# Aussie Broker using ForexMeta Platform & FX Tax?



## kristyna

Hi FX Traders,

I use to Forex- meta demo platform at the moment and loving it. 

1)Do any Aussie/broker use this Forex-Meta platform.?
The reason I ask is that I would like to go on live, but would like to know if I use American broker with the Forex-meta companies, are advantage or disadvantage due to fact its far away. 

2)How does this affect the tax? How do I deal with the tax in Australia when I use a broker in USA?

Does anyone have any clue?  Please help. 

I being trying to get answer for a while now but no one seem to know. 

I just start joining the forum today, hoping to get answer!

Thanks,
Kristyna


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## tayser

MetaTrader4 you mean?

I don't know of any AU brokers who offer Meta.

And re: tax - I'm not an accountant (so get this confirmed), but you just treat your profits and losses the same way as you do if the account were in Australia.  Offset losses against gains and report it as foreign income in your tax return.

Invariably you'll fill out a tax-waiver form with the US broker (I've opened and Oanda and MBT account - both US based and have seen this form twice now) which basically states that you're a foreigner who's not liable to pay tax in the US and you'll be paying it in your home country.

I did call up the tax office and query what happens when you're denominated in another currency other than AUD: When you realise (close the position) the gain/loss you need to write down the relevant exchange rate between your account's denomination and AUD.  I.e if you're denominated in USD, you need to know what the AUD/USD rate is at the time you close your position (I simply keep a text file open with my trading platform, and type in the rate *of the ASK* if the pair is AUD/XXX  or *the BID* if the pair is XXX/AUD (as we're "selling" the account denominated currency and "buying" AUD to report to the ATO) with each trade I close).

Once I've finished my trading session, I go into my broker's reporting section, export all the trades I did for the session to excel, download to my local machine, then go in and match the AUD/USD rate with each trade in the excel sheet and do the calcs so I know what my P/L is in AUD.

If you're using an off-shore account and are denominated in AUD, naturally the above does not apply and you only need download the statements and there's no need to convert the P&L figures.

HTH.


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## kristyna

Hi tayser,

Thank you so much of your advise and information.  greatly appreciated!

The Oanda & MBT account, are they both tax-waiver or US Broker?

I am thinking of using the US Broker, opern an offshore account in a small amount to start with.  To see how it goes first.

Which US Broker that use Forex Meta 4, do you recommend that are reliable and fast?    What do you think of FXCM or Interbank FX?

Regards,
Kristyna


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## tayser

no idea re: Meta brokers, only place I know where you can start doing research is on forexfactory.com.

As I said, the Oanda and MBT accounts are both US brokers, and as part of the sign up process I elected to waive paying tax in the US - it's one of the forms that is automatically filled out when you do their online applications from memory.


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## kristyna

I do some research at forexfactory.com  

many thanks


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## joedavenport

Hi,

I got an email last week from Go Markets, they are based in Oz and are lauching MT4 soon.

I will check them out and get back if anyone is interested.


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## kristyna

hi joedavenport,
Please let me know when the Go Markets Oz have the MT4 soon.  
Many thanks


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## BentRod

I've just opened an account with go markets, you don't need to fund it straight away.

Hopefully their spreads are acceptable when MT4 comes out.


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## auric

would like to know how you go with them
 i got a phone call from them late sept..very keen on the phone....forex, futures, cfds ... i then  sent them the following email to do with futures and have not got  a reply.
email sent 26th sept.2008

Hi

what will  the margins for trading calendar spreads  (intracommodity)
and also Inter commodity 


considering the following spread  of the CME Interest Rate Futures
 EDH9 - EDU8


buy 1 Eurodollar  March 2009 futures contract             EDH9 
 and at the same time
sell  1 Eurodollar  October 2008  futures contract         EDU8

what would your margin be to hold this intra-commodity spread  position


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## joedavenport

IT'S HERE!! They have the demo of MT4 on the website. I downloaded it and spreads seems to be great. 

No Futures on the demo, but they said they will only be on the Live.

Signing up for the live and hoping to get this afternoon...


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## arco

.
Is there/was there any connection to Pacific Continental, a disreputable London broking firm that  the Financial Services Authority UK closed down last year?


Extracted from ASIC's database at AEST 17:47:41 on 16/10/2008
Name 	GO MARKETS PTY LTD
ACN 	
081 864 039
ABN 	
85 081 864 039
Type 	Australian Proprietary Company, Limited By Shares
Registration Date 	05/03/1998
Next Review Date 	05/03/2009
Status 	Registered
Locality of Registered Office 	Melbourne VIC 3000
Jurisdiction 	Australian Securities & Investments Commission

Former Name(s) 
*PACIFIC CONTINENTAL SECURITIES (AUSTRALIA) PTY LTD*
	PACIFIC CONTINENTAL SECURITIES (AUSTRALIA) LTD
	REGIONAL FINANCIAL SERVICES LTD
	RURAL & REGIONAL INVESTMENT MANAGEMENT LIMITED
	RURAL & REGIONAL INVESTMENTS PTY LTD


http://www.search.asic.gov.au/cgi-bin/gns030c?acn=081_864_039&juris=9&hdtext=ACN&srchsrc=1

http://answers.yahoo.com/question/index?qid=20070731021716AAunIfg


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## tomtwopips

Hi, I've had an account with Go Markets for a long time now. Pretty happy to see they have MT4 and just downloaded it. 

Never had a problem with them and don't believe the bad press.

Anyone else had any experience with this broker?

https://www.aussiestockforums.com/forums/images/smilies/smile.gif


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## caribean

tomtwopips said:


> Hi, I've had an account with Go Markets for a long time now. Pretty happy to see they have MT4 and just downloaded it.
> 
> Never had a problem with them and don't believe the bad press.
> 
> Anyone else had any experience with this broker?
> 
> https://www.aussiestockforums.com/forums/images/smilies/smile.gif



Just two questions,
How long have you been with this broker?
Did you only just now find this forum?


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## tomtwopips

caribean said:


> Just two questions,
> How long have you been with this broker?
> Did you only just now find this forum?




been with them since May this year. but was searching google for mt4 and found this thread...


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## arco

.
My wife is a day trader, so she has downloaded the Go Markets MT4 for trial. I'll report how it goes.

The GM platform was down for a few minutes this morning, while all three of my MT4 were working perfectly. Not a good start, but maybe a one off. The 23 pip gap is still showing on the EY chart

The pip profit/loss counter is frustrating as it shows a pipette as a bold figure without a decimal point. So it looks like you've got 35 pips profit, but in fact you've only got 3.5

Safety of funds.

She spoke to a 'live person'

You are now chatting with 'Go Markets'

Go Markets: Hi, how can I help?

you: Is account money held in a segregated account?

Go Markets: No, it is held in a Client Trust Account with the NAB (National Australia Bank)

you: So in the event of a problem with Go Markets, the money is safe?

