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Global Prime
Pro Account

The Global Prime Pro Account is for traders registered with Global Prime Pty Ltd (Australia) who qualify as a Wholesale Investor.

What is the Global Prime Pro Account?

The Global Prime Pro Account is designed for traders registered with Global Prime Pty Ltd (Australia), who qualify as a Wholesale Investor, and who want access to higher leverage.

The range of markets, trading platforms, and fees and charges will be the same for all clients. The key difference for the Global Prime Pro Account holders is the freedom to choose leverage (up to ~1:200).

Global Prime Pro

Wholesale Investors only

The Pro Account is only available for Traders who classify as a Wholesale Investor under the Corporations Act 2001 (Cth).

Wholesale clients don’t have the same protections afforded to retail clients which can mean limited recourse in the case of a dispute, and fewer legal and regulatory obligations from Global Prime.

See the Pro Account Offer Document for more information.

Global Prime Pro
Protection Retail Client Wholesale Client
Leverage restrictions Yes No
Margin Stop Out Level 100% 100%
Client Money Protection Yes No
Negative Balance Protection Yes No
Disclosure documents - PDS and FSG Yes No
Internal Dispute Resolution Yes Limited
AFCA Yes Limited

Retail client vs Wholesale client (Pro Account) leverage

Instruments Category Retail Client Wholesale Client
Major Forex 1:30 ~1:100
Minor Forex 1:20 ~1:100
Major Indices 1:20 ~1:100
Gold 1:20 ~1:100
Commodities 1:10 ~1:100
Minor Indices 1:10 ~1:100
Shares 1:5 1:20
Bonds 1:5 1:100
Digital Currencies 1:1 1:1

Global Prime Pro Account Requirements

To qualify for the Global Prime Pro Account you will need to meet one of the following eligibility criteria below.

Global Prime reserves the right to reject an application even if these requirements are met.

Global Prime Pro
Sophisticated Investor Test Wholesale Client Test
Criteria 1
Complete the Sophisticated Investor knowledge test
Criteria 1
Minimum net assets of AUD$2.5 million
AND OR
Criteria 2
Demonstrate that you’ve traded Forex and CFDs at least 20 times per quarter for a minimum of 4 quarters in the preceding 2 years with a notional value of AUD$50,000 or more.

OR

Work or have worked in the financial sector for at least one year in a professional position which requires knowledge of Forex and CFDs.
Criteria 2
Minimum gross income AUD$250,000 for each of the last 2 years
If you’re eligible, it’s simple:
  1. Log into your Client Portal
  2. Select Pro Account from the menu
  3. Select start Pro Account application
  4. Select Sophisticated Investor Test or Wealth Test and complete the steps
  5. Supply supporting documentation for your application

Frequently Asked Questions

What are the negatives of the Pro Account?

Wholesale clients are treated differently under the Corporations Act 2001 (Cth). This ultimately means fewer protections for Pro Account holders, limited recourse in the case of disputes, and fewer legal and regulatory obligations from Global Prime.

  • No retail client leverage restrictions
  • No change to our margin close out - remains 100% margin level for all clients
  • No retail client negative balance protection
  • No retail client disclosure requirements - PDS and FSG
  • No retail client money protection
  • No obligation to provide internal dispute resolution, however we will provide.
  • Limited access to external dispute resolution through AFCA.

Why does a qualified accountant need to certify my eligibility?

For clients who nominate to do the wealth test to qualify as a wholesale client, a qualified accountant is required to certify this information as a requirement under the Corporations Act.

A qualified accountant is defined in s88B of the Corporations Act as a person meeting the criteria in a class declaration made by ASIC. Under our class order [CO 01/1256] you are a qualified accountant if you:

  • belong to one of the following professional bodies at the declared membership classification,
  • and you comply with your body's continuing professional education requirements.

Professional bodies include: Chartered Accountants Australia and New Zealand (formerly The Institute of Chartered Accountants in Australia), CPA Australia, Institute of Public Accountants (IPA).

If I qualify for the Pro Account, will all of my accounts be changed?

If you qualify for the Pro Account, all trading accounts under that profile (legal entity) will be changed to the Pro Account.

Every profile belonging to a different legal entity (unique Global Prime client) will need to be changed separately and undergo the same eligibility process.

Do Pro Account spreads and commissions change?

All trading conditions should remain unchanged for Pro Account holders. The only difference to trading conditions will be the leverage.

Do we treat Individual, Trust, and Company accounts the same way?

Pro Accounts can be opened for Individuals, Companies, Trust and Joint accounts.

Will my Pro Account still have access to internal dispute resolution (IDR)?

Yes. Our high level of service to you will remain unchanged.

Will my Pro Account still have access to AFCA?

Yes. We will allow Pro Accounts to lodge a dispute with AFCA. We have no control over AFCA’s approach to wholesale clients and whether they will accept a dispute or not.

Can I classify my SMSF or my Company Account as a Professional Investor?

Yes you can.