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Forex Trading

Global Prime uses a combination of the world's fastest tier-1 banks, non-bank market makers and ECNs to give super tight spreads across our range of Forex products.

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*Rated World’s #1 Forex Peace Army

Use Global Prime as your Forex broker

Foreign Exchange trading is our specialty. We have an institutional style trading setup, supported by 3 prime brokers and over 26 liquidity providers. This means you’ll be getting incredibly sharp pricing and excellent fills on your trades. What’s better is that you’ll be able to verify our performance with trade receipts.

We do this to support you, and to demonstrate that we don’t profit from your trading losses as the majority of Forex brokers do. Our goal is to help all of our clients succeed in the markets.

MT4 Platform

Trade receipts give you peace of mind we are with you, not against you

Spread & Order Book

Provides detailed data about the order book for easy analysis

  • Make smarter trading decisions
  • Trade like an insider, not a stranger

Trades Slippage

You'll be able to see and understand any slippage on the trade

  • Gain trading strategy insights
  • See how it impacts your portfolio

Tick Charts

Discover quotes across tiers before, during and immediately after the trade

  • Feel confident in your trades
  • Be confident that you got a great price

Fills & Liquidity Providers

Confirm your trade was sent to market and the liquidity provider who filled the trade

  • Know you're in good hands with us
  • Proof we are on your side!
 

Compare Our Account Features

Commission Free

Our new lowest fee model. Trade EURUSD from 0.4 pips round turn with no added commissions

Spreads + Commission

Traditional ECN fee model with spreads from 0.0 pips and $7/lot commission.

Spread From 0.4 Pips 0.0 Pips
Commission $0 $7 per round turn lot
Starting Deposit $200 $200
Platforms MT4, TraderEvolution, TradingView MT4, TraderEvolution, TradingView
Server Location New York New York
Execution speeds from 1ms 1ms
Micro lot trading(0.01)
100+ Markets 100+ Markets FX, Indices, Commodities, Digital Currencies, Shares, Bonds 100+ Markets FX, Indices, Commodities, Digital Currencies, Shares, Bonds
One Click Trading
Trading Styles Allowed All All
Order Distance Restriction None None
Suitable For All Traders All Traders

FOREX Trading Example

The gross profit on your rate is calculated as follows:

Forex Trading Chart

Opening Price

100,000 AUD x 0.71707 = 71,707 USD

Required Margin

100,000 AUD x 1% = 1,000 AUD

Closing Price

100,000 AUD x 0.72752 = 72,752 USD

Gross Profit on Trade USD

$1,045.00 USD

Opening the position

The price of the AUD against the USD (AUD/USD) is 0.71706 bid /0.71707 ask. You would like to buy 1 standard lot (AUD100,000) at 0.71707 ask.

You have 5,000 AUD balance and the leverage is 1:100

Closing the position

Three days later, the price of AUD against the USD rises up to 0.72752 bid/0.72754 ask.

Since you are in profit, you would like to close your position by selling 1 standard lot (AUD100,000) at 0.72752 bid.


Check our Market hours for open/trading hours across all of our products.

Instrument

EURUSD AUDUSD GBPUSD USDCAD USDCHF USDJPY

Minimum Spread

0.0 0.0 0.0 0.0 0.0 0.0

Average Spread

0.1 0.14 0.64 0.66 0.71 0.40
See All Average Spreads

Disclaimer: Spreads from ‘Trade Proofer’ monthly spread data September 2019 report.

Your questions, answered.

What does ECN mean? Right Arrow

Electronic Communications Networks or ‘ECNs’ are off-exchange execution venues which allow market participants to trade with a range of counterparties anonymously. They are the main trading venues for OTC markets such as Foreign Exchange and Metals.

This basically means ECNs provide the technology and venue for price makers aka ‘liquidity providers’ to distribute their liquidity. Price takers (traders) can see these prices and execute trades against them. The ECN is therefore responsible for prices/quotes and the execution of orders.

