Global Prime is a leading forex broker established in 2010 and regulated by ASIC and VFSC. This review aims to provide you with all the essential information about Global Prime Forex, including its regulations, trading platform, account types, financial products, fees, trading decisions, and customer support.
Quick insights
Global Prime received a trading critique score of 8.5/10 due to its strong regulatory oversight, diverse product range, user-friendly MT4 platform, competitive trading costs, responsive customer support, flexible account options, and efficient order execution.
However, the lack of support for the same deposit and withdrawal methods, limited trading platform options, limited regulations, and potentially insufficient research tools may be drawbacks for some traders.
Global Prime broker review
Global Prime is a leading forex and CFD broker established in 2010, and regulated by ASIC and VFSC. They offer many products with low trading costs and no minimum account size, making financial markets accessible to many. Global Prime provides a comprehensive trading environment with two account types, the MT4 trading platform, various deposit and withdrawal methods, and dedicated customer support.
Global Prime’s commitment to transparency and regulatory compliance ensures a secure and trustworthy trading experience. Their focus on accessibility, coupled with competitive offerings, makes them a popular choice among traders of all levels. Whether you are a seasoned investor or just starting your trading journey, Global Prime offers a reliable and user-friendly platform to explore the world of forex.
Global Prime regulations
Global Prime broker operates under the dual regulations such as:
- The Australian Securities and Investments Commission (ASIC) and
- Vanuatu Financial Services Commission (VFSC).
This means that the broker is subject to the rules and regulations set forth by both regulatory bodies. Traders should carefully evaluate the implications of trading with a broker regulated in Vanuatu, as it may offer less protection compared to ASIC-regulated firms.
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Security measures
- Global Prime prioritizes client funds protection.
- Funds are held in segregated accounts with reputable banks (HSBC, NAB) and managed according to applicable client money laws, ensuring your money is kept separate from company funds.
- This broker offers negative balance protection for ASIC retail clients, not for wholesale clients.
Restricted countries
Global Prime is accessible to clients from most regions, except for Afghanistan, Congo, Iran, Iraq, Myanmar, New Zealand, North Korea, Palestine, Russia, Somalia, Sudan, Syria, Ukraine, Yemen, Japan, or the United States and its territories.
Global Prime account types
Global Prime offers a range of account types to suit different trading styles and preferences. There are two types of accounts provided by Global Prime.
- Standard account
- Raw account
The features of standard and raw accounts are given below.
| Features | Standard account | Raw account |
|---|---|---|
| Spread | From 0.9 pips | From 0.0 pips |
| Commission | $0 z | $3.5 per lot |
| Minimum trade | 0.01 lot | 0.01 lot |
| Maximum trade | 1000 lots | 1000 lots |
| Stop out level | 50% | 50% |
| Scalping | Yes | Yes |
| EAs | Yes | Yes |
| Hedging | Yes | Yes |
| Base currencies | USD, AUD, GBP, EUR, CAD, SGD, JPY | USD, AUD, GBP, EUR, CAD, SGD, JPY |
| Range of markets | 150+ global markets including FX, Indices, Commodities, Digital Currencies, and more. | 150+ global markets including FX, Indices, Commodities, Digital Currencies, and more. |
| Minimum deposit | $0 | $0 |
| One-click trading | Yes | Yes |
| Order distance restriction | None | None |
| Micro lot trading | Yes | Yes |
| Suitable for | All traders | All traders |
Global Prime pro account
Global Prime’s pro account offers exclusive benefits for professional traders, including higher leverage, priority access to new products, trading rebates, fund protection, priority support, and a dedicated account manager.
These features are designed to enhance the trading experience and help clients achieve their financial goals. Pro account holders will maintain their current trading conditions, except leverage.
Other account types
Global Prime also offers joint and corporate accounts for Australian and other international residents. These accounts provide tailored features and benefits to suit specific trading requirements.
Global Prime demo account
Global Prime offers a free demo account to help you learn how to trade. You can practice trading without risking any real money and benefit from features like advanced charting, analysis tools, and personalized support from dedicated trading experts available 24/7.
Global Prime Forex’s demo account provides unlimited virtual cash, allowing you to practice trading with any desired amount of virtual funds. The demo account allows you to access over 150 options across currencies, cryptocurrencies, equities, and commodities.
Global Prime minimum deposit
The minimum deposit requirement of a Global Prime FX broker is 0 and the maximum deposit is AUD 25,000.
Global Prime financial products
Prime Global reviews provide a 150+ wide range of financial products are listed below.
