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GoMarkets Discussion

Quoting SYNeR
Hmm, this is a bit of a worry.
I haven't personally noticed the massive spreads others have, but I'm concerned.

I joined GoMarkets as I'm Australian, and like that they're regulated by ASIC. Can anyone suggest any other brokers that fit this criteria? I'd prefer a broker that doesn't charge commission, as I'm only learning forex and make a lot of trades (although maybe I just need to be more disciplined)..

Maybe VantageFX?

Axitrader is Sydney based, decent spreads and I have had no issues with connectivity or slippage..
Quoting SYNeR
Hmm, this is a bit of a worry.
I haven't personally noticed the massive spreads others have, but I'm concerned.

I joined GoMarkets as I'm Australian, and like that they're regulated by ASIC. Can anyone suggest any other brokers that fit this criteria? I'd prefer a broker that doesn't charge commission, as I'm only learning forex and make a lot of trades (although maybe I just need to be more disciplined)..

Maybe VantageFX?
with e recent bad experiences that so many traders had,regulated or not is no longer a issue here,No? GoMarket is just doing things like a regular market maker,if not worst!? still no sign of chris fr Go,why? u go figure.
Quoting fxking
GoMarket is just doing things like a regular market maker
This is the statement found on the Margin Forex page of the Go website:

"No dealing desk execution and straight through processing
GO Markets offer 100% straight through processing with no dealing desk execution. These features combine to give you the best possible execution speeds and prices. All trades are automatically executed at the market price meaning there are no requotes, ever. No dealing desk execution means you will never suffer from price manipulation or stop hunting."

Whether the statement is correct or not, it appears to me to imply that Go do not consider themselves to be market makers. Am I misinterpreting their statement? Does anyone else have different understanding?
GO states that it passes all trades to the LP, making income only from the spread. But what the LP does with your trade is another matter.


Quoting HintFX
This is the statement found on the Margin Forex page of the Go website:

"No dealing desk execution and straight through processing
GO Markets offer 100% straight through processing with no dealing desk execution. These features combine to give you the best possible execution speeds and prices. All trades are automatically executed at the market price meaning there are no requotes, ever. No dealing desk execution means you will never suffer from price manipulation or stop hunting."

Whether the statement is correct or not, it appears...
Quoting fxking
with e recent bad experiences that so many traders had,regulated or not is no longer a issue here,No? GoMarket is just doing things like a regular market maker,if not worst!? still no sign of chris fr Go,why? u go figure.
I'm not too sure on the regulatory powers of ASIC, so I can't comment too much. But, I will say I'd prefer them to have *some* regulation rather than none.

In addition, the complexity of technology and the way in which there is a serious lag in the legal system with regards to computers, technology, etc makes regulation even more difficult, IMO.

I'm not extremely familiar with the typical layout, network infrastructure, topology, etc of forex brokers, but I can imagine there are plenty of opportunities for excuse making.. First, limitations of technology (network latency, etc), typical "glitches", and so forth.


Quoting PixeLM
Axitrader is Sydney based, decent spreads and I have had no issues with connectivity or slippage..
Thanks for that. I'll check them out.
Spoke to GOM today and was informed Chris no longer works there, which explains his non-posting here at the forum. Hopefully GOM replaces him at this thread with someone competent.

The rep also acknowledged ongoing LP issues, which we all knew, but at least they are not claiming they don’t exist. Apparently GOM is working, albeit slowly, to resolve the issues.

Hopefully, the LP issues do resolve and GO returns to the good old days.

.
Quoting PeterE
Spoke to GOM today and was informed Chris no longer works there, which explains his non-posting here at the forum.
.
Wonder whether he left of his own accord or was pushed?......

Regarding GOM's issues, you're a more patient individual than my good self PeterE
i use other br0kers

but i would like to see GO return to their former service, because i think they could be a good option in the future


Quoting Alpha-Bet
Wonder whether he left of his own accord or was pushed?......

Regarding GOM's issues, you're a more patient individual than my good self PeterE
Quoting PeterE
i use other br0kers

but i would like to see GO return to their former service, because i think they could be a good option in the future
I understand

It's hard to re-establish trust
Whether Chris has left or not is beside the point.

There is still no communication from them.



Quoting PeterE
Spoke to GOM today and was informed Chris no longer works there, which explains his non-posting here at the forum. Hopefully GOM replaces him at this thread with someone competent.

The rep also acknowledged ongoing LP issues, which we all knew, but at least they are not claiming they don’t exist. Apparently GOM is working, albeit slowly, to resolve the issues.

Hopefully, the LP issues do resolve and GO returns to the good old days.

.
i'm merely the messenger, not siding with anyone


Quoting dawsonsg
Whether Chris has left or not is beside the point.

