Go Markets any good for forex?

[hyperseer]

hyperseer the name of the thread is "Go Markets any good for forex?"
If you dont want to get both sides of the coin may i suggest you dont read the thread hows that sound.

Actually, I specifically visit the thread to read the negative comments to see if there are any LEGITIMATE issues with Go, and how they respond to them. From what I have seen, there aren't any legitimate issues as the only complaints seem to be coming from a couple of people pointing the finger outwards, when they should clearly be pointing it at themselves.

How about you post your comments or complaints once instead of repeating it over and over again even after it has been answered, wasting people's time and server space. How does that sound?

 

[>Apocalypto<]

lol--still the same
cant wait for the new implentations- i hope they are worth it

I think the best thing for u to do is get a new internet provider!

 

[>Apocalypto<]

Cheers Chris thanks for the fast reply are you guys on the ESP feed from them.
Hey any time frame on the other goodies coming online.

Who the F@#K made u the forum police???

 

[supermatt]

lol

 

[Stormin_Norman]

the two reasons im with go are

1. insurance/aust regulations
2. fantastic dispute resolution

those two things are undervalued for the same of a part of a pip in spread or an occasional slippage of a few pips.

 

[stawned]

Funny you mention that...

I have just been in a meeting with the 'powers that be' and I brought up what I have been hearing on the forums regarding requotes for some clients. It was mentioned that offering market execution would be the best possible solution. It would seem to be industry standard with major MT4 and providers reflecting the wholesale market often using market execution.

It hardly makes any difference, but it would alleviate and system generated requotes. Is that something that you guys would welcome having had the opportunity to roadtest both trading styles?

We are happy either way...

Past experience with market executions was WORSE than isntant execution. Atleast with instant execution you can CHOOSE not to accept a quoted price - on market exution that was on trial earlier with GO was horrible, in which, once you click on a price you get filled (and cant cancel regardless of the movement of the price) and hence get slipped, often by too many pips, depending on the pair.

My vote is still with INSTANT execution - Lets wait and see the new implementation (upgrade of servers) work out on the requotes.

Thanks for ur replies.

 

[ISPIZ]

How on earth does that comment make me the forum police.

Yeah 2 strong reasons to still be with them Stormin.

 

[macca]

Hi,

I vote for what we have now and wait for upgrade.

Market execution allows MUCH too much slippage.

 

[lasty]

the two reasons im with go are

1. insurance/aust regulations
2. fantastic dispute resolution

those two things are undervalued for the same of a part of a pip in spread or an occasional slippage of a few pips.

Hi Stormin,

I will be interested to see those points you have raised being applied.
My undertsanding is that ASIC issue a license for the retail FX providers to operate here in Australia which no doubt PI insurance is compulsory.

Disputing a trade,price,system failure etc is however a different story.
Im not aware of any place where a dispute can be resolved accept in a court of law.

 

[Stormin_Norman]

Hi Stormin,

I will be interested to see those points you have raised being applied.
My undertsanding is that ASIC issue a license for the retail FX providers to operate here in Australia which no doubt PI insurance is compulsory.

Disputing a trade,price,system failure etc is however a different story.
Im not aware of any place where a dispute can be resolved accept in a court of law.

1. i asked, and was sent their insurance policy which covers clients' funds (up to $2mil if i remember correctly).

2, i have had 2 or 3 different issues often involving a couple of trades. they have been cleared up by chris immediately with minimal drama. other brokers require far more hoop jumping and it can be weeks before your complain is heard (rejected).

 

[lasty]

1. i asked, and was sent their insurance policy which covers clients' funds (up to $2mil if i remember correctly).

2, i have had 2 or 3 different issues often involving a couple of trades. they have been cleared up by chris immediately with minimal drama. other brokers require far more hoop jumping and it can be weeks before your complain is heard (rejected).

Excellent.

Yes having a local presence sure does make it easy for disputes.

 

[Senaka]

Go Markets is Insane.. Metatrader is down for over 2 hrs now.. Still not working
Called twice.. Explanation : " Fire alarm went off and MT4 platform will be back in 10 min.. "
This is ridiculous... have a back up plan during times like these .. for F sake.

 

[PR@GoMarkets]

There was an interruption in service this morning caused by a fire alarm at our server host.

Of course in this time we are, as all brokers can, able to take trades over the phone. We all know that technology is never 100% perfect, but as I say, if there is ever a need for a trade, we can take it over the phone.

