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Contract reading

What Global Prime legally published, but does not want you to read

Every clause below is published by Global Prime itself, on its own website, today. The finding is not that the text exists. It is the distance between what a client is shown and what a client agreed to. Read from its own documents on . We have read it 2 times.

Contracting entity: Gleneagle Securities Pty Limited

sole discretionwithdrawalshidden feeprofit voidingunilateral amendmentdisputeentity mismatchscalpingclient moneycompensation scheme

Global Prime can undo trades and close your positions at prices it picks. Scalping sits in its misconduct list, while the home page welcomes scalpers. Money in the trust account can be spent on liabilities other clients created. A complaint has to leave the firm within 45 days, and you contract with the Vanuatu company, not the Australian licence holder.

Back to Global Prime

Contract risk

Money at risk
7.5/10

Where this contract sitsHow far this contract goes, overall. Under 2 is nothing beyond the ordinary; 6 to 9 means several clauses put money you have already earned at risk; 9 and above reads as designed to make payout refusable.

0510
CriticalClauses that can cost you money you have already earned or deposited, or that remove your ability to challenge it.
8
FlaggedEvery clause worth knowing about, at all three severities. Ordinary terms that every broker has are not counted.
24
DocumentsHow many of the broker's own legal files this reading is based on. Each one was downloaded and hashed on the date shown.
8
ContradictionsPlaces where a promise the broker makes in public is not kept by the clause that governs it.
7

How the 24 break downThe same flagged clauses, split by how much each one can cost you. Severity is our reading of the clause, not the broker's label.

Critical8
Warning14
Notice2

The numbers in this contractFigures taken from this broker's own clauses, so the labels differ from broker to broker. The four in the panel above are the same on every report.

2 of these 4 figures come from a clause we rate critical, which means it can take your money or your profit rather than only delay it.

Critical13Profit at risk. Jump to the clause this comes from.Scalping and heavy leverage are listed as default eventsCritical45 daysTime to complain. Jump to the clause this comes from.45 days to take a complaint outside Global Prime4%Fee you were not shown. Jump to the clause this comes from.No deposit fees, unless you withdraw without trading10 daysAccount limit. Jump to the clause this comes from.Terms change ten days after a website post

What the documents say

24 clauses worth knowing about, worst first, each quoted from Global Prime's own files

01

Global Prime lists 13 trading behaviours its contract treats as wilful misconduct, and scalping is one of them. Clause 1.1 lets Global Prime decide on its own that you did any of them.

Why this matters

Once Global Prime calls your trading a default event, clause 30.1 lets it close your open positions, suspend the account and end the agreement. Clause 31.1 lets it void a contract on suspicion alone.

Exhibit 1CriticalRarely seen13

wilful misconduct including: 1) commission churning; 2) sniping; 3) causing or contributing to or benefiting from a Material Error; 4) moving the price of an Underlying Instrument; 5) scalping; 6) arbitraging off-market pricing; 7) money laundering; 8) different accounts being traded by one trader simultaneously; 9) churning; 10) trading patterns such as risking all the trading equity in large one-directional trades; 11) use of excessive leverage; 12) same electronic identification point with other Clients or communication with other Clients; 13) placement of opposing orders so as to abuse guaranteed fill.
Clause 1.1 in Financial Product Service Terms, p.1
Read from the broker's site on Archived copyOpen the reference

Our readingMost agreements define abusive trading by its effect, such as exploiting a price error. This list names ordinary habits instead: scalping, heavy leverage, large one directional trades, and sharing a connection or talking with another client.

  • Worse together with Exhibit 16Scalping counts as misconduct and Global Prime also sets a minimum time your trade must stay open, so there is no safe way to trade in and out quickly.
  • Worse together with Exhibit 22The home page sells leverage up to 1:1000 while the contract counts use of excessive leverage as a default event, without saying where the line sits.
02

Money you pay into the client trust account can be spent on liabilities that other clients' trading created, under clause 23.3. Clause 23.4 then says that money is no longer yours.

In plain words

Liquidity providers are outside banks and brokers.

Why this matters

If those payments go wrong you are an unsecured creditor for your own balance, under clause 24.6. That puts you behind secured lenders if Global Prime fails.

