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  • #3,801
  • Nov 12, 2011 2:58am Nov 12, 2011 2:58am
Quoting nubcake
your sarcasm was too subtle... i'll cop that one.

MOHAN : go learn xxx mt4 volume is and then explain to the rest of us what you find,/
my apology, i have misunderstood the volume.
Mohan
  • #3,802
  • Nov 12, 2011 2:42pm Nov 12, 2011 2:42pm
What I read between the lines with Chris's various posts over the last few weeks, and all that has been happening, is that Go are changing from being a Market Maker brokerage to more of an STP brokerage. If I am correct, that means for all you people complaining about slippage, the good old days are unfortunately over.

As many of you will know, the only likely reason Go have been able to prevent slippage and gapping previously is that they haven't actually been filling all orders on the genuine market. If they suddenly go to filling all orders with true inter-bank pricing through a LP people are going to see huge differences with gapping, slippage, and execution speeds. Providing the ECN option Chris is talking about should help with the execution speed and slippage but not the gapping.

Of course it is totally up to Go how they fill everyone's orders. I just don't believe they have been up front and honest about the Market Maker side, and how this change is going to affect all their customers.
  • #3,803
  • Nov 12, 2011 2:52pm Nov 12, 2011 2:52pm
Quoting ForexKiwi
What I read between the lines with Chris's various posts over the last few weeks, and all that has been happening, is that Go are changing from being a Market Maker brokerage to more of an STP brokerage. If I am correct, that means for all you people complaining about slippage, the good old days are unfortunately over.

As many of you will know, the only likely reason Go have been able to prevent slippage and gapping previously is that they haven't actually been filling all orders on the genuine market. If they suddenly go to filling all orders...
You seriously think GoM has been a market maker all this time? You say you're reading between Chris's lines, so what have you inferred to think they're a MM?

And you're saying that concerning slippage, gapping and execution time, a MM would become worse as they become STP? I don't think I'm understanding your second paragraph.
  • #3,804
  • Nov 12, 2011 7:23pm Nov 12, 2011 7:23pm
Quoting jeanlouie
You seriously think GoM has been a market maker all this time? You say you're reading between Chris's lines, so what have you inferred to think they're a MM?

And you're saying that concerning slippage, gapping and execution time, a MM would become worse as they become STP? I don't think I'm understanding your second paragraph.
It is fairly well known that Go were one of the very few brokers around who traders could "news trade" due to them honouring the price split seconds after a news announcement - even when the true market had gapped. How else can a broker consistently offer prices that don't actually exist in the real market? Only a market maker can do that.

Obviously they didn't want to advertise this but their T's & C's gave them the right to block peoples accounts if they news traded - which they did. Many other news traders suddenly found their execution speed was pushed out by a few seconds, which made news trading impossible.

To answer your question, yes the use of STP through to a LP can slow the execution and provide slippage - which doesn't usually happen with an MM. Even though we are only talking miliseconds, we all know how price can slip during that time. As per above, I believe the only brokers that can provide 'no gapping' to the retail public are the Market Makers. If Go are moving away from this it stands to reason that the type of pricing people have become used to will change dramatically. I personally believe we are seeing that now.
  • #3,805
  • Nov 14, 2011 12:18am Nov 14, 2011 12:18am
Quoting ForexKiwi
It is fairly well known that Go were one of the very few brokers around who traders could "news trade" due to them honouring the price split seconds after a news announcement - even when the true market had gapped. How else can a broker consistently offer prices that don't actually exist in the real market? Only a market maker can do that.

Obviously they didn't want to advertise this but their T's & C's gave them the right to block peoples accounts if they news traded - which they did. Many other news traders suddenly found their execution speed...
@Forexkiwi, im based in Auckland and been trading for the past 6 months. Im still learning and hope to trade fulltime one day. I was hoping you could tell me what Thinkforex is like as a broker as you mentioned them in one of your posts that you are using them? Im trying to choose a broker that has decent spreads and is not a bucketshop as I scalp the markets quite often. Thanks mate. Cheers
  • #3,806
  • Nov 14, 2011 1:05am Nov 14, 2011 1:05am
Impressive, GoM spreads have improved, the minute avg on fxintel across the majors, GoM is lower in all but Cad and Aud than Vantagefx,

I'm surprised there hasn't been any posts about this clear improvement.
  • #3,807
  • Nov 14, 2011 1:11am Nov 14, 2011 1:11am
Quoting jeanlouie
Impressive, GoM spreads have improved, the minute avg on fxintel across the majors, GoM is lower in all but Cad and Aud than Vantagefx,

I'm surprised there hasn't been any posts about this clear improvement.

Maybe its a case of not wanting to speak to soon? lol

Hope the spread widening on all pairs improves also, still reporting slippage on opening and closing trades (yet to see any positive slippage)
  • #3,808
  • Nov 14, 2011 1:13am Nov 14, 2011 1:13am
I will be one of the first to say its all good when I see it but yes not sayign anything to soon. lol
Still looks like trading GU is now out for me spreads to wide for me.
  • #3,809
  • Nov 14, 2011 1:29am Nov 14, 2011 1:29am
Quoting moyes
@Forexkiwi, im based in Auckland and been trading for the past 6 months. Im still learning and hope to trade fulltime one day. I was hoping you could tell me what Thinkforex is like as a broker as you mentioned them in one of your posts that you are using them? Im trying to choose a broker that has decent spreads and is not a bucketshop as I scalp the markets quite often. Thanks mate. Cheers
I have found Think Forex to be good for scalping. They keep the spreads nice and tight for most of the day. The A/c Exec from this part of the world is also excellent to deal with. I have accounts with a number of brokers, but for me these guys are at the top of my list.
  • #3,810
  • Edited 5:28am Nov 14, 2011 2:14am | Edited 5:28am
Quoting PixeLM
Maybe its a case of not wanting to speak to soon? lol