Go Markets: ASIC regulations prevent us from using client funds for company debt

Go Markets: so if we go bust we CANNOT use your funds to bail us out - they belong to you.

you: So its guaranteed to be secure in any even?

Go Markets: It is as safe as being in a Bank Account.

Go Markets: so, no, not if the banks fails.

you: Is it covered by the government guarantee

Go Markets: I do not know and would not be qualified to advise on that. You would have to check NAB's ruling

you: Ok thanks......with regard to withdrawals - how long does that take

Go Markets: About 24 - 48 hours.

Go Markets: But if you are overseas it might take a day longer for the banks to send funds

you: and would that be only to a certain bank account as specified initially?

Go Markets: We can send to any account that is in your name (or the account holders name)

Go Markets: But it must be authorised from your registered email address

arco


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## auric

just opened a live acc got amibroker running with it with dde link
 looking at historical data import at moment..


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## roonapa

I have just set up with Go for Futures and FX as not happy with CMCs new charting package, and the SPI futures contract is very cheap with GO. 
My main reason for joining this thread is does anyone know where to get good expert advisors FOC to run on MT4

Cheers


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## auric

can download historical data to backfill  amibroker 1 min data ..

data is minus 9 hrs our time i have got around this at moment with changing my computer clock back 9 hrs before i log in with amibroker


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## Stotty

roonapa said:


> I have just set up with Go for Futures and FX as not happy with CMCs new charting package, and the SPI futures contract is very cheap with GO.
> My main reason for joining this thread is does anyone know where to get good expert advisors FOC to run on MT4
> 
> Cheers




Haven't yet properly looked at GO's setup, but with most MT4 systems there is the ability to download them from the language editor in the platform. I'd assume it wll be the same.


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## arco

.
Stotty or Anyone 

Can you download Metatrader daily prices into Metastock

(if so how?)

thanks - arco


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## MS+Tradesim

arco,

I haven't tried this myself but here is a possible solution:

http://www.metatrader4.com/forum/226

I'm looking for a solution to a similar question and I came across this. Quite by chance saw your question here. Hope it helps.


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## arco

.
Thanks MS......................had a look and it sounds a bit complex.


*GO MARKETS*

The platform has been down for quite some time tonight.....3 other MT4s are working perfectly, so maybe GM have a technical glitch.......*not off to a good start. * 

It will be interesting to see what has happened to the orders that were left with targets.

Any other having the same problem?


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## arco

*GO MARKETS*

The platform is up and running again - no idea what time it re-appeared in the evening.

Theres no gap showing on the chart for the period it was off last night, but the earlier 3 hour morning gap is still showing on EY.

The order placed on the demo didn't have a target so not sure if it would have taken a TP.

Closed that one off now at +405 - thats actually *+40.5 pips*

We will check reliability next week, because for a day trader yesterdays glitches would be impossible to work with.

arco


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## roonapa

Loaded up some expert advisers to MT4 and all seems to be going well.
I didnt have any problems with GO's live platform last night , maybe their demo was having some initial work done.
Made a tiny profit last night that isnt worth mentioning but better than making a loss

Lets see what next week brings but if any one has some great expert advisers to share I would love to test them


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## el caballo

All,

How is Go Markets going - any updates appreciated.


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## arco

el caballo

I'll give you an update tomorrow when I get more time

rgds - arco


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## el caballo

Thanks Arco.

My questions would include:

1) Are you comfortable with these guys?  I note that your note about Pacific Continetal has not yet been addressed.

2) Ease of use re: the platform and spreads etc.


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## Boggo

Thanks arco

I would be interested in a few areas too, namely...

1. What is the maximum distance that you can set a stop from the current price both when you are creating an order and after you are in a trade.

2. Are the actual account trades instant or is there a delay (Alpari in the UK for example are instantaneous on the demo but each trade requires input which can take 20 secs or more in the actual account).

I will see what you think of it all arco. Would appreciate any points of interest/concern.

Cheers
Mike


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## Reealjrd

Mt4 is a nice platform to trade but apart from it you must try somthing different.
I have heard about AVAFX how is it. Can any one tell me about it. I know that there is no other substitute of MT 4.


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## glenn_r

Boggo,

I've been trading with GO Markets MT4 for the last couple of days using their live platform, so far so good.

A few points, trade execution is as fast as IB, with all futures and FX you can trade a .10 contract position size, which for example the SPI can be traded @ $2.50 per point at a cost of .40cents each way.

I'm still learning how to drive the platform and have yet to use stops as I'm just scalping the SPI at the moment, also I'm looking to feed other charting programs with data using DDE which can be done I believe.

I'll report more later.


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## arco

*el caballo*

_1) Are you comfortable with these guys? I note that your note about Pacific Continental has not yet been addressed._

This previous company connection leaves some doubt in my mind as to whether any money deposited would be totally safe. Customers money is held in a non-segregated account, so I imagine Go Markets would have unlimited access to withdraw funds without consultation to anyone.

_2) Ease of use re: the platform and spreads etc._

There seems very little difference to other MT4 platforms. Very easy to use IMO and most people will pick it up quickly. The spreads are reasonable  - Majors 2 or 3 pips, Aud 3 pips, Aud Jpy 7 pips. Pippettes are an annoyance on the profit display and these are not shown on all MT4 platforms, and I cant find a way of solving the problem.

Be aware Metatrader has been reported as having a special 'plug in' that is designed for the benefit of the broker. I mention more about this on the link below and there is also some other info on a MT4 test I did last year which could be of interest.  http://www.sharetrader.co.nz/showthread.php?t=5458&page=2
*

Boggo*

_1. What is the maximum distance that you can set a stop from the current price both when you are creating an order and after you are in a trade.
_
I think the minimum ditance is 6 when amending an order (only tried EY). There appears to be no maximum SL - I tried 1000 pips and it was accepted

_2. Are the actual account trades instant or is there a delay (Alpari in the UK for example are instantaneous on the demo but each trade requires input which can take 20 secs or more in the actual account)._

The demo is instantaneous, perhaps one of the earlier posters who have live accounts can confirm if there are any differences between demo/live.

rgds - arco


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## Boggo

glen and arco, thanks for that guys.

I am running a trial of MT4 (not via GO) with a data feed to MTPredictor which updates every minute. 

I run 30min, 60min and 4hr "live" charts and am having some acceptable results if I am patient and wait for the signals.

My concern is articles such as this http://www.forexfactory.com/showthread.php?t=70582 where it highlights computer generated intervention to favour the broker.

The other aspect is that I need to be able to place tight stops at the time of execution of the order ideally and that is where the minimum distance from the market is a factor. Some brokers have limits such as 30 points etc, that is too far for what I am testing.

For the moment I will see if anyone comes up with any issues and there are a few items I may call them about.

If GO do this properly they could be on a real winner.

