Worked example
Practising on Global Prime's numbers
This is an exercise sheet, not a review. We are going to take three things that Global Prime publishes — a spread, a ladder of account types and a list of licences — and turn each of them into something you can do arithmetic with. By the end you should be able to repeat the whole exercise on any firm you come across, which is the actual skill being taught.
The figures we are working from
Nothing below is our estimate. Where a firm has not published something, or we could not read it on a source we trust, the box says so instead of guessing — a habit worth copying when you build your own broker notes.
Exercise one — turn the spread into money
Global Prime does not publish a EUR/USD spread we were able to verify, so there is no honest arithmetic to do on this page. Do not substitute a number you read on a comparison site: an unverified spread quietly becomes an unverified cost, and then an unverified plan. Use one of the other examples on the practice index for this exercise and come back to this file for the account ladder below.
Exercise two — read the account ladder
Account tiers are a pricing structure dressed as a status ladder. Global Prime offers 2 rungs. Read them as a question — what does each rung ask of me, and what does it give back? — rather than as a set of prizes to climb towards.
- StandardThe entry rung. Whatever the published spread applies to, it is almost always this one — so this is the rung your arithmetic above describes.
- RawA higher rung usually trades a tighter spread for a commission, a larger deposit, or a status test. Convert both pricing models to money per lot before you decide either is cheaper.
Account names as published: Standard, Raw. Platforms listed: MT4, MT5, cTrader, TradingView.
Exercise three — what this licence list means for you
A long licence list is not automatically a good sign. What matters to a beginner is a narrower question: which entity would hold my money, and who supervises that entity? Those are often not the same as the impressive name at the top of the list. Here are Global Prime's lines, each with a plain reading.
| Regulator | Entity on the register | Number | What that means for a beginner |
|---|---|---|---|
| ASIC · Australia | FMGP Trading Group Pty Ltd (ABN 74 146 086 017) | AFSL 385620 | a top-tier regulator: compensation scheme, capital rules and a public register you can search yourself |
| VFSC · Vanuatu | Gleneagle Securities Pty Limited, trading as Global Prime FX (company number 40256) | 40256 | an offshore registration: a company exists and pays a fee, but expect little practical recourse from that entity |
1 of these line is top-tier — held by FMGP Trading Group Pty Ltd (ABN 74 146 086 017). If you are onboarded to a different entity than those, the protections attached to the top-tier line are not yours, however prominently the regulator's initials appear in the marketing. 1 line is offshore registration; treat those as a company address rather than as supervision.
The record behind these numbers
- Global Prime is a trading name of FMGP Trading Group Pty Ltd, which holds Australian Financial Services Licence 385620 and gives its address as Level 10, 627 Chapel St, South Yarra, Melbourne.
- A separate Vanuatu entity, Gleneagle Securities Pty Limited trading as Global Prime FX, is a registered Vanuatu company (number 40256) regulated by the VFSC.
- Global Prime's site states it cannot accept clients from a list of jurisdictions including New Zealand, Japan, Ontario and the United States.
- The broker markets raw-spread pricing from 0.0 pips with a commission and advertises no minimum deposit.
- Global Prime is known for publishing trade-receipt-style execution evidence to clients; the mechanics of that feature were not verified for this record.
What we could not verify
The following are unconfirmed and are deliberately left blank rather than estimated: segregatedFunds; negativeBalanceProtection; publiclyListed; spreadEurusd (advertised 'from' figure on the Raw account, not an independently measured average); minDeposit (advertised $0 on the broker's Australian site); founded (2010 from secondary sources); platform list not confirmed from a single primary page; typical EUR/USD spread (source only gave an advertised 'from 0.0' raw-account figure); negative balance protection. Confidence in this file overall: medium. When you build your own notes on a firm, keep a list like this one — the gaps are more useful than the figures, because they tell you what to go and check.
Run the same exercise on another firm
PipMentor does not rank brokers, does not award badges and does not tell you where to open an account. This page exists so the arithmetic you learn in the curriculum has real numbers to bite on.