Go Markets any good for forex?

[>Apocalypto<]

lol and you think liquidity providers, who take the orders from these "true ECNs" brokers actually execute retails orders on the open market? Give me a break.

You have been sucked in by the ECN marketing hype.

true ECN is passed to the interbank. Gomarkets is not a ECN.

Naked go open an account with IB trade 50K - 100K+ lots size on Ideal Pro and then u come tell me if ECN is nothing more then marketing hype.

 

[Naked shorts]

Gomarkets is not a ECN.

I never said, nor implied that Gomarkets is an ECN broker.

Naked go open an account with IB trade 50K - 100K+ lots size on Ideal Pro and then u come tell me if ECN is nothing more then marketing hype.

Where on the IB IdealPro site does it have "TRUE ECN!!!!" all over it? It doesn't. But there are loads of bordering illegal brokers, advertising themselves as "TRUE ECN!!!" who just pass the orders onto another market maker.

I say it is marketing hype because that's what it is.

 

[stawned]

I never said, nor implied that Gomarkets is an ECN broker.



Where on the IB IdealPro site does it have "TRUE ECN!!!!" all over it? It doesn't. But there are loads of bordering illegal brokers, advertising themselves as "TRUE ECN!!!" who just pass the orders onto another market maker.

I say it is marketing hype because that's what it is.

ok - the discussion is not about ECN marketing hype but what does gomarkets classify itself as
The reason i would ask this is because depending on the classification , a broker could have different agenda towards its clients.
As well as different ways of making money from the clients ( not only from the spread) as explained in my examples before.

 

[ISPIZ]

Some great points to looking forward to seeing the answers.
Any word on futures/cfds Chris, I know it hasnt been that long but no harm in asking.

 

[ISPIZ]

O and I dont think I saw a reply to the interest free accounts are they up and running yet.

 

[ISPIZ]

Gee she dropping out alot this morning.

 

[Stormin_Norman]

yep. terrible service this morning.

i just had something weird happen where positions either got combined or lost totally.

i have marks for positions that were taken, but on the account history and open trades, theyre not there.

hugely unimpressed.

 

[ISPIZ]

They must be doing some rewiring.

 

[Trembling Hand]

Where on the IB IdealPro site does it have "TRUE ECN!!!!" all over it? It doesn't.

Here,

 

[ISPIZ]

Hows the 1/2 in the pic lol havent the ol septics heard of decimal places.

 

[Naked shorts]

Ok TH.

Compare that to this
http://fastbrokersfx.com/fx/integralfeed.php


This broker doesn't allow you to execute on the interbank ECN, but it sure makes it seem that way.

An ECN can just be any network where trading is facilitated. If a broker offers "ECN" trading, that doesn't mean they are putting your orders through to the Interbank ECN.

 

[macca]

HI TH,

Lets not be picky here

A half a pip spread when the market is closed ?????????????????
I dream of 1 pip spreads ...........

I really am a sad case of FXitis

One day, one day !! I shall be ready to trade at the level that IB requires to get spreads like that

(I Hope )

 

[Trembling Hand]

Ok TH.

An ECN can just be any network where trading is facilitated. If a broker offers "ECN" trading, that doesn't mean they are putting your orders through to the Interbank ECN.

It makes a fundamental difference to the profitability of your system (short term ones) to execute trades into a real market rather trade off just Bid/Ask prices. it would seem that 95% of people here haven't a friggin clue about. But that's not surprising

Probably the same 95% that end up in the you know what group

 

[PR@GoMarkets]

PR@gomarkets

can you please also comment on complaints on this webpage of this website:

http://www.forexpeacearmy.com/public/review/www.gomarketsaus.com?page=3

please comment on the negetive remarks.

i hope you can help clarify and clear doubts in some of our minds

thank you

When I went to this link it did not show many reviews, so I am not sure which one you mean. Forex Peace Army has a lot of accurate reviews, a lot of totally innacurate reviews and some out and out fabrications (much like many forums I suppose).

Let me just say this, we do not take away any genuine profitable trades. As has been mentioned before, we revers trades which occur based on innaccurate prices, so if there is a huge spike it is reversed. And not only in our way, many clients have had trades reversed because they may have lost out due to fat-finger syndrom or some other such feed error.

Every broker has ridiculous accusations thrown at them from time to time, and FPA is one of the worst for that.

 

[PR@GoMarkets]

ok - the discussion is not about ECN marketing hype but what does gomarkets classify itself as
The reason i would ask this is because depending on the classification , a broker could have different agenda towards its clients.
As well as different ways of making money from the clients ( not only from the spread) as explained in my examples before.

Let me clear this up once and for all... We are a non dealing desk straight through processing broker.

We are not and have never claimed to be an ECN, hence why we can give micro lots etc. Whilst we get our price feed from interbank sources, we are still an OTC provider.

There are many ways to make money as a broker, but we use an honest method of simply passing on all trades and getting rebates based on the spread.

 

[PR@GoMarkets]

yep. terrible service this morning.

i just had something weird happen where positions either got combined or lost totally.

i have marks for positions that were taken, but on the account history and open trades, theyre not there.

hugely unimpressed.

There was a period of around 10-15 minutes where trades were invisible, but all are now correct. If your account does not seem accurate, please contatc us.

As always, we rectify clients if there is any negative action on the account.

It was not repeatedly out at our end, but only the once for this period.

 

[PR@GoMarkets]

HI TH,

Lets not be picky here

A half a pip spread when the market is closed ?????????????????
I dream of 1 pip spreads ...........

I really am a sad case of FXitis

One day, one day !! I shall be ready to trade at the level that IB requires to get spreads like that

(I Hope )

Let me give my 2 cents worth on ECNs, and hopefully my last post of the day after having to answer a million questions!!

They are great if you have the money, usually around 20-50k, but not everyone has that kind of cash to throw around.

And yes spreads can get very low, as they come direct from the banks (in most cases)but there will usually be a commission fee or additional spread markup as this is how the broker makes profit. Of course you can normally only trade in whole lots, and in some cases larger sizes. Many brokers would only make a small fee per trade but they base it on the fact that clients with big money will do lots of trading.

We try to give spreads as close to an ECN as possible and give the perks of OTC trading like small lot sizes and no minimum account balance.

Have a good night guys,
Chris

 

[roonapa]

Cheers Chris,
nice to have you answer questions promptly.
my account is all fixed up now, say thanks to the guys for getting that done quickly and apologise if i gave you crew a hard time, im really very happy with how you guys handle things.
Im still in london but will be in melbourne next week on Biz so can i ask if Go are going to do more seminars soon?

 

[Stormin_Norman]

yep. terrible service this morning.

i just had something weird happen where positions either got combined or lost totally.

i have marks for positions that were taken, but on the account history and open trades, theyre not there.

hugely unimpressed.

WTF!!!??

the trades that disappeared earlier today have reappeared.

REALLY annoyed. how the hell can this happen?!

they were not appearing on my system for 6+ hours. then all of a sudden reappear hours later in massive drawdown.

it was 3 different buys each on 3 different accounts, each of which re-appeared at different times.

i will be calling tomorrow. let you all know of the result.

i am truely flabbergasted at this.

 

[Stormin_Norman]

There was a period of around 10-15 minutes where trades were invisible, but all are now correct. If your account does not seem accurate, please contatc us.

As always, we rectify clients if there is any negative action on the account.

It was not repeatedly out at our end, but only the once for this period.

i will take you up on this.