Thanks again
Mike


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## arco

Mike
_
Quote. The other aspect is that I need to be able to place tight stops at the time of execution of the order ideally and that is where the minimum distance from the market is a factor. Some brokers have limits such as 30 points etc, that is too far for what I am testing._

Placing tight stops/targets on most MT platforms is not a problem.
Not sure what you mean by tight, but I sometimes use 5 to 10 pip target.
I think the minimum stop I have used is 20 on majors, but I'm sure you could reduce that easily.

Heres a few Hotkey commands for those interested.

In the full-screen mode, the following hotkeys can be used to open command windows:

    * Ctrl+M - Market Watch
    * Ctrl+N - Navigator
    * Ctrl+T - Terminal
    * Ctrl+D - Data window

To return to the normal mode, just press F11 again.

arco


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## auric

Glen what is the margin for the 0.1 spi contract?

At present i have only traded audusd forex and the trade execution was very quick no hangups 
they need a bit more info on margins and the option for mini trading futures/forex on their web site
mini forex:::

0.1 audusd forex  margin was $100 and 1.4556 per pip and a 3 pip spread.

here is my dde setting for amibroker for go 
	

		
			
		

		
	



	

		
			
		

		
	
markets


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## glenn_r

auric,

The margin on the SPI  .10 contract is $283.30

Thanks for the DDE settings for AB


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## kristyna

Hi everyone,
I have download the MT4 yesterday with Go Market.  Try out the demo and hopefully connected to live today. 
There  is a slow connection with the platform but eventually its settle down.  
2 pips for eur/usd and 3 pips for aud/usd - not bad
Have to do some adjustment with my charts because of the 5 decimal pricing.
Anyway, so far so good!
Regards,
K


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## auric

thanks..glen_r

you can download the historical data into amibroker to backfill, I set my computer time (NSW) back 9hrs and then import it into amibroker then the data is in sync, with gomarkets dde data


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## white_goodman

it looks good to me so far from the demo... can someone explain to me about the plugin that brokers use for mt4 thats meant to be dodgy...im trying to follow the thread on forexfactory but my forex lingo and abbreviations is not up to scratch yet to follow it....


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## ThingyMajiggy

I am trying out the demo of MT4 with GO, I also have a live account ready to go, but I noticed with the demo at least that you can only set your stop a MINIMUM of 60 pips away. If this is the case its a bit stupid isn't it? Or am I just totally baboozled? I tried setting a stop and it said it had to be at least 60 pips from market. 60 pips! what the point in having a stop that far away, for me anyway. 

Otherwise it seems great, haven't heard about this broker plug in though, will have to investigate that me thinks


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## arco

Sam

You are confused with the pipette problem I have been mentioning throughout this thread.

60 = 6.0 pips (6 pips)

300 = 30.0 pips (30 pips)

rgds - arco


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## el caballo

My concern is articles such as this http://www.forexfactory.com/showthread.php?t=70582 where it highlights computer generated intervention to favour the broker.

Surely the above input from Boggo dampens the enthusiasm for market maker "brokers"?


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## ThingyMajiggy

arco said:


> Sam
> 
> You are confused with the pipette problem I have been mentioning throughout this thread.
> 
> 60 = 6.0 pips (6 pips)
> 
> 300 = 30.0 pips (30 pips)
> 
> rgds - arco




Ahhh ok is that what it is  Sorry! 

Nearly died with my leg in the air when I saw it was 60!


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## arco

Re the Plug In - theres some info here

http://www.earnforex.com/blog/2008/02/mt4-brokers-accused-in-being-scam/


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## white_goodman

arco said:


> Re the Plug In - theres some info here
> 
> http://www.earnforex.com/blog/2008/02/mt4-brokers-accused-in-being-scam/




Oh so it was just for demo tournaments? People have run away with this story?

I dont know what to believe, guess I may have to give GO a go and see for meself.


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## Boggo

white_goodman said:


> Oh so it was just for demo tournaments? People have run away with this story?
> 
> I dont know what to believe, guess I may have to give GO a go and see for meself.




I went looking for the opposite side of the story (there is always one) but couldn't find one until that link, ta arco.

I have organised a demo account, looks ok so far, I run Iress as well and it all seems to line up at the moment.
Next question is the real time account, order delays, slippage, price spikes etc are are often the items that I hope are not an issue if they want to retain credibility.


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## white_goodman

Boggo said:


> I went looking for the opposite side of the story (there is always one) but couldn't find one until that link, ta arco.
> 
> I have organised a demo account, looks ok so far, I run Iress as well and it all seems to line up at the moment.
> Next question is the real time account, order delays, slippage, price spikes etc are are often the items that I hope are not an issue if they want to retain credibility.




If your working off a higher timeframe such as 4h or 1h charts would this perceived 'programmed cheating' be averted somewhat? Does it mainly affect scalpers?


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## arco

Guys (and any Gals)

Dont worry about the platform, etc. MT4 is very easy to use and make pips.

*The main concern should be*.............is your money safe

arco


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## BentRod

First time trading with Go markets this morning, anyone else getting alot of requotes?


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## arco

Hi BentRod

Yes, this seems to be a problem with all MT brokers in my experience......*the platform is geared to extract your money.*

Notice one thing? - you only get re-quotes in one direction....against you.

If you buy/sell you never get a re-quote if the price moves to your advantage.

If day trading I find it best to decide what profit you want to take....say 20 pips and put that as a TP...............


.......................bingo no re-quote (so far).

arco


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## BentRod

Gday Arco,

Fair enough, thanks mate.

Not used to them as I never get them on Oanda and don't get any slippage either.

cheers


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## BentRod

Spreads for those interested. 

Not impressed with the spread on AUDJPY, the others don't seem to bad.


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## arco

Hi BentRod


Yes I also use Oanda and haven't experienced slippage with them. (They had 10 pips spread on Cable and EY earlier today......greedy bar stewards)

I also came across a problem with the big 'O' yesterday when a message box popped up and stopped me from exiting a trade (if it happens again I'll get a snag)........its the nearest I've come to getting slippage with them and I lost 14 pips on that little game. 

It may be another broker ploy to gain more than they should

arco


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## BentRod

> Yes I also use Oanda and haven't experienced slippage with them. (They had 10 pips spread on Cable and EY earlier today......greedy bar stewards)




This has been getting on my nerves lately too, part of the reason I opened with Go.

Even now, Cable-8 pips and AUDJPY-8 pips....very annoying!

Starting to think multiple accounts with multiple brokers is the better way.

Regarding the requotes with Go....I was just entering a short in EURJPY before and got six in a row...by the time I got set the market had moved 15 pips.


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## arco

BentRod

We cant let them win this game..........I think this calls for a ladder technique.

I might experiment with that tonight if I have time.

rgds - arco

PS watch out for that pop up box on Oanda......


