Then you should check their reviews for example in forex peace army. As a scalper this might be a usefull :
My account # with globalprime is: 927673
I chose “globalprime.com.au”, because I thought they are the best Forex broker, but I was mistaken. For scalping, this broker is the worst choice. I always use FPA to find brokers. I contacted Jeremy from Globalprime, he helped in setting up my account. Apart from this, everything else about Globalprime was a big disappointment.
The main complaint I have about “Globalprime” is that, there trade execution is very slow. For instance, in one of the trades, I was $80 positive, I closed the trade, and in the end, I got less than $50. Trade volume was one standard lot. This did not happen during any News event. In addition, there was no high volatility in the market.
After clicking on close trade, Globalprime takes a lot of time to close the trade. I noticed this slow trade execution with every trade.
I also find their spread to be higher than many other forex brokers. Their fee is also high.
I am using the same scalping strategy with another broker and it works perfectly. Globalprime does not have any clients area, that is another disappointment.
Using FPA, I was able to find another excellent broker that offer fast trade execution, superb clients area, lot of deposit/withdrawal options, Live-Chat, etc. Globalprime offers none of these.
Globalprime was a big disappointment.
Added by Jeremy Kinstlinger on 2015-11-17 05:59
Thanks for leaving a review for GP and sorry to hear of your experience. I noticed your last trade with us was over 6 months ago when admittedly we where having execution issues with one of our technology providers. Since then we have switched to a new provider who has really helped to iron out the issues we faced with the previous provider. Sorry to hear we couldn't make it work for you but we are glad to hear you have found another home that suits your scalping strategy. Good luck with your trading!
It all depends on what platform the trader like to trade on. There are several to choose from. cTrader, MT4, Currenex, Ninja Trader, Lmax and so forth. Also to take into the consideration is where one is located, and in which country one are a citizen of. USA citizens are not accepted with certain brokers overseas regardless of the platform used. Regulation is also something the trader has to think about. In smaller accounts it's not that important but bigger accounts this is certainly of concern.
The spread the broker is offering is not the whole story there are other aspects to count in for when choosing a broker. Slippage, leverage, commission, service and reliable trading servers to name a few. Trying out different platforms and brokers with smaller live accounts is recommended to get a feel if the broker is up to par. The trader should always try out the broker by testing demo accounts first though, before placing real money in the account.
HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors.
Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance.
You could lose some or all of your initial investment. Do not invest money that you cannot afford to lose. Educate yourself on the risks associated with foreign exchange trading, and seek advice from an independent financial or tax advisor if you have any questions.
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