collapse

Author Topic: Global Prime  (Read 185583 times)

Offline jubal

  • Hero Member
  • *****
  • Posts: 1706
Global Prime
« on: January 17, 2013, 03:00:35 PM »
Just a heads up about a new brokerage in Australia, or if not totally new, now under new management. Reason its worth mentioning is it has been taken over by "Jemook" and a couple of other guys. Jemook is a well known and respected contributor on Steve Hopwoods forum and this sort of brokerage is the kind most folks crave for, ie the main guy is "one of us" so to speak. Its true ECN and spreads seem very good. Will need to do a bit more reading and research but it could be one for the future

http://www.globalprime.com.au/forex/
If you can keep your head when all around you are losing theirs.... then you have probably underestimated the seriousness of the situation

Offline muzzamcc

  • RobinVOL
  • Sr. Member
  • ****
  • Posts: 1424
Re: Global Prime
« Reply #1 on: January 17, 2013, 03:31:23 PM »
Just a heads up about a new brokerage in Australia, or if not totally new, now under new management. Reason its worth mentioning is it has been taken over by "Jemook" and a couple of other guys. Jemook is a well known and respected contributor on Steve Hopwoods forum and this sort of brokerage is the kind most folks crave for, ie the main guy is "one of us" so to speak. Its true ECN and spreads seem very good. Will need to do a bit more reading and research but it could be one for the future

http://www.globalprime.com.au/forex/
I also got the notification about this from Steve's Forum. I actually enquired about a live account with this broker several months back and apart from my initial email going unanswered until I folowed it up, I wasn't particularly impressed with the attitude of the guy I had an email correspondance with. He started to bad mouth other aussie brokers and when I asked him about one in particular that I have used for several years very happily for my main account, he tried to tell me they were a marker maker, which is patently false as they are the biggest STP broker in Australia. Back then commissions were $10 round turn but eventually he offered $7 round turn so they were trying to gouge people too on the commission.

I hope the new management does things alot better for their sake

Offline geektrader

  • Sr. Member
  • ****
  • Posts: 758
Re: Global Prime
« Reply #2 on: January 18, 2013, 04:12:27 AM »
Interesting find, but spreads are not any better than IC Markets / AXI or Armada currently and we dont know slippage or trade execution speed yet.

The real problem for non-Australian clients though is their funding. They offer BPay (seems to be for Australians only) and funding to a bank in Australia and they dont even provide a IBAN so Europeans have to use a international wire transfer which most banks charge in excess of 70 Euro for. Even worse with the withdrawal form, you HAVE to specify a BSB (which no other banks than the ones in Australia have), no fields to provide a IBAN or whatever for European bank accounts - so a withdrawal to Europe is not even possible with that broker right now.

Offline alisonr

  • Jr. Member
  • **
  • Posts: 67
Re: Global Prime
« Reply #3 on: January 18, 2013, 05:46:54 PM »
Actually according to fxintel their spread seems to be little better then AXI, but I agree that they need to add more deposit options to became more attractive.
<a href="https://manage.accuwebhosting.com/aff.php?aff=589">Reliable VPS $11.49/m</a>

Offline geektrader

  • Sr. Member
  • ****
  • Posts: 758
Re: Global Prime
« Reply #4 on: January 18, 2013, 07:43:05 PM »
Watch the Asian Session..... and if you compare with Pepperstone Edge, Pepperstone is always better especially on the cross pairs (GBPCAD, GBPAUD, etc). Apart from that I have no use for that broker if I can only withdraw to a Australian bank account - so that works for Aussies only currently.

Offline KevinT

  • Jr. Member
  • **
  • Posts: 16
Re: Global Prime
« Reply #5 on: January 23, 2013, 10:32:13 AM »
Watch the Asian Session..... and if you compare with Pepperstone Edge, Pepperstone is always better especially on the cross pairs (GBPCAD, GBPAUD, etc). Apart from that I have no use for that broker if I can only withdraw to a Australian bank account - so that works for Aussies only currently.
Hi Geek ???
The withdrawal form @ Global Prime has now been rectified. If you have a look at the withdraw request form on the Global Prime Fx site, the new managment has added the option for the IBAN as well as SWIFT now.

