Global Prime Review: Is this broker legit, safe and trustworthy for UAE citizens and residents?
Traders who are seeking for a new MT4 broker that offers a low-cost trading environment will find that Global Prime is appealing since it offers good trading circumstances as well as a number of trading tools.
Visit Global Prime Website.
Trading conditions offered by ASIC-regulated broker Global Prime include some of
the most competitive spreads in the industry, with spreads beginning at 0.10
pips on its commission-free account, low commissions on its ECN account, and no
minimum deposit requirements. In addition, Global Prime does not require any
minimum deposits. In an industry in which costs are paid on nearly every
transaction, Global Prime's low non-trading fees are a welcome development.
Global Prime also has competitive trading rates.
In addition to providing support for the MT4 and TraderEvolution trading platforms, Global Prime also provides a wide range of trading tools, such as the FIX API, TradingView, Zulutrade, Myfxbook Autotrade, and Virtual Private Server (VPS) services. Traders should be aware, however, that the vast majority of these tools may be purchased at an additional expense.
Although Global Prime offers outstanding teaching classes for novice traders,
the platform offers almost little market analysis. Traders will also be required
to pay a one-time price of 299 US Dollars in addition to a monthly membership
fee of 50 US Dollars in order to gain access to the educational resources.
Global Prime was established in 2010 and now has its headquarters in Australia. The company serves more than 10,000 traders located in 196 countries throughout the globe. The Australian Securities and Investments Commission (ASIC) of Australia, the Vanuatu Financial Services Commission (VFSC), and the Financial Services Authority (FSA) of Seychelles all continue to regulate it. See the list below for further information:
Global Prime Pty Ltd, ABN 74 146 086 017, carries an Australian Financial
Services Licence (AFSL) that allows it to engage in the provision of financial
services business in Australia. However, the scope of this license is restricted
to the financial services that are covered by its AFSL no. 385620.
Gleneagle Securities PTY Limited, doing business as Global Prime FX, is a
company that is registered in Vanuatu (with the company number 40256), and it is
controlled by the Vanuatu Financial Services Commission (VFSC).
Global Prime FX Ltd is a registered business in the Republic of the Seychelles
(with the company number 8426189-1), and it is in possession of a Securities
Dealers Licence (SD057) from the Financial Services Authority (FSA).
Trading in British pounds will be conducted through a subsidiary of Global Prime called Global Prime FX Ltd., which is supervised and licensed by the Financial Services Authority.
The Financial Services Authority (FSA), in contrast to top-tier regulators such
as the Financial Conduct Authority (FCA) and the Australian Securities and
Investments Commission (ASIC), does not require businesses to protect negative
balances, segregate client funds, or participate in investor schemes. However,
customer money are kept separate from Global Prime's operational capital in a
number of different financial institutions. Global Prime does not and will not
utilize customer funds for its operation or any other investment, which ensures
that customer monies are protected at all times. In addition to that, it offers
security against having a negative balance to every trader.
We believe that trading with Global Prime is rather risk-free given the
company's lengthy track record of ethical conduct as well as its compliance with
stringent international regulations.
The trading costs charged by Global Prime are lower than those charged by other
brokers in a comparable market.
Global Prime is not like other brokers that provide a variety of account types,
some of which have smaller spreads but require larger minimum deposits. Instead,
Global Prime provides just two market-execution accounts that require no deposit
at all. In the commission-free account, the trading expenses are incorporated in
the spread, but in the ECN Account, traders pay a tiny charge every transaction
in exchange for narrower spreads.
The pricing structure of Global Prime is completely open, and the company
publishes all of the spread and commission expenses that are linked with any
account type.
The accounts of Global Prime were analyzed to determine their prices in
comparison to those of other forex brokers. The expenses were determined based
on the trading fees associated with one lot of EUR/USD (100 000 USD), which
included the spreads and commissions.
Metatrader4 and TraderEvolution, two of the most popular trading platforms, both
provide both types of accounts.
The swap rate that is applied to positions that are held overnight is an
additional expense that must be taken into consideration. Each night that a
position is held, interest is either paid out (or received) by the company. When
it comes to foreign exchange instruments, the cost of the transaction is
determined not only by the positions that are taken (i.e. long or short), but
also by the rate differentials that exist between the two currencies that are
exchanged. The interbank spread and the cross-currency basis are the primary
factors that determine swap rates. The swap rates offered by Global Prime are
available on the company's website, organized by financial instrument. For the
purpose of determining exchange costs, the following calculation can be used:
The formula for calculating swaps is: pip value times swap rate (in points)
For instance, the swap charge for a long position in EUR/USD is -5.07 USD,
whereas the swap fee for a short position in EUR/USD is -0.394 USD.
In the context of the foreign exchange trading sector, Global Prime offers some
of the lowest overall trading expenses. Because the average cost of trading one
lot of EUR/USD is 9 USD at most other big brokers, any account you pick will be
less expensive than accounts offered by most other brokers. In addition, there
are no minimum deposit restrictions for opening an account with Global Prime;
however, the broker does recommend opening an account with at least $200 AUD (or
its equivalent), making it a viable alternative for both novice and experienced
traders.
The non-trading costs charged by Global Prime are significantly lower than those
charged by competing brokers.
The non-trading fees that brokers impose are among the trading charges that are
most frequently disregarded by investors. These fees have the potential to
severely impact your profitability and should, as a result, be thoroughly
investigated.
At Global Prime, there are no fees assessed for making deposits or withdrawals,
and the company does not assess penalties for inactivity on accounts that have
been left idle. However, dormant accounts will be canceled after a period of
three months of account inactivity has passed.
In general, this is a very positive trend for an industry that already levies
fees on the vast majority of transactions.
When opposed to other brokers, the procedure of creating an account with Global
Prime is all digital, which makes it both quick and hassle-free.
All British traders are welcome to create an account at Global Prime; however,
the application procedure is totally digital and consists of five steps that
must be completed in order to do so.
Creating an account is a simple procedure that may be completed entirely online.
Typically, new accounts can be used within 24 hours of their creation.
Both
joint and individual accounts are available, however for the sake of this guide,
we will focus on creating an individual account:
Instructions on how to register for an account with Global Prime:
New traders will be required to select their desired base currency and country
of residency after clicking the "Live Trading" button located at the very top of
the website. Once they have done so, they will be able to begin trading.
The next step for traders is to set up an account by providing their name, email
address, and a password of their choosing.
On the intake form for Global Prime, customers are required to provide personal
information about themselves, such as their date of birth and mobile phone
number.
The next step for potential traders involves inputting their physical addresses
and going over the account application information.
After that, merchants will be required to acknowledge that they have read the
Declaration and provide their approval to having their identify verified.
After this phase has been completed, traders will be requested to take a brief
survey as well as an FX Quiz, both of which will assist Global Prime evaluate
the traders' current financial situation as well as their trading skills. It is
a prudent move in an industry that is frequently accused of having a reckless
attitude to consumer protection, despite the fact that the vast majority of
brokers do not include this step in the process of creating an account.
