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Global Prime Recension av poäng


Sammanlagd poäng: 3.6 / 5

Totalt antal röster: 116
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Global Prime Diskussion

Rodri2185
Dec 03 2021 at 02:24
1 inlägg
Lo mejor que vi hasta ahora, ya llevo bastante con esto. Si pudieran incorporar la plataforma Ctrader, serían líder en todos los aspectos sin ninguna duda!

babang_tamvan
May 31 2021 at 00:42
8 inlägg
I forgot to post, earlier this month I made a withdrawal request and the process went smooth as it delivered to my bank account within couple of working days.

Bilagor:


contrarycanary
Apr 21 2021 at 05:59
2 inlägg
The consultation for lower leverage actually begun in August, 2019. (google ASIC product intervention for asic official press release) It wasn't finalized until October 2020.


Yes, I know that. I googled it after the first time I heard about it, which was the Thursday before the change took place.

But let's say that there was no ASIC product intervention. Did you know that upline Prime Broker/LP can cut leverage with even less notice? Usually there is a couple days notice. But when there is extreme volatility/geopolitical situations, leverage/ability to open new positions can be cut with just a few hours notice. A recent example of this was when Oil commodity prices went negative (April, 2020).


fair enough. I don't see the point though.

The irony of this complaint is that ASIC enacted their product intervention so that [retail] traders would not overleverage themselves. $100k needed to cover leverage reduction? How much exposure did you have open? You could have won huge if the market suddenly spiked in your direction. But it would also be massive losses if the spike occurred in the opposite direction. And an agency model brokerage would have to eat that loss, or try to recover it from their client.

If you have a $30k account and are $10k in drawdown, on 200:1 leverage. And your leverage reduces to 20:1, that's a 10x increase in margin requirement. I'm no expert so maybe my math isn't quite right but to me, it means if you want to maintain that 30% drawdown position, you'd need to deposit another $300,000 to have a sufficient balance.

4EverMaAT
Apr 20 2021 at 12:28
31 inlägg
contrarycanary posted:
Global Prime notified me less than 48 hours before the ASIC Product Intervention Order took effect (which significantly reduced retail traders leverage), resulting in me losing nearly $15,000 in my account.

ASIC announced the change 5 months ago. but I was told about it on Thursday afternoon. They said I could either deposit $100,000 to cover the leverage reduction that would take place in the next couple of days, or my account would easily go into margin call and pretty much all my open trades would be closed.


The consultation for lower leverage actually begun in August, 2019. (google ASIC product intervention for asic official press release) It wasn't finalized until October 2020.

But let's say that there was no ASIC product intervention. Did you know that upline Prime Broker/LP can cut leverage with even less notice? Usually there is a couple days notice. But when there is extreme volatility/geopolitical situations, leverage/ability to open new positions can be cut with just a few hours notice. A recent example of this was when Oil commodity prices went negative (April, 2020).

The irony of this complaint is that ASIC enacted their product intervention so that [retail] traders would not overleverage themselves. $100k needed to cover leverage reduction? How much exposure did you have open? You could have won huge if the market suddenly spiked in your direction. But it would also be massive losses if the spike occurred in the opposite direction. And an agency model brokerage would have to eat that loss, or try to recover it from their client.

Are your trading systems fully automated?
contrarycanary
Apr 17 2021 at 10:36
2 inlägg
Global Prime notified me less than 48 hours before the ASIC Product Intervention Order took effect (which significantly reduced retail traders leverage), resulting in me losing nearly $15,000 in my account.

ASIC announced the change 5 months ago. but I was told about it on Thursday afternoon. They said I could either deposit $100,000 to cover the leverage reduction that would take place in the next couple of days, or my account would easily go into margin call and pretty much all my open trades would be closed.

babang_tamvan
Oct 22 2020 at 03:31
8 inlägg
Just got registered earlier this week, today made the deposit and it was processed instantly. This is my 3rd broker, the previous brokers are fine, I just don't want to put eggs in one bucket. Their customer services (for me) are excellent, they're communicative and friendly, like when I want to change leverage, they ask many questions just to make sure I understand the risks. They allow all kind of trading style, no restriction at all, my ea is a scalping ea, although seems few users saying scalping won't work with them, let see how it goes with mine.