Exhibit 2CriticalRarely seen

You authorise and direct Global Prime to withdraw, apply or otherwise utilise the Monies: a) in order to meet obligations (the Obligations) incurred by Global Prime in connection with Contracts. Obligations may include an obligation to make payments to a liquidity provider in connection with liabilities Global Prime incurs when the Client and other clients place Contracts with Global Prime;
Clause 23.3 in Financial Product Service Terms, p.17
Read from the broker's site on Archived copyOpen the reference
Set against a regulated standard: ASIC (Australia), FCA (UK)

Firms licensed by ASIC in Australia cannot use retail client money to meet their own hedging and margining costs with counterparties. FCA rules require client money to be held for the client it belongs to. This contract says the money stops being yours once Global Prime applies it.

Global Prime is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

Our readingPooling client money in one trust account is normal. Naming other clients' trading as a purpose your money may be spent on is not, and it turns a shared account into shared exposure.

  • Worse together with Exhibit 4Your money can fund the hedging, and what you are owed back is capped at what that hedge pays out.
03

You get 45 days from the day a dispute arises to take it to The Financial Commission. Global Prime gives itself 30 days to answer you first.

Why this matters

Use the internal route and you may have two weeks left to go outside. Clause 26.2 lets Global Prime take longer than 30 days, and the 45 day clock runs from the dispute, not from its reply.

Exhibit 3CriticalHarder than usual45 days

If your compliant is filed with The Financial Commission, it must be done so within 45 days of the dispute arising with us.
Clause Step 2 in Complaint Handling Policy, p.1
Read from the broker's site on Open the reference
Set against a regulated standard: FCA (UK), ASIC (Australia)

Firms licensed by the FCA must give a final answer within eight weeks. The client then has six months to take the complaint to the Financial Ombudsman Service, free of charge. Australian licensees must answer within 30 days and clients can then go to AFCA. Here the outside route closes 45 days after the dispute arose.

Global Prime is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

What happens, and when

The stages this clause runs through, taken from the broker's own document
TriggerWhat the broker may then doClause
Day 0The dispute arises and the 45 day clock starts running.Step 2
Within 30 daysGlobal Prime gives its written response, or says it needs more time.Step 1
Day 45The Financial Commission will not accept your complaint after this.Step 2
  • Worse together with Exhibit 18The complaints policy is one of the policies the PDS says gives you no legal rights.
04

Global Prime caps what it owes you at whatever it actually recovers from its hedge counterparty, in section 3.16 of the PDS. It can also stop chasing that money early.

In plain words

On a principal basis, as your counterparty, means the broker takes the other side of your trade itself. Your loss is then the firm’s gain, so it has an interest in how your trade ends.

Why this matters

A profit shown on your screen is not money the firm has promised in full. You have no claim of your own against the hedge counterparty and cannot make Global Prime pursue it.

Exhibit 4CriticalRarely seen

Global Prime limits its liability to you (as a Client) under the terms of the Global Prime Products by the extent to which Global Prime actually recovers against its Hedge Counterparty, and allocates the proceeds to your Global Prime Products.
Clause 3.16 in Product Disclosure Statement (PDS), p.23
Read from the broker's site on Open the reference

Our readingMost retail CFD contracts make the broker liable for the full amount it owes. This one makes your payout depend on money the broker collects from a third party you have no claim against.

  • Worse together with Exhibit 7The same hedge failure that limits what you are paid also lets Global Prime end the agreement and its obligations.
05

Every trade you make is a contract with Global Prime as principal, and Global Prime sets the price on both sides. The PDS calls this an automatic risk of actual conflicts of interest.

Why this matters

Your exit price comes from the firm on the other side of your trade, and the PDS says you carry the risk of whatever value it determines. It does not act as your agent to find the best price.

Exhibit 9WarningStandard wording

Trading with Global Prime for its Global Prime Products carries an automatic risk of actual conflicts of interests because Global Prime is acting as principal in its Global Prime Products with you and Global Prime sets the price of the Global Prime Products.
Clause 4.2 in Product Disclosure Statement (PDS), p.28
Read from the broker's site on Open the reference
06

Global Prime says it charges no deposit fees and absorbs merchant fees of up to 4% for you. Three asterisks down the same page, it keeps the right to charge those fees back if you withdraw after little or no trading.

Why this matters

Global Prime decides what counts as minimal trading, and the page says repeat cases get the account closed. Nothing caps the charge or names which methods it applies to.

Exhibit 11WarningHarder than usual4%

Global Prime does not charge any fees for deposits.
Clause Deposit options, fees note in Deposit & Withdrawals
Read from the broker's site on Open the reference
Our own capture of globalprime.com, taken on Oct 15, 2026No deposit fees, unless you withdraw without trading (clause Deposit options, fees note)Visit this page on the broker's siteDownload the full size image file

What it costsA $1,000 card deposit taken back out without trading can carry up to $40 in merchant fees, using the 4% figure on the page.

