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First Australian MT4 broker?

  • #101
  • Jul 15, 2009 12:43pm Jul 15, 2009 12:43pm
fxsol-aus do not provide aus index.

interactivebrokers will do it for sure
but they have ridiculous inactive trader fee and data feed fee up to 30$/month,
and you cannot even try their platform w/o wire transfer deposit 10k usd... I heard 30% of new user don't like their platform and leave.

you can trade aus200 cfd with fxcm-uk cfd
starting 25*4000aud=80k usd position, position is kind of too big...(see attach)

delta trades asx200 at 4000aud or 3200 usd position, this is way safer.
Quoting Kenz987
I was just informed that they will not be offering any futures contracts. Does anyone know of a MT4 broker that offers the SPI200 futures? Thanks, Ken.
Attached Image
  • #102
  • Jul 16, 2009 1:06am Jul 16, 2009 1:06am
FXCM also offers MT4 there now.

By the way whats so good about MT4 for trading? Unless you use EAs, you don't really need an MT4 broker. My priority is tighter spreads and fast execution.
You can use MT4 demo for charting and use other broker for live trades. You may also want to read Are You Using Right Charts For Forex Trading?
  • #103
  • Jul 16, 2009 3:01am Jul 16, 2009 3:01am
Anthony Newton from Go Markets, Sales Manager, followed up my download of Go Markets today to see I was interested in opening an account (boy, they are fast!) But unfortunately I only gave him 0000000000 for my phone number and he had to resort to email.
I mailed him the chart spikes detailed in the pdf above and asked him the reason for this noise in the data feed. Was it stop hunting, when other MT4 platforms do not have it? Will post the response.
Frank
FrankieB
  • #104
  • Jul 16, 2009 11:12pm Jul 16, 2009 11:12pm
Hello Frank,


It’s a lot easier to explain over the phone, but in regards to price feeds you are looking at our demo account. With our data feed we take the best bid and ask rates from approximately 70 different banks. We have a large number of clients and the live accounts are running as per normal. If a data spike happened to occur on the live accounts, we assess it on a trade by trade basis but the general policy is too reverse any wining or losing trades.


If you have any further questions, please do not hesitate to contact me.
Kind Regards,

Anthony Newton
Sales Trader
GOMarkets Pty Ltd
Level 16, 114 William Street
Melbourne
VIC 3000
FrankieB
  • #105
  • Jul 21, 2009 12:10am Jul 21, 2009 12:10am
I had some guy from go markets c all me up trying to sell me their platform by arguing with me. High pressure sales? Not in this country I'm sorry. I will probably write a complaint to ASIC sometime soon. Not only because of the nature of the call and the 3 times during working hours that he tried to call. But because his information was false and he was selling something that didn't exist.

He also claimed to be an ex bank trader, but clearly had jack fuck all idea about how things work in the spot industry and who the major players in the ECN network are.

Sounds like a struggling company in my opinion, wouldn't touch them with a 10 foot pole.
  • #106
  • Jul 21, 2009 2:56am Jul 21, 2009 2:56am
Sorry to hear you were dogged by the salesman. That was why I gave him ten zeros for my number. He definitely wanted to have my number as the email above illustrates. What is interesting in the email reply I got from Go Markets is that he did not deny the presence of spikes (even on live accounts) but said he would reverse wins and losses. That was a significant oversight by him because it betrayed a questionable feed, or a manipulated feed. Either way, not the type of Aussie broker I am looking for.
Frank
FrankieB
  • #107
  • Jul 21, 2009 6:04am Jul 21, 2009 6:04am
I can only tell you about my experience with a live account with Go Markets. Fast account opening, good execution and fast withdrawal with funds received in 24 hours. Never had a problem with spikes and I only trade the majors. Anyway why take anyone's word on a forum whether they are good or bad. You can still open a small account and test them and see whether you like them. That's the best way to judge any product.
  • #108
  • Jul 22, 2009 7:35pm Jul 22, 2009 7:35pm
I have a live acc with Gomarkets.

When I was getting the account open i was called by a rep, he was not pushy or rude. I asked lots questions and never had an argument.

Surprises me to read some of the comment above. I found the guys there very help full even when I rang 2 times in 6min to make sure my fax had come in.

The account opening process was fast and easy for me. I have had to call in a few times with questions and each time got the answer I needed no issues.

As far as trading with GoMarkets, i did not have any real problems 1 invalid price. Any time there has been an issue I have been informed of it durring and the solution emailed just after the event. Some times I had no idea there was an issue in the first place.

good example when they changed to at market filling they told me then after awhile asked what i wanted to do. I wanted insant as aposed to at market.

They are trying something different and that's a thumbs up to em.

I remember well at Alpari when there was issues they were never at fault. at least Gomarkets comunicate with u via email and ask what you would like to do.

tight spreads, able to trade micros - standrad on E/$ from .3 of a pip in london session....

a decent MT4 broker.

cheers,
  • #109
  • Jul 23, 2009 3:55am Jul 23, 2009 3:55am
Apocalypto,
Thanks for the positive feedback from a person using them as a broker. This is important in making a choice to try them out, as suggested by Pipstar --to have an account and see how they perform. With feedback from present customers, we can get a more balanced picture instead of looking from the outside in. You present information that teases me to try them with a small account and see how they perform.
Cheer,
Frank
FrankieB
  • #110
  • Jul 27, 2009 5:35pm Jul 27, 2009 5:35pm
Well,
I was thinking about testing them out until one of their clients on another board was complaining how the live server has been regularly down a few times a week, and he is looking around for another Aussie broker that is more reliable.
FrankieB
  • #111
  • Jul 28, 2009 11:36pm Jul 28, 2009 11:36pm
You will find that the tricks played by brokers will only really effect 2 types of trades.

