Go Markets any good for forex?

[ISPIZ]

Thanks Chris,
This leads me to a question I have asked before in a round bout way.
I just want to get this straight in my mind and Im sure there would be a few others aswell, please tell me if this is correct (anyone else that knows please chip in aswell). So Currenex is the price feed provider only that supplies you guys data which you put your brokerage on top and then pass the prices to us which we see on your platform.
When we place a order it goes to you and your system checks to see if the price requested is available from currenex if so it goes through if not either invalid price or requote comes up. Is that correct.

 

[SlideLow]

Here's proof ... sorry im not good with this picture posting thing. Screen shot taken simultaneously just a few mins ago ...

I need an answer today or im done with this BS ..

So stawned what was the explanation for this as this got me thinking because yesterday you said that your spread was 2.5 and i found mine to 2. Interesting

Don't get me wrong 2pip isn't bad on eurusd during asian session it's just the fact that it's fixed at two dif level for two dif people.

Sorry im just curious.

 

[stawned]

Thats whats worrying mate ... Right now as i write this ive got 2.5 pip spread - and i guarantee u have 1.5 pips (coz that what my mate has right now)...

I wasnt able to follow it up today as ive been extremely busy with other things. But i will definetly keep you informed.

It definetly looks like im being targeted and they have manually manipulated my price compared to everyone elses!

Will keep you guys on the loop!

Laters

PS: Sad to see this, especially from GO - but reallity is, they are still a market maker!

 

[PR@GoMarkets]

Guys, I am happy to post occasional updates and answer general questions, but unfortunately this thread has become littered with negative comments about the service from very few clients or demo clients. I don't know how many times we have to defend ourselves, but our legal documentation clearly states that we pass all of our trades onto a 3rd party without exception. We do not have a dealing desk and do not participate in price manipulation. If anyone sees errors on their trading account or prices seem innacurate then contacting us directly is the only way to look into these enquiries. Sometimes problems do occur on the system and we need to fix them, but we can only do this if we know who people are.
I would like to stress that we have thousands of satisfied customers and many testimonials so if a few really are not happy then there is not much else to say than perhaps an alternative provider may be best, as it really is not in our interest to spend our time dealing with a handful of serial complainers. It seems likely to me that most people who move between brokers on a regular basis are rarely satisfied.

Stawned if you are seeing issues on your account (if you have a live account), you must call us, but to be honest looking at all your posts I don't know if you will ever be happy trading. I also find it funny that you didnt immediately contact us instead you post on a forum? Let me address one point, even if your account is strangely seeing a widened spread for some reason, that is not price manipulation and does not a bucket shop make. Price manipulation is where the price is deliberatley moved whilst you are trying to enter or exit a position. If you see a wider spread, then that is the price you are offered, it is up to the client to take it or reject it.

Just to reiterate we love to receive feedback (both positive and negative) and have seen huge growth over the last year but we will not please everyone all of the time so you must weigh up what you want to get from a provider. We gave you instant execution which caused system requotes for a few clients due to connectivity. We gave you market execution but that caused occasional slippage (and yes, there were even amounts of positive slippage, but that goes unmentioned). I know the few clients who have gripes are scalpers as they only look for a couple of pips at a time, but try and scalp through some providers and they will close your account.
With regards to Currenex we acknowledge that there appears to be a minor spread issue and that some Currenex pairs have widened over the past day or so. This is affecting other providers as well and a solution is being looked at. I would also like to stress that the prices are still 100% accurate.

 

[beamstas]

Let me address one point, even if your account is strangely seeing a widened spread for some reason, that is not price manipulation and does not a bucket shop make. Price manipulation is where the price is deliberatley moved whilst you are trying to enter or exit a position. If you see a wider spread, then that is the price you are offered, it is up to the client to take it or reject it.

Chris, what happens when you already have a position open?
Obviously the client can't reject the quoted price if they wish to close.

I do find it weird that different people are seeing different spreads, but i doubt anything is fishy. Unless stawned is turning over alot of volume then what advantage would it be to Go Markets to widen the spread from 1.5pips to 2.5? If they wanted to grab extra money from having a wider spread wouldn't they just have a 2 pip spread on for everyone?

It definetly looks like im being targeted

No they are not targetting you, why would they target you? I fail to see how such a large company with a good reputation and alot of clients would put their reputation at risk by widening the spread of an unknown fx trader by 1 pip. I mean c'mon

 

[PR@GoMarkets]

Chris, what happens when you already have a position open?
Obviously the client can't reject the quoted price if they wish to close.

Well, what I mean is that we do not manipulate prices but if a client thinks the spreads is too wide, perhaps because of liquidity, then they can see that and decide not to trade. If the spread widens whilst ina trade, that is just down to market. As I said above we don't manipulate prices - we pass everything on.

 

[PR@GoMarkets]

So Currenex is the price feed provider only that supplies you guys data which you put your brokerage on top and then pass the prices to us which we see on your platform.
When we place a order it goes to you and your system checks to see if the price requested is available from currenex if so it goes through if not either invalid price or requote comes up. Is that correct.

