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Global Prime - The World's Most Transparent ECN Broker?!

  • #41
  • Apr 21, 2021 8:39am Apr 21, 2021 8:39am
Quoting Saxio
{quote} Hi Jeremy, is this new commission schedule available for worldwide clients or only Australians ?
Worldwide until we shut the floodgates as we are currently in beta test. If you are an already existing client just ask nicely on Livechat we should be able to hook you up.

Gonna cross post the below from another thread as it's probably useful information for some.

Quoting Bicarus
{quote} Hey Jem, I know that full disclosure is your mantra and I appreciate it. That said, care to shed light on your company's structure? (Global Prime / Fusion Markets / Fxtrading.com / RubixFx / Gleneagles) Are the 4 companies, Global Prime / Fusion Markets / Fxtrading.com / RubixFX just different brands under the Gleneagles Umbrella? From what i recalled years back, Global Prime used to be independent, operating under its own AFSL and managing its own price feed and execution. Since when did Gleneagles start to come into play? Is Global Prime...
Of course.

Global Prime was created as the retail arm of Gleneagle, as such it has it's own AFSL and Seychelles license.

Gleneagle is the parent company with the liquidity + prime broking relationships.

Almost 10 years ago our Global Prime team took over management of the entirety of the liquidity and PB relationships for Gleneagle so we have always been in full control of the pricing, execution etc for Global Prime.

FX Trading and Fusion Markets are trading names of Gleneagle and fall under the Gleneagle license. Global Prime operates independently to any of the brokers under the Gleneagle group and we have no say or oversight into how run their businesses - any questions related to them should be asked of them.

When we started at GP we came in for retail but a fascination with PBs and structuring FX liquidity means we ended up growing the Global Prime brand to include a large institutional component. As such there's quite a bit of crossover however Global Prime is becoming more independent.

We do a lot of the following work inside GP now however Gleneagle has always assisted Global Prime with: Technology, Accounting and Audit, Payment processing, Client onboarding and support, Compliance and complaint resolution, Treasury management of bank accounts and ensuring compliance and integrity of the client monies trust deposits in a Tier 1 Banks.

Hope that helps!

Cheers,
Jeremy
  • #42
  • Apr 22, 2021 3:22am Apr 22, 2021 3:22am
Pssst... A little birdy told me you can now trade on TradingView using your Global Prime account. It's a soft launch so stocks aren't in there yet (~2 weeks).

Simply login on the Trading Panel section of TradingView using your Trader Evolution credentials and you are good to go.

If you don't have a LIVE TraderEvolution account you can open one from inside your Client Portal.

Positions are sync'd on both TE and TV for a true cross-platform trading experience.

Jump into our Discord community chat on #trader-evolution channel to join the conversation on TV. https://www.globalprime.com/discord/

Huge moment for our clients!!

Cheers,
Jem
  • #43
  • Apr 22, 2021 7:03am Apr 22, 2021 7:03am
Hi Jemook,
Will Global Prime ever be avail to U.S. Traders? If so when? Thank you.
  • #44
  • Apr 24, 2021 8:56pm Apr 24, 2021 8:56pm
Quoting acetrader
Hi Jemook, Will Global Prime ever be avail to U.S. Traders? If so when? Thank you.
Maybe one day, but don't hold your breath for any time soon. There's other licenses we are looking at bringing on.

