Written by David Johnson
Edited by Jason Peterson
Fact checked by Angelo Martins
Human moderated by Jason Peterson
Last updated September, 2024

Global Prime Overall rating

4.1
Ranked 76 out of 941 (Forex Brokers)
Overall rating is derived from an aggregate of ratings in multiple categories.
Rating Weight
User Rating 3
Popularity
3.2
3
Regulation
4.0
2
Pricing rating
4.7
1
Customer Support
5.0
1
Features
Not rated
1

Pros

  • Regulated by AU ASIC, a reputable authority.
  • High user rating of 4.4 out of 5.
  • Segregated client funds to enhance security.
  • Competitive average forex spread of 1.35.
  • Established in 2010, indicating a solid track record.
  • 143,533 organic monthly visits, showing good popularity.

Cons

  • No deposit compensation scheme.
  • No NBP protection for clients under VU VFSC.
  • Unknown swap rates.
  • Not publicly traded, reducing transparency.
* As of July 22, 2024

We tested Global Prime using real-money live accounts. Our reviews are unique in that they do not have any bias for or against any broker and are driven purely on the underlying data we compile from live account testing, regulatory data, and opinions from customers. We list all brokers and do not charge a fee for it. We offer additional visibility for a fee, but our review content cannot be influenced. Read our About Us page to read our editorial guidelines and how we make money.

Trustworthiness & Regulation

* As of July 22, 2024

Global Prime is regulated by AU ASIC and VU VFSC, with a solid user rating of 4.4 out of 5 from 28 total reviews. Of these, 26 are from users with verified real trading accounts. The broker ranks 20th out of 815 forex brokers based on user ratings and 77th based on expert ratings.

Established in 2010, Global Prime is well-regarded in the industry. The broker enjoys a popularity rating of 3.2 out of 5 and receives 143,533 organic monthly visits, ranking 109th in terms of organic traffic. It’s important to remember that even highly regulated and successful financial firms can face challenges and potential failure.

Company Licenses & Regulations Segregated Client Money Deposit Compensation Scheme Negative Balance Protection Rebates Max. Leverage Retail Clients
Global Prime Pty Ltd 30 : 1
Gleneagle Securities PTY Limited 500 : 1

Deposit Insurance

Global Prime does not offer a deposit compensation scheme. This means that, unlike some brokers regulated by authorities such as the FCA or CySEC, there is no safety net in place to compensate investors if the broker fails.

While the lack of such a scheme is a drawback, Global Prime's regulation by AU ASIC and its practice of segregating client funds provide a measure of security.

Spreads and Costs

* As of July 22, 2024

Global Prime offers competitive spreads and costs, especially in the forex market, with an average spread of 1.35. This is lower than many other brokers, indicating cost-efficiency.

The broker's crypto average spread is also reasonably competitive at 5.62, though there are other brokers with tighter spreads in this category. Overall, Global Prime's spreads are in line with industry standards, making it a cost-effective choice for traders.

Combined Spread/Commission Costs by Asset Class Compared to Market Leading Brokers

Broker - Account Type Crypto Average Forex Average Indices Average Commodities Average
Global Prime – Raw 5.62 1.35 1.43 0.09
FBS – Standard 22.74 2.14 - 0.17
IC Markets – Standard 9.14 1.49 1.32 0.10
Vantage Markets – Standard 8.64 1.99 - 0.11
Admirals – Trade - 2.43 - 0.19
RoboForex – Pro - 2.21 - 0.12
Forex.com – Standard - 2.98 - -

Crypto averages comprise (BTCUSD, ETHUSD), forex averages comprise (EURUSD, USDJPY, GBPJPY, EURGBP, AUDNZD, CADCHF), indices averages comprise (US30, AUS200), and commodities average comprises (XAUUSD, XAGUSD) and that data is sampled every 10 seconds for 24 hours to calculate the average. Forex is stated in pips, and the others are stated in base currency. All spreads including both spread and commission calculated in.

Our data comes from our sophisticated spread analyzer tool, which collects live account information and syncs with our performance analytics system. To compare all brokers and instruments with the latest live data, visit our spread analyzer tool. A spread is the difference between the bid (sell) and ask (buy) price of an asset and can vary widely between brokers and account types.