The first half is right, the second not quite. Currenex is the feed provider and like you say we put the spread/brokerage on top and give you guys the pricing.

When you click to do a trade it goes straight through us to hedging partners. It is then up to them to place it into the market, or match it against other positions, or whatever they do - its not my area! The only time requotes appear is the system generated ones which are down to the connection to the server, it is nothing to do with whether that price is there or not.

 

[SlideLow]

I would like to apologizes to Chris, and GO as i do not mean to attack go directly or indirectly via other peoples issues.

However i do find i stawned's case quite interesting as to how this possible if we are all receiving the same feed, and there is no possible way to change certain settings on particulate accounts. Assuming that stawned's is on a live account and not a demo if he is, then he must be one of those legally special(retarded) people.

Also Chris, GO PR staff you do have to agree that if there is no possible way to change a person account spread settings then this is interesting.

I'm not calling you guy a bucketshop as i do have a live acc with you guys and i gota say that most of the times i am rather happy with the service that you guys provide. Unfortunately it is the odd instance that you do have an outage it is usually devastating enough to upset substantially. You guys did mention your working on it so looking forward.


Also this pic is interesting and does raise a few questions about brokers in general. GO any comments?

 

[PR@GoMarkets]

I would like to apologizes to Chris, and GO as i do not mean to attack go directly or indirectly via other peoples issues.


Also this pic is interesting and does raise a few questions about brokers in general. GO any comments?

Thanks for the apology, but it is not really required!

As for the Boston tech thing, I have seen this before, and if you go through the almost 40 pages of this thread you may see it mentioned I am sure.

We have no affiliation with Boston Technologies and do not use the Virtual Dealer Plugin, or any such plugin. There are a number of companies who use Boston Tech for their MT4, but we are not one of them.

 

[Qed]

evening all .. I would be interested in recieving screen shots of candles of any trades ,, I have pictorial screen shots of different candles ,same time same , stock , differrent accounts , not saying its GM but when i complained they BLAMED DIAL UP .. ,,just goes to prove if u dont know how to play the bookies u shouldnt play the game

 

[stawned]

I would like to apologizes to Chris, and GO as i do not mean to attack go directly or indirectly via other peoples issues.

However i do find i stawned's case quite interesting as to how this possible if we are all receiving the same feed, and there is no possible way to change certain settings on particulate accounts. Assuming that stawned's is on a live account and not a demo if he is, then he must be one of those legally special(retarded) people.

Also Chris, GO PR staff you do have to agree that if there is no possible way to change a person account spread settings then this is interesting.

I'm not calling you guy a bucketshop as i do have a live acc with you guys ............

Hi SlideLow,

Firstly, let me mention on this forum, that i am NOT here to diss GoMarkets at all. Infact there are far worse brokers i have had experience with in my last 4 years of trading.

As the topic of this forum goes "Go Markets any good for forex?" i am here to post my personal experiences with them so far. Now if i were on a DEMO account why would i care to even post here! I can assure you that i am DEFINETLY on a LIVE platform. INFACT, go look at those screen shots i;ve posted - do they say DEMO anywhere on the header of the platform?? Open a Demo account yourself, and it will say "DEMO" on the very top - mine doesnt. So there you go - proof that i am on a LIVE account. I hope that clears my "retardness" level. lol.

If any of you want further proof, here is the latest MAILBOX notice i received in my mt4 platform:

Dear Client,

Please note you may on some occasion be seeing some spreads different to that which you would normally see. This is a minor problem coming through directly from our FX feed provider. It is being dealt with, but we would like to stress that all prices are still 100% accurate and reflective of the market at any time and should not upset your trading in anyway.

Regards,
Go Markets

Now, im guessing DEMO users dont get that customer service privelege.

So, i hope that clears me off any doubts of my LIVE STATUS.

Anyway, look guys i am here clearly to share my experiences with you all. Im not part of any other brokerage firm, or whatever other silly excuses you all have. As ive mentioned earlier i have accounts with various other brokers. If i dont get what i am looking for in one broker, i use the other better option during that particular period - as was the case with yesterday's ridiculous spreads. Today, i can say it has improved, but its still on the "wide" side for Euro/Usd. i.e. as i write this, i have a spread flucuating between 2 to 2.5 pips.

As my screenshot shows yesterday, i had over 3.5 pip spread ... and no one else had anything close to mine - hence i went off, saying "why am i targetted"? Maybe im not, and i was over-reacting - but there was DEFINETLY something not right - as you all witnessed. Im sure none of you had over 3 pips of spread all day (atleast i confirmed with 2 other people and they didnt for sure!). And you can see how much the Euro dropped, there definetly was no LIQUIDITY issues round the world.

Anyway, like i said, im going to be posting my TRUE trading experience with GO on this forum, as that's what this thread is for! There is absolutely no point for me to lie.

More updates soon

PS: No hard feelings to you chris - but at the end of the day, i have PART of my funds invested with your company. So my experiences do count.