Four ways Global Prime can undo a trade you already made

Global Prime lists 13 trading behaviours as default events, and scalping is one of them. Clause 30.1 then lets it close your positions, void contracts and end the agreement. A price it calls a Material Error can be adjusted after you traded on it, and clause 32.5 releases the firm from trades you already hold if its hedge counterparty fails.

Trade reversal3 clauses flagged

A quote Global Prime treats as a Material Error can be adjusted after you traded on it, under clause 19.2. The definition covers its own mistakes, a liquidity provider's mistake, software faults and quoting delays.

Why this matters

A profit made on that price can be taken back, and clause 19.3 settles any argument at a value Global Prime works out itself. Clause 29.3 lets it unwind or reverse the positions.

Exhibit 5CriticalHarder than usual

Material Error means a liquidity provider, Hedge Counterparty or Global Prime error, a software error, a typographical error, an off-market price or obvious mistake in a Contract, Underlying Instrument, quote or indication and includes quoting delays.
Clause 1.1 in Financial Product Service Terms, p.4
Read from the broker's site on Archived copyOpen the reference
  • Worse together with Exhibit 1Benefiting from a Material Error is itself one of the 13 behaviours listed as wilful misconduct in clause 1.1.

Global Prime can cut your access to the platform for any reason, then close your open positions at prices it considers fair. Clause 8.1 also has you agree not to claim against it for doing so.

Why this matters

A trade you are holding can be ended at a price you never accepted. Clause 14.2 adds a second route, letting Global Prime close everything once it decides your unrealised loss is too large.

Exhibit 6CriticalHarder than usual

e) Global Prime may taking steps it considers reasonable at any time without Notice suspend, withdraw or deny access to the Online Trading Platform for any reason including but not limited to security, quality of service, failure by you to pay an amount when due or breach by you of any provision of these Terms.
Clause 8.1 in Financial Product Service Terms, p.10
Read from the broker's site on Archived copyOpen the reference

If Global Prime believes its hedge counterparty cannot pay, clause 32.5 lets it end the agreement at once. It is then relieved of its obligations, including obligations under contracts you already hold.

Why this matters

Global Prime can walk away from your open trades for a reason that has nothing to do with you. Clause 32 does not say what you are paid when that happens.

Exhibit 7CriticalRarely seen

Global Prime, at its sole discretion, may terminate these Terms immediately by Notice to you, and Global Prime at its sole discretion shall be relieved of any obligations set out in these Terms or arising out of the Contracts contemplated by these Terms, including any obligations arising out of any Contracts already entered into with Global Prime.
Clause 32.5 in Financial Product Service Terms, p.22
Read from the broker's site on Archived copyOpen the reference

Our readingTermination clauses normally leave existing trades to be settled. This one releases the firm from obligations under contracts already entered into, and one of its triggers is a failure by the firm's own hedge counterparty.

Global Prime can change the agreement and hold your trade open

An amendment posted on the website binds you 10 days later, under clause 33.1. A position must stay open for a minimum time Global Prime sets, with no number written down. Your losses are not capped at what you deposited.

The firm's powers3 clauses flagged

Global Prime can ask you for more than the money in your account if a position moves far enough against you. The PDS says your liability can be unlimited.

In plain words

Negative balance protection is a limit that stops you owing more than you put in. Without it, one fast market move can leave you owing the broker money on top of your deposit.

Why this matters

A sudden price jump with no trading in between can leave you owing Global Prime money you never deposited. Its own FAQ offers negative balance protection to Australian retail clients, and this contract gives you none.

Exhibit 8CriticalHarder than usual

Your potential liability is not limited to the amount you pay or we keep in the Global Prime Trust Account. We may ask you to pay amounts in excess of those amounts to cover any shortfall. Your liability on Global Prime Products can be unlimited.
Clause 1.2 in Product Disclosure Statement (PDS), p.1
Read from the broker's site on Open the reference
Set against a regulated standard: FCA (UK), CySEC (Cyprus), ASIC (Australia), ESMA (EU)

Firms licensed by the FCA, CySEC and ASIC must give retail clients negative balance protection, so a client cannot lose more than the money in the account. This contract says liability can be unlimited.

