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  • #721
  • Jul 20, 2010 3:10pm Jul 20, 2010 3:10pm
The "spike" question is not 100% clear , on EUR-USD for example I had a look at the historical graphs on a broker with MT4 demos, but I have not seen particularly large spike indeed all seem pretty content.

Unless it is possible that these large spikes occur and there are also held regular exchanges, but then fail to appear more 'on the historical graphs, and the opinion here would broker what if' can be and can happen, or if instead of a regular exchange must necessarily appear in the graphs.

If anyone has exact day / time with large spike in EUR-USD and major cross please report it.

A Question for gomarkets, you plan the extension of payment methods, particularly useful for international customers that could 'avoid costly and slow international transfers, adding cards credit / debit and Paypal Moneybookers eWallet type and so on.

regards
  • #722
  • Jul 20, 2010 4:14pm Jul 20, 2010 4:14pm
Is anyone else getting these spikes? They aren't fast, you can see the last one develop on a 1 minute chart.
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FF journal: Peaks and Troffs
  • #723
  • Jul 20, 2010 5:23pm Jul 20, 2010 5:23pm
This is clearly a wrong price, so all affected trades will be fixed up very shortly. If this has happened to you, please email your details to me if you do not see it rectified very shortly.

Please be aware that we are contacting the feed provider to find out what the issue is due to the fact that they have sent two very similar wrong prices through to the market on consecutive days at the same time.
  • #724
  • Jul 20, 2010 5:25pm Jul 20, 2010 5:25pm
GO MARKETS. Why are these spikes only appearing on Your charts? This type of thing has happened on multiple occasions.
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Annoying Precision
  • #725
  • Jul 20, 2010 5:30pm Jul 20, 2010 5:30pm
Good Idea


Quoting GoMarkets
This is clearly a wrong price, so all affected trades will be fixed up very shortly. If this has happened to you, please email your details to me if you do not see it rectified very shortly.

Please be aware that we are contacting the feed provider to find out what the issue is due to the fact that they have sent two very similar wrong prices through to the market on consecutive days at the same time.
Annoying Precision
  • #726
  • Jul 20, 2010 5:33pm Jul 20, 2010 5:33pm
Quoting erikte279
GO MARKETS. Why are these spikes only appearing on Your charts? This type of thing has happened on multiple occasions.
As I just said above, this spike is wrong and is being removed. It is also very likely that this institution will be removed from our price feed. It has only happened in the last two days, but the end result is that no client will be worse off as all trades will be rectified.
  • #727
  • Jul 20, 2010 5:50pm Jul 20, 2010 5:50pm
Quoting GoMarkets
Hi,

Interest on accounts is something which in the past we didnt really look at as most of the funds held on clients accounts were being used for trading and to cover open positions so was not free funds, however if clients have some surplus funds that arent being used for trading then maybe that could be interest bearing.
You are correct Australia does have a good interest rate for saving compared to many countries so I will put it to powers that be to consider interest on accounts and get back to you asap.

Cheers
Hi Chris/GoMarket

Let's assume A trader has deposited AUD 10000 into GoMarkets deposit account and from that initial deposit AUD 5000 are used up for margin requirement to be able to trade.
The other AUD 5000 are there to have a saftey net in place for the "just in case" scenario never mind they just sitting in GoMarkets interest bearing account. Furthermore lets assume GoMarket gets paid monthly by NAB 2% interest p/a for the remaining AUD 5000 which is by the way very very low, your statement of having low spreads are then in reality not that low anymore. You stated at numerous treads that you only make money true spreads but this is obviously not the case as you also get paid interest of non used clients funds.
Many overseas clients do not realize that Australian Banks are paying top rates on accounts just google ANZ, Bankwest, NAB, Commonwealth Bank, Westpac to name a few and most readers will start to questioning a few things. I may sound annoying to you as a sunny morning just begins here in Melbourne but my intention of brining this subject up again is that its important for any serious trader to compare real cost (added up) charged by their broker.
  • #728
  • Jul 20, 2010 5:57pm Jul 20, 2010 5:57pm
Hi,

Yes it is a sunny Melbourne morning but i dont mind the questions its all part of the job.

