Global Prime Overall rating

	Rating	Weight
User Rating	4.4 (28 reviews)	3
Popularity	3.2	3
Regulation	4.0	2
Pricing rating	4.7	1
Customer Support	5.0	1
Features	Not rated	1

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

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	Australia - AU ASIC					30 : 1
Gleneagle Securities PTY Limited	Vanuatu - VU VFSC					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

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

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

Comparison to other Brokers

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

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?

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 leverage	500:1	-
Mobile Platform	MT4 Mobile
Trading platform	MT4
Spread Type	Variable Spread
Minimum Deposit	200	0
Minimum Trade Size	0.01
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.

Global Prime Profile

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