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.
Please Note:Global Prime was not included in the2019 annual review. As a result, this brokers ratings may be outdated. Read ourBest Forex Brokers 2019guide 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.
Trading with a forex broker traders can trust is crucial to success. Unfortunately, forex fraud and scams are common in the industry.
Here at , 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.
The following table summarizes the different investment products available to Global Prime clients.
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.
Aside from its listing of ZuluTrade and Myfxbook Autotrade, for social copy trading Global Prime doesnt offer much else when it comes to research tools, making this category an area in which the broker is severely lacking.
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 ourMetaTrader guide.
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 Primes available MT4 offering and the default MetaTrader experience:
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 toMetaTrader..
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 and BeeksVPS.
Global Prime is a long-standing forex broker, backed by Gleneagle Securities in Australia. Aside from social-copy trading options, the brokers lack of research tools and small range of tradeable products puts it at a disadvantage compared to its peers. For traders who dont require such tools, Global Prime offers competitive spreads on its main account type, which requires a $500 minimum balance.
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.
About the author:Steven HatzakisSteven Hatzakis is the Global Director of Research for . 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.
Find out how Global Prime stacks up against other brokers.
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 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.
Advertiser Disclosure: ForexBrokers.com helps investors across the globe by spending over 1,000 hours each year testing and researching online brokers. How do we make money? Our partners compensate us through paid advertising. While partners may pay to provide offers or be featured, e.g. exclusive offers, they cannot pay to alter our recommendations, advice, ratings, or any other content throughout the site. Furthermore, our content and research teams do not participate in any advertising planning nor are they permitted access to advertising campaign data.Here is a list of our partners.
Disclaimer: It is our organizations primary mission to provide reviews, commentary, and analysis that are unbiased and objective. While ForexBrokers.com has some data verified by industry participants, it can vary from time to time. Operating as an online business, this site may be compensated through third party advertisers. Our receipt of such compensation shall not be construed as an endorsement or recommendation by ForexBrokers.com, nor shall it bias our reviews, analysis, and opinions. Please see our General Disclaimers for more information.