Aussie Broker using ForexMeta Platform & FX Tax?

[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.

 

[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?

 

[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

 

[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

 

[el caballo]

All,

How is Go Markets going - any updates appreciated.

 

[arco]

el caballo

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

rgds - arco

 

[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.

 

[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

 

[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.

 

[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.

 

[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

 

[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

 

[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

 

[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

 

[glenn_r]

auric,

The margin on the SPI .10 contract is $283.30

Thanks for the DDE settings for AB

 

[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

 

[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

 

[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....

 

[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

 

[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