Global Prime Pty Ltd. It is a consulting company in the sphere of finances and giving access to trading on the international market for clients. It was established in 2010. Since 2011 the range of services was widened and the broker started to work with citizens of Europe, CIS, and Asia. The company was established by a group of investors and traders. The initial specialization is a financial consulting and investments. Despite the fact that the main language of the website is English, in the list of customers, you can see citizens of CIS, China, and residents of Great Britain, as well as central and Western Europe.
What we know about the regulator is that the monitoring of the company’s activity is fulfilled by the ASIC commission. The license was obtained under the number 385620. It is active nowadays too, without the expiration date. At all venues, the broker has positioned itself as ECN-partner. This means that all transactions are processed in the interbank market and the broker does not interfere in the trading process, acting only as an account holder. This is beneficial for everyone, since the company has no interest in the customer’s deposit, and it is earning exclusively on spreads.
What are trading conditions given for Global Prime clients
The peculiarity of this company is that customers are offered to have only one account – the ECN, account, without any division into “standard” and “premium”. Spreads start from 0 points but differ depending on the category of the asset.
Basic trading conditions:
- The minimum deposit amount is $ 500;
- Size of spreads – from 0 points;
- Minimum lot size – from 0.01;
- Leverage – up to 1: 200;
- The number of trading instruments is about 100 (including 42 currency pairs).
Clients can count on free VPS-server. But only if their turnover per month is more than 20 lots.
The company ensures the stability of quotations since their supplier is the well-known holding Integral Development. Customer accounts are stored in the prestigious Australian bank, so the company does not have direct access to them. This reduces the risks of trading, as the final result will depend only on the skills of the trader. You can trade any category of assets, including indices, cryptocurrency, futures and more.
All clients have access to the PAMM investment program. It suggests that the deposit will be transferred to the management of an experienced trader of broker partners. The managing trader will make transactions, and the profit will be accrued to the client minus a small commission. This is beneficial because the process is fully automated. Of course, there are small risks of losing a part of the investment. But this is typical of trading in financial markets and the company does not hide the risks, informing potential clients of this.
In addition, you can use other tools of automated trading, myfxbook, as stated on the official website of the company.
How the support service of Global Prime is working
Evaluation of the Broker Advisory Service showed that the company was not able to ensure the effectiveness of the technical department at 100%. Customers are faced with the fact that they cannot get advice on a number of languages, including Russian, Chinese, Spanish, German. You may have to use a translator for communication.
You can contact managers by e-mail at [email protected] or by contact phone number. Also, online chat works.
The company is not inferior to its competitors as training material. On the official website, you can use the trading forecasts of experts of the company for free, subscribe to signals and analytics.
Real overviews of clients
Many of the current customers in the reviews describe the positive and negative factors of cooperation with Global Prime. For example, customers are unhappy with the terms of scalping trading. Scalping in trading is not allowed by using the Martingale method. All this can lead to the blocking of the account.
Assessment of activity
The key advantage of the company is that it works with ECN accounts, having a large selection of tools. But the service is not integrated to serve customers from many countries. The company also cooperates with the regulator, which has an ambiguous reputation. Islamic account is not available for customers. The affiliate program is not offered. However, a swap is charged for the transfer of transactions.
Global Prime has a narrow specialization for traders who trade in large volumes (from 20 lots per month) and need to enter international markets. The company has no advantages for beginner traders.