Rating Index

Pros

Regulated by ASIC, VFSC, and FSA, ensuring a level of trust and security for traders.

Offers some of the tightest spreads in the industry, starting at 0.00 pips on its commission-free account.

No minimum deposit is required, making it accessible for both beginner and experienced traders.

Cons

High leverage of up to 500:1 can pose significant risks for inexperienced traders.

Charges fees for access to comprehensive educational courses and materials, which may not be ideal for all traders.

Limited selection of tradable assets compared to larger international brokers.

GLOBAL PRIME broker Accounts

Global Prime Account Type

Global Prime offers a single ECN trading account type designed for all types of traders, including individuals, corporations, and trusts. This account is tailored for those who demand high-quality trading conditions. Here are the key features of the Global Prime account:

Minimum Deposit: AU$ 200 (approximately USD 200).
Leverage: Up to 1:200.
Spreads: Start from 0.0 pips (raw account) and from 0.9 pips (standard account).
Commission: $7 per round turn lot for the raw account; $0 for the standard account.
Minimum Trade Size: 0.01 lots.
Maximum Trade Size: Up to 1,000 lots.
Stop Out Level: 20% for the raw account and 50% for the standard account.
Trading Instruments: Access to over 150 markets, including forex, indices, commodities, and cryptocurrencies.
Demo Account: Available for practice with virtual funds.

Global Prime Broker Account Opening Process

Opening an account with Global Prime involves a straightforward three-step process:

Sign Up:

Visit the Global Prime website.
Click on the “Sign Up” button.
Enter your email address and create a strong password.

Verification:

After registration, you will need to verify your identity.
Provide proof of identity (passport, drivers license) and proof of address (utility bill, bank statement).

Fund Your Account:

Once your account is verified, you can fund it using various payment methods, including credit/debit cards, PayPal, Neteller, Skrill, and bank wire transfers.
There are no deposit or withdrawal fees.

The entire registration process is designed to be completed quickly, typically taking less than 4 minutes to finish the initial sign-up.