Global prime is an online trading brand that provides its clients with customised liquidity and support from the customer support team .Lets learn more about this forex trader.
Who is behind Global Prime?
Global Prime was founded in 2010, and it is a brand controlled by Global Prime PTY Limited which has been regulated since 2011. The broker is based in Sydney Australia. It also has other r offices in China and Ukraine
Global Prime is regulated by ASIC and is licensed by the Australian Financial Supervisory Commission. It is a principal ECN broker. All its customers have an opportunity to participate in the direct market access, and transactions are sent directly to the bank making it authentic. The clients’ money is stored with Westpac banking Cooperation on a trust account. This broker presents its clients with various trading assets namely Forex, CFDs, spreads, margin and leverage, market hours, slippage, swaps and financing fees.
What are the available Trading Platforms?
The broker has adopted the MetaTrader 4 platform which is the best in terms of technological advancement.It provides clients with technical indicators, great testing platforms, studying charts and expert advisor. It also allows the use of the free VPS tool that helps its clients to access the platform easily
The MetaTrader 4 is available for your computer, mobile phone and iPad. It is downloadable and compatible with windows, iPhone, and Android and apple mac operating systems. This allows a client to access the broker from a variety of devices hence flexible.
It also allows the use of the Global Prime FXs that enables clients to link their systems to liquidity making it suitable for traders who trade a lot of money in their accounts.
MAM platform that allows clients to seek the services of a money manager to manage their account. The expert advisor, however, takes over the account with a power of attorney from the client.
The Myfxbook Auto trade platform allows clients to subscribe and to copy other services and trading systems directly to their accounts. It will enable you to compare multiple systems against their track record.
What Trading Accounts are available?
Global prime offers one account for everyone. It has a leverage of 1:100 and 1:200 and a commission of 7 dollars for every 100,000 dollars traded. This account allows its clients to deposit a minimum amount of 100 dollars; it also has a minimum trade size of 0.01lots. Therefore there are no variety accounts;, therefore, clients work with what is provided.
However, there is a Demo account that is provided. It is mostly recommended for new clients who do not know much about forex trading. They use this account to put their trading skills to the test.
Deposits and withdrawal options
Global prime accepts AUD, USD, EUR, GPB, CAD and SGD as its main currencies. It also allows payments from Bank Wire Transfer, POLI, VISA, MasterCard, Neteller and BPay to deposit into your account. There are no charges for deposit or withdrawal of fees but may be transfer fees depending on your preferred payment method.
Withdrawal requests should be made from the client portal and processing time depends on the withdrawal to account. Credit card withdrawals only allow withdrawal of funds equivalent to the initial deposit amount.
Commissions, Spreads and Leverage
Global Prime provides leverage of 1:100 and 1:200. There is also a commission of 7 dollars for every 100,000 dollars traded on the client’s account. There is also refer a friend promotion that allows a bonus of AUD 100 for every successful client referred. It also offers free trading signals for clients.
Customer support
Global Prime has a strong customer support team that is available for 24 hours. You can contact them through the online live chat platform, call them or mail them. All these methods provide quick responses. There is also a template on your website that can be used to contact a customer support agent. You can also interact with the Global Prime family of Facebook, Twitter and LinkedIn.
Pros
- Copy trading available
Allows copy trading that will enable clients to copy trading strategies from other systems and compare them against performance on their account.
- MT4 platform.
Global Prime uses the MT4 program that vis highly rated in the forex market to provide its client with the best trading tools available.
- Regulated
This broker is regulated by ASIC making it safe for the clients to dedicate their funds
Cons
- Only one account.
There is only one account; therefore, clients do not have the liberty to choose their accounts types
Conclusion
Global Prime is a broker that is worth a consideration despite the limited accounts and trading platforms. It is regulated by AISIC making it a legitimate broker. It also allows banking of the clients’ money separately hence ensuring the safety of the clients. The use of the MT 4 platform which is highly recommended for forex trading due to its innovative technology makes it commendable.