Global Prime is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

Global Prime can set a minimum time an open position has to stay open, and you cannot close it during that time. The service terms give no number and no limit.

Why this matters

A profit you want to take may have to wait. The PDS also warns that volume limits or filters can delay your orders, with no recourse against Global Prime.

Exhibit 16WarningRarely seen

an Open Position must remain open for the minimum period of time as determined by Global Prime and cannot be Closed Out by you during this period.
Clause 4.5 in Financial Product Service Terms, p.7
Read from the broker's site on Archived copyOpen the reference

Our readingA minimum holding time usually appears as a stated number of minutes in a promotion. Here it sits in the main agreement, with the length left to Global Prime, while the home page invites scalpers.

Global Prime can amend the agreement at any time, and a post on its website binds you 10 days later. A notice put there counts as given to you after 3 days.

Why this matters

You are expected to watch the website for changes nobody sends you. Opening an account is treated as agreement to all seven documents, in Global Prime's own words on its legal page.

Exhibit 17WarningHarder than usual10 days

These Terms and any Contracts under them, may be amended by Global Prime at any time. Global Prime will provide Notice to you of any such amendment. You agree to be bound by the terms of such an amendment on the earlier of: a) ten Days after Global Prime has posted Notice of the amendment on the Global Prime Website; or b) upon providing Notice to you by email;
Clause 33.1 in Financial Product Service Terms, p.22
Read from the broker's site on Archived copyOpen the reference

The home page and the FAQ promise more than the Vanuatu documents give

The home page offers leverage up to 1:1000 while the PDS caps it at 1:500 on request. The FAQ answers the regulation question with an Australian licence, and the documents you accept are the Vanuatu set. Both PDS files are still dated 28 February 2023.

Page against contract2 clauses flagged

The FAQ answers the regulation question with an Australian licence number. Every legal document you accept is the Vanuatu set, issued by a Vanuatu company.

Why this matters

The protections named in that answer, including negative balance protection, are for Australian retail clients. Your contract is with the Vanuatu company and carries none of them.

Exhibit 21WarningHarder than usual

This Product Disclosure Statement (PDS) is dated 28 February 2023 and was prepared by Gleneagle Securities Pty Limited Company Number 40256, incorporated in Vanuatu and regulated by the Vanuatu Financial Services Commission (VFSC) as a authorised securities dealer, trading as Global Prime (Global Prime), as the issuer of the following over the counter (OTC) Products:
Clause 1.1 in Product Disclosure Statement (PDS), p.1
Read from the broker's site on Open the reference

The home page offers leverage you can adjust up to 1:1000. The PDS you agree to sets the default at 1:100 and caps requests at 1:500, subject to approval.

Why this matters

Leverage above the level in the PDS has no footing in the document you signed. The same contract treats use of excessive leverage as a default event, without saying what excessive means.

Exhibit 22WarningHarder than usual

The Leverage Rates for the Global Prime Products traded on Online Trading Platform is set at the default being 1:100. This can also be expressed as percentage being 1%. Clients can request to have the Leverage Rates increased up to 1:500 which needs to be approved by Global Prime depending on the Client’s suitability considerations.
Clause 3.12 in Product Disclosure Statement (PDS), p.19
Read from the broker's site on Open the reference

The costs that are not on the pricing pages

Overnight financing can carry a markup of up to 25% a year, and currency conversion up to 1% of a trade's full face value. Swap free and Islamic accounts carry an administration fee the PDS never prices. The funding page says no fees, then keeps the right to charge merchant fees back at withdrawal.

Cost disclosure3 clauses flagged

Holding an equity, index or crypto position overnight can cost you the interbank rate plus a markup of up to 25% a year. The PDS sets that ceiling in its definition of Finance Rate.

Why this matters

Global Prime sets the rate and can change it without warning. Clause 22.11 says you still owe the charge even when it is not shown on your statement.

Exhibit 12WarningHarder than usual25%

In the absence of any valid nomination, when you hold a long Equity CFD, Cryptocurrency Contract and Index position overnight, the Finance Rate for a Finance Charge Adjustment debited to your Account (or Trading Accounts) is the prevailing suitable inter-bank overnight reference offer rate plus a mark-up, up to a maximum of 25%.
Clause 7.1 in Product Disclosure Statement (PDS), p.32
Read from the broker's site on Open the reference

What it costsAt the 25% ceiling, a $10,000 position costs about $6.94 a day using the formula in the PDS, which is roughly $208 over 30 days.

