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GoMarkets Discussion

Quoting Smoko
Thanks Spaiz, for your constructive comments. I have 4 laptops at home (from fast to very fast) and the fastest broadband. I have actually tried all that you mentioned and it's the same.
I won't justify Darogold's comments.
It is afterall a forum for Q&A, not just a friendly chat room.


Chris, I have had serious problems with the software provided by GO, whether it's hedgefunds or the software or OS (W7) that creates the slippage should not be my problem.

I don't know why you went on the defensive stating I shouldn't have a say
on this forum...

Cannot comment on the slippage, but my service used to freeze often, usually at news times. Sometimes it was frozen for minutes at a time and the connection would drop out as well. When I reported it here, i was effectively argued down by others who said their connection was solid.

Eventually, following advice from someone on this forum, I deactivated the data center auto config in the MT4 tools/option/server menu and manually entered the DC ip address. In my case it was 118.127.74.114:443 . Since that time, my outages have been minimal.
Quoting Mpt
...Eventually, following advice from someone on this forum, I deactivated the data center auto config in the MT4 tools/option/server menu and manually entered the DC ip address. In my case it was 118.127.74.114:443 . Since that time, my outages have been minimal.
If connecting to DC in Australia you can actualy choose between one of two services:
GoMarkets 'Real/Live' Server (1) » 118.127.74.114:443 or Server (2) » 114.111.146.203:443
I'm not sure, which of them is in Sydney or in Melbourne.
Quoting Mpt
Cannot comment on the slippage, but my service used to freeze often, usually at news times. Sometimes it was frozen for minutes at a time and the connection would drop out as well. When I reported it here, i was effectively argued down by others who said their connection was solid.

Eventually, following advice from someone on this forum, I deactivated the data center auto config in the MT4 tools/option/server menu and manually entered the DC ip address. In
my case it was 118.127.74.114:443 . Since that time, my outages have been minimal.
Thanks Mpt, I'll try that and let you know if it helps.
I'll try Marek's other ip address as well.
I should notice if there is any significant difference.

cheers
Quoting Mpt
When I reported it here, i was effectively argued down
by others who said their connection was solid.
I did not mean to argue him down, just suggestions that might or might not fix his problems. No flames intended
Quoting spaizkadett
I did not mean to argue him down, just suggestions that might or might not fix his problems. No flames intended
No, not all. I was referring to my own experience. Sorry if my comment was taken the wrong way. We will see if that "fix" worked for him. If it does, I would love to understand why, because my connection is now pretty good.
Hi Guys,

I just thought I would apologise for the delay in getting the MetaTrader 5 demo up and running. As I said earlier this week we were waiting for MetaQuotes to do their thing. We have been informed that they will install the software over the weekend so we will do the final configuration on Monday and will hopefully make it available towards the middle of next week.

Have a good weekend.

Cheers,
Chris
Quoting GoMarkets
Hi Guys,

I just thought I would apologise for the delay in getting the MetaTrader 5 demo up and running. As I said earlier this week we were waiting for MetaQuotes to do their thing. We have been informed that they will install the software over the weekend so we will do the final configuration on Monday and will hopefully make it available towards the middle of next week.

Have a good weekend.

Cheers,
Chris

Hi Chris what would be the advantage of MT5 as oppose to MT4.

Also, do you know if and / or when the android app will be able to show the same chart as we see on the GO MT4 platform, with all the custom indies etc.

Thanks
Ezzy
What you do is a reflection of you....what I do is a reflection of me.
Yeah, I'm also curious to know why brokers are toying with MT5. It doesn't seem much better (if better at all) than MT4 aside from more accessible language for encoding EAs. That aside, metaquotes went and barfed on our brains all at once when they failed to enable us to bring EAs and indicators from MT4 to MT5 which would have seen MT4 just flap away in the wind.

