Global Prime Review – A Forex Trading Platform You Must Learn About

James Harrison
global-prime-forex-trading-platform-review

Global Prime Pty ltd is a forex broker. It is an Australian brand that provides trading services in FX and CFDs. Global Prime Pty ltd was found in 2010, a time when the advice given by experts was becoming mainstream and ECNs were gaining popularity amongst retail brokers. The MT4 platform had just seen a surge of traffic and Global Prime Pty ltd was made to cater to this influx of people.

In 2011, Global Prime Pty ltd decided to take their company a step further by asking two of their clients, Jeremy Kinstlinger and Elan Bension, to become a part of the team. Upon agreement, Global Prime Pty ltd transformed into a transparent institution that was offering Forex and the clients went from being traders to operating a brokerage. Alongside the CMO, Bryan Kelly, and GM, Angus Walker, the brand was able to provide fair trading services to its clients.

As a whole, the firm has over 80 years of experience in the Financial Services Provider market. Global Prime Pty ltd is regulated and licensed by authorities in Australia, Seychelles and Vanuatu. In Australia, the company now holds the Australian Financial Services License (AFSL). In Seychelles, the company has been registered under the number 8426189-1 and has been issued a Securities Dealers License SD057 by the FSA. In Vanuatu, the company runs under the Gleneagle Securities Pty ltd and has been registered under the number 40256. The regulating body, VFSC, in Vanuatu, keeps the firm in check.

In this review, we will be going through all the aspects of forex trading followed by Global Prime Pty ltd including trading tools, their platforms, rules, regulations, deposits, withdrawals and pricing. 

GLOBAL PRIME PTY LTD OVERVIEW:

  • Micro Lot trading
  • 24/5 markets
  • Zero fee funding
  • No restrictions
  • Low minimum deposit
  • Instant payments
  • Controlled by some of the best and secured financial institutions
  • Experienced and have high-profile partners

GLOBAL PRIME PTY LTD COMPANY PROFILE:

Global Prime Pty ltd is a 100% Australian firm and is operated through FX and CFD providers. The firm’s aim is to provide low latency connections to tier-1 banks for liquidity and ECNs to ensure an unrivalled and seamless trading experience.Global Prime Pty ltd ensures that all your trading needs are met under one roof. The company operates through a regulated trading environment and executes its trading activities through an STP connection. The firm has successfully brought together powerful trading platforms and copy trade capabilities, all of which have tight spreads.

Global Prime Pty ltd has expanded operations to over 120 countries and has 20 liquidity providers on boards to ensure the most satisfactory results. The headquarters are located in Australia, and the Australian Securities and Investments (ASIC) is responsible for regulation of the firm. Global Prime Pty ltd deals with Forex, CFD and cryptocurrency instruments. The firm offers market competitive prices with desired quality services.

GLOBAL PRIME PTYLTD REGULATIONS:

The company has been regulated by bodies in Australia and Vanuatu. In Australia, the firm has been licensed through the Australian Financial Services License (AFSL). This licensing has allowed the firm to carry out financial activities within the legal framework, foreign exchange contracts, deal with securities and derivatives. The company also has full authority to give advice to clients on a professional level.

Global Prime Pty ltd falls under the wings of the ASIC and then intervention of the ASIC guarantees security to clients, investors and creditors. In Vanuatu, the company has been regulated by the VFSC and is registered under the number 40256. It operates under the name of Gleneagle securities Pty ltd.

The company has also been registered in Seychelles under the number 8426189-1 and has been issued a Securities and Dealer’s license by the FSA. Traders from UK and Canada are not permitted to open trading accounts with the firm. However, the site is used by more than 10,000 traders globally.

GLOBAL PRIME PTYLTD TRADING PLATFORMS:

Global Prime Pty ltd offers trading services through different platforms. These include the industry standard MetaTrader 4, TraderEvolution, FIX API and others. This combination of the most popular platforms allows for a smooth trading experience at low costs, market access on a global level without any limitations. Global Prime Pty ltd is EA, HFT and scalper friendly.

1. METATRADER4

The MT4 is an ideal choice for clients who are opting for trading methods that are aligned with the industry standards. MT4 is accessible for both, android and iOS users, and clients can either install the software or access its web-based version. For clients using the MT4, a long list of custom metrics will be available at their fingertips, alongside several customizable charts and in-depth analysis. The platform allows for expert advice, automated trading systems, scripts and indicators.

2. FIX API

The FIX API solution is aimed at providing a platform with minimum latency, for carrying out trading activities. Global Prime Pty ltd hosts in Equinix NY4 and utilizes direct-cross connects via optical fibers. This makes trading accessible to different counterparts, ECNs and technology providers.

