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Global Prime Review

Author By Jeffrey Cammack
Updated: December 2, 2021
Overall Rating
4.19 4.19 / 5
Min. Deposit
GBP 0
Regulators
Trading Desk
Trading Cost
USD 8
Website Language
English, Portuguese
Support Language
English
AlertAccepts British Clients. Average spread EUR/USD 0.10 pips on trading account with lowest minimum deposit. Max leverage 100:1. Global Prime offers support for the MT4 and TraderEvolution platforms. Global Prime is regulated by ASIC, the VFSC, and the FSA (Seychelles).

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Summary

With excellent trading conditions and a variety of trading tools, Global Prime appeals to traders looking for a new MT4 broker with a low-cost trading environment.

An ASIC-regulated broker, Global Prime’s trading conditions include some of the tightest spreads in the industry, with spreads that start at 0.10 pips on its commission-free account, low commissions on its ECN account, and no minimum deposit requirements. Global Prime also charges low non-trading fees, a welcome development in an industry in which fees are charged on almost every transaction.  

Global Prime offers support for the MT4 and TraderEvolution platforms, alongside a variety of trading tools, including FIX API, TradingView, Zulutrade, Myfxbook Autotrade, and VPS services.  However, traders should note that most of these tools are available at an extra cost.

While Global Prime provides excellent educational courses for beginner traders, it provides virtually no market analysis.  Additionally, in order to access the educational materials, traders will have to pay a fee of 299 USD and a monthly subscription of 50 USD.  

Reviews

Regulation
111104/ 5
Trading Conditions
11110.54.5/ 5
Trading Platforms
111104/ 5
Deposit & Withdrawal
11110.54.5/ 5
Education & Research
11110.54.5/ 5
Assets Available
11110.54.5/ 5
Customer Service
1110.503.5/ 5
Beginner Friendly
Excellent
Bonuses
None

Account Information

Base Currencies
AUD, USD, EUR, GBP, SGD, CAD
Number of FX Pairs
49
Copy Trading
Hedging Allowed
Scalping Allowed
Islamic Acct

Trading Conditions

Min. Spread
0 pips
Commission
7 USD / lot
EUR/USD
0.10 pips
GBP/USD
0.75 pips
USD/JPY
0.60 pips
Max. Leverage
100:1

Company Details

Company Name
Global Prime Pty Ltd
Founded
2011
Office Locations
Australia

Pros

  • Tight spreads
  • Excellent education

Cons

  • No swap-free account option

Is Global Prime Safe?

Yes, Global Prime is a safe broker for British traders to trade with.  It maintains regulation from ASIC, considered one the world’s best regulators, the FSA of Seychelles, and the VFSC of Vanuatu.  

Founded in 2010 and headquartered in Australia, Global Prime provides services to over 10,000 traders in 196 countries worldwide.  It maintains regulation from the Australian Securities and Investments Commission (ASIC) of Australia, the Vanuatu Financial Services Commission (VFSC), and the Financial Services Authority (FSA) Seychelles.  See below for more details:

  • Global Prime Pty Ltd, ABN 74 146 086 017, Global Prime holds an Australian Financial Services Licence (AFSL) to carry on financial services business in Australia, limited to the financial services covered by its AFSL no.385620.
  • Gleneagle Securities PTY Limited trading as Global Prime FX is a registered Vanuatu company (Company Number 40256) and is regulated by the VFSC.
  • Global Prime FX Ltd is a registered Seychelles company (Company Number 8426189-1) and holds a Securities Dealers Licence SD057 issued by the FSA.
British will be trading under the Global Prime subsidiary, Global Prime FX Ltd, regulated and authorised by the FSA.  

Unlike top-tier regulators such as the FCA and ASIC, the FSA does not mandate that companies segregate client funds, provide negative balance protection or participate in investor schemes. Global Prime does, however, segregate client funds from its operating capital in various banking institutions, and will not use customers’ funds in its operation or any other investment, ensuring their protection at all times.  It also provides all traders with negative balance protection.

Overall, because of its long history of responsible behaviour and strong international regulation, we consider Global Prime a safe broker to trade with. 

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Group Regulators
Trading Desk
Website
Year Founded
Office Locations
Inactivity Fee
ASIC
FSA-Seychelles
VFSC
ECN/DMA
2011
Australia
No

 

Global Prime’s Trading Fees

Global Prime’s trading fees are lower than other similar brokers.

