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Global Prime is a brokerage company known worldwide with an Australian Financial Services License (AFSL). The broker is widely popular among Forex traders. Gleneagle Securities PTy Limited operates as a part of Global Prime FX and is registered in the Republic of Vanuatu. Global Prime is regulated by the Australian Securities and Investments Commission (ASIC) and theVanuatu Financial Services Commission (VFSC).
The company states that the customers` funds are kept in segregated accounts at Westpac, an Australian AA-rated bank. The bank complies with the rules of APRA and ASIC.
Trading conditions
Trading instruments:
- Forex
- CFD
- precious metals
- energy resources
- indexes
- cryptocurrencies
Trading platforms:
- MetaTrader 4
- ZuluTrade
- ProTrader
- WebTrader
- MYFX
- mobile trading apps
The broker offers its clients access to 48 currency pairs, with 20 exotic pairs among them. Clients can also trade metals, cryptocurrencies, and CFDs. ECN accounts are available to customers. The account currencies are USD, AUD, GBP, EUR, CAD, and SGD. Deposits made through debit or credit cards or Neteller are processed within a few hours. Funds can be withdrawn within 24 hours or up to 3 to 5 business days via bank transfer. The company offers low spreads of 0.0 pip. It is worth noting that the broker also provides speedy trade executions. With Global Prime, customers can use hedging, one-click trading, pending orders, and One-Cancels-Other orders. Demo trading platforms have the maximum inactivity limit of 30 days. They include МetaTrader 4, ProTrader, WebTrader, FIX API, and mobile trading apps.
Training
The company offers its services mostly to experienced traders. So there are no extensive training materials on the website.
Customer support
The company is headquartered in Sydney with representative offices all over the world. Customers can contact the support service via Skype, phone call, feedback form as well as through live chat and email. The customer support team is available 24 hours 5 days a week.
Traders’ feedback
Despite all the credibility that the broker is known for, traders still complain about the following issues: long process of money withdrawal, low profits due to high trading costs, and sharp changes in wide spreads. In most cases, the observed feedback is negative.
Advantages and disadvantages
Advantages:
- user-friendly trading platform МТ4
- no fees for deposit and withdrawal of funds
- 100 USD bonus available as part of “Refer a friend” promo
- low spreads
- free demo account available
- Client Agreement offers favorable conditions
Disadvantages:
- minimum deposit amount is not fixed; high trading costs
- unfavorable terms for cryptocurrency trading
- feedback from traders