Converting a trade into your account currency can cost up to 1% of the full face value being converted. The PDS puts the ceiling at 100 basis points.

Why this matters

On a leveraged trade the face value is far bigger than the margin you put up, and this cost is measured against the whole position. Global Prime takes it out of your realised profit or loss.

Exhibit 13WarningHarder than usual1%

The conversion cost charged is up to a maximum of 100 basis points (1.00%) of the Transaction’s full face value being converted and is adjusted in the realised profit or loss.
Clause 5.5 in Product Disclosure Statement (PDS), p.30
Read from the broker's site on Open the reference

What it costsA trade with a face value of $100,000 carries a conversion cost of up to $1,000 at the maximum the PDS states.

Swap free and Islamic accounts carry an administration fee whose amount the PDS never states. Global Prime can also charge a monthly platform fee and add new fees by giving you notice.

Why this matters

You cannot work out what an Islamic account costs from the documents you agree to. Clause 9.5 at least lets you end the agreement instead of accepting a new charge.

Exhibit 14WarningHarder than usual

You will incur an Administration fee when using a Swap Free or Islamic Account when holding transactions for a period of time. The charge amount and the time interval for each admin charge will vary based on the instrument.
Clause 5.7 in Product Disclosure Statement (PDS), p.30
Read from the broker's site on Open the reference

The trust account your money sits in is one the contract lets Global Prime spend

Clause 23.3 lets Global Prime take client money from the trust account to meet liabilities created by other clients' trading, and clause 23.4 says that money is then not yours. The PDS caps what you are owed at what Global Prime recovers from its hedge counterparty. No clause anywhere sets a deadline for paying a withdrawal.

Getting paid1 clause flagged

Nothing in the service terms sets a deadline for paying your money out. Clause 29.5 then rules out any liability for loss caused by a delay in funds reaching your account.

Why this matters

A withdrawal that takes weeks breaks no term of this contract. Global Prime also picks the method it pays you by, under section 3.12 of the PDS.

Exhibit 15WarningHarder than usual

Global Prime will use all reasonable endeavours to execute Contracts or make payments to you or to any third party specified by you, in accordance with the timing specified in your Instructions. However, Global Prime shall not be liable under any circumstances for any direct, indirect or consequential loss (including any loss of profits) incurred as a result of a delay in funds reaching your nominated account.
Clause 29.5 in Financial Product Service Terms, p.19
Read from the broker's site on Archived copyOpen the reference
Our own capture of globalprime.com, taken on Oct 15, 2026The claim, on Faster Withdrawals panel on the home pageThis capture shows the page the quotation was taken from. The words themselves are not marked in it, so please read the quotation above as the evidence.Visit this page on the broker's siteDownload the full size image file

The outside complaint route closes 45 days after the dispute, not after the answer

Global Prime gives itself 30 days to answer a complaint, and The Financial Commission accepts it only within 45 days of the dispute arising. The PDS adds that the complaints policy is a guideline giving you no legal rights. Both numbers come from Global Prime's own documents, and the outside route is at least free and names a compensation fund.

Complaint window1 clause flagged

Global Prime says its policies are guidelines that sit outside the agreement and give you no extra rights. It can change them at any time without telling you.

Why this matters

The complaints policy, with its 45 day outside route, is one of those policies. Section 6.2 of the PDS tells you to rely on the PDS instead.

Exhibit 18WarningHarder than usual

The policies are guidelines that Global Prime (including all of its staff) is expected to follow but policies are not part of the Financial Product Service Terms and do not give you additional legal rights or powers.
Clause 6.2 in Product Disclosure Statement (PDS), p.31
Read from the broker's site on Open the reference

A Vanuatu contract that still carries Australian wording

Clause 36.3 sends disputes to the courts of the Republic of Vanuatu. The same document defines Applicable Laws as the law of Australia, charges you Australian GST and stamp duty, and prints the same amendment paragraph twice as clauses 33.1 and 33.2.

Where disputes go1 clause flagged

A dispute between you and Global Prime goes to the courts of Vanuatu under clause 36.3. The same contract defines Applicable Laws as the law of Australia.

Why this matters

Suing in Vanuatu is out of reach for most clients. The mixed wording also leaves it unclear which law settles a question the contract does not answer.

