Global Prime Review
Registered in Australia, Global Prime is an online forex broker that has been providing service for more than a decade.
In the following article, we will analyze the characteristics of this broker from various aspects, providing you with simple and organized information. If you are interested, please read on.
At the end of the article, we will also briefly summarize the main advantages and disadvantages so that you can understand the broker's characteristics at a glance.
![General information General information](https://wzimg.fx696.com/guoji/2023-01-29/638106060567886197/ART638106060567886197_954685.png-article598)
Regulatory Status
Global Prime is associated with several regulatory bodies. While Global Prime claims to be regulated under these authorities, the legitimacy of such claims is questionable as they are marked as “Suspicious Clones.” This status suggests that the entity might be impersonating another legitimate company or misrepresenting its regulatory approval.
ASIC (Australian Securities and Investments Commission):
Status: Listed as a Suspicious Clone.
Type: Australia Market Making (MM).
License Number: 385620.
![ASIC ASIC](https://wzimg.fx696.com/guoji/2024-06-07/638533784830964796/ART638533784830964796_351107.jpg-article598)
FSA (Financial Services Authority of Seychelles):
Status: Listed as a Suspicious Clone.
Type: Seychelles Retail Forex License.
License Number: SD057.
![FSA FSA](https://wzimg.fx696.com/guoji/2024-06-07/638533784969967701/ART638533784969967701_202874.jpg-article598)
VFSC (Vanuatu Financial Services Commission):
Status: Listed as a Suspicious Clone.
Type: Vanuatu Retail Forex License.
License Number: 40256.
![VFSC VFSC](https://wzimg.fx696.com/guoji/2024-06-07/638533785040504870/ART638533785040504870_726190.jpg-article598)
Market Instruments
Currency pairs, indices, commodities, metals, energy, cryptocurrencies, stocks, bonds .....Global Prime allows clients to access a huge range of trading markets. Therefore, both beginners and experienced traders can find what they want to trade on Global Prime.
![market instruments market instruments](https://wzimg.fx696.com/guoji/2023-01-29/638106060620513133/ART638106060620513133_826470.png-article598)
Spreads and Commissions
In Global Prime, the spreads are shown in a separate page and the commissions are 7 USD per lot. We can see that the minimum spreads for major forex pairs are 0.0 pips.
![spreads and commissions spreads and commissions](https://wzimg.fx696.com/guoji/2023-01-29/638106060657338602/ART638106060657338602_500897.png-article598)
Account Types
Demo Account: Global Prime provides a demo account that allows you to try out the financial markets without the risk of losing money.
Live Account: Global Prime only provides one type of ECN account, the commission is 7 USD per lot, no minimum deposit and spreads are tight.
![account types account types](https://wzimg.fx696.com/guoji/2023-01-29/638106060699984945/ART638106060699984945_192675.png-article598)
Trading Platforms
When it comes to trading platforms, Global Prime provides MT4 and Tradingview, both are among the most popular platforms in the world. The clients may choose the one they prefer freely.
![trading platform trading platform](https://wzimg.fx696.com/guoji/2023-01-29/638106060755024164/ART638106060755024164_869615.png-article598)
Leverage
The maximum leverage offered by Global Prime is only 1:30 or 1:100, which may seem too low to you. In reality, those leverage of up to 1:500 or even 1:1000 are all from unregulated or offshore regulated brokers, and as we know, offshore regulation is much less strict regulation. For brokers that are formally regulated by the major regulatory bodies, they can only offer leverage of 1:30 or 1:50 at best, which is sufficient for the novice Forex trader. Lower leverage reduces the potential gains on trades, but more importantly, it reduces much of the risk. We recommend that you always keep your account risk at 2% or less.
![leverage leverage](https://wzimg.fx696.com/guoji/2023-01-29/638106060807036201/ART638106060807036201_113258.png-article598)
Deposit & Withdrawal
In terms of deposit and withdrawal, like many good brokers, Global Prime provides a detailed form with important information about currency, payment method, minimum amount, arrival date, fees, etc.
![deposit and withdrawal deposit and withdrawal](https://wzimg.fx696.com/guoji/2023-01-29/638106060852328953/ART638106060852328953_892146.png-article598)
Educational Resources
A series of educational resources is available at Global Prime, such as autochartist alerts, economic calendar, market opportunities, chrome extender, VPS, autotrade, pip calculator, etcetera.
![educational resources educational resources](https://wzimg.fx696.com/guoji/2023-01-29/638106060903041588/ART638106060903041588_859647.png-article598)
Customer Support
Global Prime offers comprehensive customer support tailored to meet the needs of its diverse client base. Here are the key details regarding their customer service offerings:
Languages Supported: English and Portuguese, accommodating a broad range of clients.
Service Hours: Available 24 hours a day, 5 days a week, aligning with global forex market hours.
Email Support: Clients can reach out for assistance via email at support@globalprime.com.
Phone Support: For direct communication, clients can call +61 (2) 8379 3622.
Physical Addresses:
Australia: Global Prime PTY Ltd (ABN 74 146 086 017), Suite 504, 35 Grafton Street, Bondi Junction, Australia.
Vanuatu: Global Prime FX (Company Number 40256), Govant Building, BP 1276, Port Vila, Vanuatu.
Social Media Presence: Global Prime maintains an active presence on several social media platforms including Facebook, LinkedIn, YouTube, and Twitter.
![customer support customer support](https://wzimg.fx696.com/guoji/2023-01-29/638106060954146015/ART638106060954146015_320426.png-article598)
FAQs
Is this broker well regulated?
Yes, it is currently effectively regulated by ASIC and FSA.
What trading instruments are available?
You can trade a variety of instruments including currency pairs, indices, commodities, metals, energy products, cryptocurrencies, stocks, and bonds.
What is the minimum initial deposit required to open an account?
There is no minimum deposit required to start trading.
What is the maximum leverage offered?
The maximum leverage offered is 1:100.