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Global Prime Review 2024

7.7/10
TU Overall Score
The purpose of creating the TU Overall Score is to make the search for secure and reliable brokerage companies easier for the visitors of our website. We believe that it is a very important mission as, unfortunately, not every company in the financial industry is worthy of trust.

According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
Minimum deposit:
  • $200
Trading platform:
  • MetaTrader4
Regulation:
  • VFSC
  • ASIC
Foundation year:
  • 2009
Updated:
7.7/10
TU Overall Score
The purpose of creating the TU Overall Score is to make the search for secure and reliable brokerage companies easier for the visitors of our website. We believe that it is a very important mission as, unfortunately, not every company in the financial industry is worthy of trust.

According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
Minimum deposit:
  • $200
Trading platform:
  • MetaTrader4
Regulation:
  • VFSC
  • ASIC
Foundation year:
  • 2009
14*
people picked this broker on the Traders Union website over the last 3 months
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Global Prime isn't available in United States
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Our Evaluation of Global Prime

7.7/10
TU Overall Score
The purpose of creating the TU Overall Score is to make the search for secure and reliable brokerage companies easier for the visitors of our website. We believe that it is a very important mission as, unfortunately, not every company in the financial industry is worthy of trust.

According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
Traders Union icon

Global Prime is a reliable broker with the TU Overall Score of 7.7 out of 10. Having reviewed trading opportunities offered by the company and reviews posted by Global Prime clients on our website, Traders Union expert Anton Kharitonov believes he can recommend this company as the majority of reviews showed that the broker’s clients are mostly satisfied with the company.

The Global Prime brokerage company is suitable for both novice and experienced traders and is geared toward English-speaking clients.

Brief Look at Global Prime

Global Prime is an Australian broker headquartered in Sydney. It provides services to traders in most countries. The company was founded in 2010 and is now regulated by the Australian Securities and Investments Commission (ASIC, 385620) and the Vanuatu Financial Services Commission (VFSC, 303124). Global Prime has won several prestigious awards, including “Best Client Service” from AU Forex Awards and “Best Forex Analytics” from Australian Forex Awards.

Advantages of trading with Global Prime:
  • reputable financial regulators;
  • wide range of the most requested trading instruments;
  • quick and simple registration.
Disadvantages of Global Prime:
  • website is in English only;
  • no cent accounts;
  • news and reviews are in English only;
  • minimum deposit is $200;
  • client support works slowly.

TU Expert Advice

Anton Kharitonov

Financial expert and analyst at Traders Union

The Global Prime broker has been delivering services in the Forex market for over 10 years. During this time, it has earned the reputation of a stable and reliable company. The broker offers good trading conditions comprising two types of real accounts and a demo account. The company does not cooperate with U.S. citizens.

Global Prime provides users with a rather wide range of trading instruments, including currency pairs, commodities, metals, indices, and cryptocurrency. Clients use the MetaTrader 4 trading platform. There are some drawbacks, such as the absence of tutorials, as well as numerous client complaints about technical support. The website is not very convenient and offers few features, which creates significant problems for clients. Technical support is only provided in English.

Trade with this broker, if:
  • You want support of multiple platforms as they offer MetaTrader 4 and their proprietary GP Trader platform, catering to different preferences and trading styles, ensuring flexibility for traders.
  • Regulation is top priority for you as this broker is regulated by the Australian Securities and Investments Commission (ASIC), a reputable regulatory body, ensuring compliance with stringent standards and providing a level of trust and security for traders.
Do not trade with this broker, if:
  • You prefer to avoid CFD-focused trading as they primarily offer Contracts for Difference (CFDs), which involve leverage and may not be suitable for all investors. Traders should assess their risk tolerance before engaging in CFD trading.
  • You seek direct ownership of US stocks as this broker only offers CFDs on US shares, which means traders interested in owning US stocks directly may need to explore alternative brokers that provide such services.