Unlike other brokers that offer a range of account types with lower spreads linked to higher minimum deposits, Global Prime offers only two market-execution accounts with no minimum deposit. The commission-free account has the trading costs included in the spread while the ECN Account offers tighter spreads and a small commission per trade. For more details on Global Prime’s account types, click here.  

Both accounts are available on the Metatrader4 and the TraderEvolution trading platform (click here for more on Global Prime’s trading platforms).

Global Prime’s fee structure is transparent, and it publishes all the spread and commission costs associated with either account.

Global Prime’s accounts were assessed to compare the costs to those of other forex brokers. The costs were evaluated based on the trading fees on one lot (100 000 USD) on the EUR/USD, including the spreads and commission.

Trading Cost Formula: Spread x Trade Size + Commission = Cost in Secondary Currency (USD):

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Trading account
Min. Deposit
Min. Spread EUR/USD
Commission
Trading Cost (USD)
ECN
AUD 0
0.10
$7 per 1 lot
8.0

 

As you can see from the table above, the trading costs on the Commission-free Account are built into the spread and are marginally lower than the costs on the ECN Account, which has a small commission that changes depending on your base currency (more details can be found in the accounts section).

Global Prime‘s Swap Fees

Another important cost to consider is the swap rate charged on positions held overnight.   Interest is paid (or received) for each night a position is held.  In the case of Forex instruments, the amount charged depends on both the positions taken (i.e. long or short) and the rate differentials between the two currencies traded. Swap rates are driven by the interbank spread and cross-currency basis.  Global Prime’s swap rates are published on its website for each financial instrument. The following calculation can be used to work out swap fees:

Swap calculation = pip value x swap rate (in points) 

For example, the swap fee on a long position of EUR/USD is -5.07 USD, and -0.394 USD on a short position.

Overall, Global Prime has some of the lowest trading costs in the Forex trading industry. The average cost of trading one lot of EUR/USD is 9 USD at most other large brokers, so whichever account you choose will be lower-cost than most other brokers. In addition, Global Prime has no minimum deposit requirements, though it does recommend a minimum of 200 AUD or equivalent, making it a good choice for both beginner and experienced traders.

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Broker
Trading Conditions
Base Currencies
EURUSD (Standard)
Trading Cost (Standard)
EURUSD (Best)
GBPUSD (Best)
USDJPY (Best)
Commission
Global Prime
11110.54.5/ 5
AUD, USD, EUR, GBP, SGD, CAD
0.10 pips
USD 8
0.10 pips
0.75 pips
0.60 pips
USD 7
Axitrader
11110.54.5/ 5
AED, CAD, EUR, GBP, JPY, NZD, PLN, SGD, USD
1.20 pips
USD 12
0.00 pips
0.10 pips
0.10 pips
USD 0
FXTM
11110.54.5/ 5
EUR, USD, GBP
1.50 pips
USD 15
0.00 pips
0.20 pips
0.00 pips
USD 0

 

Non-trading Fees

Global Prime’s non-trading fees are lower than other similar brokers.

Some of the most overlooked trading costs are the non-trading fees that are charged by brokers.  These fees can significantly affect your profitability and so should be carefully scrutinised.

At Global Prime, no fees are charged for deposits or withdrawals, and Global Prime does not charge inactivity fees on dormant accounts.  Dormant accounts will, however, be closed after three months of account dormancy.

Overall, this is a welcome development in an industry that charges fees on most transactions.

Opening an Account at Global Prime

The account opening process at Global Prime is fully digital, fast, and hassle-free compared to other brokers. 

All British traders are eligible to open an account at Global Prime but will have to follow the fully digital five-step application process. 

Creating an account is straightforward, the process is fully digital, and accounts are usually ready within one day. Global Prime offers joint and individual accounts, but we will focus on opening an individual account:

How to open an account at Global Prime:

  1. New traders will have to click on the “Live Trading” button at the top of the page where they will be directed to choose their preferred base currency and country of residence. 

  2. Next, traders will have to register an account with their name, email, and register a password.  

  3. Global Prime’s intake form requires clients to fill in their personal details, including date of birth and mobile number. 

  4. Prospective traders are then required to fill in their physical addresses and review the account application details.

  5. Traders will then have to accept that they have read the Declaration and consent to identification verification.

  6. Once this step is complete, traders are asked to complete a short survey and FX Quiz that will help Global Prime assess the state of their finances and trading knowledge. While most brokers don’t include this step in the account-opening process, it is a responsible move in an industry that is often accused of an irresponsible approach to consumer protection.

