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

Shiro21

Private
Messages
59
Getting back to something earlier in the thread. Many ASIC regulated brokers did drop their claims to being ECN, quite probably out of worry of being penalized by ASIC for deceptive advertising. If you truly feel Global Prime's claims of being ECN are false, why not take that and all of your other complaints and information to ASIC? An ASIC ruling on whether or not Global Prime really is or is not ECN would be something of great interest to traders, as would rulings on everything else you brought forward.
Yep, that's right. I have filed a complain with AFCA already, and an AFCA representative have called me to inform me that if a company falsely advertise themselves to be an ECN broker when they are not, they will look into it. And they will also see if there is a need to inform ASIC of such misconduct. The AFCA representative also informed me that I could complain about the company to ASIC directly for enforcement actions.

But I'm more focused on the abitration process and getting my funds back for now.

I'll have to wait for the assessment and furnish them with more evidence if needed, which I could just retrieve from here, seeing as how there is so much useful information gathered here already. Once the case lodged with AFCA has concluded, I'll see what further actions I can take.
 

4evermaat

2nd Lieutenant
Messages
2,133
In the interest of transparency, can you post your full mt4 track record for the GP account(s) in question here. You can delete/mask your name if you wish, but leave the rest of the record in tact.

Here is an article/video which shows exactly how to do this, and upload it to fpa forum: https://www.forexpeacearmy.com/comm...ccount-trade-history-statements-part-1.63543/

Sort in chronological order (or ticket # order), oldest to newest before generating the statement. Easiest to read that way.

-------

Yep, that's right. I have filed a complain with AFCA already, and an AFCA representative have called me to inform me that if a company falsely advertise themselves to be an ECN broker when they are not, they will look into it. And they will also see if there is a need to inform ASIC of such misconduct. The AFCA representative also informed me that I could complain about the company to ASIC directly for enforcement actions.

If you kept a copy of the AFCA complaint, may you attach it here also please? Of all the evidences presented, it is good to see what exactly made it into the formal complaint.

If any file is too large for the forum, you can use cloud service like dropbox, google drive, etc and paste the share-able link.

---

edit: what country are you resident of?? (at the time you signed up with GP)
 
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RahmanSL

Major
Messages
2,822
"But I'm more focused on the abitration process and getting my funds back for now."

So your main focus is really to get back your lost money and not so much as persuing the false advertisements to ASIC and getting them to take action. Same as your other case with another broker when, as soon as they have settled with your claims, that case is dropped...hmmmmm!
 

Trader09

Private
Messages
22
"But I'm more focused on the abitration process and getting my funds back for now."

So your main focus is really to get back your lost money and not so much as persuing the false advertisements to ASIC and getting them to take action. Same as your case with another broker when, as soon as they have settled with your claims, that case is dropped...hmmmmm!

Ah I see so this is some kind of blackmail.
His trick already worked with the other broker.

In that case, with his skills, I think he already knew all along that the other broker is not a true ECN.
But he kept trading with them. If he won, he would have probably kept his mouth shut.

He set them up!

What a good trick!
 

Shiro21

Private
Messages
59
"But I'm more focused on the abitration process and getting my funds back for now."

So your main focus is really to get back your lost money and not so much as persuing the false advertisements to ASIC and getting them to take action. Same as your case with another broker when, as soon as they have settled with your claims, that case is dropped...hmmmmm!

You mean after losing my money to a scam broker, my main priority should not be recovering my funds? Would that not be counter-intuitive and also hypocritical if I were to claim that? I AM pursuing the false advertisement as that is the basis of my complaint. You are a genuine user with a genuine question, so I have absolutely no problem making the effort to explain to you the backstory of my encounter with the other broker, and the subsequent lead up to globalprime's case. It's going to be a long story so be prepared to read it, because you asked.

I opened an account with globalprime a long time ago, but had only recently decided to start trading with them. After having trade with globalprime for a short while, i opened an account with the other broker so i can deposit funds for a different strategy, which will allow me to look after both the account at the same time as I can have both the terminals running if they are from different brokers.

