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Overall

Global Prime is an ASIC-regulated MetaTrader-only broker based in Australia, and is owned by Gleneagle Securities. However, its limited range of products and lack of research tools weighs down on its offering.

By Steven Hatzakis / July 30th, 2018 / Updated: October 3rd, 2018

help 68
Trust Score
Dislikes
  • Severe lack of research tools
  • Small range of forex pairs and CFDs offered

Review Sections:

Founded in 2010, Global Prime Pty Limited (Global Prime) is an Australian-based forex broker regulated since 2011 by the Australian Securities & Investment Commission (ASIC), and is owned by Gleneagle Securities (Aust) Pty Ltd, based in Sydney. Global Prime offers 14 CFDs and 40 forex pairs and is a MetaTrader-only broker, offering the popular MetaTrader4 (MT4) platform developed by MetaQuotes Software Corporation.

Trust Score

Trading with a forex broker traders can trust is crucial to success. Unfortunately, forex fraud and scams are common in the industry.

Here at ForexBrokers.com, we maintain the largest independent regulatory database available on the web. Using 28 different variables, we have created a proprietary 1-100 score (the higher the better) of overall trustworthiness, which we call the Trust Score. Here is our trust summary of Global Prime.

Global Prime
Trust Score68
Year Founded2010
Publicly-Traded Company (Listed) No
Regulated in Major Hub Yes
Regulated in Emerging Hub No
Authorised in the European Union No
CFTC Registered (USA) No
FCA Regulated (UK) No
IIROC Authorised (Canada) No
FINMA Authorised (Switzerland) No
ASIC Authorised (Australia) Yes
SFC Authorised (Hong Kong) No
MAS Authorised (Singapore) No
FSA Authorised (Japan) No
FMA Authorised (New Zealand) No
CySEC Authorised (Cyprus) No

Offering of Investments

The following table summarizes the different investment products available to Global Prime clients.

Global Prime
Minimum Initial Deposit$500
Currency Pairs (Total Forex pairs)40
CFDs - Total Offered14
Exchange Traded Securities: US No
Exchange Traded Securities: International No
Cryptocurrency traded as actual No
Cryptocurrency traded as CFD No

Commissions & Fees

Global Prime offers traders the option of choosing a round-turn commission or marked-up spread, although it does not list any average spreads on its website. Using third party data from Myfxbook, average spreads at Global Prime ranged between 0.3 pips to as much as 7.2 pips during news announcements, as per the date range depicted in the sample snapshot below.

Myfxbook Global Prime spreads

Global Prime
Average Spread EUR/USD - StandardN/A
All-in Cost EUR/USD - ActiveN/A
Active Trader or Premium/VIP No

Research

Aside from its listing of ZuluTrade and Myfxbook Autotrade, for social copy trading Global Prime doesn’t offer much else when it comes to research tools, making this category an area in which the broker is severely lacking.

Global Prime
Daily Market Commentary No
Forex News (Top-Tier Sources) No
AutoChartist No
Trading Central (Recognia) No
Delkos Research No
Acuity Trading No
Social Trading / Copy-Trading No
Social Sentiment - Currency Pairs No
Client Webinars No
Client Webinars (Archived) No
Videos - Beginner Trading Videos No
Economic Calendar Yes
Calendar Includes Forecasts No
Economic News Sentiment No
Trade Ideas - Backtesting Yes

Platforms & Tools

Global Prime is a MetaTrader-only broker, offering from the suite of platforms developed by MetaQuotes Software Corporation, including the MetaTrader 4 (MT4) platform. To learn more about MT4, read our MetaTrader guide.

MetaTrader4 Desktop Forex Brokers

While MT4 comes standard, with little variation in functionality from broker to broker, there can be significant differences in how the platform is set up for trading spreads and commissions, execution, and other tools, features, and administrative areas.

Besides spreads, the range of instruments, and account types, here is a summary of the differences in features between Global Prime’s available MT4 offering and the default MetaTrader experience:

    • Lack of any news provider in MT4
    Global Prime
    Virtual Trading (Demo) Yes
    Desktop Platform (Windows) Yes
    Desktop Platform (Mac) No
    Web Platform No
    Social Trading / Copy-Trading No
    Proprietary No
    MetaTrader4 (MT4) Yes
    MetaTrader5 (MT5) No
    cTrader No
    Currenex No
    ZuluTrade Yes
    MirrorTrader No
    Charting - Drawing Tools (Total)31
    Charting - Indicators / Studies (Total)51
    Watchlists - Total Fields7
    Order Type - Trailing Stop Yes

    Mobile Trading

    Global Prime offers iOS and Android mobile trading applications for its MetaTrader platforms, available directly from developers on the iTunes Store and Google Play. To learn more about MT4, read our guide to MetaTrader..

    Metatrader4 mobile watchlist

    Global Prime
    Android App Yes
    Apple iOS App Yes
    Charting - Draw Trend Lines Yes
    Charting - Can Turn Horizontally Yes
    Charting - Technical Studies/Indicators30
    Watch List Syncing No
    Trading - Forex Yes
    Trading - CFDs Yes
    Alerts - Basic Fields Yes

    Other Notes

    For MT4 traders who meet a monthly minimum volume required, Global Prime offers two Virtual Private Server (VPS) services for free from third parties, including ForexVPS.net and BeeksVPS.

    Final Thoughts

    Global Prime is a long-standing forex broker, backed by Gleneagle Securities in Australia. Aside from social-copy trading options, the broker’s lack of research tools and small range of tradeable products puts it at a disadvantage compared to its peers. For traders who don’t require such tools, Global Prime offers competitive spreads on its main account type, which requires a $500 minimum balance.

    Forex Risk Disclaimer

    "There is a very high degree of risk involved in trading securities. With respect to margin-based foreign exchange trading, off-exchange derivatives, and cryptocurrencies, there is considerable exposure to risk, including but not limited to, leverage, creditworthiness, limited regulatory protection and market volatility that may substantially affect the price, or liquidity of a currency or related instrument. It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses."Learn more.


    Steven Hatzakis

    Reviewed by Steven Hatzakis Steven Hatzakis is the Global Director of Research for ForexBrokers.com. Steven previously served as an Editor for Finance Magnates, where he authored over 1,000 published articles about the online finance industry. Steven is an active fintech and crypto industry researcher and advises blockchain companies at the board level. Over the past 19 years, Steven has held numerous positions within the international forex markets, from writing to consulting to serving as a registered commodity futures representative.

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Trading CFDs, FX, and cryptocurrencies involves a high degree of risk. All providers have a percentage of retail investor accounts that lose money when trading CFDs with their company. You should consider whether you can afford to take the high risk of losing your money and whether you understand how CFDs, FX, and cryptocurrencies work. All data was obtained from a published web site as of 4/03/2018 and is believed to be accurate, but is not guaranteed. The ForexBrokers.com staff is constantly working with its online broker representatives to obtain the latest data. If you believe any data listed above is inaccurate, please contact us using the link at the bottom of this page.

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