Global Prime Review 2024
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
- $200
- MetaTrader4
- VFSC
- ASIC
- 2009
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
- $200
- MetaTrader4
- VFSC
- ASIC
- 2009
Our Evaluation of Global Prime
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
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.
- reputable financial regulators;
- wide range of the most requested trading instruments;
- quick and simple registration.
- 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
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.
- 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.
- 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 |
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📊 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
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Trading Account Opening
To start trading with Global Prime and receive compensation through the Traders Union rebate service, do the following:
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.
After that, complete the registration by including your country of residence, first and last names, gender, email address, and create a password.
The following features are available in your user account:
User accounts also provide access to other useful features such as:
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analytic tools;
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client support;
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account settings;
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broker’s terms and conditions.
Regulation and Safety
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
Commissions & Fees
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 | |
|
$1 | |
|
$8.5 |
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:
Traders can also open demo accounts to get familiar with the trading platform and test trading conditions.
Deposit and Withdrawal
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Global Prime releases funds fairly slowly;
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The company does not charge withdrawal fees, but they can be charged by banks and payment systems;
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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);
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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;
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Withdrawals can be made in U.S. dollars, euros, British pounds, Singaporean dollars, Canadian dollars, and Australian dollars.
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.
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.
Additional Trading Tools
Global Prime assists clients in market analysis and building trading strategies. For these purposes, it provides:
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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.
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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.
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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.
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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.
Customer Support
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:
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by phone via the numbers included on the website;
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by email;
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via online chat.
Client support is available on the Global Prime website and in user accounts.
Contacts
Foundation date | 2009 |
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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
|
Education
Global Prime does not provide learning courses, only financial market news.
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:
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more than 10 years of operation in currency markets;
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minimum investment amount is $200;
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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:
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it’s browser version of MT4 does not need to be downloaded or installed on a computer or mobile device;
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over 50 analytic tools;
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financial market news.
Advantages:
ccess to passive investing with the МАМ service;
wide variety of trading instruments;
demo account;
tight spreads;
algorithmic trading with the use of advisers and copy trading;
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.
User Satisfaction