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.
British traders may feel at ease while working with Global Prime because it is a
reputable broker. It continues to be regulated by ASIC, which is widely regarded
as one of the most effective regulatory agencies in the world, as well as by the
FSA of Seychelles and the VFSC of Vanuatu.
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.
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.
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
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:
picking out markets to include on our watchlists.
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.