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Author Topic: Global Prime  (Read 195439 times)

Offline 4EverMaAT

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Re: Credit Card funding available at Global Prime
« Reply #645 on: September 15, 2014, 12:39:40 PM »
.....
I have to agree with Jeremy, he is trying to protect his business and his rules make sense. Only a scamer would not have their name on their card or try to deposit more than $10,000.

Not necessarily.  Very common here to have a classic debit card without a name preprinted, issued right at the branch where you open or request a new debit card.  But usually there are ways to request getting a card with the owner's name preprinted on it (in english).  Although it seems like everywhere cards are limited in the max number of characters that can fit in the name slot. 
Are your trading strategies fully automated?  AwarenessForex.com

Offline jemook

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Re: Credit Card funding available at Global Prime
« Reply #646 on: September 28, 2014, 02:13:23 PM »
.....
I have to agree with Jeremy, he is trying to protect his business and his rules make sense. Only a scamer would not have their name on their card or try to deposit more than $10,000.

Not necessarily.  Very common here to have a classic debit card without a name preprinted, issued right at the branch where you open or request a new debit card.  But usually there are ways to request getting a card with the owner's name preprinted on it (in english).  Although it seems like everywhere cards are limited in the max number of characters that can fit in the name slot.

Yup, we've had quite a few requests for deposits with a credit card that has no name printed on it. Usually a pre-paid card or even some debit cards without a name. We just won't accept them, the risk is very real and we are taking extra precautionary measures to ensure all CC deposits / withdrawals are made by verified clients with verified cards.

Cheers,
Jeremy

Offline jemook

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Trade Receipts @ Global Prime Vs other brokers
« Reply #647 on: October 08, 2014, 05:57:43 AM »
Trade Receipts @ Global Prime Vs other brokers

Dear members of Donna Forex. This is an extremely important message if you care about your broker so please read through in its entirety.

As you already know our brokerage Global Prime prides itself on the trade receipts we offer on any trade taken by any client without question which shows which LP/bank filled the trade. These trade receipts come direct from Integrals trade reconciliation system and look like this:



Ive blurred out some of the sensitive information however clients get to see everything without anything hidden.

I keep reading excuses by other brokers as to why they dont offer a trade receipt.

Excuse 1 : Because it takes too much time

This is a fallacy its extremely fast and simple to lookup the trade, verify the FIX message, take a couple of screenshots and send to the client. Our clients actually rarely ask us for trade receipts the only time we get requests are:

  • When there is slippage over a high impact NFP/FOMC  style news event and the client would like to see how the order was executed ie rejections, time taken, which LP filled and depth of market.
  • A new client testing us out to see if we really do send all trades to the market
  • High level traders such as Donna FX member Geektrader who love scrutinising trades to ensure they are trading optimally and see if we can tweak things on our end for them, which we have done before to great success.

Sourcing a trade receipt is easier and faster than processing a withdrawal request which brokers do all day every day without complaints of it taking too much time. Do not accept this excuse!

Excuse 2 : Because it can be faked

This is why we take a screenshot from inside Integrals trade reconciliation system which stores in depth details of every single trade taken at Global Prime. Its not a simple cut and paste of the text which can easily be modified. It is a screenshot of a high level trade receipt showing minute details to help us and our clients ascertain whats going on with the trade in question.

These cannot be faked unless the broker is Photoshopping them which they would never do as it would take hours each trade to fake due to all the details just  look at the information on the above receipt good luck faking that. If there was ever a further claim that the receipt doesnt look right we would work with the client and Integral to get Integrals confirmation that the trade receipt was real and prove that the LP on the trade receipt really did fill the trade.

It is foolish to take the word of a broker that they do not B-book. The only way I can think of that a broker can prove to clients that they arent profiting from client losses is if they are offering the same high level Trade Receipt that we offer to all clients on any trade they take. If your broker is not showing you trade recepts like this on any trade taken then you simply cannot be sure they are not profiting from your losses.

