GlobalPrime Review

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Company Information Global Primer Forex is one of the relatively new brokers established in 2010. The brokerage is owned by Global Prime Pty Ltd, and their headquarters are located in… more

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Website URL
HeadquartersSydney, Australia
Support Number+612 8277 6611
Support TypesPhone, Live Chat, E-mail
Minimum 1st Deposit$500
Minimum Trade Amount0.01 lots
PayoutUp to 500:1
Free Demo AccountYes
Regulated Yes
RegulationAustralian Securities & Investments Commission (ASIC)
Account TypesLive, Demo
Deposit MethodsCredit Cards, Electronic Fund Transfer, B-pay
Withdrawal MethodsCredit Cards, Electronic Fund Transfer, B-pay
Types of AssetsSpot Forex, Gold, Silver
Account CurrencyAUD, EUR, CAD, GBP, USD, SGD
US Traders Allowed No
Mobile Trading Yes
Tablet Trading Yes

Full Review

Company Information

Global Primer Forex is one of the relatively new brokers established in 2010. The brokerage is owned by Global Prime Pty Ltd, and their headquarters are located in Sydney, Australia. The company looks to expand their services worldwide and are already supporting offices in other countries. Global Prime Forex is a fully regulated Forex brokerage licensed with ASIC. Despite the fact that the company doesn’t have a lot of experience like other brokerages in the industry it still offers one of the best services in Australia. Their full transparency policy is backed by the that they are one of the forex brokers that can give you a trade receipt for your trades. It has been known that many brokerages scam their clients with fictional trades, but this is not the case with Global Prime. The trading features and instruments offered by Global Prime are equal to none. The usage of a stable and bug-free platform like the Metatrader4 only proves that the people from the company have the skill and knowledge to provide an excellent service.

Trading Information

Global Prime currently offers only one type of account. It’s an ECN type and offers all sorts of instruments and features. The spreads are variable and can go as low as 0 pips for majors like EUR/USD. The average spread for EUR/USD is around 0.4 pips which are quite low compared to other brokers. A superb live chart about spreads is available on their website where you can check how major currency pairs are priced. Leverages are set to 1:200 and minimum trading lot size 0.01 lots. Trading instruments for the platform are Forex, Gold, Silver, Commodities, and Swaps. The minimum deposit requirement to open an account is $500. Scalping and hedging are allowed. One-click trading, OCO orders, and trailing stop order are available. However, the Islamic account option is missing and if you’re looking for such type of services you’ll have to look elsewhere. Trade execution is great, and Global Prime checks its performance daily. At the time of writing this review, Global Prime offers 42 currency pairs. You can check them on their dedicated currency pairs page.

Trading Platforms

The trading platform chosen by Global Prime is non-other than the world popular Metatrader 4. This platform is well-known amongst experienced traders and very welcomed by beginners. It’s easy to use but at the same time complex enough to suit the needs of professional traders. For over a decade it has been dominating the Forex trading world. It’s suitable for every computer and mobile device. It works with Windows and MAC, and you just need to download and install it. The mobile version of the platform you can find in the Google Play and Apple stores. It offers features like trading from charts, streaming news, expert advisors, trading signals and much more. The only downside of the MT4 is that not every broker offers its web trader version. This is exactly the case with Global Prime which means that you will have to download and install it on your device. It would be nice if they would include a browser-based version in the future.

Security and Customer Services

As far as security is concerned Global Prime have taken all the needed measures to ensure you have a hassle free trading experience. There is an SSL protocol install on their website that ensures your personal data is protected. The segregated account option is a welcome feature that not every brokerage offers. It means that your funds are deposited in a separate top tier bank account and are kept separate from the company’s funds. As far as customer support is concerned Global Prime have done well in this department. They have provided many contact methods including phone numbers, emails, online contact form, postal address of their headquarters and Live Chat support system. There are also the company’s social media profiles on Facebook and Twitter where you can follow all the news and promotions. Helpful trading resources like a Daily Forex Report and a Forex calculator are available. The Forex News and Calendar will also help you stay up to date with the financial world. The website is translated in 2 languages English and Chinese. Customer support coverage is 24/5 from Sunday to Friday.

Deposits and Withdraws

Funding your Global Prime account is easy. You can choose from many deposit methods provided by the company. The Account currencies are Australian Dollars, Euro, British Pounds, US Dollars, Singapore Dollars, and Canadian Dollars. Global Prime have clearly explained that there are no charge fees for deposits and withdrawals. However, for international transfers, there might be additional charges that the bank institution will make. Withdrawals can be made using the same method you have deposited the money. First, you’ll have to fill out a withdrawal form and wait for it to be approved by a company’s employee. The approval usually happens within two business days and the whole withdrawal processing time can take up to 7 business days. It depends on the method you have chosen for the withdrawal. Another regulation from Global Prime is that if make a new account and put any funds in it for 21 days it will be automatically closed.

Deposit Bonus and Loyalty Programs

Currently, there are no bonuses or promotions offered by Global Prime. There have been some rebate bonuses previously, but for now, the company has chosen to put their efforts in other types of marketing. Finally, if you’re looking for a secure and feature rich trading experience and you don’t mind the lack of an Islamic account option, Global Prime is the right brokerage for you.

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