Some brokers charge higher spreads but no commission, while others charge both, making it crucial to assess the total cost, which includes both spread and commission. Our values reflect this all-in cost. Note that some brokers may set low costs on popular pairs like EURUSD but higher rates on other instruments.

Many brokers also advertise "as low as" spreads that may not reflect the true average or include commissions. Comparing true all-in cost averages across various instruments and asset classes is vital for accurate assessment.

Combined Spread/Commission Costs Per Instrument Compared to Market Leading Brokers

Broker - Account Type BTCUSD ETHUSD EURUSD USDJPY GBPJPY EURGBP AUDNZD CADCHF AUS200 US30 XAUUSD XAGUSD
Global Prime – Pro ECN 11.12 0.12 0.76 1.62 2.55 0.27 1.75 1.13 1.85 1.01 0.17 0.01
FBS – Standard 43.58 1.91 1.39 1.92 2.72 2.01 2.74 2.06 - 5.58 0.31 0.03
IC Markets – Standard 15.27 3.00 0.88 1.11 1.87 1.42 2.24 1.41 1.34 0.95 0.17 0.02
Vantage Markets – Standard 14.60 2.60 1.46 1.83 2.50 1.57 2.61 2.10 - - 0.18 0.03
Admirals – Trade - - 1.22 1.57 2.45 1.16 4.27 5.12 3.58 - 0.35 0.03
RoboForex – Pro - - 1.47 2.25 3.03 1.31 3.26 1.93 - - 0.22 0.02
Forex.com – Standard - - 1.41 1.65 4.20 1.54 5.22 3.86 - - - -

Swap Rates/Financing Fees

Swap rates are fees charged for holding a trading position overnight. Positive swap rates result in a payout to the trader, while negative swap rates incur a cost.

Global Prime does not publish it's swap rates and it's impossible to compare how competitive it is against other industry-leading brokers. Still, here are some examples of swap rates provided by the top brokers used in this compariosn:

Broker Best Average NZDUSD Swap Short NZDUSD Swap Long USDJPY Swap Short USDJPY Swap Long XAUUSD Swap Short XAUUSD Swap Long
Global Prime -- - - - - - - -
FBS -- -4.38 -0.14 -0.06 -2.87 0.63 6.05 -29.90
IC Markets Best -2.27 -0.10 -0.14 -2.59 1.25 20.78 -32.84
Vantage Markets -- -2.33 -0.22 -0.22 -2.65 1.00 18.90 -30.80
Admirals -- - - - - - 14.27 -31.59
RoboForex -- -5.81 -0.23 -0.30 -3.56 1.22 -3.00 -29.00
Forex.com -- - - - - - - -

Does Global Prime Offer Islamic/Swap-free Accounts?

Islamic accounts, also known as swap-free accounts, are designed for traders who cannot receive or pay interest due to religious reasons. Global Prime offers swap-free accounts for Islamic traders, allowing them to trade without incurring or receiving overnight swap or rollover interest on positions.

To qualify for an Islamic account, traders typically need to request it and may need to provide proof of their faith. It's important to check with Global Prime directly for specific requirements and conditions.

Other Fees

Global Prime charges additional fees that traders should be aware of. Based on top internet sources, here are some of the notable fees:

Fee Type Details
Withdrawal Fee Global Prime does not charge withdrawal fees for bank transfers, but third-party charges may apply.
Inactivity Fee There is no inactivity fee.

Comparison to other Brokers

* As of July 22, 2024

Global Prime compares favorably to other brokers in several areas. It is regulated by AU ASIC, which is a respected authority, and has a high user rating of 4.4 out of 5. The broker offers competitive spreads and costs, particularly in the forex market, and has a solid track record since its establishment in 2010.

However, it does lack a deposit compensation scheme and offers limited leverage for retail clients compared to some other brokers. Furthermore, clients under the Vanuatu VFSC entity are not protected by the negative balance protection mechanism, meaning retail clients will be liable for losses if their account balance falls below 0 due to extreme market volatility or next day opening gaps.

Trading Platforms - Mobile, Desktop, Automated

Platform Type Automated Trading Programming Language Ease of Learnability
MetaTrader 5 (coming soon) Desktop, Mobile, Web Yes MQL5 Moderate
MetaTrader 4 Desktop, Mobile, Web Yes MQL4 Moderate
cTrader (coming soon) Desktop, Mobile, Web Yes C# Easy

Global Prime offers MetaTrader 4 for desktop, mobile, and web, with MetaTrader 5 and cTrader coming soon. These platforms are known for their robust features, including advanced charting tools and automated trading capabilities.

