Global Prime Review 2023 - Verified Customer Reviews

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Global Prime Review

Updated May 31, 2023
Score breakdown
Pricing: 4.5
Regulation: 4
Popularity: 3
User Rating: 4.7 (26)

Global Prime overall score rank: 10 out of 67

Global Prime forex broker review

Risk Warning: CFDs are complex financial instruments that carry a high risk due to leverage trading. The vast majority of retail investor accounts lose money when trading CFDs. You should always consider whether or not you can afford the high risk of completely losing your funds.


  • Direct ECN market access
  • Free deposit and withdrawals
  • Regulated in Australia and Vanuatu
  • Transparent trading with trade receipts

Regulations and Money Protection


Entity Name Licence & Regulation Client Money Protection  Deposit Compensation Scheme Negative Balance Protection
Gleneagle Securities PTY Limited (VU) Vanuatu VFSC Licence ✔️
segregated client money
Global Prime Pty Ltd (AU) Australia ASIC Licence ✔️


  • International customers: Gleneagle Securities PTY Limited (trading as Global Prime FX) will be the counterparty for International customers. This entity, registered in Vanuatu with company number 40256 and address at Govant Building, BP 1276, Port Vila, Vanuatu, is regulated by the Vanuatu Financial Services Commission (VFSC).

  • Australian customers: Global Prime Pty Ltd, (ACN 146 086 017), with registered address at Suite 604, 35 Grafton Street, Bondi Junction, Australia, is licensed by the Australian Securities & Investments Commission (ASIC). The broker is registered to carry out financial services business in Australia, limited to the financial services covered by its AFSL license. The trading name, Global Prime, used by Global Prime Pty Ltd, is also used by the other entities.

Client Money Protection

  • Global Prime complies with the highest safety standards for client's funds. For this reason, Global Prime client's funds are kept in top-tier international banks, such as the Westpac Banking Corporation (Westpac), a top-tier bank, fully segregated from the company’s funds.

  • Client money can be used for hedging, if the counterparty chosen when opening an account is the Gleneagle Securities PTY Limited entity (Vanuatu), trading as Global Prime FX.

Deposit Compensation Scheme

Global Prime Pty Ltd (AU) and Gleneagle Securities PTY Limited (VU), both trading as Global Prime FX, do not offer any deposit compensation scheme. This means that there's no mechanism in place to secure or mediate customers claims, arising from the broker's failure to meet its financial obligations with clients.

Negative Balance Protection

  • For accounts opened via Gleneagle Securities PTY Limited (VU) there is no guaranteed negative balance protection to prevent clients from keeping their accounts balance below zero. This means that in extreme market volatility and without an adequate stop loss in place, a losing trading position can cause a negative account balance.

  • For customers of Global Prime Pty Ltd (AU), there is a default NBP in place, protecting traders from any losses bigger than their original investments, in compliance with 2021 ASIC's new CFD trading regulations.

Anti-Money Laundering Policy

Under the Australian Anti-Money Laundering and Counter-Terrorism Financial Act, 2006 Global Prime has in place policies and procedures to ensure compliance with the law.

Accounts, Instruments and Platforms

Accounts Instruments Platforms Social trading Maximum Leverage
❌Islamic Accounts
✔️MT 4
❌MT 5
30:1 Australia

100:1 Rest of World

Account types and currencies

  • Global Prime has only two types of trading accounts available; Commission Free and Spread+Commission. Global Prime does not offers swap-free accounts for traders of Islamic belief.

  • Global Prime allows for social trading, including copy trading, through Myfxbook and ZuluTrade.

  • Global Prime does not offer PAMM accounts alternatives for money managers.

  • Global Prime maximum leverage is 30:1 for accounts opened within Australia, and up to 100:1 for accounts opened with the Vanuatu-regulated entity.

  • Currently, Global Prime trading accounts are only available in AUD, CAD, EUR, GBP, SGD and USD.

Financial instruments

Trading with Global Prime can be done via the Metatrader 4 and the TraderEvolution platforms, available on desktop terminal and mobile versions. Global Prime offers a limited selection of about 70 assets to trade, including Forex, indices, commodities and cryptocurrencies.

  • FX market - 46 currency pairs (including Minor and Exotic crosses).

  • Indices - 12 world indices including including GER 30, UK 100 and NIKKEI 225.

  • Commodities - 9 commodities CFDs available for trading; 6 metals (Silver and Gold included) and 3 energies including UK Oil and US Oil.

  • Cryptocurrencies - 5 CFDs crosses for trading, including Bitcoin, Ripple and Ethereum.



Commission-Free Spread+Commission
Spread EUR/USD from 0.4 pip from 0.0 pip
Commissions (1 lot) $0 $7
Minimum Deposit 200 AUD or equivalent 200 AUD or equivalent


Global Prime claims to provide traders with direct ECN market access. And they prove it by issuing detailed trade receipts for all trades. For the first time ever, traders will have access to the same level of transparency as institutional traders. This information includes which bank filled the trade, the slippage, speed, order book and tick charts showing market impact.

Global Prime trading spreads are competitive. With the Commission-Free account, for the EUR/USD, the minimum spread starts at 0.4 pip, with no trading commissionss. To benefit from the ultra-low spreads of the Spread+Commission account there’s a cost. For the same example, the EUR/USD, with spreads from 0.0 pip, the standard lot commission for 1 lot (100,000 units) is 7 USD (3.50 USD per side, per lot), or the equivalent on your account currency. We consider this commission to be on average compared with other brokers.