Firstly we do have very low spreads and very honest swap rates so that does keep us very competitive but I quite understand that traders want more so as mentioned I have passed on forum thoughts to management regarding interest on accounts.
I would stress that they will do an industry comparison and see what other forex providers are doing regarding interest on accounts. lets face it we have to keep client funds on instant access in trust accounts so clients can access funds at any time on demand so interest rates are not as competitive for that type of arrangement but if something can be done then we will look at it.

Cheers
  • #729
  • Jul 20, 2010 6:23pm Jul 20, 2010 6:23pm
Quoting GoMarkets
Hi,

Yes it is a sunny Melbourne morning but i dont mind the questions its all part of the job.

Firstly we do have very low spreads and very honest swap rates so that does keep us very competitive but I quite understand that traders want more so as mentioned I have passed on forum thoughts to management regarding interest on accounts.
I would stress that they will do an industry comparison and see what other forex providers are doing regarding interest on accounts. lets face it we have to keep client funds on instant access in trust accounts...
Thank you for replying so quickly. Personally for me it is not the point of wanting more or less it is simply that traders funds are held by NAB paying interest to you as an account holder. In todays world no intelligent business would deposit any funds in a bank account paying no interest especially here in Australia so I assume you get paid a monthly amount of interest calculated on a daily basis. As you do not pass any interest earned on unused funds by the client the real costs are then Spread + Interest. Of course you will find that not many brokers outside Australia will pay any interest as their official rates are at rock bottom so not much off a point to compare. Anyway thats just food for thought.
  • #730
  • Jul 20, 2010 6:28pm Jul 20, 2010 6:28pm
Quoting GoMarkets
This is clearly a wrong price, so all affected trades will be fixed up very shortly. If this has happened to you, please email your details to me if you do not see it rectified very shortly.

Please be aware that we are contacting the feed provider to find out what the issue is due to the fact that they have sent two very similar wrong prices through to the market on consecutive days at the same time.
Thanks Chris.
FF journal: Peaks and Troffs
  • #731
  • Jul 20, 2010 8:21pm Jul 20, 2010 8:21pm
Hi Chris,

While we’re talking about banks and interest rates, may I bring up another point that may be possible or not.

Is it possible to have our account with you split into two and have it setup as one part of the account to be as seen on MT4 Balance of trading account and the other part to be sitting there, not trading and not at risk, but can be used for instant transfer to the trading account if necessary? Or if we wish to move some profit from the Trading account to the safe account.

We would need to be able to access both parts of the account.

Just a thought.
  • #732
  • Edited 9:29pm Jul 20, 2010 8:59pm | Edited 9:29pm
Oanda gives you tighter spreads, faster execution, interest on balances and swap calculated continuously, not just once a day on rollover. Even an ECN, with tighter spread, costs more because of commission.
Last night I went to close a trade with Go which had 10 pips, $100 profit. The order hung there until I had 5 pips and $50 profit before executing. That is not instant execution.
I think Go would be fine for longer term trading if it paid interest. It is less than ideal for intra-day due to spread and execution delay. In their favor is their willingness to communicate here. I dont need the margin or hedging so Im going back to Oanda. I have never had to call Oanda about a dubious price spike in the two years I have been with them. It was a regular occurence with CMC markets and to a lesser extent, I.G markets. I was able to get the actions reversed only after some irate badgering. I certainly dont want to go down that path with a broker ever again, there is no excuse for it. Evidently, Go markets seems to be both delaying execution, and miss quoting price. I did not experience the latter in the month I tried them. The $25 I have got to pay for the international transfer to Oanda is worth the peace of mind.
BTC Return This Year: na
  • #733
  • Jul 20, 2010 9:09pm Jul 20, 2010 9:09pm
Can we use eas on L-plate accounts? On the website it states we can.

Keep getting 'Trade is disabled' journal error, which from what I understand is caused by broker/server not allowing eas.

Already re-started, re-downloaded mt4 all boxes ticked and naughts crossed, eas work fine on other accounts.

Been waiting for a few hours for a reply to an inquiry, anyone here know?
  • #734
  • Jul 20, 2010 9:18pm Jul 20, 2010 9:18pm
Quoting Peter-FX
Hi Chris,

While we’re talking about banks and interest rates, may I bring up another point that may be possible or not.

