A leading Australian-based company, Global Prime is one of the most respected brokers emerging from Down Under. The company quickly rose to prominence thanks to their huge effort they’ve made in creating a fantastic trading experience for their customers. This particularly goes to customer support team, which is highly capable, responds quickly and won’t try to sell you anything, but merely help you with any potential problems. However, the broker has more interesting features that have played a significant role in its global success. That’s why we decided to give this company a more detailed look, which resulted in this Global Prime Review article. Here you can find everything you need to know about the brokers before you decide if you want to trade here or not. From account packages and trading platforms all the way to banking options, this review will give an unbiased opinion of this promising broker. So keep on reading and learn all the vital facts right now!
Global Prime Review | Logging in
Prior to actually commencing trades with the broker, you will be required to create a free trading account. The procedure is fairly simple, and we will analyze it as a sort of introduction to our Global Prime Review. You will be asked to provide some personal information, such as your full name, address, email, phone and such. You’ll also provide information about your previous trading experience, so that customer support team knows how much and which way to assist you. Upon filling the form and submitting it, a support team will review the credibility of given information. Also, due to the KYC policy implemented for the sake of regulation license, you’ll have to provide some personal documents – proofs of identity and residence, to be precise. Your government-issued ID or driver’s license may serve as a proof of identity, while utility bills and bank statements are considered as valid proofs of address. And that’s pretty much it – just be patient and wait for the approval, and you’ll be all set to begin your trading journey. Now, let’s see the features you’ll be able to experience upon signing up – read on!
Global Prime Review | Live and demo account
Since we have analyzed the simple registration procedure, this part of Global Prime Review will be dealing with features of both live and demo account. Live, also known as a real account is automatically opened the moment your application form is verified and approved. And it really packs some fantastic features. First of all, minimum deposit for opening the real trading account is set at 500 AUD but can be matched by any other supported currency. This includes USD, EUR, GBP, CAD, and SGD, but bear in mind that once selected, base currency cannot be changed later on. As for the account ownership, on the account creation page, users can choose among Sole, Proprietary and Company ownership. This means that a single trading account can be used by one person, several people or can be put under the jurisdiction of MAM. Standard leverage is set at 1:100, and can grow up to 1:200, while there is no negative balance protection implemented, as Global Prime tends to attract customers that are aware of their true possibilities and don’t want to risk more than they are ready to lose. Over 40 different currency pairs are available for trading with extremely low spreads thanks to the fully-transparent market providers. Minimum trade size is set at 0.01 lots for currencies and metals, while the fixed commission is 7 dollars per lot. You can choose whether you wish to pay the commission price separately, or simply have it incorporated in spread size. Finally, margin calls and stops are set at 120 and 100% respectively, giving you great trading conditions.
However, if you are a complete newbie in the world of Forex trading, the broker itself strongly suggests that you should start off by registering for a free demo account. This is because newcomers might find the whole concept of Forex market and trading a bit overwhelming, especially when trading with real money. Therefore, Global Prime offers a fully functional version of their live account, with the difference being virtual money instead of real one. That way, new clients can try out different strategies, learn the basic concepts of trading and get the grasp of the broker’s trading interface without the need of risking their own funds. Offering a demo account is still not the common practice among brokers, so we’re giving Global Prime a huge plus here. And that’s pretty much it when it comes to trading account – although the offer is quite basic, the superior quality of these products is out of the question. Now, let’s see if the same thing can be said for available banking methods. Stick around!
Global Prime Review | Banking options
Another interesting feature we’ll be analyzing during this Global Prime Review article is definitely banking options. Deposits can be made via bank transfer, credit cards or through Neteller e-wallet. If you decide to deposit using bank transfer method, you won’t be charged a single dollar by the broker. However, based on the location of your residence, you might be a subject to some intermediary fees imposed by your bank, which are completely unrelated to Global Prime itself. On the broker’s website, you’ll find all the details needed for completing your wire transfer, with which we’ve had nothing but the pleasant experience so far. The same thing can be said for Neteller, a popular e-wallet solution used and accepted in more than 180 countries worldwide. Here, transactions are completely free and fast, without hidden fees, with daily deposit limit set at 500 AUD. Keep in mind that your Neteller account must be linked to your trading account and verified, which can be done in a matter of minutes.
Credit card transfers support Visa and Mastercard and are genuinely faster than transfers conducted via bank wire. Again, a credit card linked to your account must match the one you’re using for money transactions, and you should also check that your card is eligible to receive refunds in case of rejected deposit. There is a fixed 3.25% fee for all credit card transactions that are charged by card processing company affiliated with the broker. Maximum deposit amount is set at 10 thousand AUD, and keep in mind that, due to regulatory compliances, all withdrawals made using credit card must be sent to the same card used for deposits. All exceeding withdrawals, however, will be handled with bank wire method free of charge. As for the time required to process withdrawals, it varies depending on the chosen banking method. Neteller and credit card transactions are usually processed in a couple of hours, while bank transfers can take between 1 and 5 business days. For the purpose of this analysis, we’ve thoroughly tested all available methods with various supported currencies, and everything went down as smooth as it gets. Therefore, in terms of banking, you won’t be experiencing any issues with Global Prime. However, if you do happen to stumble upon a problem, you know who to contact. Read on and learn everything about the broker’s famous support team!