Has there really been a notable desire expressed for MT5 or is GM just kinda following the pack and throwing it up for traders because it has a 5 on the end of it rather than a 4.
Quoting barnaba
I was also happy with Go Markets, until I blew up the account with a spread greater than 200pips, with a margin of about 28000% and an account balance of about 12200 Aud!
Now I opened the dispute see, but I also know that I use and no other broker in what had spread!
You can see everything in my previous post!
Why have Go markets ignored this complaint?
Can I expect 100+ pip spread widening exclusive to your feed if i fund my account with you? I know traders often blame brokers for their own errors so that even the best brokers get bad reviews but, I am leaving Oanda because of 3-4 pip spread widening.You can understand my concern about this
They haven't ignored it. GO explained that it was an error in one of their data feeds if i recall correctly and that in most cases, they couldn't really do anything about the problems suffered by some customers. They've taken steps to ensure that same error doesn't happen again but where a market maker has an advantage over a broker like GO, the Market Maker can try to make their own prices and spreads in some cases. GO doesn't have it's own liquidity pool in which it can do that either to your advantage or disadvantage.

GO Markets is a broker, not a liquidity provider. If the best market price widens all of a sudden by 200 pips, what are they supposed to do? Give you a quote that puts THEM 200 pips in the red?
  • Post #2,351
  • Quote
  • Edited Jul 2, 2011 12:05am Jul 1, 2011 11:42pm | Edited Jul 2, 2011 12:05am
I do apologize

I have since gone back in the thread and realised this complaint had been running for sometime and Go Markets had, very thoroughly, responded to every aspect of the complaint. They did all they could to see if they could help, even removing a liquidity provider to improve the situation should it happen again. It will happen again and that is part of the risk. Another natural disaster, terrorist strike, nuclear emergency are all part of the risk of holding positions. I mitigate that risk by quick, in/out trading but you cant eliminate the risk completely. I feel for the traders who lost but let this be a lesson to all of the true nature of trading
Quoting Wacky Canuck

GO Markets is a broker, not a liquidity provider. If the best market price widens all of a sudden by 200 pips, what are they supposed to do? Give you a quote that puts THEM 200 pips in the red?
Then y other brokers didnt have same wide spreads ?! nice try , i am not born yesterday ...
Quoting tar
Then y other brokers didnt have same wide spreads ?! nice try , i am not born yesterday ...
I would be very interested to see some proof of this. Do you have any?
I wasn't making aggressive trading had 2.8 lots buy and sell on Gbpjpy and 0.04 lots on chfjpy, however is a different matter I use also other Broker and I had the same technique but have not registered at that time the same spreads and prices!
You are not talking about differences of 1-2 pips but over 200pip,
However now there is a dispute and then hopefully I will continue with the case in court because it is not a small sum of money
!


Quoting M.A.C.Doug
I do apologize

I have since gone back in the thread and realised this complaint had been running for sometime and Go Markets had, very thoroughly, responded to every aspect of the complaint. They did all they could to see if they could help, even removing a liquidity provider to improve the situation should it happen again. It will happen again and that is part of the risk. Another natural disaster, terrorist strike, nuclear emergency are all part of the risk of holding positions. I mitigate that risk by quick, in/out trading but you cant eliminate...
Go markets promote themselves as having among the tightest spreads available. It appears in your case that the opposite is true. I think some responsibility does lie with them. They have admitted as much by eliminating a liquidity provider that caused the problem.
You must accept the responsibility for the losses that would have been incurred regardless of which broker you were using. That was part of the market conditions at the time.
Go markets could refund the difference between the losses based on an average of other brokers quotes and their own pricing.
Would a deal like this be acceptable to you, as a quick and fair resolution?
Quoting tar
Then y other brokers didnt have same wide spreads ?! nice try , i am not born yesterday ...
A number of others brokers DID have the same wide spreads. Some brokers however compensate their clients. GO does not and frankly, i don't fault them for that. When FXCM for instance does reimburse their clients for data feed errors from the banks. they make note that they are doing so at a loss and that their TOS in fact gives them the right to deny these requests but they are big enough and take enough off the top already (that's not how they phrase it) through less than impressive spreads, that they can afford this. GO doesn't do that. They get a rebate for trades that go through them rather than adding a pip into the spread for their own profit.

Other brokers as well may not have wide spreads but something even worse, requote after requote after requote. A market maker broker wouldn't have the widened spreads because they have their own liquidity pool but perhaps your platform freezes you out or something else happens which would impede your trading.