To approve you as an individual customer, Global Prime requires a minimum of two
papers, which are as follows:
Your identification must consist of a coloured scanned copy of your passport in
either PDF or JPG format. Your passport must be valid (not expired). In the
event that you do not possess a passport that is in good standing, any other
form of identification containing your photograph, such as a credit card or a
driver's license, will suffice.
A bank statement or utility bill will suffice as proof of address. However,
please make sure that the papers you supply are no more than six months old and
that both your name and your physical address are displayed in a clear and
legible manner.
Before you begin trading, you should familiarize yourself with the risk
information, customer agreement, and terms of business presented by Global
Prime.
Traders will be able to log in and add funds to their accounts as soon as the
application has been accepted.
When compared to other brokers offering comparable services, the procedure of
creating an account with Global Prime is lightning-quick, typically stress-free,
and entirely digital. Furthermore, accounts are ready for trading within one
business day.
Global Prime provides two accounts, which is around the norm when compared to
other ECN brokers. These accounts are accessible to both inexperienced traders
and those with more extensive market knowledge.
Both novice traders and more seasoned investors can benefit from the two
straightforward ECN account types that are provided by Global Prime. Trading is
available on a wide variety of assets, such as foreign exchange, commodities,
indexes, bonds, cryptocurrencies, and stocks, among others.
Inexperienced traders who have never traded before or who have been trading for
a period of time that is significantly shorter than a year are considered to be
beginner traders. Beginner traders typically do not like to take unnecessary
financial risks by trading huge quantities of money, and they also typically are
unable to trade full-time during the workweek due to other obligations.
Beginner traders should often look for trading accounts that have lower required
initial deposits and that provide them the ability to trade in micro-lots.
Micro-lot trading is an option for those who have accounts with Global Prime,
despite the fact that the company does not need a minimum investment for those
accounts (although it does advocate making an initial deposit of 200 AUD).
In general, experienced traders have a preference for trading accounts that
require a greater minimum deposit and have tighter spreads. However, this
trade-off does not take place at Global Prime because the trading conditions for
both accounts are of a very high standard.
Trading infrastructure that is hosted within Equinix NY4 data centers, which
also cross-connect to all trading counterparties for the purpose of achieving
the lowest feasible latency. Global Prime is one of the quickest brokers in the
world for forex and metals trading, with average fill times of around 30
milliseconds (ms).
As a result of the legislation provided by ASIC, people from the United Kingdom
have access to a leverage of up to 100:1 on main Forex pairs. Both accounts
provide traders access to hedging, scalping, and algorithmic trading; however,
Islamic accounts are not available through Global Prime.
The commission-free account, as the name indicates, does not charge any
commissions and has spreads that start at 0.10 pips on the EUR/USD, which are
far narrower than those provided by other brokers. This account does not have a
minimum deposit requirement; nevertheless, owing to the margins that are
necessary when conducting leverage transactions, it is advised that a minimum
beginning balance of 200 AUD be maintained at all times. Traders who are just
starting out and do not want to spend a lot of time calculating the expenses of
commissions can consider opening this type of account. Additionally, micro-lot
trading is a possibility with this account.
The raw spread account for Global Prime is referred to as the ECN Account. When
compared to those offered by other brokers, the EUR/USD spread, which averages
0.28 pips, is among the tightest available. However, there is a commission fee
associated with each lot that is traded. The suggested minimum deposit, which is
also the case with the Commission-free Account, is 200 AUD.
On the ECN Account, the commissions that you are required to pay vary based on
the base currency that you would want to use for your account.
It is also important to emphasize how reasonable the commission rates are when
using AUD as the base currency. Due to the fact that the USD/AUD exchange rate
is now at 1.39 (as of November 2021), the commission cost per lot with a AUD
basis currency is the equivalent of 5.03 USD. This represents a significant
savings of around 2 USD per lot when compared to an account with a USD base
currency.
In addition, Global Prime provides its users with the option to open a demo
account, which comes pre-loaded with simulated cash and may be topped off upon
demand. Demo accounts do not become deactivated until there has been no activity
on the account for more than 30 days; in this case, the account will be stopped.
Demo accounts do not expire. They can, however, be revived at any step in the
process. Demo accounts provide traders with the chance to become familiar with
the MT4 and TraderEvolution platforms, in addition to providing an excellent
setting in which to practice trading in an atmosphere devoid of financial risk.
Global Prime allows for free deposits and withdrawals, in addition to providing
a broad variety of funding options.
Global Prime does not take payments from other sources since doing so would
violate regulations designed to combat money laundering. Traders are responsible
for ensuring that any deposits into their Global Prime trading account originate
from a bank account held in the same name as their trading account. In addition,
payments can be made from a shared bank account as long as the account holder is
one of the parties listed on the account.
Bank wire transfers, debit and credit card payments, and a variety of e-wallet
payment methods are all accepted forms of payment by Global Prime. These
e-wallet payment methods include Skrill, Neteller, fasapay, Paypal, Bitwallet,
Dragonpay, Bpay, and Poli, amongst others. There are no costs associated with
deposits or withdrawals, however traders should be aware that there are fees
associated with intermediaries. In addition, the majority of deposits are
reflected instantly, with the exception of bank wire transfers; nevertheless,
withdrawals are handled from one to ten days, which is much slower than the norm
for the industry.
Inside inside the Client Portal, you will see the option to make deposits. There
is a possibility that some of the deposits you make will take some time to show
up in your account. You may find out the current status of your deposits by
checking the Statement section of the Client Portal. Please refer to the Deposit
Methods table for further information and explanation.
In comparison to other foreign exchange brokers, Global Prime's variety of base
currencies is average at six, and the company also provides accounts denominated
in British pounds.
Global Prime provides its customers with access to a sufficient number of base
currencies, including AUD, USD, CAD, SGD, EUR, and GBP. This is beneficial for
British customers because they are more likely to have bank accounts denominated
in GBP. Because of this, British traders will be able to avoid having to pay
translation costs, provided that they do not engage in trading on instruments
that use other base currencies, such as the EUR/USD.
In this scenario, it is best for traders who trade in big volumes (more than 10
lots a month) to create an account with a digital currency bank that is
denominated in US dollars. This is due to the fact that when trading a USD
quoted currency pair with a GBP account, a tiny conversion charge will be
applied to each and every trade that is executed.
In comparison to other brokers, Global Prime provides clients with an option to
have their accounts denominated in British pounds and offers an average
selection of base currencies.
In comparison to the platform support offered by other brokers, Global Prime's
offering of assistance for MT4 and TraderEvolution is around par.
Global Prime provides support for MT4 and TraderEvolution, which are both
systems developed by third parties. Both are available on PC, but not on Mac,
and allow for a smooth trading experience by providing access to all of the
necessary trading tools and resources at all times. This makes it possible to
conduct research and analysis, enter and exit trades, and use automated trading
software developed by third parties.
