Cyberion
New Member
Global Prime FX offers its clients just one live account type, a true ECN one. Of course, a free Demo account is also available, which is always appreciated by newbies. Also, for those unwilling to put much at risk and trade in high volumes, there are micro lots available for trade.
Global Prime FX provides foreign exchange trading services directly and through established relationships with some of the most trusted names in the industry. The brokerage’s head office is located in Sydney and it supports a number of offices worldwide.
The company behind the Global Prime FX brand is Gleneagle Securities, which holds an Australian Financial Services License and is regulated by the Australian Securities and Investment Commission (ASIC).
ASIC requires licensed financial services providers to meet certain capital requirements and to comply with various rules. As for the minimum capital requirement, Australian regulator requires forex brokers to hold at least $ 1 million in order to provide financial services legitimately. Furthermore, ASIC obliges license holders to keep client funds separated from company assets. Global Prime FX says on its website it holds client funds in a segregated trust account with Westpac Banking Corporation (Westpac is an AA rated Australian Bank).
Unlike many EU-based brokers, Australian ones are not covered by any compensation scheme. FCA-regulated brokerages, for example, fall under Financial Services Compensation Scheme (FSCS), which protects consumers up to £50,000 per person per company.
Global Prime FX provides foreign exchange trading services directly and through established relationships with some of the most trusted names in the industry. The brokerage’s head office is located in Sydney and it supports a number of offices worldwide.
The company behind the Global Prime FX brand is Gleneagle Securities, which holds an Australian Financial Services License and is regulated by the Australian Securities and Investment Commission (ASIC).
ASIC requires licensed financial services providers to meet certain capital requirements and to comply with various rules. As for the minimum capital requirement, Australian regulator requires forex brokers to hold at least $ 1 million in order to provide financial services legitimately. Furthermore, ASIC obliges license holders to keep client funds separated from company assets. Global Prime FX says on its website it holds client funds in a segregated trust account with Westpac Banking Corporation (Westpac is an AA rated Australian Bank).
Unlike many EU-based brokers, Australian ones are not covered by any compensation scheme. FCA-regulated brokerages, for example, fall under Financial Services Compensation Scheme (FSCS), which protects consumers up to £50,000 per person per company.