Global Prime Summary

Your capital is at risk. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. A high percentage of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

💻 Trading platform: MetaTrader 4
📊 Accounts: Demo, ECN (electronic communication network) account, and institutional account
💰 Account currency: USD, EUR, AUD, CAD, GBP, and SGD
💵 Replenishment / Withdrawal: Visa, MasterCard, Neteller, Skrill, DragonPay, and wire transfers
🚀 Minimum deposit: $200
⚖️ Leverage: Up to 1:200
💼 PAMM-accounts: Yes
📈️ Min Order: 0.01 lots
💱 Spread: From 0.1 pips for currency pairs
🔧 Instruments: Currencies, stocks, indices, commodities, metals, and cryptocurrencies
💹 Margin Call / Stop Out: 120%/100%
🏛 Liquidity provider: ECN PrimeXM, FlexTrade, and BNP Paribas
📱 Mobile trading: Yes
➕ Affiliate program: Yes
📋 Orders execution: Market
⭐ Trading features: Advisers can be used
🎁 Contests and bonuses: No

The Global Prime broker provides relatively favorable trading conditions to its clients. The minimum deposit amount for both account types is $200. The spread size depends on the trading instruments (the minimum spread for currency pairs is 0.1 pips). The minimum trade volume for both account types is 0.01 lots. Leverage depends on the trading instruments selected and its maximum value is 1:200.

Global Prime Key Parameters Evaluation

User Satisfaction

Score:
3.3/10

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fxmamun
3 weeks ago

I would like to leave a good review of Global Prime. I have been trading with this broker for a short time. I will say that during our work the broker did not let me down. The Global Prime trading platform is convenient in every sense, freezes are very rare, there is a smooth flow of quotes, the support is responsive, and issues are resolved quickly. Funds are withdrawn and delays are rare.

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sahanecom
6 weeks ago

Global Prime is one of the worst companies today! Terrible order execution, almost non-existent customer support, very slow withdrawal process. Any dispute that arises during cooperation takes a very long time to resolve. I withdrew my money for over a month, and Global Prime support didn't respond to any of my requests. With such problems, I don't need a broker like this! I don't recommend this company to anyone.

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sumith
9 weeks ago

Trading with Global Prime is impossible. Okay, there's no proper regulator's license here. But when the platform is configured in a way that the client constantly loses money, you start to suspect the company's manipulations. After all, I trade with three companies, and only with Global Prime does my strategy result in losses.

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schasch
12 weeks ago

In Global Prime, the payment system is very complex, and withdrawing money is problematic. This broker is complicated and operates as it sees fit. Trader's preferences are not considered here at all. I didn't like trading here at all, so I didn't stay long. I traded with Global Prime for six months, lost all my money due to issues. I don't plan to stay here anymore.

Responses to a comment
nalin to schasch
9 weeks ago

In Global Prime, it's not just a complex system. I think everything is deliberately done here to avoid withdrawing clients' money, or at least to significantly delay withdrawals. I've been waiting for my withdrawal for two weeks.

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nafeesprint
15 weeks ago

Today I discovered that the Global prime platform does not allow to open trades. There is the “trading is prohibited” message in the log. I contacted Global prime’s support and it turned out that trading was prohibited due to low trading volume. Is this ok? But I didn’t understand where the trading volume was low - with me, when I have five trades a day or on the Global prime platform itself? I'm closing the account.

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mdarade
16 weeks ago

Global Prime manipulates price charts, and their platform resembles a virtual one. They don't allow money withdrawals, rejecting all my withdrawal requests, even a $110 one. I couldn't withdraw anything and lost $750.

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Maccasset
17 weeks ago

Global Prime is one of the worst companies today! It has horrible order execution, no technical support, and withdrawals are very slow. I don’t need Global Prime with such problems! I do not recommend this company to anyone.

Responses to a comment
yani to Maccasset
16 weeks ago

Unfortunately, I can only confirm that Global Prime is causing significant problems for traders. This particularly concerns the execution of orders, which either don't open at all or open with a considerable delay.

Score:
5,21/10

Trading Account Opening

To start trading with Global Prime and receive compensation through the Traders Union rebate service, do the following:

1

Register on the Traders Union website, use its referral link to go to the Global Prime website, and click the “I Want to Trade” button.

Review of Global Prime’s user account — Official website
Review of Global Prime’s user account — Official website
Review of Global Prime’s user account — Official website
Review of Global Prime’s user account — Official website
2

After that, complete the registration by including your country of residence, first and last names, gender, email address, and create a password.

Review of Global Prime’s user account — Registration
Review of Global Prime’s user account — Registration
Review of Global Prime’s user account — Registration
Review of Global Prime’s user account — Registration
3

The following features are available in your user account:

1. Opening trades in one click;
2. Information on trading activity and accounts.
1. Opening trades in one click;
2. Information on trading activity and accounts.

User accounts also provide access to other useful features such as:

  • analytic tools;

  • client support;

  • account settings;

  • broker’s terms and conditions.

Score:
8.52/10

Regulation and Safety

Information

In the ten years that Global Prime has been in business, it has earned its clients’ trust worldwide. Global Prime’s activity is regulated by the ASIC (license number: 385620) and the VFSC (license number: 40256).