Although it is not the most user-friendly piece of software, MT4 has been the
go-to platform for trading foreign exchange and contracts for difference (CFDs)
since 2005. Its user-friendly atmosphere and straightforward interface make it
possible to access all of the tools and information necessary for profitable
online trading. The MT4 includes the following features:
A built-in library that includes more than fifty different indicators and tools
to make the analysis process more efficient.
An remarkable variety of analytical tools, each of which may be accessed in nine
different periods and applied to a different financial instrument.
Price streaming in real time for both active accounts and demo accounts 128-bit
encryption for safe and secure business transactions
Automated trading, often known as algorithmic trading, is a method of trading
that enables any trading strategy to be formalized and carried out in the form
of an Expert Advisor.
Customisable notifications
Access to the MQL4 community as well as the MetaTrader market
Traders using the MT4 platform should be aware that the TradingView application
is not accessible to them; however, they do have access to the Myfxbook
Autotrade, Zulutrade, and VPS services.
The TraderEvolution platform targets professional traders who are interested in
more advanced features for order entry, analysis, and algorithmic trading. The
platform has only been available on the market for a short period of time.
TradingView is directly integrated into the platform, which enables
comprehensive technical analysis to be provided. TraderEvolution also includes
the following additional features:
14 completely customizable styles of charts
Multiple time frames
Access to a glimpse of the market's depth
Trading with a single click
Traders should be aware that while TradingView can be accessed through
TraderEvolution, the VPS and social trading platforms can only be accessed using
MT4, despite the fact that TradingView can be accessed through TraderEvolution.
Although the only platforms provided by Global Prime are MT4 and
TraderEvolution, which are not as user-friendly for novices as the proprietary
platforms provided by other brokers, MT4 is widely regarded as one of the most
effective third-party platforms in the financial services sector. In addition,
TraderEvolution provides extensive technical analysis thanks to its strong
capabilities and integration with TradingView.
When compared to other brokers offering comparable services, the mobile trading
platforms offered by Global Prime are around par. Mobile versions of MT4 and
TraderEvolution are available, but the company does not provide any of its own
mobile trading products.
Support is provided by Global Prime for the MT4 and TraderEvolution mobile
trading applications, which may be downloaded for free on Android and iOS
devices respectively.
Traders should be aware that there is a certain loss in functionality when
compared to the desktop trading platforms. This loss in functionality includes
reduced time frames and fewer charting options; however, traders are still able
to close and modify existing orders, calculate profit and loss, and trade on the
charts.
In comparison to other brokers offering a comparable service, the breadth of
trading tools provided by Global Prime is around par.
TradingView, gratis VPS services, Myfxbook Autotrade, Zulutrade, FIX API, and a
PIP Profit calculator are some of the trading tools that are included in the
suite of products offered by Global Prime.
TradingView, which is offered by Global Prime, is directly integrated with the
MT4 trading platform. Traders that register for a live account with
TraderEvolution are not required to pay a fee in order to use TradingView. It is
a very useful instrument for investigating, charting, and screening any kind of
equipment. TradingView, a product offered by Global Prime, also includes the
following additional features:
Over one hundred thousand individualized, user-built indicators and scripts
Layout that is synchronized across many charts
VPS
Free Virtual Private Server space is provided by Global Prime to traders on MT4
who conduct more than 20 lots of business each month. ForexVPS and Beeks are the
two independent companies that are responsible for providing this service to
customers. VPS services guarantee that transactions are never disturbed by
technological or connection difficulties, such as load-shedding or a disruption
in internet access. This is beneficial for algorithmic traders who need to be
connected to a server around the clock in order to maximize their uptime.
Additional advantages of using the VPS service include the following:
24/6 VPS email support
24/7 Power redundancy for your virtual private server
24/7 Internet connectivity redundancy for your virtual private server
Connectivity with FP Markets' trading servers that has a low latency for
precision trading
uninterrupted trading on the EA
Customers who trade less than the minimum volume necessary will have the lower
VPS rate automatically applied to the monthly fee that is charged to their MT4
account. The virtual private server (VPS) will be terminated if there is
insufficient available balance in the customer's account to cover the cost of
the VPS.
One of the most well-known copy trading programs available currently is called
Myfxbook Autotrade. Through the use of this service, you will be able to import
the trades made by any system that you want right into your Global Prime
MetaTrader 4 account. Traders will be required to get in touch with MyFXbook
Autotrade in order to obtain information on the fees that are involved with
utilizing the service.
The functionality of the Myfxbook Autotrade copy trading platform is one of the
reasons why users find it beneficial to use the platform. It provides a variety
of different copy trading modes, and there is no restriction on the number of
Strategy Providers that may be adhered to.
Copy trading, in general, may be beneficial for traders who have an interest in
the financial markets but do not have sufficient experience or expertise in the
field.
A social trading application known as peer-to-peer trading is provided by the
third-party platform known as Zulutrade. Traders may pick from thousands of
other registered traders from 192 different countries. The "ZuluRank" algorithm
assigns a ranking to each trader based on a variety of different parameters,
including the trader's overall performance, stability, maturity, exposure, and
the needed minimum amount of equity.
Linking through ZuluTrade is possible provided that the following requirements
are met:
The monthly subscription price for ZuluTrade is now set at 30 USD, and the
platform takes a 25 percent cut of all monthly gains.
Zulutrade, much like Myxfbook Autotrade, is an outstanding choice for investors
who wish to trade on the markets but do not have sufficient expertise or
education to do it successfully.
The Global Prime FIX API solution is tailored specifically for professional
traders who are interested in deploying their own customized algorithmic trading
solution with the least amount of delay feasible.
The Financial Information Exchange, or FIX, protocol enables real-time
communication between clients, traders, investment funds or brokers, and
liquidity providers. This communication can take place in the financial markets.
The application programming interface (API) provides clients with full control
over the data that is delivered and received, eliminating the need for any
intermediate software.
Traders will be required to have a minimum balance of 25,000 USD in their
accounts in order to make advantage of these services. In addition to this,
traders will be required to pay a monthly commission fee of 2,000 USD. Although
the commission rate can be negotiated, the minimum commission rate will remain
the same.
A Forex Profit Calculator is a tool that can be used to help you figure out how
much money and pips would be earned, or lost, in a trading position. You may use
this tool to assist you decide whether or not to enter the position. You will
need to input values into the calculator for the trade in order to obtain this
information. The calculator will then simulate what would occur if you closed
your position with a profit or loss.
In general, Global Prime provides its clients with access to a wide variety of
trading tools; however, TradingView can only be accessed through
TraderEvolution, and both the VPS and copy/social trading platforms can only be
accessed through MT4.
In comparison to other prominent international brokers, Global Prime has a more restricted selection of tradable assets; nonetheless, the quality of its forex offering is above average.
Forex: Global Prime offers around 49 currency pairs available for trading, which
is considered to be an average range when compared to other CFD providers. These
currency pairings include majors (EUR/USD, GBP/USD, and USD/JPY), minors
(NZD/CAD, EUR/JPY, and USD/ZAR), and exotics.
