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First Australian MT4 broker?

  • #121
  • Aug 3, 2009 4:52am Aug 3, 2009 4:52am
I received a message from Go Markets which they sent out to everyone stating that all trades that were affected by these spikes have been corrected. Although I was not affected as I didn't have any positions opened. There has been something similar with other brokers in the past and oanda comes to mind but they always end up correcting the trades to the right price.
  • #122
  • Aug 4, 2009 5:37am Aug 4, 2009 5:37am
From: Chris Reynolds - Go Markets
Date: 2009.07.29 08:52
Subject: FX Feed

Dear Client,
Please note you may on some occasion be seeing some spreads different to that which you would normally see. This is a minor problem coming through directly from our FX feed provider. It is being dealt with, but we would like to stress that all prices are still 100% accurate and reflective of the market at any time and should not upset your trading in anyway.
Regards,
Go Markets

I've had a live account with them for over 6 months and I see crazy spikes on a regular enough basis and the charts do screw up quite often, but they tend to correct it after. It happens to a lot of brokers though. I've talked to the representative over the phone and true enough he seemed desperate to make me stay and was a little rude sometimes, but I have to say they haven't done all that bad overall.
Is there anyone here trading on different brokers/platforms other than MT4? I came across this broker called GFT the other day and they seem to offer really competitive spreads. No MT4 though.
  • #123
  • Aug 9, 2009 9:03pm Aug 9, 2009 9:03pm
This Broker Crap

They calls them Selfs NDD, and doing ads "Dont let dealers catch you" come trade with US

But they truth they such a crap

They call 3 of my friends and asked them To Stop Trading with them
*coz they made alot of cash by trading with them !
Charting Markets into the Future...MǎҖ€¥.
  • #124
  • Aug 10, 2009 1:10am Aug 10, 2009 1:10am
Mmmmm I have to disagree I have been making good money ever since being with them and I have been with them for about 6 months now and I draw out 1000.00 on a weekly basis with no problems what so ever and make more than that a week.
Your friends must have had some illegal trades, I have noticed there GU price was stalling there for awhile and if they were trading that with big size its prob no wonder.
  • #125
  • Aug 10, 2009 2:44am Aug 10, 2009 2:44am
lol what means of illegal trades !

Quoting sutters
Mmmmm I have to disagree I have been making good money ever since being with them and I have been with them for about 6 months now and I draw out 1000.00 on a weekly basis with no problems what so ever and make more than that a week.
Your friends must have had some illegal trades, I have noticed there GU price was stalling there for awhile and if they were trading that with big size its prob no wonder.
Charting Markets into the Future...MǎҖ€¥.
  • #126
  • Aug 11, 2009 12:57am Aug 11, 2009 12:57am
Yeah lol illegal prob wrong word for it but trading at prices that arnt at market, there platform was delaying the quote for the pound there for a few days and you could have really takin advantage of it.
  • #127
  • Aug 11, 2009 1:43am Aug 11, 2009 1:43am
Nope we were not trading that delay error, if i know i would

EVEN IF WE WAS... since gomarket executed this trades.. so they take responsible for that, since client open and close his order successfully so its done, broker dont have right to complain and crybabe

Quoting sutters
Yeah lol illegal prob wrong word for it but trading at prices that arnt at market, there platform was delaying the quote for the pound there for a few days and you could have really takin advantage of it.
Charting Markets into the Future...MǎҖ€¥.
  • #128
  • Aug 11, 2009 3:25am Aug 11, 2009 3:25am
For what its worth I have been trading live with go markets for 5-6 months. account open in 24 hrs. They trade micro lots which i prefer. Twice i have had trades taken out by wild spikes, have phoned them and were corrected immediately. My trades are fairly long term and i think this helps with this broker. Feed has dropped out on occasion but was while they were getting this new feed up so maybe I can cut them some slack there. Was only down for very short periods but this would not be fun for scalpers. Overall I will stick with them for now and would give them 7/10 rating.
GFT is another reasonable broker but no mt4 and no good for scalping or news trading, fills were atrocious, also the accounting side of things was a nightmare. I just could not understand any of it at all. The platform is reasonable though and would give them 6/10 rating.
I also have an account with IG Markets. Overall they are the best in my experience to date. But they have no mt4 and only trade mini lots, no micro lots.If they had micro lots even with no mt4 they would be my choice overall and would rate them 8/10.Have been trading on and of with IG for approx 5 years.
Hope this helps.

