GlobalPrime is a dishonest scam broker too. Please don't fall into their trap.

umpar

Recruit
Messages
3
You were previously saying that when a client executes a trade, it goes from Globalprime to Gleneagle Securities, then from Gleneagle to Vidarr? It does not look that way from this screenshot either.

In your previous post you said the trade is executed using 'Skout', but now you're saying there is one more party involved in between, and it's PrimeXM? At which part of the entire equation does PrimeXM come in?


Is this PrimeXM the external software that gives you the ability to interfere with your customer's trade?

View attachment 66342


The "client" that this screenshot is referring to is the Broker, who is the client of PrimeXM. So PrimeXM are providing white label license, software that simplifies the process of B-Booking or Book management in general, and also allowing brokers to change between different execution models easily and seamlessly just by changing the setting.




That would be good. On top of that, I would also like to request that you to provide the tick and spread data for the US30 and XTIUSD from different liquidity providers like CFH and CMC from the period of July 2020 to March 2021 to reference if Vidarr really have the best pricing as you have claimed. Or that all trades were executed with Vidarr because of its affiliation with Globalprime FX, and all other LPs with better pricing were excluded from the order book because it benefits Globalprime more that way.
Care to respond to this @jemook ? These are some excellent questions and the evidence presented will finally put to rest the claim that Globalprime is not a ECN. Why are there so many middlemen involved at every step? To quote @Shiro21

"In your previous post you said the trade is executed using 'Skout', but now you're saying there is one more party involved in between, and it's PrimeXM? At which part of the entire equation does PrimeXM come in?"

So now there is primeXM who is the aggregator for all client trades and connects clients to your liquidity providers. Isnt this what the skout software does? Why do you need another external software to mirror the role of the FIX engine?

Do you have the tick and spread data? Curious about that as well.
 

jemook

GlobalPrime.com Representative
Messages
20
Care to respond to this @jemook ? These are some excellent questions and the evidence presented will finally put to rest the claim that Globalprime is not a ECN. Why are there so many middlemen involved at every step? To quote @Shiro21

"In your previous post you said the trade is executed using 'Skout', but now you're saying there is one more party involved in between, and it's PrimeXM? At which part of the entire equation does PrimeXM come in?"

So now there is primeXM who is the aggregator for all client trades and connects clients to your liquidity providers. Isnt this what the skout software does? Why do you need another external software to mirror the role of the FIX engine?

Do you have the tick and spread data? Curious about that as well.

Heya umpar,

The evidence we already posted shows that we fit the retail definition of ECN. The following posts explain most of what you are asking about.

1. On Vidarr, Global Prime & Gleneagle Relationship and our A-book Model
2. Addressing main concerns, How we make money, Global Prime as an ECN broker
3. Educating on trading as principal and the legal relationships of LPs, brokers and clients
4. Further clarification of legal terms, where we disclose about ECN and Non-ECN products
5. Our Trade Flow Process explained in simple steps and how Batch Hedging works

PrimeXM

Every MT4 broker must use a bridge/aggregator technology stack to connect their liquidity to MT4. The big players are PrimeXM and OneZero. Yes, these technology platforms do give the ability to choose to b-book which is what most brokers do.

We don't b-book or profit from client losses, which is why we've chosen to call ourselves ECN while every broker has removed their use of the term ECN, some with notices from ASIC about it.

Skout

Skout is our FIX engine and has already been explained (click here). We use it for batch hedging small tickets to save from exorbitant small ticket fee's at the Prime Broker.

Skout is NOT used for CFDs so the XTIUSD and US30 trades @Shiro21 is talking about are executed with liquidity provider Vidarr through the PrimeXM bridge/aggregator.

Tick / spread data

As has also been explained other LPs are excluded from the order book for the XTIUSD and US30 CFDs since their prices cannot be aggregated with Vidarr due to:

1. Prices being different as per the table below which has already been posted
2. There is no central counterparty to clear the trades

unnamed.png

In an earlier post he said that Vidarr has the widest spread as seen in the table above, however, the spreads from CFH and CMC are raw and we make no money on them. The Vidarr spread includes mark-up which is our revenue.

If we marked up the CFH or CMC prices they would be worse than Vidarr.

