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 that show the bank who filled your trade, execution speed, slippage and more.
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.
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Forex trading is when you buy or sell a currency pair in order to make a profit. The foreign exchange market (forex, FX, or currency market) is a worldwide, decentralised, over-the-counter market for the trading of currencies. It is considered the largest market in the world, with daily trading volumes exceeding 5 trillion.
This gigantic volume (which dwarfs all of the major stock exchanges) combined with 24/5 trading, ample volatility, and generous trading conditions, has made the forex market a place of risk and reward for the discerning trader.
FX trading involves buying one currency pair "base currency" against another currency pair "counter currency" anticipating that one currency will rise or fall against another.
Forex trading is similar to shares trading, except you're buying or selling one currency against another. It typically involves leverage which allows you to trade a much bigger volume by using only a limited about of capital. There are many different forex strategies used for trading Forex.
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The gross profit on your rate is calculated as follows:
100,000 AUD x 0.71707 = 71,707 USD
100,000 AUD x 1% = 1,000 AUD
100,000 AUD x 0.72752 = 72,752 USD
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
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.
View our trading conditions across our full range of products to see how trading with Global Prime is your next best move.
Disclaimer: Spreads from ‘Trade Proofer’ monthly spread data September 2019 report.
48 FX, 22 Commodities, 19 Indices, 7 Bonds, 00' Shares
Individual, Joint, Corporate and Trust accounts
7 AUD, 7 USD, 6.2 EUR, 5.4 GBP, 9.5 SGD, 9 CAD
Our tight ECN spreads rank among the best brokers globally.
Tier-1 banks, non-bank market makers, ECNs & dark pools.
48 FX, 20 Commodities, 15 Indices, 5 Digital Ccy. 20 Shares
We verify that we are ECN & all claims with trade receipts!
No brakes on your trading. Scalper, EA, HFT, News & EA friendly.
Fast execution speeds
from as low as 1ms.
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.
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.)
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.
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
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.
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.
GMT +3 (DST) / GMT + 2 (non DST)
Our in house experts post daily articles covering the markets. You can find this material at the following link: https://insights.globalprime.com/
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.
We offer the following trading platforms - MetaTrader 4, Trader Evolution and FIX API.
The average execution speed for FX is <25 ms.
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/.
On FX pairs, the maximum lot size per trade that can be executed is 1000 lots.
The minimum trade size that can be executed on FX is 0.01 lots.
Forex trading involves buying and selling foreign currencies to make a profit. Predicting forex prices is notoriously difficult. Foreign exchange trading attracts all types of investors, collectively known as forex traders.
The forex market is estimated at USD$7 trillion worth of forex transactions daily!
Forex traders include big institutions, corporations, governments, as well as, forex currency speculators. Forex currency speculation accounts for roughly 90% of all forex trading volumes. The most speculated foreign currencies include the US dollar, Euro and Yen.
Foreign exchange trading is based on trying to predict the value of one currency against another, also known as currency trading.
Margin trading is the most common form of forex trading. A small deposit worth a percentage of a total trade's monetary value is required prior to executing the trade. The later is known as margin leverage.
Trading forex currency requires substantial knowledge, research, monitoring and self-discipline. Before you commit to currency trading ensure you trade with a licensed forex broker.
Despite the huge size of the forex market, there is very little regulation because there is no governing body to police it 24/7. Instead, several national trading bodies around the world oversee domestic forex trading, to ensure that forex brokers adhere to local and international standards of practice. In Australia the regulatory body is the Australian Securities and Investments Commission (ASIC).
Tiny movements in markets can have a significant impact. This is compounded by margin trading where fx trading products are highly leveraged. Whilst you may only pay a fraction of the up-front trade, you are fully liable for the full amount of the trade.
Foreign exchange rates are highly volatile. This is particularly noticeable in short periods of time. These constant price changes can either benefit you or cause you to lose money.
Currency markets are near impossible to accurately predict. There are too many factors at play that may influence directly or indirectly forex prices.
Forex scams. Enticing account opening offers and ads that sound too good to be true probably are - stay well clear!
Forex broker risks. If your FX broker became insolvent, you may not get your money back. Choosing a reputable broker is extremely important.
Trading delays. Lack of market liquidity, poor execution times and platform issues are factors to consider when choosing a forex broker. Some or all of these may be out of our control and negatively impact your trades.
Now that you have a better understanding of Forex Trading - consider Global Prime for your next trade.