- Global Prime Forex
- Crypto CFDs
- Indices
- Commodities
- Bond CFDs
Global Prime Forex review
Trade major, minor, and exotic currency pairs like EURUSD, GBPUSD, AUDUSD, USDCHF, USDJPY, and USDCAD. Benefit from 24/5 market access and the ability to go long or short on various currency pairs. Start small with micro-lots and scale up as you gain experience.
Crypto CFDs
Trade over 35 cryptocurrencies with Global Prime’s low-cost CFDs. Benefit from 0.1% commissions and margin trading at a fraction of the cost of traditional crypto exchanges. Take advantage of crypto’s volatility by going long or short on BTC, ETH, and more. The available Crypto CFDs are given below.
| Available Cryptocurrencies | |||
| BTCUSD | LRCUSD | DOTUSD | BATUSD |
| ETHUSD | LTCUSD | ENJUSD | TRXUSD |
| DOGEUSD | MANAUSD | EOSUSD | UNIUSD |
| BNBUSD | MATICUSD | FTMUSD | XRPUSD |
| ADAUSD | MKRUSD | GRTUSD | SOLUSD |
| INCHUSD | NEARUSD | KNCUSD | SUSHIUSD |
| ALGOUSD | OMGUSD | LINKUSD | SXPUSD |
| ATOMUSD | SANDUSD | BCHUSD | CRVUSD |
| AVAXUSD | SKLUSD | CHRUSD | DASHUSD |
| AXSUSD | SNXUSD | COMPUSD | XLMUSD |
Indices
Trade popular indices like the S&P 500, GER40, and UK100 as leveraged CFDs with Global Prime. Benefit from tight spreads and competitive pricing, allowing you to capitalize on macroeconomic trends and potentially maximize your returns.
Commodities
Explore the dynamic world of commodities trading with Global Prime. Prime Global offer access to 18 of the biggest markets, including valuable metals, energy powerhouses, and agricultural essentials. Benefit from our commitment to competitive pricing and leverage our network of top liquidity providers.
Commodities span energy, agriculture, precious metals like gold and silver, WTI crude, Brent crude, platinum, palladium, copper, natural gas, cotton, corn, coffee, sugar, orange juice, soybean, and wheat.
Bond CFDs
Benefit from tight spreads, low commissions, and leveraged trading on a diverse range of bond instruments. Access popular markets like US Treasury CFDs and UK Gilts, and enjoy competitive margins and minimal capital requirements. Start Global Prime trading today and explore the exciting world of bond CFDs. The general specifications of bond trading are given below.
| Parameter | VFSC/ASIC pro | ASIC retail |
|---|---|---|
| Stop loss – minimum order distance | Zero | Zero |
| Pending orders | Good Till Cancelled (GTC) | Good Till Cancelled (GTC) |
| Trading platform | MT4 | MT4 |
| Scalping allowed | Yes | Yes |
| Margin call | 90% | 100% |
Trading instruments leverage comparison
The comparison of Global Prime leverage for professional and retail accounts across various trading instruments is provided below.
| Instrument category | Retail account | Professional account |
|---|---|---|
| Major Forex | 1:30 | 1:500 |
| Minor Forex | 1:20 | 1:500 |
| Major Indices | 1:20 | 1:100 |
| Gold | 1:20 | 1:100 |
| Commodities | 1:10 | 1:100 |
| Minor Indices | 1:10 | 1:100 |
| Bonds | 1:5 | 1:100 |
| Digital Currencies | N/A | 1:5 |
Trading platform of Global Prime
Global Prime offers an MT4 as a trading platform. The benefits of using the Global Prime MT4 platform are given below.
- Global Prime Forex offers its clients the MetaTrader 4 (MT4) trading platform, a popular choice among traders.
- MT4 provides a user-friendly interface, advanced features like automated trading and backtesting, and a wide range of customizable tools.
- With Global Prime, traders can benefit from low costs, fast execution speeds, and easy access to the platform across various devices, including web, desktop, iOS, Android, and Mac.
- This versatility allows traders to manage their accounts and trade from different locations and devices.
Global Prime FX is expanding its platform offerings to include Global Prime TradingView, MT5, and cTrader, providing traders with a wider range of options and features. Overall, Global Prime Forex’s MT4 offering provides traders with a robust, versatile, and user-friendly platform for their trading needs.
