Global Prime is a division of Gleneagle Securities. Our Australian Business Number is 74 146 086 017.
Our address is suite 604 35 Grafton St Bondi Junction NSW 2022, Australia and our phone number is (+612) 8379 3622.
Global Prime is an international foreign exchange broker that caters to retail, wholesale and institutional clients. Global Prime provides prices, and provides accessibility for clients to fill trades. Global Prime gives our clients access to major and minor world currency pairs and precious metals.
Global prime can be contacted by phone on +612 8379 3622 or email at firstname.lastname@example.org or via live chat on the website.
Getting in contact with support is very simple. Live Chat is always accessible on the bottom right of the screen. You can also contact us by email – email@example.com or by phoning +612 8379 3622.
We certainly do. Nothing gives us more pride and joy than you recommending us to your family, friends or colleagues.
For every successful friend you refer to us, receive AUD$100 credited to your trading account. To find out more about the terms and conditions, click here.
Global Prime takes a general commission of $7 per 100k (1 lot) traded round turn. This translates to .70c for .1 lots and .07c for 0.01 lots. Commission can be negotiated for clients trading more than 1000 lots per month.
Once an order has been placed, you need to navigate to the ‘Terminal’ window and click the ‘Trade’ tab. Your commission charge will be seen near the bottom right. Bear in mind that commission charge is dependent on your lot size, and the currency your account is trading in.
Live MT4 trading accounts never get closed in general. If there are no new trades on a demo account for 30 days, the demo account will be auto-closed.
To open an account with Global Prime FX we require identity documents (ID), which you will be prompted to provide when completing the online application process:
Please make sure that the forms you submit are correct and not missing any vital information, as any mistakes will delay our processes.
If you need to update you account information please complete the Change of Details Request Form and send the completed form to firstname.lastname@example.org so we can update your details.
Global Prime is not able to accept clients from Burma, Côte d’Ivoire, Democratic People's Republic of North Korea, Democratic Republic of the Congo, Eritrea, Former Federal Republic of Yugoslavia, Iran, Iraq, Lebanon, Liberia, Libya, Japan, United States of America, Somalia, Sudan, Syria, New Zealand and Zimbabwe.
No, Global Prime does not offer swap free accounts.
No, Global Prime does not offer clients an Islamic swap free account because we do not have an account that complies with Sharia Law, particularly with regard to the giving and receiving of interest.
The minimum deposit for a Global Prime account is AUD200 or foreign currency equivalent.
Your funding account number is the 6 digit number starting with 9. This number is also your MT4 account number. This number will be provided to you once your account is approved and funding instructions have been sent to you.
When a client requests funding of an account through credit card, requests are able to be processed within minutes. Sometimes we need to look closer at a credit card transaction and it may be delayed until we are sure the transfer has been made with an approved credit card.
Withdrawal requests can be made from inside the Client Portal.
When funding an account via credit card, Global Prime requires only the first 6 and the last 4 digits of your credit card. The credit card should have your full name on it and it should match the name on your account. Your full number is only required through a secure portal, later in the process. Once your card is registered any further payments can be done through the secure portal.
Global Prime accepts Bank Wire transfers in either AUD, USD, GBP, EUR, SGD, CAD.
Global Prime also accepts credit card deposits in AUD, USD, GBP ,EUR, SGD and CAD. Bank Wire transfers are generally free unless processed via an Intermediary Bank, in which case we have no control over the charges. Funds deposited via credit card will be refunded back to your card up to the amount initially deposited should you request a withdrawal, as long as the initial deposit was within 6 months. Profits will be then sent to your bank account via Bank Wire. Credit card deposits can be sent to your account very fast, whilst Bank Wire transfers take between 1-5 business days.
Generally, international bank withdrawals take 1-5 business days. Some of our clients receive their international withdrawals within hours! It all depends on the receiving bank. We process all withdrawals and deposits within 24 hours and usually even quicker.
If you wish to change your nominated bank account you, you can log into the client portal to do so or alternatively you can complete a change of details form. Bear in mind, the new nominated bank account must have the same name as your Global Prime account. You can also add a new bank account to your Global Prime account by following the same process.