See our ECN page for a detailed overview of the Global Prime ECN offering.

What is forex? And how does it work? Right Arrow

Forex is the term used to describe the ‘Foreign Exchange Market,’ which is considered the most liquid financial market in the world. Trading forex involves buying one currency by exchanging it for another currency, the price of which is determined by supply and demand. Currency products are traded as pairs in which currencies are weighted against one another. For instance, AUD/USD is the Australian dollar weighted against the US dollar. If you were to buy 1 lot of AUD/USD you would be buying 100,000 Australian dollars by delivering the equivalent (roughly 71,000 in US dollars.)

What is Forex margin? Right Arrow

Trading a leveraged security means that you have access to far more buying power within the market then your actual balance would allow. Accordingly, a ‘down payment’ or ‘collateral’ of sort is required in order for us to provide you the leverage you wish to trade with. This ‘collateral’ is what is referred to as margin. See our margins here https://www.globalprime.com/trading-conditions/margin-leverage/#leverage.

What is the maximum Forex leverage offered? Right Arrow

We offer competitive leverage rates which are determined by the Global Prime entity you register with. See our leverage here https://www.globalprime.com/trading-conditions/margin-leverage/#leverage

What is an ECN? Right Arrow

An ECN broker provides a market for its clients to trade. This means it streams quotes from participants of the ECN and matches orders against these. It is therefore like a virtual exchange where trades and risk are transferred among participants of the ECN rather than being internalised by the broker.

What are the Forex market hours/trading times? Right Arrow

The Forex market trades almost 24 hours a day 5 days a week from Monday to Friday. The hours are 5pm ET/EDT (New York) on Sunday afternoon/evening to 4:59pm ET/EDT (New York) on Friday afternoon/evening.

What GMT offsets are Global Prime’s charts set to? Right Arrow

GMT +3 (DST) / GMT + 2 (non DST)

Do you offer Forex trading material? Right Arrow

Our in house experts post daily articles covering the markets. You can find this material at the following link: https://insights.globalprime.com/

What are your commissions? Right Arrow

We only charge commissions on FX and metals. Our commissions start at USD $7 USD per 1 lot round turn. We do not charge commissions on CFDs.

What platforms can I use to trade FX? Right Arrow

We offer the following trading platforms - MetaTrader 4, Trader Evolution and FIX API.

What is the average execution speed? Right Arrow

The average execution speed for FX is <25 ms.

What are the average spreads on FX? Right Arrow

Global Prime has some of the tightest Forex spreads in the world. You can find the average spreads across our range of Forex pairs here https://www.globalprime.com/trading-conditions/spreads/.

What is the maximum trade size I can execute on FX? Right Arrow

On FX pairs, the maximum lot size per trade that can be executed is 1000 lots.

What is the minimum trade size I can execute on FX? Right Arrow

The minimum trade size that can be executed on FX is 0.01 lots.

Read More +

What is forex trading?

Forex trading is when you buy and sell foreign currencies to make money. It is difficult to predict what will happen with the prices of these. People who do this are called Forex traders. They trade on predictions about the future movement of prices.

The currency market is the largest financial market in the world. It has an average daily volume of $1.9 trillion. It includes trading between banks, credit card companies and online foreign exchange brokers.

To understand the currency markets, traders use tools. One of these tools is a chart that shows what happened in the past and what might happen in the future. So, they can see if there are any patterns. These charts help them predict what will happen next in the market.

Forex traders also use money management strategies to know how much of their capital to risk or lose when trading. For example, a Forex trader may decide not to trade more than 5% of his total account on any one trade. There are many different strategies for managing risk in the Forex market.

Another key concept is leveraging, which means using borrowed money to make trades with greater amounts of capital than you have available. Most brokers offer limited leverage, and there is a maximum amount that a trader can use without special permission from his broker. With this strategy, traders can take advantage of price movements in the market. They use a certain portion of their money to buy currency, and if that trade works out well they have more money available for trading.

