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GP alternative?
https://www.stevehopwoodforex.com/phpBB3/viewtopic.php?t=3444		 Page 1 of 2
Author:  jago25 [ Wed Feb 12, 2014 9:50 pm ]
Post subject:  GP alternative?
I really like GlobalPrime but the cross continent pair spreads are not as good as I would like:

~5.2 points for EURNZD for example,
6-7 points for GBPNZD, just jumped to 21 for some reason but that's ok.

In fact it's mostly the NZD pairs that aren't so good. It's the north/south hemisphere combos I like to trade most and this stops me trading on <1h timeframes. Is there an alternative?

edit, also to add:
Thanks for all your input :party: I do like GP and this would be only for manual trades so I'd be checking the spread and execution live like I did with FXCM and miniscule trades, so I can try a bit more risk. Maybe it's too ambitious to trade (for example) GBPJPY, NZDEUR at 15M though. I'm looking to satisfy my addiction to trade. The idea is to manually trade 0.01 lots and low leverage for practice and then if I see a decent opportunity I can trade on GP.
Also, don't judge trust by reputation only - go by how easy and therefore tempting it is to get away with it - this is why GP quote transparency. Google give major power to low level employees in groups of threes - one will abuse power, 2 maybe, 3 almost never.
Author:  SteveHopwood [ Thu Feb 13, 2014 12:05 am ]
Post subject:  Re: GP alternative?
In the teeth of the howling gale of approval of, and appreciation for, GP you want an alternative? Wow. That is nothing short of staggering.

Try each of the alternatives one by one. You will recongnise how daft you are being when you have been screwed pitilessly by every single one of them.

I would wish you good luck but there is no point. You have already had the good luck to be directed towards GP and yet seem determined to turn your back on them. No amount of luck will save you.

Your live deposits are doomed.

:xm:
Author:  Jemook [ Thu Feb 13, 2014 12:16 am ]
Post subject:  Re: GP alternative?
Settle down Steve-o LOL.. it's a fair request, GP isn't a one size fits all broker. jago25 - have you looked to see if IC Markets conditions are better for your needs? They'd be my next recommendation.

Cheers,
Jeremy
Author:  SpiderX [ Thu Feb 13, 2014 12:29 am ]
Post subject:  Re: GP alternative?
Just happened that I was looking at another broker : fxpig.
The reviews are fairly decent and claims that results on real account match those of demo are interesting to investigate.
Would be trying them out soon, to see if the above is true.

Cheers
Author:  SpiderX [ Thu Feb 13, 2014 12:49 am ]
Post subject:  Re: GP alternative?
There was a fairly short topic on TrueECN brokers, might be of interest to you:
http://www.stevehopwoodforex.com/phpBB3 ... t=True+ECN

Wonder if so-called "True ECN" brokers are more honest in their dealings...however, that topic has got me interested in FxPig. :)

Cheers
Author:  skoda2008 [ Thu Feb 13, 2014 2:13 am ]
Post subject:  Re: GP alternative?
I can vouch for IC Markets. I trade the bulk of my funds with them rather than GP for the reasons mentioned above. They have also been around a bit longer, so are a bit further down the track with a client portal/CC funding etc. They are a solid alternative, and you wont get any shenanigans. I'm not sure about their customer service, because in the year or so that I have used them, I've had no problems and no need to call them.

The whole limit orders not really being limit orders thing also has me wondering whether FX Pig or FX Open (which as I understand are essentially the same trading conditions) might be a better alternative. Kevin from FXPig certainly comes across on the forums as the "Jem" of New Zealand.
Author:  Jeuro [ Thu Feb 13, 2014 9:12 am ]
Post subject:  Re: GP alternative?
.
I agree with Jeremy that Jago25's is a valid need if he trades those 2 nzd pairs.
I assume different LPs may offer different spreads to Brokers... but it is not that simple.
Most LPs market make exotics pairs. So, is not a Broker thing. With any Broker you go, if you start making money, the LP would increase the spreads to the Broker affecting your trading.

Regarding the "True ECN Brokers" ... I am not sure if may be an agenda behind the thread.
The whole issue of how a Brokers via Empty4, handle limit orders is a bit off the wall. Definitions are also off the wall.

The real question is if it is possible for a Broker, via Empty4, to place a limit order into their pool of LPs??
As far as I know, it is not possible. Empty4+bridge technology by default , asaik, can handle only: 1 order with 1 LP. Thats it. So, if the Broker send out a limit order, is picked up by 1 LP and remains in that book ... it is not floating in whole Broker's liquidity pool. To be honest, I do not know if that is really better then the Broker holding the pending in the bridge to be hit by "any" of the multiple LP of their pool as the price pass by. I tend to think we get better pricing this way.


But If any body wants that, definitively needs to switch to a different platform. That simple.. no point in wasting time making up definitions what is true this or true that.

That also goes for Jago25... if you want better pricing and want to be able to place limits to be hit by any LP of the Broker pool .. switch to Dukascopy Jforex, LMAX non-Empty4, or any Broker that offer Currenex.

If you want Empty4... stay were you are.

FXpig??? Kevin Murko the"Jem" of NZD ...sorry guys.. I would not even shake hands with Kevin Murko, afraid that I would have only 4 finger after the shake. Long past history

J.

PS...ECN, STP, ECN.. bla, bla, bla, what is so hard to understand that = "Electronic Communication Network".
So, if my Broker is "connected" "electronically" to "one" LP my ECN is that 1 LP, period... no magical place for other prices. If my Broker is connected to 2 LP or 3 or 4 .. whatever that is my ECN. No magic in this market.
.. so, instead of talking about ECN as a world wide system... we should talk about the liquidity pool of our Broker... because our orders "do not" go to the whole wide world ECN .. there are contained and filled only between the liquidity pool of our Broker.
Author:  Jemook [ Thu Feb 13, 2014 8:51 pm ]
Post subject:  Re: GP alternative?
Khalaad » Fri Feb 14, 2014 6:20 am wrote:By the way:

• 5.2 pips is not the typical Global Prime spread for EURNZD; nor
• is 6.0 to 7.0 pips the typical spread for GBPNZD.

Enable Global Prime Empty4 DDE and let the attached run.

Khalid
Myfxbook quotes table shows our eurnzd average is 2.04 pips, gbpnzd average is 4.5

Cheers
Jeremy
Author:  fok [ Fri Feb 14, 2014 1:44 am ]
Post subject:  Re: GP alternative?
Khalaad » Thu Feb 13, 2014 7:20 pm wrote:By the way:

• 5.2 pips is not the typical Global Prime spread for EURNZD; nor
• is 6.0 to 7.0 pips the typical spread for GBPNZD.

Enable Global Prime Empty4 DDE and let the attached run.

Khalid
Thanks for your tool, Khalid. :hi:
Author:  Jemook [ Fri Feb 14, 2014 2:29 am ]
Post subject:  Re: GP alternative?
In regards to spreads they come down when the volume is there, not really vice versa.

I remember we had a client last year scalping huge lots on GBPAUD and one of our LPs that really liked the flow dropped their spreads to capture more of the tickets. We were seeing .2 lows and .5 average on GBPAUD during that time and I don't think I've ever seen it that low on any other broker before. He's gone now and our spreads are at 1.5 average for GBPAUD but it shows what happens if the LPs are fighting for flow.

So as we grow and more volume is put on the exotic pairs I expect the spreads to come down.

Cheers,
Jem
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