Global Prime (Forex)

I’m presently researching Global Prime (Forex) in Australia.

Spre*ds look very good. (+$7 round trip commission).

The broker prides themselves on this fact (quoted from their website):

Every trade placed into the market with Global Prime can be confirmed with a direct receipt from Global Prime’s liquidity providers. If you need confirmation please email or call your Foreign Exchange Specialist to obtain a copy. Now that’s transparency! We believe this is a great way to challenge traditional brokers that offer Straight Through Processing or no Dealer Intervention.

I’m wanting feedback from real customers who aren’t reps. of the broker.
I myself have no affiliation with this broker.

Please comment on:
1] price feed: interruptions, freezes etc
2] spre*ds overall, random spread spikes, spre*ds at news time
3] customer service

Note to FF admin:
I am aware there is a very short thread for this broker in the “commercial section”. Please keep this thread in “broker discussion” as I am not a commercial member, and answers to my questions are more likely in “broker discussion” where there is greater traffic than in the “commercial section”.

Here are the two commercial threads related to Global Prime, so potential clients can include in your research:
Global Prime (Australia) rebate/discount
Global Prime Forex - a strictly ECN/DMA ONLY Forex Broker

I'm waiting for their GMT+2/3 server time offset to align Daily chart candles with New York close (5pmET). Also waiting for availability of credit card deposit option. I haven't fund this account so no useful feedback yet. I will update on this thread if I hear more.

thank you, however 1 of those threads has no member traffic because its in the commercial section, the other is an IB to GP

thanks for the info

and i agree +2/3 GMT is preferred

Hi Peter,

You'll probably get more responses / feedback at the GP thread on the Donna Forex or Steve Hopwood forum. Let me know if I can assist with anything.

Cheers,
Jeremy

thanks for letting me know

This broker looks extremely promising. I have been doing research and I am very happy with what I have found. I have three problems thus far, and in reality I cannot really call them problems.

1. Metatrader is junk. In this day and age, with this type of product there is no reason for a broker to only offer metatrader. cTrader should be available, Currenex, even Currenex viking would be sufficient but metatrader is horrible.

2. Market depth. Again with this type of product, DOM should be available.

3. Counterparty. I am aware that a receipt is available so that traders can see trades were actually placed in the market. However, I think we should be able to see the counterparty listed in the open position like LCG. If my trade is taken by Barclays, it would be nice to see Barclays listed as the counterparty immediately instead of having to request a receipt for every trade.

Apart from these minor details, (and my inexperience with their real time liquidity) I think this broker is probably the best I have come across in Australia. Transparent ECN, $7 round trip ($5.50 with rebate) and the first and only Australian broker to offer proof of being an ECN. I'm very impressed but for the love of god, add cTrader or Currenex to your platform options.

A-game,

you live…….i thought you had lost yourself permanently in samadhi…..tehe

Well MT4 it suits many traders well. And it works for my trading style.

GP informed me last week that ctrader is on the to do list.

And I agree. GP is looking like one of the best at the moment. Hope it continues. I’m starting an account with them this month.

Yes I've been away for a while working on some new things.

MT4 is undoubtedly the favorite platform amongst traders, and I still use it myself for charting. However as far as trade execution is concerned, it's still lacking from my perspective. I also like to keep my trades and charts separate. I was thinking of purchasing a license to the pathfinder platform, I love that thing. cTrader, currenex classic, currenex viking, or even trade station. All great platforms. I wouldn't even mind something web based so long as I can avoid executing trades in MT4 lol. I am glad to hear they are looking into cTrader I really liked the demo I tested. Unfortunately we may be waiting a long time. Pepperstone has been telling me "soon" for a very long time now. They even have a picture of it on their website but I'm still waiting so it appears to be a long process. We will see.

Hi A-game, first a big thank you for the nice comments you have about GP. We are very happy with how things have been going so looking to keep that going well into the future. cTrader / alternative platforms are definitely on the agenda however in all honesty I don't see it being operational for at least 6 months. We can see the push by retail traders for alternative platforms and we are on to it - of late we've been making sure our MT4 offering is rock solid and clients are happy with what's currently available before adding new systems. There's a big server move coming up so after the dust settles I'd personally like to get cTrader up and running next. Anyway, thanks again and I hope to work with you in some capacity soon.

Peter - glad to hear you're about to start with us, I hope you can let other FF members know about your experience with GP.

Dear Forex Factory members and clients of Global Prime,

Over the last year Global Prime has invested considerable time and effort into upgrading our infrastructure to ensure rock-solid stability and an optimal trading environment for all of our clients. We have recently acquired new dedicated MT4 servers for Live and Demo which are armed with sophisticated and state of the art bridging software.

We will be implementing the server move this coming weekend and changes will come into effect ready for trading on 29/09/2013 @ 21:00 GMT +0 (Market Open). Please make a note of this date as there are important changes which you will need to consider before then.

Changes to the MT4 Live environment & how this may affect you

1. Server time – this will be changed from GMT + 0 to GMT + 2 / 3. Daylight savings (based on NY DST) will be applicable and automated to the 0servers configurations. This change means no more Sunday candles and a proper 5 daily candle week.
2. Chart data – Charts will commence utilising the GMT +2 /3 time stamps as of 21:00 GMT 29/09/2013 on MT4.
3. Client Information – All efforts have been made to make this move as seamless as possible, there will be no change to: open positions, cash balances, personal information or passwords. All you need to do is log out and log back in to your MT4 account after 29/09/2013 @ 21:00 GMT +0 (Market Open).

Changes to the MT4 Demo environment & how this may affect you

1. All current demo accounts will be inaccessible after 29/09/2013 @ 21:00 GMT +0 (Market Open). You will need to install our new MT4 software and create a fresh demo account on the new server. Details on how to do this are below.
2. New demo accounts will now expire after 30 days of inactivity.
3. Server time has been changed from GMT +0 to GMT + 2 / 3 to reflect live changes.
4. The .G suffix on the end of pairs is no longer applicable.

We have officially launched our new demo server today and it is now available for use.

Please note that metals will only be active on the new demo server after 29/09/2013 @ 21:00 GMT +0 (Market Open). To install the new demo please follow the instructions at this link: http://www.globalprime.com.au/forex/download-mt4

If you have any questions regarding the new changes or if you have any difficulties logging into your account please email us at [email protected] or call on +612 8277 6611.

We would also like to take this opportunity to thank all of our clients for trusting Global Prime as their broker of choice – it’s been a great year for all involved and it’s extremely rewarding for our team when we hear the great feedback that comes through about Global Prime daily.

Thanks from everyone @ GP.

good news, thanks for making the change

Jeremy can't reply to this thread anymore.

well, this is how FF makes cash, so to be expected

.........in the mean time, i'm happy with fills, feed, spre*ds and GP customer service

Today my order was filled 1000 pips below the price I set. I was so shocked by this broker.
1.12805 order filled at 1.11779.

What pair do u trade?

eurusd

hi,mry2001.
It is 100pips not 1000pips.
bye.
for you more important information about this broker.
http://forums.babypips.com/forex-bro...-data-ssl.html
Have a good weekend!

I think they are not true ecn.
just pretend .

I noticed all symbol`s required margin is just 500usd.(lev. 1:200,If you trade 1lot)
usually, margin is related currencies pairs.
It is impossible to offer the same margin for all pairs under the real market condition.
Don`t be cheated by this brokers.