Share CFDs Global Prime's offering of 101 share CFDs on the NYSE and NASDAQ is
quite restricted in comparison to the offerings of other brokers in the same
industry. Only the TraderEvolution platform provides the ability to trade CFDs
on shares of stock.
There are just 20 different indices that are accessible for trading at Global
Prime, which is a much lower number compared to other brokerages. The most
widely used indexes are those that include the stock prices of a variety of the
world's most successful and well-known corporations.
Commodities: Trading is available on 23 different commodities with Global Prime,
which is around the same number that other brokers provide. Metals such as gold
and silver, forms of energy such as natural gas and oil, and agricultural
products such as cotton and wheat are all examples of commodities.
Cryptocurrencies: Bitcoin, Bitcoin Cash, Ethereum, Litecoin, and Ripple are the
only cryptocurrencies that may be traded using the Global Prime platform. This
is a significantly smaller selection of cryptocurrencies than what is offered by
other brokers.
Bonds: Trading is available on seven different bonds through Global Prime. You
now have the power to trade the most liquid, popular, and biggest government
bonds in the world, including those issued in the United States of America, the
United Kingdom of Great Britain, Europe, and Japan.
Although Global Prime only provides a limited selection of tradable instruments
on MT4, the company does provide a more extensive selection of bonds than is
normally offered by other brokers.
Although the instructional resources provided by Global Prime are superior to
those provided by other brokers, in order for traders to have access to these
materials, Global Prime requires a charge to be paid by the traders.
Trading Academy is one of the services provided by Global Prime and may be
obtained for a one-time cost of 299 USD. With payment of this amount, traders
will have access to the course for a period of one month, including all of its
more than 30 lessons. After that, a cost of fifty dollars per month will be
applied. Ivan Delgado, who has been involved in trading the markets for more
than a decade and who participates as the resident Market Insights Analyst at
Global Prime, is the man in charge of facilitating the Trading Academy.
The following subject areas are covered in the Trading Academy course:
Trading Psychology
Trading models
Decision-making
picking out markets to include on our watchlists.
Risk Management
Access that is not shared to the trade setups channel.
Feedback and configurations through the use of interactive movies.
All of Ivan's favorite patterns that serve as entry or exit points for trading.
In addition, Global Prime has a well-established channel on YouTube with more
than 300 videos. The content consists of informative shorter-form videos as well
as podcast videos containing interviews with the company's founders and senior
team.
In general, the instructional resources provided by Global Prime are exhaustive
and in-depth, and they are designed to meet the needs of traders with varying
degrees of expertise. The fact that the resources may be obtained, but at an
additional expense to the dealer is one of the disadvantages.
When compared to those offered by other prominent international brokers, the
market analysis resources provided by Global Prime are lacking.
When compared to what is offered by other prominent international brokers, the
market research materials provided by Global Prime are more restricted;
nonetheless, the company does make the services of TradingView available to all
customers who sign up for an account. TradingView is a tool developed by an
independent firm that is advised to novice traders who are interested in
learning about technical analysis as well as experienced traders who are looking
for an objective perspective on their trades.
Global Prime does not offer its clients a market analysis blog like those
offered by most other brokers, which is regularly updated and covers all of the
most recent market moves.
The market analysis area of Global Prime has a breadth that is, overall,
somewhat narrow. It is possible for them to enhance their market study materials
by giving content that is not only comprehensive but also routinely updated and
in several formats.
Live chat, email, and telephone assistance are all accessible around the clock
and seven days a week from the customer service team at Global Prime. If you
choose to contact them by telephone, however, you will be required to dial an
Australian number and will be charged for the call.
As a result of Global Prime's location in Australia, the company's customer
support department is available from Sunday at 22:00 (GMT) to Friday at the same
time.
We found the customer support representatives to be kind, competent, and quick
to respond to our inquiries (they addressed them right away).
When it comes to evaluating the partners, we place a high priority on being open
and transparent. We have released our evaluation methodology, which includes a
full description of how we evaluate the product offering provided by Global
Prime, in order to bring transparency to the forefront of the discussion. The
assessment of the dependability of the broker, the trading platform that is made
available by the broker, and the trading conditions that are made available to
customers are all summarized in this review and constitute the core of that
procedure. The performance of each of these factors is evaluated, and then an
overall score is tallied and given to the broker.
Forex trading is fraught with peril, and every broker is obligated to inform its
clients of the dangers inherent in the trading of forex-related contracts for
difference (CFDs). It is important to Global Prime that you are aware of:
Trading derivatives are high risk. Your losses might end up being more than your
initial investment. When trading, you should never use more money than you can
afford to lose. The information and recommendations provided on this page are of
a general nature and have been compiled without taking into consideration your
specific goals, financial circumstances, or requirements. The results of the
past use of any product that is detailed on this page are not a reliable
indicator of the product's future results.
Before you make any decisions
regarding trading, you should first review our Target Market Determination to
see if you fall within our target market. You should also read our Product
Disclosure Statement (PDS) and any other relevant legal documents to ensure that
you have a complete understanding of the associated risks. If you feel that you
need it, you should seek the advice of a third party.
Global Prime, which operates as an ECN broker, is a reliable and well-regulated
financial services provider. It does not charge any commissions, inactivity
fees, withdrawal fees, or deposit fees, and it provides real accounts with
variable spreads that are competitively priced.
In addition to a comprehensive set of trading tools, the trading platforms
offered by Global Prime include MT4 and TraderEvolution. Both of these systems
provide sophisticated automated trading features. Although Global Prime's
training resources are superior to those supplied by other brokers in a
comparable industry, the platform does not provide any market research and only
allows trading on a small number of tradable assets.
Global Prime is an online trading broker that offers individualized liquidity
solutions to retail and institutional traders that are searching for trading
solutions that are transparent, flexible, and cost-effective. They guarantee
that they can provide the most competitive costs by utilizing an electronic
communication network (ECN) non-dealing desk (NDD) brokerage methodology. The
more experienced traders can take use of the FIX API access offered by the
brokers' platforms, which include the user-friendly MetaTrader 4 platform as
well as the sophisticated Trader Evolution platform.
Global Prime is an online broker based in Australia that provides clients all
over the world with access to more than 40 different trading instruments across
multiple markets. These trading instruments include forex, commodities,
cryptocurrency, stocks, shares, indices, metals, energies, NDFs, and CFDs.
Global Prime was established in 2010 by traders who had a strong interest in
online trading. The company currently has clients in over 120 countries and a
monthly trading volume of over 30 billion dollars on average. They have three
main brokers located in three different continents each.
Retail and institutional traders are able to receive customized liquidity from
Global Prime, which is sourced from tier 1 and regional banks, non-banks, and
ECN liquidity providers such as Fastmatch, LMAX, Currenex, Gain GTX, and
Hotspot. Global Prime possesses the cutting-edge technology necessary to
accomplish this. Because of this, spreads may be kept narrow, and both execution
speeds and market depth can be improved.
