Trading Accounts
Pro Trading
Welcome to Global Prime Pro!
Our Professional trading account is designed for sophisticated traders who require higher leverage.
With the Global Prime Pro Account, you will be will be able to advantage of our flexible leverage, advance trading tools and features. To open a Global Prime Pro Account, simply complete our easy online application process, and you will be trading in no time.
Benefits of Using a Pro Account
At Global Prime, we are committed to providing our clients with exceptional service and support. With our Global Prime Pro Account, you will have access to a range of benefits that are designed to enhance your trading experience and help you achieve your trading goals.
Higher Leverage
With a Global Prime Pro Account, you can enjoy increased leverage (~1:100), allowing you to take larger positions and potentially increase your returns.
Priority Access
Get prompt access to new trading products and services ahead of their release to retail clients.
Trading Rebates
Gain access to trading rebates based on trading volume and referrals.
Fund Protection
We take the safety of our clients' funds very seriously, which is why we hold all client funds in segregated accounts with top-tier banks. This provides an additional layer of security to ensure your funds are always protected.
Skip the Line
By skipping the support queue, you will receive priority access to our teams.
Dedicated Account Manager
As a Global Prime Pro Account holder, you will have a dedicated account manager to assist you with any questions or concerns you may have. They will work closely with you to understand your trading goals and help you achieve them.
What is the Global Prime Pro Account?
The Global Prime Pro Account is designed for qualified traders registered with FMGP Trading Group Pty Ltd 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).
Protection | Retail Account | Professional Account |
|---|---|---|
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 |
Difference Between Retail and Professional Account
Instruments Category | Retail Account | Professional Account |
|---|---|---|
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 | N/A | 1:5 |
To Qualify for the Global Prime Pro Account You Will Need to Meet One of the Following Eligibility Criteria Below
Sophisticated Investor Test
Criteria 1
Pass the Pro knowledge quiz.
AND
Criteria 2
Demonstrate your trading experience by:
Having executed at least 20 trades per quarter (for any 4 quarters in the last 2 years with a notional value of over $50,000).
This can be demonstrated from your Global Prime account, another provider, or a combination of both.
OR
Currently work or have worked in the financial sector for at least one year in a professional position which requires knowledge of leveraged trading (FX or CFDs).
*You will be asked to provide evidence of your trading experience or sufficient work experience in the financial sector.
Wealth Test
Criteria 1
You have net assets of at least AUD 2.5 million, as certified by a qualified accountant dated within the last 6 months.
OR
Criteria 2
You have gross income for each of the last two financial years of at least AUD 250,000 per annum, as certified by a qualified accountant dated within the last 6 months.
Please note that Global Prime reserves the right to reject an application even if these requirements are met.
FAQs
If I qualify for the Pro Account, will all 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 you 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.
Why does a qualified accountant need to certify my eligibility?
For clients who nominate to do the wealth test to qualify for a Professional Account, 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).