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First Australian MT4 broker?

  • #1
  • First Post: Sep 12, 2008 2:57am Sep 12, 2008 2:57am
Just got this email from Go Markets:

MetaTrader4
GOMarkets is please to inform all clients that we will shortly be offering an alternative platform for FX and Futures contracts. The MetaTrader system is widely regarded as one of the top FX platforms in the world offering advanced technical analysis including customisable indicators. As part of the new system we will be able to offer


Lower FX spreads (2-3pips on majors) with no commission charge
$5 commission on futures contracts
Half-margins on futures for day traders
24-hour dealing desk


http://gomarketsaus.com/


They currently offer a whitelabel to Saxo Bank's platform. Your money is held in either an NAB or ANZ account in Melbourne afaik (I have a live account with them just not funded).


Nevertheless, finally a local MT4 broker.

  • #2
  • Sep 12, 2008 4:07am Sep 12, 2008 4:07am
Hi Tayser,

I got the same email and are in the same situation as you (unfunded a/c).

How good would it be if it all stacks up, cant wait for the 1st of October.

Cheers.
  • #3
  • Sep 12, 2008 7:17am Sep 12, 2008 7:17am
Agree great for us Australians to have a MT4 broker. but what r they like? the spreads are 2-3 on majors which is standard but what's the price feed like, has any one traded spot fx with them?

I am looking at ATC as my next, ECN with MT4 now if we had that in Australia that would be great!

Good on you for sharing Tayser. I am banned in ASF see u there in NOV. Greatly enjoying the Cyrox thread you and pawn seem to doing well great to see!

Good Trading
  • #4
  • Sep 14, 2008 5:29pm Sep 14, 2008 5:29pm
Quoting tayser
Just got this email from Go Markets:

MetaTrader4
GOMarkets is please to inform all clients that we will shortly be offering an alternative platform for FX and Futures contracts. The MetaTrader system is widely regarded as one of the top FX platforms in the world offering advanced technical analysis including customisable indicators. As part of the new system we will be able to offer


Lower FX spreads (2-3pips on majors) with no commission charge
$5 commission on futures contracts
Half-margins on futures for day traders
24-hour dealing desk


http://gomarketsaus.com/


They currently offer a whitelabel to Saxo Bank's platform. Your money is held in either an NAB or ANZ account in Melbourne afaik (I have a live account with them just not funded).


Nevertheless, finally a local MT4 broker.
Thanks for the info.

It would be nice to know the individuals who are behind this.
Even though they are being whitelabelled by Saxo its good to know the personel, their experience etc.
Where can we find out this information from ?
  • #5
  • Oct 16, 2008 1:45am Oct 16, 2008 1:45am
Hi all,
Gomarket have just released their MT4 demo on there website today. They have told me to expect there live MT4 possibly by Friday 17.10.08.

Spreads look good on demo account.
  • #6
  • Oct 16, 2008 5:08am Oct 16, 2008 5:08am
what brokers are you aussies using at the moment, ive got an account with IG markets, spreads are pretty cool but i think i may need a customisable charting program in the near future...

this thing looking legit?
Grabbing the bull by the horns!
  • #7
  • Oct 17, 2008 8:42am Oct 17, 2008 8:42am
Hey whitegoodman,

The only other broker im using in Australia is GET Financial which also uses the SAXO Platform. This account was great for the first 3 months but have since work out that I have been hitting them at news time. Spreads are now ridicules and being yellowed out. I guess all is fare in love and war. Good while it lasted. Other than that I have been using US based brokers, FXCM, iTradeFX and Interbankfx.

I have recently transferred my bank back to Australia due to the excellent AUD exchange rate, hence looking for an aussie broker with MT4.

I have opened a live account with GOMARKTS as mentioned and will be funding early next week.

I will let everyone know how they stack up over the coming weeks.

There is also another broker opening up in Australia in the coming months. Not MT4 but will be offering some innovative new products to the FOREX market. I won’t mention their name at this point because one of the principles is my mentor and mate. Don’t want to seen giving a free plug.
  • #8
  • Oct 17, 2008 8:50am Oct 17, 2008 8:50am
I guess if you want some basic info on GOMARKETS you could always do a ASIC or ABN search on them.

GOMARKETS PTY LTD
ACN 081 864 039
ABN 85 081 864 039

Go here:

http://www.search.asic.gov.au/gns001.html

http://www.abr.business.gov.au/(nmwi...v55)/main.aspx
  • #9
  • Oct 18, 2008 4:33am Oct 18, 2008 4:33am
thanks jonesy keep us informed on how the gomarkets sytem trades, and what the live data feed, spreads etc are like
Grabbing the bull by the horns!
  • #10
  • Oct 18, 2008 7:14am Oct 18, 2008 7:14am
This GoMarkets broker must be a white label for another broker. Anyone knows who it is?
  • #11
  • Oct 18, 2008 8:08pm Oct 18, 2008 8:08pm
what does a white label mean?
Grabbing the bull by the horns!
  • #12
  • Oct 18, 2008 8:35pm Oct 18, 2008 8:35pm
Quoting whitegoodman
what brokers are you aussies using at the moment, ive got an account with IG markets, spreads are pretty cool but i think i may need a customisable charting program in the near future...

this thing looking legit?
I am trading with Alpari UK Whitegoodman.
  • #13
  • Oct 18, 2008 8:36pm Oct 18, 2008 8:36pm
Quoting PipStar
This GoMarkets broker must be a white label for another broker. Anyone knows who it is?
in relation to MT4. why would they? all they need to do is pay the licensing agreement and they offer it. **Please correct me if i am wrong**
  • #14
  • Oct 18, 2008 9:06pm Oct 18, 2008 9:06pm
Quoting whitegoodman
what does a white label mean?
Hi White, how's ASF?

