Trade forex and CFD products with an ASIC-regulated trading platform that doesn't hold a B-Book.
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.
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.
| Type of broker | Online |
| Available markets | Forex, cryptocurrencies, indices, commodities, bonds |
| Minimum Spreads for Major Currencies | 0.05 |
| Commission | $0 |
| Minimum opening balance | $0 |
| Minimum Trade Size | 0.01 Lot |
| Leverage | 1:30 |
| Platforms | MetaTrader 4 |
| Support | Phone, email, and livechat |
| More Info |
Global Prime offers traders 150+ markets for forex, indices, commodities, digital currencies and bonds. It is licensed with the Australian Securities and Investments Commission (ASIC) and offers a range of features including demo accounts, no minimum account sizes, zero deposit fees and competitive spreads.
Global Prime lets you access the MetaTrader 4 platform, which offers a user-friendly trading interface and automated trading options.
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 its clients through ethical and transparent dealing models.
Institutional trading benefits
Global Prime offers a number of institutional trading benefits, including the following:
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 standard account, you'll get spreads from 0.9 Pips with $0 commission, while a raw account offers spreads of 0.0 Pips with a $3.50 commission.
Global Prime has a Trustpilot score of 4.4 out of 5, based on more than 120 reviews (last checked on 9 July 2024).
You'll be able to quickly reach a Global Prime representative in a few ways:
Global Prime 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.
Cameron Finder
Writer
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