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

Shiro21

Private, 1st Class
Messages
63
Alright, back with more evidence to expose more of this scam company. Look at the number of scam warning alert this company is getting. Most important one is the last point on the Risk Alerts. "Current data shows that this broker is using non MT4/5 Software"

GlobalPrime Warning.png


Let me remind you guys that they have been caught in the past before.

Order processing misconduct.png

What do you think is this "Automated Order Processing system" that they got caught messing with and slapped with a fine of $90,000?

Combined with the above warning that they are using external software on their broker platform. I think you guys should be very very careful if you choose to ignore my advice and deal with this scam broker.


Globalprime Review 2.png


Another verified review exposing the questionable conduct of this broker. Who else still needs more proofs? I can still go dig for more. So motivated right now, thanks to the fake account of globalprime's representative Trader09. Creating fake accounts to come here and confuse other users by derailing the thread. Same behaviour like Gleneagle, creating many offshore scam brokers to confuse people and conceal their traces.
 

Shiro21

Private, 1st Class
Messages
63
invite-opc.png
The OP has invited the company to this discussion on Jun 14, 2021 at 3:43 PM
 

mickaelsolomon

Recruit
Messages
9
invite-opc.png
The OP has invited the company to this discussion on Jun 14, 2021 at 3:43 PM
ah now we're talking. let's see what GP has to say

otherwise you're still refusing to show your track record though you have shown it with Blueberry. why? okay I hear you on the other evidence you post though I think you should spend your time getting better at trading and answering simple and direct questions instead, but whatever. what is a track record to you? just hide your name and it's okay

FPA Forums Team Note: Global Prime had a message in the moderation queue before Shiro21 sent his invitation. If you go back one page, you can read it.
 

The Punisher

Sergeant Major
Messages
660
Within 3 days from now, if he still can't provide evidence to prove the material damage that GP had caused to his trading!
I think this thread should be closed and renamed or deleted, so new members would not be misled.

FPA should not be abused this way!
@Trader09 your only posts on FPA are in this thread and all posts are directed towards Shiro21 after they started posting some suspicious circumstances about this broker. The one exception is a single post you made in another thread about a different broker . We should try to assist Shiro21 instead of accusing him of doing something wrong.
 

Trader09

Private, 1st Class
Messages
31
@Trader09 your only posts on FPA are in this thread and all posts are directed towards Shiro21 after they started posting some suspicious circumstances about this broker. The one exception is a single post you made in another thread about a different broker. We should try to assist Shiro21 instead of accusing him of doing something wrong.
Yes. I know the other broker has many threads in this Scam Alert Section.

But I just feel like Shiro is taking advantage of that and the power of FPA to play a trick.

With this trick, he can play all in with a certain broker and then if lost, he can post a thread here to pressure them to get all his money back.

That's not really ethical, I think.

If he can publish his own trading history and prove the issues, thing would be different.
But he keep avoiding that while in the thread with BBM, he proved the delayed execution without no problems.
So, ones would suspect there's no issues with the order execution of Global Prime.
He's just playing his trick on them.
 

The Punisher

Sergeant Major
Messages
660
Yes. I know the other broker has many threads in this Scam Alert Section.

But I just feel like Shiro is taking advantage of that and the power of FPA to play a trick.

With this trick, he can play all in with a certain broker and then if lost, he can post a thread here to pressure them to get all his money back.

That's not really ethical, I think.

If he can publish his own trading history and prove the issues, thing would be different.
But he keep avoiding that while in the thread with BBM, he proved the delayed execution without no problems.
So, ones would suspect there's no issues with the order execution of Global Prime.
He's just playing his trick on them.
The shady past of Global Prime definitely does not play in their favor especially given some of the behavior of their Directors. @Shiro21 do you have a couple examples to post as further proof/evidence for your claim?
 

Shiro21

Private, 1st Class
Messages
63
I just feel like Shiro is taking advantage of that and the power of FPA to play a trick.

With this trick, he can play all in with a certain broker and then if lost, he can post a thread here to pressure them to get all his money back.

That's not really ethical, I think.

If he can publish his own trading history and prove the issues, thing would be different.
But he keep avoiding that while in the thread with BBM, he proved the delayed execution without no problems.
So, ones would suspect there's no issues with the order execution of Global Prime.
He's just playing his trick on them.
Going by your illogical argument, I could go all-in with a certain broker and not get anything back. Use your brain and do some logical analysis why don't you? Why would I throw in 50k to pull a "trick" like this, when I stand to gain nothing from all of this except for the suffering of having a scam broker take my money and not being able to get it back? The chances of getting my money back is so slim, that no sane or logical person would consider doing this with their money, except for you. If you think this imaginary "trick" of yours it's so viable, why don't you go test out this so-called "trick" yourself. You are such a waste of time, making me explain something so simple with so many words.

I post relevant evidence that is related to my claims. My claim is about Globalprime falsely advertising themselves as an ECN broker to intentionally mislead potential customers into signing up with them after reading those false advertisements. Are Globalprime's false advertisements in my trade statement? Is Globalprime's past shady behavior of running multiple scam brokers to scam their clients in my trade statement? Are you a forensic investigator who is able to uncover traces of slippage or broker-side trade/order manipulation from my past statements?

I'm trying to stop people like you who have ulterior motives from derailing the thread and spinning it into something completely unrelated to my complaint with irrelevant arguments. Like I said, you are free to dispute any of the evidence presented here.
 

Shiro21

Private, 1st Class
Messages
63
@shilo21

You traded over 8 months. Thousands of trades.

Every single Livechat interaction rated positively. Not a single complaint on your executions or our service during your entire time with us.

