Global Prime review - regulations, trading platforms, broker features, and user ratings.
5 star review by Anand R Avakanvar, Australia
What is Global Prime?
Global Prime is an Australian forex broker established in 2010 and regulated by ASIC (Australia) and VFSV (Vanuatu).
Global Prime offers popular MT4 trading platform as well as Trader Evolution Desktop, and Trading View platforms.
GlobalPrime trading instruments include over 40 forex currency pairs, cryptocurrencies including Bitcoin, Ethereum, as well as commodities, stock indexes, and individual stocks as CFDs.
GP broker supports all trading styles including news spike trading, expert advisors, and scalping. Global Prime is connected with ZuluTrade, supports MyFxBook CopyTrade and provides Demo accounts for strategies testing.
Please read Global Prime reviews below and share your live trading experiences with this broker.
|Minimum Trade Size:||0.01|
|Minimum to Open Live:||$200|
|Address:||Level 10, 627 Chapel St, South Yarra, Victoria, Australia, Australia|
|Contact:||firstname.lastname@example.org, 61 (2) 8379 3622|
|Regulators:||ASIC #385620, VFSC #40256|
|Trading platforms:||MT4, WebTrader, Desktop Terminal, MobileTrader (MobileApp)|
|Web Trading:||✅ Yes|
|Mobile Trading:||✅ Yes|
|Cryptocurrencies:||Bitcoin, Litecoin, Ethereum|
|CFD:||(25+) Gold, Silver, Other Precious Metals, Stocks, Stock Indexes, Bonds, Oil, Other Commodities, ETF|
|News Trading:||✅ Yes|
|Copy Trading:||✅ Yes|
|Deposit Methods:||Bank Wire (BankTransfer/SWIFT), VISA, MasterCard, AccentPay, Boleto, BPAY, Dragonpay, FasaPay, Local Bank Deposits, Local Bank Transfers, Neteller, PayPal, Poli, QR Payment, SEPA (Single Euro Payments Area), Skrill, Zotapay|
|Withdrawal Methods:||Bank Wire (BankTransfer/SWIFT), VISA, MasterCard, Neteller, Skrill|
Global Prime Most Helpful Customer Reviews
Excellent Spread/ CFD broker.
This is why I use Global Prime. They allow me to make trade after trade with no execution fees on EU/ US Index positions. Using fractional positions, scaling in and out without commissions gives me a winning advantage. I often get positive slippage and never get a void or delayed trade when entering a market order. The liquidity is always there, even outside cash hours. Execution is instant. The platform I use is Trader Evolution and it's never crashed (I trade each day), incredible!
I use Paypal to withdraw and deposit. It has never been a problem and again, there is no cost. The money always arrives the next day and from my paypal account I send it to my bank account.
I highly recommend these guys. By far the best service I've received in the industry and I have absolutely no intention of looking elswhere.
Swap issue solved and withdrawal on the way
As mentioned earlier the agreed to bear the costs for the mistake they made...
All in all there conditions are good. Also they are a regulated broker.
But they have to work on the way how to communicate a mistake on their behalf to the client. That was upsetting.
But all solved and I might keep trading with them.
Jul 20, 2022 - 1 Star I started trading with Global Prime last week and had some good profittable trades on UK oil. So yesterday I requested withdrawals to get my profits out.
I wouldn't believe my eyes when they wrote me an email today, all withdrawals frozen due to some miss calculation on swaps. The swaps going LONG on UK oil on Friday night were pretty simular to the ones on Thursday night, Wednesday night or to the ones they have today.
Wednesday Swap: 11.71400
Thursday Swap: 13.54300
Friday Swap: 16.93300
Today Swap: 14.22900
They can't tell me what was wrong, they don't know how long the investigation will take, no answers, no communication. Just I'm not getting my funds!
Guys, DON'T TOUCH THAT BROKER. They come back to you after few days and wanna steal money from you. SCAM ALERT!!!
Great support team
In the end, it turned out to be the bank's fault.
Mar 2, 2022 - 1 Star It has been more 19 days since I requested a withdrawal via card, max time to get the money back in my card was 10 days.
They say i should talk to my bank and gave me ARN codes, but my bank says there are no deposits in transit.
I began trading with them since they're supposed to be an a-book broker with no conflict of interest with the client, but it took 1 day to get a withdrawal with FBS.
I can't believe this is happening, specially since they have 4.74 rating on FPA.
All resolved - Thanks GP!
