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Author Topic: Global Prime  (Read 195232 times)

Offline compujock

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Re: Global Prime
« Reply #390 on: February 07, 2014, 03:16:25 AM »
Jeremy,
      You've done everything you can to help your clients.  Which is awesome.  However, we are all unfortunately at the mercy of Metaquotes.  You would think they would have tested their own software a little and realized upgrading all mt4's at once is not a good idea!  But I get the feeling Metaquotes doesn't do much testing or quality control.

Offline HFT Group

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Re: Global Prime
« Reply #391 on: February 07, 2014, 03:59:48 AM »
The thing is, if you are also running a MT4 platform of another broker that has already pushed the Build 600 to its clients, ALL terminals system-wide will update to it on the next restart. That might have happened for you.

This is extremely frustrating for us. What's the point of us disabling the auto-update feature on our MT4 Administrator program then? We are seriously not impressed.

Jeremy

I had a forced update of one brokers mt4 platform when I opened it up. Any other mt4 instances will be forced to update upon restart. Pain in the ass if you have a number of mt4 instances from a number of brokers on a single vps :(

Offline WiZARD

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Re: Global Prime
« Reply #392 on: February 07, 2014, 02:07:27 PM »
Today I had again big slippage at GP.
It was a GBPUSD buy stop order, 1.21 lots, and it was slipped 5.9 pips.
I had the same order at lmax, and armada markets, there I had 3-10 lots trades, and there I had only 0.1-0.2 pips slippage.

Then today I had a much bigger problem:
I had an EURUSD buy stop order, it was hit with NFP, there were 5-10 pips slippage on most brokers (however my account at Armada markets had only 3 pips slippage), also at GP.
The bigger problem: My EA could not move the SL, and I also couldn't close the trade for ~180 seconds, I only had "off quotes" error msg.
This caused me some loss, when I had profit at every other brokers...

I wrote these problems in email to Jeremy, with a little more details, I'll report here, but I think Jeremy will also :)
Greed is good

Offline wazup

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Re: Global Prime
« Reply #393 on: February 09, 2014, 02:52:33 AM »
Jeremy,

can you tell me how many and by exact name the LPs are?

I need ALL to know.

Demo and Live server have the same quotes and spreads,right?

Thanks

Offline jemook

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Re: Global Prime
« Reply #394 on: February 10, 2014, 04:48:28 AM »
Today I had again big slippage at GP.
It was a GBPUSD buy stop order, 1.21 lots, and it was slipped 5.9 pips.
I had the same order at lmax, and armada markets, there I had 3-10 lots trades, and there I had only 0.1-0.2 pips slippage.

Hi Akos,

When it comes to slippage it’s very hard to compare GP vs other brokers. We are the only broker out there that proves we don’t have our clients on a B-book through our trade receipts. Unless you can have a trade receipt from your other brokers for the trade you are comparing then we can’t compare the GP fill vs theirs.

There’s plenty of cases of brokers that will promise that they put all trades through to the market but unless they can can show proof through a trade receipt we will not accept any claim by a broker that they place all trades to their LPs and thus we can’t compare the fills as you may be on a B-book which is not the real market. Please ask Armada and LMAX for a trade receipt if you’d like to do a real comparison.

On to your fill. I can see that FIXI and Bank of America rejected the trade within 2 m/s in the order matching system and then Credit Suisse took the trade. I’m guessing that this was due to a news release or the market reacting to something that came out.



Please see above for the trade receipt. This is the same scenario that happened when you asked for the previous trade receipt and we suggested that you may want to trade this strategy exclusively on the broker that is providing minimal slippage around news releases.

If you find that your news trading strategy is more profitable somewhere else I am more than happy to organise a broker 2 broker transfer to help you get better conditions for this strategy elsewhere.

I always say there’s no ‘one size fits all’ brokerage and if your strategy relies on good fills around news announcements you shouldn’t be trading it on a true ECN broker.

Hope that helps, let me know if any further questions.

Then today I had a much bigger problem:
I had an EURUSD buy stop order, it was hit with NFP, there were 5-10 pips slippage on most brokers (however my account at Armada markets had only 3 pips slippage), also at GP.
The bigger problem: My EA could not move the SL, and I also couldn't close the trade for ~180 seconds, I only had "off quotes" error msg.
This caused me some loss, when I had profit at every other brokers...

