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Search1ng Oct 11, 2009 10:04am | Post# 1

GoMarkets Discussion
 
Why was the last GoMarkets thread sent to the rubbish bin?

Either way, I've recently opened a live acc with them but before i invested some money i wanted to ask all you great sages for your experience/opinions.

reviews at http://www.forexpeacearmy.com/ (forex peace army - broker review site) have recently listed Gomarkets(AUS) as a pretty decent broker. Granted the early reviews were pretty bad but apparently they've cleaned up their act a lot. Also some guys here recommend the broker.

Before this change of heart I was using Alpari.co.uk I used Alpari because they seemed to be a well established, reliable broker. I however, took a 4 month break due to pressing concerns not forex related and when i returned to start trading again i found out that Alpari had taken a turn for the worse (according to reviews and posts here) so i was very apprehensive about trading with them again. I would love some thoughts and input about this.

Overall I'd like to know whether or not GoMarkets(AUS) is a GOOD broker who won't scam me of my money or try and sudden moves that'll destroy my account. Also, i'd like to know that they won't 'debt,' my account over random BS and that they also won't call me out of the blue telling me to fund my acc with more money or that it'll go bust.

I just want a reliable broker that won't scam me of my hard traded money...


Thanks!

Search1ng Oct 11, 2009 8:45pm | Post# 2

...Anyone?

supermatt Oct 11, 2009 9:24pm | Post# 3

i have a live account with go for a while now (back when these apparent bad reviews were being made also)
All those bad reviews were a load of bs in my view. I have never had an issue with them.
Alot of people were having issues with there trades not going through but never had a problem and everything ran fast. I think it was more the case of peoples internet connection playing up more than Go. They did there best to help those people having trouble to. But theres only so much you can do.

I have a small account just to see if they are reliable and yes they are. They withdraw your money whenever you request, quickly. They dont stop hunt you or whatever you wana call it. All in all they have my trust at the moment and I wouldnt really consider else where right now.
They have had more liquidity in there live feed now so the spreads are abit better and the data is pretty clean to.
There customer service is good aswell, so if u ever have a problem with your account they fix it up quickly.
At this point i do think they are a good broker who want you to do well. Untill proven otherwise I am happy to trade with them

ps. fxpeace army are full of idiots anyway.

Search1ng Oct 12, 2009 1:36am | Post# 4

Awesome. Either way I'm going to demo with them for another week or two just to test out execution speeds and stuff then I'll fund my account and start trading.

They don't call you up for additional funds etc do they?

supermatt Oct 12, 2009 1:48am | Post# 5

whilst they did improve their demo i think i dont think demo-ing with a broker will actually give an an accurate idea on their real time server speeds. Whilst go's are good on live i would just open up a live account and a small amount of cash to start with. I didnt do a demo.
Either way you will have someone ring u up to welcome you to go markets when you do live and you will get someone call you when you access the demo probably asking you what your plans are.

no one has ever called me asking to put more money in. They probably only call you if you get margin called lol but that is normal.

any forum you are going to have whinging about any broker. This is just my experience with them and I am happy.

for further opinions check out what all the other australians think.
aussiestockforums.com.au

and just go to the forex section and go to the go markets thread. plenty to read about if you want more

Hyper Feb 20, 2010 4:05pm | Post# 6

Slippage on GoMarkets
 
I've read everywhere that their Currenex feed is excellent, so I'm thinking of trading through them.

However since their server is in Australia I'm wondering whether anyone trading from outside of Australia (e.g. US or UK) experiences much slippage.

The round trip ping duration from US is around 200ms, so by the time you see a price in your terminal it may be outdated.

so if anyone from outside of Australia trades through GoMarkets, please share your experiences, especially regarding slippage.

rbrtsha Feb 20, 2010 4:20pm | Post# 7

go market fees
 
just a question....do they only charge on spread or do they also charge commission as well as spread? also whats the .5% fee for?

baron193 Feb 20, 2010 4:33pm | Post# 8

From Australia, Go Markets are a decent broker IMO, and they are regulated by a reasonably tough regulator called: ASIC
I have traded with them for last 6 months as a live trial, besides my futures account, and did not find anything seriously wrong with them.
The only problem i have is the lack of a DOM with MT4, which makes order entry/exit/management a lot quicker and easier, also the lack of a "generic" choice of bracket order on entry, instead of the cumbersome manual entry of SL numbers.

