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

I have an account with them which I opened about 1-2 years ago when i was trying out their service and platform, but ended up not staying with them due to the lack of funding options in the past. They have now improved greatly on that and i was once again ready to trade with them.

Upon trying to fund my account, I noticed that the name of the bank account I was trying to transfer to is "Gleneagle Securities Pty Limited GP FX AUD Trust Vanuatu Account". I was curious as to why was it under Vanuatu instead of Australia, so I contacted the support staff through Live Chat and found out that due to the recent changes in the financial regulation in Australia, they could no longer accept clients from overseas without paying a large sum of money for legal advice. And due to these changes, all overseas clients had their account shifted to the jurisdiction in Vanuatu, which is a island nation with a population of less than 300k and GDP per capita of $2,850. Australia has an GDP per capita of $55,000. (You can search the term "Vanuatu" in Google and research it for yourself). There's no way that country can offer the same amount of protection if you're comparing it to a country as developed as Australia.

Despite the Support staff's extremely honest answer and the great service provided to me, I still could not bring myself to put my money in a jurisdiction where they do not even have a process for external dispute resolution, and from the VFSC website i could see their support for complaint is almost non-existent.

Another thing is my account used to be opened under Australia's jurisdiction, and I'm not sure if I was even informed when my account was moved to Vanuatu. If the company had to shift to a offshore location to accommodate overseas client, why not shift it to their neighboring country in New Zealand? Instead of a completely remote island like Vanuatu that most people have never even heard of.

Would be nice if there's someone from the company who can clarify on this.

I cannot give this broker a star rating which counts for anything as I have never live traded so I will give the 3 star for average. However I guarantee that no one who live trades with them has fully READ and more important UNDERSTOOD their PDS. If they have they would understand as soon as your money goes in, there is no protection on any of it, you are liable for unlimited loss and also liable for other clients loss in a case of insolvency etc.

Most like a rep will reply to this trying to worm their way out of it and they are very good at it, but the facts are plainly stated in their PDS, if you haven't fully read and understood it go do it now.

Review Moderation Team Note: 3 Star Rating removed.

3 stars is NOT the same as No Rating. Giving 3 stars to a well-rated company can harm it. Giving 3 stars to a poorly rated company can improve its ratings. This is why the FPA offers No Rating.

I have been a client of Global Prime for 3 years now and have nothing but the highest praises for them. The experience has been one that has run smoothly and withdrawals are always processed efficiently and correctly. The team is always there to help out if there are any issues or even just for a quick chat on Skype. I trade at a few other brokers and there are others that are good too however Global Prime is hands down my favourite and I recommend the team and the work they are doing in forex highly.

I came across the name Global Prime in one of my trips into the net while searching trading knowledge.
I am so very happy for that to happen because after downloading the Demo MT4 I have experienced a high degree of reliability and the few times I had some issue to sort out, the people I have dealt with so far, have proved to be very helpful.

I was really excited to find the first broker with ethical principles in the market.

I was a few hours from opening my account with them, reading the terms and conditions of the contract that I was going to sign with Global Prime, when I read the following paragraph:

• (or) we have the powers and discretion to exercise those powers, without notice or reason, to cancel Transactions or adjust their prices or terms and, although we would exercise our powers in accordance with these Terms and our legal obligations, you may incur losses (including fees and charges) and miss investment opportunities as a result of exercising our powers.

What does this mean? What broker reserves the right to adjust the prices of my positions, close them to me whenever he wants, without me being able to do anything?

How consistent is this clause of the contract, with the slogans of Global Prime, which are positioned as "Transparent Broker" and "Fair Trade"?

"We were tired of our brokers interfering with our operations, so we created Global Prime. Traders should focus on their operations, not their broker."

This is a quote from Jeremy Kinstlinger (co-founder)!

Wow!!! I'm very impressed.

Please could the broker clarify for me how I can focus on my trading, not my broker, if I legally sign that Global Prime can do whatever it wants with my trades without notifying me?

Really appreciate the live chat they have on their website and them helping me get everything set up properly. Definitely would suggest them, especially if you're new like me they have great customer service that really helps you.

Global Prime is what evolved to be a best one what trader can today partner with. The quality of service, transparency and willingness to help traders to succeed are the values everyone looks for. Thanks for being here for us, traders Global Prime.
Milan

I have been trading with Global Prime for 3 years and not once have I had a bad experience. The owners of Global Prime are approachable and responsive to any and all requests. I find it easy to make a deposit and also easy to withdraw money to my accounts.

Hi all,

Just a quick note to say don't forget to scroll down and select 'Show All' reviews. There's quite a few to go through but you'll get a good feel of how our clients feel about Global Prime.

All the best
Jeremy

I opened a Demo account and place n order on GPBNSD, On October 13th there was a huge candle which I did not see it in other two platform that I had and eventually, t hit my take profit, but it was not triggered, however, few days later eventually the price did hit my target. This sort of the activity you can see only with a Market Maker, not an ECN Broker, so I wonder how this happened. I will monitor more and provide an up-date.