If you have never heard of Vidarr Capital before, it is not surprising at all, they do not even have a proper website:
https://www.vidarrcap.com/
And on their 1 page website, you can see they do not even call themselves a liquidity provider, no license number or anything. You can even be sure if they are legally licensed to be a liquidity provider. Unlike other bigger names out there like Finalto(CFH):
https://www.finalto.com/liquidity/, or CMC Markets:
https://www.cmcmarkets.com/en-gb/connect/solutions/liquidity-provision, who is also in GlobalPrime's list of liquidity provider.
When I asked the representatives from GlobalPrime why was the other liquidity providers not included in the order book, they said it was impossible to aggregate the pricing for certain instrument as it is priced differently by different providers and took a snapshot of the pricing provided by the different LPs.
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And from the snapshot above, we could see that Vidarr indeed have the highest spread for both instrument among the liquidity providers.
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So what happened to removing potential conflict of interest between the best execution of the clients' trades and their profitability? If that was true, they would have chosen the provider with the best pricing, and not the provider that is owned by themselves with inferior pricing.
And the fact that they had to obscure the truth that of one director(Mark Davison) owns both Globalprime and Vidarr, and another(Lance Rosenberg) having ownership in both Gleneagle and Globalprime, is already suspicious enough.
I dug further into it and found out that Lance Rosenberg is previously the Director of Tricom Equities. That company was involved in market manipulation and got caught and fined a record $1.35million by the ASX.
https://www.stuff.co.nz/business/world/australia/2592146/More-Tricom-trouble
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So after the scandal with Tricom Equity, they renamed the company to StoneBridge Securities. We can see it is the same Lance Rosenberg as written on the Gleneagle Securities website:
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The reason Globalprime can so blatantly lie about being an ECN when they are not, and not get into truoble, is because they are backed by rich and powerful people like Lance Rosenberg. Lance himself escaped punishment while the other broker who was involved in another market manipulation case in Tricom Equities got banned for 6 years.
You can read from this article how Lance Rosenberg is backed by many rich and powerful individuals, who all have their identities hidden:
https://www.wendybacon.com/2015/how-very-private-developers-sold-welfare-street-without-title
And despite being rich, I suspect the he got some of his money by siphoning retails trader's fund through Globalprime into Vidarr, which is owned by a different person but somehow related to him.
I have been trying to map out their connections, but one more thing i can reveal for now is this:
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Lance Rosenberg owns another broker named FM FusionMarkets:
https://fusionmarkets.com/en
And the other director you see below his name is Phillip Edward Horner. And that guy is a director of Pepperstone Group.
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Pepperstone is now located in the Bahamas, and there's a reason why it shifted there instead of staying in a well regulated place like Australia.