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## glenn_r

I had a couple of requotes earlier today for the first time with GO live but after that it was fine but my platform was very slow today with changing windows etc, I don't know if its my computer or what, I'm looking into it.

P.S.  After typing this post I went back on the platform and its fine now, it was freaking slow all afternoon.
Maybe the Russian economy imploding was the cause?


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## arco

.*GO Markets*

Just tried to manually close a EY trade at 60 pips.......*3 requotes later = 41 pips.*

Rob-bers..............you gained 19 pips.................Funny if its 19 pips the other way you dont give it to me

Oanda is still superior IMO


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## arco

Hi Glenn

The platform is not slow for me ......its fast.........particularly at giving re-quotes


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## BentRod

> Oanda is still superior IMO




Without a doubt. 

I've had over 30 requotes now, thats a lot of slippage!


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## wabbit

arco said:


> .*GO Markets*
> 
> Just tried to manually close a EY trade at 60 pips.......*3 requotes later = 41 pips.*
> 
> Rob-bers..............you gained 19 pips.................Funny if its 19 pips the other way you dont give it to me
> 
> Oanda is still superior IMO





What slippage are you using?


wabbit


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## Boggo

arco said:


> .*GO Markets*
> 
> Just tried to manually close a EY trade at 60 pips.......*3 requotes later = 41 pips.*
> 
> Rob-bers..............you gained 19 pips.................Funny if its 19 pips the other way you dont give it to me
> 
> Oanda is still superior IMO




I think I may be looking elsewhere if this is how they are going to run the real thing, a pity really.

Mike


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## arco

.

Actually my wife is the one testing the GO platform.....(I'm just doing the reporting)

She has taken the $25000 to $35000 in 2 days......only trading about 2 hours a day and only on EY....using no indicators, just market action. Just imagine the figure without slippage.......

Not sure if  GO would like her style of trading 

Can just imagine the e-mail now........sorry, blah, blah, blah

GO says STOP


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## BentRod

She would have done well Today


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## wabbit

Male domestic blindness is a curse....

How do I get futures datafeeds into MT4 with Go?  Is this done on a subscription basis? or is there a specific futures data server?


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## BentRod

Wabbit...Futures charts are on there together with the Forex.


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## wabbit

mmm... not in my system?

no CL and no KC???


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## BentRod

Right click in the "market watch" window...."show all"


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## wabbit

the above pic is "showing all"

???

I'm going to guess its a demo server vs real acct server issue?


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## BentRod

You selected "show all" and nothing happened?

No idea what the problem is then.

Here what is on mine.


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## arco

Oanda version of slippage ?????

.................try and enter on a fast moving bar 

Don't think this is a coincidence anymore......its happened 3 times now.

....................each time big delay and filled at a very bad price.


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## white_goodman

is anyone with ibfx?


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## wabbit

If you're trading the news or trying to scalp with rapidfire trades then you'll probably get hit; if you set your TP and SL with the pending order with reasonable values for slippage then you will find you have less troubles with brokers - - IBFX included.

I have a small acct with ibfx and haven't had problems of any significance, but then again I am a small fish in a very big pond and probably fly under their radar?

You can read good things and bad things about all the brokers here:
http://www.forexpeacearmy.com/public/forex_broker_reviews/Name/asc 

Read on and make up your own mind.  Keep in mind though, in the forums, you hear the bad things from those who have tried to outsmart the broker and have been burned; the people happily trading and making some money don't have much reason to post.


wabbit


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## arco

.
I've been trading for 24 yrs

I don't trade the news, and have been with Oanda for around 5 yrs without problems.

This 'Warning Notice' is a new occurrence to me. Never struck it before,
and it seems strange it should happen 3 times in 24 hrs. 

So not complaining about Oanda generally, as everything has been AOK.

In fact I have recommended them to many other traders as the best out there IMHO.

arco


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## BentRod

> I've been trading for 24 yrs




Great to have someone of your experience around mate.

Regarding Oanda, have you sent them an email with Screenie?

Usually they are pretty good at responding to emails.


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## arco

.
The market we have at the moment is pretty frantic, so I'll see if it happens again and take screen shots if necessary. Normally I enter on Limit orders with TP, so its not usually a problem.

No real damage - just frustrating when it happens.


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## white_goodman

thats pretty **** how often they are requoting for a new system... ill give it another few weeks for reviews before i commit money to it...


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## arco

WG

I imagine most of the MT brokers may be re-quoting at the moment. Its the speed of the moves we are getting.


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## glenn_r

I've been doing a few FX trades tonight and there was no re quoting with instantaneous execution as quoted.


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## white_goodman

arco said:


> WG
> 
> I imagine most of the MT brokers may be re-quoting at the moment. Its the speed of the moves we are getting.




that is true, if i put in a tp and sl maby the slippage will be averted


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## roonapa

Hi,

relatively new to FX but have just started with GO, i had requotes on the demo but the live seems to be working fine, may run off a different server. Even last night with lots of data the quotes were fine , just unlucky that my trade went in the opposite direction.
Will stick to EA's in future.


----------



## el caballo

Those re-quotes on GO are sufficient to dissuade me.  

Also, are those spreads for their market-made product, and are they fixed?


----------



## arco

el caballo said:


> Those re-quotes on GO are sufficient to dissuade me.
> 
> Also, are those spreads for their market-made product, and are they fixed?




Spreads may vary, and are usually higher at important news times. But this is mostly the same with the majority.


----------



## Senaka

I'm also going to open a live account with Go Forex. Currently I'm with IBFX for the last 3 years. No issues there. I'm trading a 200K account and  I feel safer to have my money at NAB rather than a US bank.


----------



## white_goodman

Senaka said:


> I'm also going to open a live account with Go Forex. Currently I'm with IBFX for the last 3 years. No issues there. I'm trading a 200K account and  I feel safer to have my money at NAB rather than a US bank.




hmm true that... though how safe is any bank these days...


----------



## Senaka

white_goodman said:


> hmm true that... though how safe is any bank these days...




If NAB goes bankrupt , at least I can knock on Kevin Rudd's door until I get my money back . In the US , I will have no hope & I will get  second class treatment. However, I will have to do more research on Go Markets Financial standings before I move my accounts.


----------



## el caballo

Senaka,

Those disadvantagous, regular requotes aforementioned in this thread aren't sufficient to dissuade you?


----------



## Senaka

el caballo said:


> Senaka,
> 
> Those disadvantagous, regular requotes aforementioned in this thread aren't sufficient to dissuade you?




el caballo,

Those re-quotes do not bother me. I got accounts with FXCM, IBFX and MBT. Trust me , I get re quotes or bad fills with all of them . My main account is with IBFX.  Just on Friday, I tried to close my IBFX- GBPJPY trade  21 times unsuccessfully and I had to call through to close  that position. The trade moved 237 pips against me by the time I managed to close it over the phone , but still it was profitable. I don't hold the re quotes against my broker, specially when the market is moving 100miles/ph.  May be that's the reason I survived in this forex jungle as a full time trader for the last 3 years. I must also mention that when I tried to close my IBFX,  GJ position, FXCM spread was 35 pips , MBT was 28pips but IBFX 9 pips. 
Also, I do not scalp, do not take any news trades and my target profit is around at least  120-150 pips on every trade . Therefor few re-quotes on normal market condition wouldn't bother me. 

