Global Prime

Global Prime logo
  • 💵 Currencies
  • 🛠 Platforms
    MT4, TradingView, AutoChartist
  • ⇔ Spread
    GBPUSD: 0.75
    EURUSD: 0.16
    GBPEUR: 0.85
  • # Assets
  • 🪙 Minimum Deposit
  • 🫴 Bonus Offer

My Opinion On Global Prime

Global Prime is a regulated forex broker with some significant strengths, including ASIC oversight, 60+ currency pairs, and fast execution speeds of 25ms on forex trades. However, for me it’s a mixed bag – I couldn’t ignore the global entity’s lack of negative balance protection or the overall weaknesses in educational content and forex research.

I have tested diverse styles and strategies over weeks of trading with Global Prime to get the measure of the broker’s full range of services and how they stand up to the competition. Read my review to get the full, unbiased story on Global Prime.


  • Instruments: 150+ including 60 currency pairs, indices, commodities, bonds, crypto
  • Live Accounts: Standard, Raw
  • Platform & Apps: MetaTrader 4
  • Deposit Options: Credit/debit card, wire transfer, cryptocurrency, PayPal, Neteller, Skrill, Perfect Money, POLi, AstroPay, PayID, DragonPay, VNPay, FasaPay, PromptPay, Pagsmile, Bpay, GATE8, Jeton, Mifinity, XPay
  • Demo Account: Yes

Pros & Cons

  • I rate the fast execution speeds averaging 25ms on FX trades with no strategy restrictions
  • Customer support is reliable and available 24/7 with fast response times during tests
  • The broker accepts 20+ commission-free payment methods with 8 base currencies
  • Myfxbook Autotrade provides an easy-to-use copy trading tool for beginners
  • The $0 minimum deposit makes the broker appealing to new traders
  • I find the Autochartist solution very useful for finding trading ideas
  • There is no inactivity fee for dormant accounts
  • Traders with the global entity will not receive negative balance protection
  • The selection of 150+ non-forex assets is limiting with no stocks
  • I have been disappointed by the weak education and market research
  • Only the MetaTrader 4 platform is available for forex trading

Is Global Prime Regulated?

For me, regulatory oversight is one of the critical factors when it comes to rating forex brokers. I want to see credible oversight from top-tier authorizations, and it’s great to see that Global Prime has obtained this for their Aussie branch, which is licensed by the Australian Securities & Investments Commission (ASIC).

However, the global subsidiary, which will cover most retail traders, is regulated by an offshore institution – the Vanuatu Financial Services Commission (VFSC). This is not uncommon, and I’m sure some traders will prefer the higher leverage on offer from this entity.

Still, I know the best offshore brokers will ensure traders are covered by top-tier safeguards like negative balance protection, so I was disappointed that my first-hand research found this unavailable to clients registered under the VFSC entity. This means you will be at risk of losing more than your original deposit and becoming indebted to the broker. It also means I can only give the firm an average trust score.

I am happy to see one important measure in the form of segregated client funds, though this is something that I expect any decent forex broker to implement.

The broker’s entities are:

  • FMGP Trading Group Pty Ltd (trading as Global Prime): Regulated by the Australian Securities and Investments Commission (ASIC), registration number 385620
  • Gleneagle Securities Pty Limited (trading as Global Prime FX): Regulated by the Vanuatu Financial Services Commission (VFSC), registration number 40256

Forex Accounts

I like brokers that offer a choice of different account types without restrictions to the product portfolio or trading tools, so I enjoy the simplicity of Global Prime’s two account types: Standard and Raw, which are differentiated by their pricing models.

Both accounts share a lot of the main features including a 0.01 minimum trade size, access to all markets, and no minimum deposit. I was also pleased to see eight account base currencies, which is great for international investors and saves on conversion fees.

My only real disappointment was the lack of a swap-free solution, which makes the forex broker less appealing to Islamic traders.

Also, while a Professional account is available for eligible investors, I was disappointed that the only perk available is higher leverage, with no fee discounts for higher trading volumes.

I have compared the two Global Prime accounts below and indicated which type of trader I believe they best suit.