Cheers :)

« Last Edit: January 23, 2013, 11:00:00 AM by KevinT »

Offline KevinT

  • Jr. Member
  • **
  • Posts: 16
Re: Global Prime
« Reply #6 on: January 23, 2013, 10:51:56 AM »
Just a heads up about a new brokerage in Australia, or if not totally new, now under new management. Reason its worth mentioning is it has been taken over by "Jemook" and a couple of other guys. Jemook is a well known and respected contributor on Steve Hopwoods forum and this sort of brokerage is the kind most folks crave for, ie the main guy is "one of us" so to speak. Its true ECN and spreads seem very good. Will need to do a bit more reading and research but it could be one for the future

http://www.globalprime.com.au/forex/
I also got the notification about this from Steve's Forum. I actually enquired about a live account with this broker several months back and apart from my initial email going unanswered until I folowed it up, I wasn't particularly impressed with the attitude of the guy I had an email correspondance with. He started to bad mouth other aussie brokers and when I asked him about one in particular that I have used for several years very happily for my main account, he tried to tell me they were a marker maker, which is patently false as they are the biggest STP broker in Australia. Back then commissions were $10 round turn but eventually he offered $7 round turn so they were trying to gouge people too on the commission.

I hope the new management does things alot better for their sake
Hi muzzamcc,
I,ve been asked to let you know that:

The adviser you spoke with is/was a representative of Global Prime 'Shares + CFDs' division and the conversation he had with you is not reflective of the new (mid Jan forward) management views!

I want to stress that when you deal with Global Prime Forex you need to ask to speak with Jeremy, Elan or Alex as there are other divisions in Global Prime that aren't related to GPFX.

Please do know that you are welcome to call Elan, Alex or Jeremy for a chat so the air can be cleared!

Regards, Kevin
« Last Edit: January 23, 2013, 12:43:50 PM by KevinT »

Offline muzzamcc

  • RobinVOL
  • Sr. Member
  • ****
  • Posts: 1424
Re: Global Prime
« Reply #7 on: January 24, 2013, 12:50:58 AM »
Just a heads up about a new brokerage in Australia, or if not totally new, now under new management. Reason its worth mentioning is it has been taken over by "Jemook" and a couple of other guys. Jemook is a well known and respected contributor on Steve Hopwoods forum and this sort of brokerage is the kind most folks crave for, ie the main guy is "one of us" so to speak. Its true ECN and spreads seem very good. Will need to do a bit more reading and research but it could be one for the future

http://www.globalprime.com.au/forex/
I also got the notification about this from Steve's Forum. I actually enquired about a live account with this broker several months back and apart from my initial email going unanswered until I folowed it up, I wasn't particularly impressed with the attitude of the guy I had an email correspondance with. He started to bad mouth other aussie brokers and when I asked him about one in particular that I have used for several years very happily for my main account, he tried to tell me they were a marker maker, which is patently false as they are the biggest STP broker in Australia. Back then commissions were $10 round turn but eventually he offered $7 round turn so they were trying to gouge people too on the commission.

I hope the new management does things alot better for their sake
Hi muzzamcc,
I,ve been asked to let you know that:

The adviser you spoke with is/was a representative of Global Prime 'Shares + CFDs' division and the conversation he had with you is not reflective of the new (mid Jan forward) management views!

I want to stress that when you deal with Global Prime Forex you need to ask to speak with Jeremy, Elan or Alex as there are other divisions in Global Prime that aren't related to GPFX.

Please do know that you are welcome to call Elan, Alex or Jeremy for a chat so the air can be cleared!

Regards, Kevin
Thanks, I had a look at the thread on Steves forum and did see this. At the moment they aren't interesting to me until they fix things like the GMT issue and the order numbers in the comment field issue, and generally get their offering bedded down and not in such a state of change. I think it's too early for them to be considered seriously at this point, they need to get everything sorted out and then maybe.

Offline The_Snowman

  • Full Member
  • ***
  • Posts: 225
Re: Global Prime
« Reply #8 on: January 24, 2013, 01:33:25 AM »
Watch the Asian Session..... and if you compare with Pepperstone Edge, Pepperstone is always better especially on the cross pairs (GBPCAD, GBPAUD, etc). Apart from that I have no use for that broker if I can only withdraw to a Australian bank account - so that works for Aussies only currently.

Does Pepper have the 28 pairs as does Prime?

