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

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

  • #1
  • First Post: Edited Aug 7, 2024 10:45pm Apr 7, 2021 2:28am | Edited Aug 7, 2024 10:45pm
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

Transparency: We offer a public Discord community

We offer anyone access to our public Global Prime Discord community.

You can imagine if you ever ran into an issue with us you could display it on the Discord for all of our clients to see. This holds us accountable to you.

We run competitions, learn from our community when they have suggestions and talk markets and trading with you guys all day long.

Wouldn't it be nice if your broker did the same? Join the conversation here: https://www.globalprime.com/discord/


Transparency: Automated Trade Receipts

Automated Trade Receipts to verify which Liquidity Provider filled your trade (and more!)

Automated Trade Receipts is a way of showing you that we do not run b-books or profit from your losses.

They are extremely detailed showing which liquidity provider filled your trade, slippage if any, execution times, spread, the full order book and mark outs!

It gives you the tools and information to hold us accountable. If our performance isn't up to par, you'll know about it first.

These trade receipts promote the removal of conflicts of interests and gives you the confidence to focus on your trading.

Check out the trade receipts here: https://www.globalprime.com/trade-receipts/

Cheers,
Jeremy
  • #2
  • Apr 7, 2021 3:33am Apr 7, 2021 3:33am
OH MAN! many thanks for sharing!@ let me finish shaking the dust off, I just fell outta my trading chair!
OH SHIT! BWHAHAHAHAHA!
  • #3
  • Apr 7, 2021 3:37am Apr 7, 2021 3:37am
How refreshing. Hope this thread doesn't get deleted.
  • #4
  • Apr 7, 2021 3:41am Apr 7, 2021 3:41am
Quoting forevermaat
How refreshing. Hope this thread doesn't get deleted.
When something or information is true, they always find a way of discrediting it. But for this, the industry is so rotten to the core and most websites are paid to just do that. Hopefully in the near future something changes.
Titan Black
  • #5
  • Apr 7, 2021 4:00am Apr 7, 2021 4:00am
When you read some brokers legal documents of which a few read you get to know who's on your side and who is not. How do you expect to be profitable yet from the very first start all you get is a big obstacle? You might have a good strategy but when your broker is working against you then you can never reach your potential. It's really absurd when you ask a broker to show you how your order was filled and they cannot. They keep saying that the information is cannot be given to you as that will show what liquidity provider filled your trade and in the real sense all they did was be the counterparty to your trade. This is sickening. I wish this regulatory bodies could do something about it but what do i know. As we saying keep walking change is inevitable.



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Titan Black
  • #6
  • Apr 7, 2021 4:17am Apr 7, 2021 4:17am
Quoting forevermaat
How refreshing. Hope this thread doesn't get deleted.
yeah its going to be some b bookers shitting in their pants on this one!

Hats off to ya Jeremy! excellent post and links! saw all the videos! top notch!
b bookers to hell
  • #7
  • Apr 7, 2021 10:40am Apr 7, 2021 10:40am
Global prime, great to see you on here eventually! All I can say is a massive thank you to you and all the team, to be able to trade in the FULL confidence that transparency and true ECN/NDD fashion, and are prepared to back this up with features such as trade receipts and a Discord channel where literally Clients can ask any question, and it will get answered honestly and straight to the point, no BS!.

Having traded for 15 years with a number of brokers, including most of the big names and by a country mile the customer service, trade execution, funding/withdrawal process at Global Prime is setting the standard for the industry.

If you're considering a broker as a new or experienced trader, I would challenge you to look at all reviews across the many available sites and the results will speak for themselves, why would you possibly go elsewhere?

Run the 7 question test with your current broker, it's the only way you'll know if your broker is running you on A or B book.
  • #8
  • Apr 8, 2021 1:17am Apr 8, 2021 1:17am
Quoting forevermaat
How refreshing. Hope this thread doesn't get deleted.
Such would disadvantage traders at a time when things are about to be put straight.
Process is the kernel of trading.
  • #9
  • Apr 8, 2021 3:36am Apr 8, 2021 3:36am
There is nothing commercial about this thread at all.
  • #10
  • Apr 8, 2021 1:15pm Apr 8, 2021 1:15pm
Very interesting broker. Unfortunately, like many other offshore brokers, USA traders cannot open an account. (If there is a way, please let me know by post or PM).

