A Globalprimeau.com.au review that details the failings of the company
Founded in 2010 and operating without interruptions since then, the Globalprimeau.com.au Forex broker had quickly managed to attract a lot of attention in the AustralianForex markets in the few years since its foundation. Since then, the popularity of the company fell a little, unsurprisingly, but now the company is seeing another influx of users again, which is why we are going to be doing this review. You see, while the broker has been around for a while, it has also been known to be one of the inferior brokers compared to all of the ones available online. The problem with the broker lies not in the fact that it misrepresents facts about itself, but rather with the fact that the service it offers is not good. The fees that the broker charges, the trading platform it offers to its users, the customer support and the financial transactions to and from accounts, are all services that need to be improved a hundredfold before the company can even be considered to be a decent broker. Although, the broker is honest enough with its services and it does not deceive its users, which is why the broker is not considered to be a scam.
Globalprimeau.com.au review of the page, the platform
The first thing we are going to touch upon, and the main reason why we are not calling this broker a scam, is the page. The Globalprimeau.com.au FX brokerage has put in a considerable amount of effort into designing their page, and this is pretty easy to see. The page runs very smoothly ann travelling through it is incredibly fast and easy. Thee navigation being this easy means that the broker was really trying to make it a point that they are doing their best to offer you a good experience and inform about themselves. Moreover, the broker has produced a highly informative page, which allows users to learn about the services of the company with ease and without any kind of issue. The fact that the broker is so honest about what they are offering to their users is inspiring and means that the broker is not trying to be a scam, but rather is trying to establish a relationship that emphasizes honesty and communication between the broker and the trader.
The issues arise when you start learning about what the broker has to offer, or doesn’t have to offer. The main trading platform, and the only one, that the broker offers to their users is the Globalprimeau.com.au MT4. The problem with the lack of diversity is one to consider, but it is also not the main issue that we have with the platform. MT4 is a relatively old platform, and it is also quite clunky if the broker has not taken the extra effort to integrate it into the system correctly. This has not been done by the broker too well, which is why the application often fails to process the requests made by the traders on time. While this means a lag of a minute, tops, it is a huge amount of time to consider when talking about trading Forex. People end up losing thousands of dollars because of this issue, and the persistence of it throughout the years, without being fixed, is an alarming sign of the approach that the broker takes to traders.
Globalprimeau.com.au withdrawals, deposits
Something else that is quite alarming is the approach that the broker has decided to take to their withdrawals and deposits systems. When a user wants to deposit money into their account or withdraw it, there are usually more than one ways to do so with brokers in the industry. The broker we are discussing here offers credit card and bank transfer systems too, as well as Nettler. They do not have any kind of other payment systems included in their list of accepted deposit and withdrawal systems. This means that the traders are only able to use their bank cards, which is quite limiting and, for many traders, not something they might want to do. This lowers the Globalprimeau.com.au rating considerably. But the issue does not stop there. The deposits and withdrawals using credit cards are also associated with certain fees that the broker tasks the traders to deal with. These fees amount to around 4%, which might not seem much, but when talking about sums of money ends up being significant. For some traders, this 4% might even end up being a significant chunk of profit they end up losing. This causes us to further dislike the way the broker deals with their traders and makes us believe that the broker is much worse than it could or should be.
Customer support and education
We talked previously about how the broker is doing their best to establish a sense of honesty and communication between themselves and their traders. The thing is, in order to be able to establish this kind of sense of feeling, an adequate customer support system should be available. The people who work for their customer support systems are quite friendly, honest and incredibly helpful. But honesty and communication would be easier to establish if the broker’s support was easier to reach, which, at this point, is quite hard.
The problem does not lie in the fact that the broker does not provide a line of communication. On the contrary, the broker goes out of its way to provide users with a number of ways to get in touch with customer service. This includes live chat, email and a phone number for every region of Australia. The problem lies with the fact that it can be an extremely frustrating experience trying to get reach the team. It takes a very long time for them to answer. It can take up to 30 minutes for the live chat to become useful and it can take around the same amount of time for the phone call to be answered. This is a terrible issue with the broker. We like customer service to be available to the users so that they can solve their issues rather quickly. One way to do so would be to expand the call centre and the customer support centre altogether. But that is up to the broker to do themselves, rather than for us to recommend to them.
While the customer support systems might need an update, the one thing that the broker is doing very right is the fact that they are offering a very comprehensive and high-quality educational platform to their users. This little detail improves our Globalprimeau.com.au opinion by a whole lot and is another one that keeps us from giving it a terrible scammer score. The educational services are comprehensive and offer users a chance to learn all levels of important Forex industry relate techniques that change the way many traders will spend their time trading in the future.
One more issue that we find the broker to be facing is the fact that they do not offer a bonus. We are firm believers that any broker that prides themselves on having a good service should also be able to offer their users a chance to start trading with one bonus or another. This means offering either a matching deposit bonus or a no deposit bonus that a user can apply to their account to multiply the funds they have available to them. The Globalprimeau.com.au promotions are not a thing that happens and we are pretty sure this won’t be changing any time soon. This is why we are very sceptical of the broker’s ambitions of improving the quality of their service over the coming years.
Can Globalprimeau.com.au be trusted?
One more question that we would like to discuss is whether the broker can be trusted. The number one answer to this question is provided by ASEC, the most important regulatory body in the industry. According to them the broker can be trusted to at least not scam their users and allow them to trade. This is already saying something, as the ASEC license is probably one of the most reliable showcases of the trustworthiness of the broker. The fact that ASEC has given them a license for operations does not mean that they should be immediately engaged and traded with. Their services are still sub-par and should be considered to not be in any way appropriate to the needs of the modern trader.
This is pretty easy to see from the fact that the broker is very often reviewed online. The many Globalprimeau.com.au reviews that can be found online all talk about the fact that the broker, while honest in what they are offering to the users and reliable in the fact that they do not steal money from their customers, is still not up to par with some of the best brokers available across Australia. According to these reviews, most of the systems that the broker employes and the payments that the brokers have to make in order to be able to withdraw their money are not something that should be encountered by any modern trader. While the Globalprimeau.com.au scam is not a possibility, it is also not recommended that you trade with them, as the service you are going to receive is not going to be what you should be able to receive.
Final Globalprimeau.com.au opinions
It is, in the end, quite regrettable that we have to say that the broker is not god. While the broker has spent many years operating on the markets, it has failed to innovate over the years of its operation and has failed to offer services that would be appropriate in the modern Forex markets. While the broker is a far cry from being a Globalprimeau.com.au fraud, it is also a far cry from being an actually useful broker to most traders. We recommend that, if you are considering starting to trade with an Australian broker, you stay away from this one and find yourself a company that offers a modern service.
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