Global Prime
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Global Prime
Overall
My first broker. No problems and very good attention in general.
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Very good broker
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Global Prime has all you need.The only think better would be in Canada since they have they best investor protection plan IN the WORLD. But Australia is OK too.
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I have used Global Prime for several years now. Easy to work with. Straightforward and a sense of honesty. Good execution and pricing. They keep the leverage fair as well if you're serious. Guys like Jeremy deserve your business as we serve each other.
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good broker..
been using for 2 years
withdrawal pretty fast and 24/7 cs on discord
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excellent broker so far
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Good Broker
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Everything is good but high price for comission
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Top notch broker all around, fast executions, love the 0 commissions, low spreads, positive slippage to the client sometimes possible here. super customer service, fast friendly, and really the best broker I have used for forex in 20 years. Decent swaps, no tricks, they are an A book broker that doesn't prey on their clients.
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Global Prime is very good brocker.
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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!
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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.
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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.
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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.
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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.
Overall
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.
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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.
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"...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.
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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
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anyone tried their execution during high news time ? is there a requote ?
