collapse

Author Topic: Global Prime  (Read 212183 times)

Offline Managed-Forex.com

  • Jr. Member
  • **
  • Posts: 55
Re: Global Prime
« Reply #450 on: February 13, 2014, 04:52:14 PM »
20M position even with ''special conditions'' and at E/U could bring troubles, but only in terms of spread. You probably would get much better fills with 8x2.5M instead of 1x20M. Once we traded (not at Global Prime) 75 lots EUR/CAD with single trade and got like 18 (full pips) slippage.
http://goo.gl/GAcSv1 - Professional Investing - Managed-Forex.com

Offline kookoo

  • safe and effective forex signals
  • Full Member
  • ***
  • Posts: 332
  • Curacavi, R.M. Chile
Re: Global Prime
« Reply #451 on: February 13, 2014, 08:19:41 PM »
I tried to open a demo account in mt4 with GP but when I looked the server was listed as Integral-Demo and I received the following message:

2014.02.13 20:00:04   MT4i - TradeCopy Receiver EURUSD,M1: Failed to place GBPCHF trade at 1.48920 (#32166543) because your broker does not allow automated trading.

Please what is the correct I.P. to open an account with GP ?


Offline jemook

  • Verified Vendor
  • Full Member
  • ***
  • Posts: 337
  • Global Prime - the broker that's on your side.
Re: Global Prime
« Reply #452 on: February 13, 2014, 08:30:37 PM »
I tried to open a demo account in mt4 with GP but when I looked the server was listed as Integral-Demo and I received the following message:

2014.02.13 20:00:04   MT4i - TradeCopy Receiver EURUSD,M1: Failed to place GBPCHF trade at 1.48920 (#32166543) because your broker does not allow automated trading.

Please what is the correct I.P. to open an account with GP ?

You have an outdated demo installation. Please open a new demo of our website. Please note it will be build 600+.

Cheers
Jeremy

Offline kookoo

  • safe and effective forex signals
  • Full Member
  • ***
  • Posts: 332
  • Curacavi, R.M. Chile
Re: Global Prime
« Reply #453 on: February 13, 2014, 10:11:04 PM »
hi jeremy can you just give me the IP address of the correct demo server. thanks, that way I can use build 509. thanks


Offline jemook

  • Verified Vendor
  • Full Member
  • ***
  • Posts: 337
  • Global Prime - the broker that's on your side.
Re: Global Prime
« Reply #454 on: February 13, 2014, 10:44:05 PM »
hi jeremy can you just give me the IP address of the correct demo server. thanks, that way I can use build 509. thanks

Please email me - jeremy.k@globalprime.com.au

Offline jemook

  • Verified Vendor
  • Full Member
  • ***
  • Posts: 337
  • Global Prime - the broker that's on your side.
Re: Global Prime
« Reply #455 on: February 14, 2014, 02:19:07 AM »
Jeremy, is there a possibiliy to do a B2B transfer from FXPrimus to GP?

Hi Ultracat,

Just coming to you with an update. I sent 2 emails to FX Primus support about your request and they did not respond at all. I just sent a third follow up but don't like my chances. Not impressed.

Regards,
Jeremy

Offline ultracat

  • Hero Member
  • *****
  • Posts: 1690
  • All business.
Re: Global Prime
« Reply #456 on: February 14, 2014, 03:45:52 AM »
Thanks for the effort Jeremy.  When I get around to it, some funds will be coming GP's way, it'll just take a little longer.  I'm thinking this whole MT4 version debacle is an opportunity to shut things down for a bit and maybe move some funds around. 

Offline 4EverMaAT

  • Jr. Member
  • **
  • Posts: 75
  • Forex Automation Expert
Re: Global Prime
« Reply #457 on: February 14, 2014, 03:50:13 AM »
hi jeremy can you just give me the IP address of the correct demo server. thanks, that way I can use build 509. thanks

You can still take the server config files from builds >509 and use them with b509.  Just copy the config folder of the b600 or whatever is connecting properly to the b509 install folder.  You might have to create a new demo acct, although the one created with the new build should be ok.
Are your trading strategies fully automated?  AwarenessForex.com

Offline PML100

  • Jr. Member
  • **
  • Posts: 17
Re: Global Prime
« Reply #458 on: February 14, 2014, 07:51:31 AM »


Quote
When it comes to slippage its very hard to compare GP vs other brokers. We are the only broker out there that proves we dont 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 cant compare the GP fill vs theirs.


