Abstract:Global Prime AU is an online Forex and CFD broker that has been providing services in the industry for over 10 years now and is based in Sydney, Australia. Global Prime Pty Ltd holds an Australian Financial Services Licence (AFSL) to conduct financial services in Australia, with those financial services covered by AFSL No. 385620 only. Global Prime FX Ltd is registered in Seychelles and holds a Securities Dealer License SD057 issued by the FSA and a financial license issued by the Vanuatu Financial Services Commission (registration no.40256).
Registered Country/Region | Australia |
Regulation | ASIC, FSA |
Minimum Deposit | AU$ 200 / R3200 ZAR |
Maximum Leverage | 1:200 |
Minimum Spreads | from 0.0 pips to 0.4 Pips |
Trading Platform | Trading View, TradingEvolution, MT4 , FIX API and WebTrader |
Demo Account | Yes |
Trading Assets | Forex, Digital Currencies, Indices, Commodities, Shares, Bonds |
Payment Methods | Credit cardDebit CardsNetellerSkrillPayPalAccentpayDragonPayZOTAPAYFasaPayPoliBPayWire Bank transfers |
Customer Support | Phone & Email Support |
General Information & Regulation
Global Prime AU is an online Forex and CFD broker that has been providing services in the industry for over 10 years now and is based in Sydney, Australia. Global Prime Pty Ltd holds an Australian Financial Services Licence (AFSL) to conduct financial services in Australia, with those financial services covered by AFSL No. 385620 only. Global Prime FX Ltd is registered in Seychelles and holds a Securities Dealer License SD057 issued by the FSA and a financial license issued by the Vanuatu Financial Services Commission (registration no.40256).
Market Instruments
Global Prime AU provides investors with popular trading products, mainly Forex, metals, energy, indices, and commodities.
Minimum Deposit
There are two account types listed on Global Prime AU platform: the Commission free and the spread + Commission accounts. The minimum deposit for both accounts is $200, which is in line with most brokers' initial deposit.
Leverage
Global Prime AU has standard leverage of 1:100 for currency pairs and maximum leverage of 1:100 for gold and other CFDs. and the available trading leverage is 1:100 or 1:200.
Spreads & Commissions
The minimum spread for Eurodollar is 0.0 pips, with an average spread of 0.1 pips. The minimum spread for XAUUSD starts from 0.0 pips with an average spread of 1.1 pips, the minimum spread for XGUUSD starts from 0.0 pips with an average spread of 12.8 pips, the minimum spread for UK Crude Oil is 0.5 pips with an average spread of 1.6 pips and the average spread for Australia 200 is 0.8 pips. The broker charges a $7 (bilateral) commission (depending on the volume) for Forex and Metals trades. For energy (crude oil/natural gas), CFDs, stock indices, cryptocurrencies, soft commodities (coffee, corn, soybeans, etc.), the broker charges spreads as commission.
Trading Platform
Global Prime AU offers traders three trading platforms: MT4, Trading View, and TraderEvolution. MT4, Trading View is the world's most popular trading platform, easy to use for regular traders, but powerful and suitable for experienced traders. The TraderEvolution trading platform is aimed at multi-asset traders and was originally released for the company's institutional clients but was later connected to Trading View, allowing traders to combine the two platforms into one, with the functionality of both.
Deposit & Withdrawal
The trader offers its users a variety of ways to deposit and withdraw funds, mainly via wire transfer, NETELLER, Skrill, Astropay, credit cards. The company does not charge any internal fees for accessing funds, but the transferring bank may deduct some fees for accessing funds via wire transfer.
Trading Hours
Trading hours on forex, indices and commodities markets are open 24/5 from Monday to Friday. Specific trading hours for each market can also be viewed on the Global Prime website or on the MT4 and TraderEvolution platforms.
Customer Support
Global Prime AU customer support team is available 24/5, Monday to Friday. Traders can reach them via email at support@globalprime.com, via phone at +61 (2) 8379 3622 or directly through live chat. The website also offers specific email addresses based on specific queries
Restricted Regions
Please note that clients from the United States, North Korea, Iran, Ivory Coast, Puerto Rica, and Ontario are not accepted
Pros & Cons
Pros | Cons |
ASIC-regulated | Only one account available |
Competitive trading conditions | No Islamic account offered |
Free deposits and withdrawals | Clients from some countries are not accepted |
Various payment methods | Mostly for advanced traders |
Demo Account available | Currency conversions fees may apply |
MT4 trading platform | |
Transparent fee structuring | |
Easy and simple account-opening process | |
Good customer support |
Frequently Asked Questions
What type of traders is Global Prime suitable for ?
Global Prime is best suited for professional traders.
What type of broker Global Prime is ?
Global Prime is an ECN broker.
What are the advantages of trading with Global Prime ?
Global Prime's advantages include low spreads, zero fees charged on deposit and withdrawal and a referral bonus offered.
What is the overall rating for Global Prime ?
Global Prime receives a score of 7.05/10 based on its License, Business, Risk Management, Software, and Regulatory Indexes.
Does Global Prime offer swap-free accounts?
No, Global Prime does not offer swap-free accounts.
Does Global Prime take a commission ?
Global Prime takes a general commission of $7 per standard lot round turn. This translates to $0.70 for 0.10 lots and $0.01 lot. Commission can be negotiated for clients trading more than 500 lots per month.
Disclaimer:
The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.