Global Prime is an Australian forex broker established in 2010 and regulated by ASIC (Australia) and VFSV (Vanuatu). It offers the popular MT4 trading platform as well as the Trader Evolution Desktop and TradingView platforms.
It is connected to ZuluTrade, supports MyFxBook CopyTrade, and provides demo accounts for strategy testing. Keep reading this Global Prime review to learn more about this platform.
A Detailed Table on Global Prime
|Up to 1:200
|From 0.1 pips for currency pairs
|Currencies, stocks, indices, commodities, metals, and cryptocurrencies
What You Can Trade on Global Prime
Global Prime allows you to trade over 300 financial instruments across 7 major asset classes. You have access to trade major currency pairs (-) like EUR/USD and GBP/USD, as well as minor pairs such as NZD/CAD.
It offers very tight spreads, so you’ll get a good price when you buy and sell. They also provide high leverage (up to 1:400) if you want to amp up the potential rewards.
Not just forex, you can trade commodities (-) such as gold, silver and oil. Global Prime allows you to speculate on the price of these raw materials and natural resources. They offer CFDs which means you’ll never take physical delivery of the asset.
You can also trade popular global indices like the S&P 500, FTSE 100 and Nikkei 225. These track the overall performance of major stock exchanges. Global Prime’s platform gives you exposure to indices from all around the world.
Fees & Commissions
When trading with Global Prime, it’s important to understand their fee structure. Like most brokers, it makes money through commissions and spreads. However, their fees are generally lower than average, which is one of the reasons they’re a popular choice.
The is a small amount of Global Prime commission for stock and ETF trades. It’s $0 for US stocks and ETFs, $0.02 per share for Canadian stocks ($2 minimum), and $0.03 per share for other international stocks ($5 minimum). Options trades are $0.50 per contract. These rates are very reasonable compared to most other brokers.
This platform makes money through the spread, which is the difference between the buy and sell price of a stock. The spreads are small, usually just a few cents per share for major stocks and ETFs. Spreads are larger for thinly traded stocks and during pre-market and after-hours trading.
Global Prime charges a quarterly inactivity fee of $50 if you make less than 5 trades in 3 months and have less than $10,000 in assets. This fee is waived for accounts with over $10,000.
Deposits and Withdrawals
You can deposit funds into your Global Prime account in a variety of ways such as wise transfer, credit/debit card, eWallets, and cryptocurrency. There is no Global Prime minimum deposit amount which means you don’t need to pay a single penny. Withdrawing your funds from Global Prime is just as easy as depositing and the process is also the same
How to Create an Account on Global Prime
To create an account on Global Prime, follow these simple steps:
- Visit the official Global Prime website.
- Click on the “Sign Up” or “Create Account” button.
- Fill in the required personal information, including your name, email address, and phone number.
- Choose a secure password that meets Global Prime’s password criteria.
- Provide additional details such as your date of birth, nationality, and residential address.
- Agree to the terms and conditions of Global Prime.
- Complete any additional verification steps, which may include uploading identification documents.
- Verify your email address by clicking on the confirmation link sent to your registered email.
- Once verified, go for Global Prime login to your newly created account using your credentials.
Is Global Prime Legit or a Scam
Global Prime is a reputable and regulated forex broker, so you can rest assured it’s not a scam. Global Prime Pty Ltd is regulated by the Australian Securities and Investments Commission (ASIC), one of the strictest regulatory agencies in the world.
ASIC requires brokers to segregate client funds, maintain minimum capital requirements, and comply with strict anti-money laundering laws.
What is the Best Alternative of Global Prime
If you think Global Prime isn’t perfect for you, then you can go for some other options. One of the best platforms is IC Markets. Here is a comparison between these two platforms
|is a multi-regulated trading broker offering 150+ markets.
|It is a respected multi-asset broker offering premium trading technology, highly competitive pricing, and 24/7 customer support.
|Full range of investments with 150+ assets including crypto.
|Low fees for active clients with spreads from 0.0 pips and zero commissions, plus forex rebates for high-volume traders.
|$0 minimum deposit
|$200 minimum deposit
|Wide range of deposit options with zero fees.
|Powerful and reliable charting packages, including 70+ in-built indicators and 270+ trading bots in cTrader
|It is suitable for both beginners and seasoned traders with excellent market access, low fees, and a range of tools including copy trading.
|It offers a top-class environment for traders of all experience levels and strategies.
You can read the IC Markets review to learn more about this platform.
With competitive spreads, a range of markets to trade, and a trusted reputation, Global Prime is a broker worth considering if you’re looking to access global markets. Their pricing and fees are straightforward, funding is convenient, and their platform provides all the tools you need to analyze markets and place trades.