On shore (USA), as far as I'm aware, we pretty much just have Oanda and Forex.com (GAIN). If there are other on shore brokers to consider, I welcome suggestions.
  • #11
  • Apr 11, 2021 9:21pm Apr 11, 2021 9:21pm
Quoting jheprivate
Global prime, great to see you on here eventually! All I can say is a massive thank you to you and all the team, to be able to trade in the FULL confidence that transparency and true ECN/NDD fashion, and are prepared to back this up with features such as trade receipts and a Discord channel where literally Clients can ask any question, and it will get answered honestly and straight to the point, no BS!. Having traded for 15 years with a number of brokers, including most of the big names and by a country mile the customer service, trade execution,...
Thanks for the vote of confidence! This is the magic that happens when your broker is on your side. As founder I actually get to hang out with our clients and learn from them as we explore the journey of FX together as allies rather than <insert adjective here>.
  • #12
  • Apr 11, 2021 9:23pm Apr 11, 2021 9:23pm
Quoting pips4life
Very interesting broker. Unfortunately, like many other offshore brokers, USA traders cannot open an account. (If there is a way, please let me know by post or PM). On shore (USA), as far as I'm aware, we pretty much just have Oanda and Forex.com (GAIN). If there are other on shore brokers to consider, I welcome suggestions.
Wish we could help you out there at this time. In saying that a US license is not off the table for GP, exploring options.

If you qualify as ECP (Eligible Contract Participant) there are offshore brokers that can take you on including GP.

Cheers,
Jeremy
  • #13
  • Apr 12, 2021 2:05am Apr 12, 2021 2:05am
Been with GP for several years now and can say with confidence that there is no other broker out there which is as honest and transparent as GP. They go above and beyond to help you and genuinely want you to succeed and make profits. GP have many things over other brokers but here are couple of which truly stands out.
1. They have a public discord room where clients not only engage with GP staff but can also engage with other clients. This take balls tbh because if you are shady broker then you will never risk to let all your clients have an open platform for communication with each other because that will bring your shady practices out easily and quickly. It puts you at risk of having complaints of clients in public for other clients to see. GP dared to do this because they genuinely want to resolve any issues and they see issues as opportunities do better.

2. Providing mentor rooms, oh man what can I say about this. A broker who went out of the way to find these amazing mentors (specially Greg Rubin) who teach clients correct methods of trading and help newbies learn the ropes so they can be successful in trading!!!! I mean which brokers does that? Must be crazy that they actually want you to succeed as most brokers want to B book your profits so last thing they want is for you to be profitable.

3. Transparency- one word trade receipts. I never had an idea that this was a thing, no one ever told me that we can actually get trade receipts from a broker which can show us exactly which liquidity provider filled our trades. Global prime not just provides this but also its all automated so you don't have to ask anyone for a trade receipt but login to your client portal and there it is for you see/download anytime.

I can go on and on but I think you guys get the idea.

Regards,

Human
Game taught me the game. And it didnt spare me the rod while teaching
  • #14
  • Apr 12, 2021 4:24am Apr 12, 2021 4:24am
Quoting collosangy05
When you read some brokers legal documents of which a few read you get to know who's on your side and who is not. How do you expect to be profitable yet from the very first start all you get is a big obstacle? You might have a good strategy but when your broker is working against you then you can never reach your potential. It's really absurd when you ask a broker to show you how your order was filled and they cannot. They keep saying that the information is cannot be given to you as that will show what liquidity provider filled your trade and in...
Although B-book brokers clearly spell these clauses out in their compliance pages, they usually bank on the fact that clients mostly don't read through the T&Cs, just like in software installations.
Process is the kernel of trading.
  • #15
  • Apr 13, 2021 8:46am Apr 13, 2021 8:46am
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 because of the slippage/micro slippage issues with the platform. This is obviously a downside to using the type of liquidity you use and also the metatrader system itself.