  7. Global Prime needs at least two documents to accept you as an individual client:

    1. Proof of Identification – current (not expired) coloured scanned copy (in PDF or JPG format) of your passport. If no valid passport is available, a similar identification document bearing your photo such as an ID card or driving licence will work.

    2. Proof of Address – a Bank Statement or Utility Bill. Please ensure, however, that the documents provided are not older than 6 months and that your name and physical address is clearly displayed.

  8. We advise you to read Global Prime’s risk disclosure, customer agreement, and terms of business before you start trading. 

  9. Once the application is approved, traders can log in and fund their accounts.  

Compared to other similar brokers, Global Prime’s account opening process is fast, generally hassle-free, and fully digital, and accounts are ready for trading in one day.

Global Prime’s Accounts

Global Prime offers two accounts, which is average compared to other ECN brokers, and its accounts are suitable for both beginners and more experienced traders.  

Global Prime offers two simple ECN account types which are suitable for beginners and more experienced traders.  Trading is offered on multiple assets, including Forex, commodities, indices, bonds, cryptocurrencies, and equities (click here for more on Global Prime’s financial assets). 

Beginner traders are inexperienced traders who have never traded before, or who have been trading for less than a year.  Beginner traders often do not want to risk trading large sums of money and generally will not be able to trade full-time during the workweek. 

Accounts with lower minimum deposits and which allow trading in micro-lots are generally more suited to beginner traders.  Global Prime’s accounts have no minimum deposit requirements (although it recommends starting with an initial deposit of 200 AUD) and allow micro-lot trading.  

In general, experienced traders tend to prefer accounts with higher minimum deposits and tighter spreads. However, at Global Prime, this trade-off does not occur as both accounts have excellent trading conditions.

Trading infrastructure hosted within Equinix NY4 data centres that cross-connect to all trading counterparties for the lowest possible latency. Average fill times of just 30ms make Global Prime one of the fastest brokers in the world for Forex and Metals.

Due to ASIC regulation, Britishs can access leverage of up to 100:1 on major Forex pairs. Hedging, scalping, and algorithmic trading are unlocked on both accounts, but Global Prime does not offer Islamic Accounts.  See below for account details:

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Account Types
Min. Deposit
Max. Leverage
Min. Spread
Commission
ECN
AUD 0
100:1
0.10
$7 per 1 lot
Account Details

 

Commission-free Account

As the name suggests, the commission-free account has no commission and offers spreads that start at 0.10 pips on the EUR/USD, which is much tighter than other brokers. There are no minimum deposits on this account, but due to the margins required when making leverage trades, a minimum starting balance of 200 AUD is recommended. This account is better suited to beginner traders who do not want to spend time calculating commissions costs.  Micro-lot trading is also available on this account.

Commission-based ECN Account

The ECN Account is Global Prime’s raw spread account. Spreads average at 0.28 pips on the EUR/USD – which is extremely tight compared to other brokers.  However, a commission is charged per lot traded. As with the Commission-free Account, the minimum recommended deposit is 200 AUD.

On the ECN Account, commissions are charged differently depending on the preferred base currency of your account. See the table below for the commissions in a selection of common base currencies:

Global Prime's Commission

It’s also worth pointing out how cheap the commissions are with an AUD base currency. Given that (as of November 2021) the USD/AUD is currently at 1.39, the commission cost per lot with an AUD base currency is the equivalent of 5.03 USD – a substantial saving of around 2 USD per lot when compared to an account with a USD base currency.

Demo Accounts

Global Prime also offers a demo account with virtual funds that can be topped up on request. Demo accounts do not expire unless there is no activity on the account for more than 30 days, at which time they will be suspended.  However, they can be reactivated at any stage. Demo accounts are a great way to practice trading in a risk-free environment, and it gives traders an opportunity to familiarise themselves with MT4 and the TraderEvolution platforms.

Deposits and Withdrawals

Global Prime offers a wide range of funding methods, and deposits and withdrawals are free. 

In line with Anti-Money Laundering laws, Global Prime does not accept payments from third parties. Traders must ensure all deposits into their Global Prime trading account come from a bank account in the same name. Additionally, payments from a joint bank account will be accepted if the account holder is one of the parties on the bank account.