For any onlookers, our XTIUSD price is usually one of the tightest in the world. We aim to be the tightest across Index and Commodity CFDs. It requires constant refinement with our liquidity providers including Vidarr.

Meanwhile check out how much cheaper we are vs competitors verified by https://tradeproofer.com/ for May 2021 for commission adjusted spread.


USDJPY.jpg

USDCHF.jpg
AUDUSD.jpg
EURUSD.jpg

Providing nine months of tick data for CFH and CMC is a stretch. Shiro21 can analyse any trades and times when he thinks there was an issue. His trade receipts show the bid/ask spread when he executed his trades so he has all the data he needs.

Important note to everyone

If you're trading with Global Prime then you should check your trade receipts in a timely manner. We expect you to hold us accountable for each and every trade execution as it happens.

Shiro21's trades were executed in accordance with the information on our website, he just didn't check any of his trade receipts for a full 8 months of trading, thousands of trades and long after he stopped trading.

If a trader has an issue then it's expected to be identified and remedied immediately. You don't buy a car, do a few thousand kilometers (or miles!), then take it back to the dealer wanting a full refund because you didn't like it. We make all information available on our website and in our trade receipts in the interest of complete transparency. This is how all businesses should operate!

It's amazing how someone so detail orientated like Shiro21 did not bring ANY of this up with us during his time with us. You'd think he would be scrutinizing all the above BEFORE opening a brokerage account as well as with every trade as they happen if the broker offers trade receipts like we do.

Needs repeating

I'm going to bring this up again for people that don't care to go back one page.

There's a huge issue here where many of the accusations labeled on us by Shiro21 are defamatory and tantamount to libel. Shiro21 keeps repeating this outright false accusation:

"Which proves my point that globalprime pass the trade to it's affiliated company Gleneagle Securities, which then takes the other side of the trade, trading against the client and profiting from it."

We do no such thing as I have repeated many times during this thread. Yet he still continues to make the false accusation.

The ironic part is that we are one of the only brokers in the industry not profiting from client losses or running b-books and we are educating traders and exposing the pitfalls of b-books through media and our YouTube series of how brokers make money:

Episode 1: How Forex Brokers Make Money https://bit.ly/3g1eLBx
Episode 2: Forex Brokers Profit from Client Losses https://bit.ly/3sWTnB1
Episode 3: Dealing Desks Exposed! https://bit.ly/31Ta0BK
Episode 4: REAL liquidity VS B-book ! https://bit.ly/39Q5zvB
Episode 5: The REAL REASON Brokers Offer 500:1 Leverage https://bit.ly/3cVP3MP
Episode 6: Why Forex Brokers Profile Clients https://bit.ly/3cWX2ZT
Episode 7: Market Making vs B-Books ! https://bit.ly/3w80OG6

I mean really, how crazy would we have to be to be exposing and calling out an ENTIRE industry while doing the same thing as them? We are regulated by ASIC who knows our profit models (and other brokers profit models) because they poll all brokers once a year for an extremely detailed dive into their operations.

We've been labelled as dishonest scammers by Shiro21 while we have the best rating, are the most transparent and actually have an ethical profit model. Yet here we sit next to actual scam concerns of brokers stealing money, not paying out, fake binary options strategies, money stuck at liquidated brokers, pretty girls on social networks stealing peoples life savings, manipulated trades.

Shiro21 had no issue with any of his thousands of trades while trading with us over almost a year of trading. He had every opportunity to come to us with an issue yet he did not, because there weren't any.

Only after the fact when he was done trading did he start his crusade against us - doing exactly the same thing he did to us that he did with another broker only 1 month ago (see Shiro's first attempt here).

I will continue to defend our company from the slander posted here. I'm not going anywhere and I hope that people can take the time to read through my posts which debunk every myth Shiro21 conjures up.

Nothing raised in this thread concerns me apart form the falsehood presented by Shiro21 saying that we"trade against the client and profit from it."

The reason Global Prime can be so transparent is because we have nothing to hide. The same can't be said for almost every other broker out there b-booking you guys til the cows come home and we won't stop until that is exposed and every trader realises you've all had the wool pulled over your eyes.

Please let me know if there's anything else I can clarify.

Wishing you all the best with your trading umpar.