Finally after you finish trading you hit us up for a rebate of all of your trading losses (not just CFDs) to settle over a bunch of conjecture or you will go public. We said go for it because we have nothing to hide.
You yourself said there were thousands of trade, I did not think I would have to go through the trade receipts of every single one of them as I had trusted globalprime back then. The non-ECN trades were mixed in with the ECN ones. There is no way to realize what you guys were doing behind my back at the very start when the amount of trade is little and there is no pattern to be inferred from it. Sample checking it did not raise any alarms back then.

Only over a large trade sample and analysing it careful is one able to see the pattern of how each and every one of a certain instruments is being executed by a single counterparty, despite the huge number of Liquidity providers that globalprime seems to work with.

We offered to rebate you for any of your executions that were not in line with the market or any adverse fills yet you can't show anywhere how your trading was impacted by our liquidity offering.

1. Regardless, Vidarr as an LP is disclosed here: https://www.globalprime.com/best-execution/

2. We show how Commodity CFDs are not ECN here: https://www.globalprime.com/how-we-make-money/

"Unlike Forex and Metals which are traded via a ‘prime broker’, Indices and Commodity CFDs have no central counterparty through which trades are given up and cleared. Because of this, all trades generally go to a single liquidity provider on a per product basis. This means these products are not ECN."

3. We show how we make money from these products on the same page:

"Global Prime uses ‘non-bank market makers’ and other brokers to price and execute Index and Commodity CFD trades. Global Prime earns a percentage of the spread after hedging costs from these trading counterparties. These counterparties do not run a B-book for Global Prime."

What exactly was missing in our disclosures? I don't see many other brokers going to the same lengths we have.
The disclosure is hidden at a subpage, where people who are signing up would not see. I'm sure there's a reason such disclosure was not placed at either the homepage or sign-up page, nor was it disclosed to the customers through email or anywhere else. It there any reason to call yourself an ECN broker on one page, and then proceed to hide a contradictory statement in another page?


You could have done all your investigation before or during your 8 months of trading with us. You could have checked your trade receipts right from the very first trades and done your investigation - but it was all after the fact.
As has been mentioned you attempted the same approach with another broker here: https://www.forexpeacearmy.com/comm...o-lost-money-with-them-pls-gather-here.69743/
The investigation was done as a result of another incident that brought my attention to you guys. I'm not going to repeat such a long story all over again, so I'm just going to quote myself here:
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?


If you have an issue with anything we've done to effect your trading execution or results then post it here.
I do. You omitted important information that is crucial for clients who are signing up to an ECN broker would make investment decisions based off of.

I'm glad to see some active Global Prime clients jump in and show how they love our offering even though you seem to think that we are behind those posts. FPA are kings at busting brokers for exactly that - not the crew you want to mess around with!

This thread is going to keep running around in circles with your baseless accusations and insinuations. If anything it's helping to give more attention to the #1 rated forex broker with over 300 reviews on FPA over almost 10 years of business.

I put my face to everything Global Prime does. We've unpacked what happens behind brokers B-books over a 10 part YouTube series. We show trade receipts on every trade so our clients can hold us accountable if the execution is not up to par. We fight for retail traders and hang out with our thousands of clients in our Discord 24/7.

I would never allow anything untoward in our business which could damage our brand.

If anyone has any questions or wants clarification on any of the above please call me directly on +61 (2) 8379 3622 during Australian business hours. I always appreciate a chat with fellow traders.

If anyone wants to speak to the Vidarr team directly hit me up for an introduction. They are the most knowledgeable in the space, have the best liquidity offering from countless LPs that we've tried and a great bunch of guys that love to talk liquidity.

Unless the FPA team or the community here would like us to post anything else that the above does not address I'm not sure what else I can add here.

Click here to read my first response which has more details..

Regards,
Jeremy
Your company's lack of honesty and transparency, coupled with the way you handled the case by refusing to acknowledge the already well-known fact that you guys are not an ECN broker, and is still trying to get away with making that false statement is the most untoward and damaging thing you could have done to your company.

Let me assure you that non of the accusations here are baseless, as anyone can see that it is heavily backed by evidence. Vidarr have the best liquidity? You are just shooting yourself in the foot when you are just saying it without backing it up with real data. Allow me to show you once again how Vidarr compare to other Liquidity providers in terms of pricing, data provided by representative of your company.
Explanation.png

And I'm sure you will be able to show data contrary to that too, as Vidarr is afterall owned by someone who is also a part of Globalprime.

Mark Geroge Davison.png
Meaning you guys have will have no trouble adjusting the prices. That's what a market maker is capable of doing.
 

Shiro21

Private, 1st Class
Messages
63
@shilo21

Finally after you finish trading you hit us up for a rebate of all of your trading losses (not just CFDs) to settle over a bunch of conjecture or you will go public. We said go for it because we have nothing to hide.
Untrue as well. I was making profits on other products, but had requested the profit be cancelled out altogether and only ask for a refund of my money, as I believe it is unfair for me to gain from this.

The refund is a fair request as the products offered is not as advertised. Your company advertise itself as a ECN broker. After getting found out by your customer that not all your products are ECN, and that you had used the term "ECN" misleadingly without making proper disclosure to the clients trading in your products, you are still trying to make away with a customers money. That's what I call a scam.

We offered to rebate you for any of your executions that were not in line with the market or any adverse fills yet you can't show anywhere how your trading was impacted by our liquidity offering.


Regards,
Jeremy
The execution that were not in line with market is all the non-ECN products that you are making a market for. It is not in line because a client who sign up for a ECN broker wants to trade in ECN products, and you purposely mix in market-maker products without telling the clients, and expects them to find important information that is scattered all over your website by themselves, like a treasure hunt.
 
Last edited:
Top