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No its not true that democracy has reached to its global level.There are still few more countries who are not completely democratic for example Saudi arabia-this country is under the rule of army but still the people are happy.Africa has recently become democratic after a long struggle which lasted for nearly 2 centuries..So it can't be said that Democracy has reached its maximum global level

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Democracy at the global level have following points:
The international institutions should be subjected to democratic accountability.
It requires the legitimacy of popular control through direct mechanisms.
The participation of all the citizens in decision making is compulsory.
The global democracy guarantees the equality to all citizens. 
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