In addition to a large pool of liquid assets, they make use of an electronic
communication network (ECN) that does not have a dealing desk. This helps to
guarantee that there is no manipulation of the execution, that there is no
conflict of interest, and that customers get precisely what they are looking
for. Within PrimeXM's institutional quality global infrastructure based in New
York's NY4 data center, customers may take advantage of individualized options
for co-location, low latency hosting, and connection solutions.
They say priced because trades under 0.5 lots in FX are internally housed until
they reach 1 lot to reduce the small ticket fees. Global Prime will show any
trader, for any trade, which liquidity provider priced their trade. This feature
will soon be included in the client portal along with a tick graph.
A minimum deposit of $200 is required to open an account with Global Prime, and
spreads begin at 0 pip levels. There is a maximum leverage of 1:200 available,
and there are no costs associated with either funding or withdrawals. They
provide traders with the widely used MetaTrader 4 (MT4) trading platform in
addition to a FIX API for direct market access (DMA).
The care and attention given to each and every customer is of the utmost
importance, regardless of the amount of money they have invested. When
responding to queries from customers, customer service is always timely,
efficient, and polite.
The Australian Securities and Investment Commission has granted Global Prime the
necessary licenses and regulates the company (ASIC). They are also in possession
of an Australian Financial Services Licence (AFSL), which allows them to conduct
business in the field of financial services in Australia.
The Australian Securities and Investments Commission (ASIC) is an independent
government entity that was established for the purpose of enforcing and
regulating laws pertaining to companies and financial services in order to
safeguard Australian consumers, investors, and creditors.
To be eligible for an AFSL, a company needs to provide proof that it is
qualified to carry out the operations of the business, that it has adequate
financial resources, and that it complies with the standards that have been
established at the national level for training, insurance, and the resolution of
disputes.
Global Prime FX is a trade name used by Gleneagle Securities PTY Limited, which
is a company that is incorporated in Vanuatu and is subject to regulation by the
Vanuatu Financial Services Commission (VFSC).
Global Prime FX Ltd is a Seychelles firm that has been given a Securities
Dealers License by the Financial Services Authority of Seychelles. This license
allows the company to trade in securities (FSA).
These laws and licenses assist to reassure customers that the broker they are
working with is reputable and is required to operate in accordance with
stringent guidelines established by government agencies.
Client money are stored in segregated client trust accounts with Westpac, which
ensures that they are kept apart from the funds of the firms and are not
utilized for any other reasons, including hedging or operational costs. One of
the most important financial institutions in Australia, Westpac is also the
country's oldest bank. ASIC Client Money Reporting Rules need to be followed in
order for Global Prime to comply with them.
Customers from North Korea, Iran, the United States of America, and Ontario are
unable to be served by Global Prime at this time (Canada).
MetaTrader 4, often known as MT4, is a trading platform that is provided by
Global Prime and is accessible via desktop (Windows and Mac), online, and mobile
(iPhone, iPad, Android, and Tablet) devices. Additionally, they provide FIX API
trading systems for institutional clients.
MT4, which stands for "MetaTrader 4", is one of the most widely used trading
platforms in the entire globe. It is adaptable to traders of all experience
levels. It has sufficient sophisticated features for more skilled traders while
also being user pleasant enough for beginning traders.
In the market monitor window of MT4, you may see up-to-the-minute price
quotations for various trading instruments. There is support for a variety of
order types, including market orders and pending orders, among others. You have
the ability to trade straight from charts spanning nine distinct time frames.
Trailing stops, take gains, and stop losses are some of the order management
tools available. It may be modified in any way imaginable to accommodate a wide
variety of user requirements.
MT4 comes with a wide variety of built-in analysis tools, such as more than 30
different types of technical indicators and over 23 different types of
analytical objects for chart analysis. Users have the ability to design their
own customized indicators and automated trading strategies using the built-in
MetaEditor, which is compatible with the MQ4 programming language. The MT4
marketplace also offers downloadable free of charge as well as paid for custom
tools that can be purchased there.
MT4 allows for automated trading with the use of expert advisors (EAs). Using
the development environment, manual trading methods may be designed to execute
automatically. This saves a lot of time. These automated trading systems may be
put through their paces by a strategy tester, which tests and optimizes their
performance.
MT4 has the capability to deliver notifications regarding the most recent market
news or movements based on the parameters that you have pre-set. Alerts can be
delivered to you via a pop-up alarm, email, or text message, and they can assist
you in preparing for certain tasks.
With the MT4 mobile trading platform, you may engage in financial transactions
whenever and wherever you happen to have access to the internet. You are able to
access your account in order to open, modify, or close positions, as well as do
market analysis. The functionality of the desktop platform is carried across,
including the ability to receive push alerts. MT4 mobile is downloadable for
Android and iOS devices via the app stores for those respective operating
systems.
Global Prime gives its institutional clients access to unique institutional
trading platforms, allowing for superior and cost-effective trading in an
environment that is both safe and regulated. Deep liquidity is made available to
institutional clients through the use of a big top of book and a variety of
liquidity providers.
Trader Evolution is a multi-asset platform that has the potential to expand the
product selection offered by brokers. It possesses a sophisticated front end and
an interface that can be fully customized for trading different assets. There is
a wide variety of functionality available, such as professional trading tools
and comprehensive charting for doing market analysis.
Live depth of market (L2) is available for all products on Trader Evolution,
along with numerous trading panels that allow users to observe and trade
liquidity provider depth. EvoCode allows for the development of various
strategies. It is now accessible through a PC platform, and an application for
mobile devices will be made available very soon.
Skout is a proprietary FIX API engine that was developed by Global Prime. It
gives institutional clients the ability to act as market makers and market
takers, allowing them to offer and receive prices respectively. In addition to
having minimal latency, it offers competitive fees and external liquidity that
is derived from NY4 via cross-connects.
PrimeXM is an aggregation service that offers MT4 bridging and server-side
plugins for its clients' trading convenience. An interface that is FIX
compatible is utilized for trading purposes. It helps to provide low latency
connectivity as well as hosting solutions of an institutional standard that have
increased degrees of security.
The user interface of FlexTrade is highly developed and packed with features,
making it possible to trade various assets on both the buy and sell side.
Global Prime provides its users with a variety of valuable trading tools that
cater to the specific requirements of individual traders and can be used into a
variety of trading strategies.
MyFxBook AutoTrade is available to clients of Global Prime, who may link their
accounts to the service. Traders may subscribe to the signals of other traders
and duplicate those signals directly into their own trading accounts using this
automated social trading tool. Because it is hosted on servers that are
controlled in-house, AutoTrade does not require the installation of any extra
software.
