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Global Prime Forex
CFD service. Your capital is at risk
Minimum Spreads for Major Currencies
0.0 pip
Available markets
Forex, cryptocurrencies, indices, commodities, shares, bonds
Platforms
MetaTrader 4
Trading View
General information only. All forms of investments (and in particular, trading CFDs, commodities and forex) carry significant risk, including the risk of losing more than the invested amounts, market volatility and liquidity risks. Past performance is no guarantee of future results. Such activities are not suitable for most investors.

Our verdict

Trade forex and CFD products with an ASIC-regulated trading platform that doesn't hold a B-Book.

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Global Prime is a CFD and forex broker that is built for traders who are looking to trade like institutional investors.

Whether it's low fees, trade receipts or advanced charting, Global Prime has you covered. Unlike most of its competition, it doesn't run as a market maker (B-Book), meaning Global Prime doesn't bet against your trade.

Another key feature of Global Prime is its "discord" trading community, which can help you improve your trading by asking questions to the broker right through to learning from other traders.

On the downside, it doesn't have as many options as some of its competitors. You will also need a larger initial deposit to get started.

Pros

  • Doesn't run a B-Book
  • Trading community
  • TraderEvolution and other advanced trading features
  • Can trade in multiple currencies – AUD, USD, GBP, CAD, SGD and EUR

Cons

  • Large initial deposit
  • CFDs are risky assets

In this guide

  • Our verdict
  • Details
    • Product details
  • Your reviews
  • Ask a question

Global Prime is a desktop and mobile trading app that allows you to trade forex and CFDs through an ECN model. This means that the broker does not run a B-Book or make money by going against your trades.

The broker also offers tight spreads and fast trade executions on more than 40 currency pairs, cryptocurrencies, commodities, indices and individual stocks as CFDs.

Details

Product details

Type of broker Online
Available markets Forex, cryptocurrencies, indices, commodities, shares, bonds
Minimum Spreads for Major Currencies 0.0 pip
Commission $0
Minimum opening balance $200
Minimum Trade Size 0.01 Lot
Leverage 1:30
Platforms MetaTrader 4
Trading View
Support Phone, email, and livechat
More Info

How does Global Prime's platform work?

Global Prime offers traders 100+ markets for forex, indices, commodities, digital currencies, shares and bonds. Unlike other platforms, Global Prime runs under an ethical dealing model.

Unlike most of the industry, it doesn't run as a market maker and doesn't have a B-Book (bet against its clients), but instead connects users to markets.

Assets you can trade with Global Prime

  • Forex
  • Digital currencies
  • Indices
  • Commodities
  • Shares
  • Bonds

What other features do you get with Global Prime

Ethical dealing model

Global Prime runs an ethical dealing model. This means that the broker acts as a middleman, sending your trades to others.

In many situations, the forex broker will operate as a market maker or B-Book.

This means orders are processed by the trading platform itself. In this instance, if you as the trader lose money, the broker gains. Global Prime does not run off this model.

TraderEvolution

One of the key features of Global Prime is its TraderEvolution platform. This might not necessarily appeal to all traders, but it allows you to seek more advanced functionality for orders and algorithmic trading.

Designed for professional traders, it has more than 10 customisable charts, market depth analysis and one-click trading. It also allows you to break the market down by multiple time frames.

TraderEvolution model app

If you sign up with Global Prime, you'll gain access to its TraderEvolution platform app. This offers most of the functionality of the web version, but has some limitations, especially with charting and viewing options.

Detailed trade receipts

In order to help traders make better decisions in the future, Global Prime offers detailed trade recipes. The broker says trade receipts promote the removal of conflict between the broker and their clients through ethical and transparent dealing models.

Discord trading community

Global Prime runs an interactive trading community that can help you learn from the broker themselves or other traders.

Institutional trading benefits

Global Prime offers a number of institutional trading benefits, including the following:

  • They don't trade against their clients
  • Fast execution speeds
  • Access to global markets
  • Reduced slippage
  • Lower trading costs

How much does Global Prime cost?

Global primes runs a spreads plus commission fees structure on its trading.

How much you'll pay in spread fees varies from account type and what you are trading.

If you choose a traditional ECN fee model, spreads start from 0.0 PIPs and $7 lot commissions.

Take a look at the Global Prime app

Screen shot of Global prime app on smartphone

Customer reviews of Global Prime

Google Play app reviews4.1/5 stars based on over 340 reviews
Apple App Store app reviews4.6/5 stars based on over 695 reviews

Global Prime's customer support

You'll be able to quickly reach a Global Prime representative in a few ways:

  • Email support
  • Phone
  • Live chat

How to open an account with Global Prime

What you'll need

  • Name and phone number
  • Driver's licence, Medicare card or passport

Steps to register

  1. Select "Go to Site" from this page to be securely redirected to Global Prime's website.
  2. Register your details and verify your account with one of the documents listed above.
  3. You'll then need to verify who you are and fund your account before you can start trading.