Cheers,
Jeremy
 

Shiro21

Private, 1st Class
Messages
64
PrimeXM

Every MT4 broker must use a bridge/aggregator technology stack to connect their liquidity to MT4. The big players are PrimeXM and OneZero. Yes, these technology platforms do give the ability to choose to b-book which is what most brokers do.

We don't b-book or profit from client losses, which is why we've chosen to call ourselves ECN while every broker has removed their use of the term ECN, some with notices from ASIC about it.

Right, so we're suppose to take your word for it without any evidence to back your claims.


Skout

Skout is our FIX engine and has already been explained (click here). We use it for batch hedging small tickets to save from exorbitant small ticket fee's at the Prime Broker.

Skout is NOT used for CFDs so the XTIUSD and US30 trades @Shiro21 is talking about are executed with liquidity provider Vidarr through the PrimeXM bridge/aggregator.

Funny how they choose to use PrimeXM, a software that allows them to B-Book, instead of using Skout, which they are already using it for other instruments.

Tick / spread data

As has also been explained other LPs are excluded from the order book for the XTIUSD and US30 CFDs since their prices cannot be aggregated with Vidarr due to:

1. Prices being different as per the table below which has already been posted
2. There is no central counterparty to clear the trades

View attachment 66446

In an earlier post he said that Vidarr has the widest spread as seen in the table above, however, the spreads from CFH and CMC are raw and we make no money on them. The Vidarr spread includes mark-up which is our revenue.

If we marked up the CFH or CMC prices they would be worse than Vidarr.

Why would they show raw prices for CMC and CFH and then show mark-up price for Vidarr as a comparison? It just doesnt make any sense. And if Globalprime truly is an ECN broker, they would collect a fix commission for passing your trade to the LPs, how would they make no money from it? Instead they pass it to Vidarr because they are making more money from their clients through this invisible "mark-up".


For any onlookers, our XTIUSD price is usually one of the tightest in the world. We aim to be the tightest across Index and Commodity CFDs. It requires constant refinement with our liquidity providers including Vidarr.

Meanwhile check out how much cheaper we are vs competitors verified by https://tradeproofer.com/ for May 2021 for commission adjusted spread.


View attachment 66447

View attachment 66448
View attachment 66450
View attachment 66449

You talk about having the tightest spread for XTI but is showing other pairs instead? Where's the XTIUSD spread comparison to other brokers?

Providing nine months of tick data for CFH and CMC is a stretch. Shiro21 can analyse any trades and times when he thinks there was an issue. His trade receipts show the bid/ask spread when he executed his trades so he has all the data he needs.

Such data is not available, because Vidarr is the only counterparty when i executed all my trades, and thus the price, spread and tick data for other of their so called 'LPs' cannot be found anywhere in the trade receipt. This is just another one of their lies to hide the truth from their client.

Important note to everyone

If you're trading with Global Prime then you should check your trade receipts in a timely manner. We expect you to hold us accountable for each and every trade execution as it happens.

Shiro21's trades were executed in accordance with the information on our website, he just didn't check any of his trade receipts for a full 8 months of trading, thousands of trades and long after he stopped trading.

I've already explained this in a previous post. Apparently, he is too busy blowing his own horn that he didn't even see it.

They have intentionally mix in ECN product with non ECN products. You would not be able to tell which is which if you did not dig deep into it like I did. Because a lot of the important information just isn't in the trade receipts.


If a trader has an issue then it's expected to be identified and remedied immediately. You don't buy a car, do a few thousand kilometers (or miles!), then take it back to the dealer wanting a full refund because you didn't like it. We make all information available on our website and in our trade receipts in the interest of complete transparency. This is how all businesses should operate!

In fact you can. That's what a warranty is for. If defects is found after a few months, then it gets replaced for free. If you knowingly make false claims about the specs of the car, then it is illegal. There are so many flaws to your argument that applies to the very circumstances surrounding my claims, it's almost like you're trying to prove me right.

And it's common for dishonest merchant to deny responsibility in many of such cases. Nuff said.

It's amazing how someone so detail orientated like Shiro21 did not bring ANY of this up with us during his time with us. You'd think he would be scrutinizing all the above BEFORE opening a brokerage account as well as with every trade as they happen if the broker offers trade receipts like we do.

This has also been covered in one of my previous post, about how i discovered the execution model of Globalprime. Jemook just chose to ignore it and throw around the very same wrong assumptions even after it has been explained. Just goes to show how he handle problems when it is not to his advantage.