Hope the spread widening on all pairs improves also, still reporting slippage on opening and closing trades (yet to see any positive slippage)
EUR/USD is hovering between 1.4 and 1.8. I'm too scared to trade though because of the slippage. As there is no positive slippage does this mean they have started using virtual dealer and disabled positive slippage?
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  • #3,811
  • Nov 14, 2011 2:58am Nov 14, 2011 2:58am
Quoting ForexKiwi
I have found Think Forex to be good for scalping. They keep the spreads nice and tight for most of the day. The A/c Exec from this part of the world is also excellent to deal with. I have accounts with a number of brokers, but for me these guys are at the top of my list.
They keep the spreads tight? I'm looking at their homepage, the spreads they show for the live pro ecn account is about.5pip better than GoM spreads, then add .8pip commission, it turns out worse. Doesn't seem to be that good scalping. Are the current live pro live spreads on the site unusual?
  • #3,812
  • Nov 14, 2011 9:06am Nov 14, 2011 9:06am
Quoting ForexKiwi
It is fairly well known that Go were one of the very few brokers around who traders could "news trade" due to them honouring the price split seconds after a news announcement - even when the true market had gapped. How else can a broker consistently offer prices that don't actually exist in the real market? Only a market maker can do that.

Obviously they didn't want to advertise this but their T's & C's gave them the right to block peoples accounts if they news traded - which they did. Many other news traders suddenly found their execution...
GoM has made it no secret that they are Market Maker, in the technical sense of the word. If you read the terms/conditions of any retail broker, this is clearly stated that the broker becomes the counterparty of your trade. You are right though, for them or vantage or anyone to claim: no requotes (ever), near 0% rejection rates, tight spreads, etc all regardless of lot sizes traded means that they have to take on considerable risk at the back end. But all the retail trader wants to see is low spreads, no trade rejection, and ideally no slippage ALL the time, regardless of market conditions. The good news is that retail forex market growth is only going to increase and even more of the higher tier players will start offering more retail-like ecn platforms. with commissions, if the costs are compatible, why not use a reputable market maker that will get you in and out of trades?

Although I've decided to stay with go, I did look around for another non-us broker and ironically ended up trying out InstaForex (yeah, I know I know, but they aren't so bad actually). They are pretty popular in SE Asia and have local depositors, which is rare outside of Australia. 1:500 leverage is great, but with cost averaging strategies, you can always use more for aggressive strategies . They have numerous checks and depositsAnd as I checked the spreads today, I was fairly impressed that gom have come back down to much more acceptable levels, although not wanting to speak too soon, and would love to see some news announcement/volatility reactions.
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  • #3,813
  • Nov 14, 2011 9:21am Nov 14, 2011 9:21am
Instaforex = russian.

You trust them? I don't see any sign of regulation on their webpage at all.

Give go a break. Their spreads are much better now
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  • #3,814
  • Nov 14, 2011 11:50am Nov 14, 2011 11:50am
Quoting iwillsurvive
Instaforex = russian.

You trust them? I don't see any sign of regulation on their webpage at all.

Give go a break. Their spreads are much better now
Don't see any regulation? Sometimes you do have to look for it, just a click away under 'About Instaforex' tab. They're a member of RAFMM since 2008 - Russian Association of Financial Market Members. Though to be fair, remaining concern is left with the diligence and actual regulatory powers of the RAFMM.
  • #3,815
  • Nov 14, 2011 1:48pm Nov 14, 2011 1:48pm
Quoting jeanlouie
They keep the spreads tight? I'm looking at their homepage, the spreads they show for the live pro ecn account is about.5pip better than GoM spreads, then add .8pip commission, it turns out worse. Doesn't seem to be that good scalping. Are the current live pro live spreads on the site unusual?
Commission accounts don't suit my trading strategy so I can't speak for the Pro accounts sorry. Think's standard accounts are around .5 pip worse than the Pro a/c, making them similar to what Go were offering (and are hopefully returning to) ie EURUSD usually fluctuates between 1.0 - 1.5 pips depending on time of day.

Anyway, I don't want to keep posting here about Think. Since Go wasn't looking too good last week, and people were asking for broker recommendations I mentioned them. I just find them good allround, but different traders look for different things. Here's hoping Go turn this around and regain people's trust.
  • #3,816
  • Nov 14, 2011 3:38pm Nov 14, 2011 3:38pm
Can't complain about NZDUSD spread atm
  • #3,817
  • Nov 14, 2011 4:01pm Nov 14, 2011 4:01pm
Gimme a Break,,, AUDNZD Spreads 35 pips EURGBP 13 pips how do you want us to trade GO? .. Spreads Jumped rocket high
  • #3,818
  • Nov 14, 2011 4:20pm Nov 14, 2011 4:20pm
i've signed up with Oanda Asia Pacific because of GOM's troubles

i'll keep my GOM account for the time being, i'm crossing my fingers that they will return to the old days

but its a great relief to have another account, and of the many br0kers, Oanda seems like the lesser of the evils

.
  • #3,819
  • Nov 14, 2011 4:53pm Nov 14, 2011 4:53pm
Quoting jeanlouie
Don't see any regulation? Sometimes you do have to look for it, just a click away under 'About Instaforex' tab. They're a member of RAFMM since 2008 - Russian Association of Financial Market Members. Though to be fair, remaining concern is left with the diligence and actual regulatory powers of the RAFMM.
are u referring www.instaforex.com FPA marked them as Scam

http://www.forexpeacearmy.com/public...instaforex.com
Mohan
  • #3,820
  • Nov 14, 2011 10:45pm Nov 14, 2011 10:45pm
any one else experiencing an improvement in the price feed today??

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