MetaTrader 4 and MetaTrader 5 use MQL4 and MQL5 programming languages, respectively, which are moderately easy to learn. cTrader uses C#, which is easier to learn and widely used in programming.

What Can you Trade?

Asset Class Number of Instruments
Forex CFD 50
Crypto CFD 5
Stock CFD -
Stock Index CFD 16
Commodities CFD 21
ETFs -
Bond CFD 7
Futures CFD -

Global Prime offers a diverse range of CFDs, including 50 forex pairs, 5 cryptocurrencies, 16 stock indices, 21 commodities, and 7 bonds. The broker does not offer real stock or ETF trading.

CFDs allow traders to speculate on the price movements of these instruments without owning the underlying assets. This provides opportunities to use leverage, increasing potential returns but also the risk of significant losses. For more details on the available instruments, visit Global Prime's website.

Available Leverage

Global Prime offers different leverage levels depending on the regulatory entity and the type of account. For retail clients under AU ASIC, the maximum leverage is 30:1, while clients under VU VFSC can access up to 500:1.

It's essential to understand the implications of leverage, as it can amplify both gains and losses. Higher leverage is typically suited for experienced traders who understand the risks involved.

Prohibited Countries

Global Prime cannot open client accounts for residents of the United States, Canada, Japan, Iran, and North Korea. This restriction is due to regulatory and legal requirements in these countries. Traders should verify their eligibility with the broker before attempting to open an account.

Global Prime Account types

  Global Prime Raw Global Prime Standard
Commission$7.00 Per Lot Per 100K Traded-
Maximum leverage500:1-
Mobile PlatformMT4 Mobile
Trading platformMT4
Spread TypeVariable Spread
Minimum Deposit2000
Minimum Trade Size0.01
Trailing Stops
Scalping Allowed
Hedging Allowed
Islamic Accounts-
  Global Prime Raw
Commission $7.00 Per Lot Per 100K Traded
Maximum leverage 500:1
Typical Spread 0.1
Trading platform MT4
Mobile platform MT4 Mobile
Spread type Variable Spread
Minimum deposit 200
Minimum Trade Size 0.01
Trailing Stops
Scalping Allowed
Hedging Allowed
Islamic Accounts
  Global Prime Standard
Typical Spread 0.9
Trading platform MT4
Mobile platform MT4 Mobile
Spread type Variable Spread
Minimum deposit 0
Minimum Trade Size 0.01
Trailing Stops
Scalping Allowed
Hedging Allowed

Global Prime Web traffic

Our web traffic data is sourced from SimilarWeb and sums the traffic data of all websites associated with a broker. Organic visits are visits the broker didn't pay for, based on the available data. This data updates once monthly and can be based on data purchased from internet service providers, traffic metrics sourced by a third party such as Google Analytics that the company chooses to share with SimilarWeb, etc.

Websites
globalprime.com
Organic monthly visits 51,082 (99%)
Organic traffic rank 178 out of 941 (Forex Brokers)
Paid monthly visits 262 (1%)
Total monthly visits 51,344
Bounce rate 49%
Pages per visit 2.67
Average visit duration 00:01:16.6680000

Global Prime Profile

Company Name Global Prime Pty Ltd
Categories Forex Brokers, Forex Rebates
Primary Category Forex Brokers
Year Founded 2010
Headquarters Australia
Office Locations Australia, Vanuatu
Account Currency AUD, CAD, EUR, GBP, SGD, USD
Client funds bank Westpac Banking Corporation
Support Languages English, Portuguese, Thai
Funding Methods AstroPay, Bank Wire, Bitcoin, BPAY, Credit Card, FasaPay, Litecoin, Neteller, PayPal, POLi, Skrill, Vnpay (Vietnam), Alipay, ZotaPay, PayRetailers, Pagsmile (Brazil), AccentPay, Interac (Canada), DragonPay, Wise, Ripple
Financial Instruments Forex, Shares, Indices, Bonds, Oil/Energies, Metals
Prohibited Countries Iran, United States
24 hour support
Segregated Accounts
Islamic Accounts
Accepts Canadian clients
Accepts Japanese Clients
Non expiring demo
Trading API
Cent accounts
Negative balance protection
Social trading
Regulatory deposit insurance
Trailing stops
Bonuses
Interest on margin
Fixed spread
Variable spread

Global Prime User reviews

4.3
(28 )
Ranked 51 out of 941 (Forex Brokers)
This rating is based on 26 reviews by users that proved they are real customers of this company and 2 that did not. All reviews undergo significant human and technical moderation. Companies that get 30+ reviews by verified reviewers are scored only on their ratings by verified reviewers and get a green checkmark by their rating.