Rollover Rates

Global Prime swap rates, as of 08-09-22, for 1 lot EUR/USD (100,000 units) stands at an average rate of -10.824 points for holding overnight a long 1 lot contract and at +4.18 points for holding overnight a short 1 lot contract. We consider these swap rates to be slightly lower compared with the rollover rates offered by other top forex brokers.

Deposits/Withdrawals and Other Fees

  • Deposit fees - Trading accounts can be opened in 6 different currencies and maintained via 15 different funding methods, including cards, bank wires and e-payments such as Neteller, Skrill and Fasapay. Deposited funds are available instantly on the trading account. Global Prime does not charge any fees for deposits.

  • Withdrawals fees - Same policy applies for withdrawals (processing times vary depending on the withdrawal method chosen, normally within 1-10 business days). While Global Prime does not charge any withdrawal fees for e-wallet and bank wire transactions, if a client deposits funds via Neteller or Credit Card and then requests a withdrawal of these funds with no trading (or minimal trading) on their account, Global Prime reserves the right to charge the applicable merchant fees to the clients account upon their withdrawal. The minimum withdrawal amount is 1 unit of your account currency (50 for bank wires). For more information, please visit the Global Prime deposit and withdrawals dedicated page.

  • Inactivity fee - Global Prime does not charge an inactivity fee or any account maintenance fees.



Deposit/Withdrawals Fees Non expiring demo account Customer
Trading Guides
Video Tutorials
Daily Insights
Bank Wire
✔️ Multi language
24/5 Support
Live Chat

The popularity of Global Prime is a neutral 3 out of 5. Not one of the most popular brokers, despite their direct ECN market access claims. Still, Global Prime should be considered a sound option if traders are looking for an alternative broker with competitive trading costs.

Global Prime also loses a few popularity points with traders looking to diversify their trading portfolio. This broker offers very limited trading instruments, only one account and one trading platform to retail customers.

  • Trading accounts - The Global Prime Spread+Commission account is a popular choice with traders looking to save on trading costs, with a lower spread and a competitive commission of $7.00 per lot traded. Extra points for Global Prime's policy of no fees on deposits or withdrawals.

  • Forex education - Global Prime also gets extra popularity points for their range of Forex education materials, available through the Education tab. Global Prime clients can read a few trading guides, watch and learn with video tutorials, read and make informed decisions with Global Prime's Daily Edge (similar to a market report).

Funding Methods Bank Wire, Cards, Neteller, Skrill (Moneybookers), Local Bank Wire, Dragonpay, Zotapay, Fasapay, Local Bank (QR), Local Bank Wire (THB QR), Pagsmile, PayR, BPay, POli
Support Languages English, Portuguese, Thai

  • Minimum deposit - Opening a trading account with Global Prime is quite easy and fast, taking around 5 to 10 minutes to complete all the forms with the required information. The minimum deposit requirement is 200 AUD, or the equivalent on your account currency, for both account types.

  • Customer support - Global Prime's multi language customer support service is available 24 hours, 5 days a week, in 3 languages. Global Prime's support is available via phone call, email and live chat directly from the broker's website.

Broker Profile

Founded in 2010, Global Prime is a 100% Australian owned and operated FX and CFD provider specialising in low latency connectivity to tier-1 bank liquidity and ECNs for an unrivalled trading experience. The Company was originally founded to cater to the then booming user base of the MT4 platform. This was at a time when expert advisors were becoming more mainstream and ECNs broker’s were starting to become more common among retail providers.

In 2011, the management of Global Prime asked if Elan Bension and Jeremy Kinstlinger, current happy clients, could join the team to take Global Prime to the next level. Overnight, the two went from being traders to running a brokerage and the decision was made to open up Global Prime's transparent institutional Forex offering to retail investors. Bringing institutional benefits to the individual has been in the Company’s DNA ever since.

With Global Prime, all trades are placed directly into the market with the client receiving completely transparent service. Each trade can be confirmed by a trade receipt showing the liquidity provider who took the client's trade. Global Prime offers trading across 48 currencies and metals through tier 1 liquidity providers. Global Prime Pty Ltd, holds an Australian Financial Services License (AFSL no.385620), with offices in Sydney.

The Global Prime group of companies are good corporate citizens and takes their obligations as holders of Financial Services Licences in their respective jurisdictions very seriously. Global Prime is authorised to deal in securities, derivatives and foreign exchange contracts, as well as provide general and personal advice to retail and wholesale clients. Global Prime offers multilingual customer support to help each customer to strive.

Overall, on our Global Prime review, the broker scores 4 out of 5 as it is a broker to consider for traders looking for a company with decent pricing costs and fees. On the minus side, the choice of regulators overseeing and licensing this broker (offering little to no-protection for customers) could scare off some traders. Also on a negative note, the small offering of Forex educational materials and the limitation of trading platforms available (currently only via MT4 for retail clients) could be improved to cater for more potential customers.

Data supplied in partnership with CashBackForex - Forex Rebates places Global Prime on the top 15 brokers for popularity with traders opening an account in 2023.

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Global Prime User reviews

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(26 reviews)

Global Prime user rating score rank: 3 out of 67

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