What matters to me most is  , a broker should have good phone support 24hrs and apart from platform problems, they should play a fair game. Here's an example of the fair game I would expect from my broker, 

Friday I entered  a AUDJPY short  trade and  when the pair moved +75 pips, I moved the SL @ entry. Very next second the trade was closed @ $0  when the price was nowhere near  my Entry/Stop loss.While the trade was dropping 300+ pips from my entry  I called  through to IBFX immediately , and after checking their records , they deposited $12600 ( for 300+ pips @ 4 lots) for that trade into my account. Didn't even take 5 minutes. Now thats fair game.


----------



## Senaka

Most re-quotes or off quotes occurs due the internet speed. You need at least 2000 Kbs upload speed (not download) in order to trade online. My ADSL2+ or Telstra Cable barely gives me 1500Kbps. It's too bad that we Australians got slower internet speeds than rest of the world


----------



## el caballo

Senaka,

You make sensible points - and not being a scalper, the requotes should not harm you that much.   Three years full time is a good effort - best wishes with it.


----------



## Boggo

Senaka said:


> Most re-quotes or off quotes occurs due the internet speed. You need at least 2000 Kbs upload speed (not download) in order to trade online. My ADSL2+ or Telstra Cable barely gives me 1500Kbps. It's too bad that we Australians got slower internet speeds than rest of the world




I am not questioning you Senaka but I just cannot understand why this problem seems to be in epidemic proportions with forex only, and seemingly only on real accounts.

Well done for being succesfull while contending with that issue, do you have an approximation of what that may be costing you, ie, potential profit vs actual because of requotes.

I run Webiress linked to two stock accounts and I run Marketech software on a stock and index CFD trading account, I never have these problems of the type that only seem to appear with forex (I am just going on what I hear and read with that opinion re forex).
My (possibly oversimplistic) view is that the speed at which you get the data presented to you should be the speed at which you should be able to act on it as is the case with both of the software systems just mentioned above.

A question for GO users (or any MT4 users), do these requotes occur if say you put in a pending order with a buy (or sell) limit a pip or two ahead of the market in its current direction, or, do requotes occur if you place an order with the maximum deviation from quoted price function enabled ?

This is from the MT4 help file...


> Deviation
> The symbol price can change within the ordering time. As a result, the price of the prepared order will not correspond with the market one, and position will not be opened. The "Deviation" option helps to avoid this. Maximum permissible deviation from the value given in the order can be specified in this field. If prices do not correspond, the program will modify the order by itself what allows to open a new position.




and a piccy of the buy/sell window


----------



## Senaka

Boggo said:


> I am not questioning you Senaka but I just cannot understand why this problem seems to be in epidemic proportions with forex only, and seemingly only on real accounts.





Hi Boggo, 

Yes, the re-quotes and slippage can  have a big impact on  someone's profitability. 
My main bread winning  strategy is based on the daily bar and I usually place all my market or limit orders at the start of the daily bar around 8AM AEST with  predefined Stop losses and Take profit limits. I also use an EA to move my stops at break even when the trades moves into positive territory. 99% of the I get my predefined levels filled upto the pip either take-profit or stop-loss. I only get the slippage sometimes when I try to manually exit the trade  .  I always avoid trading the news moves as well as never enter new trades during London and NY high volatile sessions. 
What I'm trying to say is, I have changed and developed my trading strategy to overcome those broker platform obstacles. If you cannot beat the broker, you might as well join them 

The re-quotes I mentioned on my earlier post was on Friday's under the extreme market situation , which we could only  see once in a life time. 

If you aren't a scalper and if you got a half decent trend trading strategy with good Money management, there are lots of money to be made in Forex regardless of the broker issues. If I worry too much about every single pip , which my broker steals from me, that will only add few more wrinkles to  my face.  But I can assure you that forex trading will be a pleasant  experience if you play by *their* rules. And yes , still you can make consistent profit s even if you play by their rules.   

Also, if you look from their point of view, generally  forex is at least 100 times more volatile than most volatile stock instrument on ASX.  If you look at level 2 or 3   FX platforms such as Currenex, Ducascopy or Hotspotfx, you will see how fast the price can fluctuate. sometimes you get dizzy even by looking at it for 5 minutes .  What we get on MT4 is the filtered and frozen price. Therefor , during the volatile times brokers are also battling to keep the price steady with the Inter bank  fluctuations.

About MT4  Demo vs Live, again Live is filtered and Demo is non filtered.  There's is a slight difference in the  price feed.


----------



## tayser

Boggo said:


> I am not questioning you Senaka but I just cannot understand why this problem seems to be in epidemic proportions with forex only, and seemingly only on real accounts.




It's not a problem, it's a business model!!!

two words: Bucket Shops.  aka "Market Makers".

The Broker is making the market - you're not trading directly with the real FX participants which are primarily banks, you're trading inside a market ruled by an army of traders at a broker.  As they make the market, they can effectively do whatever they want with your trade (owing to the nature of the FX market: no central exchange, over the counter and little regulation).  Re-quotes happen when the market moves quickly and the broker's also doing the same - they're getting in first then they start accepting positions from you as they've started hedging.

Remember a "no commission" broker is being paid by the spread - that means they're most likely taking the same/similar trades as you but on a different platform with another institutional platform (when you are winning, they are losing, so they need to also "win" to make money - they do it with someone else).

i.e Market Maker offers 8 pips on AUD/JPY, the Market Maker gets a spread of 0.5 on AUD/JPY from another platform.  You take a short, the MM takes a short - they're getting about 7 pips from you (as they will pay a commission to their broker)....

Factor in when you've put an order in for a short on 8 pip spread, they broker halts your trade temporarily - "re-quotes" - in the meantime the broker has executed at the same time as you but gives you a quote 4 pips lower - they've just made 11pips off you.. etc etc etc.  This is a very simple and crude example, but one to highlight the shenanigans which goes on.

The up shot is: why deal with these scumbags in the first place?  I re-iterate: MetaTrader 4 = Bucket shop city.  Go straight to an ECN like Currenex - you can open Currenex Margin accounts for $2.5k with ADM Derivatives and not have a manipulated feed, tighter spread from the beginning compared to MMs and when you start hitting volume targets and equity targets, you can start negotiating spreads (yes, that's right - anyone has the ability to negotiate spreads if you meet certain requirements, just not with Market Makers), commissions and the like.