Cheers,
Jeremy
  • #45
  • Apr 26, 2021 6:51pm Apr 26, 2021 6:51pm
Hi Mr jemook, did Global prime accept Iraqi trader? thanks.
  • #46
  • Apr 27, 2021 7:00am Apr 27, 2021 7:00am
Quoting Takisd
Hey Jeremy, My only gripe with GP is your liquidity is not very deep and slippage happens often. The aggregators you use for your liquidity offer you that advantage of allowing you to show trade receipts, but most liquidity providers do not allow that. If your broker grows significantly, you are likely going to need to tap into liquidity that doesn't allow the receipts. How do you plan to rectify that transparency gimmick when you do/if you do need to increase your pool size. Right now, in my opinion, you need to increase your top of the book size...
too funny dude, you are either totally clueless, or are reffering to something from 10 years ago? just about everything you say above is incorrect, the liquidity isnt too deep when? 10 years ago? slippage is at least asymetrical, again, you talking about 10 years ago? when you last tried GP, when they were "new"?
ever try Trader evolution? I guess not or you might see the real liquidity?> how can you carry on about top of book at a broker you havent used in 10 years? dude wake up and smell the coffee? you are so clueless it isnt even funny, everything you say about is pretty much wrong about this broker, or based on your experience form 10 years ago, or maybe 8 years ago, do tell the truth eh? you are leading noobs astray with your old info..... smaller traders LOLZ? right the ones that can trade up to 1000 lots at GP, as opposed to your LD ICM at 100 lot max orders? jokes right?
  • #47
  • Apr 29, 2021 1:38am Apr 29, 2021 1:38am
Quoting Jemook
{quote} Maybe one day, but don't hold your breath for any time soon. There's other licenses we are looking at bringing on. Cheers, Jeremy
Jeremy,


I have been told by another broker that all trades ,even the smallest sizes are sent to the banks and other liquidity providers,
The minimum with Interactivebrokers is 25K , do some banks accept smaller size than 25K ?
  • #48
  • Apr 30, 2021 12:45am Apr 30, 2021 12:45am
Quoting Jemook
Pssst... A little birdy told me you can now trade on TradingView using your Global Prime account. It's a soft launch so stocks aren't in there yet (~2 weeks). Simply login on the Trading Panel section of TradingView using your Trader Evolution credentials and you are good to go. If you don't have a LIVE TraderEvolution account you can open one from inside your Client Portal. Positions are sync'd on both TE and TV for a true cross-platform trading experience. Jump into our Discord community chat on #trader-evolution channel to join the conversation...
I managed to do that, with some difficulty, but there it is. No trades placed yet.

Attached Image (click to enlarge)
Click to Enlarge Name: 2021-04-30_15-24-46.jpg Size: 335 KB
It takes a lot for me to IGNORE you, but you can try.
  • #49
  • May 2, 2021 2:01pm May 2, 2021 2:01pm
hi Jem,

Interesting stuff. Looks like I have to open an account

Thanks
Al
  • #50
  • May 4, 2021 12:40am May 4, 2021 12:40am
Quoting Saxio
{quote} Jeremy, I have been told by another broker that all trades ,even the smallest sizes are sent to the banks and other liquidity providers, The minimum with Interactivebrokers is 25K , do some banks accept smaller size than 25K ?
LPs can definitely accept 1k tickets and the Prime Brokers settle the net position at end of day with the liquidity providers.

Quoting Erebus
{quote} I managed to do that, with some difficulty, but there it is. No trades placed yet. {image}
Awesome, would love to hear how you find trading on TradingView and don't forget to check out cross-platform management of your positions in TraderEvolution platform. Pretty cool feature.

Quoting almotor007
hi Jem, Interesting stuff. Looks like I have to open an account Thanks Al
Great, let us know how you find trading at GP !

Cheers,
Jeremy
  • #51
  • May 4, 2021 4:49am May 4, 2021 4:49am
Quoting Jemook
Welcome to Global Prime! I'm Jeremy, one of the co-founders of https://www.globalprime.com/ and I've been a Forex Factory member for 10 years now. If you are lucky enough to already be trading with us then you'll know what we are about. We've been in the game for almost ten years and have some of the happiest clients out of any broker worldwide. Check out our Forex Peace Army reviews (4.7 out of 5 stars from over 320 reviews) here: https://bit.ly/31UwOkg I recommend watching this interview with Etienne & I - we go through how...
Hi Jeremy, thank you for your impressive introduction. I highly appreciate the transparency GP offers. I was wondering if

  1. I could connect my trading platform cTrader to a GP account? This platform works best for me. Any plugins for this, or would this require custom build connection/application, if this is even possible? Switching again to other platforms and getting into a new learning curve is a no-go for me.
  2. GP has plans to offer cryptocurrency at some stage? I could not find any on the GP website.

