| Updated: November 19, 2024Global Prime is a brokerage firm that was founded in 2010, and just a year later, the ribbon was cut and the broker welcomed its first clients. In just 13 years, the brokerage firm has considerably expanded its operations, so much so that today, the company services thousands of traders from all parts of the globe.
Global Prime aims at providing trading services that are easily accessible and, because of this, clients of the brokerage will benefit from super-low trading costs and will have an extensive range of products at their disposal. With no minimum requirements for the account size and leverage of up to 100:1, Global Prime is clearly a broker that traders might be willing to give a chance.
The broker knows that diversity is of paramount importance for traders, especially when it comes to the covered markets. Although Forex trading is Global Prime’s specialty, the broker also facilitates trading bonds CFDs, indices, cryptocurrencies, commodities, and indices. The broker relies on MetaTrader 4, which is a trading platform of choice for many traders. To ensure that Global Prime will be an all the more preferred financial services provider, the broker plans to make available more platforms like cTrader and TradingView, and MetaTrader 5 soon.
Global Prime’s formula for success also includes providing traders with a sufficient range of options to pick from when it comes to account types. In addition to Raw and Standard accounts, clients of the brokerage can also set up a demo account and get a feel for everything on offer.
The brokerage is authorized to deal in foreign exchange contracts, derivatives, and securities, and Aussie traders are not the only ones who can gain access to its services. The broker has obtained licenses from the Australian Securities & Investments Commission (ASIC) and the Vanuatu Financial Services Commission (VFSC).
The broker sets a great store by the protection of its clients’ funds, and to ensure that they are properly safeguarded, Global Prime keeps them separately from the company’s funds.
Regulations
Global Prime is a broker with extensive experience under its belt that is authorized to deal with foreign exchange contracts, securities, and derivatives to wholesale and retail clients. The services Global Prime offers are mainly geared toward the needs and requirements of traders from Australia, and in order to operate in the jurisdiction, the broker has acquired a seal of approval from the Australian Securities & Investments Commission.
Today, Global Prime is one of the highest-rated brokerage firms, and in order to cater to traders from jurisdictions other than Australia, the broker has obtained a stamp of approval from the Vanuatu Financial Services Commission. Global Prime is owned and managed by Global Prime Pty Ltd., a company headquartered in South Yarra 3141 Australia.
Because of local laws and regulations Global Prime needs to abide by, the broker is not allowed to accept clients from multiple jurisdictions, including Myanmar, Congo, Iran, Iraq, North Korea, New Zealand, Somalia, Sudan, Russia, Syria, Palestine, Ukraine, the United States and its territories, Ontario, and Yemen.
Trading Instruments
Global Prime seeks to offer trading services that are a cut above the services its rivals provide and to attain this, the broker gives its clients a wide array of instruments to trade with. As we said already, the foreign exchange market is the broker’s specialty, but Global Prime is also a go-to broker if traders are keen on trading commodities, cryptocurrencies, bonds, indices, or prefer index trading.The range of the offered tradable instruments mirrors the broker’s desire to provide traders with world-class services. Customers of the brokerage will not only be given quick and easy access to some of the world’s most liquid markets but will also get such no matter the time or the place.Forex
The foreign exchange market is Global Prime’s thing, and the broker gives traders access to some of the most popular currency markets. Trading Forex with the broker goes with a number of benefits, and among the main reasons why traders might prefer Global Prime is the considerably lower pricing. Another thing traders should keep in mind is that the account type they will choose to use will not limit their access to the foreign exchange market, as Standard and Raw account users are all allowed to trade Forex.
Clients of the brokerage firm are given access to a wide array of fx pairs, including minor, major, and currency pairs. Traders can go long or short on Forex trades, and start small with micro lots. Traders need to know that the maximum leverage they can be offered when trading Forex is 100:1, but this only applies to the Vanuatu license. The leverage for major currency pairs can reach up to 30:1 and up to 20:1 for minor currency pairs under the ASIC license.
Traders who register with Global Prime can trade major currency pairs like USD/CHF, AUD/USD, USD/CAD, GBP/USD, and EUR/USD. The minor currency pairs clients of the brokerage can trade include AUD/CAD, AUD/CHF, AUD/JPY, AUD/NZD, EUR/AUD, GBP/AUD, NZD/CAD, and NZD/USD, to name a few.
Exotic currency pairs are also readily available for customers of the brokers to trade with, and if such options appeal to traders, they can decide between AUD/SGD, CHF/SGD, EUR/HUF, EUR/NOK, GBP/SEK, NOK/SEK, and SGD/JPY, among others.