There is still no communication from them.
Hi PeterE,

I not saying anything either way. I never had a problem with Chris, ever. All I am saying is that if he is gone, for whatever reason, there has been no change at all in the way GoM have conducted themselves. Well, no change from my point of view.

If there was at least some comms I think people would be a little more forgiving and there would be more chance of them going back when things settle down.




Quoting PeterE
i'm merely the messenger, not siding with anyone
It actually worries me a little that Chris had gone I have always found him a pretty straight shooter and if he has left because he didnt agree with some changes thats not good for us.
Time will tell I guess, I am looking for another broker now tho had enough of 2 pip spreads let me tell you and yesterday and today the execution time seems to have slowed anyone else getting that or is that juts me.
I agree.

Will just have to wait and see if GO's performance improves or diminishes. And in the mean time trade elsewhere.


Quoting sutters
It actually worries me a little that Chris had gone I have always found him a pretty straight shooter and if he has left because he didnt agree with some changes thats not good for us.
Quoting PeterE
Spoke to GOM today and was informed Chris no longer works there, which explains his non-posting here at the forum. Hopefully GOM replaces him at this thread with someone competent.

The rep also acknowledged ongoing LP issues, which we all knew, but at least they are not claiming they don’t exist. Apparently GOM is working, albeit slowly, to resolve the issues.

Hopefully, the LP issues do resolve and GO returns to the good old days.

.
My sentiment exactly. Sorry to hear Chris is no longer with GoM but hopefully, things will soon revert to the way they were, back when this broker bested the more established market-makers around.
Amor Fati--F. Nietzsche
Quoting PixeLM
Axitrader is Sydney based, decent spreads and I have had no issues with connectivity or slippage..
Are you with crucial VPS to AxiTrader?
I video recorded my trading with GoM during the NFP annoucement yesterday. Although I suffered large losses due to my own settings on robot (no fault of GoM), I was impressed by the execution during this time. The datafeed appeared to be solid until about maybe 7-10 minutes after the announcement it froze up for about 30 seconds or so.

I was running it from CNS vps in New York City.

Their UK datacenter is actually full at the moment. Hopefully they open up this weekend.
Measure trends automatically with zero lag
Quoting HintFX
..................

As for the question of ping times, I also think the bottle neck would be further upline within the confines of the brokerage. Especially when my partner and I have seen news trade execution delayed by up to a minute (and admitted to by the brokerage).

I am more concerned with getting them off my terminal and on their way as soon as possible. Since I can close up to 100 orders simultaneously, the combination of processor speed, RAM and upload speed means at least I don't have a bottle neck at my end. Just like everyone else,...
I, too, trade high volume. MT5 is supposed to help solve this problem, because the closeall will offset each pair's net position only once, instead of mt4 having to close each trade separately, which can be at the rate of 1-3 tickets per second depending on latency, the broker and how well coded Expert Advisor is.
Measure trends automatically with zero lag
Quoting sutters
... and yesterday and today the execution time seems to have slowed anyone else getting that or is that juts me.
Definitely agree. It is most obvious in my case where closing out multiple identical positions, say 6 AUDUSD positions of 2 lots each. In the past execution was so quick that all 6 would have disappeared from the terminal simultaneously with the end result being identical close prices for all positions.

At the moment, closing the same 6 positions seems to be staggered over, maybe, 3 seconds with the resultant close prices in the latest instance spread over a 2.5 pip range. The next 2 instances I quickly looked at were spread over 1 and 1.3 pips.

Some may argue this is just slippage and it is to be expected, but it has been a obvious and instantaneous change in a case where it hadn't been happening previously.

I have seen this happen at times of low and high volumes and tick rates, so it appears to me to be more order processing delay rather than the capacity to find a fill. Further, with very fast ping time, extremely good upload speeds and more than sufficient RAM and CPU speed, I don't believe the bottle neck is at my end.

In some cases this delay has the effect of doubling the spread and we all know we hate that.

Hopefully, it will be rectified quickly.
Quoting ybfjax
I, too, trade high volume. MT5 is supposed to help solve this problem, because the closeall will offset each pair's net position only once, instead of mt4 having to close each trade separately, which can be at the rate of 1-3 tickets per second depending on latency, the broker and how well coded Expert Advisor is.
ybfjax, Was busy posting and didn't see your's until after I submitted mine.

I have obviously been lucky in the past, I have had much better rates than 1-3 tickets per second. I guess that is why it has appeared such an abrupt change to have such slow execution. It is much worse when I am closing out large numbers of positions, but I thought I would use the example of 6 small identical positions because I think it minimises other outside influences, such as the effectiveness of the EA, multiple pairs and buys vs sells.

I have an associate who has been benchmarking a number of different position closing scripts. He has been comparing only like with like - for example, close all pending positions scripts are only compared to other close all pending scripts and not close all BuyStop scripts. He has been amazed at the variation of execution speeds.
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