When comparing track records, you have the ability to see and filter the
historical outcomes of different systems. At any moment, you can subscribe to a
system or remove yourself from its subscriber list. Traders may also provide
their own trading methods for signal copying; however, in order to do so, they
will need to pass a stringent screening procedure, which requires them to have
an extensive trading history that spans a considerable amount of time. It is
important to emphasize that a company's historical success is in no way
indicative of its future results.
Users are able to run a trading platform without having to have their own
computers turned on while using a virtual private server (VPS). It is common
practice to employ them in order to operate expert advisors (EAs) and to keep
communication with a trading server. Beeks Financial Cloud, ForexVPS.NET, and
New York City Server VPS are among the companies that Global Prime has worked
with. Every service provides all Global Prime customers with a discount, and
those customers who trade at least 20 lots each month are eligible to apply for
free VPS hosting.
Trading calculations may be made easier with the assistance of Global Prime's
trading calculator. It is able to show you the required amount of margin for
each position before you place it, as well as the price changes that determine
whether or not your position will result in a profit or loss.
The most recent news releases are displayed on the economic calendar that
TradingView provides, along with the nations that are affected. The actual
results, together with the prediction and the previous outcomes, are shown.
ZuluTrade is a copy trading platform, which means that users may share trading
signals with one another and duplicate the signals of other traders. Through the
utilization of the profit share concept, Global Prime is linked to Zulu Trade.
Tutorials, guidelines, and industry insights are just some of the numerous types
of educational content that can be found on the Global Prime website.
There is a collection of instructional video that can assist with the
improvement of one's knowledge and abilities related to trading. Analysis on
both the fundamental and technical levels, as well as various trading tools, are
among the topics discussed.
In addition to the trading films, there is also a range of instructional manuals
available with the purpose of assisting traders in expanding their knowledge and
enhancing their abilities. There is a wide variety of material presented that is
appropriate for traders of all experience levels.
This portion of the Global Prime website has articles that are often updated and
address many types of market analysis in considerable detail. Topics range from
valuations and bias to fundamental and technical analysis of the market.
You may sign up for a newsletter that will deliver to your mailbox instructional
guides, daily market insights, and analysis directly. If you do so, you will
receive these items directly. Keeping up with what is happening in the markets
using this method might be a helpful way to stay informed.
The Global Prime Discord chatroom is another tool that is offered on this
trading broker. Traders may use this room to discuss the activities they engage
in on a regular basis. You are able to discuss your trading ideas and analyses
while receiving individual responses to any queries you may have from the
specialists on staff at the broker. Over two thousand five hundred users are
already registered with the chat room, and thousands of new users sign up every
single month. This is a one-of-a-kind function that is not available on many
other trading brokers' platforms. The Discord chatroom now has both paid and
free Mentor rooms, which are staffed by other merchants.
Global Prime provides tradable instruments on a wide variety of markets,
including foreign exchange (Forex), cryptocurrencies, indices, commodities,
metals, and energy.
The foreign exchange market, sometimes known as the Forex market, is an
over-the-counter market that operates on a worldwide scale yet is decentralized.
In terms of the volume of trades conducted, it is the most important market.
Buying one currency, also known as the "base currency," and selling it for
another currency pair, often known as the "counter currency," is what's involved
in forex trading. Traders attempt to forecast whether one currency will
appreciate or depreciate in relation to another.
More than fifty and more major, minor, and exotic currency pairings are
available to trade with Global Prime.
CFDs may be traded on a variety of markets through Global Prime, including
indices, metals, and energies. CFDs, also known as contracts for difference, are
a type of derivative that enable investors to trade underlying assets without
having to actually acquire those assets. Traders instead make predictions about
whether the price of an asset will go up or decrease in the future.
Through MT4 and the FIX API, clients of Global Prime are given the opportunity
to engage in short or long trades on index and commodity CFDs. Customers have
access to key share indices, such as the S&P 500, the ASX200, and the Nasdaq
100. Gold and silver, in addition to crude oil, are tradable commodities that
may also be exchanged (WTI, Brent).
A decentralized online digital money that is built on complicated mathematical
algorithms is called cryptocurrency. Traders are able to bet on whether the
value of a cryptocurrency will grow or fall without having to actually possess
the digital asset themselves.
Trading of cryptocurrencies based on Bitcoin, Bitcoin Cash, Ethereum, Litecoin,
and Ripple is available through Global Prime.
While the majority of brokers provide clients with a selection of several
trading accounts from which to pick, Global Prime keeps things straightforward
by providing only one trading account for all of their customers.
The account may be opened with a minimum deposit of $200, and the leverage can
range from 1:100 to 1:200, depending on the results of a questionnaire that must
be completed before opening the account. Commission is charged at a rate of $3.5
per standard lot or $7 every 100k round turn. The smallest amount of lots that
may be used for a position is 0.01.
Before registering a genuine account, you can experiment with the demo accounts
that are accessible.
Support is available via online chat, telephone, and email around the clock and
seven days a week from Global Prime. They are quick to react and pleasant while
answering a variety of queries, both general and technical.
In addition, you may get in touch with them through the social media platforms
Facebook and Twitter, both of which they employ to keep followers up to speed on
market happenings and economic releases.
In the event that you want anything more immediate, Global Prime provides a
number of different options for depositing and withdrawing money, including bank
wire, credit card, PayPal, Skrill, and Neteller. There are also a great many
ways to raise money on the local level. They do not charge any fees for deposits
or withdrawals; however, a fee may be assessed for any foreign bank transactions
that are processed. All deposits must originate from an account that bears the
same name as the player.
While certain payment options, such card payments, can be processed immediately,
clearing times for bank transfers might take several business days. AUD, USD,
EUR, GBP, SGD, and CAD are the currencies that may be used to establish an
account. When you use an account denominated in your native currency, you won't
be subject to any costs associated with currency conversions. This is one
advantage offered by the various currency alternatives.
You will first need to validate your email address after filling out a brief
form in order to register a trading account with Global Prime. After that, you
will be required to provide proof of your identity and residence by presenting
papers such as a passport and a bill from a utility company. After your identity
has been confirmed, you will be able to make deposits into your account and
start trading as soon as possible.
Which currency pairings are the most actively traded on the Forex? Pairing
often involves the foreign exchange that is best known and most actively traded
on the market. These currency pairings include USDCHF, USDCAD, USDJPY, AUDUSD,
GBPUSD, NZDUSD, EURJPY, EURUSD, and EURGBP. There is no specific order to the
currencies listed here.
Are stock trades possible on the Global Prime platform? One of the most widely
traded assets on the market today is stock. On Global Prime, trading stocks is
not currently an option due to unforeseen technical difficulties. Despite this,
they intend to expand into this area at some point in the not-too-distant future
so that they may offer their customers additional choices.
I would like to share my account with a business partner or another person; is
this possible?
You are strongly encouraged by Global Prime to keep your account information
private. You should only register it under your own name. Do not reveal your
password to anybody else under any circumstances.