FIX (Financial Information exchange) protocol is used by many professional traders providing them with real-time communication between client, trader, investment fund or broker and liquidity provider. The API gives clients complete control over data which is sent and received without needing intermediary software.
Why Use a FIX API
When utilising FIX API, you are getting a high-speed connection directly with trading servers. You don’t have to go through third party programs such as MetaTrader 4. Generally, traders will see latency as low as 1 millisecond.
Flexibility of FIX
A client may choose FIX API over other financial platforms and interfaces because other programs have limited functionality. There are also limitations from existing interfaces such as the need for two or more ticks to fill an order. This creates many problems for traders who are working with high-frequency strategies and need the fastest trades possible.
Global Prime offers a FIX API connection for its clients. By using the FIX protocol, you can customize your trading experience to suit your specific trading strategy. To find out more about a FIX API email email@example.com or contact us via chat for more information.
Only one password can be created for a single account. It is advised that individuals who wish to create an account, create it solely under their name.
Any and all trading strategies are allowed. However, we do not recommend trading news or tick scalping strategies at Global Prime. You are more than welcome to trade them here but in our experience these don’t work through MT4 with our liquidity setup.
Global Prime FXs live server address is live.globalprime.com.au and our demo server address is demo.globalprime.com.au
Margin Level % = Free Equity / Used Margin * 100
The Margin Level % is the ratio of Equity to Used Margin represented as a percentage. This percentage is very important as it shows how much equity is available to cover the used margin.
Global Prime has partnered with several VPS providers.
Margin Required = Volume in Lots x Contract Size x Margin Requirement
Contract size for FX 100,000
Assume you have a EUR MT4 Account with 1:100 leverage. You want to enter a 1 lot sell trade for AUDJPY:
1 Lot x 100,000 x 1% = 1,000 AUD Required Margin
Because AUD is the base of the currency pair, we need to convert to EUR by dividing by the EURAUD rate, which is 1.59106 for example:
1,000 ÷ 1.59106 = 628.51 Required Margin in EUR
Margin Required = Volume in Lots x Contract Size x Price x Margin Requirement
When trading Gold and Silver, the contract size is 100oz and 5,000oz respectively.
Assume you have a CAD MT4 Account with 1:100 leverage. You want to enter a 1 lot sell trade for XAUUSD at 1,364.63:
1 Lot x 100 x 1,364.63 x 1% = 1,364.63 Required Margin
Note that maximum leverage for precious metals is 1:100. Therefore, margin requirement will be no lower than 1%.
Because XAUUSD uses USD as the margin currency, we need to convert it. This can be done by multiplying 1,364.63 by the USDCAD rate, which is 1.30410 for example:
1,364.63 x 1.30410 = 1,779.61 Required Margin in CAD
Your Used Margin grows by each trade’s required margin. In MT4, all required margins are according to the base currency of the currency pair traded. The used margin is then converted to your account denomination.
In MT4, Used Margin is referred to simply as Margin.
Assume you have an AUD MT4 Account with 1:100 leverage and you have 3 buy trades for AUDUSD, XAUUSD and GBPAUD:
Buy 1 Lot AUDUSD
1 Lot x 100,000 x 1% = 1,000 Required Margin
Because AUD is the base of the currency pair, no conversion is required since your MT4 account currency is AUD.
Buy 1 Lot XAUUSD, with current market price of XAUUSD at 1,368.61
1 Lot x 100 x 1,368.61 x 1% = 1,368.61 Required Margin
Because XAU is the base of the pair, we need to convert it. This can be done by dividing 1,368.61 by the AUDUSD rate, which is 0.75029 at the time of opening the trade:
1,368.61 ÷ 0.75029 = 1,824.11 Required Margin in AUD
Buy 1 Lot GBPAUD
1 Lot x 100,000 x 1% = 1,000 Required Margin
Because AUD is the term of the currency pair, we convert to AUD simply by multiplying by the GBPAUD rate, which is 1.72510
1,000 x 1.72510 = 1,725.10 Required Margin in AUD
By summing all the required margins you will have a Used Margin of 4,549.21.