 

[Stormin_Norman]

shouldnt your company have a back up service provider?

i do due diligence and have a back up service provider for when mine goes down; but it kinda is for nothing if my broker is reliant on a single operator for its connection.

a similar issue happened with the switch to variable rates where the only service provider had a problem shutting the whole system down.

can you advise if you are looking into having a backup internet service provider?

or at least advice where i would stand as a customer if your service went down while i had many trades open and my robots couldnt access the trades?

 

[wabbit]

Go Markets is Insane.. Metatrader is down for over 2 hrs now.. Still not working
Called twice.. Explanation : " Fire alarm went off and MT4 platform will be back in 10 min.. "
This is ridiculous... have a back up plan during times like these .. for F sake.

Where was YOUR back up plan?

When I saw GO was down this morning, I calmly logged into my backup account with another broker. No need to get upset or make phone calls; just take the appropriate actions yourself.


wabbit

 

[Senaka]

There was an interruption in service this morning caused by a fire alarm at our server host.

Of course in this time we are, as all brokers can, able to take trades over the phone. We all know that technology is never 100% perfect, but as I say, if there is ever a need for a trade, we can take it over the phone.

This is a terrible excuse. I'm running FXDD, GCI , Go Market and IBFX Mt4 terminals 24/5. All other terminals are extremely reliable with very low or no downtime at all. But with Gomarkets MT4 , I get at least two interruptions a day. Even as I write this post Go Markets is down but all other three are up and running as it should be..

If you guys cant afford a better host or internet service provider, I will pay for one to host your server. This is absolutely ridiculous and very unprofessional.

Please don't give lame excuses such as fire alarms and hosting issues. It's not our problem and you must have back up plans for such easily avoidable technical issues. As customers of your company least we expect is to match the service what other MT4 brokers offer.

I'm seriously considering closing my account with Go Markets .

 

[Stormin_Norman]

Where was YOUR back up plan?

When I saw GO was down this morning, I calmly logged into my backup account with another broker. No need to get upset or make phone calls; just take the appropriate actions yourself.


wabbit

that's fine if the problem occurs before you start the traders up.

but what if theyre part way through managing trades to have the broker drop out?

my computer will switch to back up internet connection automatically; but that's no good if its on the broker's side.

not having a backup system when dealing with millions of dollars worth of customer's trades a day is very poor.

it should be one of the primary concerns in your risk mitigation system; losing your primary service provider.

 

[Senaka]

Where was YOUR back up plan?

When I saw GO was down this morning, I calmly logged into my backup account with another broker. No need to get upset or make phone calls; just take the appropriate actions yourself.


wabbit

Mate .. You probably love swallowing all the crap coming out of your brokers mouth. But I'm not. Specially when GoMarkets servers are not as half as reliable as my other three brokers with easily avoidable technical issues caused by fire alarms.
2 hr downtime on a Monday morning..LOL..

 

[PR@GoMarkets]

We do of course have backups in place, we are not running on one connection, which would be ridiculous. We use a hosting company that I have visited personally which has numerous backups both for fibreoptic ISPs and for power.

Yes, our platform was down this morning, whilst others were up, but there are times when ours is running and others are not - I have seen forum posts where that is said. No broker is guaranteed online 100% of the time, as there is always a risk with technology, and I have seen much worse occasions than this. From personal experience I have seen NAB go offline Australia wide for a number of hours, and I have heard that IG lost access not only to their trading platform but also to their phone system.

We have taken delivery of 3 new trading servers which are currnetly being configured. These will help to improve reliability and also connection speed, as previously mentioned, and should be up and running shortly.

It is worth noting of course that, if the server is down, we can be contacted by phone to give prices, or close positions etc. We do not leave clients stranded and of course are always striving to improve the systems.

 

[SlideLow]

a similar issue happened with the switch to variable rates where the only service provider had a problem shutting the whole system down.

can you advise if you are looking into having a backup internet service provider?

or at least advice where i would stand as a customer if your service went down while i had many trades open and my robots couldnt access the trades?

Hay Chris,

You didn't really answer Stormin's question on EA. What is GO's position on an EA that should of exited a loosing trade or wining but couldn't due your sever been down?

Will the funds be crediting into the account if it's a winning trade or vice verse if it a loosing.

All of this is amusing the bot has it own SL and TP and they where not in the order.