Trade forex and CFD products with an ASIC-regulated trading platform that doesn't hold a B-Book.
Global Prime is a CFD and forex broker that is built for traders who are looking to trade like institutional investors.
Whether it's low fees, trade receipts or advanced charting, Global Prime has you covered. Unlike most of its competition, it doesn't run as a market maker (B-Book), meaning Global Prime doesn't bet against your trade.
Another key feature of Global Prime is its "discord" trading community, which can help you improve your trading by asking questions to the broker right through to learning from other traders.
On the downside, it doesn't have as many options as some of its competitors. You will also need a larger initial deposit to get started.
Global Prime is a desktop and mobile trading app that allows you to trade forex and CFDs through an ECN model. This means that the broker does not run a B-Book or make money by going against your trades.
The broker also offers tight spreads and fast trade executions on more than 40 currency pairs, cryptocurrencies, commodities, indices and individual stocks as CFDs.
| Type of broker | Online |
| Available markets | Forex, cryptocurrencies, indices, commodities, bonds |
| Minimum Spreads for Major Currencies | 0.05 |
| Commission | $0 |
| Minimum opening balance | $0 |
| Minimum Trade Size | 0.01 Lot |
| Leverage | 1:30 |
| Platforms | MetaTrader 4 |
| Support | Phone, email, and livechat |
| More Info |
Global Prime offers traders 100+ markets for forex, indices, commodities, digital currencies and bonds. Unlike other platforms, Global Prime runs under an ethical dealing model.
Unlike most of the industry, it doesn't run as a market maker and doesn't have a B-Book (bet against its clients), but instead connects users to markets.
Global Prime runs an ethical dealing model. This means that the broker acts as a middleman, sending your trades to others.
In many situations, the forex broker will operate as a market maker or B-Book.
This means orders are processed by the trading platform itself. In this instance, if you as the trader lose money, the broker gains. Global Prime does not run off this model.
One of the key features of Global Prime is its TraderEvolution platform. This might not necessarily appeal to all traders, but it allows you to seek more advanced functionality for orders and algorithmic trading.
Designed for professional traders, it has more than 10 customisable charts, market depth analysis and one-click trading. It also allows you to break the market down by multiple time frames.
If you sign up with Global Prime, you'll gain access to its TraderEvolution platform app. This offers most of the functionality of the web version, but has some limitations, especially with charting and viewing options.
In order to help traders make better decisions in the future, Global Prime offers detailed trade recipes. The broker says trade receipts promote the removal of conflict between the broker and their clients through ethical and transparent dealing models.
Global Prime runs an interactive trading community that can help you learn from the broker themselves or other traders.
Institutional trading benefits
Global Prime offers a number of institutional trading benefits, including the following:
Global primes runs a spreads plus commission fees structure on its trading.
How much you'll pay in spread fees varies from account type and what you are trading.
If you choose a traditional ECN fee model, spreads start from 0.0 PIPs and $7 lot commissions.
| Google Play app reviews | 4.1/5 stars based on over 340 reviews |
| Apple App Store app reviews | 4.6/5 stars based on over 695 reviews |
You'll be able to quickly reach a Global Prime representative in a few ways:
Yes, Global Prime is safe for Aussies to trade with. This is because it is regulated by the Australian Securities and Investment Commission (ASIC) as well as a few services overseas.
The broker also offers some protections for traders including leverage limits and negative balance protections. In Australia, ASIC has negative balance protections so this feature shouldn't matter as much to Australian traders.
However, the products that Global Prime themselves are risky. Trading CFDs and forex comes with a lot of risk. In fact, ASIC has said in the past that up to 80% of traders lose money. The stats do vary though depending on the research but it's agreed between 60% and 90% of traders lose when trading CFDs.
Cameron Finder
Writer
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