Quote
Theres 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 cant 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 youd like to do a real comparison.

LMAX and b-book, you are joking right. They are an MTF Jeremy, a whole level of transparency higher than the bog standard STP MT4 GP offer.

Although I commend you for a) your customer service and b) your transparency in proving you don't b-book, stating you are the only broker out there that prove they don't b-book is taking it a stretch too far don't you think.

I'm all for pushing one's USP's but be careful to not stretch it too far with statements that a) don't make sense and b) can't be backed up with factual evidence - just comes across like cheesy marketing otherwise.




Online Eric

  • Full Member
  • ***
  • Posts: 259
Re: Global Prime
« Reply #459 on: February 14, 2014, 08:53:29 AM »
+1

That's right - LMAX do NOT b-book: It's an exchange and the key of their level of transparency. To my mind, no comparison at all vs. other brokers to date. Simple.


LMAX and b-book, you are joking right. They are an MTF Jeremy, a whole level of transparency higher than the bog standard STP MT4 GP offer.



Offline jemook

  • Verified Vendor
  • Full Member
  • ***
  • Posts: 337
  • Global Prime - the broker that's on your side.
Re: Global Prime
« Reply #460 on: February 14, 2014, 09:11:58 AM »


Quote
When it comes to slippage its very hard to compare GP vs other brokers. We are the only broker out there that proves we dont 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 cant compare the GP fill vs theirs.


Quote
Theres 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 cant 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 youd like to do a real comparison.

LMAX and b-book, you are joking right. They are an MTF Jeremy, a whole level of transparency higher than the bog standard STP MT4 GP offer.

Although I commend you for a) your customer service and b) your transparency in proving you don't b-book, stating you are the only broker out there that prove they don't b-book is taking it a stretch too far don't you think.

I'm all for pushing one's USP's but be careful to not stretch it too far with statements that a) don't make sense and b) can't be backed up with factual evidence - just comes across like cheesy marketing otherwise.

Yo PML

So I'll start off by saying I'm really enjoying read your thread on True ECN and to be honest I've learnt a lot from it too.

I don't profess to know everything about a brokerage but I'm learning fast. You need to remember I've only had a year under my belt working as a broker and before then I knew a lot about being a trader but really not much about the brokerage world.

In the last year I've learned so much and been privy to many deep insights from all the talks we have from our close relationship with our LPs, Integral, OneZero, platform providers, other brokers and retail and institutional traders. It's been an overwhelming assault on my brain and I love every second of it. This is the most fun and rewarding job I've ever had and I wouldn't trade it for the world.

One of the things I've learned from all of this is that everyone is looking for an honest, reliable, fair and open broker that they can trust. This goes for our LPs and everyone else we work with. I believe that not many brokers come close to offering what we do and people are catching on and FAST.

Anyway with LMAX I actually don't know much about them - we aren't the only straight A-book only broker and they may be too. I never said they are B-bookers, I said I don't know for sure.

And that's the issue, I don't know the inside operations of how another broker conducts their business. I said that I won't compare our fills to other brokers because I don't know for a 100% fact that they put all trades through which means I don't know what feed the fill was on. Unless a broker can prove they aren't b-booking then I won't compare. A B-book fill is very different to an A-book fill and people need to know that.

There is hardly any transparency in this business and it is EVERYTHING in forex because every trader has been ripped off, cheated and burned a million times. I think we are a shining light in this industry and we set an example to others.

Proving that we don't take the other side of trades and thus are ON OUR CLIENTS SIDE is the best thing you can do to make a trader feel comfortable. It's our point of difference and it means the world to our traders.

And yes we offer MT4 to retail and yes it may be bog standard but it's industry standard. If you knew what we do on the institutional side of things in terms of connectivity and what we offer I think you'd be pretty impressed.

Our traders know what we are about and I'm loving that so many of them are coming out of the woodwork and talking about their experience. We are one of a kind mate and I'm proud of it.

Anyway happy to entertain discussion with you, keep it up you sound like you really know your stuff and I'm looking forward to learning more from you. Have a great weekend.

