Global Prime Forex Broker Introduction
An Australian-based brokerage firm, Global Prime provides FX and CFD instruments to its traders and specializes in low latency connectivity to tier-1 bank liquidity and ECNs to provide a top-notched trading environment.
Discover how you can maximize the trading advantages you can enjoy under Global Prime’s trading services by reading the entirety of this broker review.
Global Prime: Background and Safety
Established in 2010, Global Prime is an Australian owned and operated Financial Services Provider. It was initially formed to support the MetaTrader 4 platform back then when the presence of Expert Advisors (EA) was starting to shape the landscape of online trading coupled with the emergence of ECNs as the popular trading preference among retail traders.
Global Prime tapped the services of its two clients to become part of its team in 2011 to lead in opening the broker’s institutional forex services to retail traders that brought significant changes and growth to the company since then.
Aside from its core trading services and specialty, Global Prime takes pride in practicing good governance by facilitating and maintaining excellence in its several facets including auditing, good corporate citizens, good standing with financial authorities, and zero-dispute claims. The broker’s immaculate record and transparent trading services speak volumes to its integrity and reputation as a global financial service provider.
Moreover, Global Prime is fully compliant with regulations set by governing bodies in financial services. Global Prime Pty Ltd is sanctioned by the Australian Securities & Investments Commission (ASIC) and holds an Australian Financial Services Licence (AFSL) to operate financial business services in Australia.
In summary, Global Prime is a trusted brand, and entrusting your trading funds onto the broker is totally safe and secure.
Global Prime: Features and Fees
Global Prime offers the following financial instruments to its clients:
- Forex (Special Features: 48 currency pairs, razor tight ECN spreads from 0.0 pips, over 20 liquidity providers, ECN technology)
A total of 21 CFDs are available with Global Prime that complements its 48 currency pairs offering.
Global Prime offers only two account types: the ECN Account for retail traders and the Institutional Account for institutional traders.
ECN Account – requires A$200 minimum deposit, trade size with a minimum of 0.01 lots and maximum of 1000 lots, STP execution, spreads starting from 0.0 pip, Margin Call and Stop Orders at 120% and 100% respectively, and leverage of up to 1:200.
Institutional Account – this account type is for institutional traders with large trade volumes daily and features trade size with 0.01 lots at a minimum and 1000 lots at maximum, free VPS feature to trade over 20 lots per month, and leverage of up to 1:100.
Using the client portal, traders can perform deposit and withdrawal transactions. Moreover, the broker accepts deposits made through the following options: MasterCard, Visa, Bank Wire, Neteller, BPay, Dragonpay, Zotapay, and fasapay. The good news is that there are no deposit fees for any of the payment options. Take note, though, that there are certain restrictions set for each deposit transaction for all the deposit methods enumerated above.
Withdrawal options are more limited by choosing any among the following: MasterCard, Visa, Bankwire, and Neteller. The bank wire option is the only withdrawal means that charges withdrawal fee.
Global Prime: Trading Platforms and Tools
Global Prime only offers the industry-wide known MetaTrader 4 platform. Since it is a MetaTrader broker, it offers the complete MetaTrader suites along with an array of advanced trading tools and features.
MetaTrader 4 for Windows (Features): simple interface, easy to use, customizable, one click-trading, automated trading.
MT4 for Mac (Features): multiple order types, free and paid trading signals, more than 30 indicator tools, automated trading, analysis tools, and multiple chart setups
MT4 Web Client (Salient Features): allows both demo login and live account login, has micro lot trading, no trading restrictions, and instant payments.
MetaTrader iPhone/ MetaTrader Android (Features): access to all types of trading orders, more than fifty technical analysis tools, supports all order types, over 30 indicator tools, financial news, trade history, real-time symbol quotes, and 24 analytical objects
Global Prime’s MetaTrader 4 versions and features:
Global Prime is a standout Australian brand in terms of transparency and reputation. However, it is at a disadvantage if we look at the primary trading facets such as account features, trading platforms, range of tradable financial products (being small and limited).
Despite this, Global Prime is a longstanding broker that continues to provide specialized trading features through its ECN trading account. Traders who do not look for more advanced trading tools can try Global Prime as it offers low minimum deposits and competitive spreads.