GoMarkets Discussion | Page 92 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Share your experience with GoMarkets.Aud 3 replies

IC Markets, CLM Forex, GoMarkets and Directfx? 0 replies

lower speads between oanda MT4 & gomarkets 0 replies

Opinions on FxPrimus, GoMarkets vs Alpari UK 23 replies

feedback/reviews of GoMarkets? 5 replies

Attachments: GoMarkets Discussion
Exit Attachments

GoMarkets Discussion

  • #1,821
  • Mar 19, 2011 11:44am Mar 19, 2011 11:44am
Quoting Azli1
... Does anyone know if this can be done?

Thanks in advance!
It can be done with offline charts, but that is too slow, as you have to save and reopen the charts each time,

What i do is pull the market watch tick chart across a 22" monitor, works well for me.
  • #1,822
  • Mar 19, 2011 10:07pm Mar 19, 2011 10:07pm
I have another account with other brokers, so when i compare the AUD/USD chart, it is clearly they do not have spike down like GoMarkets AUD/USD charts last friday that would hit the SL instantly. is there any explanation for this one, chris ? All pairs work great though, except AUD/USD.
  • #1,823
  • Mar 20, 2011 1:55am Mar 20, 2011 1:55am
Quoting rooicol
It can be done with offline charts, but that is too slow, as you have to save and reopen the charts each time,

What i do is pull the market watch tick chart across a 22" monitor, works well for me.
Thank you for the advice I'll give that a go
  • #1,824
  • Mar 20, 2011 4:08pm Mar 20, 2011 4:08pm
Good morning Chris,
Following on from my previous post.
http://www.forexfactory.com/showpost.php?p=4484365&postcount=1817
I noticed your server time went from 23:02:05 to 04:00:55 over the weekend.
Also your Spread went from 99.2p to 5.6p over the weekend.
And the price for the AUDUSD from 0.99102 back to 0.99578.
You had a busy weekend???
  • #1,825
  • Mar 20, 2011 4:55pm Mar 20, 2011 4:55pm
Quoting Peter-FX
[font=Times New Roman]Hi Chris, can you please explain.
1. Your spread went up to 99.2p
2. You brought the price down 50pips
3. You closed 1 hour early. 23:02:05
4. You have now changed your server time to 23:52:42
[FONT=Times...
Quoting Peter-FX
Good morning Chris,
Following on from my previous post.
http://www.forexfactory.com/showpost.php?p=4484365&postcount=1817
[color=black][font=Times New Roman][font=Comic Sans MS][size=3]I...
Hi Peter,

As someone else pointed out, we did not close an hour early, but the US clocks changed last week, meaning that 5PM New York is an hour earlier for us. The reason that the server time was then showing as 23:52 when you last looked is because Gold continued to trade up until that point.

On a handful of pairs the last tick of the day came through with very wide spreads, hence the price appearing to fall. Without waiting to hear from our feed providers we took the view that these were incorrect prices and anyone who was stopped out of a position on these prices had the positions reinstated. To fix the prices on display and to ensure the correct calculation of account balances we had to send through a new quote to the system. This came at around Midday on Saturday.

To say we have "lost control of our system" is quite a ridiculous statement. There were single, erroneous ticks on a few pairs - they dont come from our system as we do not set the price. That comes from our feed provider. It has not impacted on anyone as all trades are now unaffected. Of course, we talk to our feed providers and try to get them to fix these issues by removing the offending feed contributor so that they are not able to send through prices to our system again.

I would recommend keeping an eye on the clock changes - you have been a client of ours for a long time now so I would have thought that you would know what happens when the clocks change. Keep in mind that for some of Australia they change in a couple of weeks, so in Melbourne the market will actually be opening at 8AM.

Cheers,
Chris
  • #1,826
  • Mar 20, 2011 4:59pm Mar 20, 2011 4:59pm
Quoting DarkPips
I have another account with other brokers, so when i compare the AUD/USD chart, it is clearly they do not have spike down like GoMarkets AUD/USD charts last friday that would hit the SL instantly. is there any explanation for this one, chris ? All pairs work great though, except AUD/USD.
Hi Dark Pips,

The last tick of the day came through erroneously, which has been corrected but may still show on your chart as it has already been downloaded. Of course any trades caught up in it have been adjusted.

