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Global Prime Discussion

  • #1
  • First Post: Jul 5, 2015 9:34am Jul 5, 2015 9:34am
So I have heard about them alot and they have been recommended to me via Skype and their reviews are very positive.

They are also mentioned in these forums here on Forexfactory. But I haven't really seen a discussion thread about this broker yet.


So yeah, anyone who has experience with this broker, I would love to hear your opinion on this.
  • #2
  • Jul 6, 2015 3:44pm Jul 6, 2015 3:44pm
http://www.forexfactory.com/showthre...21#post8350121
  • #3
  • Jul 8, 2015 4:41am Jul 8, 2015 4:41am
I've been trading for 5 years. During 5 years, I already changed broker many times, mostly ECN broker with tight spread because I'm scalping. You can name a few, like UK, AU, Cyprus based broker.

The latest broker I switched to was Global Prime. It was almost 2 years ago. From my experience, their execution is best among any broker that I tried.
I only use stop order to enter the trade, and any slippage will noticeable. In normal market condition their slippage vary from 0-0.4 pips. Although it's minimal, they don't encourage news trading to their client. Sometimes I get positive slippage on my take profit order on fast moving market (same thing happened to my stoploss order too). So I think they are fair.

Withdrawal is fast, 1-2 days to my bank account. The withdrawal cost total almost $40 charged by the corespondent bank.

I don't have any affiliation or work for them, only a satisfied customer. If you look for broker, please look for another broker.
In order to keep their client base not crowded and decrease their quality service, like happened to many popular broker
  • #4
  • Jul 9, 2015 5:26am Jul 9, 2015 5:26am
http://www.forexfactory.com/showthre...21#post8350121
  • #5
  • Jul 11, 2016 7:40am Jul 11, 2016 7:40am
I've used this broker for quite a while, as well as others.
One thing that stands out with this broker is I never once had slippage, ever. All orders were pending with sl and tp and I never got slipped on entry or exit. Not even 0.1 pip - which is unusual in my experience.
  • #6
  • Jul 11, 2016 10:25am Jul 11, 2016 10:25am
FXOPEN AU beats global prime in terms of commission, execution, leverage and spread.

Global prime is a sister company of IC markets so they are more or less the same shit. IC markets slip every order a few pips while global prime slip big time once a while. Spread is higher than most Australian brokers. Pepperstone seems to be the largest forex broker but I have no experience.

It is funny that someone said never had slippage. Only Market maker can do that but then market makers can screw you up by lock up trades, slow execution, widening spread, etc. Slippage is inevitable when work with a broker/dealer like global prime.

do not go there before u try pepper or fxopen.au. It is just an average fx broker with not much standout.
One thing special is that u can request a receipt from them when u get a big slippage and u can see order rejection from the receipt to understand why the slippage.

u got to find out by yourself. people here, including me, have very low credibility in general. what u read here is more likely wrong than right...
  • #7
  • Jul 12, 2016 3:59am Jul 12, 2016 3:59am
Quoting demark1
FXOPEN AU beats global prime in terms of commission, execution, leverage and spread. Global prime is a sister company of IC markets so they are more or less the same shit. IC markets slip every order a few pips while global prime slip big time once a while. Spread is higher than most Australian brokers. Pepperstone seems to be the largest forex broker but I have no experience. It is funny that someone said never had slippage. Only Market maker can do that but then market makers can screw you up by lock up trades, slow execution, widening spread,...

Global Prime FX is a division of Gleneagle Securities. Rubix FX is also owned by Gleneagle Securities - so i guess they're a sister company.
International Capital Markets PTY isn't a sister, niece or aunty.

It is funny that I never had slippage with Global Prime (over a hundred trades) because I was placing the exact same pending orders with another reputable European Broker. Average slippage was probably about 0.2 pips with other brokers, sometimes in my favour, sometimes not in my favour. Usual slippage doesn't bother me.
I don't know why I never had any slippage, I don't know how they aggregate orders, I never asked for a trade receipt from Global Prime (why would I?).

I can't comment on FXopen - haven't used them. Seems more volume goes through Global Prime though.
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  • #8
  • Jul 12, 2016 9:54am Jul 12, 2016 9:54am
During the SWISS crazy event, traders that used this broker that trade e/chf pair got their SL filled so to me, this is a plus plus sign.
  • #9
  • Jul 13, 2016 7:00am Jul 13, 2016 7:00am
Very interesting read about GP.

http://forums.babypips.com/forex-bro...bal-prime.html
  • #10
  • Jul 17, 2016 6:33pm Jul 17, 2016 6:33pm
Quoting BubaYaga
{quote} Global Prime FX is a division of Gleneagle Securities. Rubix FX is also owned by Gleneagle Securities - so i guess they're a sister company. International Capital Markets PTY isn't a sister, niece or aunty. It is funny that I never had slippage with Global Prime (over a hundred trades) because I was placing the exact same pending orders with another reputable European Broker. Average slippage was probably about 0.2 pips with other brokers, sometimes in my favour, sometimes not in my favour. Usual slippage doesn't bother me. I don't know...
Never had slippage means global prime is a market maker. end of story. Funds can be transfer between IC markets and global prime internally so they are sister companies.

It is very unlikely that global prime has more real volume than fxopen because fxopen has 200k clients while global prime might only have less than 10k( I do not know the exact number).

