Go Markets any good for forex?

[el caballo]

Stormin'

If it isn't impositional, can you let us know how go with this query once it is finalised? If it is, please ignore.

Thanks.

 

[Naked shorts]

i am truely flabbergasted at this.

Everything running smooth for me.

 

[stawned]

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.

You are kidding mate !
That is not On at all
Im sure you have cheacked the timings of the trades etc
Please keep us informed on what outcome after discussing with managament of gomarkets.
I hope it gets resolved ethically !

Chris thanks for answering the question before but there are still doubts on many of our minds and we hope you can continue to clarify
Traders of gomarkets-- please comment on this thread good and bad experiences of gomarkets so we can keep us all informed about the integrity of this broker.
This has become a very good thread overtime in discussing the pros/cons of gomarkets.



ps-- seeing a spread of 2.5pips on eur/usd now. volatility-is that why?

 

[stawned]

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.

so let me get this right-- gomarkets does not hedge or take oppossite postions to the clients- does it?
all trades are passed to the interbanks for execution?

thanks in advance for your answer

 

[Stormin_Norman]

Everything running smooth for me.

my graph gapped at around midday. which caused the EA to open a series of buy trades, i doubt would have occurred without the gap in data.

then those 3 trades showed up at random points over the course of the next 11 or so hours.

it will be interesting to see how, or if this is resolved.

 

[Naked shorts]

my graph gapped at around midday. which caused the EA to open a series of buy trades, i doubt would have occurred without the gap in data.

then those 3 trades showed up at random points over the course of the next 11 or so hours.

it will be interesting to see how, or if this is resolved.

Just check my graphs, no gaps on any of mine. Might it have anything to do with that live update?

Im only just installing it now.

 

[lasty]

There are certain types of interbank brokers who allow retail brokers access to their platforms.
Ok that sounds all very positive however certain interbank brokers offer a feature called "last Look".
"Last look" is whereby the pricemaker can accept or reject the trade.Personally I think that feature should be banned.
If a retail broker is using this type of platform to get their price feeds, then expect rejections for the end user ie you.

Like I have said previously spreads do count but liquidity is the essence.
Its no point offering the tightest spreads in the market and yet you cant hit the price.
Most retail punters should look at a platform that is solid,reliable and reflects the highs and lows of the interbank market.
FX trading is hard enough and using flakey platforms wont do yourself any favours.

 

[macca]

Hi Chris,

Thanks for replying to me, I am aware that to open an account with IB or some other ECN I need to commit to big dollars but ATM I am not prepared to do that.

I really do appreciate the fact that GO Markets offers everyone an opportunity to try out Forex at a nil cost with a demo or minimum entry trades on micro accounts.

I have had issues with the processing speed of trades but I have reinstalled my MT4 and found that has improved things. You might consider including that suggestion when punters complain about persistent slow processing.

I am currently running the upgrade, hopefully it is all OK.

Thanks for taking the time to respond on this thread, I think this will do Go Markets a lot more good than most advertising.

 

[el caballo]

my graph gapped at around midday. which caused the EA to open a series of buy trades, i doubt would have occurred without the gap in data.

then those 3 trades showed up at random points over the course of the next 11 or so hours.

it will be interesting to see how, or if this is resolved.

Any update yet?

 

[hyperseer]

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.

I agree with Chris' statement 100% - I've been comparing GO against 3 other brokers, 2 of which are from "true" ECNs with Currenex feeds and GO is at the most .5 of a pip away - a lot of the time it is exactly the same. And of course, as Chris pointed out, these guys require a 25k+ deposit, don't allow mini lots, and they charge commissions per million traded (which really makes the difference even less than .5 of a pip). Given all the garbage brokers out there, GO's a clear winner in my book!

 

[Stormin_Norman]

Any update yet?

waiting on a call back.

sorted easily and quickly. well; is meant to be. quite painless.

 

[el caballo]

Thanks Stormin'.

I'm extremely appreciative of Go's efforts at transparency on this forum. I have no account with them yet, and will continue to see how their service unveils over the next weeks and months. Please let us know when completely resolved.

 

[ISPIZ]

Good work Stormin, I have no doubt they arnt about ripping us of thats why I am still with them even with otu futures

 

[PR@GoMarkets]

so let me get this right-- gomarkets does not hedge or take oppossite postions to the clients- does it?
all trades are passed to the interbanks for execution?

thanks in advance for your answer

We pass all trades to hedging partners. It is up to them to hedge the positions however they see fit. Go Markets merely get a rebate based on trade volume.

 

[PR@GoMarkets]

why I am still with them even with otu futures

I am looking into this...

 

[jonleung]

I had a trade "disappear" when I checked at home last night. When I got to work this morning the trade has reached it's TP but failed to trigger, and when I tried to amend the TP or close the trade manually, I got errors such as "invalid parameter". I called Go and they reinstated the trade promptly.

Also, a week or two ago I had two stops trigger on a bad CAD tick and again Go re-instated them.

In general, spreads are very good. If you compare them to FXCM Aus, see which you prefer.

Yes, the platform instability is a concern, but at least they resolve the problems when they do occur.

 

[stawned]

We pass all trades to hedging partners. It is up to them to hedge the positions however they see fit. Go Markets merely get a rebate based on trade volume.

hi Chris

thank you very much for this answer
This clears a big doubt in my mind so far in regards to gomarkets having the possibility of making money only if their clients lose money.
Many brokers hedge against clients positions for this as a way to make money but if goamrkets are passing the trades on to hedging partners then gomarkets is acting very honest

By anychance chris are these hedging partners any way in control of gomarkets operations .

thanks once again for the clarification

 

[PR@GoMarkets]

hi Chris

thank you very much for this answer
This clears a big doubt in my mind so far in regards to gomarkets having the possibility of making money only if their clients lose money.
Many brokers hedge against clients positions for this as a way to make money but if goamrkets are passing the trades on to hedging partners then gomarkets is acting very honest

By anychance chris are these hedging partners any way in control of gomarkets operations .

thanks once again for the clarification

Our hedging partners are not in control of our operations. I am sure like many other brokers, hedging partners may make suggestions/requests for trading styles and allowances, but there are many companies that can take on the trades, so if a broker like us does not work well with a hedging partner, then we can always go elsewhere.

 

[lasty]

hi Chris

thank you very much for this answer
This clears a big doubt in my mind so far in regards to gomarkets having the possibility of making money only if their clients lose money.
Many brokers hedge against clients positions for this as a way to make money but if goamrkets are passing the trades on to hedging partners then gomarkets is acting very honest

By anychance chris are these hedging partners any way in control of gomarkets operations .

thanks once again for the clarification

Gomarkets will no doubt be passing their positions given to them by their clients directly through a wholesale platform whereby pricemakers are hit.
The question remains if the pricemaker moves the price and therefore the fill will reflect gomarkets clients.
Thats the risk with some of these wholesale platforms especially if they offer
"last look" which the pricemaker can reject the position.
It makes gomarkets look bad which really shouldnt be the case.
Any retail broker who uses the wholesale platform should reconsider as ultimately it will lose clients from frustration.

 

[stawned]

requotes upon requotes
both in entering trades and in exiting trades

getting annoying
why cant gomarkets be consistent. everyother day somebody here complaining of this same issue.
NICELY ON THE WEBSITE IT BOASTS : NO DEALER REQUOTES

chris what the hell is going on?

i hope you can shed light on this issue once and for all!