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GoMarkets Discussion

  • #4,001
  • Dec 2, 2011 8:27am Dec 2, 2011 8:27am
I think you have good case, price never went up that high, not only that, they gave you slippage also, not to mention the data feed had been bad for hours before they stopped you out, write the email, let us know if they put you back in trade, good luck
MAY THE TREND BE WITH YOU
  • #4,002
  • Dec 2, 2011 8:42am Dec 2, 2011 8:42am
Quoting Erebus
I think you have good case, price never went up that high, not only that, they gave you slippage also, not to mention the data feed had been bad for hours before they stopped you out, write the email, let us know if they put you back in trade, good luck
thanks for your comments.
i know what to do now.

p.s. my previous posts were removed by myself.
  • #4,003
  • Dec 2, 2011 4:05pm Dec 2, 2011 4:05pm
  •  onu
  • | Joined Feb 2006 | Status: superior senior member | 746 Posts
Quoting GoMarkets
Hello All,

My name is Joel Murphy, and any of you that have called the GO Markets office over the last few years would have most likely had a chat to me. Following Chris Reynolds’ departure from GO Markets I’ll be you new point of contact on Forex Factory.

Firstly, I would like to apologise for the lack of comment on the thread in the last few weeks, we have had a systematic handover take place at GO and now that our new structure is properly in place we can resume on the thread.

Thanks to all of you for your patience in the meantime, and...
Hi Joel,

unfortunately I don't see much of improvement..

GO went from one of the best (Aussie) MT4 broker straight to the worst Ive ever traded with...from slow execution speed and high spreads over insane slippages to the absence of a serious communication policy, just everything fails on your end.

First of all you need some TOP LPs and a heavy upgrade on your trade servers to stay in business on the long run.

Regards,
onu
  • #4,004
  • Dec 2, 2011 8:29pm Dec 2, 2011 8:29pm
I agree.

And when Chris was around things seemed to be ever improving. And the customer felt confident. I think we all thought GO was going to be one of the best, eventually.

Chris leaves and at the same time the service quality falls over the cliff. Coincidence? Perhaps! But hopefully not an ominous signal.

Nevertheless, we all want to see the quality return to the way it was pre your new LP. Is it likely Joel?

regards


Quoting onu
GO went from one of the best (Aussie) MT4 br0ker straight to the worst Ive ever traded with...
Quoting GoMarkets
.......we are confident that GO Markets product will be a better as a result of the changes made.
  • #4,005
  • Edited 4:09am Dec 4, 2011 4:05am | Edited 4:09am
Quoting GoMarkets
Hello All,

My name is Joel Murphy, and any of you that have called the GO Markets office over the last few years would have most likely had a chat to me. Following Chris Reynolds’ departure from GO Markets I’ll be you new point of contact on Forex Factory.

Firstly, I would like to apologise for the lack of comment on the thread in the last few weeks, we have had a systematic handover take place at GO and now that our new structure is properly in place we can resume on the thread.

Thanks to all of you for your patience in the meantime,...

Issues were never raised for trading in Asia as usually market remain calm but in BIG important news releases like NFP & ECB/ rate decision/ conference.

Don't understand how you can stand here against all the complains and say things are better & fixed? Chris said MT5 will be live soon & new ECN service soon ( 6month's ago lool). What we got a crappy MT4 spread, slippage, bad execution & thus rolling on bad tricks, LP blowing out. So what's the new road map for GOM if there is any? Do you really plan to fix these issue or just make some PR here denying the facts to trap some newbies thinking that GOM is a safe broker?

I bet that if Gom market continue in same linear path since last 6 month's it would better move office to Lagos to stay in business or shutdown!

13
Brokers are angels
  • #4,006
  • Dec 4, 2011 5:14am Dec 4, 2011 5:14am
Quoting MelbTrader
Nice spreads before payrolls GO. Blew out to 30 pips on Eur/USD about a minute before numbers even came out.

I don't know what the hell has been going on at GO, not least of all because they did not see fit to email users about any changes, but this broker has become little more than a bucket shop
Thats much better than what i used to experience - (eurjpy) 100+pips spreads was a regular event.

But, I think after all the yelling matches I had with them, spreads improved - a bit)

That was about 8-9 months ago roughly.

They're amateur operators - I trashed about 6K with this crew....and funny enough, my trading performance improved dramatically when I finally signed up with a couple of 'professional' (Dukascopy & Oanda) brokers.

Call it coincidence?

Hardly...
  • #4,007
  • Dec 4, 2011 12:36pm Dec 4, 2011 12:36pm
Quoting soladood
Thats much better than what i used to experience - (eurjpy) 100+pips spreads was a regular event.

But, I think after all the yelling matches I had with them, spreads improved - a bit)

That was about 8-9 months ago roughly.

They're amateur operators - I trashed about 6K with this crew....and funny enough, my trading performance improved dramatically when I finally signed up with a couple of 'professional' (Dukascopy & Oanda) brokers.

Call it coincidence?

Hardly...
Huge spreads during events like payrolls are common, but they aren't supposed to happen before news has even been released.
  • #4,008
  • Dec 4, 2011 9:39pm Dec 4, 2011 9:39pm
Quoting MelbTrader
Huge spreads during events like payrolls are common, but they aren't supposed to happen before news has even been released.
Exactly - seriously though - don't waste anymore time with them - they're not worth the effort...

best
  • #4,009
  • Dec 5, 2011 1:32am Dec 5, 2011 1:32am
Hey Joel,
Just wanted to know if you guys are doing anything to try and reduce spreads, if so when do you think this will be implemented.

Cheers
  • #4,010
  • Dec 5, 2011 1:40am Dec 5, 2011 1:40am
All they are telling me is "we work on it", "we hope it will change soon"..