Cryptocurrencies
Depending on their preferences, traders can also use Global Prime as their cryptocurrency CFDs provider. It is easy to see why the brokerage is such a good choice for traders who are interested in cryptocurrencies as Global Prime gives them access to more than 35 coins with 0.1% commission. The broker gives its customers the opportunity to trade on a margin with considerably lower costs, especially when compared to the costs they will face while using most crypto exchanges available out there.
Clients of the brokerage are allowed to experience low-cost trading at its finest, no matter if they prefer to trade BTC/USD, ETH/USD, DOGE/USD, BNB/USD, BCH/USD, or XRP/USD.
The maximum leverage for cryptocurrencies the broker has introduced is 5:1 under the Vanuatu license. Traders who access the brokerage under the ASIC license will benefit from leverage of up to 2:1. One of the biggest benefits of trading cryptocurrencies is that traders are not required to comply with any requirements regarding trading hours as these options are available around the clock. Another great thing about the brokerage is that traders can learn the intricacies of cryptocurrency trading while using a demo account.
Commodities
Traders who set up an account with Global Prime are also allowed to trade commodities with tight spreads. The broker goes the extra mile to ensure that the offered pricing is sharp enough across all the offered products, including popular commodities like gold, natural gas, corn, and coffee, among others. It is hardly a coincidence that commodities are so preferred by traders because of their low cost and because they pose as a great way to diversify their portfolios. Last but not least, clients of the brokerage might choose commodities because they provide protection from the effects of inflation.
The upper limit on the leverage Global Prime’s clients will be offered when trading commodities under the VFSC seal of approval, excluding gold, is 100:1. When trading commodities under the ASIC license, traders will not benefit from leverage higher than 10:1. If trading gold is what traders want to go for, the maximum leverage that can be offered to them is 20:1.
Bonds
Global Prime’s range of bonds makes it possible for its clients to trade the world’s most popular, liquid, and largest government CFDs with competitive margins and no commission. Not to mention the low minimums. If clients of the brokerage are ready to start trading bonds, they will be allowed to decide between UK gilts and US treasury CFDs.
Bonds are so preferred because they provide a lower level of volatility and better protection. Besides, bonds trading is far more transparent. The minimum order distance for all account types when trading bonds is zero, while the margin call is 120%. Scalping is allowed no matter if traders will access the broker under the ASIC or VFSC license.
Indices
If traders are after tight spreads and lightning-fast execution, then they are bound to like Global Prime’s index CFD offering. To derive a fast and sharp price across the range of index CFDs, the broker relies on specialist non-bank market makers. Some of the most popular indices clients of the brokerage will gain access to include UK100, GER40, S&P 500, and GER40.
While trading indices with Global Prime, traders will be able to get exposure to the entire market sector at once and will be able to speculate on a group of shares for less when compared to the costs of trading them individually.
One of the biggest benefits of trading commodities with Global Prime is that traders will not be required to pay a commission. Additionally, traders are given the opportunity to go long and short on indices and benefit from leverage of up to 100:1. The maximum leverage traders from Australia will be offered when trading indices is 20:1.
Trading Platforms
Obviously, the satisfaction of its clients is a top priority for Global Prime, and in order to ensure that its customers will have a reason to keep on returning, the broker combines market-leading trading conditions with some of the most preferred trading platforms. No matter which platform traders might decide to use, they will invariably be offered a massive range of assets to pick and choose from and incredibly low costs.
Another thing traders might be happy to know about Global Prime is that the broker is scalper, EA, and hedging-friendly.
 Platforms |
 PC / MAC |
 Smartphones |
 Tablets |
|---|---|---|---|
| MetaTrader 4 |   |   | |
| MetaTrader 5 | |||
| cTrader |
MetaTrader 4
To offer an unrivaled trading experience, the broker has combined its lightning-fast execution and market-leading pricing with MetaTrader 4, which is one of the world’s most popular trading platforms that is even considered a benchmark for retail trading. Known by many traders, MetaTrader 4 is one of the most used trading platforms that is offered by a huge number of brokers, Global Prime included.
One of the biggest benefits of using the platform is that it is accessible on desktop and portable devices through downloadable clients and using its web version. If traders prefer to place orders and monitor them on their desktop devices, they can download and install MT4 on their computers using the download link in the GP Hub under the platforms section.
While using MT4 for Mac, traders will benefit from a user-friendly and customizable interface that will give them the confidence they might need when they are about to access global markets. When traders access the platform on their Mac-powered devices, they will be able to access the full range of products the broker offers and benefit from the fastest one-click trading. Besides, traders are offered full EA functionality, three types of convenient charts, and technical analysis tools.
The platform is surprisingly simple to use by total novices but it still offers a wide-enough range of features to meet the needs of traders with vast experience as well. The reasons why traders might pick MetaTrader 4 as their platform of choice are aplenty, and one of its biggest advantages is that traders can customize it according to the way they trade.