When I sign up for an account with Global Prime, what kinds of documentation
would they want from me? There will only be a request for two papers from Global
Prime. They will ask for evidence that can verify your identification. This can
be a valid government-issued identification card that includes your entire name,
a photograph, and your birth date. In addition to that, they will ask for
evidence of your address. This should contain both your full name and address in
its entirety.
Describe the Equinix Financial Trading Hub in as much detail as you can. The
most significant transactions in the world's financial system take place here.
Equinix Financial Trading Hub may be utilized by even the trading servers
utilized by high-frequency traders. Because of this, you can rest assured that
they will always give prompt and dependable service.
How quickly does this platform operate? The 1 millisecond latency of Global
Prime is a point of pride for the company. There won't be any issues with bots
or the system being slow. They do not share their servers with other platforms
in order to prevent congestion of the available bandwidth. They will make use of
optical fibers to establish a direct connection between you and a network of
exchanges that are connected to The Equinix Financial Trading Hub.
The headquarters of the online FX and CFD brokerage company known as Global
Prime are located in Sydney, Australia. It is registered in Australia under the
name Global Prime Pty Ltd, and it holds an Australian Financial Services License
issued by the Australian Securities and Investments Commission (ASIC), both of
which strongly contribute to giving this broker a generally credible reputation
in the industry as a whole.
The broker currently now runs two offshore operations, the first of which opened
in 2019 and is located in the Republic of Vanuatu (under VFSC supervision) and
the second of which is located in the Seychelles (SFSA regulation).
When it comes to the assets that can be traded, Global Prime provides its
customers with access to a diverse selection of trading instruments. These
include contracts for difference (CFDs) that are based on equity indices,
commodities, cryptocurrencies, and shares that are traded on the NASDAQ and the
New York Stock Exchange, as well as a large variety of popular forex pairs. In
the foreign exchange market, you can choose from a total of 42 different
currency pairings, including the most common major, minor, and exotic
currencies.
Spreads are changeable with Global Prime since they are a pure ECN (electronic
communications network) broker, and as is customary, spreads become narrower as
the amount of trading activity and liquidity in the markets increases. Spreads
offered by Global Prime are significantly lower than those offered by most other
brokers, beginning at 0.0 pips on the most liquid foreign exchange pairings.
In addition, the trading commissions that the broker charges vary based on the
user's account currency as well as whether or not they are trading micro lots or
normal lots. The normal lot commission is USD 7 for 1 lot round turn, but the
micro lot charge is USD 0.07 per 1 lot round turn for accounts denominated in US
dollars.
The level of leverage that a trader has access to is, similarly to the case with
all forex brokers that are registered in different areas, contingent on which
regulated organization the trader has signed up with. According to the most
recent set of guidelines issued by ASIC, the maximum leverage that traders can
use when trading through the Australia-regulated branch of Global Prime is 1:30.
Traders who are registered with the Seychelles or Vanuatu-based branches, on the
other hand, may take advantage of a leverage that is far larger than what is
offered by this broker, which is now capped at a ratio of 1:100.
Global Prime has placed a greater focus on courting long-term clients who
include financial institutions, hedge funds, and family offices. The company
makes it clear that these categories of customers will be provided tailored
solutions that are not available to the ordinary retail trader. This also offers
specialized trading accounts for institutions, such as banks and hedge funds,
which have the potential to obtain narrower spreads and cheaper commissions than
those that are typically displayed on the website.
The traditional MetaTrader 4 (MT4) platform is provided by Global Prime to the
majority of new traders as the company's primary trading platform. This platform
is available in versions that are built for Windows, Mac, Android, and Apple iOS
devices.
The broker has stated that in addition to MT4, it intends to allow trading
straight via the TradingView platform, just as a great deal of other brokers
presently do. In addition, customers that are classified as active traders,
professional traders, or institutions have access to a different trading
platform called as the TraderEvolution platform. This platform is designed
specifically for their needs. This trading platform is more complex than the
conventional MT4, with charts that can be fully customized and a broad range of
advanced trading tools. TraderEvolution, much like MT4, offers support for
algorithmic trading, which encompasses both the scripting and backtesting of
individualized trading methods.
In addition to a demo account that may be used for training reasons, Global
Prime provides its customers with a single real trading account that includes
all of the regular features. Simply following these two simple steps is all that
is required to set up a new account: Upon presenting a proof of identification
as well as a proof of residential address, the customer will then be able to
engage in trade.
The following currencies can be used for deposits and withdrawals: AUD, USD,
GBP, EUR, SGD, and CAD. Bank wire transfers and the majority of other funding
methods do not incur any costs, and the broker does not charge any fees for
making deposits. In terms of the processing periods, deposits made using credit
or debit cards will be processed immediately, while deposits made using
international bank transfers may take anywhere from one to five business days to
be processed.
Global Prime is committed to delivering exceptional customer support to all of
its customers by maintaining business hours of 24 hours a day, seven days a
week. Customers may get in touch with them at any time by sending an e-mail,
calling them, or using the live chat feature on their website, which provides
nearly rapid responses. In addition, customers may use the online messaging
feature to submit support requests for trading and technical concerns. This
function serves as an alternative to sending an email.
In addition to the aforementioned methods, it is also possible to contact the
broker through the social media sites Facebook and Twitter. The broker uses
these channels to keep followers up to speed on significant market-moving events
and the publication of economic data.
An overview of the company reveals that Global Prime is an online Forex
brokerage firm that operates out of Australia and has its main office in Sydney
in addition to support offices placed all over the world. Global Prime is
authorized to provide financial services in Australia thanks to the Australian
Financial Services License (ASIC), as well as licenses issued by the Vanuatu
Financial Services Commission (VFSC) and the Seychelles Financial Services
Authority (FSA). The broker has built a solid reputation in the foreign exchange
market because to the exceptional customer care and assistance they provide and
the close ties they maintain with its customers. Since that year (2010), Global
Prime has been in business.
Accounts: A standard ECN account is provided free of charge to each and every
customer. Global Prime boasts of having extremely low spreads (0.0 pips), and
transactions are executed quickly and precisely. They also reveal which
liquidity provider fulfilled your order, a feature that is unheard of in retail
foreign exchange markets. They are able to maintain low spreads because to the
presence of three prime brokers and more than twenty tier-one financial
institutions in their network.
Traders also have the option of trading index
funds and commodities CFDs in addition to traditional financial instruments. In
addition, Global Prime provides institutional clients with the opportunity to
open ECN accounts, which come with a number of additional benefits, including
personal customer support, access to extensive institutional liquidity,
individualized trading choices, and reduced trading fees.
The maximum leverage available is 1:100, and it may go up to 1:200.
Among its many features, MetaTrader 4 (MT4) for iPhone, Android, Mac, and
Windows is one of Global Prime's supported platforms. When you trade more than a
specific number of lots in a given month, they will provide you with free or
reduced VPS hosting so that your orders may be executed more quickly. MAM and
PAMM are widely available to money managers that utilize MT4, respectively.