Most brokers now are not b-booking their whole book, they are using netting and various other strategies to hedge. This enables them to have deeper top of the book clicks without any direct conflict of interest/without caring whether a trader wins or loses. Volume is king. You can see this in some of the larger brokers where conditions are significantly better than yours for large click traders.

So whilst I appreciate your transparency and the fact you can prove yourself in such a way, and it is a niche per se, I feel its more tailored to the smaller traders.
There is also nothing stopping your intermediary who provides you the receipts from b-booking the trades and throwing a false receipt to you for promotional reasons, after all that would be in their best interests.

Keep up the good work that you have done all these years..

Cheers
  • #16
  • Apr 13, 2021 1:40pm Apr 13, 2021 1:40pm
Quoting Takisd
Hey Jeremy, My only gripe with GP is your liquidity is not very deep and slippage happens often.
There was a guy named geektrader that used to trade 100+ lot tickets quite regularly via MT4. GP customized a feed for him. Trade receipts were available then (2014) without any issue.

Several years ago trading with RapaCapIntro (who used GP as a broker), I was approaching 300+ lots/month before I took a break.

Regarding slippage, I would need to know more specifics about what type of strategy you were trading. Preferably with specific examples. Generally speaking, trading with the prevailing momentum (trend) results in negative slippage. Trading against the momentum (counter-trend) results in positive slippage.

I was trading a grid with counter-trend trades...so positive slippage was/is normal.

Quoting Takisd
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.
GP has been offering trade receipts upon request for almost 10 years. The only difference now is that the process is automated and stored via the client portal.

Any client with FIX api access should be able to obtain granular post trade information; depends on the matching engine. Most retail traders will not have/use this access, but will instead just trade through mt4. Even an institutional client would still have to build the program necessary to gather the reports. So it is good that GP offers this trade receipt detail as a separate tool, out of the box. They will soon also be releasing historical tick data for clients to download (might also be available via Birt's Tick Data Suite...).

Quoting Takisd
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 because of the slippage/micro slippage issues with the platform. This is obviously a downside to using the type of liquidity you use and also the metatrader system itself.
Size is not a problem for GP. Neither is the ability to provide the trade receipts.

GP offers TraderEvolution, TradingView (Beta), and FIX API. MT5 might come a bit later (don't hold your breath).

Quoting Takisd
Most brokers now are not b-booking their whole book, they are using netting and various other strategies to hedge. This enables them to have deeper top of the book clicks without any direct conflict of interest/without caring whether a trader wins or loses. Volume is king. You can see this in some of the larger brokers where conditions are significantly better than yours for large click traders.
There's not that many OTC forex Prime of Primes out there. Care to name 2-4 of these "larger" brokers out there?

There is a difference between a broker saying there is no conflict of interest and actually proving it. Very few brokers are willing to do this. There is a lot of slick advertising and use of buzz words like ECN/STP/deep liquidity/etc. But no actual proof that these brokers can be held accountable to do what they say.

But there are plenty of reports on FPA scam forum showing that their broker(s):

- delete trades and/or deposits

- send fake prices to force a trader to be margin called/stop out

- slow down trade execution for several seconds or even minutes.

- delay withdrawals beyond 24 hours without a valid reason.

- stream an attractive price, but execute order at entirely different price.


Not just offshore brokers playing these games, but so-called regulated brokers (UK, USA, Au, Eu) are quite adept at these tricks as well. And they are more clever about how they implement them.

Quoting Takisd
So whilst I appreciate your transparency and the fact you can prove yourself in such a way, and it is a niche per se, I feel its more tailored to the smaller traders. There is also nothing stopping your intermediary who provides you the receipts from b-booking the trades and throwing a false receipt to you for promotional reasons, after all that would be in their best interests. Keep up the good work that you have done all these years.. Cheers
Hmmm. How would the intermediary send a "false receipt"? The trader and broker are monitoring their trading systems. And the price stream. The trade receipt is simply the record of actions that have already occurred and are recorded. Even if there was a misbehaving LP, they would just be skipped over and the more competitive LP will win the flow. Misbehavior would be nearly impossible with the sheer amount of volume, without someone noticing and subsequently removing the offending party.

