Global Prime
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Global Prime
Overall
Best retail mt4 broker i ever had in my entire trading career. Their spreads and liquidity for all 28 pairs are incredible impressive. 😎
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I think you aren't right they don't take over the wire bank transfer fees, they say "well, you should pay the fees, otherwise intermediary banks will deduct their fees from your transferred amount"
Yes funding via Visa makes sense but they charge 3% and when I withdraw via netteller they charge another 2% and them some funds for the wire bank transfer fee. This is at least 5% only for the payment.
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GP covers the wire bank transfer fees ON THEIR END. Any intermediary fees and such are not covered. Your bank may charge fee to send/receive. I do know that some banks charge as much as $50USD to send a wire. I do not know about neteller, but assume that fees neteller charge are outside of their control. Credit card they charge 3-3.5%, which is mainly to cover real processing costs.
You have to look at it like this: take your chances at a 'casino' [bucketshop] broker where you may never get your deposit back. Or go with a proper broker who prove they do not trade against you and pay a little extra. I've been around long enough to know the answer.
In europe, you could check out LMAX. I know a few more, but you need to send private message. I think it is unfair to discuss other broker here; the main topic is about Global Prime Au.
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Netteller work normal :( only .
Best regards
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Problem is funding and withdrawal for people out of Australia. Netteller charges, Visa charges, Bank Transfer also charges a lot. I would like to choose that broker but how?
Have anybody a solution for europe customers?
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Really good broker. So glad I found them
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Good experience on you :). ....deposit withdrawal methods are missing, only bank cards, bank transfer and neteller. Not enough at all :(
Good trades.
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Global deposit withdrawal methods are missing, only bank cards, bank transfer and neteller. Not enough at all :(
Good trades.
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Offering CFDs, pricing is like nowhere to be seen, same top notch execution model, same transparency, I am monitoring quite a few accounts there is never a problem with anything, support is amazing, withdraws are processed within 2-3 hours, hitting bank accounts in Europe same day, free of charge or small charges applied depending on the amounts.
I compare Global Prime to the following Brokers - JFD Brokers, FXCM and SwissQuote, so much said for the retail sector, the new benchmark is Global and untouchable for any other within the MT4 offering. Trust, well trust takes time and no matter what others have to say - simply compare a broker to another, cost of trade, conflict of interests and transparency is essential.
Keep up the great work guys, I hope this will be the new standard soon with who makes it to offer such service.
Hope this helped most people who are looking to open an account with a new broker, see it and test it for yourself.
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Thanks for your detailed information....best wishes to you
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Was not trading with GP during that time. i did monitor some prices there via an old live acct issued to copy trades to.
I will begin trading again in a week or so.
My understanding is that GP kept pricing throughout SNB. As a real ECN, traders connected can still make real buys/sells (bid/ask). Slippage was massive for those on the "wrong" side. as liquidity was nearly 0, and the spreads reflected this. Your stop loss would have been filled at the next available price, which may have been several hundred pips away. But at least you got out at an honest price. This might be preferable to getting a [fake] price feed cut off altogether from a bucket shop (regulated or not), and then you have to trust that their re-quote is correct. Not to mention not being able to exit or reenter position.
There is a youtube video on how Saxo Bank requoted a client who was on the CORRECT side. Had the guy been trading with a more proper PoP like GP, he should have been able to make a withdraw with little issues and had it processed (actually sent) within 2 business days of request.
Most retail traders should not have been trading a pegged currency anyway, but that is a separate argument.
PS: here is video:
https://www.youtube.com/watch?v=CFgxe9HIBfA
there is a followup video also (part 2).
At least he had screenshot proof. Imagine the other clients who were not quick enough to do this and only relied on the broker record. An agency model keeps things honest on both sides. Market making is ok also, but again, there is a certain degree of trust and a question of structural conflict of interest between broker loyalty vs clients.
Hope this help you.
Overall
Thanks for your reply.
Hi There....May I know your experience with this broker since 2015 either you are a trader or the broker rep itself , how did GP react to SNB sudden intervention on CHF with movement of over 2,000 pips in few minutes in Jan 2015..? Was STOP LOSS filled for who were long on CHF pairs? or it was large negative slippage like most of other brokers without filling any SL?
Regards,
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1:100 is the standard
You can REQUEST 1:200 max leverage after an risk interview. I think XAUUSD (Gold) is still capped at 1:100
Also, GP does margins a little different from most brokers I've seen. Instead of using the base currency to calculate margin, they "pretend" all pairs use USD as the base currency. This is to match how their prime broker calculates margin. Works well on pairs like XAUUSD, GBPUSD, etc. (USD exchange rate > $1.00) But you get less buying power on pairs like AUDUSD, NZDUSD, etc. (USD exchange rate < $1.00) It evens out, but it is something to consider.
note: There are usually rare circumstances where they will reduce leverage across certain pairs, like when BREXIT was announced. All clients will get an email stating the reason for the change, and how long it is expected to occur.
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What is maximum leverage offered on real accounts?
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Great to hear all the nice reviews here. Thanks for sharing your input! We will keep doing our best to ensure our clients are enjoying their time with us.
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1 Year there, and is the best so far MT4 ...one of the very few Brokers, I can trust under MT4 and retail sector.
Technology - PrimeXM, with best liquidity in the industry behind them - Pariba, City, JP Morgan, CHF ... the engine of the MT4 bridge willl hoock you under 150 ms with the best prise at the moment, real fills, real fills report!
test and compare ...nothing else to say.
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That is likely because of where you placed the stops vs TP. If the broker is running a-book, there is little control over where you get filled. You must remember that slippage is caused by the difference between the quoted price and where it is actually filled. If you are trading WITH momentum (which a stop loss is), then the slippage will likely be negative a lot. A stop loss is simply a pending order that becomes a market order when it is touched. They can trace the order and see how long it took at each checkpoint. If anything is unusual, they can then take it up with the LP or even fire an LP if their last look is too long or improperly configured.
If you trade counter-trend (against the momentum), the slippage is positive a lot of the times.😎
I just did a withdraw and saw that I was charged 0.00 additional when it arrived. But when I deposited money, the bank that was used wanted $30 USD in estimated intermediary fees ON TOP OF $45 standard int'l wire fee. It can work both ways and it depends somewhat on bank's relationships with other banks. Au banks tend to be good at covering all intermediary fees. USA banks tend to be terrible. Banking system in general is full of sh*t anyway. So what can we do?
And GP has always been very fast with replies. And generally very transparent with their explanations. Other brokers (even in Australia) should take notice and stop trying to churn/burn their clients.😎
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I also wrote a review on Forex Peace Army which would be helpful for other users but it hasn't been published yet. So writing my experience here-
Excellent - You can contact GP and their response is fast. You can contact them regarding anything to your account and they reply fast. It is very important that you can communicate easily with speed to your broker.
Bad - Most of my Stop Loss orders were executed with negative slippage of few pips during normal trading hours. This results in a bad risk reward ratio. At the end of the day those few pips of negative slippage adds up to your losses. Take profit orders were mostly executed on price set with very few having positive slippage. But the number of time negative slippage occurs is a way lot more than positive slippage.
Bad - I was charged £12 each for two withdrawals and £6 for another. As per GP these fees are charged by intermediary banks.
Finally I am sharing this so that prospective traders can make informed decisions. Now different traders have different needs which they look for in a broker. Always do your own research thoroughly and extensively to see what clicks for you before putting money to any broker.
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That has happened to me not often but a couple of times long ago when I traded with this broker. Although volatility was not the weakest, don't know how that goes now.
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Are the platform freezes something that happens very often?