Best ForBeginners and casual tradersDay traders, scalpers and algo traders
SpreadsFrom 0.9 pipsFrom 0.0 pips
Commission$0$3.50/Round Turn

How To Open An Account

I found Global Prime’s account registration process to be a breeze – I completed all the requirements within 10 minutes:

  1. Add your email address to the application form and create a password
  2. Review and agree to the T&Cs and click ‘Sign Up’
  3. Select ‘Continue’ from the top left of the client portal
  4. Complete your personal details on the first page and hit ‘Next’
  5. Choose your account configurations (account type, platform, base currency, and leverage)
  6. Choose a security question from the dropdown menu and input the answer
  7. Review and agree to the T&Cs and select ‘Next’
  8. Choose an ID verification document and upload an image. Select ‘Next’ to complete the live account registration

Trading Fees

After comparing Global Prime’s spreads on popular currency pairs to similar forex brokers, I find their trading fees better than average.

When I tested the Raw account, average spreads came in at 0.13 on the EUR/USD, 0.27 on the EUR/GBP and 0.30 on the USD/JPY. Alongside the $7 round-turn commission, this is competitive.

Traders with the commission-free Standard account also get reasonable spreads starting from 0.9 pips. And while this is slightly higher than the spreads from 0.8 pips you can expect from alternatives like Plus500, it still compares well to most forex brokers I have assessed.

Non-Trading Fees

By providing fee-free deposits, Global Prime has satisfied one of my basic requirements for a forex broker. I did note a transfer fee of $20 to $30 on international wire transfers, though as an external charge, this is not in the broker’s hands.

Global Prime gives traders an added bonus by ensuring fee-free withdrawals, giving it an advantage over many brokers including some pack leaders like eToro.

It is also great to find no inactivity fee, strengthening the broker’s appeal to casual forex traders.

Swap rates apply on forex positions held overnight while triple swaps apply on Wednesdays due to weekend market closures. However, this is standard practice.

Payment Methods

I find that Global Prime excels when it comes to payment options, offering a good range of accessible and low-cost payment methods including standard debit cards and bank transfers, cryptocurrencies and popular e-wallets such as Neteller, PayPal, and Skrill.

Even better, during my testing, I was pleased to see a selection of localized payment methods such as POLi (AUD), and Interac (CAD).

Instant funding is available for the majority of payment types except bank transfers, which take the standard 3+ working days.

I found that there are minimum deposit levels which vary by funding type, but these are $10 or lower which is reasonable.

How To Make A Deposit

My experience making deposits to my Global Prime account was enjoyable, and I had no issues adding funds using the following easy steps:

  1. Sign in to the client portal
  2. Select ‘Payments’ from the left menu and then click the ‘Deposit’ tab
  3. Choose your trading account to deposit from the dropdown menu and click ‘Proceed’
  4. Payment options will be displayed at the top of the page
  5. Complete the relevant prompts including the deposit amount and click ‘Deposit’

Forex Assets

I like Global Prime’s forex offering of 60 pairs – it’s safely above the average of the brokers I have tested, even if it isn’t in the upper echelons with brokers like that offer 70+ or 80+.

I found the major, minor and exotic pairs perfectly adequate to cover everything I wanted to trade during my time using Global Prime. Since the forex broker offers the following popular pairs, I think most traders will have a similar experience:

Forex PairAvailableForex PairAvailable

Non-Forex Assets

I consider it important for forex brokers to offer alternative instruments such as stocks, commodities, and cryptocurrencies so that traders can create a broad portfolio.

Unfortunately, Global Prime offers a limited product line-up with around 150 assets in total. Stock CFDs are a major asset group that the broker is lacking.

On the bright side, the 40 crypto pairs is a fairly diverse range for online brokers, and I was happy to see major indices including the S&P 500 and the VIX.

The full range of non-forex assets includes:

  • 16 cash indices and 2 futures indices including the S&P 500, FTSE 100, and Volatility Index (VIX)
  • 15+ commodities including natural gas, gold, sugar, and brent crude oil
  • 40 crypto/USD pairs such as BTC/USD, ETH/USD and BNB/USD
  • 3 bonds including the UK Gilt and the 5-year US T-Note


I am reassured that Global Prime uses a non-dealing desk model while also providing low latency.

During my tests, I experienced outstanding execution speeds as low as 10ms, and an average of 25ms on forex trades which is much faster than our 100ms benchmark for ‘fast’ brokers.

Fill rates are also impressive, sitting at a 90%+ average.


Global Prime traders can access leverage up to 1:100 from the global entity or 1:30 from the Australian branch.

For me, the offshore offering is quite low compared to some alternatives, such as RoboForex, providing up to 1:1000. That said, trading forex with high leverage does come with substantial risks, and without negative balance protection I think retail traders should be very careful with the 1:100 on offer (or lower).

While using the Global Prime trading platform, I found a 120% margin call and 100% stop-out level applies to both account types.