The email I received from GP said that I had to "close all positions as they could no longer server me as a client" - but their management clarified that this timeframe for ending the service is not immediate and may be long into the future. In the meantime, GP is happy to keep me on as a client, so I'm happy :)
Apparently, it stems from some legal suit of an unrelated firm with Ontario, making Ontario a high-risk venture for brokers.
As the saying goes, "it's not the mistakes you make, but how you resolve them that matters" and GP did an excellent job of resolving this.
5 stars and A+ !!!
Mar 26, 2022 - 1 Star I have been using a Global Prime Live Account for over 5 years - since they were a small, unknown broker. In this time I have had a mostly positive experience with them and have contributed on their Discord forums, etc. Was even interviewed about my trading Algo and methodology to create content for their YouTube channel.
Recently, they emailed me to inform that I should "wind down all my trades and close my account", since they cannot serve clients in Ontario, Canada.
They apparently stopped taking applications from Ontario many years ago (after I applied), but were happy to take my commissions and my contributions to their growth this whole time without letting me know that one day my account would be axed.
I feel so used and swindled. You have been warned.
Jan 4, 2019 - 5 Stars Was with Questrade for 2 years (because I had other investments with them, so it was easy to get MT4 setup). They shut down their MT4 support in mid-2017 so I did quite extensive research before settling on Global Prime (GP).
I was immediately struck by how much more tick data came through - almost instantaneous updates of market conditions. I also liked the structure of low-spreads + a commission instead of the fees bundled into the spreads like most brokers do. Way more transparency that way.
I also liked the funding method (through NAB I believe) which allows me to fund with a credit card.
The icing on the cake was this past week with the JPY "flash-crash". GP stayed open the whole time and I was able to trade around the event. I read horror stories of users with other brokers being locked out of their accounts, etc. It seemed that all of my stops were also honored with minimal slippage - fantastic! Lastly, although I came out ahead after the crash, there was a period where my account was in negative balance and GP did not force close my trades - unlike other brokers.
So after a year+ with GP, I would say I am thoroughly pleased.
Reply by jemook submitted Jan 24, 2019 Hi afeudale,
Glad you are enjoying your time with us and a huge thanks for leaving a review for us. I can't believe it's already been a year since you opened an account with us - the time has flown. Looking forward to many more happy years together.
Recent User Reviews of Global Prime
Global Prime is an Excellent Broker
Global Prime has low spreads.
They have excellent trading conditions and superb customer care/
Thanks for your glowing review!
We've been glad to have you as a client for the last two years, and you're still impressed with our low costs, fantastic trading conditions, and our extremely dedicated 24/7 client support team.
I look forward to having you as a client for many more years to come.
Apr 3, 2023 - 1 Star I'm trying to request a withdrawal, but the broker has taken down their customer portal, changed their name to Afterprime and refuses to process my withdrawal request.
Reply by Xavier Herrera submitted Apr 4, 2023 Hi Ramon,
We can certainly appreciate how frustrating and confusing this situation must have been. We're happy to take the time to clarify this for you.
You are still able to access your funds, we just need to put you in contact with the right people.
You may have received an email in the past month or so that the old team of Global Prime have created a new broker "Afterprime" which you have been migrated to. As you're a client of "Afterprime", we cannot process the withdrawal for your account.
As we understand, you are already in touch with 'Afterprime', please follow their instructions to process your withdrawal. In case you need the contact information, please contact email@example.com.
Real ECN Broker with proof of order book of every trade
Execution is No.1
Orders goes to directly into liquidity provider.
There is no Manipulation or price requote.
Global Prime Liquidity Provider permantly increasing spread
Even though my account was in NET loss not profit the changes were made, seemd GP LP is happy to take your lossess but if you trades are instantly successful you will be penalised.
Frequently Asked Questions
Is Global Prime a good broker?
The best way to understand if Global Prime is a good broker is to read the unbiased traders reviews on ForexPeaceArmy. https://www.forexpeacearmy.com/forex-reviews/9018/www.globalprime.com.
Please come back often as broker services are very dynamic and can improve or deteriorate rapidly.
Additionally, we'd recommend to check recent Global Prime community discussions: https://www.forexpeacearmy.com/community/tags/globalprime.
Is Global Prime regulated?
Global Prime is also regulated by the Vanuatu Financial Sevices Commission under license VFSC #40256
What is the leverage for GlobalPrime?
- Standard leverage is 1:100
- Maximum leverage is 1:200
- XAUUSD leverage is 1:100 regardless of the account leverage setting