I have the team and our bridge provider looking into this, will advise when I know more.

Cheers,
Jeremy
« Last Edit: February 10, 2014, 04:54:22 AM by jemook »

Offline jemook

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Re: Global Prime
« Reply #395 on: February 10, 2014, 06:48:54 AM »
Jeremy,

can you tell me how many and by exact name the LPs are?

I need ALL to know.

Demo and Live server have the same quotes and spreads,right?

Thanks

Wazup, wazup.

We only use tier 1 banks such as Morgan Stanley, Nomura, RBS, Westpac, Bank of America, Credit Suisse etc.

Yes, spreads/quotes are exact same on demo as live.

Cheers,
Jeremy

Offline QuickPipsFX

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Re: Global Prime
« Reply #396 on: February 10, 2014, 08:47:25 AM »
Happy to report that I both get positive and negative slippage on my fills with GlobalPrime. I'm using a rather active EA and trying to catch the falling knife all the time. So execution seems very fair to me :)

Offline GTO

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Re: Global Prime
« Reply #397 on: February 10, 2014, 09:43:58 AM »
Dear Jemook, why is the spread of xauusd is so high at globalprime,a few moment ago it is 52 pips and 7.00 commission per standard lot,as for think forex it is fix 20 pips and without commission! Can you explain this matter ;)

Mr.GTO 8)

Offline jemook

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Re: Global Prime
« Reply #398 on: February 10, 2014, 11:02:40 PM »
Dear Jemook, why is the spread of xauusd is so high at globalprime,a few moment ago it is 52 pips and 7.00 commission per standard lot,as for think forex it is fix 20 pips and without commission! Can you explain this matter ;)

Mr.GTO 8)

We are working on it.. To be honest we've been focusing on getting the currency pairs right before the metals as that's where the volume is. We recently signed a deal with a new LP just for gold so let's see what that does to the spread when they've been connected. In saying this our XAUUSD spread might not be the lowest but it's in line with Axitrader, Boston Prime Pro, OANDA, FinFX, Alpari, VantageFX and many others so I don't consider them outrageous.

If your strategy relies on trading XAUUSD exclusively then it's probably better to use a lower spread broker - IC markets would be a good choice in our opinion.

Cheers,
Jeremy

Offline ninjaturtle

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Re: Global Prime
« Reply #399 on: February 11, 2014, 04:14:53 AM »
The ebb and flow of the Atlantic tides, the drift of the continents, the very position of the sun along its ecliptic. THESE are just a FEW of the things I control in my world!

Offline jemook

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Re: Global Prime
« Reply #400 on: February 11, 2014, 05:39:57 AM »
jemook,
what do you think about this?
http://www.donnaforex.com/forum/index.php?topic=12122.msg300964#msg300964
ECN/DMA/STP are all just catchwords and phrases which brokers use to imply that they put all trades through to the market. To say that a broker isn't 'true ECN' because it doesn't pass limit orders to the ECN seems like a technicality to me and hey - it might even be true - what do I know what ECN really means, it's use has been so misconstrued. The actual definition is Electronic Communication Network which is as vague as it comes.

Anyway most traders understand ECN to mean "we put all trades through to the market" and when it comes to that we are the only broker that proves that we do so through our trade receipts which show which LP took the trade. So going by that we must be the most ECNiest out of everyone!

As a client I would much rather prefer knowing for an absolute fact that every trade is going through to my brokers LPs and they aren't profiting from my losses. Especially if the execution is amazing like it is with Global Prime as discussed on the thread you linked to. I'm not participating in that thread cause it's a can of worms really.. but happy to answer any Qs here.

Cheers,
Jeremy

PS. Go Stoner! Hope he comes back to MotoGP one day, we miss him (and Adriana).

Offline jemook

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Re: Global Prime
« Reply #401 on: February 11, 2014, 05:56:14 AM »
Happy to report that I both get positive and negative slippage on my fills with GlobalPrime. I'm using a rather active EA and trying to catch the falling knife all the time. So execution seems very fair to me :)

Great to hear. Thanks for the feedback!