Why it is essential for your broker to prove to you they dont B-book:

I keep hearing people say Who cares if the broker is profiting from my losses? Someone has to do it?. If you knew what some of the dodgier brokers get up to in this industry you would be aghast. Heres a quick example scenario by a broker who will be busted sooner or later for their dirty tactics:

Broker X runs managed investments through MAMs that they B-book knowing full well the trader will blow up and they will profit the clients losses. They basically run a call center calling mum and dad investors trading their life savings / super funds offering ridiculous returns by the trader and then when the strategy blows up and the clients complain Broker X says sorry that wasnt us we arent the trader, we are just the broker. They rinse and repeat this strategy over and over again, pocketing MILLIONS from the losses. Ive been reading on Myfxbook that clients who have been burned by this scam are finally cottoning on to the tactics of Broker X and action is being taken with ASIC to hopefully bring them to justice.

When you are running a business one of the biggest questions you ask yourself is How can I increase revenue?. For the dodgier B-book brokers this question then becomes How can I increase client losses?

At Global Prime the biggest question we are constantly asking ourselves is how can we make our clients more profitable? - profitable clients increases our revenue as they continue trading and generating commissions. There is no substitute for trading with a broker that stands by its ethics and morals by showing clients they are on their side and not profiting from their losses. This isn't marketing hoo-ha. We came to Global Prime to try and bring some transparency and honesty to the industry and hopefully other brokers will follow suit but it won't happen unless clients demand that they be allowed to receive high level trade receipts on their trades.

I urge you to have a look at our Forex Peace Army reviews we are one of the top rated brokers in the world with a 4.8 out of 5 star rating across 40+ reviews: http://www.forexpeacearmy.com/public/review/www.globalprime.com.au

Have a read through them and youll see why our clients love trading with Global Prime. They all know we are on their side and this is whats helped us become one of the best brokers in Australia if not the world for client satisfaction.

As always Im happy to discuss all this further if you arent trading with Global Prime you are missing out on an amazing broker experience.

Demand nothing less from your broker! The industry needs to change.

Cheers,
Jeremy
« Last Edit: October 08, 2014, 05:59:50 AM by jemook »

Offline GoldenBoy

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Re: Global Prime
« Reply #648 on: October 08, 2014, 06:51:34 AM »
I have no doubt that those brokers who won't provide a trade receipt for any reason, that these brokers run a b-book.
And that includes a popular broker on another thread who provided a 'partial' receipt because they need to hide their liquidity provider.
Most likely 90% of forex brokers are b-booking.
No Fear........Just Greed.

Offline jemook

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Re: Global Prime
« Reply #649 on: October 15, 2014, 04:52:39 AM »
I have no doubt that those brokers who won't provide a trade receipt for any reason, that these brokers run a b-book.
And that includes a popular broker on another thread who provided a 'partial' receipt because they need to hide their liquidity provider.
Most likely 90% of forex brokers are b-booking.

The thing is you just don't know unless the broker is proving it to you. Believing that a broker is "A-Book Only" just because they give you their word is LOL-worthy.

Cheers,
Jeremy

Offline myLIVEaccount.com

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Global Prime - mobile MT4
« Reply #650 on: October 17, 2014, 06:32:44 PM »
I'm having problems today with connection to my GP accounts via mobile MT4/android. Is anyone else experiencing it?

Offline jemook

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Re: Global Prime - mobile MT4
« Reply #651 on: October 18, 2014, 10:31:20 AM »
I'm having problems today with connection to my GP accounts via mobile MT4/android. Is anyone else experiencing it?

Hi Milan,

Metaquotes updated the server list on the MT4 apps and have let us know that if any clients are having trouble logging in to Android/iPhone MT4 apps to please reinstall the app on your phone and you should be up and running again.

If the issue persists after this please let me know ASAP

Thank you

Cheers,
Jeremy

Offline myLIVEaccount.com

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Re: Global Prime - mobile MT4
« Reply #652 on: October 18, 2014, 11:29:45 AM »
Thanks Jeremy, I'll try it...