This would make the perfect match for me. Looking forward. Best regards,

BT

  • #52
  • May 4, 2021 7:27pm May 4, 2021 7:27pm
I have been with Global Prime for years and am very happy with them. No fiddling with the charts or price feed, orders are executed seamlessly. I would not want to trade forex anywhere else.
  • #53
  • May 5, 2021 6:10am May 5, 2021 6:10am
Quoting BataviaTrade
Switching again to other platforms and getting into a new learning curve is a no-go for me.
This is a general problem with brokers. I do not understand why brokers (except a few) do not offer just a server API or a standalone API in the first place, so that any 3rd party can connect directly and that traders are not limited to a particular proprietary terminal application. You can have a proprietary terminal application too, but the most flexible solution (API) in the first place. Anyway, I can connect my own trading terminal to either MT4/5 or now TraderEvolution, so that in my case it is a minor nuisance.
GP do have crypto "currencies" (why people call these bockchain implementations currencies?).
Return To Disorder
  • #54
  • May 6, 2021 6:12pm May 6, 2021 6:12pm
Quoting Jemook
{quote} LPs can definitely accept 1k tickets and the Prime Brokers settle the net position at end of day with the liquidity providers. {quote} Awesome, would love to hear how you find trading on TradingView and don't forget to check out cross-platform management of your positions in TraderEvolution platform. Pretty cool feature. {quote} Great, let us know how you find trading at GP ! Cheers, Jeremy
I was wondering why GP has only 1 year back of volume data on Trading view? do you plan to expand these data (daily)? Oanda has more 12 years of daily volume..
  • #55
  • May 9, 2021 10:33am May 9, 2021 10:33am
Quoting Miksiu
{quote} I was wondering why GP has only 1 year back of volume data on Trading view? do you plan to expand these data (daily)? Oanda has more 12 years of daily volume..
Well, GP hasn't been on trading view except for recently, and historical volume data is available on TraderEvolution — Multi-Market Brokerage Trading Platform which was only added about a year ago, but live daily trading data (VOLUME), is available in mt4 going back 20 years.,
https://cdn.discordapp.com/attachmen...2136/eggp2.png
  • #56
  • May 10, 2021 2:30am May 10, 2021 2:30am
Quoting BataviaTrade
{quote} Hi Jeremy, thank you for your impressive introduction. I highly appreciate the transparency GP offers. I was wondering if I could connect my trading platform cTrader to a GP account? This platform works best for me. Any plugins for this, or would this require custom build connection/application, if this is even possible? Switching again to other platforms and getting into a new learning curve is a no-go for me. GP has plans to offer cryptocurrency at some stage? I could not find any on the GP website. This would make the perfect match for...
Hi Batavia,

Thanks for the kind comments not possible to connect cTrader. TraderEvolution is our answer to cTrader and we were able to connect the backend to TradingView for a proper multi-platform trading experience as you can cross manage your positions on both platforms in real time. Have a play with TraderEvolution - it's quite similar in look and feel to cTrader so might find yourself easing in better vs other platforms.

We do offer Crypto CFDs but the interests rates we get from our LPs aren't the most ideal so I'd recommend trading crypto properly through an exchange to get the full experience and ability to hold the underlying asset. In saying that we are working on a better Crypto CFD offering so keep your eyes peeled.

Quoting Le.Metier
I have been with Global Prime for years and am very happy with them. No fiddling with the charts or price feed, orders are executed seamlessly. I would not want to trade forex anywhere else.
Awesome! Appreciate you sharing this. Great to be working with you Le.Metier, reach out to me on Discord and say hey if you are on there.

Quoting rockit
{quote} This is a general problem with brokers. I do not understand why brokers (except a few) do not offer just a server API or a standalone API in the first place, so that any 3rd party can connect directly and that traders are not limited to a particular proprietary terminal application.
We do offer FIX API connections if you'd like to plug in your own platform. You'd need to be able to license cTrader as an individual in Batavia's example to connect it via FIX API and I don't think that's possible. Here's the details on our FIX API solution: https://www.globalprime.com/institutional/fix-api/

Quoting Miksiu
{quote} I was wondering why GP has only 1 year back of volume data on Trading view? do you plan to expand these data (daily)? Oanda has more 12 years of daily volume..
@rmrf thanks for your answer. @Miksiu It's a good question and we can definitely add that in. I've tasked the team with investigating this and we'll work on it. We definitely have the data.