Exhibit 20WarningStandard wording

These Terms are governed by and construed in accordance with the laws in force in Republic of Vanuatu and the parties submit to the non-exclusive jurisdiction of the courts of the Republic of Vanuatu.
Clause 36.3 in Financial Product Service Terms, p.23
Read from the broker's site on Archived copyOpen the reference

Global Prime asks for your identity file and publishes no policy covering it

The privacy policy on the legal page is a website policy about visitors, cookies and adverts. Nothing in the set says how long Global Prime keeps your passport and address proof, or how to have them deleted. The only retention period published anywhere is the seven years in the complaints policy.

Your documents1 clause flagged

Global Prime's privacy policy is a website policy. It covers visitors, cookies and adverts, and says nothing about the passport and address proof you hand over to open an account.

Why this matters

No document tells you how long your identity file is kept or how to have it deleted. The application form lets Global Prime send your name, date of birth and address to a credit reporting agency.

Exhibit 19WarningHarder than usual

It is Gleneagle’s policy to respect your privacy regarding any information we may collect while operating our websites.
Clause Website privacy policy in Privacy Policy, p.1
Read from the broker's site on Archived copyOpen the reference

Global Prime takes the other side of your trade and sets both prices

The PDS says trading with Global Prime carries an automatic risk of actual conflicts of interest, because it deals as principal and sets the price. Clause 7.5 lets it refuse your order without a reason or a message. Its About Us page says the conflict has been taken out of the equation.

Who you trade with1 clause flagged

Global Prime can decline to create any contract you ask for. Clause 7.5 says it does not have to give a reason or even tell you.

Why this matters

An order you believe is live may never exist. The PDS adds that quoted prices are indicative only and that Global Prime accepts or rejects any order at its discretion.

Exhibit 10WarningHarder than usual

If Global Prime declines to exercise the right to create a Contract, Global Prime shall not be obliged to: a) give a reason for declining; or b) notify you that Global Prime has not created a Contract with you.
Clause 7.5 in Financial Product Service Terms, p.9
Read from the broker's site on Archived copyOpen the reference

Global Prime charges nothing for leaving an account alone

No document in this set charges a dormancy or inactivity fee. Clause 24.5 lets Global Prime return the money in a long inactive account to your bank instead. Global Prime decides what a reasonably long period means.

In plain words

Dormancy means an account left unused.

Idle accounts1 clause flagged

No document in this set charges you for leaving an account idle. Clause 24.5 lets Global Prime send the money in a long inactive account back to your bank.

Why this matters

Your balance does not shrink while you are away, which is better than most brokers manage. Global Prime decides what a reasonably long period means, and the clause gives no number.

Exhibit 24NoticeStandard wording

If Global Prime determines that your Account has been inactive for a reasonably long period, you authorise Global Prime to withdraw any Withdrawal Funds from the Client Moneys Trust Account to be paid into your nominated bank account.
Clause 24.5 in Financial Product Service Terms, p.17
Read from the broker's site on Archived copyOpen the reference

The counterparty is a Vanuatu company and the licence on the site is Australian

Gleneagle Securities Pty Limited, company number 40256, issues the products and signs the service terms. FMGP Trading Group Pty Ltd holds the Australian licence and owns the website. Global Prime's funding page says there is no deposit compensation scheme behind the Vanuatu entity.

Who you contract with1 clause flagged

The company on the other side of your trades is Gleneagle Securities Pty Limited, company number 40256, registered in Vanuatu. The Australian licence shown on the site belongs to FMGP Trading Group Pty Ltd, which owns the website.

Why this matters

A complaint about your account goes to a Vanuatu company and then to a private scheme. Global Prime's own funding page says there is no deposit compensation scheme.

Exhibit 23NoticeStandard wording

Global Prime means Gleneagle Securities Pty Ltd trading as Global Prime company number 40256.
Clause 1.1 in Financial Product Service Terms, p.2
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Where the marketing and the contract disagree

A promise made in public, set against the clause that governs it

01

The home page welcomes scalpers while the service terms count scalping as wilful misconduct and a default event.

Said in public, in English

ALL Traders are Welcome Including Scalpers, Day-and-News Traders

Section heading on the Global Prime home page

In the contract · clause 1.1

wilful misconduct including: 1) commission churning; 2) sniping; 3) causing or contributing to or benefiting from a Material Error; 4) moving the price of an Underlying Instrument; 5) scalping; 6) arbitraging off-market pricing;

02

Segregation is promised on the home page, and clause 23.4 says the money stops being yours once Global Prime applies it.

Said in public, in English

That’s why we always segregate client funds in trusts with tier-1 banks like HSBC.