Sure, he might be able to handle small issues well, but when something big like this happens, he just shuts off and ignore most of the stuff shared over the past 12 pages and continue boasting about his ratings instead of solving the issue. Lols. Not sure how that's gonna help.


We've been labelled as dishonest scammers by Shiro21 while we have the best rating, are the most transparent and actually have an ethical profit model. Yet here we sit next to actual scam concerns of brokers stealing money, not paying out, fake binary options strategies, money stuck at liquidated brokers, pretty girls on social networks stealing peoples life savings, manipulated trades.

Shiro21 had no issue with any of his thousands of trades while trading with us over almost a year of trading. He had every opportunity to come to us with an issue yet he did not, because there weren't any.

In fact i have, or this thread wouldn't be here. You are just trying to sweep everything under the carpet. Why are you reluctant to provide me with the pricing and spread data of other brokers for me to do a comparison? Because that would expose your lies?


Only after the fact when he was done trading did he start his crusade against us - doing exactly the same thing he did to us that he did with another broker only 1 month ago (see Shiro's first attempt here).

It's thanks to this broker that i found out about your misconduct, so don't try to distract others and shift their attention away from your own wrongdoings.


I will continue to defend our company from the slander posted here. I'm not going anywhere and I hope that people can take the time to read through my posts which debunk every myth Shiro21 conjures up.

Nothing raised in this thread concerns me apart form the falsehood presented by Shiro21 saying that we"trade against the client and profit from it."

The reason Global Prime can be so transparent is because we have nothing to hide. The same can't be said for almost every other broker out there b-booking you guys til the cows come home and we won't stop until that is exposed and every trader realises you've all had the wool pulled over your eyes.

If you really have nothing to hide, then send me the data from other LPs to compare against Vidarr. The fact is Globalprime makes more money by passing client's trade to Vidarr, and because of that, there is a conflict of interest that prevents globalprime from giving you the best prices.

And you guys would know none of it is "false accusations" if you have looked through the previous posts and see how they are connected to each other. Globalprime, Gleneagle Securities and Vidarr. Even though Vidarr is the counterparty to Globalprime's client, the same director from Vidarr is also a director of Globalprime, how are they not connected? I'll let you guys figure it out for yourself.


At least this guy is smart enough to ask the right questions:
These are some excellent questions and the evidence presented will finally put to rest the claim that Globalprime is not a ECN. Why are there so many middlemen involved at every step?

So now there is primeXM who is the aggregator for all client trades and connects clients to your liquidity providers. Isnt this what the skout software does? Why do you need another external software to mirror the role of the FIX engine?

Do you have the tick and spread data? Curious about that as well.

And Jemook wasn't able to properly answer any of those questions. If you look at his replies. He pretty much repeated 3/4 of his post and didn't address anything of importance with a real explanation.
 
Last edited:

dragon_1

Recruit
Messages
1
Just going to add that I'm thankful that this discussion has occurred as it has proven to be very educational, at the very least, regardless of the outcome.
 

Shiro21

Private, 1st Class
Messages
64
Someone on their discord just reported a GP owned counter party on their currency trade now too.
If the position size is big enough, they would do it. That's how they make the big bucks. And here they are, lying to their customers and claiming there is no conflict of interest.


Anyway, someone informed me of something interesting and i went to look into it. There is another broker named CapitalFX Pty Ltd and the website is almost a clone of the Globalprime's old website. Have a look at it yourself, the one in blue is Globalprime's, the one in red is the new CapitalFX's:

Globalprime website old.pngCapitalFX website 2.png


Uncanny resemblence, if you ask me. Lols.

Even the address is sus. They are literally neighbours in Australia, and shares the exact same location in Vanuatu.

Globalprime Map.pngCapitalFX Map.png


But there's more. If you look below at the "Customer Notice" highlighted in yellow, you can see that CapitalFX is again just one of Gleneagle Securities Pty Ltd many offshore "retail broker arm".

CapitalFX website.png


One more thing to note here is, the ABN 74 146 086 017 and AFSL 385620 listed above in the "Customer Notice" highlighted in yellow, both belongs to Globalprime, as can be seen here:

Globalprime ABN.png


So why is CapitalFX able to use Globalprime's ABN and AFSL without any repercussion? Unless approval has been given by Globalprime, or CapitalFX is just Globalprime's trade name.