Is Global Prime safe?

Yes, Global Prime is safe for Aussies to trade with. This is because it is regulated by the Australian Securities and Investment Commission (ASIC) as well as a few services overseas.

The broker also offers some protections for traders including leverage limits and negative balance protections. In Australia, ASIC has negative balance protections so this feature shouldn't matter as much to Australian traders.

However, the products that Global Prime themselves are risky. Trading CFDs and forex comes with a lot of risk. In fact, ASIC has said in the past that up to 80% of traders lose money. The stats do vary though depending on the research but it's agreed between 60% and 90% of traders lose when trading CFDs.

Compare Global Prime with other platforms

Disclaimer: General information only. All forms of investments (and in particular, trading CFDs, commodities and forex) carry significant risk, including the risk of losing more than the invested amounts, market volatility and liquidity risks. Past performance is no guarantee of future results. Such activities are not suitable for most investors.
Name Product Minimum Opening Deposit Minimum Spreads for Major Currencies Commission Minimum Trade Size Platforms
Pepperstone Forex Trading (Razor Account)
$0
0.0 pips
US$0.04 per 1k traded
0.01 lots
MetaTrader 4
MetaTrader 5
cTrader
TradingView
Pepperstone Trading Platform
Disclaimer: CFD Service. Your capital is at risk.
Choose from a range of fee-free funding methods, plus a suite of 10 different apps available as part of Pepperstone's Smarter Trading Tools.
Vantage Forex Trading
$50
0.0 pips - 1.0 pips
$0
0.01 lots
MetaTrader 4
MetaTrader 5
TradingView
Disclaimer: CFD Service. Your capital is at risk.
Spreads start from 0.0 on major currency pairs like AUD/USD, EUR/USD, GBP/USD and more. Plus you can places trades and find global trends through the TradingView charts platform. Trade with our RAW account with just $1 per lot each side
IG Forex Trading
$0
0.6 - 1.5 pips
$0
1 lots
MetaTrader 4
ProReal Time
IG Trading Platform and Apps
L2
Disclaimer: CFD Service. Your capital is at risk.
Choice of trading platforms. Choose optional extras like advanced charting, reporting and order types. Over 90 currency pairs to choose from.
IC Markets Forex Trading (Raw Spread account)
US$200
From 0.0-0.1 pips
AU$3.50 per 100k traded
0.01 lots
MetaTrader 4
MetaTrader 5
cTrader
Disclaimer: CFD Service. Your capital is at risk.
Trade forex with tight spreads as low as 0.0 pips and fast execution of under 40 milliseconds on average.
Saxo Forex Trading (Classic Account)
$0
0.5 pips
$0
$1000
SaxoTraderGO
SaxoTraderPRO
Disclaimer: CFD Service. Your capital is at risk.
Trade majors, minors, exortics, crypto and spot metals on Saxo's award-winning trading platfrom.
Blueberry Markets Forex Trading
US$100
From 0.0 pips
$0
0.01 lots
MetaTrader4, MetaTrader5
Disclaimer: CFD Service. Your capital is at risk.
Bottom of the market fees on forex, CFDs and commodities with 24/7 quality customer service.
ACY Securities Forex Trading
$50
0.0 pip
$0
0.01 Lot
MetaTrader 4
MetaTrader 5
Disclaimer: CFD Service. Your capital is at risk.
Trade over 2,200 instruments across CFDs on forex, shares, indices, commodities, precious metal, ETFs and crypto.
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This information is general in nature and is no substitute for professional advice. It does not take into account your personal situation. This information should not be interpreted as an endorsement of futures, stocks, ETFs, CFDs, options or any specific provider, service or offering. It should not be relied upon as investment advice or construed as providing recommendations of any kind. Futures, stocks, ETFs and options trading involves substantial risk of loss and therefore are not appropriate for most investors. You do not own or have any interest in the underlying asset. Capital is at risk, including the risk of losing more than the amount originally put in, market volatility and liquidity risks. Past performance is no guarantee of future results. Tax on profits may apply. Consider the Product Disclosure Statement and Target Market Determination for the product on the provider's website. Consider your own circumstances, including whether you can afford to take the high risk of losing your money and possess the relevant experience and knowledge. We recommend that you obtain independent advice from a suitably licensed financial advisor before making any trades.

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