Deposit and withdrawal of Global Prime
Global Prime offers a variety of convenient and secure methods for funding and withdrawing from your trading account. This table provides detailed information on the available options, including processing times, minimum deposit and withdrawal amounts, and any applicable fees.
| Deposit/ Withdrawal methods | Deposit processing time | Minimum deposit | Deposit fees | Withdrawal processing time | Minimum withdrawal | Withdrawal fees |
|---|---|---|---|---|---|---|
| Visa | Instant | $10 | $0 | 1-5 business days | $10 | $0 |
| Master Card | Instant | $10 | $0 | 1-5 business days | $10 | $0 |
| Crypto | Instant | $10 | $0 | Instant | $10 | $0 |
| PayPal, Neteller, Skrill, GATE8, Dragon Pay, VN Pay, FasaPay, Pagsmile, Jeton, Mifinity, XPay | Instant | $10 | $0 | Dragon pay- 1-2 business days, Gate8, VN Pay, XPay – 1 business day, Others – Instant | Mifinity-$15, Gate8- 50 MYR, VN Pay – 100000 VND, others- $10 | $0 |
| QR code (THB) | Instant | $10 | $0 | – | – | – |
| Bpay | Within 24 hours (during working days) | $10 | $0 | – | – | – |
| POLi | 24-48 hours approx. | $1 | $0 | – | – | – |
| Bank Wire | 1-2 business days (Australia); 3-5 business days (Intl.) | $10 | $0 | 1-2 business days (AU); 3-5 business days (Int.) | $30 | $0 |
| AstroPay | Instant | $10 | $0 | Instant | $10 | $0 |
| Interac | Instant | $1 | $0 | 1-3 business days | $10 | $0 |
| PayID | 30 mins – 3 hours | $10 | $0 | – | – | – |
| Perfect Money | Instant | $1 | $0 | Instant | $10 | $0 |
- Global Prime processes withdrawal requests within one business day of submission, with those made before 10 AM AEST/11 AM AEDT being processed on the same day.
- Withdrawals typically take a few business days to complete, but bank delays may occur.
- Bank withdrawals are only returned to bank accounts in the same name as the trading account.
- Global Prime broker does not accept third-party payments.
Fees and commission of Global Prime
The fees and commission of Global Prime are given below.
Global Prime spread
The Global Prime spread starts from 0.0 pips.
Global Prime commission rates
This table specifically outlines the commission charged by Global Prime for trading various currency pairs and precious metals.
- FX and Metals: $3.5 per 1 standard lot on each side ($7 RT)
- Crypto: 0.1%
- Indices, Bonds, and Commodities (excl. Metals): $0
| Currency | Commission |
|---|---|
| AUD | $7 |
| USD | $7 |
| EUR | € 6.20 |
| GBP | £5.4 |
| SGD | $9.50 |
| CAD | $9 |
Global Prime fees
- Deposit fee: Most deposit methods are free
- Global Prime covers merchant fees for Neteller, PayPal, Skrill, and Credit Card deposits, up to 4% of the deposit amount.
- International bank transfer: $20-$30
- Withdrawal fees: $0 (bank charges may apply)
Trading hours of Global Prime
The trading hours of Global Prime reviews are given below.
| Asset class | Market open | Market close |
|---|---|---|
| Cryptocurrencies | 00:01 Monday | 23:59 Friday |
| Forex | 00:01 Monday | 23:57 Friday |
| Gold | 01:02 Monday | 23:57 Friday |
| UK GILT | 10:00 Monday | 20:00 Friday |
| UST05Y, UST10Y | 01:00 Monday | 23:59 Friday |
| Indices and Energies | Varies by asset | Varies by asset |
Educational resources of Global Prime
Global Prime likely offers a range of educational resources tailored to its clients, such as webinars, tutorials, and market analysis. Explore topics like Forex for beginners, Forex traders’ biases, forex faux pas, trading strategies, trading plans, trading candlesticks, trading glossary, trading costs, and individual traders.
Customer service of Global Prime
Global Prime Forex Broker’s dedicated team of professionals is committed to providing timely, informative, and personalized assistance to our clients. Global Prime support through various channels such as e-mail, phone, and live chat with operating hours of 24/7.
- Phone: +61 (2) 8379 3622
- E-mail: [email protected]
- Live chat: Available on our website during business hours
- Australia address: FMGP Trading Group Pty Ltd Level 10, 627 Chapel St, South Yarra 3141 Australia
- Vanuatu address: Global Prime FX (Company Number 40256), Govant Building, BP 1276, Port Vila, Vanuatu
Conclusion
Global Prime review offers a competitive trading environment with a wide range of financial instruments, including Forex, CFDs, and precious metals. They are dually regulated by ASIC and VFSC, ensuring client fund safety.
They offer competitive spreads, low commissions, and a variety of account types. However, potential clients should carefully consider the regulatory implications, leverage risks, and associated fees before opening an account with Global Prime.
Pro Tip
For cost-effective trading with low spreads and access to a wide range of markets, consider a Raw account. Elevate your trading journey with our trusted forex brokers. Stay informed about the latest trends in Stocks, CFDs, Banking, Forex, Trading, Investment, and Cryptocurrencies. Share your thoughts and suggestions in the comments below.
