This GlobalPrime review tries to explain what makes the broker one of the worst in the country

This GlobalPrime review tries to explain what makes the broker one of the worst in the country

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MT4 Forex broker was founded in Australia. The demand for new brokers by the traders in the area is growing daily, and as a result, many brokers manage to enter the market without having the proper tools and the proper offers available. Still, the broker is able to generate interest for itself by managing to do one thing right. This one thing, whether it is a high-quality platform, a reliable customer service, or as is the case with this broker, the quality of the educated offered to the users, is what drives hundreds of people to start trading even with brokers that offer sub-par services. While it is good to have a broker that you feel comfortable with and that offers a good service, it is also important to understand that a complex set of services is needed, in order to be able to be a successful trader. So, to stop you from trading with a sub-par broker, let us tell you why FX brokerage is not going to be the one for you. review of features

The temptation to start working with this broker becomes undeniably strong the minute you visit their website for the first time. The website seems to be incredibly high quality. And this is true, the website that the broker has prepared is indeed quite well made, so much so that it is able to compete even with the biggest brokers out there, in terms of quality. The design of the page is decided and built with calming, simple colours that you are intrinsically drawn to trust without even knowing why you feel this way. Furthermore, the website does a great job of earning your trust, simply because it is so good at telling you what the broker is about. This is why the review we are writing right now, while quite negative, has been quite positive so far. It has managed to be honest about even the worst of its qualities, and honesty is something that we value very, very much. The broker makes it clear that the service they are offering might not be for everyone, and that it might not be a good fit for those who do not want to pay the extra fees for working with them. Combine this with a couple of other features that the broker manages to introduce and you will realize why we do not outright rank it a scam, but rather as a  broker that is definitely one of the worst.

Speaking of the features means that we should talk a little bit more about the platforms that the broker offers. There is the MT4. The platform is not the worst out there, but it is definitely not one of our favourites. The reason for this is quite simple – the broker faces a number of issues in its operation. The first issue, and probably the most important one, is the fact that the platform suffers greatly if the broker does not implement it entirely correctly within its system. As a result, what we get with the broker is that the trades that are being conducted by the sometimes lag behind in their execution, which results in them losing a certain amount of funds. What is more, the platform does not provide users with the analytical tools that the trader would require in order to be able to reliably analyze the market and conduct their trades with a high rate of success. In order to be able to do so, the traders might have to use some other application for market analysis, which is generally, unacceptable. This is where your and our opinion should already start declining.

The customer support and service call centre and online presence are available for use. The broker does provide information regarding their customer service centre and makes it very easy to access this information. The customer support professionals are also very reliable, very polite and always ready to help. The problem is actually getting to them. You see, in order to get them on a call, a user would have to wait anywhere between ten and thirty minutes. What is more, the online chat system takes more than twenty minutes to get a reply through, while the email and the mail solutions are too slow in the modern-day context of Forex trading to even consider. This causes some very serious damage to the rating that we are going to be giving to the broker in the end.

There is one more feature that we would like to mention and which is incredibly important in any broker and trader relationship. Any time a trader wishes to deposit or withdraw their funds, they have to be able to do so with ease and without an issue, through several methods. Unfortunately, the broker fails to provide more than a couple of ways to deposit money. The only two ways to do so is through either depositing with a credit card, wire transfer or Netteler. A limited choice of transaction options has caused the opinions of our team to be very negative. What caused us even more disappointment is to learn that the broker might also have a 3-4% charge on any transaction that is made with a card. This additional charge to every transaction might cause some significant issues to the money that a user is able to make and might have a significant impact on their income margins, which would definitely be a shame for any trader trying to make a living off of Forex. bonuses and education

But just like we said, there are more than one qualities that cause us to not give the broker a scam broker status. One of these is the fact that the broker is able to provide their users with an incredibly comprehensive and high-level education platform to learn their trading on. This platform is incredibly in-depth, providing a range of lessons and educational opportunities that cover the very basics to some of the most advanced mathematical techniques that have ever been applied to Forex markets. This incredibly well structured and developed educational platform is the quality that draws so many new customers to the broker year after year, and we empathize with every single one of them. We also understand that this is also the least important quality of a broker and that any service that the broker provides, if it is to be the best, should be trading related rather than education-related.

Can be trusted?

If you are having a hard time believing us as a single source, then you would probably be more trusting of some of the many users reviews available throughout the internet. These reviews often talk about how they got exactly what they were looking for from the broker. They knew that they would be encountering issues and they knew about the fees they would have to deal with when trading with the broker, but they were okay with them. They got what they asked for, and this is why the online reviews you see of the broker are mostly positive. It is not the fact that the service provided by the broker is of such a high quality, but rather stemming from the fact that the broker was honest about what it was going to give to the users and the users knew and agreed to those terms. No way to complain about something that you wanted, right?

Is legit?

You might still need proof of the legitimacy of the company, despite all of the information that we have provided above. Well, the broker has been licensed to operate by ASEC, the chief Australian securities and exchanges commission that regulates Forex brokers and similar industries across the country. A license from ASEC means that the broker is not a scam and is rather a highly reliable broker. It means that there is no such thing as fraud and that the money you deposit with the broker or manage to earn through trading, will not all be lost as a result of them stealing it. This does not mean a good service though, it only means an honest service is being offered to the users, so be careful about getting too excited.

Final opinion

In the end, it is important to remember that no matter how many good reviews and licenses a company has, if the services it offers are not good than we are simply going to say that you should stay away from them. We saw that what the company has to offer is sub-par. The trading experience is clunk,y delayed and unsatisfying, while also costing an extra dollar every once in a while. The withdrawal and deposit systems result in extra payments. The customer service is incredibly hard to get to, and a slew of other issues plague the broker. As a result, there is no way that we could say it is an acceptable broker, even though it is an honest one, and one that is allowed to operate. If you start trading with them, don’t forget that we warned you, and don’t come crying to us after you end up with a service you don’t enjoy.

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