Global Prime accepts bank wire transfers, debit and credit card payments, and various e-wallet payment methods, including Skrill, Neteller, fasapay, Paypal, Bitwallet, Dragonpay, Bpay, and Poli, among others.  No fees are charged for deposits or withdrawals, but traders should note that intermediary fees apply.  Additionally, while most deposits, except for bank wire transfers, reflect immediately, withdrawals are processed within 1 – 10 days, which is slower than the industry average.  See below for more details:

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Funding Method
Base Currency
Deposit Fees
Withdrawal Fees
Processing Time
Bank Transfer
USD, AUD, GBP, EUR, SGD, CAD
None
Intermediary Charges
Deposits and withdrawals are processed within 1 - 2 days (Australia) and 3 - 5 days (International).
BPay
AUD
None
No withdrawal allowed
Deposits are processed within 24 - 48 hours.
Fasapay
USD, AUD, GBP, EUR, SGD, CAD
None
No withdrawal allowed
Deposits are instant.
Mastercard
USD, AUD, GBP, EUR, SGD, CAD
None
None
Deposits are instant, withdrawals are processed within 1 - 10 days.
Neteller
USD, AUD, GBP, EUR, SGD, CAD
None
None
Deposits and withdrawals are instant.
Paypal
USD, AUD, GBP, EUR, SGD
None
No withdrawal allowed
Deposits are instant.
POLi
AUD
None
No withdrawal allowed
Deposits are instant.
Skrill
USD, AUD, GBP, EUR, SGD, CAD
None
No withdrawal allowed
Deposits are instant.
Visa
USD, AUD, GBP, EUR, SGD, CAD
None
None
Deposits are instant, withdrawals are processed within 1 - 10 days.

Deposits can be made from inside the Client Portal. Not all deposits made will be reflected in your account immediately. Check your Statement within the Client Portal for the current status of your deposits. Refer to the Deposit Methods table for more detailed information.

Base Currencies (Trading Account Currencies)

Global Prime offers 6 base currencies, an average range compared to other forex brokers, and offers accounts denominated in GBP.  

Global Prime offers a reasonable range of base currencies, including AUD, USD, CAD, SGD, EUR, and GBP, which is good for British who will likely have GBP bank accounts. British traders will therefore be able to avoid paying conversion fees, unless trading on instruments with other base currencies, such as the EUR/USD.

In this case, it is better for traders that trade in large volumes (more than 10 lots a month) to open an account denominated in USD at a digital currency bank. This is because when trading a USD quoted currency pair with a GBP account, there will be a small conversion fee for every trade made.

Overall, Global Prime offers an average range of base currencies compared to other brokers, and offers accounts denominated in GBP.

Trading Platforms

With support for MT4 and TraderEvolution, Global Prime’s platform support is average compared to other brokers.  

Global Prime offers support for two third-party platforms – MT4 and TraderEvolution.  Both are available on PC but not Mac and allow for a smooth trading experience with all the necessary trading tools and resources on hand to conduct research and analysis, enter and exit trades, and use third-party automated trading software.

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Broker
Platform Choice
Copy Trading
Platforms
Global Prime
111104/ 5
TraderEvolution
Axitrader
111104/ 5
FXTM
11110.54.5/ 5

Metatrader4 (MT4)

While not the most beginner-friendly software, MT4 has been the industry-standard platform for trading Forex and CFDs since 2005. Its intuitive interface and user-friendly environment provide essential tools and resources for successful online trading.    Features of the MT4 include:

  • A built-in library of more than 50 indicators and tools to streamline the analysis process.
  • An impressive array of analytical tools, available in nine timeframes for each financial instrument.
  • Live price streaming on live accounts and demo accounts 128-bits encryption for secure trading
  • Algorithmic trading, which allows any trading strategy to be formalised and implemented as an Expert Advisor. 
  • Customisable alerts
  • Access to MetaTrader market and MQL4 community 

Traders should note that TradingView is not available on the MT4 platform, but traders have access to Myfxbook Autotrade, Zulutrade, and VPS services

TraderEvolution

Relatively new on the market, TraderEvolution platform caters to professional traders seeking more advanced functionality for order entry, analysis, and algorithmic trading.  The platform integrates directly with TradingView to provide extensive technical analysis.  Other features of TraderEvolution include:

  • 14 fully customisable chart types
  • Multiple time frames
  • Ability to view market depth
  • One-click trading

Traders should be aware that while TradingView is available on TraderEvolution, the VPS and social trading platforms are only available on MT4.