I'm not an expert and I'm not trying to make excuses. I'm a client of GO, not an employee. All I'm saying is that from where I sit and from what I've seen, GO, quite reasonably, takes the position that they are a broker and funnel prices to the trader through their servers. If there is a half pip spread, you'll get quoted at half a pip of spread and if there is a 200 pip spread, you'll get quoted on a 200 pip spread.

The one problem I do have with this set up is that GO seems to have no power to go to the liquidity provider to demand compensation to be passed on to their clients but then what can they do about that? "Hey, our clients are all going to leave and go to another retail broker that also uses your liquidity pool if you don't fix this!" Doesn't seem like the most substantial threat to me.
Quoting Wacky Canuck
GO Markets is a broker, not a liquidity provider. If the best market price widens all of a sudden by 200 pips, what are they supposed to do? Give you a quote that puts THEM 200 pips in the red?
You can be as apologetic for Go Markets as you wish. Although someone on this thread keeps claiming to have seen a spread of over 200 pips when he was once working on the London desk of another broker the reality is that it just doesnt happen unless the sky is falling in. And we've seen nothing to justify that kind of spread in recent times. A spread that wide should be able to be referenced with other brokers and if its not happening with other brokers then it is bogus, simple as that. I trade both forex and currency futures and even in futures which is the real market, I have never been filled 200 pips away. Get real!!!
I've been following the tech analysis emails, but wondered if I could get a web login as well? I've got one from another broker, that I have been trying out, but thinking of closing that account.

I'm not normally into technical analysis, but I have found it pretty useful.
Quoting Wacky Canuck
Yeah, I'm also curious to know why brokers are toying with MT5. It doesn't seem much better (if better at all) than MT4 aside from more accessible language for encoding EAs. That aside, metaquotes went and barfed on our brains all at once when they failed to enable us to bring EAs and indicators from MT4 to MT5 which would have seen MT4 just flap away in the wind.

Has there really been a notable desire expressed for MT5 or is GM just kinda following the pack and throwing it up for traders because it has a 5 on the end of it rather than a 4.
Perhaps go can elaborate. But mt5 will bring lots to the table in terms of enhanced programming ability. One of the big advantages for automated traders is the ability to close out open trade much quicker vs closing out each ticket individually. Unfortunately, it will mean no backwards compatibility with mt4, but with software sometimes you have to make those hard choices. No different that other major developers. The good news is that because mql5 is more in line with C++, it should be no problem with future version compatibility

Mt5 will NOT replace mt4, it will be offered as an additional platform choice.
Measure trends automatically with zero lag
Quoting ybfjax
Mt5 will NOT replace mt4, it will be offered as an additional platform choice.
I understand that MT5 is good from a programming standpoint, but also that very few have used MT5 and put up rave reviews about it. Perhaps as more becomes available for MT5, it will become more appealing but for now, it doesn't seem all that great to people like me.

Quoting PipStar
You can be as apologetic for Go Markets as you wish. Although someone on this thread keeps claiming to have seen a spread of over 200 pips when he was once working on the London desk of another broker the reality is that it just doesnt happen unless the sky is falling in. And we've seen nothing to justify that kind of spread in recent times. A spread that wide should be able to be referenced with other brokers and if its not happening with other brokers then it is bogus, simple as that. I trade both forex and currency futures and even...
I'm not being apologetic, I think I'm being realistic. As I said, GO is not a liquidity provider. What are they supposed to do when the spread widens in the liquidity pool? It's an instant communication, electronic data feed. The quotes you get on your screen are the quotes they get on theirs. I don't see how they are supposed to "fix" that. If they decide to manipulate the price feed, say for instance by limiting the amount that the spread can widen, they are taking on all the risk and you take on none of it.

Again as well, they could I suppose demand that the liquidity provider make an agreement that would protect the retail trader, but how on earth woudl they do that? GO has no negotiating power there because for one, they are just a single broker and for two, lots of traders who leave GO would probably just end up accessing the same liquidity pool anyhow, through different retail brokers.

I just don't see why GO is at fault when the market creates conditions that are bad for traders who use high amounts of leverage.
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