Global Prime tackles major Forex pain point with automated trade receipts
By: Global Prime
SYDNEY - Nov. 17, 2020 - PRLog -- Australian-based Global Prime (www.globalprime.com)
Trading queries and complaints are a major pain point for the Forex and CFD industry. A lack of transparency from brokers to their clients means traders lack the information they need to determine how well their broker is executing their trades. Even armed with this information, traders haven't received the training to understand what good and bad trade execution looks like relative to different market conditions. This causes distrust within the industry, puts traders at a disadvantage, and prevents them from making better trading decisions in the future.
Global Prime's co-founder Jeremy Kinstlinger who spearheaded the project said: "Empowering traders with institutional grade transparency and the knowledge to understand it addresses the number one cause for traders dissatisfaction with their broker. Transparency over execution means we're accountable to our clients for our performance, as are they for theirs. It is our goal that this leads to better trading decisions with the ultimate goal of our clients being more profitable".
The automated trade receipts show vital information about how well Global Prime is executing client trades. Trade receipts include:
● The spread and order book including all liquidity providers
● A tick chart showing quotes across multiple tiers before, during and immediately after the trade
● The liquidity provider who filled the trade
● Indicative VWAP and slippage VWAP
● Fill speed
While most CFD providers store this information, they don't make it available to their clients. Kinstlinger added: "We're one of the few brokers in the world who don't profit from our clients losses and we're definitely the first broker in the world to prove this fact via instant and automated trade receipts with an institutional level of detail. The trade receipts are another way to show our clients that we are on their side and we'll continue to provide our clients with tools and resources that give them an edge and support profitable trading outcomes".
About Global Prime
Traders chose Global Prime for its world class pricing and execution, institutional grade post-trade transparency as proof that Global Prime does not trade against its clients, and it's focus on community interaction through its public Discord chatroom, where Global Prime and its clients talk trading and markets 24/7.
CFD trading is high risk and is not suitable for everyone. Please review the Global Prime PDS, available from our website, to ensure you fully understand the risks involved before trading.
Global Prime Pty Ltd, ABN 74 146 086 017, holds an Australian Financial Services Licence (AFSL no.385620) to carry out financial services in Australia.
Global Prime / Angus Walker