Global Prime is an Australian-owned ECN broker that offers trading services in Forex, CFDs and commodities. In this post, we will discuss everything you need to know about Global Prime.
You will learn what Global Prime is and how it works. We will also talk about Global Prime security and deposit safety measures, the commodities you can trade on Global Prime, how to create an account, the trading platforms available on Global Prime, and many more.
What is Global Prime, and How Does it Work?
Global Prime is a broker that provides its users with trading opportunities. Users can trade Forex, Contract For Difference (CFDs) and commodities.
If you’re a mid-level trader or someone with some knowledge about trading, you will understand what a broker means. If you’re a beginner, you may have to get familiar with some terminologies in the financial and trading industry.
Whether you want to trade stocks, Forex, CFDs, etc, you need to buy from someone that owns it, or the company/party offering it. The same applies to selling.
Now, there has to be an intermediary, in other words, a middleman to place those orders on your behalf. That middleman is known as the “Broker.” A broker is a person or company authorized to buy and sell stocks, Forex and other investments.
As we all know, we’re now in a digital world. Unless you’re spending millions of dollars on trading, you definitely won’t have the time, need or enough funds to hire the services of a broker.
So, how do you go about it?
That’s exactly where Global Prime comes into play. It allows anyone in any of the supported countries to open an account and trade through the platform. And it’s free. You won’t pay a dime to open an account on the Global Prime platform.
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Deposit Protection: Is my Money Safe With Global Prime?
Yes, your money is safe with Global Prime. This platform is highly regulated by some of the best regulatory bodies in the world. This includes ASIC, the FSA of Seychelles, and the VFSC of Vanuatu.
All user deposits are secured in segregated Client Trust Accounts with HSBC Bank Australia Limited, an A-rated Australian bank regulated by APRA and ASIC.
What Can You Trade on Global Prime
1. Foreign Exchange (Forex)
Forex trading is one of the key specialities of the Global Prime trading platform. The platform has an institutional-style trading setup. This is further backed by 3 prime brokers and more than 26 liquidity providers.
Registered users will be able to verify performance with trade receipts. You can see who filled your trade, execution speed, slippage and many other details.
Global Prime offers 45 currency pairs and Tight ECN spreads from 0.0 pips.
If you desire tight spreads and great execution, then Global Prime’s Index CFDs might be worth your attention.
They make use of specialist non-bank market makers to ensure fast and sharp prices across their Index CFDs.
When you start trading indices on the Global Prime platform, you will see one of the tightest spreads in the world on the Dax and Dow. These are among the most popular indices for CFD traders.
Global Prime offers 10 Indices to trade from any country and there are no commissions.
Commodities refer to tradable items like gold, silver, crude oil and the like. Commodities markets involving Gold and Oil are usually busy with traders.
The reason behind this is not so hard to see, as they have a trending nature of high volatility. This high volatility and large price moves are what make the commodities market a place of risk and reward.
Global Prime claims they use the world’s fastest non-bank market makers that have high reliability for oil trading. The platform offers more than 20 commodities, including but not limited to metals, energies and softs.
Global Prime allows all interested users to buy and sell any amount of shares and equities of many high-value companies in the world. This includes but is not limited to popular companies like Amazon, Apple, Meta, etc.
Once you create an account with Global Prime, you can access and trade stocks from the TraderEvolution and TradingView platforms.
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Trading Platforms Available on Global Prime
1. MetaTrader 4 (MT4)
MetaTrader 4 is available on the Global Prime platform. It is one of the most popular trading platforms in the world alongside TradingView. MT4 has become a benchmark for many other retail trading platforms.
MT4 is available on Windows, MAC, Web, iOS and Android OS.
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The TraderEvolution platform is a special one for professional traders and highly skilled users in the industry.
If you’re someone that wants to access more functionality than is currently available through most retail trading platforms, then TraderEvolution is worth your attention.
This trading platform is also available on Global Prime. It comes equipped with the same market-leading pricing and execution as the MT4 platform
It also includes Level 2 pricing, DoM trading and Volume analysis. TraderEvolution is available on Windows, iOS and Android operating systems.
Global Prime Trading Tools
TradingView is a very popular trading tool in many countries of the world. It is also available to Global Prime users.
TradingView provides one of the world’s best charts and analysis tools which users can use to trade in the global market.