There are many other things i found extremely suspicious as well, CapitalFX claim to have 4.7/5 stars based on 270+ reviews on FPA, but a search on FPA shows nothing of this broker. Clicking on the show reviews link is useless as it only leads you back to their homepage.

CapitalFX Fake reviews.png


And of course the 4.8/5 star Trust Score is fake too. Same as the one above, clicking on the link just redirects you to the CapitalFX.io website's homepage.

CapitalFX Fake reviews 2.png


And lastly, at the bottom it says, "© Copyright 2010-2020 CapitalFX Pty Ltd | Suite 604, 35 Grafton St Bondi Junction, 2022 Australia.":
CapitalFX Website age 2.png


But the website was only started in 2021, so how could the copyright be from 2010-2020?
CapitalFX Website age.png


Everything about this broker is just suspicious, and it is again linked to Gleneagle Securities? What more can I say.. Just be careful when dealing with anything related to Gleneagle Securities. Take your money and run as far as you can when you see that name.
 

Jahkem

Recruit
Messages
8
Ok, next is Angus Walker, the General Manager of GlobalPrime.

View attachment 65713

He was formally a senior executive at IC Markets, and had been there for more than 10 years. People who have traded with IC Markets in the past might have heard about him. And I assure you it's nothing good.

View attachment 65714

Just a search on FPA on his name, came up with a entire page of complaints. And so is the company he use to work in for almost 10 years, scamming people left and right of all their money. Just a search of that company and you can see pages upon pages of complaints.

View attachment 65715View attachment 65716

So now he has moved over to GlobalPrime and continuing his deeds under the cover of a supposedly "good broker", who on the surface promises you ECN execution, best spread and transparency, but behind you back siphoning your money into their own pockets through a company named Vidarr Capital. Doing a search on that company turns up almost no information about what that company really do.
Mr. Shiro21, I really appreciate the time and effort you have put into this detailed work. I would like to suggest that the FPA should hire you as permanent consultant. Let all of members of the FPA be paying monthly membership due to be used to pay the officials of the body including consultants. That way the FPA will be truly independent.
Presently it is only partially independent as long as it depends on patronage by the brokers__people that were supposed to be policed and prosecuted.

In the past I was not allowed to rate some brokers in the FPA forum. That made me to doubt I was in the authentic site of the FPA. So, as a result I even stopped visiting the Forum and reading their mails.

On another note, please, Shiro21, could you recommend one or two trustworthy ECN brokers for me ( even if the executive arm of the FPA is against the practice ) ?
I have never for once fallen into the hands of a good broker. All brokers I have traded with have been shown to be scams. I only would discover after they had finished me.

By Jahkem.

FPA Review Moderation Team Note: If you submitted any reviews that did not show up within 5 business days, please read this item...

https://www.forexpeacearmy.com/community/threads/hey-dude-wheres-my-review.42719/

If it does not explain why the review did not show up, there is a form you can fill out. One of us will get back to you.

FPA Forums Team Note: Recommending brokers in a Scam Alerts thread about a different broker is strictly prohibited for a very good reason. Doing this permanently ties the name of any recommended broker to complaints that have nothing to do with it. You can ask for broker recommendations here...

https://www.forexpeacearmy.com/community/forums/forex-company-comparisons.127/

Your theory about dues is interesting. We'd like to point out that most forex forums that used a dues based model instead of advertising are no longer in business. We attempted to ask for donations just to help cover the expenses of dealing with denial of service attacks and only managed to raise enough to cover a few days' worth of that expense.
 

builderall

Recruit
Messages
3
I'm a GP customer, it's interesting to read this thread. We have an investigator facing the founder of GP
Both of you have spent a lot of time on this topic
 

builderall

Recruit
Messages
3
If the position size is big enough, they would do it. That's how they make the big bucks. And here they are, lying to their customers and claiming there is no conflict of interest.


Anyway, someone informed me of something interesting and i went to look into it. There is another broker named CapitalFX Pty Ltd and the website is almost a clone of the Globalprime's old website. Have a look at it yourself, the one in blue is Globalprime's, the one in red is the new CapitalFX's:

View attachment 67703View attachment 67704


Uncanny resemblence, if you ask me. Lols.

