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Do you want to know which is the better broker between Global Prime and LIGHT FX ?
In the table below, you can compare the features of Global Prime , LIGHT FX side by side to determine the best fit for your needs.
You can determine the reliability and credibility of a broker by checking four factors:
1.Forex broker introduction。
2.Are the transaction costs and expenses of global-prime, lightfx lower?
3.Which broker is safer?
4.Which broker provides better trading platform?
Based on these four factors, we can compare which is reliable. We have broken down the reasons as follows:
Registered in | Australia |
Regulated by | ASIC, FSA |
Year(s) of establishment | 10-15 years |
Trading instruments | Currency pairs, indices, commodities, metals, energy, cryptocurrencies, stocks, bonds |
Minimum Initial Deposit | No minimum deposit |
Maximum Leverage | 1:100 |
Minimum spread | Tight spreads |
Trading platform | MT4 and tradingview |
Deposit and withdrawal method | Paypal, mastercard, visa, etcetera |
Customer Service | Email/phone number/address |
Fraud Complaints Exposure | Yes |
General information and regulations of Global Prime
Registered in Australia, Global Prime is an online forex broker that has been providing service for more than a decade.
In the following article, we will analyze the characteristics of this broker from various aspects, providing you with simple and organized information. If you are interested, please read on.
At the end of the article, we will also briefly summarize the main advantages and disadvantages so that you can understand the broker's characteristics at a glance.
Market instruments
Currency pairs, indices, commodities, metals, energy, cryptocurrencies, stocks, bonds .....Global Prime allows clients to access a huge range of trading markets. Therefore, both beginners and experienced traders can find what they want to trade on Global Prime.
Spreads and commissions for trading with Global Prime
In Global Prime, the spreads are shown in a separate page and the commissions are 7 USD per lot. We can see that the minimum spreads for major forex pairs are 0.0 pips.
Account Types for Global Prime
Demo Account: Global Prime provides a demo account that allows you to try out the financial markets without the risk of losing money.
Live Account: Global Prime only provides one type of ECN account, the commission is 7 USD per lot, no minimum deposit and spreads are tight.
Trading platforms offered by Global Prime
When it comes to trading platforms, Global Prime provides MT4 and Tradingview, both are among the most popular platforms in the world. The clients may choose the one they prefer freely.
Leverage offered by Global Prime
The maximum leverage offered by Global Prime is only 1:30 or 1:100, which may seem too low to you. In reality, those leverage of up to 1:500 or even 1:1000 are all from unregulated or offshore regulated brokers, and as we know, offshore regulation is much less strict regulation. For brokers that are formally regulated by the major regulatory bodies, they can only offer leverage of 1:30 or 1:50 at best, which is sufficient for the novice Forex trader. Lower leverage reduces the potential gains on trades, but more importantly, it reduces much of the risk. We recommend that you always keep your account risk at 2% or less.
Deposit and withdrawal methods and fees
In terms of deposit and withdrawal, like many good brokers, Global Prime provides a detailed form with important information about currency, payment method, minimum amount, arrival date, fees, etc.
Educational resources
A series of educational resources is available at Global Prime, such as autochartist alerts, economic calendar, market opportunities, chrome extender, VPS, autotrade, pip calculator, etcetera.
Customer support of Global Prime
Below are the details about the customer service.
Language(s): English, Portuguese
Service Hours: 24/5
Email: support@globalprime.com
Phone Number: +61 (2) 8379 3622
Address: Global Prime PTY Ltd (ABN 74 146 086 017), Suite 504, 35 Grafton Street, Bondi Junction, Australia
Global Prime FX (Company Number 40256), Govant Building, BP 1276, Port Vila, Vanuatu
Social media: Facebook, LinkedIn, YouTube, twitter
Users exposures on WikiFX
On our website, you can see that some users have reported scams. Please be aware and exercise caution when investing. You can check our platform for information before trading. If you find such fraudulent brokers or have been a victim of one, please let us know in the Exposure section, we would appreciate it and our team of experts will do everything possible to solve the problem for you.
Frequent asked questions about Global Prime
Is this broker well regulated?
Yes, it is currently effectively regulated by ASIC and FSA.
Company Name | Light FX |
Registered In | Japan |
Regulation Status | Regulated by the Financial Service Agency of Japan |
Years of Establishment | 15-20 years |
Trading Instruments | Around 20 currency pairs including major pairs |
Account Types | Not specified |
Minimum Initial Deposit | No minimum deposit requirement |
Maximum Leverage | Up to 1:25 |
Trading Platform | LIGHT FX app, Advanced Trader, Simple Trader |
Deposit and Withdrawal | Direct deposit, wire transfer from bank counters or ATMs |
Customer Service | Telephone support and contact form |
Light FX, a Japan-based forex broker, boasts a solid regulatory foundation as it operates under the supervision of the Financial Service Agency of Japan. With a track record spanning 15-20 years, Light FX offers traders access to around 20 currency pairs, including major ones, facilitating diverse trading opportunities. While specific account types remain unspecified, the broker stands out with its welcoming no minimum deposit requirement.