Global Prime TraderEvolution

Overall, although Global Prime only offers the MT4 and TraderEvolution platforms, which are not as beginner-friendly as the proprietary platforms offered at other brokers, MT4 is considered one of the best third-party platforms in the industry.  Additionally, TraderEvolution offers excellent functionality and integrates with TradingView to provide extensive technical analysis.  

Mobile Trading

Global Prime’s mobile trading platforms are average compared to other similar brokers.  It offers mobile versions of MT4 and TraderEvolution, but no proprietary mobile trading solutions.  

Global Prime offers support for MT4 and TraderEvolution mobile trading apps for Android and iOS. 

Traders should be aware that there is some loss in functionality when compared to the desktop trading platforms, including reduced time frames and fewer charting options, but traders can close and modify existing orders, calculate profit and loss, and trade on the charts. 

Trading Tools

Global Prime offers an average range of trading tools compared to other similar brokers.

Global Prime’s range of trading tools includes TradingView, complimentary VPS services, Myfxbook Autotrade, Zulutrade, FIX API, and a PIP Profit calculator.  

TradingView

Global Prime’s TradingView integrates directly with the MT4 trading platform.  TradingView is free of charge for traders who open a live account on TraderEvolution.  It is an excellent tool for researching, charting, and screening any instrument.  Additional features of Global Prime’s TradingView tool include:

  • 50+ intelligent charting tools
  • Over 100,000 custom user-built indicators and scripts
  • Synchronised layout for multiple charts

VPS

Available on MT4, Global Prime offers a free VPS service to traders who trade over 20 lots per month. The service is offered through two third-party providers – ForexVPS and Beeks.   VPS services ensure trades are never disrupted by technological or connectivity issues, such as load-shedding or internet service failure, which is a benefit to algorithmic traders who need to be connected to a server 24/7 to maximise uptime.  Other benefits of the VPS service include:

  • 24/6 VPS email support
  • 24/7 Redundant power to your VPS
  • 24/7 Redundant internet connectivity to your VPS
  • Low latency connectivity to FP Markets trading servers for precision trading
  • Uninterrupted EA trading

Clients trading less than the required volume will receive the discounted VPS rate charged to their MT4 account on a monthly basis. If there is insufficient balance available in the client’s account to charge for the VPS, the VPS will be cancelled.

Myfxbook Autotrade

Myfxbook Autotrade is one of the most popular copy trading platforms on the market. This service allows you to copy the trades of any system you select directly into your Global Prime MetaTrader 4 account.  Traders will have to contact MyFXbook Autotrade to find out about the charges associated with using the service.

One of the benefits of using the Myfxbook Autotrade copy trading platform is its functionality. It offers multiple copy trading modes and there is no limit on the number of Strategy Providers that can be followed.  

On the whole, copy trading is useful for traders who are interested in the financial markets but lack the experience and knowledge. 

Zulutrade

Zulutrade, a third-party platform, is a peer-to-peer social trading application where traders can choose among thousands of registered traders from 192 countries.  Traders are ranked using “ZuluRank” according to a number of different metrics, including their overall performance, stability, maturity, exposure, and minimum equity required. 

ZuluTrade linking is available under the following conditions:

ZuluTrade charges a subscription fee of 30 USD per month, and it charges 25% in monthly profits.

Like Myxfbook Autotrade, Zulutrade is an excellent option for traders who want to trade on the markets but lack the experience and knowledge to do so.

FIX API

The Global Prime FIX API solution is designed for professional traders looking to deploy their proprietary algorithmic trading solution with the lowest possible latency.

The FIX (Financial Information exchange) protocol provides traders with real-time communication between client, trader, investment fund or broker, and liquidity provider.

The API gives clients complete control over data that is sent and received without needing intermediary software.

In order to use these services, traders will have to maintain an account balance of 25,000 USD.  Additionally, traders will have to pay 2,000 USD in commissions per month – commission may be negotiated but the minimum commission will stay the same.

PIP Profit Calculator

A Forex Profit Calculator is a tool that can be used to help you figure out how much money and pips would be made, or lost, in a trading position. To find this information, you input values into the calculator for the trade and it will simulate what would happen if you closed your position with profit or loss. 

Overall, Global Prime offers a good range of trading tools, butTradingView is only available on TraderEvolution, while the VPS and copy/social trading platforms are only available on MT4.

