providing flexibility for traders to access their earnings according to their preferences and geographical constraints.

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