Leverage of up to 1:25 is available, albeit with due consideration of risk. Light FX provides traders with a choice of trading platforms, including the LIGHT FX app, Advanced Trader, and Simple Trader. Funding options encompass direct deposit and wire transfers from bank counters or ATMs, ensuring flexibility.
Given its regulation by the Financial Service Agency of Japan, LIGHT FX appears to be a legitimate and trustworthy broker.
Regulatory oversight is a fundamental factor in the forex industry, ensuring that traders' interests are protected, and trading practices adhere to industry standards. Nonetheless, it's always wise for traders to conduct their own due diligence and verify the broker's credentials.
Pros | Cons |
Regulatory Authorization | Limited Account Information |
Competitive Spreads | Weekend Support Absence |
Fee-Free Trading | Educational Resource Clarity |
Flexible Trading Platforms | |
Diverse Market Instruments |
Pros:
Regulatory Authorization: Light FX is regulated by the Financial Service Agency of Japan, providing traders with confidence in the broker's legitimacy and adherence to regulatory standards.
Competitive Spreads: The broker offers competitive spreads on major currency pairs, making it cost-effective for traders to engage in forex trading.
Fee-Free Trading: Light FX operates on a fee-free trading model, meaning traders can execute trades without incurring additional commission costs.
Flexible Trading Platforms: The broker provides a variety of trading platforms, including the LIGHT FX app, catering to traders of all experience levels. The inclusion of the “Trading View” tool enhances analysis capabilities.
Diverse Market Instruments: Light FX offers a selection of around 20 currency pairs, including major and minor pairs, allowing traders to diversify their trading portfolios.
Cons:
Limited Account Information: The available information does not provide details about the specific account types offered by Light FX. Traders may need to visit the official website or contact customer support for account-related details.
Weekend Support Absence: Customer support is not available on weekends, which may be inconvenient for traders who prefer weekend trading or have urgent inquiries during that time.
Educational Resource Clarity: While Light FX offers various educational resources and market information, the provided information lacks specific details about the educational materials available, requiring traders to seek further clarification.
Light FX offers traders access to around 20 currency pairs, encompassing both major and minor pairs.
This selection includes popular choices such as EUR/USD, USD/JPY, GBP/JPY, AUDJPY, and EURJPY, allowing traders to engage in a diverse range of forex trading opportunities.
Unfortunately, the available information does not provide details about the specific account types offered by Light FX. To gain a better understanding of the account options, it is recommended to visit the broker's official website or contact their customer support.
Different account types often come with varying features and benefits, catering to the diverse needs of traders, from beginners to advanced.
While the provided information does not outline the exact process for opening an account with Light FX, the standard procedure for most forex brokers typically involves the following steps:
Registration: Visit the broker's website and initiate the account registration process. You will be required to provide personal information and create login credentials.
Verification: Complete identity verification by submitting the necessary documents, which usually include a valid ID, proof of address, and possibly financial information.
Deposit: Fund your trading account with the minimum required deposit or your chosen amount through the provided deposit methods.
Platform Access: After your account is verified and funded, you can access the trading platforms offered by Light FX and start trading.
Light FX offers competitive features related to leverage and spreads, which play a crucial role in the cost structure of trading:
Light FX provides leverage up to 1:25 for forex trading, in accordance with Japanese regulatory guidelines. Leverage allows traders to amplify their positions with a relatively smaller capital investment. However, it's important to note that higher leverage also involves increased risk, and traders should use it cautiously.
Spreads: The broker offers competitive spreads on major currency pairs. For instance, spreads for popular pairs like EUR/USD can be as low as 0.3 pips, while USD/JPY may have spreads as tight as 0.2 pips. GBP/JPY, AUD/JPY, and EUR/JPY also feature competitive spreads at 0.9 pips, 0.6 pips, and 0.4 pips, respectively. It's worth noting that spreads can vary depending on market conditions.
Commissions: The information provided does not mention any commission fees, suggesting that Light FX operates on a fee-free trading model. This can be advantageous for traders, as it means that you can execute trades without incurring additional commission costs.
Currency Pair | Spread (in pips) | Commission |
EUR/USD | 0.3 | None |
USD/JPY | 0.2 | None |
GBP/JPY | 0.9 | None |
AUD/JPY | 0.6 | None |
EUR/JPY | 0.4 | None |
Light FX offers a diverse range of trading platforms to cater to traders of all levels. The LIGHT FX app is a highly flexible and accessible platform with a user-friendly interface, making it suitable for traders on the go. It integrates the powerful “Trading View” tool for stress-free trade analysis, features intuitive navigation, and offers one-tap order placement. Traders can even execute chart orders while analyzing market data, ensuring a seamless and sophisticated trading experience.
