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:
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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.
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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".
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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:
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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.
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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.
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And lastly, at the bottom it says, "© Copyright 2010-2020 CapitalFX Pty Ltd | Suite 604, 35 Grafton St Bondi Junction, 2022 Australia.":
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But the website was only started in 2021, so how could the copyright be from 2010-2020?
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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.