To get the Margin Level in MT4, assuming your equity hasn’t changed from the original balance, divide 10,000 by 4,549.21 and multiply by 100 to get:
10,000 ÷ 4,549.21 x 100 = 219.81%
No, Global Prime does not offer negative balance protection. If the client goes into a negative balance, that needs to be covered by the client.
If you receive an email from Global Prime that says there was an electronic verification failure, don’t worry as this is often the case for non-Australian residents. The identity documents (ID) which you will be required to provide will be prompted when completing the online application process. As long as your identity documents (ID) has been uploaded successfully, our accounts staff will get back to you. Bear in mind that whilst our support staff are available 24/5, our account staff operate during Australian business hours. They will respond as quickly as possible.
Our spreads come from our liquidity providers. In general, spreads are tighter during higher volumes of liquidity. Spreads may become wider when there is a lack of liquidity or high volatility during news announcements.
Global Prime offers MT4 on Windows only. We recommend MacOSX users install software like Parallels or Apple Boot Camp to install Windows and then run MT4 on that Windows installation or use PlayOnMac to install on OSX. Note that PlayOnMac user experience of MT4 may differ due to MT4 not being native to OSX.
Standard lots = 1 lot = 100,000 units of base currency
Mini Lots = .1 lots = 10,000 units of base currency
Micro lots = .01 lots = 1,000 units of base currency
Global Prime offers an industry standard leverage of 1:100 on accounts opened at a minimum of $200AUD or foreign currency equivalent. Please note that leverage greater than 1:200 will not be approved under any circumstances.
Yes, in order to access our liquidity you will need to install Global Prime's MT4. You can download the software after opening a demo or live account.
Our company details are as follows:
Global Prime Pty Ltd, ABN 74 146 086 017. Global Prime is ASIC (Australian Securities and Investment Commission) regulated and holds an Australian Financial Services License (AFSL) to carry on financial services business in Australia, limited to the financial services covered by its AFSL no.385620.
Our MT4 servers are GMT +2 or GMT +3 depending on New York DST (Daylight Savings Time). This ensures a 5 daily candle week.
Global Prime offers FIX API connectivity to connect traders and systems to our liquidity.
We look to open FIX API for clients that have plans to trade more than 20m in volume per month.
Our MT4 servers are GMT +2 or GMT +3 depending on New York DST (Daylight Savings Time). This ensures a 5 daily candle week on the charts.
Our Market Open and Close times are as follows:
Market Open = 00:02 MT4 Server Time
Market Close = 23:58 MT4 Server Time
Yes, you are allowed to use any and all EAs (Expert Advisors) available by third party providers. We do not restrict the use of any strategy or EA. However, we do not advise on the installation nor the use of particular EAs The only aspect of EAs we do restrict is the amount of order modifications allowed per day. We request that EAs or scripts do not exceed 5,000 order modifications per day.
If a previous installation of MT4 failed to work on your PC we suggesting reinstalling MT4 into another directory in your PC. For example, if the default directory path is c:/programsx86/global, you can change it by clicking “Settings” in the installation setup and create a new path by creating a new folder in the previous directory, for instance c:/programsx86/global/globalprime. Alternatively, you can completely uninstall MT4 via Control Panel > Programs > Uninstall Programs > by selecting MT4 there and following the prompts and then run the MT4.exe again.
Place trades on MT4 by clicking ‘New Order’ or by double-clicking the symbol you want to trade on the ‘Market Watch’ window. Alternatively, on the window for the pair you want to trade you can right click and turn on One-click Trading. This type of trading opens up the ‘Order’ and allows you to place a trade from a more convenient location. Using the One-click trading option prevents setting up ‘Pending Orders’.
If you just wish to change your current password, navigate to Tools > Options > Server and follow the prompts as required. Alternatively, you can access LiveChat on our website and talk with one of our staff to assist in having your password reset.