PipStar Feb 20, 2010 7:33pm | Post# 9

Has anyone noticed that Go Markets now has a few seconds delayed execution? When you click on buy or sell, it says that the order is being processed and then you get the price of a few seconds later with whatever slippage is incurred. If price is moving very fast, you will incur massive slippage. You can check the number of seconds they take for execution in your journal when you are trading or in your metatrader log.

Gamma76 Feb 21, 2010 2:01am | Post# 10

I've read everywhere that their Currenex feed is excellent, so I'm thinking of trading through them.

However since their server is in Australia I'm wondering whether anyone trading from outside of Australia (e.g. US or UK) experiences much slippage.

The round trip ping duration from US is around 200ms, so by the time you see a price in your terminal it may be outdated.

so if anyone from outside of Australia trades through GoMarkets, please share your experiences, especially regarding slippage.

I have traded with gomarkets, from the united states and the trades took forever to execute. I'm not sure how long they took to actually fill..However, they take anywhere from 1-3 seconds for market orders to execute for sure. their is some price slippage..However, the slippage isn't always against you..It's like 50% change the price gets filled at better than the quoted price and 50% it gets filled at worse price.

they told me that since i'm trading from the US, it should take a little longer..However, no longer than one second.

Their price feed is the most volatile i have ever seen..

Gamma76 Feb 21, 2010 2:13am | Post# 11

Has anyone noticed that Go Markets now has a few seconds delayed execution? When you click on buy or sell, it says that the order is being processed and then you get the price of a few seconds later with whatever slippage is incurred. If price is moving very fast, you will incur massive slippage. You can check the number of seconds they take for execution in your journal when you are trading or in your metatrader log.
While i haven't had any complaints..I trade from the united states, and the trades don't execute as fast as say MBtrading. However, while trying the demo account..the trades execute a lot faster than real time.


One time i was able to cancel a market order and the system allowed it to be canceled after it was transmitted..That's how long it takes for orders to executes sometimes.

I can place some trade times on sunday night.


My Real only concern with them is how long it takes to fill market orders with them. They have decent customer support, and deposits are credited quickly..

However, the very long trade execution is very worrying...It makes you wonder what "exactly' is going on...

I have honestly had accounts with 15 forex brokers and there fills take the longest.

baron193 Feb 21, 2010 4:26am | Post# 12

Has anyone noticed that Go Markets now has a few seconds delayed execution? When you click on buy or sell, it says that the order is being processed and then you get the price of a few seconds later with whatever slippage is incurred. If price is moving very fast, you will incur massive slippage. You can check the number of seconds they take for execution in your journal when you are trading or in your metatrader log.
Yes that is something i noticed, however, as i run the platform on two PC's i find sometimes one PC executes instantly, while the other takes up to 4 seconds at times, i have been told to delete the platform and reinstall it, but have not tried it yet, i do not think it is intentional, but can be a pain for sure.

PipStar Feb 21, 2010 4:41am | Post# 13

Yes that is something i noticed, however, as i run the platform on two PC's i find sometimes one PC executes instantly, while the other takes up to 4 seconds at times, i have been told to delete the platform and reinstall it, but have not tried it yet, i do not think it is intentional, but can be a pain for sure.

Never believe a broker that tells you that slow execution is a problem at your end. It is always at broker's end. When a broker blames your internet connection or ask you to reinstall the platform they are merely playing games with you. Believe me I am a veteran that has used many brokers. I have checked with many other friends that use Go Markets and all report that the delay started some 2 weeks ago. It is a dealing desk tactic even though you may sometimes get a favourable price, then when the market moves fast you'll give it all back and much more in huge slippage. And it would not matter in which part of the world you are in if the broker intentionally delays execution as I believe Go Markets is doing.