[size=3][font=Comic Sans MS]Is it possible to have our account with you split into two and have it setup as one part of the account to be as seen on MT4 Balance of trading account and the other part to be sitting there, not trading and not at risk, but can be used for instant transfer to the trading account if necessary? Or if we wish to move...
Yes, this is very easy, but with one limitation. Funds can only be transferred during business hours. Just email the accounts team to get a second account and it will be done very quickly.
  • #735
  • Jul 20, 2010 9:28pm Jul 20, 2010 9:28pm
Quoting M.A.C.Doug
Oanda gives you tighter spreads, faster execution, interest on balances and swap calculated continuously, not just once a day on rollover. Even an ECN, with tighter spread, costs more because of commission.
Last night I went to close a trade with Go which had 10 pips, $100 profit. The order hung there until I had 5 pips and $50 profit before executing. That is not instant execution.
I think Go would be fine for longer term trading if it paid interest. It is less than ideal for intra-day due to spread and execution delay. In their favor is their...
I haven't heard of anyone calling us and talking about slow execution of late, so I assume you have only asked on here and not contacted us directly. It would be great if you could take a look at the journal and see how long it shows orders taking to execute on that. We can also check the server journals for comparison.

I seem to remember about 2 weeks ago you posted and were very happy with everything, so seems strange for you to suddenly experience a problem.

When you say misquoting prices, are you referring to the spike in the last two days? If so, these have been fixed, no clients have been negatively affected, so if it was the case that we were misquoting prices, it would be a futile exercise and just create additional work for everyone, thus absolutely pointless.

Let me say for the umpteenth time, if you have a problem call me and I will look into it. If you have a trade enquiry, call me and it will be fixed if the price is inaccurate.

Posting on the forum is fine for asking questions, but I do not know how many times I need to say that we can't look at problems if you dont call us and ask us directly, funnily enough we don't know your names and account numbers from your forum names!
  • #736
  • Jul 20, 2010 9:29pm Jul 20, 2010 9:29pm
Quoting dazers
Can we use eas on L-plate accounts? On the website it states we can.

Keep getting 'Trade is disabled' journal error, which from what I understand is caused by broker/server not allowing eas.

Already re-started, re-downloaded mt4 all boxes ticked and naughts crossed, eas work fine on other accounts.

Been waiting for a few hours for a reply to an inquiry, anyone here know?
There is an easy explanation for this - on L-plate accounts you need to trade and look at charts for the symbols ending with m, for example EURUSDm not EURUSD.

Let me know if that is not clear or doesn't fix the problem.
  • #737
  • Jul 20, 2010 9:50pm Jul 20, 2010 9:50pm
Quoting GoMarkets
Yes, this is very easy, but with one limitation. Funds can only be transferred during business hours. Just email the accounts team to get a second account and it will be done very quickly.

Thanks, that sounds good.

One other question; if I use PayPal and transfer from PayPal to my Trading account, how long does this take?

I realise I would need to change my account name as you refunded me last time I tried this. However, it only took 1 hr and you had refunded me. Does this mean it would only take about 1 hr to transfer money from my PayPal account to my trading account? The reason I ask this is that when I transfer money from PayPal to my bank, it takes about 5 days, even though PayPal sends an email immediately saying it has been transferred. Because if PayPal only takes about 1hr, that would be the best answer to quick transfer.

Thanks in advance.
  • #738
  • Jul 20, 2010 9:56pm Jul 20, 2010 9:56pm
when do you going to have us base office?
  • #739
  • Jul 20, 2010 10:35pm Jul 20, 2010 10:35pm
Quoting Peter-FX
Thanks, that sounds good.

One other question; if I use PayPal and transfer from PayPal to my Trading account, how long does this take?

[size=3][font=Comic Sans MS]I realise I would need to change my account name as you refunded me last time I tried this. However, it only took 1 hr and you had refunded me. Does this mean it would only take about 1 hr to transfer money from my PayPal account to my trading account? The reason I ask this is that when I transfer money...
Hi,

If you make a request to withdraw funds that you deposited from Paypal then as long as that request is made before the end of a usual business day then the funds should be clear in your bank by the next morning maybe sooner and if you are overseas then it can take up to 48hours for the funds to be cleared back in your account but it is usually much quicker.

Cheers
  • #740
  • Jul 20, 2010 10:41pm Jul 20, 2010 10:41pm
Quoting trendbreak
when do you going to have us base office?
We are adding a North America data centre within days to assist trading from that region.
We do have plans to expand with overseas offices very shortly, subject to regulatory approval as it will have to be in countries with strong regulatory framework but exact locations are being finalised and again to stress the point this is subject to regulatory approval

Cheers
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