For more experienced traders, the Advanced Trader platform provides extensive customization options. It also incorporates the “Trading View” tool for comprehensive chart analysis, allowing traders to arrange the trading screen to their liking and access abundant customization features. With a wealth of information tools and advanced chart analysis functions, Advanced Trader empowers traders to create a personalized trading environment that suits their unique needs.
In the case of direct deposit, Light FX offers traders a convenient and efficient way to fund their trading accounts. The 24-hour real-time reflection ensures that deposited funds are available for trading almost immediately, making it ideal for traders who want to seize opportunities in the forex market promptly. The fact that Light FX covers all transfer fees for deposits through this method further adds to its appeal, as it minimizes costs for traders.
For those who prefer wire transfers from bank counters or ATMs, Light FX accommodates this option as well. While this method incurs transfer fees, it offers an alternative for traders who may not have access to internet banking or prefer in-person transactions. The creation of a customer-specific margin deposit account for wire transfers streamlines the process, ensuring that the funds are directed to the appropriate trading account.
Light FX offers customer support through multiple channels to assist traders with their queries and concerns:
Telephone Support: Traders can reach the customer support team by phone at 0120 637 105. Support is available every day from 7:00 AM to 10:00 PM, excluding Saturdays and Sundays.
Contact Form: For written inquiries or support requests, traders can use the contact form provided on the broker's website. This offers a convenient way to seek assistance or information.
The availability of telephone support during extended hours on weekdays is a positive feature, ensuring that traders have access to assistance when they need it most. However, the absence of support on weekends may be a limitation for some traders who prefer weekend trading or have urgent inquiries during that time.
Light FX provides a comprehensive suite of educational resources and market information to empower traders. Their offerings include real-time exchange rates for all currency pairs, crypto asset rates, and exchange charts, allowing traders to stay up to date with market movements.
The economic indicators calendar aids in tracking important events, while the swap calendar helps traders understand swap points for currency pairs. The buy/sell ratio for LIGHT FX customers, currency strength/weakness through heatmaps, and TM sign for USD/JPY predictions using text mining technology offer valuable insights.
Traders can also utilize margin simulations, effective leverage calculations, and swap simulations to manage their risk and plan their trades effectively. Additionally, Light FX provides information on corporate account leverage and total customer swap receipts, enhancing traders' market awareness.
In conclusion, Light FX is a Japan-based forex broker that operates under the regulatory authority of the Financial Service Agency of Japan. It offers a range of currency pairs for trading and provides flexibility in deposit methods. While the broker offers competitive spreads and leverage options, there is limited information available regarding account types and educational resources.
Traders interested in Light FX should consider conducting further research and verifying specific details on the broker's official website. As with any financial endeavor, it's essential to trade responsibly and be aware of the potential risks associated with forex trading.
Q: Is Light FX a regulated forex broker?
A: Yes, Light FX is regulated by the Financial Service Agency of Japan, ensuring it meets regulatory standards.
Q: What currency pairs can I trade on Light FX?
A: Light FX offers approximately 20 currency pairs, including major pairs like EUR/USD, USD/JPY, and GBP/JPY.
Q: Does Light FX charge commissions for trading?
A: No, Light FX operates on a fee-free trading model, meaning there are no commission fees for trading.
Q: What is the maximum leverage offered by Light FX?
A: Light FX offers leverage up to 1:25 for forex trading, in compliance with Japanese regulations.
Q: How can I deposit funds into my Light FX trading account?
A: You can deposit funds through direct deposit or wire transfer from bank counters or ATMs, with direct deposit offering real-time reflection.
Q: What trading platforms does Light FX provide?
A: Light FX offers a range of trading platforms, including the LIGHT FX app, Advanced Trader, and Simple Trader, catering to traders of all levels.
Q: Are there educational resources available for traders on Light FX?
A: Yes, Light FX provides educational resources such as real-time market information, economic indicators calendars, and margin simulations to support traders in making informed decisions.
To compare transaction costs across different brokers, our experts analyze the transaction-specific fees (such as spreads) and non-trading fees (such as inactivity fees and payment costs).
To get a comprehensive understanding of how cheap or expensive global-prime and lightfx are, we first considered common fees for standard accounts. On global-prime, the average spread for the EUR/USD currency pair is 0.4 pips, while on lightfx the spread is --.
To determine the safety of our top brokers, our experts will consider many factors. This includes which licenses the broker holds and the credibility of these licenses. We also consider the history of brokers, because long-term brokers are usually more reliable and trustworthy than new brokers.
global-prime is regulated by ASIC,FSA,VFSC. lightfx is regulated by FSA.
When our experts review brokers, they will open their own accounts and trade through the broker's trading platform. This enables them to comprehensively evaluate the quality, ease of use, and function of the platform.
global-prime provides trading platform including Commission Free,Spreads + Commission and trading variety including 100. lightfx provides trading platform including -- and trading variety including --.