Traders can also use this platform to track prices and analyze forex pairs, stocks, cryptocurrencies, commodities, and many other tradable assets.
2. Myfxbook Autotrade
Myfxbook Autotrade is a social trade copying service that allows traders to subscribe and copy other trading systems directly into a Global Prime trading account.
VPS is mainly useful for traders running an automated trading system. It’s a great resource, as it prevents unnecessary network latency and maintains connectivity.
4. Fix API
Global Prime Fix API Solution is also available for professional traders that want to deploy their proprietary algorithmic trading solution with the lowest possible latency.
Countries Where Global Prime is Not Available
Due to restricting policies and governmental reasons, Global Prime is not available in these countries and regions (as of the moment of writing this article).
- Ivory Coast
- Puerto Rico
- North Korea
- Ontario Province (Canada)
How to Create an Account on Global Prime
1. Visit the Global Prime Registration page here 👉 Global Prime Account here
2. If you’re a beginner, you can open a Demo account and practice with it. If you’re ready to start trading, you can proceed with the account opening process.
3. On the next page, click on “Start Application.”
4. Select your preferred trading currency, your country of residence and your leverage. Once you’re done click on the “Continue” button.
5. On the next page, enter your full name and email address. You will also need to provide a strong password for your Global Prime account. Click on the “Continue” button and follow the prompts.
How to use Global Prime on smartphones
You can make use of Global Prime on your phone and trade from the comfort of your home.
If you’re using an Android device, you can get Global Prime from the Google Play Store. It has over 5,000 downloads and a small size of 16 MB.
Global Prime is also available on the iOS operating system. If you’re using an iPhone, iPad or any other iOS device, you can download Global Prime from the Apple App Store.
Funding Your Global Prime Account
You can deposit money into your account from inside the Client Portal. Global Prime allows users to make deposits using any of the following 6 base currencies:
There are many deposit options available on Global Prime. The ones available to you will depend on your preferred currency and country of residence.
- Bank Wire
- MasterCard, and many more.
Withdrawing Funds From Your Global Prime Account
Withdrawals can be made from inside the Client Portal. You must submit your withdrawal request before 10 AM AEST or 11 AM AEDT. All withdrawals will be processed the same day you ask for them.
Note that you can still place withdrawals after the specified time window has expired, but they won’t be processed until the next business day.
Withdrawals usually take only 2 to 3 business days. However, there may be delays, depending on your bank and country of residence. Here are the available withdrawal options on Global Prime and their processing duration.
- MasterCard: 1-10 Business Days
- VISA: 1-10 Business Days
- Neteller: Instant processing
- Bank Wire Transfer: 1-2 Business Days (AU), 3-5 Business Days (other countries)
Global Prime Transaction Fees and Service Charges
Global Prime itself does not charge any additional deposit or withdrawal fees. However, the payment system you’re using will charge transaction fees.
In many cases, Global Prime covers deposit fees on behalf of its users (up to 4% of the deposit amount). Note that this only applies to deposits made through Neteller, PayPal, Skrill and Credit Cards.
Note that Global Prime doesn’t cover withdrawals made through Bank Wire Transfers. In that case, the user will be responsible for the Intermediary Bank Charges.
Global Prime Head Office and Customer Care Line
Global Prime Head Office
Global Prime PTY Ltd (ABN 74 146 086 017), Suite 504, 35 Grafton Street, Bondi Junction, Australia.
Global Prime Customer Care
- +61 (2) 8379 3622
- +61 (2) 8379 3622
- Support: Support@globalprime.com
- Account and payment enquiries: Accounts@globalprime.com
Disclaimer: Forex, Stocks, Commodities, Indices, Crypto, CFDs and NFTs have high levels of risk, as your losses can exceed your initial investment. You should only trade with money you can afford to lose.
The information on this webpage is for educational purposes only and should not be treated as investment advice.
Now it’s time to ask you some questions.
I am going to ask you 3 questions with enough time to think about each one.
Share your answers in the comment section down below and I will see how many I can correct.
If I don’t get to you, please help each other around and correct each other.
- What are the two trading platforms available on Global Prime?
- Mention 3 trading tools available on Global Prime.
- Aside from Forex and crypto, what other financial asset(s) can be traded on Global Prime?