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Autochartist
Trading Central
Trading View
Axitrader
FXTM

Global Prime’s Financial Instruments

Global Prime offers a limited range of tradable assets compared to other large international brokers, but its Forex offering is decent.

Global Prime’s range of financial instruments for CFD trading (click here for more details on CFD trading), include Forex, share, metals, commodities, bonds, and indices:

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Financial Instrument
Number of Assets
Leverage
Commodities
23
100:1
Cryptocurrencies
5
1:1
Forex
49
100:1
Indices
20
100:1
  • Forex: Global Prime has over 49 currency pairs available for trading, an average range compared to other CFD providers, including majors (EUR/USD, GBP/USD, and USD/JPY) and minors (NZD/CAD, EUR/JPY, and USD/ZAR), and exotics. 

  • Share CFDs: Global Prime offers 101 share CFDs on the NYSE and NASDAQ, which is slightly limited compared to other similar brokers.  Share CFD trading is only offered on the TraderEvolution platform.   

  • Indices: Limited compared to other brokerages, there are only 20  indices available for trading at Global Prime. The most popular indices are those that combine the shares of some of the largest and globally acknowledged companies.  

  • Commodities: Global Prime offers trading on 23 commodities, an average range compared to other brokers.  Commodities include metals such as gold and silver, energies such as natural gas and oil, and softs such as cotton and wheat.  

  • Cryptocurrencies: Global Prime offers only 5 cryptocurrencies for trading, including Bitcoin, Bitcoin Cash, Ethereum, Litecoin, and Ripple, which is a limited range than is available at other brokers.

  • Bonds: Global Prime offers trading on 7 bonds. Bond CFDs give you the ability to trade the world’s most liquid, popular, and largest government bonds from the US, UK, Europe, and Japan. 

Overall, Global Prime offers a limited range of tradable instruments on MT4, but it offers a wider range of bonds than is typically available at other brokers.

Global Prime’s Educational Materials

Global Prime’s educational materials are excellent compared to other brokers, but unlike other brokers, traders will have to pay a fee to access these materials.

Global Prime offers the Trading Academy, available for a once-off fee of 299 USD.  This fee grants traders access to the course (on over 30+ lessons) and discord room for 30 days. Thereafter a fee of 50 USD per month applies.  The Trading Academy is facilitated by Ivan Delgado, who has been trading the markets for more than a decade and contributes as the resident Market Insights Analyst at Global Prime.

The Trading Academy course covers the following topics: 

  • Trading Psychology
  • Trading models
  • Decision-making
  • Selecting markets to create watchlists
  • Risk Management
  • Exclusive access to trade setups channel.
  • Feedback & setups via interactive videos.
  • All Ivan’s favorite patterns that act as trigger mechanisms to take trades.

Global Prime also has an established YouTube channel with over 300+ videos. Content includes educational short-form videos and podcast videos featuring founders and the leadership team.

Overall, Global Prime’s educational materials are comprehensive and in-depth and cater to traders of all experience levels.  One drawback is that the materials are available at an extra cost to the trader.

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Broker
Beginner Course
Advanced Course
Axitrader
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Global Prime’s Market Analysis Materials

Global Prime’s market analysis materials are limited compared to other large international brokers

Global Prime’s market research materials are limited compared to what’s available at other large international brokers, but it does offer the services of TradingView to all clients who register an account.  TradingView is an independent company tool recommended for new traders wanting to learn technical analysis or those that want an independent opinion on their trades. 

Most other brokers provide a daily, updated market analysis blog featuring all the latest market movements, which is unavailable at Global Prime.  

Overall, Global Prime’s market analysis section is limited in scope. It could improve its market analysis materials by providing comprehensive, regularly updated, and multi-format content.

Customer Support

Global Prime’s customer support is available 24/5 via live chat, email, and telephone – though telephone support requires calling an Australian number, and you will be charged accordingly.

Because Global Prime is based in Australia, customer service is open from 22:00 (GMT) Sunday until 22:00 (GMT) Friday. 

We found the customer service responsive (our questions were answered immediately), polite, and very knowledgeable.   

Evaluation Method

We value transparency and openness in the way we review the partners. To bring transparency to the forefront, we have published our review process that includes a detailed breakdown of how we review Global Prime’s product offering. Central to that process is the evaluation of the broker’s reliability, the platform offering of the broker, and the trading conditions offered to clients, which are summarised in this review. Each one of these is graded, and an overall score is calculated and assigned to the broker.

