GoMarkets Discussion

seems to be not true... at least with a real account

just try the attached script

it tries to open a 0.01 lot sell stop order 1 pip below Bid and deletes it right away

then have a look in the expert log

if I vary the distance to more than 2 pips it seems to work

I'm trading PA on M5 - so I need to trade the breakout of a candles.
Otherwise it would be impossible to trade a breakout of a candle, that closes near its high.

Cheers

Thomas

That GoM quote seems to have come from back in Feb, 2011. GoM has just changed the rule as of last week that Stop / limit orders must be 2 pips away from current bid (or ask) price. They also answered why they made the change. It appears to have something to do with a limitation in the way that metatrader 4 handles tickets in which the pending stop/limit order has an attached stop loss/TP that is exactly the same as the pending stop / limit entry price (i.e. trader open and then immediately close the trade, not paying for the spread). At the same time, rebates were paid to certain traders that signed up for rebate/introducing broker agreements. Some traders who figured out this loophole were taking advantage of this.

You could mimic a stop order close to the market if you have your script place a market order after it reaches a certain price. Then immediately modify it with desired TP/SL.

Maybe in the near future the minimum stop / limit order will be reduced. Maybe as little as 1/2 pip minimum should be sufficient.

Hopefully MT5 will not have this problem. It's a minor glitch, but one that metaquotes should have never allowed in the first place.

Couple of comments good and bad:

Lately YES!!! with out a doubt the spreads have widened! The last couple weeks and months the average spread used to be 1.2 (you see 0.8-1.5). but last week and now the average is 1.7 (seeing 1.4-2.3) it is 2.1 right now as i write this and I even saw it several times at 3.5 for a few seconds at a time opps now its even at 4.5 and theres no news ummm whats up with that? So while yes you cant sit there and say the spreads are the same, BUT the spread right now is still competitive, I don't feel like its the usual good ol' GO Markets spread. BUT yes the market has been extremely volital and erratic so I HOPE that that is the reason for the increased spreads and not just new policy. I don't have other brokers on my mt4 so I cant compare but if it doesn't narrow soon I will likely add some other brokers demos on there to compare and start the process of "shopping around"

The new 2pip rule... YES I did receive 3 mt4 messages about the new rule from GO so I am satisfied that they did correctly notify me.
BUT in the past I have accidentally opened a couple orders that closed immediately at the same price (because I forgot my MA stop EA was still on) I STILL PAID THE SPREAD!!! even though my order was closed at its open level. I really do not believe that anyone could open an order and close it with out paying the spread, just makes no sense, and if that was possible wouldn't that be a glitch in the entire mt4 program effecting every single broker and not just GO. I have no doubt that there are people trying to exploit the rebate issue and buying tons of lots while still paying the spread and closing them at break even, I still think this could hurt GO because even though they made their $ on the spread they still couldn't have time to hedge their positions since STP means STP to their hedgers not to the market.

Platform freezings and slow executions: Yes I also get them sometimes the past 2 months, orders are less than a second and other times 5 seconds. I really think this is just because their servers are just all the way in Australia. and no manipulation is occurring. during these 5 seconds is the price moves in my favor I'm given the better price So as long as your not scalping the 1m its a non issue for me. Would love to see more of a world net with servers with them though. That would resolve this.

I am glad to hear that GO is in talks to be a true ECN facility. I have so much love for GO since I feel they dont employ so many of the bucket shop crap. I would love to stick with GO forever and I really feel that things with them right now are just a slight hipcup in the road to becoming a huge success, well I mean even more then they are now. Since I started with them they have grown and gotten much better.

I still have complete faith in Gomarkets and think they will continue to get even better as time goes on.

Think you will find the spreads have been a bit more volatile everywhere. Go's spreads remain very competitive...

you can compare spreads here

http://www.fxintel.com/live/

Vantage FX is a strong competitor of GoM. that is the one i usually compare quotes to, holding up each competitor side-by-side. The quotes have been competitive, I think.

It's possible to withdraw to Paypal. They do this usually within 24 hours. You can withdraw any amount. Not sure what promo they have right now.

Good luck

Hi Chris,

I'm a fairly new GO Markets customer and my experience thus far has been quite positive.

Today I placed 2 orders between 8-9 server time, and both times almost immediately I stopped receiving data for about 1 minute. I checked whether I could still use the internet for other things, and the only thing that wasn't running smoothly was my MT4 platform.

My trades weren't affected, but it was a bit off-putting. Can you let me know if you guys have any record of data interruption today?

Hi Halifax,

At around 5:10-5:12 today we had an interruption in our price feed where we temporarily lost our connection to our price feed. This came back within about 90 seconds.

Since then we have had no outage, certainly that I have seen or can see on the logs. I do know of one other client (unless of course you are that person) who had their platform freeze for about a minute at a similar time, which means there could have been an ISP issue somewhere along the line.

I will be happy to have a look at your logs if you can PM me your details.

Thanks,
Chris

Thanks. They don't allow withdraw to paypal account. They withdraw only to bank account.

I wish GOMARKETS have web platform for MAC users
and I wish to have many withdraw options not only for bank account

Thanks, not sure if my PM actually sent but if not I can try again.

I'm wondering if Chris or other members can help me with this.

I write a lot of EAs and I always test them with at least 3 brokers, one of them being Go Market because I have live account with Go Market.

This has happened many times, when it comes order modify function, sometimes my Go Market order will leave stop loss as "0" even my EA instruct to modify to say 20 pips, it always modify take profit correctly however. Under the same situations, other broker platform modify stop loss correctly, so that makes me thinking it's broker execution problem.

Another lesser problem is that my Go Market always execute orders a few seconds later than other broker I'm using. I prefer to use Go Market as my live trading broker for many reasons so I'm wondering if there's anything can be done to improve this. Thanks in advance.

This is also an issue for me.

I fully agree that GoMarkets should offer a number of alternatives for taking money out besides bank withdrawals, like most brokers out there.

Is anyone else not able to login to MT4? Im just getting "No connection" - been like that for atleast 10 mins now.

me too cant get demo or live working

Same here.

Servers have been down since 01:13:29 (almost 40 minutes now.) Not happy.

Server problems according to live chat, supposed to be solved in a few minutes half an hour ago.

Once again...server problems..

And I still have had no reply regarding my post a few pages ago..

My news trade: where the server went off line and I was able to see my profit and the SL was not moving up...only to see when the server came back on line it opened some 30 pips in the other direction..lucky I am only trading pennies untill I see how Go Markets perform...so my lost was $4.51..however I have now sent three e-mails and no reply this goes back to 1st of August..

Today now...

You can see the gaps...

Iam moving on.....