Platforms & Apps

I’m happy to see the old favorite, MetaTrader 4, available from Global Prime, but at this point, I don’t feel this platform offering really stands out.

MT4 has become an industry standard over decades, and I am perfectly happy to use it, but I feel that elite brokers nowadays should offer a selection of third-party platforms including more recent releases like TradingView, cTrader or MT5. Alternatively, it is good to have a beginner-friendly proprietary solution. So, it is a little disappointing to only have MT4 available.

However, there is a silver lining: the trading services offered by Global Prime work perfectly with this platform, ensuring a complete user experience with a fully operational MT4 mobile app available to boot.

Global Prime MetaTrader 4 platform

Based on my experience trading forex on MT4, the highlights are:

  • 3 chart types (bar, line, and candlestick) with 9 timeframe views
  • 30+ in-built technical indicators and 24 drawing tools
  • One-click trading so you can trade forex directly from charts
  • Expert Advisors (EAs) for algorithmic trading
  • 4 pending order types

    How To Make A Forex Trade

    Opening forex positions on MT4 is straightforward, thanks to the robust, tried-and-tested interface:

    1. Find a currency pair to trade using the ‘Market Watch’ window on the left-hand side
    2. Right-click on the forex pair and choose ‘New Order’
    3. Input your trade parameters, including order type, volume, and risk management levels
    4. Approve the command by selecting ‘Buy’ or ‘Sell’
    Making a forex trade on the Global Prime platform

    Forex Tools

    For traders looking for a large selection of forex tools, I don’t think Global Prime will disappoint. The broker is very competitive in this respect, and holds up well against brands such as XM with VPS hosting, copy trading, calculators, and trend systems.

    I feel the suite of extra functions should suit traders of all experience levels.

    Using the margin calculator at Global Prime
    Margin Calculator


    After registering for a Global Prime live trading account, I was able to access complimentary VPS hosting if I traded at least 20 lots of FX.

    Alternatively, the brand provides third-party access to NYC Servers with a 25% discount off standard market prices.

    I would recommend VPS solutions for experienced investors, or those wanting a hands-off approach to automated trading with stable connectivity.


    Global Prime provides copy trading services to customers via MyFXBook.

    I think the solution is ideal for traders looking to mirror the positions of more experienced traders – it’s one of my favorite third-party tools, and I like the in-depth performance statistics of signal providers including profit ratios and total drawdown.


    Autochartist is an advanced trend-scanning tool which finds emerging patterns and trade ideas in real-time. The best part is, the feature can be added directly into the MT4 terminal via an easy-to-install plugin.

    I really enjoy using this tool – both on MT4 and through the email subscriptions, which provide daily market snapshots, news updates and more, all to your email inbox.

    Global Prime Autochartist app

    Forex Research

    While I really like the trading tools and feel these can be used to conduct research, I am disappointed at the lack of alternative avenues to conduct forex research. There is no expert analysis provided, leaving Global Prime trailing behind the many rivals that offer this type of service.

    If forex research tools are important to you, I recommend one of these alternatives:

    Alternative Brokers for US

    Forex Education

    As with the research, Global Prime has dropped the ball when it comes to educational content, and I feel beginners are left with very little to help them improve, with no training guides, webinars, or articles available.

    This is especially evident when I compare Global Prime to alternatives like Pepperstone, which offers a wealth of materials to help new currency traders.

    Demo Account

    I am pleased to see Global Prime offers a demo profile, as this allows forex traders to test the broker’s services under real market conditions without risking their cash.

    Given the general lack of educational content offered, access to a demo account for me is vital. I welcome the unlimited virtual funds, real-time price quotes, and access to the full catalog of instruments.

    How To Open A Demo Account

    I had no problems registering for a demo trading account. The process was quick and seamless, and I was able to start trading currencies in less than two minutes:

    1. Click the ‘Sign Up’ icon from the top right of the broker’s website
    2. Add your email address and create a password
    3. Review and agree to the T&Cs and click ‘Sign Up’
    4. From the account portal, click ‘Accounts’ and then select the ‘Demo’ tab
    5. Choose the ‘+ New Account’ icon
    6. Input your practice account requirements (account type, base currency, leverage, and virtual balance)
    7. Login credentials will be sent to your registered email address
    8. Launch the MT4 platform and start trading with paper funds
    Opening a Global Prime demo account

    Bonus Offers

    Global Prime does not offer any welcome bonuses or sign-up incentives for new customers.

