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Prime of Prime Broker

  • #601
  • Jun 29, 2017 2:37am Jun 29, 2017 2:37am
Has anyone heard about Fixi opening a new division for retail traders?

Currently they only accept institutional clients but I've heard they will open up soon for retail clients as well.


Regards,
1GoodTrade
---------------------
Follow me on twitter: https://twitter.com/Daytrader213
  • #602
  • Jun 29, 2017 3:23pm Jun 29, 2017 3:23pm
Quoting Dkam
Anyone experience with Global Prime? https://www.globalprime.com.au/about...rime-of-prime/
I have not used but visited. Australian broker with regulated. Maybe not bad. I will describe more about after making sure reviews in FPA
  • #603
  • Aug 18, 2017 9:11pm Aug 18, 2017 9:11pm
Just curious, can we connect multiple (prime) brokers using FIX API to distribute high volume (and reduce risks such as slippage)? It may sounds better solution than MT4 local copier. Do you have any idea or experience?
Thanks
Simplicity is the ultimate sophistication - Leonardo da Vinci
  • #604
  • Oct 15, 2017 2:16pm Oct 15, 2017 2:16pm
Quoting heispark
Just curious, can we connect multiple (prime) brokers using FIX API to distribute high volume (and reduce risks such as slippage)? It may sounds better solution than MT4 local copier. Do you have any idea or experience? Thanks
Sure you can, there are softwares that let you plug your existing relationships (your prime brokers's liquidity) and aggregate the feed and depth. I think any solution is better than trading from MT4
  • #606
  • Oct 27, 2017 12:17am Oct 27, 2017 12:17am
I think to determine real prime of prime its if they can provide you with institutional kind of platforms or if its mt4 some kind of a bridge
of course in mt4 you cannot view depth of market, but on others like currenex you can
  • #607
  • Oct 29, 2017 11:26am Oct 29, 2017 11:26am
It's a bit off-topic but here in Germany you can deal directly with all major global banks.
They offer through exchanges or via OTC direct access to (leveraged) derivatives for any market (commodities,forex,equities,indices,bonds,metals etc.).

Here is an example from Friday:

someone bought through the Stuttgart Exchange a DAX Knock-out Put:
[COMMERZBANK AG TUBEAR 17.01.18 DAX 14200 WKN CE10H1 | ISIN DE000CE10H11]:


10:45:24am Price: 10,12 EUR amount: 100.000 ---- 1,01 Mio. EUR

He sold it later with a loss (i think it was the same guy):

10:45:45am Price: 10,09 EUR amount: 50.000 ---- 504.500 EUR
10:48:27am Price: 10,06 EUR amount: 50.000 ---- 503.000 EUR


He basically lost 4500 EUR to Commerzbank.

When the bank gives you a price, mostly you have 5 seconds to accept or to decline.
During fast markets, they often give sh*t prices or sometimes pull the plug (no trading available).
There is also a rule for mispricing (for accidently made mistakes on their side).

Another nagative point is, there is no 24h trading.
It starts at 8:00am and ends at 22:00pm (German time).