$0.02


----------



## Boggo

Thank you for that Senaka.
In theory I don't think that re-quotes should be too much of an issue for me then. My intention and what I am looking at with my current exercise is to use 30min, 60min an 4hr charts.

In the example below my signal appears during the formation of the second last bar, during the build of that bar (updated every 1 min) I get my entry and stop however I have to wait until it is complete and a new bar has commenced before the entry and stop points are finalised.

In this example then I have plenty of time to place my order with the size (0.4), the entry and my stop all at the same time.

From your experience with different brokers should my stop be executed at my preset point in this case or does that area become an area of re-quotes as well ?

Sorry for dragging this out, I appreciate your time and input.

(60 min chart of AUDUSD, click to expand)


----------



## Boggo

Thanks tayser, good insight into how it works.

Basically, you can make money as long as someone else gets some of it by you having to play by their modified rules.

Sounds familiar, I tried trading CFD's with a popular CFD "provider" whose first name had more than one and less than three letters and I gave up in frustration at their games and software "problems" when things started going my way.

Actually I was asked to leave one of their "seminars" in the Adelaide Hyatt when I asked one too many questions about software hiccups, stops, risk/reward and other concepts that were foreign to them. It was suggested to me that I was being disruptive, funny thing was about six other people who I didn't even know got up and left with me.
I reckon that move made his already existing bad case of teen acne even worse 

Ta


----------



## BentRod

> the requotes should not harm you that much.







> I tried to close my IBFX- GBPJPY trade 21 times unsuccessfully and I had to call through to close that position. The trade moved 237 pips against me by the time I managed to close it over the phone





Geez, almost 10 G's on 4 lots.


----------



## BentRod

> The up shot is: why deal with these scumbags in the first place? I re-iterate: MetaTrader 4 = Bucket shop city




I now understand this comment.

I'll be giving these guys/all Mt4 brokers a miss from now on.


----------



## arco

tayser said:


> It's not a problem, it's a business model!!!
> 
> two words: Bucket Shops.  aka "Market Makers".
> 
> The Broker is making the market - you're not trading directly with the real FX participants which are primarily banks, you're trading inside a market ruled by an army of traders at a broker.  As they make the market, they can effectively do whatever they want with your trade (owing to the nature of the FX market: no central exchange, over the counter and little regulation).  Re-quotes happen when the market moves quickly and the broker's also doing the same - they're getting in first then they start accepting positions from you as they've started hedging.
> 
> Remember a "no commission" broker is being paid by the spread - that means they're most likely taking the same/similar trades as you but on a different platform with another institutional platform (when you are winning, they are losing, so they need to also "win" to make money - they do it with someone else).
> 
> i.e Market Maker offers 8 pips on AUD/JPY, the Market Maker gets a spread of 0.5 on AUD/JPY from another platform.  You take a short, the MM takes a short - they're getting about 7 pips from you (as they will pay a commission to their broker)....
> 
> Factor in when you've put an order in for a short on 8 pip spread, they broker halts your trade temporarily - "re-quotes" - in the meantime the broker has executed at the same time as you but gives you a quote 4 pips lower - they've just made 11pips off you.. etc etc etc.  This is a very simple and crude example, but one to highlight the shenanigans which goes on.
> 
> The up shot is: why deal with these scumbags in the first place?  I re-iterate: MetaTrader 4 = Bucket shop city.  Go straight to an ECN like Currenex - you can open Currenex Margin accounts for $2.5k with ADM Derivatives and not have a manipulated feed, tighter spread from the beginning compared to MMs and when you start hitting volume targets and equity targets, you can start negotiating spreads (yes, that's right - anyone has the ability to negotiate spreads if you meet certain requirements, just not with Market Makers), commissions and the like.
> 
> $0.02




Check out the Cyrox forum site, theres a lot of good positive info on ADM there. You may need to register - (its free).

http://www.cyrox.com/forum/

Brokers thread and especially "Let us pick the Broker for Cyrox Simple Scalpers"

_heres a copy of the first  post

The Broker is ADM Derivatives, Inc.

Please test the platform at least a month before you take real trades - Currenex Pro and Lite

Currenex Pro:
- Minimum account size is $25,000 USD.
- 1:100 leverage.
- $4.0 per $100,000 USD traded (Round trip).
- No official volume sliding scale, but if you trade in excess of $500 million a month - you can negotiate a cheaper rate.
- Lowest Currenex spread. GBPJPY is 3-5 wide on average and the EURJPY is 1-2 wide etc and EURUSD is 0.5-1.5 wide.
- Minimum trade size 1 lot.

Currenex Lite:
- Minimum account size is $2500 USD.
- 1:100 leverage.
- Spread similar to the regular Currenex rates.
- $4.5 per 100,000 USD traded (Round trip).
- Negotiable volume scale.
- Lowest Currenex spread.
- Minimum trade size 1 lot.

NB! The Currenex lite is a market making platform, but same Currenex bank feed is directed through this platform - so no fixed spread like other market makers... similar but much better than MBT market making concept and commission structure...

Now all Cyrox Simple Scalpers can make money... No need to struggle with MBT or Oanda... Charge on and make millions...

Contact Greg Cieply directly and ask for demo for Cyrox Simple Scalpers...

Greg Cieply
Foreign Exchange Sales
ADM Derivatives, Inc.
e-Mail: gregory.cieply@admd.com
v-Mail: 312 242 7714
Fax...: 312 242 7715

NB! I am not an Introducing Broker - I just negotiated best price for our Cyrox Simple Scalpers... So all the profit goes into your pocket and make you filthy rich... If and only if you know what you are doing and you follow the Cyrox Simple Scalping Rules... Again - get familiar with the new platform (Currenex Lite or Currenex Pro) for at least a month before you take real trades..._

arco


----------



## Senaka

Boggo said:


> Thank you for that Senaka.
> In theory I don't think



Boggo, 

I haven't experienced any slippage / re-quotes on *pre-defined* TP or SL with IBFX.However I cant vouch for Go Markets since I never had a live account with 'em so far.


----------



## Senaka

There are Pro's and con's  on every broker platform.
What I don't like about Currenex is , their spreads can widen up to 15-30 pips on  JPY pairs even during the normal market conditions at Asian session. This is what I have seen on Man Financial Singapore(Currenex), during my test drive few months ago. 

Since most of my trades take place during the early hours of Tokyo, I wouldn't want to pay 10+ spread as well as a commission on my trades.


----------



## arco

GO.

Demo has been performing well so far this week.

*Who has deposited real money with them so far ?????*

Any problems

rgds - arco


----------



## Boggo

Demo has been without a problem.

My account was opened today, funds should be there tomorrow.

Their staff seem really helpful and always seem to answer the 1800 number every time.

Only area that I am wondering about is if the speed difference has any impact on the re-quotes issue.

The top pic is all that I can find at this stage on speeds etc.

This bottom pic shows the demo and the real overlaid, the top portion is the demo and the bottom is the real account.


