Australian (ASX) Stock Market Forum

Go Markets any good for forex?

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ISPIZ said:
Well for starters they are Australian I have been dealing with them for along time and they have always done right by me, funds to me are alot safer than say in UK or US. I have longer term positions in place where i cant really and dont want to close and reopen elsewhere.
Chris said the spreads were going to get better pretty soon and I was just asking for a update I think you will agree even for a medium term trader 5 pip spreads on majors is pretty big, now before you come back they arnt 5 pips all the time I know that and I havent said they are but they are very wide alot of the time so in saying all that I would like to stay with them and I am awaiting the tighter spreads and if that doesnt happen soon then I will look at moving. To easy.
One thing I must comment on that I have noticed is when the latest feed first started the spreads were great and as time has gone on they have widened maybe Chris can shed some light on this I wonder what has happened.

I have a question for you why arnt you pushing him for tighter spreads as you can see by a example someone had posted earlier in the thread wider spread costs a trader alot of money over time so why not put pressure on for some tighter spreads as quick as possible Chris is here for feed back lets give it to him.
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I was on here yesterday just waiting for a post to respond to but it felt like I had been abandoned!

I can say we will definitely have the spreads greatly improved very shortly. I have been informed that this could be as early as tomorrow evening. We are just waiting for the details to plug in a new feed.

You are right in that the spreads were fantastic, and now in some cases have widened. Rest assured that this is nothing we have done, and it is certainly not in our interest to have permanently wider spreads. We have not changed the feed, but perhaps our provider has changed who they get their liquidity from - I am just speculating. We have just setup agreements with new liquidity providers to improve several factors to you guys trading, and of course spreads are the most tangible thing. If the new feed is implemented in the next couple of days you will clearly see the difference - especially during the European and US sessions. Having said that, I am regularly getting 1-pip on EURUSD as we speak.

Keep an eye out, and of course we will send some information to clients.
 
PR@GoMarkets said:
Having said that, I am regularly getting 1-pip on EURUSD as we speak.

Keep an eye out, and of course we will send some information to clients.
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Hi PR@GoMarkets,

Thank you for coming on this forum, i have deduced after reading the whole thread that you actually work for GoMarkets. This 1-pip spread that you talk about that you are having right now, is that on the new feed that you are testing or is that the current feed? As you can see from the image below, the current feed is giving me NO WHERE near 1 pip spreads.

I actually joined GoMarkets because of the spreads you mentioned on the website. And i got exactly that - for just a few days, and now i am getting these spreads. But from the thread people have been complaing about the spreads for much longer before i joined. Can you explain this? Do new members get a new feed, and then get changed to the existing feed? Sorry i just dont understand this.

Also, as i asked before, is it because i am a scalper - are you one of those brokers that HATE scalpers?

Thanks for answering the questions.

James Austin, to answer your curiousity, i just recently joined GoMarkets this month .. its not easy to change brokers every single day (well atleast not for me) - i got to withdraw all my funds, then start a whole new application process, etc.. you proabably know the drill. I was just attracted to GoMarkets because of their local presence and their spreads (which im not happy with).
 

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Rasta,

I certianly do work at Go... I don't think I could stomach the constant barrage of questions and on occasion 'negativity' that comes through if I was only pretending!

We certainly do not have one feed for new starters and then one for people who have been here a while. Perhaps you joined just before our spreads widened a little. When I said about the 1-pip I was referring to the new feed, and if memory serves me, it was showing as 1.9 on the current prices.

As we speak, at 7.30 (why am I still here???) the current system is giving me 1.4 pips and the potential new feed is showing 0.5 (although being honest that is without any markup at our end).

If your spreads are consistently showing very wide spreads, please give me a buzz and I can look into you account setup to make sure that everything is ok.
 
PR@GoMarkets said:
Rasta,

I certianly do work at Go... I don't think I could stomach the constant barrage of questions and on occasion 'negativity' that comes through if I was only pretending!

We certainly do not have one feed for new starters and then one for people who have been here a while. Perhaps you joined just before our spreads widened a little. When I said about the 1-pip I was referring to the new feed, and if memory serves me, it was showing as 1.9 on the current prices.

As we speak, at 7.30 (why am I still here???) the current system is giving me 1.4 pips and the potential new feed is showing 0.5 (although being honest that is without any markup at our end).

If your spreads are consistently showing very wide spreads, please give me a buzz and I can look into you account setup to make sure that everything is ok.
Click to expand...

Dare I ask as to what your markup is? For example, on 0.5 as per the new feed, woud that present as a 1 pip spread or less (eg. 0.7) to the client? Not asking you to provide commercially confidential information, but am very curious with respect the example aforementioned.
 
What you see is this "spreads from 0.5 pips". Consumers see that and sign up only to realise that a 0.5 pip spread is rare if ever.
 

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Wysiwyg said:
What you see is this "spreads from 0.5 pips". Consumers see that and sign up only to realise that a 0.5 pip spread is rare if ever.
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Good spot Wysiwyg!

Bewteen 0.7-1.0 is acceptable for a short-term trader. From my experience, it gets very tough beyond that.
 
Just wondering if we can expect the yen pair spreads to improve. I've just signed up with Oanda (yet to fund the account) because of the poor yen spreads on Go. I'm especially interested in EUR/JPY. Any chance this will go down to around 2.5 in major market hours? (Dukascopy even gets as low as 1 pip in normal hours!).
 
Hey Chris,
Any news on the liquidity providers, euro is about the only one tradable at the moment. Gee hope they tighten up soon quite often the GU was 5-6 pips last night while fxpro was less than 2. ( now that is not a winge its just a comparo) the spreads are certainly not helping either one of us I got to say.
 
Guys,

Thought I would give you all some information about the increased liquidity that I have bene promising!

The feed has been upgraded and is running on our server in a test mode, meaning you guys cannot see it yet! I have been told that just needs a final sign off before we can flick the switch to go live which could come as early as tonight. In the meantime, I thought I would give you this screenshot to show a couple of the spreads. It was taken at 1.30pm by me, on my PC:

newliquidity.jpg


I know it is only a couple of pairs, but trust me, it is a very good feed. Later in the day the spreads go much lower and cable regularly gets below 2 pips and EURUSD is regularly showing less than a pip.

We will send out an email with the details when it goes live, but it should be in the next couple of days (weekend excluded).

Chris
 
PR@GoMarkets said:
Guys,

Thought I would give you all some information about the increased liquidity that I have bene promising!

The feed has been upgraded and is running on our server in a test mode, meaning you guys cannot see it yet! I have been told that just needs a final sign off before we can flick the switch to go live which could come as early as tonight. In the meantime, I thought I would give you this screenshot to show a couple of the spreads. It was taken at 1.30pm by me, on my PC:

newliquidity.jpg


I know it is only a couple of pairs, but trust me, it is a very good feed. Later in the day the spreads go much lower and cable regularly gets below 2 pips and EURUSD is regularly showing less than a pip.

We will send out an email with the details when it goes live, but it should be in the next couple of days (weekend excluded).

Chris
Click to expand...

Chris,

Now you're talking! This is what short-term traders really need. Look forward to the actual imminent implementation, and subsequent feedback from current users.
 

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