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Global Prime review and ratings

Established 2010
Location Australia Vanuatu
Regulation ASIC, VFSC
Offices Sydney, Port Vila
Broker type STP | ECN
Leverage up to 1:200
Deposit from 200 AUD
Spreads low  low
Platforms MetaTrader 4
Instruments Currencies Crypto Indices Metals Energies
Funding methods Wire Transfer Credit Cards Neteller Bpay Poli

Company information

Global Prime group includes 2 related companies.

Global Prime AU - located in Australia, regulated by the Australian Securities and Investments Commission (ASIC).
Global Prime VU - located in the Republic of Vanuatu, regulated by the Vanuatu Financial Services Commission (VFSC).

Availability

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.

Distinctive features

Trading instruments

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.
10 Indice CFDs Based on baskets of different blue-chip stocks.
2 Metal Spot CFDs Based on Gold and Silver.
2 Energy Spot CFDs Based on Crude Oil (WTI, Brent).

Comprehensive review

Global Prime is an online forex & CFD broker that is headquartered in Sydney, Australia. It is owned by a company known as Cleaneagle Securities, 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.

Update: In the summer of 2019, the company also started to operate in the Republic of Vanuatu and got regulated by the VFSC.

The broker offers a wide range of trading instruments for its clients, including a large variety of popular forex pairs, as well as CFDs based on equities, equity indices and commodities. In terms of forex, there is a total of 42 currency pairs available.

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, spreads are mid-range, and therefore not among the tightest in the industry. Further, the broker charges a trading commission of $7 per 1 lot traded round-turn, but it also makes it clear that large traders trading more than 1,000 lots per month may be able to negotiate a better deal.

The standard leverage offered by Global Prime is 1:100, although this can be increased up to a maximum of 1:200 after a review process that is carried out on a case-by-case basis.

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 most likely also includes tighter spreads and lower commissions that what is otherwise advertised on the website.

As its trading platform, Global Prime remains totally committed to the legacy platform MetaTrader 4 (MT4), which is offered in versions designed for Windows, Mac, Android, and Apple iOS devices. For now, no other trading platforms are available from this broker.

Global Prime offers its clients a standard all-in-one live trading account, in addition to a demo account for practice purposes. Setting up an account only require only 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. Currencies accepted for credit and debit card deposits are only AUD, USD, GBP and EUR, and all bank card transactions will incur an additional 3.25% charge by the broker. Keep in mind that withdrawals can only be made to the same card that was used to make the deposit. In terms of processing times, credit and debit card deposits will be processed instantaneously, while international bank transfers may take as much as 1-5 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, the broker can be reached via social media platforms Facebook and Twitter, which it also uses to keep followers updated important market-moving events and economic data releases.

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