Global Prime review - regulations, trading platforms, broker features, and user ratings.

This broker has offices in Sydney and on the Gold Coast. However, when trading into a major news announcement I had HUGE slippage. On RBA announcements you can expect slippage of 185 points or more, whereas the other brokers in Australia such as Pepperstone, AxiTrader, GoMarkets and VantageFX averaged 70-80 points.
They have good service and are willing to support newbie traders coming in with $5000 deposit, but you will pay commission plus the spread on every trade.
Overall, the support was great but the slippage of 105 points above the Australian average caused me to close my account and withdraw my funds.
They are probably suited to high worth accounts in the $50 to $100,000 range.

Responses of this broker were very frequent until fund. Once I funded, they had never responded 100% of my questions and request.
The commission of contract was $10 per a round lot, however, they had charged $40 per a round lot on my real account.

I could have defected from them with help by the Financial Ombudsman Service.

I recommend all traders not to use this broker.

I wouldn't trust a broker with my money that has spelling mistakes on it's website! Stick to the well known brokers.

Dear clients and future clients of Global Prime Forex,

I'd like to inform you that Global Prime Forex has undergone a management change. Elan Bension, Alex Neo and I have teamed up with Global Prime with the aim to redevelop the way a traditional broker is run. We look forward to working closely with our clients and our intent is to effectively manage Global Prime in a completely transparent way by providing our clients with honest answers to anything they ask of us as well as providing a brokerage service that is second to none.

Global Prime is an ECN only MetaTrader 4 forex broker offering some of the tightest spreads across 42 currencies through tier-1 liquidity providers.

All the best,
Jeremy Kinstlinger

jeremy.k@globalprime.com.au / www.globalprime.com.au/forex

I have traded with this broker for few months now and no issues good execution and low spreads. also very good support always get back to me soon with any queries and go out of the way to help. so far is very good I would recommend to others.

Hi:

I have been using this broker for a few months, and think that they are outstanding and would have no hesitations in recommending them to my friends or family. Their response to questions superquick and knowledgeable. My understanding is that a motivated new management has taken over in the last 6-12 months.

Regards
Mark

Hi all, i have been trading with Global Prime for the past 5 months and am extremely happy with the service and brokerage. Had a discrepancy with an order, the team provided me with a trade receipt which showed exactly which bank took my order to the millisecond. Great news that my trades were going direct to the market. Overall great spreads and brokerage would be happy to recommend to any trader.
Thanks guys!

Martin

Joined Global after reading positive reviews on the Steve hopwood forex forum website. Very attentative to email and phone always good with advice and ready to answer questions. Trading platform is stable spreads are very good no disconnections and happy to recommend to others. Regards paul

Very good experience with this Global Prime. Good service and good to talk with the team always available to help even if I am always calling with the questions. I have asked my two colleagues to trade with this broker and will recommend to other trader.

I signed up a live account with Global Prime originally because I trusted Steve Hopwood's opinion, and I liked what Jeremy was saying in the forum about Global Prime. I have been testing some strategies and deliberately using 0.01 lots - I prefer to test strategies on real accounts, have never trusted demos.

The speed of execution has been excellent - I always think part lots execution speed are the sign of a good broker. Sure, there are lots of liquidity providers who can take multiples of full lots easily, but there was a risk that the number accepting part lots (especially as small as 0.01) would be a lot smaller, therefore affecting the spread negatively. Not so with Global Prime - I haven't seen any negatives yet.

My previous brokers used to try all sorts of tricks - this is actually really refreshing now, feels weird!!

I normally take reviews I read on the internet with a pinch of salt, but I encourage anyone reading this to try it for themselves and make up their own minds.