Global Prime is an established Australian forex broker that has been in operation since 2010. It is regulated by two reputable financial authorities: ASIC (Australian Securities and Investments Commission) in Australia and VFSC (Vanuatu Financial Services Commission) in Vanuatu.
Global Prime provides traders with a choice of trading platforms. These include the popular MetaTrader 4 (MT4) trading platform, Trader Evolution Desktop, and the Trading View platform. These platforms cater to different trading preferences and levels of expertise.
Variety of Trading Instruments
Global Prime offers a diverse range of trading instruments to its clients. These include:
- Over 40 forex currency pairs
- Cryptocurrencies like Bitcoin and Ethereum
- Stock indexes
- Individual stocks as CFDs
This variety allows traders to diversify their portfolios and explore different markets.
Support for Different Trading Styles
Global Prime accommodates various trading styles, including:
- News spike trading
- Expert advisors
This flexibility caters to traders with different strategies and preferences.
Integration with Trading Tools
Global Prime offers integration with third-party trading tools such as ZuluTrade and MyFxBook CopyTrade. Additionally, it provides demo accounts for traders to test their strategies before trading live.
Global Prime is headquartered in Sydney, Australia, and operates under the name Global Prime Pty Ltd, holding an Australian Financial Services License from ASIC. It also has offshore branches in Vanuatu and Seychelles, each regulated by its respective authority.
Global Prime offers a wide range of trading instruments, including forex pairs, equity indices, commodities, cryptocurrencies, and shares listed on major stock exchanges. There are a total of 42 forex pairs available, catering to both major and exotic currency pairs.
Spreads and Commissions
As an ECN broker, Global Prime offers variable spreads that tighten as trading volumes and market liquidity increase. The spreads start from 0.0 pips on the most liquid FX pairs. Commissions vary based on the account currency and the type of lots traded (micro or standard).
Leverage levels depend on the regulatory entity under which a trader is registered. For the Australia-regulated branch, the maximum leverage is 1:30, while the Seychelles and Vanuatu branches offer higher leverage at 1:100.
Global Prime places emphasis on attracting financial institutions, hedge funds, and family offices as long-term clients. It offers customized solutions, potentially providing tighter spreads and lower commissions for these clients.
Global Prime primarily offers the MetaTrader 4 (MT4) platform to new traders, available on various devices. It also plans to support trading through the TradingView platform. Additionally, an advanced platform called TraderEvolution is available for active traders, professionals, and institutions.
Setting up an account with Global Prime is a straightforward process. Traders need to provide proof of identity and residential address. Once verified, clients are ready to start trading.
Deposits and Withdrawals
Global Prime accepts deposits and withdrawals in multiple currencies, including AUD, USD, GBP, EUR, SGD, and CAD. Deposits are free of charge, and processing times vary depending on the funding method.
Global Prime offers 24/5 customer support through various channels, including email, phone, live chat on their website, and an online message function. Responses are typically prompt.
Advantages of trading with Global Prime include:
- Regulated by reputable authorities
- A wide range of trading instruments
- Quick and simple registration
- Low forex fees
- Free deposits and withdrawals
Disadvantages of Global Prime include:
- Website available only in English
- No cent accounts
- News and reviews are in English only
- Minimum deposit requirement of $200
- Some users report slow customer support response times
Global Prime is a well-established forex broker that offers a variety of trading instruments, flexible trading platforms, and support for different trading styles. Traders can benefit from its low fees, regulated status, and customer-focused services, but it's important to consider the limitations, such as the language barrier and minimum deposit requirement, before choosing this broker.
Disclaimer: - We at forexoverflow do not endorse neither refer anyone to trading broker websites. The information is for educational purpose and source of information is from the broker website.