Surrealistik
Feb 07 2019 at 10:58
231 inlägg
Great broker. I think the swap rates could definitely use improvement, but that aside, the spreads and execution are spot on by and large, and the customer service is top notch.

Offering the best commission discounts for the best broker: $1.50 / RTL Global Prime:
ram1505
May 13 2018 at 08:16
1 inlägg
smileyb posted:
Been with them a year now, and I have noticed the platform freezes during news releases...not pleased when an open position is not updated real time for several minutes :(
-

'...we do not recommend trading news or tick scalping...'

FAQ on their website:

What kinds of trading strategies are allowed at Global Prime FX?

Any and all trading strategies are allowed. However, we do not recommend trading news or tick scalping strategies at Global Prime. You are more than welcome to trade them here but in our experience these don’t work through MT4 with our liquidity setup.

Ashfaq ul Haq Oni (ashfaq1990)
May 01 2018 at 06:23
1 inlägg
I uesd many brokers before and I used their service almost two years.Their customer service is awesome.They are very transparent & honest.Only news time I faced slippage but we know that because of ECN they have nothing to do. After all I love their services

Tree Trading (amr_320)
Dec 06 2017 at 07:27
1 inlägg
anyone tried their execution during high news time ? is there a requote ?

Sephiroth
Jun 11 2017 at 06:59
6 inlägg
Best retail mt4 broker i ever had in my entire trading career. Their spreads and liquidity for all 28 pairs are incredible impressive. 😎

baschi
Mar 30 2017 at 14:26
10 inlägg
4EverMaAT posted:
marcopq posted:
Good experience on you :). ....deposit withdrawal methods are missing, only bank cards, bank transfer and neteller. Not enough at all :(
Good trades.


You may see several deposit methods at various different brokers. And they may offer to 'cover' the fees. But how many of them have a real Prime of Prime relationship? Of course a casino will have a ton of ways to get you to deposit funds.....but statistically you will lose the money anyway so they do not have to worry about processing withdraw 😈

The majority that are going to deposit >$2000 USD (which is most traders at GP who plan to stay for a while) would use a limited set of deposit methods; mainly bank transfer or credit card. You have to remember that you actually have to support each withdrawal method, which is a challenge in itself.

Is there a particular deposit method that you think could benefit several traders?

baschi posted:
Problem is funding and withdrawal for people out of Australia. Netteller charges, Visa charges, Bank Transfer also charges a lot. I would like to choose that broker but how?
Have anybody a solution for europe customers?


GP covers the wire bank transfer fees ON THEIR END. Any intermediary fees and such are not covered. Your bank may charge fee to send/receive. I do know that some banks charge as much as $50USD to send a wire. I do not know about neteller, but assume that fees neteller charge are outside of their control. Credit card they charge 3-3.5%, which is mainly to cover real processing costs.

You have to look at it like this: take your chances at a 'casino' [bucketshop] broker where you may never get your deposit back. Or go with a proper broker who prove they do not trade against you and pay a little extra. I've been around long enough to know the answer.

In europe, you could check out LMAX. I know a few more, but you need to send private message. I think it is unfair to discuss other broker here; the main topic is about Global Prime Au.



I think you aren't right they don't take over the wire bank transfer fees, they say 'well, you should pay the fees, otherwise intermediary banks will deduct their fees from your transferred amount'

Yes funding via Visa makes sense but they charge 3% and when I withdraw via netteller they charge another 2% and them some funds for the wire bank transfer fee. This is at least 5% only for the payment.

4EverMaAT
Mar 30 2017 at 12:24
31 inlägg
marcopq posted:
Good experience on you :). ....deposit withdrawal methods are missing, only bank cards, bank transfer and neteller. Not enough at all :(
Good trades.


You may see several deposit methods at various different brokers. And they may offer to 'cover' the fees. But how many of them have a real Prime of Prime relationship? Of course a casino will have a ton of ways to get you to deposit funds.....but statistically you will lose the money anyway so they do not have to worry about processing withdraw 😈

The majority that are going to deposit >$2000 USD (which is most traders at GP who plan to stay for a while) would use a limited set of deposit methods; mainly bank transfer or credit card. You have to remember that you actually have to support each withdrawal method, which is a challenge in itself.

Is there a particular deposit method that you think could benefit several traders?

baschi posted:
Problem is funding and withdrawal for people out of Australia. Netteller charges, Visa charges, Bank Transfer also charges a lot. I would like to choose that broker but how?
Have anybody a solution for europe customers?


