Global prime review

Introduction of the broker Global prime

Global Prime offers accessible trading conditions that suit a wide range of traders. The minimum deposit of USD 200 is relatively low, making this broker accessible to most traders. The trading fee is set at USD 7, which aligns with industry standards.

The broker offers various types of accounts, including STP, ECN, and NDD, ensuring transparency and quick trade execution. Global Prime has an international branch in Vanuatu, and its main office is in Sydney at Suite 604, 35 Grafton St Bondi Junction.

Available Features and Services

Key features include one-click trading, API for creating custom trading applications, and OCO orders, providing greater flexibility. The broker allows hedging and trailing stop orders, contributing to profit protection. Mobile and web trading are also available, enabling traders to manage their accounts from anywhere. On the downside, Global Prime does not support clients from the USA, does not offer swap-free accounts, managed accounts, or telephone trading, which might be limiting for some traders.

The broker offers variable spreads, which can be advantageous during periods of low volatility. The maximum leverage is set at 1:30. The minimum lot size is 0.01, suitable for beginner traders, while the maximum lot size of 1000 is ideal for institutional traders.

Trading Platforms and Tools

The broker provides several trading platforms, including MetaTrader 4, web platform, mobile platform, ProTrader, and AutoTrade. This variety of platforms allows traders to choose the tools that best meet their trading needs and preferences. Global Prime's trading platforms are set to the GMT +3:00 time zone (Baghdad, Riyadh, Kaliningrad). This time zone is relevant for traders from these and adjacent regions who need to synchronize their trading activities with local time.

Global Prime supports a wide range of deposit and withdrawal methods, including bank transfer, credit and debit cards, WebMoney, Neteller, Skrill, FasaPay, local deposits, and Qiwi. This flexibility ensures that clients can easily and quickly manage their funds. The broker allows accounts in various currencies, including USD, GBP, EUR, CAD, SGD, and AUD. This option is beneficial for traders from different regions and with different currency preferences. Global Prime's customer support is widely available via phone, chat, and email.

Regulation

Global Prime is regulated by the Australian Securities and Investments Commission (ASIC) and the Vanuatu Financial Services Commission (VFSC). These regulatory bodies ensure a high level of security, reliability, and protection for clients. The broker also uses segregated accounts to protect client funds.

Global Prime User Ratings and Reviews

Global Prime has mixed reviews on various platforms. On Trustpilot, the broker achieves an average rating, with users often highlighting its reliability, fast trade execution, and quality customer support. Many also appreciate the broker's transparency and low spreads, such as the EUR/USD spread of 0.1 pip with a USD 7 commission.

On the other hand, some users on sites like Traders Union and Forex Peace Army report issues with slow money withdrawals and unsatisfactory customer support. There are also complaints about poor trade execution and suspected manipulation of price charts, leading to negative reviews.

Is Global Prime a Scam or a Safe Broker?

Global Prime is regulated by the Australian ASIC and holds an AFSL license, ensuring a certain level of safety and oversight over its trading activities. Due to this regulation, it is considered a relatively safe broker, although some users express concerns about its trading practices. Potential clients are advised to carefully consider both positive and negative experiences of other users and possibly explore other options.