I'm having problems today with connection to my GP accounts via mobile MT4/android. Is anyone else experiencing it?

Hi Milan,

Metaquotes updated the server list on the MT4 apps and have let us know that if any clients are having trouble logging in to Android/iPhone MT4 apps to please reinstall the app on your phone and you should be up and running again.

If the issue persists after this please let me know ASAP

Thank you

Cheers,
Jeremy

Offline eagle75

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Re: Global Prime
« Reply #653 on: October 20, 2014, 02:57:08 AM »
is your max leverage is 200:1 ? and can it be 400:1 ? thanks ....

Offline jemook

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Re: Global Prime
« Reply #654 on: October 20, 2014, 03:13:53 AM »
is your max leverage is 200:1 ? and can it be 400:1 ? thanks ....

Hey there,

1:500 requests are instantly approved for account balances less than $1,000

Otherwise anything above 1:100 and up to 1:400 requires a questionnaire to be filled out by the client and approval before we can update the leverage. Please email me at jeremy.k@globalprime.com.au with your request and I can get the Q's over to you. Thanks!

Cheers,
Jem

Offline J16

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Re: Global Prime
« Reply #655 on: October 20, 2014, 03:48:09 AM »
Hi Jeremy,

Want to check how much fee is the credit card deposit? Will it be the same if I deposit AUD using credit card?

As ICM charges less for credit card deposit if is under AUD...think 1.8% for aud and 3% for any other currency.

Thanks



Offline jemook

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Re: Global Prime
« Reply #656 on: October 20, 2014, 04:04:09 AM »
Hi Jeremy,

Want to check how much fee is the credit card deposit? Will it be the same if I deposit AUD using credit card?

As ICM charges less for credit card deposit if is under AUD...think 1.8% for aud and 3% for any other currency.

Thanks

Hello

It's a 3% charge regardless of the currency transferred. If you are in Australia it's better to do a bank wire / Bpay which is free within Australia at most banks.

Cheers,
Jeremy

Offline jemook

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Re: Global Prime
« Reply #657 on: October 30, 2014, 12:13:44 AM »
Every now and then I get a good Question from a forum member - will post up the answers..

Quote from: UserX
Jemmok-
There has been a lot of talk about High Frequency trading since Michael Lewis's book came out.

I am curious, can you tell which liquidity providers are HFTs?  Can you screen them out? As I understand it one of their tactics is to make offers that they will not honor. So in your examples above they would be one of your first tier one providers but then fill at a wider spread.

Do you think they actually impact the typical trader?

Good question! We only work with Tier 1 banks such as Credit Suisse, Nomura, Morgan Stanley, RBS, UBS, Deutsche Bank etc. We are constantly monitoring execution times and rejections and if we see that an LP is holding on to trades for too long or rejecting during normal market conditions we have a frank discussion with them and if they don't improve we remove them from our feed.

The good news is if an LP isn't working to our expectations there's others we can add until they fix up their stream and become more competitive.

We also send out monthly stats to the LPs to show them how they are ranked compared to the other LPs in an effort to get them to tighten up their pricing so they are higher up the order book and get hit more often. 

Our business is all about making sure our clients are happy and the LPs are happy. So far so good!

Cheers,
Jeremy

Offline jemook

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Re: Global Prime
« Reply #658 on: December 01, 2014, 07:07:08 AM »
Hi all,

Are there any Global Prime clients keen on FX Wire Pro news in MT4? Anyone used it? Would be great to hear some feedback.

http://www.fxwirepro.com/

Thanks!

Cheers,
Jeremy

T_Hair_DFX

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Re: Global Prime
« Reply #659 on: December 01, 2014, 06:42:37 PM »
Hi Jeremy,

We use FX Wire Pro on our CQG FX platform.  I personally like it, and we have not had any negative feedback on it thus far so am assuming traders enjoy it as well.  That or they don't use it  ;) .


 

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