Go Markets vs. FXCM

[rough60]

Hi all,
Just joined and there is some great info I've already read.
I've downloaded a few demo's and have decided to go with FXCM or GO.
A workmate is with FXCM and is very happy.
I'll only be starting with a few $100 to try them out and am pretty new to trading.
I read alot that FXCM spreads are usually pretty wide compared to other brokers and seen some people worried about GO stretching the truth on some issues, connection etc.
Any info is aprecciated, especially what would be better for an inexperienced trader to start out at.
Cheers.

 

[supermatt]

how about both? Then make your own mind up. The only reason you are having doubts about go is because there have been a couple of people having a sook over petty things.
To simply put it, there is nothing wrong with go and they treat you well.

 

[dasmith1973]

as above, check the other threads...

I use both for a number of reasons - compare performance, using aussie banks, stp style orders, spreading out risk etc.

Overall FXCM spreads & slippage is 1 to 2 pips higher which is important for very short term trading, less important for longer term. This is in fact stated on their website somewhere, I just saw it this week stating they are 1 - 2 pips above Interbank pricing which explains the higher spread.

GoM has also stated they have a markup on the feed, 0.5 on EURUSD from memory.

FXCM slippage is due to market order execution (no requote) vs GoM being Instant Order (but gives occassional requote)

Depends on your goals, trading style & $. (FXCM require $2K min for MT4 account).

Chrs, Dave

 

[rough60]

Thanks guys,
In the demo account on GoM i cant put a s/l less than 50pips, is this normal?
Thanks.

 

[Wysiwyg]

y.

FXCM slippage is due to market order execution (no requote)
Chrs, Dave

Is slippage also a result of internet connection speed. For example as you were saying about the milliseconds. I read 50 m/s or less is best but depends on computer, exchange, wires etc. I ping the ip address and get the speed out and back average.

 

[hardcoremike]

Thanks guys,
In the demo account on GoM i cant put a s/l less than 50pips, is this normal?
Thanks.

Hi Rough. Not sure if this is what i think you're asking, but GM might be quoted as
1.46532, that 2 at the end is actually .2 of a pip, so your stop loss should be 1.46482

 

[Stormin_Norman]

Thanks guys,
In the demo account on GoM i cant put a s/l less than 50pips, is this normal?
Thanks.

50 pips = 5 pips. so yes, that's normal not to allow stop loss so close to market price.

 

[rough60]

Thanks, I'll check it again tonight.