Transparency when dealing with otc products is a requirement.........long overdue.
  • #17
  • Edited 3:17pm Apr 13, 2021 2:16pm | Edited 3:17pm
I like GP...but I've noticed few months back my trades where executed instantly...I made around 10k profit in the last 2-3 months and last 2 weeks or so some of my trades have suddenly "acquired" 1-3 sec delay...I still like them a lot but I've noticed this pattern with other brokers after they see your profitable. On the other hand My main account is with Oanda Canada and (they don't hide there a MM) I have never experienced a delay, no matter how much I make. IDK what to think about any of this, I'm sketched out about the whole thing...its so convoluted no one can get to the bottom. Maybe the delay is that there starting to hedge you more or whatnot...idk
  • #18
  • Apr 13, 2021 5:13pm Apr 13, 2021 5:13pm
Quoting Redbaron81
I like GP...but I've noticed few months back my trades where executed instantly...I made around 10k profit in the last 2-3 months and last 2 weeks or so some of my trades have suddenly "acquired" 1-3 sec delay...I still like them a lot but I've noticed this pattern with other brokers after they see your profitable. On the other hand My main account is with Oanda Canada and (they don't hide there a MM) I have never experienced a delay, no matter how much I make. IDK what to think about any of this, I'm sketched out about the whole thing...its so...

sound like the honeymoon period is over
  • #19
  • Apr 13, 2021 7:02pm Apr 13, 2021 7:02pm
Quoting forevermaat
{quote} There was a guy named geektrader that used to trade 100+ lot tickets quite regularly via MT4. GP customized a feed for him. Trade receipts were available then (2014) without any issue. Several years ago trading with RapaCapIntro (who used GP as a broker), I was approaching 300+ lots/month before I took a break. Regarding slippage, I would need to know more specifics about what type of strategy you were trading. Preferably with specific examples. Generally speaking,...
You sound so much like Steve Hopwood i can't control myself. How can someone from the united states speak so fondly and full of knowledge for a broker that doesn't accept US citizens?

Yes you can get a fake trade receipt. Simple, aggregator wants to book your trade, sends message "Executed by Y" and the receipt. It wouldn't be the first time its happened. Note very well, I am not accusing GP of lying. I am saying that the trade receipt, although it gives great transparency, is limited, in my opinion, to its value.

I stopped trading with GP years ago because of the slippage issues and the response I had was "thats the real market". In terms of the bigger brokers than GP there are plenty, like 30 or 40 at least. All of them using dealer strategies that don't affect traders, all of them with better execution. Spreads maybe not better but close enough. I am not talking about primes or even prime of primes. GP is a retail broker. It was originally tied to another broker via a parent and here it is. Jeremy does a great job and always has.

I simply asked, how are they going to adapt to a market that doesn't care so much about the transparency of trade receipts but cares more about the execution and size so long as they are getting paid. Which is what the new-age of dealing is doing. Its not 10 yrs ago when everyone was just b-booking and cancelling trades, those days are over , USGFX was the last of them (now named MOGAFX btw, stay the hell away from them).
  • #20
  • Apr 13, 2021 11:50pm Apr 13, 2021 11:50pm
Quoting Redbaron81
I like GP...but I've noticed few months back my trades where executed instantly...I made around 10k profit in the last 2-3 months and last 2 weeks or so some of my trades have suddenly "acquired" 1-3 sec delay...I still like them a lot but I've noticed this pattern with other brokers after they see your profitable. On the other hand My main account is with Oanda Canada and (they don't hide there a MM) I have never experienced a delay, no matter how much I make. IDK what to think about any of this, I'm sketched out about the whole thing...its so...

Do you mind posting a trade receipt regarding that.
Would really love and appreciate to see.
Titan Black
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