3. TRADER EVOLUTION

TraderEvolution is the ideal platform for professional traders who are looking for platforms that can target more complex and sophisticated trading activities which require advanced functions. The trend of operations on TraderEvolution is similar to the MetaTrader 4 platform but has additional features that includes Level 2 pricing, DoM trading and Volume Analysis. The software is compatible on all android, windows and iOS devices. 

4. VPS

For clients that are looking for a solution to network latency and maintaining connectivity of the platform that is being utilized, VPS is the answer. VPS takes into account how crucial time is when it comes to trading and presents clients with an automated platform that doesn’t require any additional hardware devices and doesn’t lag behind in case of power and internet issues. Global Prime Pty ltd offers clients the additional benefit of free VPS hosting.

GLOBAL PRIME PTY LTD DEMO ACCOUNT:

Global Prime Pty ltd does offer a demo account which is applicable across the MetaTrader 4 and EvolutionTrader platform. This demo account is for clients who are looking to practice and execute their trading skills in a risk-free environment and don’t want to invest their capital without any prior experience.

Once the user has some grasp over trading, they can switch to a live account and start trading with real capital as they dive into different financial markets.

GLOBAL PRIME PTYLTD DEPOSITS AND WITHDRAWALS:

Global Prime Pty ltd does not charge any deposit and withdrawal fee and offers a wide range of networks for clients to make their transactions from.

  • MasterCard
  • Visa
  • Neteller
  • Skrill
  • AccentPay
  • DragonPay
  • FastPay
  • Local Bank QR codes
  • Credit card
  • Debit Card
  • Bank wire transfer (this comes with intermediary charges by the bank)

ACCOUNT CURRIENCIES SUPPORTED BY GLOBAL PRIME PTY LTD:

Global Prime Pty ltd deals with various currencies to meet the needs of its expanding client-base. Some of the currencies that they deal with include the follow:

  • USD
  • AUD
  • GBP
  • EUR
  • SDG
  • CAD

GLOBAL PRIME PTYLTD FEES AND COMMISSIONS:

Global Prime Pty ltd follows a fair and transparent pricing scheme to charge their clients for the services that are offered. The rates that are offered are affordable and market competitive.

1. TRADING FEE:

Global Prime Pty ltd does not have a trading fee but it charges commission on each trade activity depending on the size of the trade and the currency in which the trade is being carried out. This means that the commission varies from client to client.

Spreads start from 0 pips and go up to 1. If a client is trading in EUR or USD, pips start from 0.1 and if clients are trading in GBP then pips can go up to 0.6 on the FTSE100, the average is 0.84 pips and 1 on NASDAQ 100. Global Prime Pty ltd offers a leverage of 1:100 and 1:200 maximum with a 0.5% margin requirement at minimum.

2. INACTIVITY FEE:

Similar to other brokers, Global Prime Pty ltd also archives accounts if they haven’t been active for 90 days. However, demo accounts do get closed in case no trading activity has been observed for over 30 days. There is no inactivity fee that is charged.

PROS:

  • Deposits and withdrawals can be carried through multiple channels
  • Wide range of trading platforms
  • Segregated client funds
  • ECN accounts
  • Complimentary VPS hosting

CONS:

  • Trading features aren’t accessible for residents of Canada or the US
  • Non-FX instruments are limited in number
  • Doesn’t support MT5 platform

CONCLUSION: SHOULD YOU TRADE WITH GLOBAL PRIME PTYLTD?

Taking into consideration the factors mentioned above, it is safe to conclude that Global Prime Pty ltd is a good choice for trading as it abides by all financial and legal regulations and offers top-notch quality services at reasonable rates.

In addition to the prices, the company offers a variety of platforms to choose from and has market competitive and tight spreads. The firm has an experience of over a decade in this field and has maintained its reputation.

GLOBAL PRIME PTY LTD FREQUENTLY ASKED QUESTIONS

1. Is Global Prime Pty ltd trustworthy?

Global Prime Pty ltd has been issues licenses and is regulated by various regulatory bodies that ensure the safety of clients, thus making it trustworthy. Customer reviews are also a testament to the services and the transparency and receipts provided by the company makes it credible.

2. Who owns Global Prime Pty ltd?

It is a division of the Gleneage Securities ltd in Australia.

3. How can I contact Global Prime Pty ltd.’s support line?

Global Prime Pty ltd offers three options; live chat, phone call and email.

4. What is the minimum deposit limit?

In order to start trading, clients are required to make a minimum deposit of AUD $200.

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