The volume on myfxbook is the number of ticks and it has been pointed out many times on this forum.

0.2 pip slippage is really good. which one is your reputable European Broker?
slippage with fxopen is much higher than that.
  • #11
  • Dec 17, 2016 1:19pm Dec 17, 2016 1:19pm
Global deposit withdrawal methods are missing, only bank cards, bank transfer and neteller. Not enough at all
Good trades.
  • #12
  • Dec 18, 2016 9:06pm Dec 18, 2016 9:06pm
Quoting demark1
Never had slippage means global prime is a market maker. end of story.
Lol, this.

Ironic that you say this is a negative. But when you start trading size, you will soon find out why it is a negative.


Quoting demark1
Funds can be transfer between IC markets and global prime internally so they are sister companies.
Most brokers offer 'broker to broker' transfer. It doesn't mean they are necessarily owned by one another.
  • #13
  • Feb 7, 2017 8:22am Feb 7, 2017 8:22am
Hello, Have anyone experienced this with global prime before? I put my stoploss and even though there is no spread widening at the time, price just pass through my stop and auto close 5 pips later... I have several trades that like this ranging from 1 to 3 pips more than my sl despite the fact that spread at the time is only 0.7 to 0.9 pips... I have been contacting their customer service and they said it was some problems from their end and refund me the different however now I feel it's really weird that I got trades that didn't fill the stop loss properly like that so frequently. I am wondering if it's normal or not. Could you guys help me plz?

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  • #14
  • Feb 7, 2017 10:17am Feb 7, 2017 10:17am
Quoting piupiu
Global deposit withdrawal methods are missing, only bank cards, bank transfer and neteller. Not enough at all Good trades.
Global deposit withdrawal methods are missing, only bank cards, bank transfer and neteller. Not enough at all Good trades.
  • #15
  • Feb 7, 2017 11:11am Feb 7, 2017 11:11am
Quoting Badem
{quote} Lol, this. Ironic that you say this is a negative. But when you start trading size, you will soon find out why it is a negative. {quote} Most brokers offer 'broker to broker' transfer. It doesn't mean they are necessarily owned by one another.
It is internal transfer, not broker to broker which takes a few days They are not necessary owned by the same owner, but the trading condition is similiar. IC rob you by a few pips on every trades while global prime manipulate u by hundreds of pips on serious events.

Have u read the fxcm story? Brokers like these outsource market making. They are not better than market makers.
  • #16
  • Feb 7, 2017 11:23am Feb 7, 2017 11:23am
Hello, can you help me with my trade above with Global prime? What could be the explaination in the case where no spread widening but still stop loss is not executed and auto close few pips later? is it being manipulated by global prime? Sorry I am a newbie .
  • #17
  • Feb 8, 2017 10:03am Feb 8, 2017 10:03am
Quoting genienguyen
Hello, can you help me with my trade above with Global prime? What could be the explaination in the case where no spread widening but still stop loss is not executed and auto close few pips later? is it being manipulated by global prime? Sorry I am a newbie .
Yeah, I think delay of execution means profit for global prime. The order is not closed at your stops by your broker so they put a few more pips in their pocket.

There are many brokers outsource market making and split the profit made from clients between the broker and their upstream market makers.

You can request a trade receipt from global prime to see what happened. For a new customer they can give a refund to show goodwill. However if you ask for refund repeatedly, good luck.
  • #18
  • Aug 23, 2017 10:22am Aug 23, 2017 10:22am
Quoting demark1
{quote} Yeah, I think delay of execution means profit for global prime. The order is not closed at your stops by your broker so they put a few more pips in their pocket. There are many brokers outsource market making and split the profit made from clients between the broker and their upstream market makers. You can request a trade receipt from global prime to see what happened. For a new customer they can give a refund to show goodwill. However if you ask for refund repeatedly, good luck.
I just chatted with Global Prime about this matter and they said only market makers can offer guaranteed stops. So I assume they take a few pips from you along the way. I had the same experience with FXCM. Currently looking for another broker. Considering Global Prime, but now Tickmill is on the list. Any thoughts?
  • #19
  • Aug 23, 2017 10:39am Aug 23, 2017 10:39am
Quoting demark1
FXOPEN AU beats global prime in terms of commission, execution, leverage and spread. Global prime is a sister company of IC markets so they are more or less the same shit. IC markets slip every order a few pips while global prime slip big time once a while. Spread is higher than most Australian brokers. Pepperstone seems to be the largest forex broker but I have no experience. It is funny that someone said never had slippage. Only Market maker can do that but then market makers can screw you up by lock up trades, slow execution, widening spread,...
So basically if non-market makers like FXCM and Global Prime are stealing pips from your trades, and market-makers trade against you (or otherwise rip you off), what are the alternatives? Any good brokers out there these days, with some sense of morality ? Or aren't there any, and is this why 99% of day traders are losing?
  • #20
  • Sep 3, 2017 3:30pm Sep 3, 2017 3:30pm
Quoting BataviaTrade
{quote} I just chatted with Global Prime about this matter and they said only market makers can offer guaranteed stops. So I assume they take a few pips from you along the way. I had the same experience with FXCM. Currently looking for another broker. Considering Global Prime, but now Tickmill is on the list. Any thoughts?
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