Global Prime is a Forex and CFD brokerage based out of Australia. As such, it is highly regulated as Australian brokerages are, and highly capitalized as required.

Trading accounts

Global Prime offers only one type of live account but does of course offer a demo account option. This avoids the complexity of other brokers who offer various tiers of pricing and the like. Global Prime offers the ability to negotiate higher leverage levels based upon approval. That being said, it’s pretty straightforward as one account gives you access to all of their markets.

The company

Global Prime is an interesting amalgamation of several traders who were using Global Prime for institutional liquidity but were asked to expand its line of offerings. With that in mind, they decided to start working towards offering the same type of institutional liquidity that hedge funds and banks require to the retail crowd. With that being the case, they have attracted a lot of retail traders globally based on word-of-mouth alone.

Trading conditions

Initial deposit

The initial deposit at Global Prime is a straightforward AU$200. With that, it’s affordable for most traders around the world to get the access to institutional type liquidity and spreads without the barrier that has been the case in the past.

Spreads and conditions

Global Prime offers multiple markets to trade, including Forex, Indices, and Crypto. The spreads are extraordinarily tight, such as 0.3 pips on the AUD/USD pair, the 0.7 pips on the EUR/JPY pair, and 0.9 on the XAU/USD pair.

Leverage

Leverage at ICM varies depending on whether or not you are approved for higher leverage. As a general rule, it is 1:100 leverage that you will be dealing with, as there is a 1% margin requirement on indices and Forex. However, you can get as low as 0.5% margin necessary if approved.

Trading platforms

Global Prime uses the well-known MetaTrader ecosystem, using version 4. They also offer mobile versions of those as well, and multi terminal trading platforms also. Because of this you will find plenty of expert advisors to run on this platform, as it is the world’s largest ecosystem before trading currency and CFD markets. There is also MyFXBook auto trading available as well.

Payment methods

Global Prime allows features zero costs involved in funding or withdrawing funds in your account, although there may be international wire fees occurred if you choose that route. Visa, MasterCard, bank wire, Neteller, and a few others give you plenty of ways to transfer.

Extras

Global Prime offers a bit of research and information for traders, and a fairly decent blog area also. They do Commitment of Traders analysis, which can be useful for those looking to see where institutional money goes, and also features the area known as “The Daily Edge”, which gives you an idea as to how market conditions are shaping up. While not necessarily high education, it can give you some insight as to where the markets are heading.

Global Prime isn’t necessarily going to cater to the beginning trader although they do have some basic information. Quite frankly, if you are looking to learn how to trade, you will be looking for less professional set ups and more retail based set ups.