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

Had fun interviewing GPs resident in-house Senior trader and self proclaimed sportsman of the world Greg Rubin.

We discuss Greg’s career trading the markets, spanning over 13 years.

Greg started his Career in 2007 just as the GFC was about to kick off, stead strong in his ambitions He pushed through and was promoted to Head of Trading at that current broker. Before moving to Australia to join us here at Global Prime.

Greg runs is very own educational Mentor Room with Global Prime sharing from his wealth of experience, teaching his strategies and educating traders on the nuances of the infamous Elliott Wave, Greg's an expert. You can join via our Discord.

https://trade.globalprime.com/greg/

Stay tuned for more interviews on traders, clients and industry participants.

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Hi Jeremy, I have to say I disagree. A b - book is internalised flow which is what you are doing up to an exposure of 100k and I assume you are doing that as you have a smaller balance sheet that other bigger players. You do say in you terms that you only batch up net exposures so if a small client sells then another buys (the same amount) there is nothing to batch as you have no exposure. You are therefore capturing all aspects of a clients position here, including losses over and above the spread they pay. I've had a look at how other providers do this and I did notice that Plus 500 for example hedge very little and therefore have quite large pnl swings in their reported revenue - as a contrast IG claims a lot more of their flow is hedged - so they have a smoother pnl profile. That's the main reason some providers hedge more or less. I'm not sure if its much to do with what you say of trying to treat winning and losing clients differently. If they all did there would a lot more complaints from clients of firms that do this on places like Forex Factory.

I genuinely wish you luck with what you are doing but you cannot claim that you do not run a b-book as you detail how you do this in the links you have provided. You may not profile clients - but many firms also claim not to do this. In terms of you claims of stop hunting etc I'm not sure that is correct either, I've been trading for years and traded with many providers and in Australia for example if you think a provider has done this then they need to prove that the underlying market traded at the level of your stop. If they lie - AFCA (the complaints body) will adjudicate this and always rule in the clients favour - that's my experience.
B-book dose not necessarily equal bucket shop. Internalizing green flow isn't a bad thing.

As for profiling traders, whoever is providing the liquidity or making the market has to protect themselves from toxic flow.
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...

what spread you get when trading a few lots ?
You actually get great spreads from GP for trades in up to 1 lot (USD100k) of exposure. Anything beyond that I can’t say but my experience hasn’t been great. The GP website shows their spreads but I would say they are indicative and only apply to small size. The other problem with providers like GP when they lay off all flow is that your stops also get executed poorly as they also don’t provide great liquidity here too as they have to pass on all fills from the Liquidity provider. So you actually end up paying far more than what you think.

in response to Mr Fish, of course b booking is not a bad thing. GP also do it as I have pointed out. I’m not making anything up it’s clearly detailed in the T&C’s. Toxic flow, which is latency arb, and front running (which is illegal) no one can handle, GP
will also turn this away or their own Liquidity providers will shut them down otherwise. Clients just making money is a great thing for everyone either taken on the book or laid off if a provider so chooses in exactly the same way as GP claim to be dining with anything over 1 lot. A client that makes money is gold for any provider as they normally trade in good size and last indefinitely as a client.

There could bucket shops out there that do profile clients but as a client why would anyone put up with it for anything more than one bad experience. It’s not exactly a solution to a long term business strategy..
Hey Traders, we've got a new interview for you all. I interviewed our good friend and traveling trader Etienne Crete from Desire to Trade.

These interviews have been getting some really great feedback and we love the community getting behind them.

Enjoy the interview and stay tuned for more. If there's anyone you'd like to see interviewed or if you have any tips, hit me up!

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Some of the topics covered:

0:50 Where did you start?
2:14 Desire to Trade
3:34 Tips getting in touch with 'industry greats'
7:08 How would you describe your style of trading
10:10 What's the landscape of the market like
12:18 Tools for traders
13:55 Prop trading
16:00 What's your favourite dish from where you've travelled
16:46 Has a country helped you with your trading
18:10 Education for traders
19:30 How to avoid scams
21:37 Tips on being engaging to an audience
27:50 How has the broker scene developed over the years and what are retail clients looking for
29:00 Is there anything in particular that your clients are looking for in a broker, having their capital safe!
30:30 Global Prime mentor rooms
31:00 What are your plans for the rest of the year
32:00 Final words

Cheers,
Jeremy
Quoting lukehandcool
You actually get great spreads from GP for trades in up to 1 lot (USD100k) of exposure. Anything beyond that I can’t say but my experience hasn’t been great. The GP website shows their spreads but I would say they are indicative and only apply to small size. The other problem with providers like GP when they lay off all flow is that your stops also get executed poorly as they also don’t provide great liquidity here too as they have to pass on all fills from the Liquidity provider. So you actually end up paying far more than what you think. in response...