----------



## arco

Hi Boggo

Thanks for the reply.

Please keep me informed once you start using the real platform

We may decide to set up a small a/c initially to see how it performs.

*Speed on our demo is currently 734/3kb.* (Variable)

We have 3 other brokers platforms running, so not sure if that could 
make an overall difference to speed.

rgds - arco


----------



## Boggo

arco said:


> *Speed on our demo is currently 734/3kb.* (Variable)
> 
> rgds - arco




I may have got the equivalent of your 734 wrong, I was under the impression that it was a speed or rate, it actually seems to be an accumulation of something as it continues to increase, data perhaps ?

When I closed the program and restarted it then it resumed at 0 and continued to add to it. I am not sure what the right side figure is either... 
Sorry arco, bum steer.


----------



## arco

.

*GO MARKETS*

.............*my wife has been put on 'REQUEST' for orders and shes only testing the demo so far. Maybe because she almost doubled her account in 8 days?????????? There are NO INSTANT EXECUTIONS ANYMORE* 

Just had a chat...things may be OK

Chat Information Please wait for a site operator to respond.

Chat Information You are now chatting with 'Go Markets'

Go Markets: Hello, how can I help?

you: What has happened to the instant execution.....its now shoows 'please request'

Go Markets: Are you a client of ours and if so, what is your account number or login? Are you on the demo or the live platform?

you: Demo

Go Markets: We are looking into it now, which currency pair are you looking at?

you: Eur.Jpy

Go Markets: Please try again now and it should be fine.

you: Yes working OK again..... why would this happen????

Go Markets: The demo is just that - a demo. There might have been some updates on the server and thus restored to factory settings. The demo uses a completely different server to the live.

you: OK. This is obviously a function that is available..In what circumstances would it be used

Go Markets: All live accounts are instant exec up to 5 Million as standard - but we can raise this for individuals

you: OK thanks...


arco


----------



## arco

Any clients with real accounts had the above problems today ?????

thanks - arco


----------



## Boggo

arco said:


> Any clients with real accounts had the above problems today ?????
> 
> thanks - arco




Platform running, I haven't put any orders in yet arco.
I didn't go near doubling my account but had a good run without any problems on the demo.

I will let you know if there are any issues.


----------



## arco

Boggo

If you open a trade ticket you will see whats happening.

Press F9 for ticket


If it says 'request' you will see, and its the problem

If it says Sell At Market/Buy at Market all is fine

No need to place an order to check .......just close the window.

rgds - arco


----------



## Boggo

Its all fine arco, instant execution available both via F9 and right click on any of four open charts.


----------



## arco

Many thanks Boggo

Please keep us all informed of you satisfaction (or otherwise).

rgds - arco


----------



## BentRod

> There are NO INSTANT EXECUTIONS ANYMORE




Yes I had this on EUR/JPY.
The button said "request for execution"

After a while it went away.

Just another trick by the looks of it.


----------



## roonapa

Live platform still running well for me, haven't experienced any request for quote.
Anyone know how to change the chart time to my time zone


----------



## arco

Oanda has a system in place which stops you loosing more than your account balance.

I could not find any reference to this on GO MARKETS web-site or in their terms and conditions (Although I do need to read them again).

However, I enquired on LIVE CHAT



_Please wait for a site operator to respond.

Chat Information You are now chatting with 'Go Markets'

Go Markets: Hi,

Go Markets: How can I help?

*you: Hi. With MT4 forex accounts is the risk limited to the balance of the account

Go Markets: Technically no, it is not. But we do have stop out systems in place to try to prevent this. The only reason that these would not work would be if there was a major gap between FX close on Sat morning until Open on Mon morning and only if you were holding positions over this time.

you: So during the week 24 hrs a day your stop out system would kick in and the maximum loss would be the whole account and nothing else

Go Markets: Yes.*

you: Thks. In the case of an over weekend gap which gaps over the stop, does the trade stop its self out at the first gap open price

Go Markets: Yes 



_


----------



## white_goodman

arco said:


> Oanda has a system in place which stops you loosing more than your account balance.
> 
> I could not find any reference to this on GO MARKETS web-site or in their terms and conditions (Although I do need to read them again).
> 
> However, I enquired on LIVE CHAT
> 
> 
> 
> _Please wait for a site operator to respond.
> 
> Chat Information You are now chatting with 'Go Markets'
> 
> Go Markets: Hi,
> 
> Go Markets: How can I help?
> 
> *you: Hi. With MT4 forex accounts is the risk limited to the balance of the account
> 
> Go Markets: Technically no, it is not. But we do have stop out systems in place to try to prevent this. The only reason that these would not work would be if there was a major gap between FX close on Sat morning until Open on Mon morning and only if you were holding positions over this time.
> 
> you: So during the week 24 hrs a day your stop out system would kick in and the maximum loss would be the whole account and nothing else
> 
> Go Markets: Yes.*
> 
> you: Thks. In the case of an over weekend gap which gaps over the stop, does the trade stop its self out at the first gap open price
> 
> Go Markets: Yes
> 
> 
> 
> _





seems like any trades hoping for a gap on saturday should be made with a guaranteed stop loss on another broker as i presume GO doesnt have this feature


----------



## arco

Hi WG

Which broker/s offer this service

Thks - arco


----------



## white_goodman

arco said:


> Hi WG
> 
> Which broker/s offer this service
> 
> Thks - arco




ig markets have a GSL feature for forex.... the cost is an extra 3 pip spread , but if you do it jsut before trading closes no worries....

potentially you could lose very minimal but have the advantage of the gap up.. i havent done this before but id presume it would be the case


----------



## white_goodman

is there a way to change the gomarkets pricing so it hasnt got like 5 decimals?

eg


AUD 0.67150 , its sending my indicators outta wack


----------



## arco

.
*How are people with live accounts going???*

*Anyone drawn any money back yet?*

rgds - arco


----------



## roonapa

Live platform still working well. Quite impressed so far. Haven't withdrawn any funds yet but have asked question and apparently it takes about 24 hours. Might test with a small withdraw, will keep u posted.


----------



## Senaka

arco said:


> Any clients with real accounts had the above problems today ?????
> 
> thanks - arco




I Had the same problem with IBFX MT4 for Eur/jpy. It seems like it was a MT4 issue rather than Go Markets.


----------



## Boggo

Anyone else having problems with the real account dropping out, ie "No connection".

Happened a few times last week, I rang them up and they said they were having server issues, been off for about 10 mins now, cannot log in.

Not sure if my short on the NQ has gone through or not, it dropped out during the order being processed !

Edit: Its back now and the order didn't go through.


----------



## glenn_r

Yeah I've had a couple when I've been scalping, one cost me and one went in my favour, bloody frustrating when it drops out.


----------



## Boggo

glenn_r said:


> Yeah I've had a couple when I've been scalping, one cost me and one went in my favour, bloody frustrating when it drops out.