Thanks,
Chris
  • #1,827
  • Edited 7:20pm Mar 20, 2011 5:20pm | Edited 7:20pm
Quoting GoMarkets
Hi Peter,

As someone else pointed out, we did not close an hour early, but the US clocks changed last week, meaning that 5PM New York is an hour earlier for us. The reason that the server time was then showing as 23:52 when you last looked is because Gold continued to trade up until that point.

On a handful of pairs the last tick of the day came through with very wide spreads, hence the price appearing to fall. Without waiting to hear from our feed providers we took the view that these were incorrect prices and anyone who was stopped out of...
Thanks Chris, for your reply.
Good to know this “removing the offending feed contributor so that they are not able to send through prices to our system again.”
The sudden movement of price and spread started after my post on 12/1/2010, I thought you had made the change to stop me from making a profit from the gap.
http://www.forexfactory.com/showpost.php?p=3357551&postcount=13026
Yes I know my fault. I knew New York had changed time but didn’t put 2 & 2 together. Would it be possible for you to either mail members or put it here when start or finish times are due to change, it may help people like me?
Thanks
Peter

Just added this.
Why have I been with you all this time…because you’re an excellent broker and I think you can be trusted to do the right thing.
  • #1,828
  • Mar 21, 2011 2:16am Mar 21, 2011 2:16am
Sorry for my English!
On 16/03/2011 I have blown up an account with 148,000 aud I was applying a spread over 200pip.
MT4 platform indicating prices ever achieved by other Brokers.
I had the following orders 2.8 buy and sell lotti on gbpjpy and 0.04 lots on chfjpy!
I enclose their response so maybe nobody opens an account with them, it is a real scam!
Attached File(s)
File Type: zip statement.zip   64 KB | 338 downloads
File Type: zip 16032011.zip   470 KB | 360 downloads
  • #1,829
  • Mar 21, 2011 2:18am Mar 21, 2011 2:18am
Hello Andrea,

It because the market moved very quickly. You can see the market moved over 800 pips in the space of ten minutes, so for spreads to go out to 200+ pips in that period is not unreasonable. There was panic in FX trade.

By doing the clacs, you had 2.8 lots long and 2.84 lost short. As the spreads widen your equity went down, and as it went below 50% it set of a chain reaction as your highest losing trades were close out. But as you were close out this left less positions hedged so you need more margin to keep the overall trades opened minus the biggest losing trades that were auto closed out. This meant you still stayed below 50% and even closing all trades could not get you back. This is one of the risk of Forex trading, if you had your whole platform delta (fully hedged) you positions would not have been close out.

You can see by the chart that there are no mistakes from Go Markets, the pair did drop quite a few yen in a short time frame, hence why the spread were so wide.
  • #1,830
  • Mar 21, 2011 2:36am Mar 21, 2011 2:36am
Gomarkets spreads of last Thursday were too much high and not justified.
Spreads are not a "standard" value in Forex, they change from broker to broker.
Gomarkets widened spreads in an exaggerated way.
I saw about 100 pips of spread on EURUSD, in the same time Oanda went to 20 pips : http://fxtrade.oanda.com/why/spreads/recent
They will reply that in some moments liquidity is low etc. etc. but I must not pay if they have low liquidity.
  • #1,831
  • Mar 21, 2011 2:46am Mar 21, 2011 2:46am
For this I'm looking for a lawyer who can address the issue.
the problem is that I don't speak English but English!
If someone is in the forex and speaks Italian please contact me!



Quoting positiveday
Gomarkets spreads of last Thursday were too much high and not justified.
Spreads are not a "standard" value in Forex, they change from broker to broker.
Gomarkets widened spreads in an exaggerated way.
I saw about 100 pips of spread on EURUSD, in the same time Oanda went to 20 pips : http://fxtrade.oanda.com/why/spreads/recent
They will reply that in some moments liquidity is low etc. etc. but I must not pay if they have low liquidity.
  • #1,832
  • Mar 21, 2011 2:50am Mar 21, 2011 2:50am
Quoting barnaba
Sorry for my English!
On 16/03/2011 I have blown up an account with 148,000 aud I was applying a spread over 200pip.
MT4 platform indicating prices ever achieved by other Brokers.
I had the following orders 2.8 buy and sell lotti on gbpjpy and 0.04 lots on chfjpy!
I enclose their response so maybe nobody opens an account with them, it is a real scam!
Hi,

Based on your attachments I, and everyone else, can see that your account was not 148,000, and more like $15k, so I am not sure why you would say that. Whether it is for sensationalism or a mistake I do not know.

