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
- Digital currencies
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.
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
Customer reviews of Global Prime
|Google Play app reviews||4.1/5 stars based on over 340 reviews|
|Apple App Store app reviews||4.6/5 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
- 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
- Select "Go to Site" from this page to be securely redirected to Global Prime's website.
- Register your details and verify your account with one of the documents listed above.
- 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.
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.