Home page section headed Trust is key when it comes to trading

In the contract · clause 23.4

You agree that when Global Prime uses the Monies for a lawful purpose as set out in this clause 23 , the Monies do not belong to you and do not constitute a loan or constructive trust in your favour.

03

The About Us page says the conflict has been removed, and the PDS calls it automatic and actual.

Said in public, in English

We believe that by taking the conflict of interest that arises from brokers profiting off client losses out of the equation, you can focus on your trading and not your broker.

Answer to the question why should I choose Global Prime, on the About Us page

In the contract · clause 4.2

Trading with Global Prime for its Global Prime Products carries an automatic risk of actual conflicts of interests because Global Prime is acting as principal in its Global Prime Products with you and Global Prime sets the price of the Global Prime Products.

04

The home page offers twice the leverage the PDS allows, and the PDS makes even 1:500 subject to approval.

Said in public, in English

Adjust your leverage between 1:30 and 1:1000 to suit your trading style.

Flexible Leverage panel on the home page

In the contract · clause 3.12

Clients can request to have the Leverage Rates increased up to 1:500 which needs to be approved by Global Prime depending on the Client’s suitability considerations.

05

The regulation answer names an Australian licence, and the documents you accept are issued by the Vanuatu company.

Said in public, in English

Yes. We’re regulated and licensed in Australia to provide financial services under Australian Financial Services License No. 385620.

Answer to the question is Global Prime regulated and licensed, in the US Shares FAQ

In the contract · clause 1.1

This Product Disclosure Statement (PDS) is dated 28 February 2023 and was prepared by Gleneagle Securities Pty Limited Company Number 40256, incorporated in Vanuatu and regulated by the Vanuatu Financial Services Commission (VFSC) as a authorised securities dealer, trading as Global Prime (Global Prime)

06

The page says no fees in large type and keeps the right to charge merchant fees back in a footnote.

Said in public, in English

Global Prime does not charge any fees for deposits.

Funding page, under the deposit options table showing $0 against every method

In the contract · clause Withdrawal options, note ***

If a client deposits funds via any available funding methods and then requests a withdrawal of these funds with no trading (or minimal trading) on their account then we reserve the right to charge the applicable merchant fees to the clients account upon their withdrawal.

07

Two hours is promised on the home page, and the contract sets no deadline and accepts no liability for delay.

Said in public, in English

The majority of withdrawals are now being completed in as little as under 2 hours, with a median processing time of approximately 2 hours.

Faster Withdrawals panel on the home page

We took a picture of this page. It is shown once, with the finding it belongs to. See our capture of globalprime.com

In the contract · clause 29.5

However, Global Prime shall not be liable under any circumstances for any direct, indirect or consequential loss (including any loss of profits) incurred as a result of a delay in funds reaching your nominated account.

The documents this reading is based on

8 files, all published by Global Prime. Each shows when we read it and a fingerprint of its wording.

WIKILIX keeps the copy of each file it read, and does not republish it: what is published is the fingerprint of its wording. Download the file yourself and hash its text, lowercased with runs of whitespace collapsed, and a matching fingerprint means the wording quoted above is still the wording Global Prime publishes.

How this reading was done

Every clause above was read out of a document Global Prime publishes itself

This reading was published on . It is the newest of 2 readings we keep of these documents. See every reading.

Documents
6 of 8downloaded from the broker's site, and 6 read in full
Pages opened
60pages walked to find those documents, footer links included
Older copies
2earlier versions downloaded, 1 identical to the copy we hold by fingerprint
Marketing pages
11public pages set against what the contract says

Who the contract is with

Gleneagle Securities Pty Limited

Gleneagle Securities Pty Limited, company number 40256, registered in Vanuatu and supervised by the Vanuatu Financial Services Commission, is the issuer named in the PDS and the party you contract with. It is not FMGP Trading Group Pty Ltd, the Australian company that holds Australian Financial Services Licence 385620 and owns the website. All seven documents on the legal page are the Vanuatu set, and the funding page says there is no deposit compensation scheme.

Quotations are copied verbatim from the documents named above, with the clause number and the page each one came from. Where a clause is quoted in another language, the original is shown first and the English is a translation.

The plain-language parts, what a clause means for a client, how ordinary it is, and how it reads against a regulated standard, are WIKILIX's analysis and are labelled as such on every card. This is a reading of public documents, not legal advice and not an allegation of wrongdoing.

Every time we have read this contract

We keep 2 readings of Global Prime’s documents, newest first. Each one shows what we said at the time.