Global Prime’s Risk Warning

Trading Forex is risky, and each broker is required to detail how risky the trading of Forex CFDs is to clients. Global Prime would like you to know that: Trading derivatives are high risk. Losses can exceed your initial investment. You should only trade with money you can afford to lose. Any information or advice contained on this website is general in nature and has been prepared without taking into account your objectives, financial situation, or needs. Past performance of any product described on this website is not a reliable indication of future performance. You should consider whether you’re part of our target market by reviewing our Target Market Determination, and read our PDS and other legal documents to ensure you fully understand the risks before you make any trading decisions. We encourage you to seek independent advice if necessary. 

Overview

An ECN broker, Global Prime is a trustworthy and well-regulated broker.  It offers competitive, variable spreads on two live accounts and charges no commissions, inactivity, withdrawal, or deposit fees.

Global Prime’s trading platforms include MT4 and TraderEvolution, with advanced automated trading functionality, alongside an extensive suite of trading tools.  While Global Prime’s educational materials are excellent compared to other similar brokers, it lacks market analysis, and trading is offered on a limited selection of tradable assets.  

AlertAccepts British Clients. Average spread EUR/USD 0.10 pips on trading account with lowest minimum deposit. Max leverage 100:1. Global Prime offers support for the MT4 and TraderEvolution platforms. Global Prime is regulated by ASIC, the VFSC, and the FSA (Seychelles).
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Overall Rating
Min. Deposit
Regulation
Trading Desk Type
Trading Instruments
Forex Pairs
Crypto Pairs
Pros
Cons
Regulation
Trading Conditions
Trading Platforms
Deposit & Withdrawal
Education & Research
Assets Available
Customer Service
% Lose with this broker
Leverage
Spread
Hedging
Scalping
Account Types
Islamic Acct
Trading Platforms
Funding Methods
Trading Commission
11110.54.19/ 5
GBP 0
ASIC Regulated Brokers
The Seychelles Financial Services Authority
Vanuatu
ECN/DMA
Forex
Indices
Commodities
Stock CFDs
Bonds
49
5
  • Tight spreads
  • Excellent education
  • No swap-free account option
111104/ 5
11110.54.5/ 5
111104/ 5
11110.54.5/ 5
11110.54.5/ 5
11110.54.5/ 5
1110.503.5/ 5
0 of retail investor accounts lose money when trading CFDs with this provider
100:1
0 pips
ECN
Institutional
TraderEvolution
Bank Transfer
Visa
Neteller
Skrill
Mastercard
Paypal
Fasapay
BPay
POLi
7 USD / lot
11110.54.34/ 5
GBP 5
FCA Regulated Forex Brokers
ASIC Regulated Brokers
DFSA Regulated Forex Brokers
ECN/DMA
Forex
Commodities
Cryptocurrencies
Indices
Stock CFDs
Metals
WTIs
70
6
  • Low minimum deposit
  • Wide range of assets
  • Well regulated
  • Tight spreads
  • Poor customer service
  • Limited demo account
11110.54.5/ 5
11110.54.5/ 5
111104/ 5
11110.54.5/ 5
11110.54.5/ 5
11110.54.5/ 5
111104/ 5
75.6% of retail investor accounts lose money when trading CFDs with this provider
30:1
0 pips
MT4 Pro Account
MT4 Standard Account
Visa
Mastercard
Maestro
Skrill
Neteller
Bank Transfer
7 USD / lot - PRO account
11110.54.33/ 5
GBP 10
CySEC Regulated Brokers
FCA Regulated Forex Brokers
Financial Services Commission
ECN/DMA
Market Maker
Commodities
Cryptocurrencies
Forex
Indices
Metals
Stock CFDs
62
3
  • Good for beginners
  • Excellent education
  • Well regulated
  • Low minimum deposit
  • Copy trading accounts
  • Expensive withdrawals
111104/ 5
11110.54.5/ 5
11110.54.5/ 5
111003/ 5
111115/ 5
11110.54.5/ 5
111115/ 5
81% of retail investor accounts lose money when trading CFDs with this provider
30:1
0 pips
Advantage
Advantage Plus
Micro Account
Bank Transfer
Visa
Mastercard
Maestro
Skrill
Neteller
Bitcoin
Unionpay
From 4 USD / ECN Accounts
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