Global Prime Review

Global Prime is a brokerage firm registered in Australia and regulated by the ASIC. With a history of 10-15 years, the broker offers a diverse range of trading instruments, including currency pairs, indices, commodities, metals, energy, cryptocurrencies, stocks, and bonds.

There is no minimum deposit requirement, allowing flexibility for traders. The broker provides a maximum leverage of 1:100 and offers tight spreads to enhance trading conditions. Trading is facilitated through industry-standard platforms like MetaTrader 4 (MT4) and TradingView. Global Prime supports multiple deposit and withdrawal methods, including PayPal, Mastercard, Visa. There have been instances of fraud complaints exposure, which is something potential traders should consider.

Regulatory Status

Global Prime is currently regulated by the Australian Securities and Investments Commission (ASIC) and holds a Market Making (MM) type license with license number 385620.

Market Instruments

Currency pairs, indices, commodities, metals, energy, cryptocurrencies, stocks, bonds .....Global Prime allows clients to access a huge range of trading markets. Therefore, both beginners and experienced traders can find what they want to trade on Global Prime.

Spreads and Commissions

In Global Prime, the spreads are shown in a separate page and the commissions are 7 USD per lot. We can see that the minimum spreads for major forex pairs are 0.0 pips.

Account Types

Demo Account: Global Prime provides a demo account that allows you to try out the financial markets without the risk of losing money.

Live Account: Global Prime only provides one type of ECN account, the commission is 7 USD per lot, no minimum deposit and spreads are tight.

Trading Platforms

When it comes to trading platforms, Global Prime provides MT4 and Tradingview, both are among the most popular platforms in the world. The clients may choose the one they prefer freely.

Leverage

The maximum leverage offered by Global Prime is only 1:30 or 1:100, which may seem too low to you. In reality, those leverage of up to 1:500 or even 1:1000 are all from unregulated or offshore regulated brokers, and as we know, offshore regulation is much less strict regulation. For brokers that are formally regulated by the major regulatory bodies, they can only offer leverage of 1:30 or 1:50 at best, which is sufficient for the novice Forex trader. Lower leverage reduces the potential gains on trades, but more importantly, it reduces much of the risk. We recommend that you always keep your account risk at 2% or less.

Deposit & Withdrawal

In terms of deposit and withdrawal, like many good brokers, Global Prime provides a detailed form with important information about currency, payment method, minimum amount, arrival date, fees, etc.

Educational Resources

A series of educational resources is available at Global Prime, such as autochartist alerts, economic calendar, market opportunities, chrome extender, VPS, autotrade, pip calculator, etcetera.

Customer Support

Global Prime offers comprehensive customer support tailored to meet the needs of its diverse client base. Here are the key details regarding their customer service offerings:

• Languages Supported: English and Portuguese, accommodating a broad range of clients.
• Service Hours: Available 24 hours a day, 5 days a week, aligning with global forex market hours.
• Email Support: Clients can reach out for assistance via email at support@globalprime.com.
• Phone Support: For direct communication, clients can call +61 (2) 8379 3622.
• Physical Addresses:
• Australia: Global Prime PTY Ltd (ABN 74 146 086 017), Suite 504, 35 Grafton Street, Bondi Junction, Australia.
• Vanuatu: Global Prime FX (Company Number 40256), Govant Building, BP 1276, Port Vila, Vanuatu.
• Social Media Presence: Global Prime maintains an active presence on several social media platforms including Facebook, LinkedIn, YouTube, and Twitter.

FAQs

Is this broker well regulated?

Yes, it is currently effectively regulated by ASIC.

What trading instruments are available?

You can trade a variety of instruments including currency pairs, indices, commodities, metals, energy products, cryptocurrencies, stocks, and bonds.

What is the minimum initial deposit required to open an account?

There is no minimum deposit required to start trading.

What is the maximum leverage offered?

The maximum leverage offered is 1:100.