 

[stawned]

No they are not targetting you, why would they target you? I fail to see how such a large company with a good reputation and alot of clients would put their reputation at risk by widening the spread of an unknown fx trader by 1 pip. I mean c'mon

LOL, you'll be surprised what brokers are capable of doing ... If you've been in the game long enough, you would know!

Cheers.

 

[Trembling Hand]

LOL, you'll be surprised what brokers are capable of doing ... If you've been in the game long enough, you would know!

Cheers.

Actually I think I've played around enough with them to see that most complaints come from people who need someone else to blame for there **** entries and poorly stopped out trades.

I said 3 months ago that Go was going to have trouble from poor punters going to variable spreads. crap traders chasing moving markets & spreads. Recipe for disaster, misunderstanding & complaints. Connectivity problems aside.

This forum has a bit of a tradition of proving claims or shutting up. It seems very dodgy that complaints are aired here yet Chris doesn't seem to know who you are. surely you should be getting on the phone and asking them

I traded Go for a couple of weeks made about 6 calls reckon I spoke to Chris half the time. Why don't you call them directly??????

 

[stawned]

Actually I think I've played around enough with them to see that most complaints come from people who need someone else to blame for there **** entries and poorly stopped out trades.

I said 3 months ago that Go was going to have trouble from poor punters going to variable spreads. crap traders chasing moving markets & spreads. Recipe for disaster, misunderstanding & complaints. Connectivity problems aside.

This forum has a bit of a tradition of proving claims or shutting up. It seems very dodgy that complaints are aired here yet Chris doesn't seem to know who you are. surely you should be getting on the phone and asking them

I traded Go for a couple of weeks made about 6 calls reckon I spoke to Chris half the time. Why don't you call them directly??????

Trembling Hand,

As ive mentioned before, i post MY EXPERIENCES with them here - for everyone else to know whats going on. People who DONT complain about "****" entries and "poorly" stopped out trades probably have no problem loosing a few pips here and there, beacuse they are probably swing traders and looking for 100-200 pip or more profit/loss targets. Im not a swing trader - even half a pip matters to me. Thats just my trading - makes me no less of a trader!

I love the way you ASSUME i am a crap trader, when you have absolutely no clue as to my trading background. I dont wont to be rude, so i wont comment any further on that.

I've called GoMarkets about 6 times in the last 3 weeks. And all i get is the same ol answers .. check ur connection, no we do not do requotes, no this, no that, server problems for now, sorry etc. ... basically THERE IS NEVER A SOLUTION - I just have to DEAL with it (Luckily i have never had to call to close any positions yet - but lot of people here have had to, and they have honoured their original positions, which is good for them).
So dont get on my back about calling them; i have - im not dumb, afterall i DO have my hard earned money with them. The only time i havent called them was yesterday, and that was because i was NOT trading during yesterday's business hours. I was extremely busy, but still had a chance to open the platform to see what was going on .. took a few screenshots for "proof", otherwise i would b called a "liar" or i am representing "the opposition" - lol. I ended up trading late at night on other 2 platforms. Still made my daily target

So the issue here is not, to move on, but to clearly REVIEW this broker with MY experiences. Thats what the thread is here for anyway!

Today as ive mentioned, ive not had any issues apart from usual re-quotes and the spread being non-ECN like ie. 2 - 2.5 pips (which they have stated they are working on).

Lets see where this journey takes us

 

[Trembling Hand]

People who DONT complain about "****" entries and "poorly" stopped out trades probably have no problem loosing a few pips here and there, beacuse they are probably swing traders and looking for 100-200 pip or more profit/loss targets. Im not a swing trader - even half a pip matters to me. Thats just my trading - makes me no less of a trader!

If half a pip matters to your expectancy you are lost as to what type of platform you need.

A scalper wouldn't touch these types of trades and "brokers".

 

[fx.wizzard]

ive got 2.5 pips spread on eur/usd right now

is that meant to be right?

 

[Stormin_Norman]

ive got 2.5 pips spread on eur/usd right now

is that meant to be right?

according to go markets its right.

 

[fx.wizzard]

being new with gomarkets it is good to have a forum like this from other users to share their experiences. Thank you everyone and i hope the issues get sorted out by gomarkets.

on a side note i noticed as i was fiddling around the parameters on the gomarkets mt4 platform that in the volume , the maximum number of lots allowed to trade are 10standard lots . Not that i trade that much but its interesting to know that gomarkets have capped the number of maximum lots just to 10standard.
Ive never seen any other broker cap it to such a level.

 

[fx.wizzard]

according to go markets its right.

ok thanks Stormin. I just find it a bit strange to have it relatively that high. I hope its not always like this wide.
i Have opened an account with gomarkets because of 2 main reasons. One being in australia and second i was under the impression that spreads would be very low as advertised on website. I hope this is just temporary.

 

[professor_frink]

Feel free to ignore fx.wizzard's comments(not that there will be anymore coming now), turns out stawned wasn't happy just complaining about go with the one username, he thought that a 2nd was required to try and carry on with it. Nothing like an army of unhappy customers....at the one computer!