User Reviews

Regulation Analysis

Global Prime maintains a dual regulatory structure with its primary entity FMGP Trading Group Pty Ltd regulated by the Australian Securities and Investments Commission (ASIC) under Australian Financial Services License No. 385620. This license authorizes the company to deal in securities, derivatives, and foreign exchange contracts while providing general advice to both retail and wholesale clients. ASIC regulation requires strict compliance with capital adequacy requirements, external audits, and segregation of client funds in top-tier banks. The secondary entity, Gleneagle Securities Pty Limited trading as Global Prime FX, is registered in Vanuatu (Company Number 40256) and regulated by the Vanuatu Financial Services Commission (VFSC). While the VFSC provides basic oversight, it offers less stringent protection compared to ASIC regulation. The broker maintains a clean regulatory record with no adverse findings from any financial regulator or court of law. Client funds are held in segregated accounts with reputable banks, separate from company operational funds. However, traders should note that regulatory protections vary significantly between the Australian and Vanuatu entities, with ASIC-regulated accounts providing stronger investor safeguards.

Trading Products

• Forex: Over 100 currency pairs available including majors, minors, and exotics with spreads starting from 0.0 pips on Raw accounts
• Indices: Major global indices including S&P 500, FTSE 100, DAX 30, and ASX 200 with competitive spreads
• Commodities: Range of metals, energies, and soft commodities including gold, silver, crude oil, and natural gas
• Cryptocurrencies: Access to 14+ digital currencies with spreads starting from 0.04% for Bitcoin and 0.09% for Ethereum
• Trading Conditions: Maximum leverage up to 1000:1 (subject to regulatory restrictions), minimum trade size 0.01 lots, maximum position size 1000 lots
• Market Hours: 24/5 forex trading, variable hours for other instruments based on underlying market hours

Trading Platforms

Global Prime primarily offers the MetaTrader 4 (MT4) trading platform, recognized as the industry standard for forex and CFD trading. The platform features comprehensive charting capabilities with multiple timeframes, 50+ built-in technical indicators, and support for Expert Advisors (EAs) enabling automated trading strategies. Traders can access MT4 through multiple versions: Desktop (Windows), WebTrader (browser-based), and Mobile (iOS/Android) applications. The broker enhances MT4’s functionality through institutional-grade liquidity bridges providing fast execution speeds averaging 10ms. Platform features include: one-click trading, advanced charting tools, custom indicators, market depth information, and real-time news feeds. VPS hosting services are available for EA traders requiring 24/7 platform uptime. The mobile apps offer full trading functionality including chart analysis, position management, and push notifications for price alerts.

Deposit and Withdrawal

• Deposit Methods: Bank wire transfer, credit/debit cards (Visa/Mastercard), e-wallets including Skrill and Neteller, cryptocurrency deposits supported
• Minimum Deposit: No minimum deposit requirement for both Standard and Raw accounts
• Processing Times: Electronic payments (cards/e-wallets) processed instantly, bank transfers typically 1-3 business days
• Withdrawal Methods: Same as deposit methods with funds returned to original source
• Withdrawal Processing: 24-48 hours internal processing plus payment method timeframes
• Fees: No deposit fees charged by broker, third-party payment processor fees may apply
• Base Currencies: USD, AUD, GBP, EUR, CAD, SGD, JPY supported
• Verification: Standard KYC documentation required including proof of identity and residence

Customer Support

Global Prime provides customer support through multiple channels including email, live chat, and phone support. The support team is based in Melbourne, Australia, with service primarily in English. Response times vary by channel with live chat typically offering the fastest response. Email queries are generally answered within 24 hours during business days. The broker maintains a comprehensive help center with detailed FAQs, trading guides, and platform tutorials. While specific support hours are not clearly advertised, the service appears to follow standard market hours. The quality of support is generally well-regarded based on client reviews, with staff demonstrating good technical knowledge and problem-solving capabilities. Additional support resources include regular market analysis, trading webinars, and educational content accessible through the broker’s website.

FAQ

Q: Is Global Prime a regulated and safe broker?
A: Yes, Global Prime operates under strict regulatory oversight through its Australian entity FMGP Trading Group Pty Ltd, which holds ASIC license number 385620. This ensures client fund segregation, regular audits, and compliance with Australian financial regulations. The broker has maintained a clean regulatory record since 2010 with no adverse findings.

Q: What are the main account types and their features?
A: Global Prime offers two main account types: Standard Account with spreads from 0.9 pips and no commission, and Raw Account with spreads from 0.0 pips plus $3.50 commission per side. Both accounts feature no minimum deposit, maximum leverage of 1000:1 (subject to regulations), minimum trade size of 0.01 lots, and support multiple base currencies.

Q: How competitive are the trading costs?
A: The broker offers highly competitive trading costs with raw spreads starting from 0.0 pips plus commission on Raw accounts, and from 0.9 pips with no commission on Standard accounts. For major pairs like EUR/USD, typical spreads average around 0.14 pips on Raw accounts during main market hours.

Q: What are the deposit and withdrawal conditions?
A: Global Prime accepts various payment methods including bank transfers, credit/debit cards, and e-wallets. There is no minimum deposit requirement, and the broker doesn’t charge deposit fees. Withdrawals are processed within 24-48 hours internally, with total processing time depending on the payment method chosen.