General Information & Regulation

Spread Co Limited is a limited liability company registered in England and Wales with its registered office at 22 Bruton Street, London W1J 6QE. Company No. 05614477. Spread Co is an online spread betting and CFD broker specialising in forex, commodities, equities and indices. Spread Co Limited is authorised and regulated by the Financial Conduct Authority with regulatory license no. 446677.

Market Instruments

With a Spread Co account, investors can trade on a wide range of global markets, from major indices and global equities to foreign exchange currency pairs, commodities, crude oil, precious metals, and bitcoin, to meet a wide range of investment needs.

Account Types

Spread Co has two different types of accounts, the spread trading account and the CFD account. Minimum deposits depend on account types. To open a spread trading account, traders are required a minimum initial deposit of £200 and £250 for a CFD account.

Demo Account

Spread Co does offer a demo trading account for beginners to practice forex trading in a 100% risk-free environment. The Spread Co demo account does not have a specific expiry date. Some features of the Spread Co demo accounts include the following:

• Practice trading with £25,000 virtual funds

• Develope you strategies with no risk

• Learn how risk management tools work

Leverage

Leverage level offered by Spread Co do depends on the regulatory requirement you trading with and the brokerage operates. This applies due to various safety measures applied to eliminate the risks involved while trading, specially for retail traders.

With Spread Co, LverageTrading leverage vary by different instruments:

• 1:30 for Forex currency pairs,

• 1:10 for commodities

• 1:20 for indices

• 1:5 for enquities

Spreads & Commissions

Spread Co offers commission-free trading, and the broker only takes its cut from the spread. EURUSD spreads start from 0.8 pips, 4 pips for US Crude Oil, 4 pips for Gold, and 40 pips for Bitcoin/USD.

There are no other fee indicated for Spread Co, but traders are advised to verified fees pertainning to the following：

• Account maintenance and management

• Inactivity fees and Conversion fees

Trading Platforms

What Spread Co offers traders is not the MT4 trading platform, which is currently the most popular one, but its in-house developed online trading platform. This online trading platform requires no download and allows traders to customize their trading experience for experienced traders and novice traders. Anyway, lack of widely used MT4 & MT5 trading platforms really a drawback for such a big broker.

Deposit and Withdrawal of Spread Co

Spread Co allows traders to deposit and withdraw funds from their investment accounts via the following methods:

• Credit Card;

• UK Credit Card;

• Bank Transfer;

• Skrill

Spread Co does not charge traders any fees for withdrawals or deposits . Spread Co has no limit to how much you can fund via the platform, but the maximum amount which it can accept for your first payment is GBP500 via the phone. Successfully authorized payments will be available immediately.

Spread Co suppports the following deposit currencies when deposits and withdrawals are made to end from the trading account: GBP, USD, EUR.

Customer Support

Customer services are available in several options: email, whatapp, Live chat, and telephone.

Here are some contact details:

Telephone: 0800 078 9398

Email: info@spreadco.com

Or you can also follow this broker on some social media platforms, such as Facebook, Twitter, and Youtube.

Educational Resources

Spread Co provides clients support through relationship managers that provide assistance as well as providing eucation. The broker provides educational library with multiple guides and video updates along with the market overview, platform, news and economic calendars.

Pros & Cons

Frequently Asked Questions

Is Spread Co legal ？

Yes, Spread Co is a legal broker that adheres to rules and regulations stipulated by the FCA.

Does Spread Co offer a demo account？

Yes, Spread Co does offer a demo account that is valid for 2 weeks.

What is the maximum trading leverage offered by Spread Co？

The maximum trading leverage offered by Spread Co is up to 1:30.

What are the deposit and withdrawal methods supported by Spread Co ？

Payment methods supported by Spread Co include Bank Wire Transfer, Credit/Debit Cards, Skrill.

What is the overall rating for Spread Co ？

The overall rating for Spread Co is 7.06/10 based on its License Index, Business Index, Risk Management Index, Software Index and Regulatory Index.