After a few months of trading with the other broker, i encountered an issue with them, which some of you who have seen that thread know the story of. You said, "as soon as they settled with me, i had my case dropped." They had indeed reach out to me to settle the case with me, and i accepted. There is no reason for me not to. They were genuine in admitting their mistakes, and even had their website amended to remove the incorrect information. What more do you want me to do to them? And it is through that fateful encounter with them that brought to my attention the term "acting as principal to my trades". They had informed me that most australian broker are not true ECN brokers, and is just acting as principal to my trades, which is just another term for being a market-maker. They told me to look for that specific term in the PDS and see for myself if I do not believe them.

And trust me when I say I was truly disappointed when I find that exact same term in the globalprime's PDS. How can they advertise themselve as an ECN, and tell me that I am opening an ECN account with them, when only some of their products are ECN, and so many of their other products are actually not ECN? All without properly disclosing such important information to me when I was signing up too? I was furious and confronted them, and they not only refused to admit to their wrongdoing, but is also not going to make any improvements like how the other broker amended information to make things right. This entire turning a blind eye to the situation by globalprime is what lead up to me exposing them here.

Let me just ask you this question: Is it not fair to say that if i'm looking for an ECN broker to open an ECN account with, I obviously wants to trade in ECN products only? If you buy a box of apples, and you open up the box to find that half of them is orange, what would you do? Are you also going to be like what everyone here is telling me to do? To just "take the loss and move on"? Or do I have the rights to return that box of wrongly-packed goods and get my money back?
 

Shiro21

Private
Messages
59
Ah I see so this is some kind of blackmail.
His trick already worked with another broker.

In that case, with his skills, I think he already knew all along that the other broker is not a true ECN.
But he kept trading with them. If he won, he would have probably kept his mouth shut.

He set them up!

What a good trick!
Amusing how you would jump at any opportunity to take a hit at me. How is it considered blackmail, when I do not gain anything from it? What I'm getting back is entirely my own money. It is quite obvious what your motive is. A newly created account with only 1 review, and it's a 5star review for globalprime. Almost no posts in other threads, coming specifically here just to make baseless allegations against me, like blackmailling and knowing my account R:R to which you have no access to. I certainly won't be wasting anymore time with you. I know what you're up to.


In the interest of transparency, can you post your full mt4 track record for the GP account(s) in question here. You can delete/mask your name if you wish, but leave the rest of the record in tact.

Here is an article/video which shows exactly how to do this, and upload it to fpa forum: https://www.forexpeacearmy.com/comm...ccount-trade-history-statements-part-1.63543/

Sort in chronological order (or ticket # order), oldest to newest before generating the statement. Easiest to read that way.

-------



If you kept a copy of the AFCA complaint, may you attach it here also please? Of all the evidences presented, it is good to see what exactly made it into the formal complaint.

If any file is too large for the forum, you can use cloud service like dropbox, google drive, etc and paste the share-able link.

---

edit: what country are you resident of?? (at the time you signed up with GP)
The basis of my complaint is false and misleading advertising, which is illegal in australia under Section 12DA of the ASIC Act and Section 1041H of the Corporation Acts 2001.

I'm not sure how showing my account statement here is going to help prove any of that, as all the misleading advertisement can either be found on their website or on my earlier posts. If it's to verify the number of trades to see if the calculations made in one of my previous post was indeed correct, i have no problem masking all details showing only the instrument traded and the order/ticket number for you to tally the numbers. Drop me a PM and i will send it to you. I won't be putting it up here as you can see how some people with ulterior motive will use anything as a reason to start something with me.

As for the complaint lodge with AFCA, the case has only recently been picked up by the case manager and we've had about 3-4 email exchanges, with the remaining information conveyed through a call. Evidence is largely the same as what have been posted in the last 5 pages in this thread, minus all the drama.

The details and result of the complaint will be shared here once the outcome have been decided by AFCA, so people can get the full picture instead of making speculations.
 

Trader09

Private
Messages
22
OK perhaps I'm quite impressed with GP's trading conditions after almost 1 year, so I've got little biased.

