No Bonuses or Promotions
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.
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.
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.
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.
Broker Global Prime Website URL https://www.globalprime.com.au/ firstname.lastname@example.org 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 Bonus No Bonuses or Promotions Leverage 500 Spread Variable Free Demo Account Open Demo Regulation ASIC Number of Assets 300+ US Traders Allowed 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 Score 0.0