Cheers,
Jeremy

Offline Fraois

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Re: Global Prime
« Reply #402 on: February 11, 2014, 06:53:45 PM »
Hi Jeremy,

We all know the mess started by Metaquotes recently. They don't care even for brokers because they don't care if there will be a sharp decline trading volume when all commercial EAs that call DLL function suddenly do not trade at all. EAs have the largest market share of trading volume. Even manual traders use commercial trade managing EAs. We have to find another platform other than MT4 but the problem is MQL EA compatability. Protrader is a good alternative which has MQL, DLL call compatability and does not ban decompiled MQL codes. However, I read your post on Steve Hopwood Forum and you said Protrader is not acceptable for your brokerage because of the price.

Well, there are other choices than Protrader and they give you less than 10% the cost of a MT4 liscence.

1. M4
It has both MQL, EasyLanguage library and is fully customizable of course. You can own full source code of client platform as well the M4 server not just partial source code like X Open Hub or Tradable. It can be customized to directly integrate with FIX if you want to provide your larger clients a better GUI with charting functions and DOM than Integral's FX Inside Professional. You can choose between your own programmers or have them develop. (US team $80/hr, Ukrainian team $30/hr) It's written in C#, flexible if you may want to introduce futures and stocks one day because it's built in. If you contact them, don't say you're Global Prime in the first place because they offer a discount if you buy within the first 7 days you contact them.
http://www.m4platform.com/default.aspx
http://www.modulusfe.com/socialmedia/

2. ETNA Robot
It's a Java platform. I personally endorse more "light weight" platforms, but it may be welcomed by Java addicts who like the cross-platform flexibility. It's very advanced and no way 90's looking design like MT4. It supports EasyLanguage not MQL, but I guess they can add MQL functions. They develop strong options trading interface if you need options one day. Initial price starts from $10,000 slightly lower than M4, but this price does not include full source code.
http://robot.etnasoft.com/backtesting/
http://www.etnasoft.com/


Wish all traders and brokers get out of control of Metaquotes! 

Offline Surrealistik

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Re: Global Prime
« Reply #403 on: February 11, 2014, 07:03:11 PM »
Dear Jemook, why is the spread of xauusd is so high at globalprime,a few moment ago it is 52 pips and 7.00 commission per standard lot,as for think forex it is fix 20 pips and without commission! Can you explain this matter ;)

Mr.GTO 8)

We are working on it.. To be honest we've been focusing on getting the currency pairs right before the metals as that's where the volume is. We recently signed a deal with a new LP just for gold so let's see what that does to the spread when they've been connected. In saying this our XAUUSD spread might not be the lowest but it's in line with Axitrader, Boston Prime Pro, OANDA, FinFX, Alpari, VantageFX and many others so I don't consider them outrageous.

If your strategy relies on trading XAUUSD exclusively then it's probably better to use a lower spread broker - IC markets would be a good choice in our opinion.

Cheers,
Jeremy

Have to admit, it takes a lot of class to recommend another broker like that for the sake of the client. Kudos Jeremy!

Offline Tempestshade

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Re: Global Prime
« Reply #404 on: February 11, 2014, 08:34:24 PM »
Dear Jemook, why is the spread of xauusd is so high at globalprime,a few moment ago it is 52 pips and 7.00 commission per standard lot,as for think forex it is fix 20 pips and without commission! Can you explain this matter ;)

Mr.GTO 8)

We are working on it.. To be honest we've been focusing on getting the currency pairs right before the metals as that's where the volume is. We recently signed a deal with a new LP just for gold so let's see what that does to the spread when they've been connected. In saying this our XAUUSD spread might not be the lowest but it's in line with Axitrader, Boston Prime Pro, OANDA, FinFX, Alpari, VantageFX and many others so I don't consider them outrageous.

If your strategy relies on trading XAUUSD exclusively then it's probably better to use a lower spread broker - IC markets would be a good choice in our opinion.

Cheers,
Jeremy

Have to admit, it takes a lot of class to recommend another broker like that for the sake of the client. Kudos Jeremy!

Yea, I am pretty impressed as well.

 

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