As everyone knows the market was outrageously erratic at that time with many banks and institutions activating safety spreads as they call them. GBPJPY was arguably the most busy of the pairs, with the price dropping around 6 Yen in 10 minutes.

To accuse us of being a scam is completely incorrect - we pass on the market prices and have no interest in you losing money. To claim, with no foundation that a broker is a scam is not acceptable and is potentially libellous. There are certain rules to posting on forums and there are previous examples of forum posts being used against people in legal proceedings. We obviously now know who you are after posting your account information.

Let me say this again - The prices that came through last week on that busiest of mornings were entirely accurate and we have checked with the providers about that. You can have a look at indicative prices from other brokers - I gave FXintel as an example, but any other spread comparison site will give an idea of spread and price activity.

We are a straight through processing provider and make a rebate for each trade. We have no interest in you losing, it is of no benefit to us. Anyone that says otherwise is 100% false. Wild accusations will not be tolerated by us, as they would not be by any other broker.

If people want to discuss individual accounts and trades then we should be called or emailed, making false statements on a forum does not help anyone, including yourself.

Thanks and have a good evening,
Chris
  • #1,833
  • Mar 21, 2011 3:00am Mar 21, 2011 3:00am
Please note from my esteratto account that 210/05/07 it was verified that the same thing and was corrected by Broker
  • #1,834
  • Mar 21, 2011 3:05am Mar 21, 2011 3:05am
As you can see from the annex neither broker using (Real) did Your prices!
The difference is greater than 100pips



Quoting barnaba
Please note from my esteratto account that 210/05/07 it was verified that the same thing and was corrected by Broker
  • #1,835
  • Mar 21, 2011 3:12am Mar 21, 2011 3:12am
I just want to throw somethign into this I to was effected by the extremely wide spreads but not on Yen pairs more so on EU and GU.
By the look of the charts and ppl I have spoken to GO went out to atleast 100 pips, I have looked through many other charts for many brokers and have not seen anything near this spread.
So what happens in the future there will be earth quakes etc in the future mark my words.
So now we have to allow for 200 pips spreads on the majors well whats the point, this kind of thing can happen anytime so what do you do with open positions, most positions will not have a 250 pip stop so another words can be stopped out at anytime due to spread volitility not to mention margin. I can understand more so the Yen pairs going nuts coz it was Japan effected I dont understand why EU and GU should blow out so much?
  • #1,836
  • Mar 21, 2011 3:21am Mar 21, 2011 3:21am
The same behavior I had date 2010/ 05/07 then as seen by the statement in annex I have restored the account!
Even their website should say the spred maximum does not exist, it can also be 1000pip!
  • #1,837
  • Edited 9:20am Mar 21, 2011 3:24am | Edited 9:20am
Quoting sutters
I just want to throw somethign into this I to was effected by the extremely wide spreads but not on Yen pairs more so on EU and GU.
By the look of the charts and ppl I have spoken to GO went out to atleast 100 pips, I have looked through many other charts for many brokers and have not seen anything near this spread.
So what happens in the future there will be earth quakes etc in the future mark my words.
So now we have to allow for 200 pips spreads on the majors well whats the point, this kind of thing can happen anytime so what do you do with...
Yes, also I saw about 100 pips of spread on EURUSD, and I've not seen such spreads on other (serious) brokers.
In these conditions a broker should send an "off-quotes" to clients freezing all positions for the minutes of uncertain price.
But it's more remunerative to burn accounts.
  • #1,838
  • Mar 21, 2011 3:29am Mar 21, 2011 3:29am
Notice the difference in statement in date 16/03/2011 between buy and sell orders on gbpjpy 124.783 and 120.988
  • #1,839
  • Mar 21, 2011 7:31am Mar 21, 2011 7:31am
So next time there is high spread, it is alright according to gomarket because they are "Straight through processing"
it is not normal.
  • #1,840
  • Mar 21, 2011 9:35am Mar 21, 2011 9:35am
Max Spread..gbpjpy??????
http://www.gomarketsaus.com/what-is-...forex-spreads/


Quoting MoreYummy
So next time there is high spread, it is alright according to gomarket because they are "Straight through processing"
it is not normal.
5 traders viewing now