Cheers,
Jeremy



Offline 4EverMaAT

  • Jr. Member
  • **
  • Posts: 75
  • Forex Automation Expert
Re: Global Prime
« Reply #461 on: February 14, 2014, 01:17:57 PM »
If anybody else feels that we are wrong in our judgement please let us know as I believe we have acted fairly in this situation.

I've also a question for the others:

Who thinks, that it is normal, to disable trading for 3 minutes at NFP, only beacause an EA tries to delete an order (because it's high spread protection)?
Is it really my fault, or the brokers fault?
...
Yes this is the same :)
At that time I moved some of my funds from Armada to other brokers, to test them.
But I had to find out, that Armada is still the best, and every other broker I tried is only worse.
I was hoping that GP could be better, but I almost always got bigger slippage, and now this....
(I've said that Admiral had 0 slippage, but I had to find out that they were b-booking, and after 60% profit in 1 month, I had slippage there also, so I left them)

also from Armada topic:
I still find Armada the best broker. Even with slippage.
I have tried a lot others, but usually I got the lowest slippage on my Armada account, and the best service from their staff.

Also they are one of the few brokers, who admit, if there was an error on their side, and even pay back my loss, that their error caused.
For example Lmax has never ever admitted that they f*cked up something, and they never credited back anything to my account, even if they caused a loss. (However after paying 26k$ commission to Lmax in 10 months, I thought I'm not the smallest client, and I maybe get better service)

now we are working on jforex+fix api version of the EA I'm using, I hope in a few months we can forget MT4, and brokers connected to MT4...

I do know from experience that NFP, FOMC announcements can occasionally cause some extreme volatility, resulting in the platform freezing or delays in modifying/closing a trade for up to 10 min after the announcement. The delays can be for a few seconds, 20, 30, 60 seconds PER REQUEST depending on broker and volatility.  Remember this is mt4 we are dealing with here.

3 minutes of intentional trade disabling seemed a bit bizarre. I do see that the 3 min issue was later resolved and that GP later gave you the benefit of the doubt with a refund.  The point of the matter extends beyond the 3 min delay due to a decision of the LP.  There are a lot of reasons a delay in execution can occur on a trading platform (or API) during extreme moments of volatility.  The methods you chose to manage your trades assumed lightning [round trip] execution.  For example, suppose you would have been filled and the market reversed sharply past your stop?  I use cost averaging very often and I can recall a couple of times where my Take Profit was technically hit, but because of the volatility, I was filled at a loss.  I've survived gaps > 70 pips in GBP during other periods of volatility. The difference is that I take that into account when I am configuring the algorithm.  I've traded over 1000 lots through GP over almost a year with at least 10k or so order tickets through a variety of trading conditions as the EA practically swing trades throughout each trading day over several pairs.

I never use pending orders in mt4 or any platform and would not recommend it, especially during news and periods of high volatility.  Especially with algorithmic trading, it is better to let your EA handle the entry detection internally, and then send a market/limit order as the signal is generated.  Unless you are doing HFT where you have co-location and have <100ms round trip order routing, what you are doing doesn't seem sustainable long term, at least during high volatility.  This is very unlikely unless you have a special relationship with LP.  Similar results of trying to implement HFT-like order fills across several brokers seem to confirm this. 

BTW, with api access I do not think you will be able to cancel stop orders when they are working, assuming they will allow you to use stop orders.  An order can only be cancelled if it has not already been activated. Keep in mind that your "request" is competing with perhaps 100k other request simultaneously.    But like Jeremy said, perhaps GP is not the best place for your strategy.  I hope you find a setup that is compatible with that kind of strategy and order routing requirements.
Are your trading strategies fully automated?  AwarenessForex.com

Offline aagarcia

  • VIP
  • Sr. Member
  • ****
  • Posts: 1342
Re: Global Prime
« Reply #462 on: February 14, 2014, 01:40:57 PM »


Quote
When it comes to slippage its very hard to compare GP vs other brokers. We are the only broker out there that proves we dont 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 cant compare the GP fill vs theirs.


Quote
Theres 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 cant 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 youd like to do a real comparison.

