Global Prime group includes 3 related companies.
Global Prime AU - located in Australia, regulated by the Australian Securities and Investments Commission (ASIC).
Global Prime SEY - located in the Seychelles, regulated by the Seychelles Financial Services Authority (SFSA).
Global Prime VU - located in the Republic of Vanuatu, regulated by the Vanuatu Financial Services Commission (VFSC).
Unfortunately, AU company has been imposed with trading leverage limitations by ASIC since the end of March 2021.
At the same time, SEY and VU companies are free from such restrictions.
Global Prime group accepts clients from all over the world, excluding USA, North Korea, Burma, Congo, Eritrea, Yugoslavia, Iran, Iraq, Lebanon, Liberia, Libya, Somalia, Sudan, Syria.
Forex broker offers the following underlying assets for trading.
|50+ Currency Pairs||Based on major and minor world currencies.|
|5 Crypto Pairs||Based on Bitcoin, Bitcoin Cash, Ethereum, Litecoin, Ripple.|
|12 Indice CFDs||Based on baskets of different blue-chip stocks.|
|5 Metal CFDs||Based on Gold, Silver, Platinum, Palladium and Copper.|
|3 Energy CFDs||Based on Crude Oil (WTI, Brent) and Natural Gas.|
|10 Soft CFDs||Based on Cotton, Corn, Coffee Arabica, Coffee Robusta, UK Cocoa, US Cocoa, Sugar, White Sugar, Orange Juice, Soybean.|
Global Prime is an online forex & CFD broker that is headquartered in Sydney, Australia. It is registered in Australia under the name Global Prime Pty Ltd, and holds an Australian Financial Services License issued by the Australian Securities and Investments Commission (ASIC), which strongly contributes to giving this broker an overall credible reputation.
Starting in 2019, the broker now also operates two offshore branches; one in the Republic of Vanuatu (VFSC regulation), and one in the Seychelles (SFSA regulation).
In terms of assets that are available, Global Prime offers a wide range of trading instruments for its clients, including a large variety of popular forex pairs, as well as CFDs based on equity indices, commodities, cryptocurrencies, and shares listed on the NASDAQ and New York Stock Exchange. In terms of forex, there are a total of 42 pairs available, ranging from popular major, minor, and exotic currencies.
As a pure ECN (electronic communications network) broker, spreads are variable with Global Prime, and as usual they get tighter as trading volumes and liquidity in the markets increase. Compared with other brokers, the spreads with Global Prime are fairly low, starting from 0.0 pips on the most liquid FX pairs.
Further, the broker charges trading commissions depending on the account currency and whether the user is trading micro lots or standard lots. For accounts denominated in US dollars, the micro lot commission is USD 0.07 per 1 lot round turn, while the standard lot commission is USD 7 per 1 lot round turn.
As with all forex brokers that are regulated in multiple regions, the amount of leverage available depends on which regulated entity a trader is signed up with. For traders using the Australia-regulated branch of Global Prime, the maximum leverage is 1:30, in accordance with the latest rules from ASIC. For traders signed up with the Seychelles or Vanuatu-based branches, however, the leverage fortunately goes much higher, and is currently limited to 1:100 with this broker.
Global Prime has put extra emphasis on attracting financial institutions, as well as hedge funds and family offices as long-term clients, and makes it clear that these types of clients will be offered customized solutions not available to the average retail trader. This also includes special institutional trading accounts, likely with possibility of getting tighter spreads and lower commissions than what is otherwise advertised on the website.
As its main trading platform, Global Prime offers most new traders the classic MetaTrader 4 (MT4) platform, which is offered in versions designed for Windows, Mac, Android, and Apple iOS devices.
In addition to MT4, the broker has announced that it plans to support trading directly via the TradingView platform, like many other brokers already do. Moreover, a separate trading platform is also available for clients categorized as active traders, professional traders, and institutions, known as the TraderEvolution platform. This is a more advanced trading platform than the standard MT4, with fully customizable charts and a whole range of advanced trading tools. Like MT4, TraderEvolution also has support for algorithmic trading, including coding and backtesting of custom trading strategies.
Global Prime further offers its clients a single standard all-in-one live trading account, in addition to a demo account for practice purposes. Setting up an account only requires two easy steps: Providing a proof of identity and proof of residential address, and the client will be ready for trading.
Deposits and withdrawals are accepted in AUD, USD, GBP, EUR, SGD, and CAD for bank wire transfers and most other funding methods, with zero fees charged by the broker for making deposits. In terms of processing times, credit and debit card deposits will be processed instantaneously, while international bank transfers may take between 1 and 5 business days.
Global Prime is dedicated to providing its clients with stellar customer service that is open 24 hours a day, 5 days a week. Clients are free to contact them via email, phone, or the live chat function on their website, where replies are almost instantaneous. There is also an online message function, as a substitute to sending an email, for clients to request help on trading and technical issues.
In addition to the above, the broker can also be reached via social media platforms Facebook and Twitter, which it also uses to keep followers updated on important market-moving events and economic data releases.