Cheers,
Jeremy
  • #57
  • May 10, 2021 2:37am May 10, 2021 2:37am
Just released Episode 7 in our 'How Forex Brokers Make Money' Series.

Some people defend the B-book model under the guise of 'market making is critical for the offering of CFDs'. This is a play on words since market making and B-booking are two different things, and neither requires the other to exist.

What is market making and how is it distinct from B-booking? Is a B-book broker a market maker? Are B-books required for CFDs and market access? Do market makers and B-books warehouse risk the same way?

All these questions and more are answered inside. Any questions or comments feel free to ask.

Inserted Video


Cheers,
Jeremy
  • #58
  • May 12, 2021 7:11am May 12, 2021 7:11am
The Seven Deadly Questions really do work. I asked my broker the first question and the response I got was "Why do you ask?" in a more diplomatic way of phrasing.
  • #59
  • May 13, 2021 7:48am May 13, 2021 7:48am
Hey Jeremy, I appreciate you going online and putting your neck out here. I have to say I have been pretty disappointed with your offering to date. The liquidity you have offered me hasn’t been great, the spreads you quote are only good in really small size. As soon as I tried to trade a few lots your spreads are way wider than the competition.

Also I notice you b-book all flow up to $100k in your terms and conditions. Which appears completely contrary to your mantra.. I’m trading larger than this size so I assume that’s why I’m not not getting good spreads.

best of luck, not for me.

L
  • #60
  • May 13, 2021 7:37pm May 13, 2021 7:37pm
Quoting lukehandcool
Hey Jeremy, I appreciate you going online and putting your neck out here. I have to say I have been pretty disappointed with your offering to date. The liquidity you have offered me hasn’t been great, the spreads you quote are only good in really small size. As soon as I tried to trade a few lots your spreads are way wider than the competition. Also I notice you b-book all flow up to $100k in your terms and conditions. Which appears completely contrary to your mantra.. I’m trading larger than this size so I assume that’s why I’m not not getting...
Hi Luke,

Thanks for reaching out.

We don’t B-book which is the act of profiling losing clients into a seperate book with the intent to profit from their losses.

Our website discloses how we manage small trades on these two pages:

https://globalprime.com/best-execution/
https://globalprime.com/disclosures/

We batch hedge out all risk at very small sizes of ~100k and we don’t profile clients or use ‘Books’ to manage and internalise risk.

Contrast this to a B-Books which aims to internalise most of the losing flow and run huge risk on it in order to capitalise on client losses. B-books are also poorly disclosed vs batch hedging which we can disclose as it is a purposely “dumb” system which doesn’t aim to make money on the tiny risk it takes.

It’s simply a cost saving mechanism that allows us to offer our ECN/STP offering without paying unnecessary minimum ticket fees at our Prime Brokers which would need to be passed on to the client. It also does not profile any clients or choose which trades to batch hedge - it’s simply done via disclosed small trade sizes to save fee’s.

See this video for a more thorough explanation on the difference between B-booking and market making.
Inserted Video


Please DM me so we can check your trades with our trade receipts. You’re also welcome to do the same and post the results on here for everyone to see. We share our slippage stats for different trade sizes on this page: https://www.globalprime.com/trading-...ions/slippage/

Looking forward to investigating any issues you may be facing.

Quoting Sansz
The Seven Deadly Questions really do work. I asked my broker the first question and the response I got was "Why do you ask?" in a more diplomatic way of phrasing.
That’s it, I always wonder if the industry is so proud about their b-books why can almost no broker answer those seven questions proudly? It’s a great tool for traders to test their broker and to finally see for themselves the lack of transparency and the embarrassment that b-book brokers have about their profit models.

Have a great day.

Cheers,
Jeremy
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