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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.

Steven Hatzakis | July 24th, 2019

help 72
Trust Score
Dislikes
  • Severe lack of research tools
  • Small range of forex pairs and CFDs offered

Review Sections:

Please Note: Global Prime was not included in the 2019 annual review. As a result, this broker's ratings may be outdated. Read our Best Forex Brokers 2019 guide for a look at the top rated forex and CFDs brokers.

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.

Is Global Prime Safe?

Global Prime is considered average-risk, with an overall Trust Score of 72 out of 99. Global Prime is not publicly traded and does not operate a bank. Global Prime is authorised by one tier-1 regulator (high trust), zero tier-2 regulators (average trust), and zero tier-3 regulators (low trust). Global Prime is authorised by the following tier-1 regulator: Australian Securities & Investment Commission (ASIC) Learn more about Trust Score.

Regulations Comparison

FeatureGlobal PrimeIGSaxo BankCMC Markets
Year Founded2010197419921989
Publicly Traded (Listed) No Yes No Yes
Bank No Yes Yes No
Tier-1 Licenses1664
Tier-2 Licenses0312
Tier-3 Licenses0000
Trust Score72999898

Offering of Investments

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

FeatureGlobal PrimeIGSaxo BankCMC Markets
Forex: Spot Trading Yes Yes Yes Yes
Currency Pairs (Total Forex pairs)4091182183
CFDs - Total Offered1415000329999959
Cryptocurrency traded as actual No No No No
Cryptocurrency traded as CFD No Yes No Yes
Offering of Investments 3 Stars 4.5 Stars 4.5 Stars 4 Stars

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

FeatureGlobal PrimeIGSaxo BankCMC Markets
Minimum Initial Deposit$500£250.00$2,000.00$0.00
Average Spread EUR/USD - StandardN/A0.7500.9000.744
All-in Cost EUR/USD - ActiveN/A0.3630.6000.744
Active Trader or VIP Discounts No Yes Yes Yes
Commissions & Fees 3 Stars 4.5 Stars 4.5 Stars 5 Stars

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.

FeatureGlobal PrimeIGSaxo BankCMC Markets
Daily Market Commentary No Yes Yes Yes
Forex News (Top-Tier Sources) No Yes Yes Yes
Weekly Webinars No Yes Yes Yes
AutoChartist No Yes Yes No
Trading Central (Recognia) No No No Yes
Delkos Research No No No No
Social Trading / Copy-Trading No Yes Yes Yes
Social Sentiment - Currency Pairs No Yes Yes Yes
Economic Calendar Yes Yes Yes Yes
Research 1.5 Stars 4.5 Stars 4.5 Stars 4.5 Stars

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
    FeatureGlobal PrimeIGSaxo BankCMC Markets
    Virtual Trading (Demo) Yes Yes Yes Yes
    Proprietary Platform No Yes Yes Yes
    Desktop Platform (Windows) Yes Yes Yes Yes
    Web Platform No Yes Yes Yes
    Social Trading / Copy-Trading No Yes Yes Yes
    MetaTrader 4 (MT4) Yes Yes No Yes
    MetaTrader 5 (MT5) No No No No
    cTrader No No No No
    Charting - Indicators / Studies (Total)51224781
    Charting - Drawing Tools (Total)31171724
    Charting - Trade From Chart Yes Yes Yes Yes
    Watchlists - Total Fields712128
    Order Type - Trailing Stop Yes Yes Yes Yes
    Platform & Tools 3.5 Stars 4.5 Stars 4.5 Stars 4.5 Stars

    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

    FeatureGlobal PrimeIGSaxo BankCMC Markets
    Android App Yes Yes Yes Yes
    Apple iOS App Yes Yes Yes Yes
    Trading - Forex Yes Yes Yes Yes
    Trading - CFDs Yes Yes Yes Yes
    Alerts - Basic Fields Yes Yes Yes Yes
    Watch List Yes Yes Yes Yes
    Watch List Syncing No Yes Yes Yes
    Charting - Indicators / Studies30264123
    Charting - Draw Trend Lines Yes Yes Yes Yes
    Charting - Trend Lines Moveable No Yes Yes Yes
    Charting - Multiple Time Frames Yes Yes Yes Yes
    Charting - Drawings Autosave No Yes Yes Yes
    Forex Calendar No Yes Yes Yes
    Mobile Trading 3 Stars 4 Stars 4.5 Stars 4 Stars

    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

    About the author: 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 20 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 02/18/2019 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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