Perry
  • #129
  • Aug 11, 2009 4:59am Aug 11, 2009 4:59am
Quoting perryg
For what its worth I have been trading live with go markets for 5-6 months. account open in 24 hrs. They trade micro lots which i prefer. Twice i have had trades taken out by wild spikes, have phoned them and were corrected immediately. My trades are fairly long term and i think this helps with this broker. Feed has dropped out on occasion but was while they were getting this new feed up so maybe I can cut them some slack there. Was only down for very short periods but this would not be fun for scalpers. Overall I will stick with them for now and...
Go Markets - ok broker. But if you trade during news they will eventually call you and ask you to stop.
GFT - Crap broker. They will hold your trades pending during fast markets and fill you at worse price so you blow your account during retrace. They won't let you close the trade either until margin call.
IG Markets - Not worth the effort. You will never get a fill when the market is moving fast.
  • #130
  • Aug 11, 2009 5:54am Aug 11, 2009 5:54am
Have to agree with pipstar on GFT and IG unless you on DMA with IG but there java platform is the crappiest thing in fact any java platform I have ever used is crap, just not up to the job.
I have traded news with Go and they have been ok but I dont do alto of it now I must admit.
  • #131
  • Aug 12, 2009 4:23am Aug 12, 2009 4:23am
Thanks for the input on GFT guys, been contemplating if it would be a good choice to sign up with them due to competitive spreads; don't think I will now.
  • #132
  • Aug 13, 2009 1:37am Aug 13, 2009 1:37am
Quoting PipStar
Go Markets - ok broker. But if you trade during news they will eventually call you and ask you to stop.
GFT - Crap broker. They will hold your trades pending during fast markets and fill you at worse price so you blow your account during retrace. They won't let you close the trade either until margin call.
IG Markets - Not worth the effort. You will never get a fill when the market is moving fast.
Hi Pipstar
Your points are all fair enough but where does that leave us. Who do you use that doesn't do these things. My experience they are all a bit average but what choices do we have. As far as news trading is concerned I am yet to find a broker that doesn't shaft you. I personally gave up news trading completely as I just got sick of getting kaned by brokers even though my analysis was good. Do you have a broker that has produced the goods for you in these trading scenarios and if so I am keen to know who so I can open an account.
p.s I remember ig were like that around fast markets but have been trading longer term strategies with them and have had no dramas.
cheers
perry
  • #133
  • Aug 13, 2009 3:00pm Aug 13, 2009 3:00pm
My opinion Go Markets has an untradeable data feed which I keep hearing is going to be fixed. Forget the spread ,if spikes pop up only on their feed you have to wonder who is jerking who off !!
  • #134
  • Aug 13, 2009 6:59pm Aug 13, 2009 6:59pm
Yeah starting to wonder when the spreads are going to be fixed aswell they are terrible at the moment and have been for a while.
  • #135
  • Aug 14, 2009 4:29am Aug 14, 2009 4:29am
Quoting perryg
Hi Pipstar
Your points are all fair enough but where does that leave us. Who do you use that doesn't do these things. My experience they are all a bit average but what choices do we have. As far as news trading is concerned I am yet to find a broker that doesn't shaft you. I personally gave up news trading completely as I just got sick of getting kaned by brokers even though my analysis was good. Do you have a broker that has produced the goods for you in these trading scenarios and if so I am keen to know who so I can open an account.
p.s I remember...
Perry, I don't have a broker to recommend but I think that FXDD, Forex.Com, Go Markets are quite ok although you will never find the perfect broker.
  • #136
  • Aug 14, 2009 4:30am Aug 14, 2009 4:30am
Quoting sutters
Yeah starting to wonder when the spreads are going to be fixed aswell they are terrible at the moment and have been for a while.
Just received a message from Go Markets in my mail box saying they are adding new liquidity providers and tightening spreads. Let's wait and see.
  • #137
  • Aug 15, 2009 1:28pm Aug 15, 2009 1:28pm
Pipstar and Perry,
I would like an Aussie broker that offers what MB Trading offers here on our shores, but in the end, I think you have to wean yourself off MT4 brokers as the place to lodge your trades. The problems discussed here are endemic to most if not all Mt4 brokers, from my reading of people's experiences and what I have seen on the various demos I have tried (and that would be over a dozen at one stage). In the end, the recipe spoken of by many subscribers to this site seems to be the best option, -- do your analysis using MT4 and do your trading on the Navigator of MB Trading. The spreads are always close and they never stall on news releases, and their maintenance schedules have been recently reduced to one per day, and that is at rollover time, which is quiet anyway.
So it is either the choice of being frustrated with spreads, frozen platform and erratic feeds, or either waiting a few days for a cheque from the States. You have to weigh up which inconvenience is more irritating.
Frank
FrankieB
  • #138
  • Aug 15, 2009 6:15pm Aug 15, 2009 6:15pm
Frank, at the end of the day the best thing to do is to use several brokers which is what I do. They all have strenghts and weaknesses. No one should rely on one broker alone in my opinion. There is fault with every single broker I use but I still make money.
Even with MB Trading, I am not completely satisfied as it is hard to get a fill from them in fast markets and their leverage is low at 100-1. I am waiting for their metatrader to be live to give them another go.
  • #139
  • Aug 15, 2009 7:41pm Aug 15, 2009 7:41pm
Personally I think there is always a bone to pick whichever broker we are with. The only way to avoid those crazy spikes, spread and requotes is to trade on higher TF, which is what I do. I stay away from those whipsaws and news.

Happy trading

Z
  • #140
  • Aug 16, 2009 5:56am Aug 16, 2009 5:56am
Been looking at several forums and decided to actually make a post. I've been using Go Markets for a few months now and i should say that all in all it has been a good experience. I've made a few hundred bucks so far, which is nothing to retire on, but it is a start!

Yes, there have been hiccups along the way (some from my end as well!), but they seem to be good at smoothing any bumps in the road. I got caught out on a spike on cable a few weeks back which lost me a chunk of my account but they quickly fixed up the trades for me. I guess that is all you can ask for... that if there are problems they sort them out. I called them and asked about spreads as they seemed a little wide and they informed me they are getting some new feed or whatever, then I got an email about added liquidity, so will be good to see how that works. Spoke to some Kiwi guy and he seemd to know what he was talking about, so hopefully he wasn't talking rubbish!
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