Newer user ratings have greater impact than older ratings and user ratings have no impact after 5+ years old. The more reviews a company receives, the higher the maximum possible aggregate user rating. After 100 reviews a company can receive the highest rating, which is an average of their user ratings.

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Global Prime Cashback rebates

Cash back rebates are paid per round turn lot unless otherwise specified. 1 Lot = 100,000 base currency units traded.
  Global Prime Raw Global Prime Standard
Forex$1.80 Per Lot - Monthly Cash Back --OR-- 25.71% - Direct Commission Reduction0.4 Pips - Monthly Cash Back --OR-- 44.44% - Spread Reduction
Metals$1.80 Per Lot - Monthly Cash Back --OR-- 25.71% - Direct Commission Reduction0.4 Pips - Monthly Cash Back --OR-- 44.44% - Spread Reduction
Payment Options
Monthly Cash Back
Payments are credited and sent automatically by the 12th day of the month for trades where cashback has been accumulated between the first and the last day of the previous month.
Commission reduction
By opening your account through us you'll trade on lower commissions!
Monthly Cash Back
Payments are credited and sent automatically by the 12th day of the month for trades where cashback has been accumulated between the first and the last day of the previous month.
Spread Reduction
By opening your account through us you'll trade on lower spreads!
  Global Prime Raw
Forex $1.80 Per Lot - Monthly Cash Back --OR-- 25.71% - Direct Commission Reduction
Metals $1.80 Per Lot - Monthly Cash Back --OR-- 25.71% - Direct Commission Reduction
Payment Options
Monthly Cash Back
Payments are credited and sent automatically by the 12th day of the month for trades where cashback has been accumulated between the first and the last day of the previous month.
Commission reduction
By opening your account through us you'll trade on lower commissions!
  Global Prime Standard
Forex 0.4 Pips - Monthly Cash Back --OR-- 44.44% - Spread Reduction
Metals 0.4 Pips - Monthly Cash Back --OR-- 44.44% - Spread Reduction
Payment Options
Monthly Cash Back
Payments are credited and sent automatically by the 12th day of the month for trades where cashback has been accumulated between the first and the last day of the previous month.
Spread Reduction
By opening your account through us you'll trade on lower spreads!

What are Global Prime rebates?

Global Prime rebates are a portion of the transaction cost that is paid back to the client on each trade, resulting in a lower spread and improved win ratio. For example, if your rebate is 1 pip and the spread is 3 pips, then your net spread is only 2 pips.

Many traders initially believe there must be higher costs elsewhere to compensate, however they soon find there is no catch and Forex rebates truly reduce the costs of the transaction and improve their bottom line.

How do Global Prime rebates work?

When you link a new or existing forex trading account to us the broker pays us part of their spread or commission profit for every trade you make as compensation for referring a customer to them. We then share the majority of our revenue with you, paying you a cash rebate for each trade you make as thank you for signing up with us.

Unlike some of our competitors your spreads will never increase as a result of using our service! The only difference is: as our client you earn extra cash per trade, making trading through us more profitable than opening direct with the broker. Founded in 2007, we are the original and leading provider of forex rebates. We pay rebates to over 100,000 accounts and traders love our helpful 24 hour live chat, telephone and email support.

How much Global Prime rebates can I earn?

Use our forex rebate calculator to estimate your Global Prime rebate earnings:

 
You must enter a valid number

Global Prime Regulation / Money Protection

4.0
Company Licenses & Regulations Segregated Client Money Deposit Compensation Scheme Negative Balance Protection Rebates Max. Leverage Retail Clients
Global Prime Pty Ltd 30 : 1
Gleneagle Securities PTY Limited 500 : 1

Global Prime Symbols

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