Ok, a white label is a company that uses anthers brokers platform and feed as their own.

example, you have xyz FOREX company. they have their own platform and feed. then hjk comes and would like to use it under their own name and company website. xyz gives them the right and hjk is now a white lable for xyz. simple but hope that explains it.

great example. ATC Brokers is a white label for HOTSPOT FX

cheers
Apoca
  • #15
  • Oct 19, 2008 9:10pm Oct 19, 2008 9:10pm
Hi apocalypto,
What are the disadvantages of dealing with a white label broker?

I noticed that GOMARKETS have 2 demo server options in MT4. One is the Gotrader demo server and the other is WSD Demo server. WSD Financial Ltd is a White Label Partnership provider in New Zealand.

http://www.wsd-nz.com/wsdproj1/AboutUs/WhiteLabel.aspx

Thought I would get the heads up so can ask the correct questions when i ring gomarkets.

Thanks again.
  • #16
  • Oct 19, 2008 11:08pm Oct 19, 2008 11:08pm
Quoting >Apocalypto<
Hi White, how's ASF?

Ok, a white label is a company that uses anthers brokers platform and feed as their own.

example, you have xyz FOREX company. they have their own platform and feed. then hjk comes and would like to use it under their own name and company website. xyz gives them the right and hjk is now a white lable for xyz. simple but hope that explains it.

great example. ATC Brokers is a white label for HOTSPOT FX

cheers
Apoca
Apoca, since you said ATC is a white label for HOTSPOT, are the quote and spreads the same on their platform? I ever compared their demo but seems a little different. Any comments?
  • #17
  • Oct 20, 2008 3:18am Oct 20, 2008 3:18am
Hi guys, MS+Tradesim here from aussiestockforums.

I downloaded GoMarket's platform Friday night and they rang me this morning. Had a bit of a chat. One thing of interest, they claim scalping is fine but they don't like EAs over news periods. Just a heads up if that is part of anyone's strategies and you're thinking of using these guys.
  • #18
  • Edited 5:40am Oct 20, 2008 5:27am | Edited 5:40am
Quoting $ Jonsey $
Hi apocalypto,
What are the disadvantages of dealing with a white label broker?

I noticed that GOMARKETS have 2 demo server options in MT4. One is the Gotrader demo server and the other is WSD Demo server. WSD Financial Ltd is a White Label Partnership provider in New Zealand.

http://www.wsd-nz.com/wsdproj1/AboutUs/WhiteLabel.aspx

Thought I would get the heads up so can ask the correct questions when i ring gomarkets.

Thanks again.
Hi Jonsey,

the two demos could come from or contain different liquidity providers. I think it's you ask the Gomarkets rep what the difference is and what benefits each may have.

Advantages of a white label.

An example that comes to mid in ATC and hotspots case is. Hotspot i feel wants the bigger business and less retail punters. hence the $7000 usd minimum account opening fee. I think ATC is there to pick up the market. they have 3500USD to open an account. also up to 100:1 leverage. Hot spot offer 50:1.

here's the crunch. ATC is not hotspot so they cant offer the .00002 commision on the 100K lot like Hotspot can as they need to make their money. they charge 4$ us a side. or 8$ a round trip just cheeper then the dealing desks or most. But they are an ECN as they most likely use Hotspots feed on MT4. maybe the first to do so. that is also the positive of going for them. a lot of the retail crowd run on MT4.

hope that helps mate good luck with GoMarkets.
  • #19
  • Oct 20, 2008 5:33am Oct 20, 2008 5:33am
Quoting manfree
Apoca, since you said ATC is a white label for HOTSPOT, are the quote and spreads the same on their platform? I ever compared their demo but seems a little different. Any comments?
they maybe but I see ATC offer flat quotes on the eur/usd as well. I have used Hotspot demo but not ATC, so I can't give you a accurate comment on that sorry.

I spoke to a rep at ATC he plainly told me that they are a white label for hot spot as I was pushing him for 200:1 leverage and he told me it mostly will never happen due to Hotspot. I was told that they were lucky to have 100:1

What i would love to see is a ECN in Australia. with MT4 would be a dream come true but lets hope for the ECN for the time being.......

cheers.
  • #20
  • Oct 20, 2008 7:45am Oct 20, 2008 7:45am
Quoting >Apocalypto<
Hi White, how's ASF?

Ok, a white label is a company that uses anthers brokers platform and feed as their own.

example, you have xyz FOREX company. they have their own platform and feed. then hjk comes and would like to use it under their own name and company website. xyz gives them the right and hjk is now a white lable for xyz. simple but hope that explains it.

great example. ATC Brokers is a white label for HOTSPOT FX

cheers
Apoca
havent been on ASF for a week, been checking this out plus uni assingments and end of quarter at work, has been fun fun...

so is it a negative if gomarkets is a white label?
Grabbing the bull by the horns!
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