Global Prime

 Global Prime
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Overview

Global Prime is an Australian broker who provides its services worldwide. While the firm targets mostly Australian market, international clients are welcomed to open the account. However, the firm does not accept clients from Japan, USA or North Korea. They have been operating on the market since 2010. Their headquarters is situated in Sydney. They are regulated by ASIC which is leading Australian regulatory body.

Deposits and Withdrawals

The minimum amount to set up the account is 500 AUD or any equivalent foreign currency which is a little bit higher than the market’s average. This is due to the ECN-execution of one single account that is offered here. You can fund your account with any of the following currencies: AUD, USD, EUR, GBP, CAD or SGD. Deposits can be done in a wide range of payment methods like credit cards, wire transfer, and Neteller. Virtual or prepaid cards are not accepted. Withdrawals are linked to the payment method that you chose. There is no information on their website about how long the withdrawal procedure usually takes, it is only said that credit card
withdrawals are “fast” and wire transfers may take 1-5 business days to reach your bank account.

Trading

The firm offers one single account type to all its customers so that all are free to benefit from ECN-type order execution. Like most ECN brokers this firm also charges the commission, amounting to $7 round turn per standard lot, which is considered average in the industry. In turn, you are offered really tight spreads (around 0.5 pips on EUR/USD pair). The company uses MetaTrader 4 only and offers this platform on all mobile devices, including Android, Mac, Windows, and iOS. MT4 is well-known for its wide range of customization tools, useful charts, and in-build Expert Advisers which allow full automatization of trades.

Instruments

The company offers 42 currency pairs to its clients. Among them are the exotic ones like NZD/CHF, AUD/JPY, AUD/CHF and other. There are also CFD’s and precious metals offered for trading. Global Prime is primarily focused on the forex market, no cryptocurrency trading is available here. Broker welcomes all trading strategies, including scalping and news trading.

Conclusion

All in all, no choice of account types and trading platforms can be viewed as a disadvantage. Also, there are no cryptocurrencies available here which may prevent some traders from starting with this broker.

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    Broker Global Prime
    Website URL https://www.globalprime.com.au/
    Email forex@globalprime.com.au
    Founded 2010
    Headquarters Australia
    Support Number+612 8277 6611
    Trading Platform MetaTrader 4, Mobile Platform
    Minimum 1st Deposit$500
    Minimum Trade Amount 0.01
    Maximum Trade Amount 1000.0
    BonusNo Bonuses or Promotions
    Leverage 500
    Spread Variable
    Free Demo Account Open Demo
    Regulation ASIC
    Number of Assets300+
    US Traders Allowed No
    Swap Accounts No
    Segregated Accounts Yes
    Interest on Margin No
    PAMM Yes
    Platformtimezone (GMT +2:00) South Africa, Jerusalem
    Web Trading No
    API Yes
    OCO Yes
    Hedging Yes
    Trailing Stops Yes
    Contests No
    Other Instruments Stocks, Options, Futures, Indices, Commodities, Shares, CFDs
    Decimals 5 decimals
    Overall Score0.0

2 Responses to “Global Prime”

  1. I can describe my personal experience with Global Prime as average. The main 2 things I have to complain about are slow deposit processing and huge swap rates. I sent them a wire transfer when I made my initial deposit and it took 6 days for the transaction to reach them. As they explained me wire transfers from EU usually take 5-6 working days to reach them. Global Prime FX offers tight spreads up to 0.5 pips on EUR/USD pair, which is one of the most competitive spread offers that you can find on the market. Their swap rates, however, are just too high and it seems like they are trying to earn through them what they don’t earn with spreads. Customer service is their strong side, never had an opportunity to complain about response time and the efficiency of their support.

  2. Just for proof of good customer support, I’ve made a few fake phone calls to this broker… and what do you think? I’ve got very polite responses on all my fake concerns and questions about server disconnection. I actually have no real account but believe that’s where I should put my money for trading.

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