Review of Global Prime Forex Broker: A Leading Brokerage Company

Global Prime homepage

Summary of Global Prime Forex Broker

Global Prime is a well-regulated forex broker established in 2010. It offers a wide range of trading instruments, including Forex, cryptocurrencies, and commodities, with robust platforms like MetaTrader 4.

It is known for its competitive fees, with no charges for deposits and withdrawals. Users can also trade with confidence, knowing their funds are segregated in top-tier banks.

This broker is best suited for intermediate and professional traders, since it provides an intuitive trading experience and excellent customer support, but limited educational resources for beginners.

Global Prime earns a TB (Trading.Biz) evaluation score of 6.1 after being carefully evaluated across multiple parameters.

Pros and Cons

Evaluating High Impact Factors

Consider Trading with Global Prime If:

• You want to diversify your portfolio and gain access to a wide range of investment opportunities, including forex, commodities, and cryptocurrencies.
• You’re a professional trader managing multiple accounts – Global Prime’s multi-account management systems can streamline your trading process and save time.
• You trade frequently – Global Prime doesn’t charge fees for everyday activities like withdrawing funds.

Don’t Trade with Global Prime If:

• You’re a resident of a restricted country – check Global Prime’s FAQ for the complete list before you sign up.
• You’re a beginner trader looking for educational resources.
• You prefer a platform in a language other than English.

Verified Office Addresses

Global Prime’s verified office addresses

Global Prime has two verified office addresses:

• 627 Chapel St, South Yarra 3141, Australia
• Govant Building, BP 1276, Port Vila, Vanuatu

Regulation and Security

Global Prime’s licensing and regulatory page

Regulation

Global Prime is regulated by two notable financial authorities:

• The Australian Securities and Investments Commission (ASIC) regulates it in Australia as part of FMGP Trading Group Pty Ltd (ABN 74 146 086 017)
• The Vanuatu Financial Services Commission (VFSC) regulates it under the name Gleneagle Securities Pty Limited, with the company registration number 40256

This represents a reasonable level of regulation for a forex broker, adding a level of trust and guarantee for its clients.

Security

The security measures on the platform are the ones you can expect from most reputable brokers. Users must create a password to safeguard their accounts and can also setup 2FA (two-factor authentication) for certain transactions and activities, such as logging in.

Client funds are also kept separate from Global Prime’s operating funds. These funds are held with the Hong Kong and Shanghai Banking Corporation Limited (HSBC) and National Australia Bank (NAB), ensuring that your money is safe no matter what happens to the company.

Expert Opinion on Global Prime

Moneyball Austin says, “Although I am an affiliate for Global Prime and recommend it, I’ll adopt an investigative approach, akin to putting on my Sherlock Holmes hat,’ to ask the tough questions.”

Expert Opinion about Global Prime from Moneyball Austin

In a YouTube video, Moneyball Austin also asks Global Prime’s live support a number of questions about the brokerage and is told that Global Prime:

• Does not profit from client’s losses
• Earns through spreads, swaps, and commissions
• Is regulated in multiple jurisdictions

Expert opinion about the homepage of Global Prime from BD Droid Tech

Another independent reviewer, BD Droid Tech, approves of the platform, stating that they are “comfortable recommending Global Prime to our traders, particularly experienced investors looking for advanced trading tools. Global Prime is fully licensed and regulated as a group of contracting entities across Australia, Vanuatu, and Seychelles.

The Australian Securities and Investments Commission regulates Global Prime Ltd under license number 385620. The broker offers promising platforms for traders of all skills. While the broker does not offer the widest variety of instruments, it provides competitive spreads on the pairs and indices. The level of security and transparency is impressive.”

Expert Review of Global Prime

Global Prime is a solid choice for an intermediate or professional trader who is already familiar with various asset classes and instruments.

However, if I were just starting, I’d want a broker with more educational resources so that I could learn the ins and outs of trading on their platform.

If you’re a beginner using Global Prime, you will need to look beyond the platform to build your knowledge and skills.

The Signup and Verification Process on Global Prime

The signup process was very straightforward. The manual option asks you to provide your email and phone number, though I opted for the even faster route and registered using my Google account.

Signup page on Global Prime

After this, I was prompted to create a password.

Password creation page on Global Prime

That’s it. Simple as can be.

Verifying my account was a bit more involved. There are three steps:

• Setting up your profile by entering your personal information and letting them know who referred you to the platform (optional)
• Configuring your account settings to best suit your trading needs
• Confirming your identity by providing a passport, driver’s license, or other government-issued identification

User verification page on Global Prime

This verification process is part of Global Prime’s KYC (Know Your Customer) and AML (Anti-Money Laundering) policies.

Once verified, you will be able to create a trading account and deposit live funds.

The Global Prime Dashboard

The dashboard has a well-designed and intuitive interface.

At the top left of the screen, I could easily toggle between live and demo accounts.

Global Prime dashboard

At the bottom were five icons: Accounts, Payments, Sponsored VPS, Trading Calculator, and Platforms. Each of these buttons are straightforward and give me access to essential functions.

Overall, the dashboard is easy to navigate and provides quick access to everything a trader will need.

Depositing and Withdrawing Funds on Global Prime

This is one of the most essential functions of any brokerage firm. After all, you can’t trade without a deposit and there’s no point in investing if you can’t withdraw the funds you’ve earned.

Global Prime makes this easy by providing multiple options for funding and withdrawing from accounts.