Advantages

  • The broker holds licenses from two financial regulators
  • Relations between market participants are tracked and regulated by the reputable ASIC

Disadvantages

  • Complaints are accepted in English only
  • Grievances concerning small amounts of money are not considered
  • Grievances concerning the compensation for moral damage are not considered
  • The procedure for making complaints is long and complicated
Score:
8.57/10

Commissions & Fees

Information
The Traders Union specialists have checked if this broker has hidden fees. Global Prime does not charge withdrawal fees, but they may be charged by banks or payment systems.
Account type Spread (minimum value) Withdrawal commission
ECN account From $1.5 No
Institutional account From $1.5 No

The fee on holding trading positions overnight applies. The Traders Union has also compared trading fees at Global Prime to those charged by two other Forex brokers and ranked them based on their fees.

Broker Average commission Level
$1.5
Medium
$1
Low
$8.5
High
Score:
5.67/10

Account Types

Global Prime offers two account types. ECN accounts are more suitable for beginners and institutional accounts are for legal entities. They differ primarily in leverage and access to additional services.

Account types:

Account Type
Description
ECN account
The minimum deposit is $200 and spreads are variable. The minimum spread for currency pairs is 0.1 pips. Leverage is 1:100 or 1:200. The margin call level is 120%;
Institutional account
The minimum deposit is also $200. Spreads are variable. The minimum spread for currency pairs is 0.1 pips. Leverage is up to 1:100. The margin call level is 120%. The holders of this account type are offered lower swap fees and are assigned personal specialists. This account type is for legal entities.

Traders can also open demo accounts to get familiar with the trading platform and test trading conditions.

Score:
7.84/10

Deposit and Withdrawal

  • Global Prime releases funds fairly slowly;

  • The company does not charge withdrawal fees, but they can be charged by banks and payment systems;

  • The broker offers 5 account funding options (bank transfers, Visa or MasterCard, Neteller, Skrill, DragonPay) and 3 withdrawal options (bank transfers, Visa or MasterCard, and Neteller);

  • Withdrawal to bank cards usually takes 1-2 business days for Australian citizens and 3-5 business days for everyone else. Bank transfers take 1-10 business days. Withdrawals using Neteller are made within 1 day;

  • Withdrawals can be made in U.S. dollars, euros, British pounds, Singaporean dollars, Canadian dollars, and Australian dollars.

Score:
7.02/10

Investment Options

With Global Prime, users can combine active trading with passive investing. The broker has its proprietary МАМ (multi-account manager) module, which lets you join other investors or act as a manager yourself. Such investment programs enable clients to earn additional income even if they are novice traders.

MAM module

This service gives clients access to various investment options. All they have to do is open an account and choose a manager.

  • Professional traders control and perform trading on behalf of several clients by using PAMM accounts;

  • The trading interface is intuitive, which lets managing traders focus on trading results and not on user account administration;

  • You can always change the manager if the trading results do not satisfy you;

  • Passive investing does not necessarily suggest having trading skills, but if you want your investments to bring profits, you should get familiar with the basic principles of Forex trading.

Every trader can be both a manager and an investor. For that, you need to open an account, make a minimum deposit, and start trading. In your user account, you can track the return on your investments and make corresponding decisions about managing your deposits.

Important!

If you are a large investor and plan on investments over $10,000, contact us at vip-invest@tradersunion.com or by the feedback form on our website. Our professional team will take you through all the intricacies of the deal and all the steps from signing up to withdrawal of profits.

Global Prime’s affiliate programs

  • Introducing broker. Clients can earn additional monthly income by inviting new users and getting part of their spreads. The affiliate reward is $2-5 per lot for every user;

  • Affiliate program. Clients can make additional profit by advertising the broker on the internet or on social media. In this case, a payment model called “cost per action” is applied.

In summary, the Global Prime broker offers fairly good affiliate programs, which let clients create their own referral networks and receive part of the broker’s fee.

Score:
6.51/10

Additional Trading Tools

Global Prime assists clients in market analysis and building trading strategies. For these purposes, it provides:

  • An economic online calendar. It provides information about various events and indicators expected in the market at a certain period of time. The calendar displays important dates for financial markets and publications of various economic reports, data, and events.

    Additional Trading Tools of Global Prime - Economic calendar
    Additional Trading Tools of Global Prime - Economic calendar
  • Forex calculators. The broker's website features 5 types of trading calculators. With their help, a trader can calculate various indicators for an upcoming trade - currency conversion rate, pip value, Stop Loss and Take Profit levels, margin size, and fee for carrying over an open position to the next trading day.