LMAX and b-book, you are joking right. They are an MTF Jeremy, a whole level of transparency higher than the bog standard STP MT4 GP offer.

Although I commend you for a) your customer service and b) your transparency in proving you don't b-book, stating you are the only broker out there that prove they don't b-book is taking it a stretch too far don't you think.

I'm all for pushing one's USP's but be careful to not stretch it too far with statements that a) don't make sense and b) can't be backed up with factual evidence - just comes across like cheesy marketing otherwise.




FXPIG is a broker that does not B-book.  So GP is NOT the only one. BTW, If you trade a micro account below .1 lots then you know FOR SURE that you are being B booked. But even above that you can still be B booked until of course you become successful then they pass you on (or in some cases play tricks to make you lose). So many dirty brokers out there and there is really only a handful of honest ones that just make money off you just from commissions.
« Last Edit: February 14, 2014, 01:44:00 PM by aagarcia »

Offline John Henrik

  • Verified Vendor
  • Sr. Member
  • ***
  • Posts: 583
  • Forex Polygon
Re: Global Prime
« Reply #463 on: February 14, 2014, 01:58:55 PM »
Quote
FXPIG is a broker that does not B-book.  So GP is NOT the only one. BTW, If you trade a micro account below .1 lots then you know FOR SURE that you are being B booked. But even above that you can still be B booked until of course you become successful then they pass you on (or in some cases play tricks to make you lose). So many dirty brokers out there and there is really only a handful of honest ones that just make money off you just from commissions.

many LP's accept micro orders from brokers. As far as I know, its the bigger % who does, and the lesser % who only goes as low as 0.1 lot.

Offline 4EverMaAT

  • Jr. Member
  • **
  • Posts: 75
  • Forex Automation Expert
Re: Global Prime
« Reply #464 on: February 14, 2014, 02:27:11 PM »
In regards to LMAX and others being a b-book broker, I didn't actually see where Jeremy said that any particular broker was a b-book.  He was stressing the point that there are no other brokers that he is aware of, including LMAX, that will go to the same lengths as GP in proving to their clients that they never b-book their trades.   As of this writing, that is an excellent selling point to have.  Maybe in another 1-5 years, it will be the other way around....where brokers who cannot prove their LP relationships will have to either show their b-book model or be forced out of business to others that do.

The whole b-book negative publicity thing would have been avoided if brokers were more forthcoming on how they handled risk.  But they remained 'shadowy' and it took forums like this, reports like ForexMagnates, and a growing negative sentiment over the banking industry in general to shine a bright light on what actually takes place when exchanging currencies (for traders, speculatively).  So GP advertising "trade receipts" and explaining how your trades are routed to LP may seem trivial to some, but it is having a real effect on how retail traders are becoming more informed.

An additional note on LMAX:  they do prove transparency in a different way....by proving that they are the first and perhaps only [regulated] fx exchange (central order book, uniform rules applied to all contract participants).  I'm very impressed with what they were able to do over the last 3 years or so in terms of bring this type of liquidity seamlessly to the masses, above the table. I don't consider LMAX to be a broker in this regard.  It is the best attempt I've seen at a speculative FX marketplace.  But that's for the Lmax thread perhaps?
Are your trading strategies fully automated?  AwarenessForex.com

 

browse forum

* Recent Posts

Re: FX Autotrader Elite by diyforexskills
[Today at 11:18:14 AM]


Re: How can I learn Forex? by drunkfx
[Today at 05:45:51 AM]


Re: What are the benefits of Forex forum? by drunkfx
[Today at 05:45:12 AM]


Re: Will forex become the most popular Earning platform in future? by fxopen78
[Today at 01:50:33 AM]


Re: EUR/USD by Eliza Abrams
[Yesterday at 01:54:45 PM]


Re: Bitcoin Discussion by Humble Trader's Fx
[Yesterday at 12:49:04 AM]


Re: Bitcoin Discussion by fxopen78
[Yesterday at 12:44:11 AM]


Re: Uk tax on forex trading by vik2001
[June 01, 2020, 07:55:57 PM]


Re: Bitcoin Discussion by Humble Trader's Fx
[June 01, 2020, 03:33:22 PM]


Re: EUR/USD by Eliza Abrams
[June 01, 2020, 02:57:14 PM]