Dealing huge positions isn't a problem during normal market conditions.
  • #608
  • Nov 25, 2017 2:08am Nov 25, 2017 2:08am
anyone actually trading over 100K account with Baxter? What's your overall impression?
  • #609
  • Dec 17, 2017 2:01pm Dec 17, 2017 2:01pm
In this field are there reliable chart trading Guis. Basically trading from charts with limit orders
  • #610
  • Feb 26, 2018 1:54pm Feb 26, 2018 1:54pm
Quoting FlashCall
{quote} Probably ABN-AMRO is a good choice these days as a (prime of) prime-broker; 1.5M collateral and I believe they dont require any AUM. FXCM also started up PoP; not sure if they will continue to build it out after the CHF debacle. Maybe Saxo Prime isn't a bad option either. And if you want to use 10M clip without slippage, just use Currenex Big; its OAN (min size is 2m)
please does this means 2m million per pip?
THE TRUTH IS SIMPLE,ACCEPTING THE SIMPLICITY OF THE TRUTH IS WHAT IS HARD
  • #611
  • Feb 26, 2018 2:14pm Feb 26, 2018 2:14pm
which broker can i place 500 - 2000 dollars per pip without having issues?
THE TRUTH IS SIMPLE,ACCEPTING THE SIMPLICITY OF THE TRUTH IS WHAT IS HARD
  • #612
  • Apr 24, 2019 3:34pm Apr 24, 2019 3:34pm
Attached Image
https://www.leaprate.com/forex/liqui...ime-of-primes/
TSLA: 30-Dec-22 123.18 // 16-Jun-23 260.54 **111.51%**
  • #613
  • Apr 20, 2021 8:55am Apr 20, 2021 8:55am
Quoting Phylo
{image} https://www.leaprate.com/forex/liqui...ime-of-primes/
interesting
  • #614
  • Apr 20, 2021 9:51pm Apr 20, 2021 9:51pm
Quoting Phylo
{image} https://www.leaprate.com/forex/liqui...ime-of-primes/
Global Prime (thru parent company Gleneagle Securities) are a true Prime of Prime.

Thought it would be interesting to share the answers to the questions contained in the quiz on that site which help evaluate if you are dealing with a true Prime of Prime.

1. Can a true Prime of Prime provide negative balance protections? No
2. Can a true Prime of Prime provide kick backs for trading losses? No
3. What is the largest leverage a Prime of Prime can offer safely? It all depends on their balance sheet, type of flow/clients and the way they manage risk.
4. Does your Prime of Prime issue post trade counter party names in their real time online back office? Yes, even for retail clients through automated trade receipts
5. Is the ownership structure of the Prime of Prime a recognizable name with capital behind it? Yes
6. Does your Prime of Prime have a recognizable top tier Prime Broker? Yes, BNP Paribas and Standard Chartered (+1 on the way)
7. Does your Prime of Prime offer triparty credit accounts under the client name for trading? Yes

Cheers,
Jeremy
  • #615
  • Apr 21, 2021 3:27am Apr 21, 2021 3:27am
Quoting Jemook
{quote} Global Prime (thru parent company Gleneagle Securities) are a true Prime of Prime. Thought it would be interesting to share the answers to the questions contained in the quiz on that site which help evaluate if you are dealing with a true Prime of Prime. 1. Can a true Prime of Prime provide negative balance protections? No 2. Can a true Prime of Prime provide kick backs for trading losses? No 3. What is the largest leverage a Prime of Prime can offer safely? It all depends on their balance sheet, type of flow/clients and the way they manage...
Hey Jem,

I know that full disclosure is your mantra and I appreciate it.

That said, care to shed light on your company's structure? (Global Prime / Fusion Markets / Fxtrading.com / RubixFx / Gleneagles)
Are the 4 companies, Global Prime / Fusion Markets / Fxtrading.com / RubixFX just different brands under the Gleneagles Umbrella?

From what i recalled years back, Global Prime used to be independent, operating under its own AFSL and managing its own price feed and execution.

Since when did Gleneagles start to come into play?
Is Global Prime still independent? or was it acquired by Gleneagles thru a M&A deal and is now merely just a "brand"
  • #616
  • Apr 21, 2021 8:36am Apr 21, 2021 8:36am
Quoting Bicarus
{quote} Hey Jem, I know that full disclosure is your mantra and I appreciate it. That said, care to shed light on your company's structure? (Global Prime / Fusion Markets / Fxtrading.com / RubixFx / Gleneagles) Are the 4 companies, Global Prime / Fusion Markets / Fxtrading.com / RubixFX just different brands under the Gleneagles Umbrella? From what i recalled years back, Global Prime used to be independent, operating under its own AFSL and managing its own price feed and execution. Since when did Gleneagles start to come into play? Is Global Prime...
Of course.

Global Prime was created as the retail arm of Gleneagle, as such it has it's own AFSL and Seychelles license.

