Global Prime
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Global Prime
Overall
Global deposit withdrawal methods are missing, only bank cards, bank transfer and neteller. Not enough at all :(
Good trades.
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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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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.😎
Overall
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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Are the platform freezes something that happens very often?
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Been with them a year now, and I have noticed the platform freezes during news releases...not pleased when an open position is not updated real time for several minutes :(
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Good brokers.. Even though they're small company but start growing, I can say, they're very honest to give the best services they can provided. Just ask what ever you want, I'm pretty sure you will get the answer.
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In terms of execution, cost of trade and trading conditions in general, an absolute top Broker. Over 60% of my trades are with positive slippage, this guys are setting new standards no question.
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They really set a standard of a good broker should have. Transparency and A book model keep them unique in this market maker FX industry.. Keep it up! btw, email reply can be faster..
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Global Prime is so far in front of their competition they must at times feel lonely! Without a doubt the most transparent broker out there. Ask any other broker to provide a receipt from the bank that took your trade and see how you go. If you find a more honest and helpful broker be sure to post your discovery; I wont hold my breath waiting!
If you want to trade against the market and not your broker then Global Prime is the broker of choice.
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It's not a bad broker, but it's worse than average by almost all positions. I'd prefer some others.
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Very slow support and 4 days for deposit processing.
Not for me!
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Full transparent Broker with no BS. The only Aussie Broker not running an A & B book. Customer service is beyond excellent very helpful You get instant answers to your questions and requests. Maybe they are not the biggest but sure they are the cleanest game in Australia.
Highly Recommended for professional traders who would understand the quality and difference in the price feed and executions.
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excellent broker very happy with service, execution, speed and cost
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Very good broker, their conditions are excellent and their support/service after becoming a client is perfect, normally only before I fund with a broker. I have a MAM account with them, and am more than satisfied!
- hans.