Global Prime Review | Support
With Global Prime, getting professional help regarding any of your issues or concerns has never been easier. This solid team is made up of highly-skilled trading professionals and experts with decades of experience in various markets. You can reach them 24 hours per day, 5 days per week, that is, when the global market is open. Each and every member of this numerous staff is properly educated and knows the solution to every possible problem you might encounter. You can reach out to them via email, contact form or using the fantastic embedded chat application. Also, you can give them a phone call, if you prefer that way of communication.
As for our experience with this team, it has been nothing but exceptionally positive. To test their responsiveness and professionalism, we have sent a series of various queries regarding various trading aspects and via different communication channels. Their response was always swift, explaining the process of reaching the solution in a step-by-step manner. Therefore, it’s safe to say that when trading here, you’ll have a fantastic team of experts guarding your back. But, even it is very important, the quality of customer support doesn’t mean that other key trading aspects work flawlessly as well. Read the next part of our Global Prime review and discover how reliable broker’s official trading interfaces are!
Global Prime Review | Trading Platform
When it comes to the core trading interface, Global Prime decided to choose the most trusted platform in the world – MetaTrader 4. We have written about the interface numerous times before, but let’s once again stroll through the most important features. With millions of active traders, MetaTrader 4 is a cross-platform interface with a huge number of pre-installed tools, customizable interface and a vast library of helpful materials. It can be installed and run on any Windows-based computer, as well as on iOS and Android-based smartphones and tablets. Although Mac OS is not natively supported, you can install a Windows virtualization machine and run it on Mac computers as well, with the whole procedure described in details on the broker’s website. As for the technical aspect, here you’ll find over 30 different technical indicators to help you make correct predictions, including Bollinger bands, moving average, RSI and many more. There are also many trusted signal providers that enable you to copy trades of other successful traders, as well as the famous option for trading directly from the chart. Speaking of charts, they are fully customizable, with the support for multi-asset tracking if you want to get a detailed insight of them. Also, MetaTrader Market is a kind of educational library offering the biggest selection of trading robots, expert advisors and technical indicators in the world. Market news, advanced analytics and algorithmic trading options are present as well, making MetaTrader 4 the most used trading interface in the world. Download links for all supported platforms are provided on the broker’s website, so you’re free to choose your ideal one.
But the offer doesn’t quite end here, as there are some more specialized options present as well. For example, Global Prime offers a MAM/PAMM platforms to professional money managers. MAM or Multi Account Manager is a special iteration of MT4 platform meant to satisfy the needs of clients looking for a full flexibility while sub-allocating trades from one master account. Functioning as an add-on to the core platform, MAM account is ideal for traders managing several accounts who want the option to modify and trigger multiple trades for multiple accounts with just a single click. PAMM account, on the other hand, breaks down trades to underlying account based on their equity amount. This scheme is beneficial for both managers, who gain a percentage of profit from their clients’ successful trades, and for traders, who can experience high incomes when having their account managed by the experienced manager. Myfxbook AutoTrade option is present as well – being an automated trading social network, it enables you to find suitable, highly successful traders and mimic their trades completely. Here you don’t need to download any software, as the application is completely web-based and accessible from any device connected to the internet. Finally, FIX API protocol ensures swift, a real-time communication channel between client and liquidity provider, giving you the opportunity to use even the shortest chance of earning. As you can see, the broker has really made an extra effort while designing this offer, and we can honestly state that everyone will be able to find their favorites. Now, keep on reading the next part and learn about the legal side of the broker!
Global Prime Review | Legal and regulation
Another rock-solid proof is the fact that Global Prime is fully regulated by official Australian regulatory body, ASIC. Being recognized and regulated by this authority means that Global Prime successfully implemented various policies to their businesses, such as KYC, anti-money-laundering, and identity theft protection. Furthermore, SSL encryption and other security measurements have been embedded as well, meaning that both your funds and personal information will remain intact in case of any hacker attacks. All in all, we can freely say that this broker can be completely trusted, and now it’s time to bring this extensive Global Prime review to its very end.
Global Prime Review | Conclusion
As you have surely noticed by reading different parts of our Global Prime review, all of them have something in common – fantastic results. Yes, Global Prime, one of the most recognized Australian-based brokerage companies, has surely created a unique and fantastic offer. Here you’ll be able to custom tailor your account and its key features, but if you’re completely new to the world of trading, you’ll be able to test the platform by opening a free demo account. The variety of available platforms is fantastic – whether you’re a single trader, a part of a bigger company or account manager, you can fully utilize all great features incorporated in legendary MetaTrader 4. Banking works flawlessly as well, and the quality of support team might be one of the best we’ve ever seen. Finally, the fact that this broker is fully registered and regulated just adds the final touch to already great impression. Therefore, we can say nothing more but to wholeheartedly recommend you start trading here. So go on, register your brand new trading account for free and start enjoying the fantastic experience!