    Additional Trading Tools of Global Prime - Forex calculators
    Additional Trading Tools of Global Prime - Forex calculators
  • Autochartist. It is an automated technical analysis system that examines market data and identifies various formations and patterns on price charts. This online platform aids in forecasting price levels, featuring a user-friendly interface and simple formatting of analytical reports.

    Additional Trading Tools of Global Prime - Autochartist
    Additional Trading Tools of Global Prime - Autochartist
  • Virtual Private Server (VPS). It is a remote server that operates 24/7 and is provided to traders to run and operate their trading robots on Forex (or other markets) without interruption. For traders with a turnover of 20 lots within 30 days, the broker grants free access to VPS.

    Additional Trading Tools of Global Prime - VPS
    Additional Trading Tools of Global Prime - VPS
Score:
5.5/10

Customer Support

Information

Client support provides technical and operational support 24/5.

Advantages

  • Online chat
  • Support by phone
  • Support in user accounts

Disadvantages

  • No support at weekends
  • The service is in English only
  • Response may take up to 5 days
  • No feedback form

Support can be contacted in the following ways:

  • by phone via the numbers included on the website;

  • by email;

  • via online chat.

Client support is available on the Global Prime website and in user accounts.

Contacts

Foundation date 2009
Registration address Suite 604 35 Grafton Street Bondi Junction Australia
Regulation VFSC, ASIC Licence number:
40256, 385620
Official site globalprime.com
Contacts
+61 (2) 8379 3622
Score:
4.97/10

Education

Information

Global Prime does not provide learning courses, only financial market news.

Information contained in the Insights section
What is not on the Global Prime website
Economic calendar
Educational content
Market news
FAQs section
Excerpts from reputable online resources regarding financial markets
Schedule of trading sessions
 
Margin levels

Comparison of Global Prime with other Brokers

Global Prime RoboForex Eightcap Exness FreshForex NPBFX
Trading
platform
MetaTrader4 MT4, MT5, R MobileTrader, R StocksTrader, R WebTrader MT4, MT5 Exness Trade App (mobile), Exness Terminal (web), MetaTrader5, MetaTrader4 MT4, MobileTrading MT4
Min deposit $200 $10 $100 $10 No $10
Leverage From 1:1
to 1:200
From 1:1
to 1:2000
From 1:30
to 1:500
From 1:1
to 1:2000
From 1:1
to 1:2000
From 1:1
to 1:1000
Trust management No No No No No No
Accrual of % on the balance No No No No No No
Spread From 0.1 points From 0 points From 0 points From 1 point From 0 points From 0.4 points
Level of margin call
/ stop out
120%  /  100% 60%  /  40% 80%  /  50% No  /  60% 40%  /  20% No  /  30%
Execution of orders Market Execution Market Execution, Instant Execution Market Execution Market Execution, Instant Execution Market Execution, Instant Execution Instant Execution, Market Execution
No deposit bonus No No No No $30 No
Cent accounts No Yes No No Yes No

Detailed review of Global Prime

Global Prime is an Australian broker, which has been operating in the financial services market for over 10 years. The company offers a rather wide range of trading instruments and has many clients worldwide. Global Prime is intended for English-speaking clients, and its website and tech support are in English only.

Global Prime by the numbers:

  • more than 10 years of operation in currency markets;

  • minimum investment amount is $200;

  • over 60 trading instruments.

Global Prime is geared towards both novice and professional traders.

Global Prime is a brokerage company that works directly with liquidity providers offering tight spreads. It provides access to a large number of trading instruments, including currency pairs, commodities, metals, indices, and cryptocurrency. The broker offers such types of passive investing as copy trading and affiliate programs.

All clients use the MetaTrader 4 trading platform and have access to over 50 technical indicators and chart plotting tools. The mobile app enables you to trade in currency markets with your phone from almost anywhere in the world.

Global Prime has the following useful services:

  • it’s browser version of MT4 does not need to be downloaded or installed on a computer or mobile device;

  • over 50 analytic tools;

  • financial market news.

Advantages:

1

ccess to passive investing with the МАМ service;

2

wide variety of trading instruments;

3

demo account;

4

tight spreads;

5

algorithmic trading with the use of advisers and copy trading;

6

affiliate programs.

The broker does not limit clients in their choice of trading strategies. You can use advisers, as well as hedging, order locking, and scalping.

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