I know false advertising is bad, but you're not that innocent.

Look at your case with the other broker.

With your awesome research skills, you definitely had done a background check before opening an account with them and already found out they're false advertising.

So you set them up by jumping on the live chat to ask questions that you know they're gonna lie.

You took pictures of all those chats to use as evidence to blackmail them in case you lost due to your poor trading skills.

If you had profited from your trading with the other broker, you definitely would not have posted a thread against them here.
Unfortunately you lost due to your poor trading skills.
Although the other broker did have a small delayed execution of almost haft or 1 second, but that wouldn't have been a problem because you stated that your R:R is good.

So you lost not much because of the trading conditions, but because of your poor trading skills.

You lost money and you right away played the dirty trick to get back your money.

You're taking advantage of FPA forum to play your dirty trick on brokers.

You set them up!
In a way, you're the scammer here.

What a good scam artist!

I realize false advertising is bad, but the trick this dude's playing here in not ethical.

Guess we're gonna meet again in your new thread with your new victim!
Good luck with the blackmailing!
 

Shiro21

Private
Messages
59
With your awesome research skills, you definitely had done a background check before opening an account with them and already found out they're false advertising.
The skills awakened after I found out I got cheated and wanted justice served. ;)

So you set them up by jumping on the live chat to ask questions that you know they're gonna lie.
I know they're gonna lie? How? Did i force them to lie? Again with the baseless allegations. Is that all you're good at?

If you had profited from your trading with the other broker, you definitely would not have posted a thread against them here.
Unfortunately you lost due to your poor trading skills.
Although the other broker did have a small delayed execution of almost haft or 1 second, but that wouldn't have been a problem because you stated that your R:R is good.

So you lost not much because of the trading conditions, but because of your poor trading skills.
You certainly do not know how scam brokers operate. No amount of good trading can save you if you're working with a scam broker.
 

Trader09

Private
Messages
22
The skills awakened after I found out I got cheated and wanted justice served. ;)


I know they're gonna lie? How? Did i force them to lie? Again with the baseless allegations. Is that all you're good at?


You certainly do not know how scam brokers operate. No amount of good trading can save you if you're working with a scam broker.

Haha. You're acting like you're a victim while in fact you are a truly scammer.
I must say I'm quite impressed. :D

And don't you worry about me lol, I have withdrawn all of my capital, I'm trading using profit now.
If any problems occur, I would definitely post a blackmailing thread like yours lol. :D
 

Shiro21

Private
Messages
59
Ok, now back to exposing GlobalPrime and their parent company Gleneagle Securities.

Some of you might be wondering, is the review of these companies really that good? And if it was actually as bad as I had claimed, why does the good reviews so far outweights the bad ones?

One possibility has already been covered on my previous post on "the small cheats". One other very plausible conclusion I can think of, is how the victims are being selected.

If we look back at one of the evidence i have dug up previously on Gleneagle Securities, who is the one behind Globalprime, RubixFX and FXTrading, what we can see is this:

Rubix FX.png



We could only see a few of the reviews from this screen, I went to take a more in-depth look at all the other reviews, and I seem to find a recurring pattern here.


RubixFX reviews 3.pngRubixFX review 2.pngRubixFX reviews.png


Look at the amount of money involved in most of these cases. It's in the 5-6 figures. If I am to draw any inference from all these, it is the pattern that they are carefully targeting people with larger accounts, and treat people with smaller accounts normally. One reason is because targeting the smaller accounts would means they need to have many victims to make a significant gain, while exposing them to greater risk of getting caught if many complains were to be made. Targeting big accounts would mean less risk for greater gains.

Another reason for having fewer victims while being able to still make significant gains, is that there would be conflicting views when a scam alert is raised on the company, and the many people with smaller accounts who did not get scammed would come forward and defend the company because they did not encounter any issues with the company, making the true victims a minority and thus the impression of less credibility.

Either way, I implore each of you to do your own research before jumping in and falling victim to their scam like me. Trader09 may have been lucky to get away with his funds intact this time, but I wouldn't count on luck to get me out every single time.
 
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