I work on it to close my account, I hope I will change broker soon...
  • #4,011
  • Dec 5, 2011 3:49am Dec 5, 2011 3:49am
Hahahaha yes think I will do the same I have given them to much time already, hope Joel and co realize what there doing to what was a good broker.
  • #4,012
  • Dec 5, 2011 8:17pm Dec 5, 2011 8:17pm
Quoting merlin_sg
Well, I think I just encountered the mother of all slippages,

My XAUUSD long entry on 17/11/2011 12:16 at 1756.00 and S/L at 1750.50 closed only when the price reached 1741.10 . If it had closed at my SL, it would have been ~$30 loss (similar to the first order) instead of the $88 loss. A slippage of ~900 pips (SL at: 1750.50, ClosePrice at: 1741.10) appears extreme.

I just wrote to GoMarkets and waiting for their response.
As a follow-up, I received this reply from GoMarkets when I asked them to correct the trade.

---
What happened here was a result of a massive move in the price of gold in a very short time period. Essentially if the market moves $10 in the space of a few seconds it will trigger your stop and close you out at the next best price. Slippage on stop orders around this time seem to be a common theme across our client base. From what I can see the reason for this dramatic drop is due a technical level being breached and it executed an avalanche of stop’s across the market. Importantly this cannot be controlled by GO Markets, once your stop entry has been breached you the liquidity providers will automatically buy/sell at the next best price. This is clearly an unlucky situation for those with stops here, but we are unable to correct any trades given this is valid price movement in the underlying market.

Regards,

Trade Support
---
  • #4,013
  • Dec 5, 2011 9:21pm Dec 5, 2011 9:21pm
merlin, did the same slippage occur with other br0kers?

Quoting merlin_sg
From what I can see the reason for this dramatic drop is due a technical level being breached and it executed an avalanche of stop’s across the market.

we are unable to correct any trades given this is valid price movement in the underlying market.
  • #4,014
  • Dec 5, 2011 11:38pm Dec 5, 2011 11:38pm
Quoting merlin_sg
As a follow-up, I received this reply from GoMarkets when I asked them to correct the trade.

---
What happened here was a result of a massive move in the price of gold in a very short time period. Essentially if the market moves $10 in the space of a few seconds it will trigger your stop and close you out at the next best price. Slippage on stop orders around this time seem to be a common theme across our client base. From what I can see the reason for this dramatic drop is due a technical level being breached and it executed an avalanche of...
Does this mean the traders who "bad" experienced such moves would have to bear the losses themselves? or would go market going to return the funds to the traders or zeronise the trades?
  • #4,015
  • Dec 5, 2011 11:54pm Dec 5, 2011 11:54pm
I am not sure if other brokers have the same slippage at that time, the above trade in XAUUSD was placed on 2011.11.17 18:16:54 and closed at 2011.11.17 20:01:36. Both times are +0800 GMT.


Quoting PeterE
merlin, did the same slippage occur with other br0kers?
  • #4,016
  • Dec 6, 2011 11:49pm Dec 6, 2011 11:49pm
Is any one using gomarkets with an iPad??

I can enter volume and open orders but I can't enter stop loss and t.p.

I read the user guide, the window w/volume top right. When I press volume, my keyboard opens, but when I press on s/l or t/p nothing...

Can anyone help?
  • #4,017
  • Dec 7, 2011 12:13am Dec 7, 2011 12:13am
Quoting tokyotrader
Is any one using gomarkets with an iPad??

I can enter volume and open orders but I can't enter stop loss and t.p.

I read the user guide, the window w/volume top right. When I press volume, my keyboard opens, but when I press on s/l or t/p nothing...

Can anyone help?
Open order, then modify from positions
  • #4,018
  • Dec 7, 2011 12:21am Dec 7, 2011 12:21am
You can do that with AxiTrader but not go. I can't remember why, someone did explain it.

I just dont like leaving pending order with no SL or TP set.





Quoting tokyotrader
Is any one using gomarkets with an iPad??

I can enter volume and open orders but I can't enter stop loss and t.p.

I read the user guide, the window w/volume top right. When I press volume, my keyboard opens, but when I press on s/l or t/p nothing...

Can anyone help?
  • #4,019
  • Edited 10:34am Dec 7, 2011 10:17am | Edited 10:34am
Quoting sniperfxmy
Does this mean the traders who "bad" experienced such moves would have to bear the losses themselves? or would go market going to return the funds to the traders or zeronise the trades?
GoMarkets is a STP broker so they make their money through spread. Because of this you can't expect them to refund you slippage.

I know you don't want to hear this but seriously, I don't see how a business can take onboard losses that they have no control of, it's different with non STP's as they make money trading against their clients so slippage refunds no doubt come from client money anyway.

From what I can tell It's not only us traders who've lost out, gomarkets have probably lost heaps now that all the EA liquidity has been squashed.

The solution for us traders is to get used to this new LP and not trade the slippy pairs, you can't compare slippage with other brokers as they all use different LP's. Although I don't like it I'm starting to get a feel for the new LP and EUR/USD and GBP/USD has been really good with hardly any slippage. It's by no means perfect and I hope gomarkets will continue to work on improving it.

Although we are all annoyed at loosing the old LP gomarkets are still an honest broker that doesn't mess with our trades and that means a lot in this game.

I will still keep moaning about the spreads though, maybe gomarkets could sacrifice a little markup to give us better spreads, a loss leader to bring in more clients.
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  • #4,020
  • Dec 7, 2011 5:47pm Dec 7, 2011 5:47pm

Yeah thats exactly the point, it comes down to what they would prefer 100000 lots a day traded at 0.5 commission or 10000 a day at 1 pip commission. There surely would be alot more trades done if spread was tighter Im seeing 2 pips alot, thats big these days.

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