Additionally, clients of the brokerage are given a choice from more than 1000s of trading tools to plug into MT4. Traders will also discover statistically significant market movements and can trade 24/5, thanks to the automated trading tools on offer.
MetaTrader 4 for Android and iOS
Global Prime spares no effort to meet the requirements of all its clients, including those who insist on having the freedom to trade no matter the time or the place. To get the dedicated apps, traders should use the links that will take them to the App Store and Google Play.
Clients of the brokerage can trade with Global Prime on devices running on Android and iOS without missing out on key functionalities. While being on the go, traders will still be offered the chance to pick from demo and live accounts. Additionally, they will be offered full transaction history and journal, three types of charts, more than 50 indicators, economic calendar, and MetaQuotes trading signals.
Both apps make it possible for clients of the brokerage to place and monitor their trades like a breeze. Additionally, while being out and about, traders will be able to analyze the market and make better decisions using news and technical indicators.
What traders should bear in mind if they are about to start trading on the go is that using Expert Advisors (EA) is not possible on handheld devices. Adding or using EA is only possible on desktop devices.
WebTrader
Global Prime’s main goal is to make trading as easy as possible for all its clients, including the ones who want to save themselves the hassle of downloading and installing an extra piece of software when they want to get started. The broker’s WebTrader for MT4 allows users of the brokerage to place their orders straight from the browsers of their devices, no matter if they have Windows, Mac, or even Linux-run devices. All they need is a stable Internet connection.
The broker is perfectly aware that agility matters to traders and gives them the opportunity to execute all their operations with ease WebTrader for MT4. Its interface is incredibly user-friendly and fully customizable and while using WebTrader, customers of the brokerage will benefit from nine timeframes, three chart types, trading history, and 30 indicators.
Other Platforms
Global Prime aims at enhancing the offered services and because of this, the broker promises to expand the range of options and add several other trading platforms. When traders navigate to the platforms section, they will notice that TradingView, MetaTrader 5, and cTrader will also soon be made available as well.
Payment Methods
One of the principles the broker adheres to while offering its services is to make them accessible to an as wide client base as possible, and the choice of currencies goes to prove this. While setting up their accounts, traders are given a choice from base account currencies like USD, AUD, GBP, EUR, CAD, SGD, and JPY.
The assortment of accepted payment solutions, whether extra fees are charged, and the speed at which deposits and cashouts are executed are also among the top qualities of premium brokers, and Global Prime is aware of this. Traders are given a slew of ways to fund their accounts and make withdrawals, thus ensuring that they will be able to find a payment that allows them to move their funds to and from the brokerage with ease.
Visa and Mastercard are accepted for all clients of the brokerage who prefer to carry out their payments using their debit or credit card. The choice of digital wallets is also quite extensive, and Global Prime clients are allowed to top up their accounts and withdraw their funds using PayPal, Neteller, Skrill, and Jeton. Traders who prefer to use cryptocurrencies will also be in for a treat as they are offered as a funding and withdrawal method.
Other banking options customers of the brokerage firm can go for when making payments include QR Code, POLi, AstroPay, Bpay, bank transfer, BinancePay, Perfect Money, and Interac Online, among others. It is important to note that some of these payment processors are country-specific and therefore, whether traders will be able to use them or not will depend on their country of residence.
With almost all of the accepted deposit methods, traders will benefit from instant funding, and the least amount they will be allowed to add to their accounts per payment is $10. Yet, if they prefer to use payment processors like AstroPay, Bpay, or POLi, they will be able to deposit a minimum of $1.
The least withdrawal amount at Global Prime is $10, no matter which payment method traders will go for. Naturally, cashouts take more time to clear, and especially if traders opt for card payments or bank transfers as these might take up to five days to clear. Cashouts through digital wallets are completed almost immediately after they are approved by the broker’s finance department. One of the brag-worthy features of the brokerage is that Global Prime does not charge extra fees on deposits and cashouts.