Conducting a Ping test is relatively easy:
To view your account balance in MetaTrader4, simply open up the program and hit ‘View’ and click on ‘Terminal’, alternatively you can just use the ‘Ctrl-T’ key press. The terminal window should open up near the bottom of your screen. In the ‘Trade’ tab you’ll see your Balance, Equity, Margin, Free Margin and Margin level.
The Global Prime MT4 platform records all trading activities in the ‘Account History’ tab of the trading Terminal. It is usually located at the bottom of your MT4 screen. From that tab you can see real-time profit and loss, margin availability, account balances, swap costs and all historical transaction details. These details can all be saved on your PC as records without logging back into the MT4 program by right clicking on any of the orders and saving the report.
Open MT4 and go to “View > Navigator” and hover your mouse pointer over your account. A box will pop-out displaying your leverage (e.g. 1:100)
You can keep your positions open for as long as you deem fit, or as long as your margin stays within acceptable levels on the MT4 platform.
Unfortunately, the trading platform time cannot be changed as it is pegged to New York 5pm close. However, you can download local time indicators.
To find the swap rates for currency pairs go to the ‘Market Watch Area’, right click and however over ‘Symbols’. A new window will open up that shows all available currency pairs, highlight the pair you wish to find the swaps for and click properties. The swap information and other relevant data should pop up in a new window.
To view all currency pairs in MT4 simply right click on the market watch and then choose ‘Show All’. Global Prime FX’s MT4 platform has over 40 currency pairs to trade.
Normally, an ‘invalid’ message appears when your login or password information is incorrect. Things to check would be your login, password or the server address. This message can also appear for Demo accounts, and, are usually caused by inactivity in the Demo account. If you have forgotten your password please get in touch so we can help get you connected again.
Our standard execution speed can differ depending on your location and distance to the Equinix Server in New York. On average it is about 100 milliseconds. If you use our VPS, this execution time can be reduced to 1 to 5 milliseconds.
When a trader takes a ‘long’ position, the trader is placing a ‘Buy’ order, likewise, when a trader takes a ‘short’ position, the trader is placing a ‘Sell’ order. For example, if you go ‘long’ on an AUD/USD you are buying AUD in anticipation that it will rise against the USD, conversely, if you go ‘short’ on AUD/USD you are selling AUD in anticipation that it will lower against the USD.
Gold and Silver trade from 01:00 to 23:59 (GMT+2)
The Forex Market has participants from retail, wholesale and institutional sectors. The largest contingent of participants starts at the top with the Central Banks, Commercial and Investment Banks, it then is followed by multinational corporations, money managers, retail marketers, retail ECNs and finally retail traders. There are a lot of participants in the forex market!
As we use MT4 as a trading platform, our MT4 automatically ‘Margin Stops’ trades when the free margin falls below 100%. A ‘Margin Call’ occurs at 120% of margin and is indicated by red font in the platform. Be wary of trading when going into a news announcement as your margin could be in danger.
Global Prime does not recommend news trading on our liquidity. On limit orders such as buy stops, sell stops, take profits, stop losses etc the order will be filled at whatever price is being offered by our LPs. This could mean severe slippage on high impact data announcements where price gaps through a limit order, with the next available price being X pips away.
As Global Prime uses the MT4 Platform, our rollover occurs 00:00 MT4 Server Time, which is NY 17:00 GMT +2 (+3 DLS). At this time, market volatility can be very high and spreads will increase. It is important to understand the risks of higher spread and slippage around rollover.
The major Forex pairs tend to be the most liquid and most popular pairs to trade on the Forex market. If you are after the more liquid pairs they would be: AUDUSD, EURGBP, EURJPY, EURUSD, GBPUSD, NZDUSD, USDCAD, USDCHF and USDJPY.
Any slippage that occurs can be due to:
Forex trading involves a high level of risk and you should ensure that you understand the risks involved as certain financial products may not be suitable to everyone. Trading in margin foreign exchange and derivatives carries a high level of risk and you may incur a loss that is far greater than the amount you invested.
Feel free to get in touch with us to find out more about our service.