Most of my dropouts have been when placing orders or amending stops, have you seen a pattern there glen ?


----------



## Boggo

Boggo said:


> Anyone else having problems with the real account dropping out, ie "No connection".
> 
> Happened a few times last week, I rang them up and they said they were having server issues, been off for about 10 mins now, cannot log in.
> 
> Not sure if my short on the NQ has gone through or not, it dropped out during the order being processed !
> 
> Edit: Its back now and the order didn't go through.




And this is the trade that could have been on the 15min NQ, went to the target, good example of why you need a reliable setup.

(click to expand)


----------



## arco

Boggo

We haven't experienced any drop out when ordering or amending.

Biggest problem has been the spread variation on Eur.Jpy

rgds -arco


----------



## glenn_r

I can't see any patterns, I put it down to the internet and/or their server.


----------



## >Apocalypto<

overall guys is it a yes or a no for Gomarkets MT4?


----------



## white_goodman

>Apocalypto< said:


> overall guys is it a yes or a no for Gomarkets MT4?




do they offer micros?


----------



## roonapa

So far for me they are a yes as they are better than some other brokers in Oz but they could do with a slightly narrower Eur/Jpy and 2pips on Gbp/Usd would be well received.
I trade mini contracts through them and i'm relatively new to Fx but learning all the time and if I see any blatantly dodgy prices then I will go elsewhere.


----------



## Nick29

Read pages 13-14 of the PDS for Gomarkets starting with "How are the funds I deposit with you held" before you trade with them.
Here is the Futures PDS: http://o.b5z.net/i/u/10015464/i/Futures_PDSVer_2_13-05-2008.pdf

I was under the impression futures accounts had to be segregated accounts.
Maybe that is for clearing participants only.

Other documents: http://www.gomarketsaus.com/legal_documentation


----------



## glenn_r

Nice spike on the Aussie today with GoMarkets MT4


----------



## Wysiwyg

I have that spine high at .64846. 

Everything else on the 5 minute chart looks in order.

*Looks like your chart spike  has been doctored, ie open/close at the top.*


----------



## arco

????

At what time - I cant find it on Live or demo. (unless its been rectified recently)

.


----------



## white_goodman

glenn_r said:


> Nice spike on the Aussie today with GoMarkets MT4




those are some hectic indicators, i do not understand any of it


----------



## glenn_r

I see City Index also shows the spike on their IT Finance tick charts.

White Dude,

I use multiple moving averages ( to show trend) with fibo points ( S & R) on the chart also the arrows show when the RSI crosses 45 or 55 and a double woody CCI in the lower panel 


I got a few of the ideas from this thread. 

http://www.forexfactory.com/showthread.php?t=114258


----------



## Boggo

arco said:


> .
> *How are people with live accounts going???*
> 
> *Anyone drawn any money back yet?*
> 
> rgds - arco




Sent them an email on Thursday to transfer some money out, its in my bank account today.

So far they seem easy to get on with.


----------



## jonleung

I've just opened an account with GO - haven't funded it yet. Had some tech problems with the port for their live server, and they seemed helpful.

To be honest, the main reason I went for them was that I like MT4 and they are the first (only?) Aussie broker offering it. I can fund in AUD, rather than send it offshore by wire and wait an extra few days for it to clear. Spreads look reasonable - not great but OK.

I expect to get started next week with live. Are they any good? Time will tell.

Has anyone noticed that the prices on the order tickets don't match the chart behind (both demo and live)? E.g. on AUD/USD the ticket says 32 / 36 but the chart behind has 32 / 35. Looks like they are spreading the price by 1 pip on the offer. When I looked on Currenex earlier in the day, the spread was 3 pips, so it sounds plausible. On gold it is more obvious. The ticket says 60 / 10 and the chart says 65 / 05 so they are adding a 5c spread either side. I know they need to make some money, but I'm surprised the platform doesn't make it look a bit more consistent.


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## Stormin_Norman

FXCM are saying theyll add MT4 soon too.

in the current climate picking your broker is important.

if im going to retail trade on mt4 i pretty much want it in oz.


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## custard73

kristyna said:


> Hi FX Traders,
> 
> I use to Forex- meta demo platform at the moment and loving it.
> 
> 1)Do any Aussie/broker use this Forex-Meta platform.?
> The reason I ask is that I would like to go on live, but would like to know if I use American broker with the Forex-meta companies, are advantage or disadvantage due to fact its far away.
> 
> 2)How does this affect the tax? How do I deal with the tax in Australia when I use a broker in USA?
> 
> Does anyone have any clue?  Please help.
> 
> I being trying to get answer for a while now but no one seem to know.
> 
> I just start joining the forum today, hoping to get answer!
> 
> Thanks,
> Kristyna





Hi Kristyna
Iam searching around the web on blogs and forums trying to educate myself with regard to trading the forex markets and inparticular using EA's on MT4.
I am looking for a mentor of sorts, someone to help with my understanding of these matters.
I emigrated here from the UK 18 months ago so my network of relationships of  friends & proffesionals is still growing. How have you been going since this thread began back in July '08 I think?
Thanks in anticipation of a reply
Karl


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## Stormin_Norman

youll find us a friendly mob, just join in discussions.

watch out for cartman . he's trouble.

and beware of wabbit. he made seem cute but he'll soon go straight for your neck. you might need the holy hand grenade for him.


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## wabbit

A Reading from the Book of Armaments, Chapter 4, Verses 16 to 20:

Then did he raise on high the Holy Hand Grenade of Antioch, saying, "Bless this, O Lord, that with it thou mayst blow thine enemies to tiny bits, in thy mercy." And the people did rejoice and did feast upon the lambs and toads and tree-sloths and fruit-bats and orangutans and breakfast cereals ... Now did the Lord say, "First thou pullest the Holy Pin. Then thou must count to three. Three shall be the number of the counting and the number of the counting shall be three. Four shalt thou not count, neither shalt thou count two, excepting that thou then proceedeth to three. Five is right out. Once the number three, being the number of the counting, be reached, then lobbest thou the Holy Hand Grenade in the direction of thine foe, who, being naughty in my sight, shall snuff it."


Sometimes it takes razor sharp fangs to the jugular to get some traders to realise that what they perceive as their foolproof trading system is in fact just as mythical as the vorpal Rabbit of Caerbannog itself!  Also, the EA that "just makes money" with no knowledge or effort is also just as mythical as the legendary Black Beast of Aaaaarrrrrrggghhh.


wabbit


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## Cartman

Stormin_Norman said:


> youll find us a friendly mob, just join in discussions.
> 
> watch out for cartman . he's trouble.
> 
> and beware of wabbit. he made seem cute but he'll soon go straight for your neck. you might need the holy hand grenade for him.




lol -----

u think im trouble --- u should meet my family :silly::jump::freak3:


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