Global Prime Pty Ltd had claimed on its website that it has an extensive list of more than 20 Liquidity Providers, and had also claimed to source for the best pricing from these Liquidity providers for its clients. Proof of such claims can be found on the screenshot of their website as attached here:
In March 2021, while I was going through my past trade receipts, I found out that the Company did not execute my trades in accordance with the claims they’ve made on their website. Instead, over one thousand trades on 2 of the instruments, US30 and XTIUSD, were executed solely with one counterparty only. Below is a small sample of the 1000+ trades placed on the US30 and XTIUSD:
Since I can only have 10 attachment in one post, I will not spam you guys with similar trade receipts. If you're interested, you can see more of them here:
But as you can see from the sample trade receipts, every single one of the trades were executed with a single liquidity provider named Vidarr, and this is the case for all 1050 trades executed on the US30 and XTIUSD instrument on my account over the 5-6 months that I've been trading with them.
From its list of Liquidity providers and Counterparties, there are many who provide pricing for the US30 and XTIUSD instrument, like CMC and CFH(Finalto) for example. But Instead of sourcing for the best pricing for it’s clients like they claimed they would, Global Prime Pty Ltd had conversely chosen to forward all trades to a single liquidity provider only, and had also excluded quotes from other liquidity providers from its order book, as can be seen in screenshots above. This is what it looks like when there are other Liquidity Providers in its order book:
Now, the reason why they choose to only execute all clients' XTI and US30 trade with Vidarr despite its inferior pricing, is because of the connection the Director of Vidarr have with the Director of Gleneagle Securities Pty Ltd, they jointly owns GlobalPrime FX together, which I will prove to everyone here. The Directors of Vidarr can be seen here:
Notice the part highlighted in red. One of the Director's name is Mark George Davison. If we look into this guy:
You can see that he is the director of both GlobalPrime FX Ltd and Vidarr Capital.
And of course, if you click into Globalprime FX, you will find that it is owned by Mark Davison and Lance Michael Rosenberg.
And if you're wondering why the name Lance Rosenberg sounds so fimiliar, he is the Managing Director of Gleneagle Securities, who is also trading as GlobalPrime FX, as can be seen here:
All in all, what we can see from this is a really roundabout way of making it difficult for someone to trace where the clients' trades and funds are going to. But through the Director Mark Davison and Lance Rosenberg, we can see that Vidarr and Gleneagle is owned by each of them respectively, who both also own GlobalPrime FX. This means that their claims about being a true ECN broker was never really true, as your trades on the US30 and XTIUSD instruments did not ever leave their hands, and is just being executed internally, regardless of what better pricing is out there from other LPs, as they never had the intention of finding the best pricing for you.
Now, if you still have doubts after seeing all this, my next post will clear all your doubt when you get to see their questionable history of the companies some of them have managed in the past.
In March 2021, while I was going through my past trade receipts, I found out that the Company did not execute my trades in accordance with the claims they’ve made on their website. Instead, over one thousand trades on 2 of the instruments, US30 and XTIUSD, were executed solely with one counterparty only. Below is a small sample of the 1000+ trades placed on the US30 and XTIUSD:
Since I can only have 10 attachment in one post, I will not spam you guys with similar trade receipts. If you're interested, you can see more of them here:
Trade-receipt-44553817-14-Jul-20-Close hosted at ImgBB
Image Trade-receipt-44553817-14-Jul-20-Close hosted in ImgBB
ibb.co
Trade-receipt-44553817-14-Jul-20-Open hosted at ImgBB
Image Trade-receipt-44553817-14-Jul-20-Open hosted in ImgBB
ibb.co
Trade-receipt-44553845-14-Jul-20-Close hosted at ImgBB
Image Trade-receipt-44553845-14-Jul-20-Close hosted in ImgBB
ibb.co
Trade-receipt-44553845-14-Jul-20-Open hosted at ImgBB
Image Trade-receipt-44553845-14-Jul-20-Open hosted in ImgBB
ibb.co
Trade-receipt-44553939-14-Jul-20-Close hosted at ImgBB
Image Trade-receipt-44553939-14-Jul-20-Close hosted in ImgBB
ibb.co
Trade-receipt-44553939-14-Jul-20-Open hosted at ImgBB
Image Trade-receipt-44553939-14-Jul-20-Open hosted in ImgBB
ibb.co
But as you can see from the sample trade receipts, every single one of the trades were executed with a single liquidity provider named Vidarr, and this is the case for all 1050 trades executed on the US30 and XTIUSD instrument on my account over the 5-6 months that I've been trading with them.
From its list of Liquidity providers and Counterparties, there are many who provide pricing for the US30 and XTIUSD instrument, like CMC and CFH(Finalto) for example. But Instead of sourcing for the best pricing for it’s clients like they claimed they would, Global Prime Pty Ltd had conversely chosen to forward all trades to a single liquidity provider only, and had also excluded quotes from other liquidity providers from its order book, as can be seen in screenshots above. This is what it looks like when there are other Liquidity Providers in its order book:
Now, the reason why they choose to only execute all clients' XTI and US30 trade with Vidarr despite its inferior pricing, is because of the connection the Director of Vidarr have with the Director of Gleneagle Securities Pty Ltd, they jointly owns GlobalPrime FX together, which I will prove to everyone here. The Directors of Vidarr can be seen here:
Notice the part highlighted in red. One of the Director's name is Mark George Davison. If we look into this guy:
You can see that he is the director of both GlobalPrime FX Ltd and Vidarr Capital.
And of course, if you click into Globalprime FX, you will find that it is owned by Mark Davison and Lance Michael Rosenberg.
And if you're wondering why the name Lance Rosenberg sounds so fimiliar, he is the Managing Director of Gleneagle Securities, who is also trading as GlobalPrime FX, as can be seen here:
All in all, what we can see from this is a really roundabout way of making it difficult for someone to trace where the clients' trades and funds are going to. But through the Director Mark Davison and Lance Rosenberg, we can see that Vidarr and Gleneagle is owned by each of them respectively, who both also own GlobalPrime FX. This means that their claims about being a true ECN broker was never really true, as your trades on the US30 and XTIUSD instruments did not ever leave their hands, and is just being executed internally, regardless of what better pricing is out there from other LPs, as they never had the intention of finding the best pricing for you.
Now, if you still have doubts after seeing all this, my next post will clear all your doubt when you get to see their questionable history of the companies some of them have managed in the past.