1) A large order that is floating negative close to stop or
2) a position that the majority have taken, which has a tight stop/margin call.

They will hunt these types of orders.

If you test them with lets say 1000 dollars.. Your position size is going to be garbage and they will not be interested in manipulating. Trading 100 lots, i bet they would ruin your life.

I am sure the sales guy was as helpful as possible and gave you all the answers you wanted to hear in order for you to be part of their business. However being a professional trader, with experience in how things work (I have even been a broker) I can tell you that the guy who called was 100% sales, knew nothing about the markets he knew how to set you up with his company and sell his company. The fact that when i asked a question he didn't know the answer to, he started to get frustrated and unhappy was enough for me to hang up the phone.

Scumbags even if they have a true feed, imho.
  • #112
  • Jul 29, 2009 3:20am Jul 29, 2009 3:20am
Quoting Frank Basten
Well,
I was thinking about testing them out until one of their clients on another board was complaining how the live server has been regularly down a few times a week, and he is looking around for another Aussie broker that is more reliable.
There are complaints about every broker on every forum. If this is what stops you from opening an account, then you will never trade with any broker.
  • #113
  • Jul 29, 2009 11:52pm Jul 29, 2009 11:52pm
Pipstar,
It is true you DO have to dive in and get a broker (which I have in MBT and am satisfied with them), but I'm always on the lookout for an Aussie Broker (apart from the likes of full broker service like MF Global that charge 12 pips on a turnaround trade 4 in, 4 fee, 4 out on Audusd) that uses MT4 and is as reliable as MBT. But I can be patient.
Then again the criticism of others who have dipped in and tried is not to be discounted. It all has to be put on the scales and weighed up.
Frank
FrankieB
  • #114
  • Jul 30, 2009 3:27am Jul 30, 2009 3:27am
Quoting Frank Basten
Apocalypto,
Thanks for the positive feedback from a person using them as a broker. This is important in making a choice to try them out, as suggested by Pipstar --to have an account and see how they perform. With feedback from present customers, we can get a more balanced picture instead of looking from the outside in. You present information that teases me to try them with a small account and see how they perform.
Cheer,
Frank
Frank,

I do have a live acc with go markets.

That is a live customers experience. What's funny is all the problems being posted are by two people.

Funny, yeh it's a joke as I have never had any issues so I do laugh at all the comments as they never end day after day. with other account holders like myself having a smooth ride. Not sure what internet they have and what style of trading they use but I would say the issue is with them not GoMarkets.

I use two brokers to trade live, I can tell you Go are fine if you want a MT4 broker with a currenex feed that offers micros and minis.

cheers
  • #115
  • Jul 30, 2009 6:49pm Jul 30, 2009 6:49pm
Was interested in trying their demo but their chat tells me they are not taking US money at this time due to our "trading regulations". A slightly different approach than FXCM!

Cheers All
  • #116
  • Jul 30, 2009 10:51pm Jul 30, 2009 10:51pm
Quoting >Apocalypto<
Frank,

I do have a live acc with go markets.

That is a live customers experience. What's funny is all the problems being posted are by two people.

Funny, yeh it's a joke as I have never had any issues so I do laugh at all the comments as they never end day after day. with other account holders like myself having a smooth ride. Not sure what internet they have and what style of trading they use but I would say the issue is with them not GoMarkets.

I use two brokers to trade live, I can tell you Go are fine if you want a MT4 broker with a...
Currenex feed does not = currenex execution or spreads. Micros and minis? On an ECN feed? Do you comprehend what you are saying? I chose not to even look at them due to the guy on the phone, I have no experience in trading with them. But I know the market well enough to say that 1+5 does not = 3.

If you require minis or micros, find a place with a fixed spread so you are only exposed to blatant manipulation which if you catch the broker out, you are generally refunded and the excuse of a bug or something will be used.

If you don't require minis or micros (if you have 50k or more) why not just trade with currenex and ditch the middle man who is trying to skim off the top.

It makes very little sense to use them, they have not targeted a niche, apart from those who want to trade equities futures and fx at the same time on retail but why trade retail futures or equities?. And fortunately ASIC regulates equities and futures strongly so there will be little manipulation.

Always have to ask the question of a companies motive in FX, its the biggest scam market around.
I give credit to them having the nuts to register with the futures exchange though. Wise move, but spot fx is not regulated.
  • #117
  • Aug 2, 2009 7:27pm Aug 2, 2009 7:27pm
Hi Apocalypto,
I have a live account with GOMARKETS and see the charts screwing up on a daily bases. Would like to here if you have seen these. Here is todays example:

http://www.studioe.com.au/tradersgroup/gbp1min.gif

http://www.studioe.com.au/tradersgroup/aud1min.gif

http://www.studioe.com.au/tradersgroup/gbp30min.gif
  • #118
  • Aug 3, 2009 1:09am Aug 3, 2009 1:09am
Have to agree with Jonsey,charts leave a lot to be desired plus the new ECN feed spread is no improvement. I hardly see 3 pip spreads on EJ any more.

Cheers
  • #119
  • Aug 3, 2009 2:50am Aug 3, 2009 2:50am
Jonsey,

Thanks a million for showing us the crazy data feeds.

Almost send in my documents for opening of live account..because I thought of having an ECN mt4 broker....Great job!
  • #120
  • Aug 3, 2009 5:37am Aug 3, 2009 5:37am
Just curious but has anyone even seen prices this far off wack? I bet they are not executing at those prices. I had an issue with ODL one day where they were quoting one price but executing another. I had it fixed within a few hours. Has anyone actually executed at one of those wacky prices? Is this just a problem with loading history?
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