This is great when things are going according to plan, but it can also be disastrous if you do not manage your trades carefully.

How much money is traded daily on the forex market?

Many traders trade on the forex market. Every day currency traders trade almost $5 million each second. That is a lot of trading! A trader might decide to start with a couple hundred dollars or Euros in his account, and see how it goes from there.

What are the basics when it comes to Forex trading?

There are 6 basic forex strategies that work for most average traders.

Buy and hold strategy – This is a strategy where you buy one currency and then hold it without moving it for a long time. For example, if you think that Ireland will do well economically in future and its currency price will increase, you can buy Irish pounds with your dollars while they are cheap and then wait. Forex traders often use this buying strategy with currencies of countries where the economy is doing well.

Swing trading – This is the second basic forex strategy, which involves holding your position from 3 to 7 days at a time. Swing traders look for price swings in market trends to make their trades. If the trend is moving in a certain direction and then suddenly reverses, Forex traders can use that moment to make money with swing trading.

Scalping – This strategy includes many short-term strategies using several different positions over a few hours to increase your profit or reduce your loss. For example, a trader might open 5 positions in one minute at 5 minutes intervals.

Reversal strategy – This is another short-term trading strategy based on taking advantage of a currency's price reversal. For example, if you think that the prices are going to change and then they reverse direction, you can get into position quickly and then wait for the reversal to take place.

Technical analysis – This is a strategy that involves the study of supply and demand in an effort to predict trends, price fluctuations and movement based on volume. An example is if the daily trading volume increases, it may mean there is more interest or demand in one currency than another.

Global macro – This is a very popular strategy that involves looking at things happening in the world, like politics and interest rates. It also includes analysing how things are going outside the country where you live and how that will affect your currency trading.

Forex traders often use these strategies together to help them increase their profits.

Risks of Forex trading?

There are many risks for Forex trading, and that can include:

Risk of exchange rate changes. You can make profit on a trade one day and lose money the next. It is important to watch the volatility in an economy or market closely so that you do not get caught by surprise.

Risk of losing money with high leverage. If you buy foreign currency with a low leverage and the price goes up, your profits will also increase. Using higher leverage may be more risky if there is a market downturn.

Risk of not following the rules on stop loss levels and risk management. Every trader has a different amount of money they can lose before they quit. It is important to identify your risk level and manage it carefully.

Risk of losing all your money (risk management). If you decide to risk 1% per trade, like many Forex traders do, you could lose all your money if the price goes against you.

Risk of choosing the wrong risky Forex strategy. CFDs, like binary options, can be very risky if not used correctly.

Risk of making the wrong decision based on emotions or feelings. Many traders start off with a lot of confidence and then lose everything because they do not know how to control their feelings. It is important to try out new strategies before you start trading with real money.

How is the forex market regulated?

Most countries have laws and regulations that cover the Forex market. Some of them include:

In the United States, Forex traders need to get a license in most states. It is important to check with your state's regulatory authorities before starting any businesses that involve investing or trading. Most states accept forex as a commodity and require a license.

Brokers are usually required to report trades to the Commodity Futures Trading Commission (CFTC). The CFTC maintains records of all futures, including Forex transactions and makes them available for public viewing as required by the Dodd-Frank Wall Street Reform and Consumer Protection Act.

The Securities and Exchange Commission (SEC) requires that brokerages and dealers must report to them regarding OTC trades such as Forex. They also make reports of transactions available for public viewing on their website.

Financial regulators may ask a trader or company engaging in Forex activities to provide information about their activity. They usually ask questions like:

Who is providing the funding for the trading accounts?

What kinds of strategies are they using to manage risk?

Are their financial statements available for public viewing? Are they audited or reviewed by a registered accountant?

There are rules that apply to the different kinds of transactions in Forex. For example, people who buy and sell a currency pair on their own do not need a license to trade as long as they are using their own money. However, if they start making trades for other people or business entities, then they will have to get a license.