Depositing Funds into Your Global Prime Account

I was presented with a series of options to complete a deposit on Global Prime. You can use:

• Bank wire transfers
• Debit or credit cards (Visa or MasterCard)
• Cryptocurrency
• PayPal and other wallet options like Neteller, Skrill, Perfect Money, XPay, Mifinity, Gate8, DragonPay, FasaPay, POLi, and Bpay

Available deposit option on Global Prime

The time and fees associated with the deposit will depend on the method you choose:

• Card deposits and most wallet options are instant, but bank wires will take 1 to 2 business days (Australia) or 3 to 5 business days (international)
• Minimum deposits vary from wallet to wallet – some allow a $1 minimum deposit but most have a minimum of $10
• There are zero deposit fees, regardless of the method you use

Note that third-party payments aren’t allowed and that all payments made to your Global Prime account must come directly from an account bearing the same name as yours.

Withdrawing Funds from Your Global Prime Account

Global Prime also offers multiple withdrawal options. Withdrawals can be completed through local banks, MasterCard or Visa, crypto, wire transfer, and various wallet options (Neteller, Skrill, PayPal, AstroPay, Dragonpay, Jeton, Perfect Money, and Interac).

Withdrawal page on Global Prime

Every withdrawal option has a $10 minimum, except for bank wire transfers which require you to withdraw a minimum of $30.

Like deposits, every withdrawal option is entirely free. Global Prime won’t charge you anything to transfer funds out of your account.

Withdrawals can be done in multiple currencies:

• Fiat currencies, including USD, AUD, GBP, EUR, SGD, CAD, JPY, and PHP
• Cryptocurrencies: BTC, BCH, LTC, ETH (ERC20), USDT (ERC20), and XRP

Withdrawing funds from my Global Prime account was remarkably seamless. The process met my needs as a trader and I am sure others will feel the same.

Trading Conditions on Global Prime

Some features of Global Prime

1. Spreads from 0.0 PIPS
2. Execution from 10 MS
3. 24/7 trade markets
4. No fees on deposits or withdrawals
5. Support for several currencies: AUD, CAD, EUR, GBP, JPY, and SGD
6. Multiple assets: Forex Trading, Crypto CFDs, Indices, Commodities, and Bonds CFDs
7. Client funds kept separate and secure in Tier-1 banks (HSBC and NAB)
8. Regulated by the ASIC and VFSC
9. Instant market execution (except in cases of high volatility)
10. No inactivity fee for not using your Global Prime account
11. Minimal slippage on the platform

Trading features on Global Prime

How to Start Trading with Global Prime

• Signup using Global Prime’s web application
• Select the account type you want to trade with
• Download the version of the trading terminals you want to use
• Connect the trading terminal with your Global Prime account
• Fund your Global Prime wallet
• Start trading on your live account

Useful Trading Tools on Global Prime

Global Prime offers its users several useful tools to simply the trading process.

Available trading tools on Global Prime

Trading Calculators

Using this set of tools, I could calculate several important trading values:

• The currency converter lets me see live rates for different currencies
• The pip calculator helped me find the value per pip for any trade in the currency of my choice
• The margin calculator helped determine the margin needed to open and close a trade
• Swaps were used to calculate the difference between two currencies in an open trade
• The “Profit” feature let me track potential losses and gains when my stop loss or take profit points were reached

Economic Calendar

This section helps you keep tabs on the marker with financial news and events, such as changes in monetary policy.

Autochartist

This useful feature helped me monitor the market without any active involvement. It would give me automated updates about different instruments across various price levels.

Sponsored VPS

A VPS is a Virtual Private Server for Forex Trading, connected to a virtual machine 24/7. With this, I wouldn’t have connectivity issues when trading any instrument.

There is a threshold you need to meet before accessing this feature – I would have to trade more than 20 lots of FR or Metals instruments in 30 days. In that case, I could access the New York Servers, which provides fast executions, high-powered servers, and 24/7 support.

Investment Opportunities on Global Prime

Investment opportunities on Global Prime

The investment opportunities on a platform is one of the things I look for in any broker I’m considering. Global Prime offers many, including the ability to maximize your profits with the copy trading feature, which lets you take the same trades as highly profitable traders.

With this, you can ensure your profitability as a trader on Global Prime across various assets, including forex, crypto CFDs, commodities, and bonds. I highly recommend it to anyone who values that kind of versatility.

Global Prime Affiliate Program

Global Prime calls its affiliate program a “Partner Program,” but it has the same standard features.

This program is primarily designed for those with an audience that aligns with Global Prime’s user personas, including financial influencers, newsletter publishers, and media buyers.

Signup form for Global Prime’s affiliate program

The program offers highly competitive CPA (cost-per-acquisition) commissions, a dashboard for tracking and analysis, marketing resources, acquisition guidance, and personalized customer service options for users.

To get started, simply fill out the form you see in the image above, providing a few personal details, how many clients you have, where they’re based, and other details that will let Global Prime assess your potential as a partner.

Unlike many other brokers, however, Global Prime focuses less on prize benefits. As an affiliate, you would be relying mainly on commissions for your earnings.

Conclusion

Overall, the user experience on Global Prime is decent, with an interactive interface and a high level of security (backed by technological features and regulatory licensing). Still, if you choose to use Global Prime, you should follow all the safety procedures before using the platform.

I recommend Global Prime to intermediate traders and professionals with some experience with the market.

Beginner traders can still use Global Prime, so long as they learn the basics of market trading elsewhere. While the broker does offer some educational and training resources, they are not tailored for beginners.

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