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Global Prime Review 2024

Written by
Krisztián G.
Fact checked by
Updated
3d ago
Key data
Fees
Safety
Deposit and withdrawal
Account opening
Mobile app
Desktop platform
Product selection
Regulated and trusted. Tested via live trading.
10,300 people chose this broker
Not available in United States; see best alternatives

Why choose Global Prime

Global Prime is a global forex broker that was founded in 2010.

It offers low forex fees and free deposits and withdrawals. It also has a quick and easy account opening process. Global Prime is considered reliable because it is regulated by the top-tier ASIC.

On the negative side, it offers limited education services for learning, and you can only trade forex, CFDs and crypto. Also, ASIC provides no investor protection for clients.

BrokerChooser gave Global Prime a 4.2/5 rating based on analyzing 600+ criteria and testing via opening a live account.

BrokerChooser score
4.2 4.2 /5
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74-89% of retail CFD accounts lose money
Pros
  • Low forex fees
  • Easy and fast account opening
  • Free deposit and withdrawal
Cons
  • Slim product portfolio
  • Limited educational tools
  • No investor protection

Global Prime at a glance

🗺 Country of regulationAustralia, Vanuatu
🛡️ Negative balance protectionYes
💰 FX commission per lot$3.50 commission per lot per trade
💰 EURUSD spread0.1
💰 Inactivity fee chargedNo
💰 Withdrawal fee$0
💰 Minimum deposit$0
💵 Available base currenciesAUD, CAD, EUR, GBP, JPY, SGD, THB, USD
💵 Conversion fee of deposits in non-base currencyExchange rate received from liquidity providers plus a mark-up. We used the EURUSD trading fees for the calculation.
💳 Deposit with bank cardAvailable
👛 With electronic walletAvailable
🕖 Time to open an account1 day
🎮 Demo account providedYes
💵 Number of currency pairs56
🛍️ Products offeredForex, CFD, Crypto
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Fees

Score: 4.1/5
Global Prime has low forex fees. It doesn't charge a fee for withdrawals and there's no inactivity fee.
Pros
  • Low forex fees
  • No inactivity fee
Cons
None

We compared Global Prime's fees with two similar brokers we selected, TMGM and XM. These competitors were selected based on objective factors like products offered, client profile, fee structure, etc. See a more detailed comparison of Global Prime alternatives.

Low FX fees

Global Prime charges a forex commmission: $3.50 commission per lot per trade. Spread costs come on top of this, e.g. the EUR/USD spread is 0.1.

Broker
EURUSD spread
FX commission per lot
Global Prime
0.1
$3.50 commission per lot per trade
TMGM
0.1
$3.50 commission per lot per trade
XM
0.1
$3.50 commission per lot per trade on XM Zero accounts
Global Prime forex spreads and commissions

Low index CFD fees

All index CFD fees are built into the spread. The spread for S&P 500 index CFDs is 0.4.

Broker
S&P 500 CFD spread
Global Prime
0.4
TMGM
2.3
XM
0.5
Global Prime index CFD spreads and commissions

No inactivity fee, low withdrawal fee

There are no deposit, account or inactivity fees. There is no fee for withdrawing funds using credit/debit cards or electronic wallets. However, you should calculate with a $20-30 bank processing fee if you use withdrawal by bank transfer to outside Australia.

Broker
Inactivity fee
Withdrawal fee
Global Prime
$0
TMGM
$0
XM
$0
Global Prime inactivity, withdrawal and other fees

Safety

Global Prime is regulated by several financial authorities, including the top-tier ASIC in Australia. On the negative side, there is no investor protection.
Pros
  • Regulated by ASIC
Cons
  • No investor protection
  • Not listed on stock exchange
Read more

Deposit and withdrawal

Score: 4.4/5
Global Prime's depositing and withdrawal services are great. Many options are available for moving your money in and out, and they are all free of charge.
Pros
  • Credit/Debit card available
  • No deposit fee
  • Several account base currencies
Cons
  • Few minor account currencies available
Read more

Account opening

Score: 5/5
The account opening process at Global Prime is user-friendly and fully digital, with no minimum deposit required. It was also very quick, as our account was approved within a day.
Pros
  • Fast
  • Fully digital
  • No minimum deposit
Cons
None
Read more

Mobile app

Score: 3.3/5
Global Prime has a great mobile trading platform, provided by MetaTrader 4. It is well-designed and user-friendly, but lacks a more secure login.
Pros
  • User-friendly
  • Good search function
  • Price alerts
Cons
  • No two-step (safer) login
  • No Touch/Face ID login
Read more

Desktop platform

Score: 2.8/5
Global Prime uses the MetaTrader web trading platform. It is highly customizable and has a clear fee report, but its design is outdated and it lacks a two-step login and price alerts.
Pros
  • Clear fee report
  • Good customizability (for charts, workspace)
  • Order confirmation
Cons
  • No two-step (safer) login
  • No price alerts
Read more

Product selection

Score: 2.2/5
At Global Prime, you can trade only forex, CFDs and cryptos. This means that many popular asset classes, like real stocks and ETFs, are not available.
Read more
“I recommend Global Prime for forex and CFD traders who are familiar with the MetaTrader trading platforms.”

FAQ

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Author of this review

Krisztián Gátonyi

Method-Man | Forex • Market Analysis • Stock Market

I have 15 years of experience in proprietary trading, mainly in the interbank currency market as a foreign exchange risk manager. I'm actively involved in reviewing the 100+ brokers listed on our site. I personally open accounts with real money, execute trades, test customer services. I hold an MSc in International Business from the University of Middlesex. My purpose is to help people find the best investment provider.

Everything you find on BrokerChooser is based on reliable data and unbiased information. We combine our 10+ years finance experience with readers feedback. Read more about our methodology.

Visit Global Prime 74-89% of retail CFD accounts lose money

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