GP covers the wire bank transfer fees ON THEIR END. Any intermediary fees and such are not covered. Your bank may charge fee to send/receive. I do know that some banks charge as much as $50USD to send a wire. I do not know about neteller, but assume that fees neteller charge are outside of their control. Credit card they charge 3-3.5%, which is mainly to cover real processing costs.

You have to look at it like this: take your chances at a 'casino' [bucketshop] broker where you may never get your deposit back. Or go with a proper broker who prove they do not trade against you and pay a little extra. I've been around long enough to know the answer.

In europe, you could check out LMAX. I know a few more, but you need to send private message. I think it is unfair to discuss other broker here; the main topic is about Global Prime Au.

Are your trading systems fully automated?
marcopq
Mar 30 2017 at 11:52
58 inlägg
Netteller work normal :( only .
Best regards

baschi
Mar 30 2017 at 10:07
10 inlägg
Problem is funding and withdrawal for people out of Australia. Netteller charges, Visa charges, Bank Transfer also charges a lot. I would like to choose that broker but how?
Have anybody a solution for europe customers?

Telltale20
Mar 29 2017 at 10:46
12 inlägg
Really good broker. So glad I found them

marcopq
Mar 08 2017 at 15:48
58 inlägg
Good experience on you :). ....deposit withdrawal methods are missing, only bank cards, bank transfer and neteller. Not enough at all :(
Good trades.

marcopq
Dec 17 2016 at 19:15
58 inlägg
Global deposit withdrawal methods are missing, only bank cards, bank transfer and neteller. Not enough at all :(
Good trades.

TraderCentral (TraderCentral)
Oct 23 2016 at 07:03
3 inlägg
Offering CFDs, pricing is like nowhere to be seen, same top notch execution model, same transparency, I am monitoring quite a few accounts there is never a problem with anything, support is amazing, withdraws are processed within 2-3 hours, hitting bank accounts in Europe same day, free of charge or small charges applied depending on the amounts.
I compare Global Prime to the following Brokers - JFD Brokers, FXCM and SwissQuote, so much said for the retail sector, the new benchmark is Global and untouchable for any other within the MT4 offering. Trust, well trust takes time and no matter what others have to say - simply compare a broker to another, cost of trade, conflict of interests and transparency is essential.
Keep up the great work guys, I hope this will be the new standard soon with who makes it to offer such service.

Hope this helped most people who are looking to open an account with a new broker, see it and test it for yourself.

ahmedfouad
Sep 05 2016 at 08:48
198 inlägg
4EverMaAT posted:
ahmedfouad posted:

Thanks for your reply.
Hi There....May I know your experience with this broker since 2015 either you are a trader or the broker rep itself , how did GP react to SNB sudden intervention on CHF with movement of over 2,000 pips in few minutes in Jan 2015..? Was STOP LOSS filled for who were long on CHF pairs? or it was large negative slippage like most of other brokers without filling any SL?
Regards,


Was not trading with GP during that time. i did monitor some prices there via an old live acct issued to copy trades to.
I will begin trading again in a week or so.

My understanding is that GP kept pricing throughout SNB. As a real ECN, traders connected can still make real buys/sells (bid/ask). Slippage was massive for those on the 'wrong' side. as liquidity was nearly 0, and the spreads reflected this. Your stop loss would have been filled at the next available price, which may have been several hundred pips away. But at least you got out at an honest price. This might be preferable to getting a [fake] price feed cut off altogether from a bucket shop (regulated or not), and then you have to trust that their re-quote is correct. Not to mention not being able to exit or reenter position.

There is a youtube video on how Saxo Bank requoted a client who was on the CORRECT side. Had the guy been trading with a more proper PoP like GP, he should have been able to make a withdraw with little issues and had it processed (actually sent) within 2 business days of request.

Most retail traders should not have been trading a pegged currency anyway, but that is a separate argument.

PS: here is video:


there is a followup video also (part 2).

At least he had screenshot proof. Imagine the other clients who were not quick enough to do this and only relied on the broker record. An agency model keeps things honest on both sides. Market making is ok also, but again, there is a certain degree of trust and a question of structural conflict of interest between broker loyalty vs clients.

Hope this help you.


Thanks for your detailed information....best wishes to you

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