Additionally supported are auto traders from Myfxbook and ZuluTrade. In addition
to this, they provide bespoke streams for high net volume traders. These streams
feature a choice of liquidity provider, as well as a customized flow, volume,
and liquidity. The skilled foreign exchange trader will find help from Global
Prime, which offers trading in 48 different currency pairings. In addition to
this, traders have access to 20 distinct commodities and 14 indices.
Education: They do not provide a great deal of forex education because they
cater more toward seasoned forex traders rather than newcomers to the market.
Their website includes trading guidelines and videos, as well as a daily edge
news source, in the portion of the site titled "Insights." Traders also have the
option to subscribe to Global Prime's free market daily wrap, which will be
delivered to their email inbox.
Deposits and Withdrawals: Both depositing and withdrawing funds from the
customer site is a simple process. Credit and debit cards, Neteller, and bank
wire transfers are the most prevalent deposit options. Skrill, Dragonpay,
ZOTAPAY, fasapay, payR, BPAY, and POLI are some of the other deposit options
that are available. Deposits made through credit cards, debit cards, and
e-wallets such as Neteller are often completed within a few hours after being
made. During business hours, the processing time for withdrawals can take up to
24 hours, while sending funds through bank wire can take between three and five
working days. There are no fees charged for deposits or withdrawals while using
Global Prime.
Live chat is available for use around the clock, seven days a week to provide
customer assistance. In addition, they provide email help and a direct phone
line for traders to use.
Global Prime, also known as Global Prime Pty Ltd., is a prominent foreign
exchange broker that operates out of Australia and focuses on providing prime of
prime deal execution and spreads. Global Prime provides high-quality services at
reasonable prices and has exceptional customer service.
Global Prime Licenses: Global Prime Pty Ltd is permitted by the Australian
Securities and Investments Commission (ASIC), and its registration number is 74
146 086 017 AFSL.
Global Prime is a broker based in Australia that has constructed its product in
such a way that you will not require the services of any other company for
anything else. The business provides a regulated trading environment with an
advanced execution model that is based on STP connection. This would deliver
strong platforms and the ability to clone trades, as well as narrow spreads.
Global Prime has been in business since 2010, and during that time it has served
customers from over 120 countries. It employs 20 liquidity sources to assure
that it is providing the best prices possible, and it trades enormous volumes
over many continents.
There is Direct Market Access (DMA), a low commission fee, an advanced selection
of instruments, MAM and PAMM accounts, auto trading, and solid research offered
by Global Prime, which makes it a trustworthy broker with a complete trading
proposition appropriate for active traders or professionals.
Negative aspects include the fact that the idea might not be appropriate for new
traders, that the deposit requirement is large, and that there is no education.
Global Prime is a low-risk trading environment that has been authorized by a
top-tier ASIC and holds an AFSL license.
Brokerage services are provided by Global Prime, which is appropriately
regulated. This is important in order to ensure the integrity of the market and
to present a customised trading capacity inside a trading environment that is
secure.
Therefore, selecting Global Prime as your broker will provide you the peace of
mind that comes from knowing that your money will be stored in accordance with
the relevant rules, that you can always depend on receiving help from ASIC, and
that the trading circumstances will be regularly monitored.
Traders constantly guaranteed the safety of the operation because if there was
any violence or if a customer was misled, the business may face a significant
punishment. This in fact never occurs with uncontrolled businesses since those
businesses run their operations in the manner that the owners see appropriate,
which is undoubtedly quite dangerous for you.
Because of this, conducting business with a broker that is regulated by an
institution that is known all over the world is the best strategy for selecting
a broker.
Global Prime welcomes traders from most countries around the world, including
Australia, Thailand, Canada, the United Kingdom, South Africa, Singapore, Hong
Kong, India, France, Germany, Norway, Sweden, Italy, Denmark, the United Arab
Emirates, Saudi Arabia, Kuwait, Luxembourg, and Qatar. Traders can open an
account with Global Prime from any of these countries.
Traders based in the United States are unable to utilize the Global Prime
platform.
Sites like Global Prime in the UAE
Here is a list of quality Forex, CFD, Stock and Crypto Brokers for new and professional traders living in the UAE:
- Olymp Trade - People simply love this one (Olymp Trade Review)
- Binance - World's largest cryptocurrency e-wallet and exchange that also has an online trading platform, where their members can invest or trade in virtually hundreds of cryptocurrencies and new tokens. (Binance Review)
- IG Markets UAE - UK broker located at Tower 2, Level 27, Al Fattan Currency House, DIFC. (IG Markets UAE Review)
- City Index Middle East - London-city broker with a branch in the UAE. (City Index Middle East Review)
- eToro - Social trading platform, but much better options are available out there. (eToro Review)
- Swissquote - It's a Swiss bank that offers an online trading platform for forex and CFD trading. (Swissquote Review)
- easyMarkets - Israeli brand that is big all over. (easyMarkets Review)
- Forex.com - Google ranks them in the top 10 for the term "forex". (Forex.com Review)
- Plus500 - UK brand that has its own platform, OK for CFDs, with mediocre reviews. (Plus500 Review)
- AvaTrade - Regulated by ADGM's Financial Services Regulatory Authority (FSRA) in Abu Dhabi. (AvaTrade Review)
- FXCM.com - Oldest brand when it comes to retail online forex trading. (FXCM.com Review)
- Mashreq Neo - An online trading platform provided by Mashreq Bank. (Mashreq Neo Review)
- ForexTime (FXTM) - Owned by Andrey Dashin from the Alpari broker fame. (ForexTime FXTM Review)
- Noor Capital - Licensed and Regulated by the UAE Central Bank and SCA. (Noor Capital Review)
- XM.com - XM broker is big in Africa and South East Asia, and now promoting themselves hard in the UAE. (XM.com Review)
- Saxo Bank - Danish Investment Bank with a long history of catering for premium forex investors. It also provides crypto trading facility. (Saxo Bank Review)
- Pepperstone - Originally Australian, but licensed locally by Dubai Financial Services Authority. (Pepperstone Review)
- CMC Markets - UK-based broker that is popular among CFD traders. (CMC Markets Review)
- ETX Capital - UK broker that has a decent reputation among Arab investors. (ETX Capital Review)
- Interactive Brokers - American online-trading broker that is expanding into Asian and Arab markets nowadays. (Interactive Brokers Review)
- Rakuten Securities - Japanese broker that usually looks out for large institutional investors. (Rakuten Securities Review)
- Dukascopy Bank SA - Swiss bank that offers online forex trading on its own proprietary platform. (Dukascopy Bank SA Review)
- IQ Option - It's a below-average broker with no Dubai office, but does have a toll-free virtual number for UAE: 800 032 0891 -> No Arabic, English only. (IQ Option Review)
Reviewed by Arpita Singh
Arpita Singh is the main writer at ForexBroker.ae. As a senior investment professional with 10+ years of experience working at top-tier Private Equity and Sovereign Wealth Fund; she is also responsible for fact-checking concepts, reviews, and related details about brokers and exchanges listed on this website. Full Bio.