Even the address is sus. They are literally neighbours in Australia, and shares the exact same location in Vanuatu.

View attachment 67714View attachment 67715


But there's more. If you look below at the "Customer Notice" highlighted in yellow, you can see that CapitalFX is again just one of Gleneagle Securities Pty Ltd many offshore "retail broker arm".

View attachment 67705


One more thing to note here is, the ABN 74 146 086 017 and AFSL 385620 listed above in the "Customer Notice" highlighted in yellow, both belongs to Globalprime, as can be seen here:

View attachment 67708


So why is CapitalFX able to use Globalprime's ABN and AFSL without any repercussion? Unless approval has been given by Globalprime, or CapitalFX is just Globalprime's trade name.

There are many other things i found extremely suspicious as well, CapitalFX claim to have 4.7/5 stars based on 270+ reviews on FPA, but a search on FPA shows nothing of this broker. Clicking on the show reviews link is useless as it only leads you back to their homepage.

View attachment 67710


And of course the 4.8/5 star Trust Score is fake too. Same as the one above, clicking on the link just redirects you to the CapitalFX.io website's homepage.

View attachment 67711


And lastly, at the bottom it says, "© Copyright 2010-2020 CapitalFX Pty Ltd | Suite 604, 35 Grafton St Bondi Junction, 2022 Australia.":
View attachment 67712


But the website was only started in 2021, so how could the copyright be from 2010-2020?
View attachment 67713


Everything about this broker is just suspicious, and it is again linked to Gleneagle Securities? What more can I say.. Just be careful when dealing with anything related to Gleneagle Securities. Take your money and run as far as you can when you see that name.
@jemook Do you have any explanation for it?
 

RahmanSL

Major
Messages
2,848
If the position size is big enough, they would do it. That's how they make the big bucks. And here they are, lying to their customers and claiming there is no conflict of interest.


Anyway, someone informed me of something interesting and i went to look into it. There is another broker named CapitalFX Pty Ltd and the website is almost a clone of the Globalprime's old website. Have a look at it yourself, the one in blue is Globalprime's, the one in red is the new CapitalFX's:

View attachment 67703View attachment 67704


Uncanny resemblence, if you ask me. Lols.

Even the address is sus. They are literally neighbours in Australia, and shares the exact same location in Vanuatu.

View attachment 67714View attachment 67715


But there's more. If you look below at the "Customer Notice" highlighted in yellow, you can see that CapitalFX is again just one of Gleneagle Securities Pty Ltd many offshore "retail broker arm".

View attachment 67705


One more thing to note here is, the ABN 74 146 086 017 and AFSL 385620 listed above in the "Customer Notice" highlighted in yellow, both belongs to Globalprime, as can be seen here:

View attachment 67708


So why is CapitalFX able to use Globalprime's ABN and AFSL without any repercussion? Unless approval has been given by Globalprime, or CapitalFX is just Globalprime's trade name.

There are many other things i found extremely suspicious as well, CapitalFX claim to have 4.7/5 stars based on 270+ reviews on FPA, but a search on FPA shows nothing of this broker. Clicking on the show reviews link is useless as it only leads you back to their homepage.

View attachment 67710


And of course the 4.8/5 star Trust Score is fake too. Same as the one above, clicking on the link just redirects you to the CapitalFX.io website's homepage.

View attachment 67711


And lastly, at the bottom it says, "© Copyright 2010-2020 CapitalFX Pty Ltd | Suite 604, 35 Grafton St Bondi Junction, 2022 Australia.":
View attachment 67712


But the website was only started in 2021, so how could the copyright be from 2010-2020?
View attachment 67713


Everything about this broker is just suspicious, and it is again linked to Gleneagle Securities? What more can I say.. Just be careful when dealing with anything related to Gleneagle Securities. Take your money and run as far as you can when you see that name.
@Shiro21, your investigative skill is remarkable and in-depth. And yes, CapitalFX and Globalprime do seem to be made from the same cloth which throws suspicion as to their motives in hiding their obvious connection.

I agree with @Jahkem that the FPA should offer to hire you as a consultant to help members pursue and to help solve problems with their brokers. All FPA members seeking the service of the FPA and hence your service should pay a percentage for all claims received.
Hopefully Globalprime
 
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