What products do you trade? Do you have a picture of the broker depth which you're using elsewhere?
Quoting lukehandcool
You actually get great spreads from GP for trades in up to 1 lot (USD100k) of exposure. Anything beyond that I can’t say but my experience hasn’t been great.
Curious about these 1+ lot trades. What you trade, when you trade it. GP shows depth of market in Trader Evolution (example, from EUR session 31.05.21)...
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  • Post #69
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  • Edited 3:52pm Jun 9, 2021 10:01am | Edited 3:52pm
Quoting lukehandcool
Hi Jeremy, I have to say I disagree. A b - book is internalised flow which is what you are doing up to an exposure of 100k and I assume you are doing that as you have a smaller balance sheet that other bigger players. You do say in you terms that you only batch up net exposures so if a small client sells then another buys (the same amount) there is nothing to batch as you have no exposure. You are therefore capturing all aspects of a clients position here, including losses over and above the spread they pay. I've had a look at how other providers...
BUSTED ...?

https://www.forexpeacearmy.com/commu...ir-trap.70132/
Quoting Saxio
{quote} BUSTED ...? https://www.forexpeacearmy.com/commu...ir-trap.70132/
Not surprised at all. Just a gimmick for retail traders.
Quoting Jemook
Hey Traders, we've got a new interview for you all. I interviewed our good friend and traveling trader Etienne Crete from Desire to Trade. These interviews have been getting some really great feedback and we love the community getting behind them. Enjoy the interview and stay tuned for more. If there's anyone you'd like to see interviewed or if you have any tips, hit me up! https://www.youtube.com/watch?v=UJtXGCWiUXM Some of the topics covered: 0:50 Where did you start? 2:14 Desire to Trade 3:34 Tips getting in touch with 'industry greats'...
this guy is a complete idiot asked him few qs on youtube no answers total idiot loves to flaunt her gf on yt
GBP/USD
Quoting KoiFish
{quote} Not surprised at all. Just a gimmick for retail traders.
Meanwhile our clients are enjoying the lowest cost brokerage experience with our commission free offering - here's our majors for May 2021 verified by https://tradeproofer.com/

AUDUSD - #1 throughout trading day

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EURUSD - #1 throughout trading day

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USDCHF - #1 throughout trading day

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USDJPY - #1 throughout trading day

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We are the only broker in the world offering Automated Trade Receipts proving an A-book model and on the clients side.

#1 in commission adjusted trading costs

#1 rated broker on FPA across 300+ review over almost 10 years

The only broker with a public facing community Discord where you can hang out with the founder and team

"Just a gimmick" right

For anyone that actually wants to take advantage of our offering you know where to find us.

Cheers,
Jeremy
what we are not enjoying is a lack of data and NO data, huge gaps

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Maximize wins, minimize loss, stay in the game as long as you can
Quoting Jemook
{quote} Meanwhile our clients are enjoying the lowest cost brokerage experience with our commission free offering
Jeremy, I assume 100% of the commission is added to the spread?
Quoting Erebus
what we are not enjoying is a lack of data and NO data, huge gaps {image}{image}
Agreed! TradingView is still in soft launch phase and there are some teething issues with the pricing copying over from TraderEvolution which we are sorting out. Those gaps should be filled shortly. TraderEvolution built an entire new system to connect with TradingView and it's been smooth sailing so far apart from a few price dropouts which we fix on the charts. Focus is on ensuring this is sorted.

Quoting Le.Metier
{quote} Jeremy, I assume 100% of the commission is added to the spread?
Most brokers "zero commission" offering just builds in their standard commission into the spread and you end up paying the same on either offering. On ours we've axed the commission and added slight markups with the aim to be cheaper by a long shot to competitors as can be seen in the comparison from TradeProofer.

Cheers,
Jeremy
Quoting Saxio
{quote} BUSTED ...? https://www.forexpeacearmy.com/commu...ir-trap.70132/
After reading that thread I am left with the impression that at least some of the people at Gleneagle have a very shady history. If true I hope their past behaviours do not infiltrate or tarnish Global Prime.

My personal experience with Global Prime so far has only been good, suggesting it hasn’t to-date.
Quoting Jemook
Most brokers "zero commission" offering just builds in their standard commission into the spread and you end up paying the same on either offering. On ours we've axed the commission and added slight markups with the aim to be cheaper by a long shot to competitors as can be seen in the comparison from TradeProofer. Cheers, Jeremy
Thanks. What % of the commission is added to the spread?
  • Post #78
  • Quote
  • Edited 9:43am Jun 15, 2021 9:33am | Edited 9:43am
@GP - why is your GER30 circa 10 point above the actual DAX (as can be seen from the live-cam inside Frankfurt Stock Exchange here - you may need to refresh the page if it is more than one minute difference), whereas my other broker is pretty tight on the original price? However, at the same time the charts look almost identical in both brokers, except this strange (constant) offset of ca 10 points at GP..
..
Quoting Le.Metier
{quote} Thanks. What % of the commission is added to the spread?
It's not fixed and differs per pair. Call it 50-70% cheaper across the board for FX pairs. More comparisons here:

https://globalprime.com/row

Quoting rockit
@GP - why is your GER30 circa 10 point above the actual DAX (as can be seen from the live-cam inside Frankfurt Stock Exchange here - you may need to refresh the page if it is more than one minute difference), whereas my other broker is pretty tight on the original price? However, at the same time the charts look almost identical in both brokers, except this strange (constant) offset of ca 10 points at GP..
Will need to get a proper live pricing source to evaluate the difference as well as understand how your broker structures their product to compare. If you'd like DM me and we can go thru together.

Cheers,
Jeremy
Quoting Jemook
{quote} It's not fixed and differs per pair. Call it 50-70% cheaper across the board for FX pairs. More comparisons here: https://globalprime.com/row
I see there is a wait list. When do the discounts commence?
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