| Brand | Minimum | Fees | Processing Time |
 | $10 | Free of charge | Instant |
 | $10 | Free of charge | Instant |
 | $10 | Free of charge | Up to 5 days |
 | $10 | Free of charge | Instant |
 | $10 | Free of charge | Instant |
 | $10 | Free of charge | Instant |
 | $10 | Free of charge | Instant |
 | $1 | Free of charge | Instant |
 | $10 | Free of charge | Instant |
 | $1 | Free of charge | 24-28 hours |
 | $10 | Free of charge | Instant |
 | $10 | Free of charge | Instant |
 | $10 | Free of charge | Instant |
 | $1 | Free of charge | Instant |
 | $10 | Free of charge | Up to 3 hours |
 | $10 | Free of charge | Instant |
 | $10 | Free of charge | Instant |
 | $10 | Free of charge | Instant |
| Brand | Minimum | Fees | Processing Time |
| $10 | Free of charge | 1-5 Business Days |
| $10 | Free of charge | 1-5 Business Days |
| $10 | Free of charge | 1-2 Business Days |
| $10 | Free of charge | Instant |
| $10 | Free of charge | Instant |
| $10 | Free of charge | Instant |
 | $10 | Free of charge | 1-2 Business Days (AU); 3-5 Business Days (Int.) |
| $10 | Free of charge | Instant |
| $10 | Free of charge | Instant |
| $10 | Free of charge | 1-2 Business Days |
| $10 | Free of charge | Instant |
| $10 | Free of charge | 1-3 Business Days |
 | $10 | Free of charge | Instant |
Account Types
Global Prime users are allowed to register for two types of accounts, depending on whether they already have some experience under their belts or not. While rookie traders can register for a demo account, traders with more experience can decide between a Standard and Raw account. Islamic accounts will also be within reach while trading with the brokerage.
As we explained earlier, no matter which account type traders will find more suitable for their needs and requirements, they will be allowed to decide between the same range of base currencies, including USD, AUD, GBP, EUR, CAD, SGD, JPY.
Standard Account
Traders who feel ready to start trading using real money can opt for a Standard account. This account type is better suited for clients of the brokerage who are making their first steps in trading, and this is so mainly because no commission is charged to account users, which is to say that they will be saved the hassle of calculating each time they would like to enter a trade.
One of the biggest benefits of trading with Global Prime is that the execution speed is as low as 10s. Additionally, the broker prides itself on offering trading services that are accessible for everyone to attain this, Global Prime has zero minimum deposit requirements.
When spreads are concerned, with the Standard account, these start from as low as 0.9 pips. The maximum trade volume is 1000 lots, while the minimum trade size is 0.01 lot. There is also a 100% stopout level. Another advantage of the Standard account is that hedging, EAs, and scalping are all permitted.
Raw Account
The other option clients of Global Prime who want to trade for real money can opt for is the Raw account. Raw account holders will face a commission of $3.5, while spreads start from 0.0 pips.
All traders who set up a live account with Global Prime are offered personalized support. Thanks to the assistance of the dedicated trading expert, traders will be able to navigate the markets without hassle and thus make the most out of the offered platforms.
The minimum and maximum trade sizes are the same as with Standard accounts. Scalping, hedging, and EAs can be used by Raw account holders.
Demo Account
Clients of the brokerage who lack experience can learn how to trade Forex and the other securities on offer without risking their money, given that they opt for a demo account. If they choose to access the demo account, they will be offered the chance to put through their strategies using virtual credits even while on the go.
Using the demo account is an excellent way to learn how to place orders as traders will be able to access all the 150 and counting markets on offer. Besides, they will get unlimited virtual funds, which allows traders to practice with as little and as much as they desire. Global Prime’s demo account is designed to duplicate as closely as possible real trading, and because of this, traders will even be offered around-the-clock customer care to support them along the way.
Customer Support
Another outstanding feature of the brokerage firm is the premium-quality customer support its clients are offered. Global Prime has ensured that its dedicated team of support hosts is fully prepared to help traders with all queries they might have. The broker’s help desk operates around the clock, and the fastest way in which existing and customers-to-be of Global Prime can contact the support hosts is the live chat. The live chat icon remains pinned in the lower right corner of traders’ screens, which ensures that it will be easily accessible whenever traders need assistance.
Contacting the support hosts is also possible by phone, and if this is traders’ preferred channel of communication, the phone they need to call is +61 (2) 8379 3622. Traders will get a prompt and appropriate response also if they forward their queries via email at support@globalprime.com. We contacted the support hosts several times, and we are happy to report that they responded almost right away and provided us with all the requested information in a friendly manner.
Global Prime’s FAQ page is also worth taking a look at if traders have questions about their accounts, the offered products, platforms, or payments, among others. The information is exceptionally detailed and even first-timers are sure to find the needed information with ease.
Conclusion
Global Prime is a broker that has what to offer to traders of all experience levels. The broker offers several account types, including a demo account, to ensure that the available options will meet the needs of all its clients. There is much to recommend about the brokerage firm, especially if traders want to get access to a greater variety of markets and low costs.
Although the choice of offered platforms is currently limited exclusively to MT4, the broker promises to add three more platforms to its roster very soon. Additional payment methods will soon be added to the already extensive list of deposit and cashout methods. The customer support’s quality is not to be neglected either, and Global Prime undoubtedly deserves plus points for its help department.