Australian (ASX) Stock Market Forum

Go Markets any good for forex?

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macca said:
Last post on this topic, would have edited my other post if possible but just now at 7.15 pm 5 pip slippage when closing a trade when the market is quiet is ridiculous.

I have received this email from Go so I will be letting them know my thoughts.

I should add that I am pleased that they accept that there is a problem and are looking at it, well done Go Markets !!
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Any more opinions to which was better, market (current) vs instant execution? Overall I am having an excellent experience with GO but my impression was that the previous instant execution was better, it just means the EA needs to consider requotes which is quite easy to do. While my EAs are still executing well I feel that the instant method gave better prices (admittedly I have absolutely no data to back that up yet).

For an example of a poorly executed market orders, just try out the new FXCM MT4 account, while they promote "no requotes" the filled orders are often woefully away from the requested order. I am considering moving to limit orders for that platform if I can get it to work. the performance of my FXCM account vs other such as GO is woeful (all running the same systems).
 
dasmith1973 said:
Any more opinions to which was better, market (current) vs instant execution? Overall I am having an excellent experience with GO but my impression was that the previous instant execution was better, it just means the EA needs to consider requotes which is quite easy to do. While my EAs are still executing well I feel that the instant method gave better prices (admittedly I have absolutely no data to back that up yet).

For an example of a poorly executed market orders, just try out the new FXCM MT4 account, while they promote "no requotes" the filled orders are often woefully away from the requested order. I am considering moving to limit orders for that platform if I can get it to work. the performance of my FXCM account vs other such as GO is woeful (all running the same systems).
Click to expand...

What you need to look at is true direct market access (DMA).
Now to have access to this I believe you will need at least 50k (in some cases more) in the account and trade often.
That is the privilege.
 
thanks lasty, understand that, I haven't tried true ECN yet (& don't quite have 50K!!). Just wanted a comment specifically from other GoMarkets MT4 users as they have asked for feedback on recent performance since changing to market order.

From my point of view GoM provide sufficiently good performance to stay with them.
 
Hi,

Just spoke to Chris at Go, more news to come today.

It suddenly occurred to me today that when I was using "instant execution" I had allowed a maximum deviation in price of 3 pips in that little box on the order pop up.

When we went to 5 digits I should have changed that to 30, I have since had to add 0's to all my other scripts etc but because it was so new I just never thought of that little order box needing another 0.

Chris is looking at adding this info to the news today, hopefully this will solve the problems.
 
Hi,

It is now official, back to instant execution at Go Markets from Monday.

With a reminder to make some allowance using the Maximum Deviation Box if necessary, when making the allowance remember 10 pippettes is only 1 "old pip" so for a 2 pip MA enter 20 in the box

High hopes for this :)
 
Yeah the fello I spoke to said the order system is going back to requote on Monday, I was thinking about this the only real prob I can see is if they have there tolerance set to tight and the requotes will be far to often, we will see.
The other thing about this is that the orders obviously were slow at times so if the orders are still slow at times they are defenatly going to get requoted so wouldnt it be better to fix the platform speed rather than requote etc.
Doesnt that make more sense or is that just me.
K
 
you have to remember that the company are not a charity.

if you are trying to trade in a quick market, you cant expect the price the second you click your mouse to be filled. money isnt given away for nothing...
 
Trembling Hand said:
I can see some complaints coming over the next couple of weeks/months. People without any execution skills trading "@ market" chasing variable spreads. Frequent traders equity curve will soon show that just being right about a chart is only about 30% of the game. Chopped to bits. :(

How do you go long go markets?? :D
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I'm not surprised about everyone's problems. If anyone actually hits "@ market" into the real market which happens on servers in Europe and the States you would soon see that you just cannot trade that way. As I was pointing out back in April.

Funny that Go has to fix traders problems
 
Trembling Hand said:
I'm not surprised about everyone's problems. If anyone actually hits "@ market" into the real market which happens on servers in Europe and the States you would soon see that you just cannot trade that way. As I was pointing out back in April.

Funny that Go has to fix traders problems
Click to expand...

Completely agree, while broker execution may be part of the problem, if your system overall doesn't work well, guess who has to change!

I personally didn't mind the requotes, so far its not that frequent & it means you don't get filled at a worse price & should pass on the trade anyway. Its not hard to program around requotes anyway.
 
The point of all this is why are some of the orders taking so long to go through, it was a big enough prob for them to change the way the order goes through so another words they recog that it is a problem. I dont mind the requote would much prefer that than entry at no matter what price thats for sure.
I have a account with a UK mt4 mob and they actually offer 2 diff accounts one requote and one straight through entries so you have the choice but there orders were quick and when you pressed the button the ticket went through very quickly all the time and that my friends is the whole point of what I have been saying got nothing to do with wether you can trade or wash the car the point is the tickets are taking to long to go through well they were havent traded this week as yet.
K
 
Fair enough IsPiz, I didn't realise that. I haven't had that problem at all, I only trade using EAs via a VPS with no issues.
 
Yeah no worries Das, that has been the prob for sure orders taking along time to go through and some ppl having slippage of up to 5 pips pretty savage stuff, I do alot of scalping so I see it every day.
As i said requote will be better than slippage so all good.
K
 
Hey Stawned,
I see varible spreads, well I have done a few trades and still the same prob with the delay in going through but no requote as yet which is good not sure if the price hadnt moved much or there tolerance is set to a pretty big deviation, we have had soem good movement to so the prices would have been moving around.
See what happens.
K
 
Prices seem to be varying ok, and speed seems to be ok for me , im using a hotel wireless in hong kong and speed of execution is excellant , much better than when im in oz.
im away for a few weeks so will update on service and speed whilst im away.
 

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