Hyper Feb 21, 2010 7:46am | Post# 14

just a question....do they only charge on spread or do they also charge commission as well as spread? also whats the .5% fee for?
There is no commission nor a ".5% fee".

Hyper Feb 21, 2010 7:48am | Post# 15

From Australia, Go Markets are a decent broker IMO
I've heard the same from Australians, but my concern is whether execution is worse for non-Australians due to the large physical distance to their servers.

Hyper Feb 21, 2010 8:01am | Post# 16

anywhere from 1-3 seconds for market orders to execute for sure. their is some price slippage..However, the slippage isn't always against you..
Thanks Gamma76, it's just what I needed to hear - the experience of a US trader with GoMarkets whose servers are on the other side of the world.

It's like 50% change the price gets filled at better than the quoted price and 50% it gets filled at worse price.
At least it's fair. Some other brokers only pass slippage to you if it is not in your favor.

they told me that since i'm trading from the US, it should take a little longer..However, no longer than one second.
So they admit it themselves that the physical distance can cause extra delay.

Their price feed is the most volatile i have ever seen..
That's how an STP or ECN price feed should be, with prices staying constant often for just a few milliseconds. So the greater the network latency, the more difficult it would be to catch the price that your terminal receives.

Hyper Feb 21, 2010 8:09am | Post# 17

MetaTrader was never designed to be connected to a Currenex feed as GoMarkets have done, so maybe problems sometimes arise, just like in a marriage between two people who don't really like each other.

What other brokers offer Currenex through MetaTrader, and how do they compare with GoMarkets?

I've just checked the GoMarkets web site and it says that they will soon offer the actual Currenex platform labeled "GoTrader Pro". I presume execution would be better, but the physical distance for non-Australians is still an impediment.

Gamma76 Feb 21, 2010 11:00am | Post# 18

Yes that is something i noticed, however, as i run the platform on two PC's i find sometimes one PC executes instantly, while the other takes up to 4 seconds at times, i have been told to delete the platform and reinstall it, but have not tried it yet, i do not think it is intentional, but can be a pain for sure.
I tried uninstalling it like the said..It didn't improve trade execution one bit..

baron193 Feb 21, 2010 2:36pm | Post# 19

Never believe a broker that tells you that slow execution is a problem at your end. It is always at broker's end. When a broker blames your internet connection or ask you to reinstall the platform they are merely playing games with you. Believe me I am a veteran that has used many brokers. I have checked with many other friends that use Go Markets and all report that the delay started some 2 weeks ago. It is a dealing desk tactic even though you may sometimes get a favourable price, then when the market moves fast you'll give it all back and much...
Yes i hear you, i too have experience with all kinds of brokers, this problem did not start 2 weeks ago for me, but rather, 2 months.
Also as i said, one of my PC's executes a lot quicker than the other....
Distance alone can not be the reason, as my orders with Transact futures (US server),and earlier with Oanda, were executing almost instantly.
I must say i have no affiliation whatsoever with this broker, and if proved that they're playing games it will hurt them considerably, however, i do not believe that to be the case.
I'll take the time to talk to one of the reps this week to see if it can be solved by reinstalling.

Gamma76 Feb 21, 2010 4:21pm | Post# 20

Yes i hear you, i too have experience with all kinds of brokers, this problem did not start 2 weeks ago for me, but rather, 2 months.
Also as i said, one of my PC's executes a lot quicker than the other....
Distance alone can not be the reason, as my orders with Transact futures (US server),and earlier with Oanda, were executing almost instantly.
I must say i have no affiliation whatsoever with this broker, and if proved that they're playing games it will hurt them considerably, however, i do not believe that to be the case.
I'll take the time...


I have installed it on a High End computer, that i made myself..The computer boots Windows 7 in 11 seconds (rounded Up). I also have a real fast connection, since i live tried everything i could on my end, and could not get faster execution times with Gomarkets.

I think this is an issue that only go markets can solve.

i'm wondering if Lot size has an effect on how fast the trade can be executed?


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