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GoMarkets Discussion

  • #4,041
  • Dec 12, 2011 5:52pm Dec 12, 2011 5:52pm
Quoting onu
Definitely not, its a change in their policy...

The new GO: "Lets screw our customers"
this thread should be changed to Gone Markets!

scfx
The best indicator is price.
  • #4,042
  • Dec 13, 2011 4:15am Dec 13, 2011 4:15am
Quoting onu
Definitely not, its a change in their policy...

The new GO: "Lets screw our customers"

You are definitely right about GO. They are becoming more shitty.

I compared Go Markets spread with AxiTrader and I'm surprise to find that their EURUSD spread could up to 3pips when Axi spread for EURUSD remains at below 2pips!

I also compared the EURGBP, Go's spread was about 2.4pips where Axi was about 1.5pips. 1 pip difference!!!

These are compared on Live accounts.

OMG! Is Go Market desperately need to earn more profit from the spread? Was it due to shrinking customer base after removing the rebate? Is it still safe to leave the money with them?

I'm going to transfer all my money out asap to Axi where they pay about 2% p.a. interest on balance.

Good Bye Go Markets!
  • #4,043
  • Dec 13, 2011 4:16am Dec 13, 2011 4:16am
Quoting scfx
Or we could all move to a new broker. I am looking at Axitrader at the moment.

scfx
To be honest there are no other brokers worth moving to other than LMAX and dukascopy. All of the others are junk, including mb trading and oanda.

LMAX will be offering MT4 by late Jan 2012. So I guess that gives GoMarkets about a month to sort out the high spreads and slippage. Things seem to have improved a little so hopefully it'll all be sorted by next year but the spreads are uncompetitive and sending out a horrible message to new clients.

The middle of January will be make or break for go, because it's that time that people will move if the situation hasn't improved.

LMAX are well aware of the gomarkets issues and are positioning themselfs for a mass grab of gomarkets clients.

Pepperstone timed the whole thing wrong and their cashbackforex marketing incentive wasn't really all that good enough to sway current gomarkets clients, LMAX are also aware of that.

What gomarkets should do right now is lower their spreads, but of course they won't because they'll read this and think what the hell does this guy know about marketing and promotion. ;-)
{Promotion Removed}
  • #4,044
  • Dec 13, 2011 6:29am Dec 13, 2011 6:29am
What makes LMAX and Dukascopy so good?


Quoting leerees
To be honest there are no other brokers worth moving to other than LMAX and dukascopy. All of the others are junk, including mb trading and oanda.
  • #4,045
  • Dec 13, 2011 6:52am Dec 13, 2011 6:52am
Quoting dawsonsg
What makes LMAX and Dukascopy so good?
Dukascopy well known ECN broker, they have very good liquidity
Mohan
  • #4,046
  • Dec 13, 2011 8:43am Dec 13, 2011 8:43am
Quoting scfx
this thread should be changed to Gone Markets!

scfx
Looooooool
Brokers are angels
  • #4,047
  • Dec 13, 2011 5:05pm Dec 13, 2011 5:05pm
Hanging execution was back last night. I hit buy one one trade and it slip/filled me 8 pips above where I wanted to enter. That's on top of these wide spreads.

Go Markets what's going on?
The best indicator is price.
  • #4,048
  • Dec 13, 2011 7:07pm Dec 13, 2011 7:07pm
I just noticed on the FF adds for GO there still saying the best spreads and a pic of the spread at 0.6 pips hahahaha I wish.
  • #4,049
  • Dec 14, 2011 1:33am Dec 14, 2011 1:33am
It's time to move on. Try another broker.

Alpari, AxiTrader, PepperStone or even HotForex is better than Go these days.
  • #4,050
  • Dec 14, 2011 2:41am Dec 14, 2011 2:41am
I was trading a live account with them 2 months ago.

I found their customer service lacking and there were several trade execution problems while I was running an EA.

I've since heard through a good industry source that their infrastructure is inadequate (hence the problems with some executions).

They're also a market maker which I don't like. If you win, they lose. They're therefore not working in your best interests. A bit like a casino operator.
  • #4,051
  • Dec 14, 2011 6:49am Dec 14, 2011 6:49am
Quoting NickMcDonald
I was trading a live account with them 2 months ago.

I found their customer service lacking and there were several trade execution problems while I was running an EA.

I've since heard through a good industry source that their infrastructure is inadequate (hence the problems with some executions).