2 readings

What changed since Sep 18, 2026

The counts below are about our own list of clauses. A clause can join it because the broker added it, or because this reading found something the last one missed.

New on our list
6 clauses
Off our list
3 clauses
We rate critical
8 now, 7 then
Our risk score
7.5 out of 10, unchanged

Every document is identical to the September 2026 version, so the contract has not changed. This review adds clauses not reported before. They are the minimum time a position must stay open, the PDS line saying Global Prime policies give you no legal rights, the merchant fee the funding page can charge back at withdrawal, and the 1:1000 leverage on the home page against 1:500 in the PDS. We no longer flag the referral reward terms, because that file would not open this time. The risk score stays at 7.5.

The counts above are the totals each reading published. They show that a total moved. They do not yet say which single clause was added or dropped.

  1. CurrentRisk 7.5/1024 clauses8 critical
  2. Risk 7.5/1021 clauses7 criticalReplaced

We keep every past reading so you can check what we said before, and when we said it. Those pages are archived snapshots of an older contract, so search engines are asked not to index them.

In fairness, and what we could not check

A reader who knows the edges of the work can trust the middle of it

Global Prime charges nothing for leaving an account idle, and clause 24.5 sends the money in a long dormant account back to your bank instead of eating it. Its funding page prints a client money table that admits client money can be used for hedging and that there is no compensation scheme, which most brokers leave out. Deposits and withdrawals cost $0 across more than 20 methods, and the broker says it absorbs merchant fees of up to 4% itself. The complaints policy names a free outside body and a compensation fund, and the PDS prices its examples with real numbers instead of pointing at a schedule.

The Refer a Friend offer terms are not covered. That file has no readable text, so the review says nothing about the referral offer, and the finding about it from the previous review has been dropped. Parts of the joint and corporate account application forms are also unreadable, so only part of each is covered. Everything else in the set is covered in full. Each of these files is the same as at the previous review, so no earlier version differs from today's. The site links two different copies of the joint account application form, one from the legal page and one from the footer menu. Every quoted marketing claim comes from the broker's own pages.

How to check any of this yourself

Every quote above links to the Global Prime file it came from. This is what to do with it.

Open the three stepsFind the words in the source, work out the fingerprint, and read what a difference does and does not prove.

Open the source and search for the words

Every quote has a link under it. Open the file, or the web page, and search it for the words we quote. The clause number next to the quote tells you where to look.

If the words are not there any more, the source may have changed after we read it. That is worth knowing too. We keep the date we read it, and a code worked out from its wording, so the quote stays checkable.

What a fingerprint is

A fingerprint is a code worked out from what a source says. Change one word and the code changes completely. We keep two codes for every file we read, and the panel on each source shows both.

The first is the code of the exact file we downloaded. The second is the code of its wording alone, with capital letters lowered and runs of spaces collapsed. When the same words are saved as a new file, the first code changes and the second one stays the same.

Only the first code can be worked out on your own computer. Save the file, then run one of these, putting the name of the file you saved where the example is. The panel on each source prints the command with that source's real file name already in it.

macOS or Linux:
  shasum -a 256 the-file-you-saved.pdf

Windows:
  certutil -hashfile the-file-you-saved.pdf SHA256

The two codes are different from each other, and they are not meant to match. Comparing one against the other proves nothing.

What a difference means, and what it does not

A different file code on its own proves nothing. A PDF saved again with a new date inside it is a new file saying exactly the same thing.

A different wording code means the words themselves changed. That is the one that matters, and it is why we keep it.

Even then, a change is not proof of bad faith. Companies update their documents. What this report says is what the document said on the day we read it, and every quote carries that date.

A source that is a web page and not a file has no file to save, so only the code of its wording is shown.

How this report is made

Every clause quoted above comes from a document Global Prime publishes on its own website, downloaded and hashed on the date shown, with the clause number and page recorded so any reader can check it. We do not allege anything the documents do not say, and we do not judge Global Prime on anything other than its own published terms and its own public marketing. Where a clause has a qualifier that softens it, the report says so. Last read Oct 15, 2026.

If you represent Global Prime and a clause has changed, been withdrawn, or is being read out of context, tell us and we will re-read the documents and update this page. Corrections from the broker are welcome and are published with the reading they change. Contact us.

This is a reading of a contract, not legal advice and not a ruling on Global Prime. Whether its licence is real and current is a separate check on the broker profile.

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