    Though this isn’t a major downside for me, it can be a useful capital boost for those starting out and it is one of the few advantages that offshore firms have over top-tier regulated ones.

    Trading Restrictions

    Global Prime allows all good-faith trading strategies with no restrictions, including the go-ahead to use Expert Advisors (EAs) for automated systems.

    Hedging, scalping, and news trading are enabled on both account types, which I feel broadens the appeal of this broker to include many more experienced traders.

    Customer Service

    Access to reliable customer support is a dealbreaker for me – if I have a poor experience during this part of a broker review, I will not typically recommend the firm. Fortunately, when I conducted in-depth tests of Global Prime’s customer service I was very impressed overall.

    During my test enquiries, I found the live chat service to be up there with some of the best brokerages. For example, I used the website function to ask an account-specific question and received a useful response from an agent in less than three minutes. From there, I engaged in a conversation with the agent, asking further account and forex trading-related questions. I enjoyed the professional yet personalized approach, with plenty of information provided.

    My Global Prime review is also pleased to observe 24/7 telephone and email help. I appreciate specific email addresses for different query categories, for faster and more appropriate responses.

    Company Details

    Global Prime was established in 2010, with the mission to make access to the financial markets easy for everyone.

    The broker operates two global entities, with regulatory oversight from ASIC and VFSC and registered office addresses in South Yarra, Australia, and Port Vila, Vanuatu.

    Today, the brokerage offers 150+ instruments, including 60 currency pairs.

    Trading Hours

    While trading with Global Prime, I was able to access forex markets during standard opening hours, 24/5, from 5 PM Sunday to 5 PM Friday (ET). I traded with a GMT +2 server time, or GMT +3 during DST.

    I also appreciate the integrated economic calendar, which provides a basic overview of economic influences and upcoming events or holiday dates.

    Screenshot of Global Prime's economic calendar
    Economic Calendar

    Who Is Global Prime Best For?

    Based on my time using the forex broker, I think Global Prime is best for Australian traders looking to speculate on popular currency pairs through the MetaTrader 4 platform. The brokerage is overseen by the trusted ASIC.

    The lack of educational content and market research makes it difficult for me to recommend the forex broker to novice investors, though I am sure many traders will enjoy using the various tools.


    Is Global Prime Legit Or A Scam?

    During my testing, I found nothing to suggest Global Prime is a scam. Strong regulatory oversight of the Australian entity is also reassuring.

    Can I Trust Global Prime?

    Following my review I feel assured that Global Prime is a trustworthy brand. However, the global entity lacks top-tier regulation, and I was concerned about the lack of negative balance protection.

    Is Global Prime A Regulated Forex Broker?

    Yes, Global Prime is a regulated forex broker, operating two entities. I confirm the verification of licensing with the ASIC and the VFSC.

    Is Global Prime A Good Or Bad Forex Broker?

    Based on my experience, I think Global Prime is a good broker for forex trading. With 60 currency pairs, the industry-established MT4 platform, and a good choice of additional trading tools, it creates a reliable environment for traders, though global clients should be careful due to the lack of negative balance protection.

    Is Global Prime Good For Beginners?

    I don’t feel Global Prime is the best for beginners. Despite a free demo account and low minimum deposit, the lack of educational resources and research tools means it trails alternatives.

    Does Global Prime Offer Low Forex Trading Fees?

    Based on my assessment, Global Prime offers fairly low trading fees, with raw spreads from 0 pips, and a $7 commission per lot on the Raw account. Alternatively, the Standard account has commission-free trading, with spreads starting from 0.9 pips on major currency pairs.

    Does Global Prime Have A Forex App?

    Global Prime does not have a proprietary mobile app, however, MT4 does have iOS and Android device compatibility. The application is a reliable solution for speculating on currencies on the go.

    How Long Do Withdrawals Take At Global Prime?

    I found that withdrawal times vary by payment method. E-wallets such as Neteller and Skrill provide the quickest processing times, while card and bank wire transfers will usually take days to process.

    Can You Make Money Trading Forex With Global Prime?

    It is possible to make a profit when trading forex with Global Prime based on my research. The brand offers tight spreads, reliable tools and some useful features like Autochartist.

    However, the risk of losses is also high. This is especially true for traders registered with the global entity, as negative balance protection is not provided.

    Article Sources

    Global Prime Website

    Global Prime – Account Types

    FMGP Trading Group Pty Ltd (trading as Global Prime) – ASIC License 

    Gleneagle Securities Pty Limited (trading as Global Prime FX) – VFSC License

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