Dear clients and future clients of Global Prime Forex,
I’d like to inform you that Global Prime Forex has undergone a management change. Jeremy K, Alex N and I have teamed up with Global Prime with the aim to redevelop the way a traditional broker is run. We look forward to working closely with our clients and our intent is to effectively manage Global Prime in a completely transparent way by providing our clients with honest answers to anything they ask of us as well as providing a brokerage service that is second to none.
Global Prime is an ECN only MetaTrader 4 forex broker offering some of the tightest spreads across 42 currencies through tier-1 liquidity providers.
Hi pips4x. We allow all types of trading strategies including news and scalping strategies.
All trading styles are welcomed but a word of caution as you mentioned you trade news releases:
On limit orders such as buy stops, sell stops, take profits, stop losses etc the order will be filled at whatever price is being offered by our LPs. This could mean slippage on high impact data announcements where price gaps through a limit order and the next available price is x pips away. It can be positive slippage too so it can also work in your favour but honestly our advice before you start is to have a think about this before you start trading on our ECN feed.
The issue we find with news traders is they trade on broker X on the B-book (market maker) stream for a while where they get perfect fills due to the artificial pricing. Once the trader starts making money they are moved to the A-book stream which is real pricing and then they see slippage etc.
On GP you will be on an ECN A-book only stream so my gut feeling is a news trading strategy may not be suitable on our feed. If you’d still like to go ahead I’d recommend to start small and see how it goes. If you find things are working then you can build the account up.