What is a forex trading account?

Forex trading involves the buying and selling of currencies. In a forex market, traders take positions on different currencies by opening an account with a Forex Broker. This trading account is referred to as a Foreign Exchange Trading Account or FET.

As with all investments, there are some risks involved in forex trading. The biggest risk is the actual financial risks involved, which in forex trading are referred to as price risks. Price risks are simply the fluctuations in currency prices that result from market changes and forces. In order not to make a loss on your foreign exchange trades, you must buy and sell at the profitable prices.

What are the best brokerages for beginners interested in trading forex?

There are a lot of Forex Brokers in the market today, and all claim to offer excellent services. But not all of these brokers really deliver. Because choosing the wrong foreign exchange company can lead to losing money or even losing your entire account balance, it is important you choose wisely before opening an account with any particular brokerage firm.

There are very many factors to consider when choosing a Forex Broker. Some of these factors include: Trustworthiness of the company, Types of services offered by the brokerage firm or institution, Cost and fees associated with different services provided by the broker, Regulated or unregulated status (or both).

What is automated forex trading?

Forex Automated Trading is a way of trading foreign exchange without having to be physically there at the time the trade was made. To do this, users need either computer software or an online platform from which they can execute Forex trades and monitor their accounts.

Automation also makes it possible for traders to trade multiple currency pairs at multiple times of the day.

For typical Forex traders, their personal comfort and schedule is usually an important factor in determining whether or not they will choose to trade this asset class. Some Forex investors have tight schedules and require flexibility in their investment time frame. Automated forex trading allows them to experience all of these benefits conveniently online from the convenience of their own home.

This form of trading also allows you the convenience of time to be able to manage your account when you are at work, school or doing anything important and not be stressed out with making any trades during a specific time slot. Automated forex trading is ideal when there is a big market news release or currency event coming up.

What do I need in order to start trading Forex?

You do not need much in order to begin trading Forex. All you will need is a computer and an Internet connection, which almost everyone has these days.

When placing trades, you can choose to utilise a manual or automated trading method.

Those who like having more choice will be happy to know that there are brokers that still offer things like dark pools and conditional orders in addition to all of the popular and convenient features typically provided.

How to choose a forex broker?

Traders should read reviews of brokers before they sign up for an account. There are many forex broker review sites online, it is best to choose one that shows which ones are licensed and if they have a good reputation in the Forex sector. It is important that the broker you choose has a lot of experience in this type of business.

The best way to hear about new Forex brokers is by asking friends and relatives who are also traders if they have heard something good or bad about any particular Forex broker. You can use social media such as Facebook or Twitter to ask questions online so that you can gather useful information about the best places to open an account.

Now that you have a better understanding of Forex Trading - consider Global Prime for your next trade.

Benefits of World Class Trading

Tight Spreads

You'll be able to trade on competitive rates and leverage our global reach.

  • We understand what you need
  • Trade with a transparent broker

Liquidity

Deep liquidity through ECNs and dark pools. Get the ECN advantage.

  • Be a part of an elite trading community
  • Be confident in your trading decisions

Range of Markets

Get access to the world's most liquid markets. Trade 24 hours a day.

  • Keep up with your favorite assets
  • Be confident when trading

Radical Transparency

Trade Receipts - the easy way to verify your trades.

  • Make smarter decisions about trading
  • Feel like an insider when you trade

No Restrictions

We've got you covered: technical, fundamental, news, and EA friendly.

  • Learn how to trade without worry
  • Be in control of your trades

Low Latency

Fast execution speeds from as low as 1ms. Competitive pricing

  • Get the best prices in the market
  • Get what you want, when you want it

We serve traders like you
from 196 countries*

Spreads From

0.0 Pips

Execution From

1 MS

Trade Markets

24/5

Deposit & Withdrawal

$0 Fee

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