Australian (ASX) Stock Market Forum

Go Markets any good for forex?

Jump to new
lasty said:
Define STP?

If you have not influenced the price by shading it ie taking any proportion of the price in remuneration either through stop loss T/P or normal trading activity either by a dealing desk or an algorithm then you are a STP.
A STP will identify itself normally by charging brokerage for its remuneration.
Those who dont charge brokerage have to acquire another revenue stream unless they are a charity.
In Foreign Exchange the only charities that are identifiable are the newbies having a dabble.;)
Click to expand...

We are straight through processing in that all trades executed through us go directly through to hedging partners, there is no dealing desk or any such algorithm to do anything to trades, otherwise we would not be STP as you say.

Rather than a commission fee we simply have a small spread markup, which is basically the same thing - we have to generate revenue some way, as you say.
 
We are currently finalising all details for GoTraderPro and will expect to send them out over the next few weeks. Hopefully this will be launched by the end of January. I do not see a reason as to why we would restrict clients to only one platform, you should be fine to use both.
 
PR@GoMarkets said:
We are currently finalising all details for GoTraderPro and will expect to send them out over the next few weeks. Hopefully this will be launched by the end of January. I do not see a reason as to why we would restrict clients to only one platform, you should be fine to use both.
Click to expand...
Hi PR,
Can you give us some rough idea of what it is?
- Is it a new platform (i.e. not MetaTrader) or just a different account type, or both?
- Free or charged service?
- Any benefits other than smaller spreads?

Sort of related, I was told when I was signing up by a staff member there that you were planning to migrate users to MetaTrader from SaxoTrader.
Are you planning to phase out SaxoTrader and if so for how long will it be supported?

cheers, drayzen
 
Drayzen,

We no longer offer the Saxo platform. Our 'phasing out' is completed and it has now been well and truly 'phased'!

We will be releasing further details of GoTraderPro soon, however don't worry, MT4 will stil be around, the new platform is just an addition.
 
tayser said:
GoTrader Pro = Currenex white label?
Click to expand...

Can you please elaborate on that one tayser. What would a "white" label be?

http://www.currenex.com/index.html
Currenex connects more than 70 global banks to a superior electronic trading network, making Currenex one of the deepest liquidity pools in Forex.


To PR@GoMarkets
I think that it's great that someone from a broking/financial firm is actually talking to clients in an open forum about platforms/issues/future services and other things. You don't see commsec or anyone else for that matter (very rarely) discussing issues in/on an open forum, and replying too. Cheers mate.
 
Currenex is a solution/platform for brokers to buy and "brand" (white label) for themselves. There's Bucketshop MT4 and then there's real ECN platforms like Currenex.

Currenex used to be an exclusive pro-trader platform only (i.e required $100,000 to open an account) but many brokers are chasing the retail traders with Currenex platforms - just need to be wary because some are posing as true ECN/Currenex brokers but offering manipulated feeds (all feeds are manipulated to some extent because you can negotiate your spread and commission - however there's MT4-like manipulation and there's everyone else).

Below is a screenshot from a demo account I have with FXDD which is a US-based broker (there are no Australian Currenex brokers catering for retail traders as far as I'm aware). Cyrox scalpers have access to a special pool in FXDD which offers them lower account opening thresholds ($1000USD) and reduced spread & commission - as there's a considerable amount in account equity among all the traders using it in the pool.

Typical spreads in liquid times (screenshot below was taken just after US close, pre-Asian open: basically the widest spread you'll see on the platform) on GBP/JPY are 1.5-2.5 pips, sometimes spiking to 3.5 pips - but this has been negotiated for this specific group of users and is not the standard FXDD spread.

if Go Markets offer something similar - $1000AUD account opening (with AUD denomination - FXDD only offer USD), $16AUD per million traded commission and 1.5-3 pip GBP/JPY spreads I'll jump ship.

currenex.png
 
Just looking at some simple buy & sell scripts but they don't seem to run when sl or tp is included with the order.

Have read that some brokers don't allow it, do Go Markets allow it?

Kim
 
Go Markets has no problem with you writing your own compatible scripts or using any EA's. we are happy for clients to try and simplify their trading.
Thanks
 
Running the scripts is working fine, the system just won't take the order when it has sl & tp with the order.
I've altered the scripts to do it in 2 stages, place the order without sl & tp and then modify the sl & tp and it works fine so I'll stick with that.

Kim
 
Is it possible to place bracket orders using GOMarkets?
i.e, place a buy/stop and sell/stop when opening a new trade.
 
Seasons greetings to all visitors to this thread and we look forward to tackling more of your questions in the new year.
Thanks for your continued support.
 
PR@GoMarkets:
I just opened a FX account on Go Market, and have some newbie's question to bother you:
1. What is the maximum period to hold a contract?
2. is there any CFD product/FX option provide by Go Markets?
In FX PDS, it mentions about foward FX contract / FX option, but there are only spot FX contracts list in MT4. Also, i couldnt find any CFD product information on Go Markets website except the CFD PDS document.

Thanks
ZZX
 
Hi Go PR/ Chris,

given Currenex is merely a software vendor and does not therefore imply ECN access, what are Go's plans, ECN access or will it be the same MM model as presently used?

thank you

JA
 

Similar threads

TulipFX
How to select a Forex Broker
Replies
6
Views
3K
T0BY
T0BY
Top