Gleneagle is the parent company with the liquidity + prime broking relationships.

Almost 10 years ago our Global Prime team took over management of the entirety of the liquidity and PB relationships for Gleneagle so we have always been in full control of the pricing, execution etc for Global Prime.

FX Trading and Fusion Markets are trading names of Gleneagle and fall under the Gleneagle license. Global Prime operates independently to any of the brokers under the Gleneagle group and we have no say or oversight into how run their businesses - any questions related to them should be asked of them.

When we started at GP we came in for retail but a fascination with PBs and structuring FX liquidity means we ended up growing the Global Prime brand to include a large institutional component. As such there's quite a bit of crossover however Global Prime is becoming more independent.

We do a lot of the following work inside GP now however Gleneagle has always assisted Global Prime with: Technology, Accounting and Audit, Payment processing, Client onboarding and support, Compliance and complaint resolution, Treasury management of bank accounts and ensuring compliance and integrity of the client monies trust deposits in a Tier 1 Banks.

Hope that helps!
  • #617
  • May 15, 2021 4:47am May 15, 2021 4:47am
Quoting Jemook
{quote} Global Prime (thru parent company Gleneagle Securities) are a true Prime of Prime. Thought it would be interesting to share the answers to the questions contained in the quiz on that site which help evaluate if you are dealing with a true Prime of Prime. 1. Can a true Prime of Prime provide negative balance protections? No 2. Can a true Prime of Prime provide kick backs for trading losses? No 3. What is the largest leverage a Prime of Prime can offer safely? It all depends on their balance sheet, type of flow/clients and the way they manage...
"1. Can a true Prime of Prime provide negative balance protections? No"
Jeremy,
Can you please explain this answer for Australian clients whom you must protect their negative balance according ASIC?
  • #618
  • May 19, 2021 8:23am May 19, 2021 8:23am
Quoting Jemook
{quote} Global Prime (thru parent company Gleneagle Securities) are a true Prime of Prime. Thought it would be interesting to share the answers to the questions contained in the quiz on that site which help evaluate if you are dealing with a true Prime of Prime. 1. Can a true Prime of Prime provide negative balance protections? No 2. Can a true Prime of Prime provide kick backs for trading losses? No 3. What is the largest leverage a Prime of Prime can offer safely? It all depends on their balance sheet, type of flow/clients and the way they manage...
Please give us an answer to the Q above.
  • #619
  • May 19, 2021 11:31pm May 19, 2021 11:31pm
Quoting smilee89
{quote} "1. Can a true Prime of Prime provide negative balance protections? No" Jeremy, Can you please explain this answer for Australian clients whom you must protect their negative balance according ASIC?
Prime of Prime's don't usually provide liquidity access to retail clients and would almost never offer negative balance protection to their institutional / brokerage clients as they must pay any negative balances to their counterparties.

If a regulator sets rules that a broker needs to provide negative balance protection for their retail clients then it must do so.

Negative balance protection is easy for a B-book broker to offer as a negative balance is not a real loss to them as the trades didn’t go out to market. This is why it's easy for them to offer 500x leverage. When a client blows up the b-book broker has earned the deposit and can simply reset the negative balance back to 0.

An A-book broker must manage it's exposure and risk exceptionally well - one of the reasons why our standard leverage is 1:100 and we only go up to 1:200 for clients that agree to stick within agreed exposure limits.

Hope that helps!

Cheers,
Jeremy
  • #620
  • May 20, 2021 11:57am May 20, 2021 11:57am
Quoting Jemook
{quote} Prime of Prime's don't usually provide liquidity access to retail clients and would almost never offer negative balance protection to their institutional / brokerage clients as they must pay any negative balances to their counterparties. If a regulator sets rules that a broker needs to provide negative balance protection for their retail clients then it must do so. Negative balance protection is easy for a B-book broker to offer as a negative balance is not a real loss to them as the trades didn’t go out to market. This is why it's easy...
Global Prime accepts retail customers according to it's site, does it protect their retail clients from negative balance or not?
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