Like others, I am not going to use them unless the GMT rollover & comment thing is fixed up

Offline KevinT

  • Jr. Member
  • **
  • Posts: 16
Re: Global Prime
« Reply #9 on: January 24, 2013, 01:02:54 PM »
Watch the Asian Session..... and if you compare with Pepperstone Edge, Pepperstone is always better especially on the cross pairs (GBPCAD, GBPAUD, etc). Apart from that I have no use for that broker if I can only withdraw to a Australian bank account - so that works for Aussies only currently.

Does Pepper have the 28 pairs as does Prime?

Like others, I am not going to use them unless the GMT rollover & comment thing is fixed up
Snowman is that pic from a site or an indi?
The black background suggests MT4 indi ;)
Can you share?

Offline geektrader

  • Sr. Member
  • ****
  • Posts: 758
Re: Global Prime
« Reply #10 on: January 26, 2013, 05:18:08 AM »
Yes, Pepperstone has all of them + 24 more, and the spreads on the pairs that Global Prime has are lower at Pepperstone Edge in average over 24 hour periods. Also we dont know anything about the slippage at Global Prime, low spread is of no use if there is slippage of 1 pip for each trade, you have to factor the total costs, which is spread + entry + exit slippage. So can someone provide some figures already with them? Especially tick-scalping would be interesting to see how they do (NMI Super Scalper, etc.).

I will not give them a try before they offer more funding options, preferable Moneybookers.

Offline VegaMax

  • Jr. Member
  • **
  • Posts: 75
Re: Global Prime
« Reply #11 on: January 28, 2013, 08:21:52 AM »
Pros:
True STP/DMA.
There is no manipuration of pricing and spread they say.
Execution speed is around 300ms ~ 500ms.
ASIC regulated.
Minimum trade size is 0.01 lot. Max is 1000 Lot.
Funding by wire is quick.
All of the founders are traders.  They know what traders want.
They reflect customer voice so that they are changing GMT offset from 0 to 2 shortly for the long term strategy trader.  It is good for 5 D1 bars in a week.

Cons:
Live spread is higher than demo. (It will be adjusted soon)
Live commision is higher than demo. (It will be adjusted soon)
They say their servers are at Mountain view CA. It's far from many LP.
Demo feed stopped this morning for a few hours.
Comment field is filled by text.  Your EA can't rely on the use of comment field.

What I can think about:
I'd like to believe they are cheat free as they say.
They are working so hard on many problems right now.
About slippage, I don't have enough sample count to judge at this moment.
I can't test tick scalpers because I don't have it. I can do it if someone send me that kind of EA for the test. ;)
« Last Edit: January 28, 2013, 08:56:23 AM by VegaMax »

Offline KevinT

  • Jr. Member
  • **
  • Posts: 16
Re: Global Prime
« Reply #12 on: January 28, 2013, 10:24:48 AM »
 ??? "Execution speed is around 400ms"

@VegaMax: Where is your MT4 located? New Zeland I would guess :-\

Funding by wire is quick. Maybe but expensive (at least for some - $50~$90 each way)

Live commission is higher than demo. (Comm. on demo is absent)

They say their servers are at Mountain view CA. It's far from many LP. (Happy that's not the case, their actual location is NYC area - 4ms from Equinix DC) :-X

Comment field is filled by_ [TICKET N etc...]  Your EA can't rely on the use of comment field. That will be hard, yet critical, to crack :-\

I can't test tick scalpers because I don't have it. I can do it if someone send me that kind of EA for the test. With such latency don't bother! :D

Kevin :)
« Last Edit: January 28, 2013, 05:34:49 PM by KevinT »

Offline iwillsurvive

  • Full Member
  • ***
  • Posts: 427
Re: Global Prime
« Reply #13 on: January 28, 2013, 03:04:16 PM »
Hi Guys,

I can vouch for Global Prime being a very honest broker. (at least the old management). I've got a contact in integral and when I asked him about going to pepperstone..he said don't. He recommended global prime instead because they are truly a NDD. They make money off volume.

On the other hand, he did mention pepperstone have dealers. Whether pepperstone takes positions against you is up to you to decide. I just know they have dealers.

Offline geektrader

  • Sr. Member
  • ****
  • Posts: 758
Re: Global Prime
« Reply #14 on: January 29, 2013, 08:36:17 PM »
They are a "Grade A" broker now already without anyone here having any real experience (facts about slippage / execution etc) with them yet? Wow.

 

browse forum