They're also a market maker which I don't like. If you win, they lose. They're therefore not working in your best interests. A bit like a casino operator.
Saying they are a market maker is hear-say, regardless if they seem to give that impression to some people here, there is no definitive proof that they are a mm.

Where did you hear about their infrastructure? Did that source have anything else to say about GoM or any other broker?
  • #4,052
  • Dec 15, 2011 5:19am Dec 15, 2011 5:19am
Hi Mohan,

You are lucky if you got the call. I wouldn't know who mine is and don't think I have ever spoken to him/her.

As for Axi, Ben does call.

Regards
Steve

Quoting mohan76
i have tested my go account today with 0.1 lot 4 trade (market order) all had negative slippage ( 1 -2 pip) during Asian session. once tp (limit ) had 0.2 pip gain


Edit : i have received call from my account manager today Reg. this post. Looks go market getting back to normal

Edit2 : slippage coursed by mufti terminal client additionally today i had 1 pip gain on TP
  • #4,053
  • Dec 15, 2011 5:41am Dec 15, 2011 5:41am
Quoting jeanlouie
Saying they are a market maker is hear-say, regardless if they seem to give that impression to some people here, there is no definitive proof that they are a mm.

Where did you hear about their infrastructure? Did that source have anything else to say about GoM or any other broker?
I think that infrastructure problems is a serious

Do you remeber all Chris talk about new server in US or Europe? ECN? all vanished. MT5 unable to deploy server. They blamed metaquotes being overbooked to deploy the server. Who think that's true?

Also Go Market loosing Liquidity providers is another bad sign. Why they don't plug into integral. Why other big brokers arround don't loose that way.

I gave up. They keep lying better going with a wider spread than stressing over if GO Market will accept my orders...

13
Brokers are angels
  • #4,054
  • Dec 15, 2011 5:46am Dec 15, 2011 5:46am
Quoting dawsonsg
Hi Mohan,

You are lucky if you got the call. I wouldn't know who mine is and don't think I have ever spoken to him/her.

As for Axi, Ben does call.

Regards
Steve
Gom know me by my username , yes Axi have great communication
Mohan
  • #4,055
  • Dec 18, 2011 5:55pm Dec 18, 2011 5:55pm
Are the pip spreads reasonable as shown in the gom?
Attached Image (click to enlarge)
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  • #4,056
  • Dec 19, 2011 12:34am Dec 19, 2011 12:34am
Quoting fx13
I think that infrastructure problems is a serious

Do you remeber all Chris talk about new server in US or Europe? ECN? all vanished. MT5 unable to deploy server. They blamed metaquotes being overbooked to deploy the server. Who think that's true?

Also Go Market loosing Liquidity providers is another bad sign. Why they don't plug into integral. Why other big brokers arround don't loose that way.

I gave up. They keep lying better going with a wider spread than stressing over if GO Market will accept my orders...

13
in my opinion,i think that GoMarkets will be gone pretty soon,with the current situation,i guess alot of accts will withdraw their monies & look elsewhere,No?
  • #4,057
  • Dec 19, 2011 1:07am Dec 19, 2011 1:07am
Im seeing 1.5 ish pretty consistently now looks like they have listened would be just in time for alot of crew to, me included.
  • #4,058
  • Dec 19, 2011 3:35am Dec 19, 2011 3:35am
Quoting dawsonsg
What makes LMAX and Dukascopy so good?
LMAX: Transparency, honesty that they are bringing to forex market.

Dukascopy: reputation as being rock solid broker, low spreads. I think they are an actual bank, right?

If you want Dukascopy-like spreads on mt4, use FxOpen ECN.
Measure trends automatically with zero lag
  • #4,059
  • Dec 19, 2011 2:26pm Dec 19, 2011 2:26pm
I wouldn't go with LMAX. They are a very small show and I have had execution problems with them along with basic trade statement issues.

I have been trading with vantage fx for the last 3 months and their feed is very consistent around 1.4 for EUR USD.

Also lots of free stuff like VPS and autochartist. They are always there for support.

It's a shame about GO, however looks like spreads could have improved since this Monday. Has anyone else noticed any change?
  • #4,060
  • Dec 19, 2011 2:38pm Dec 19, 2011 2:38pm
Quoting jeanlouie
Saying they are a market maker is hear-say, regardless if they seem to give that impression to some people here, there is no definitive proof that they are a mm.

Where did you hear about their infrastructure? Did that source have anything else to say about GoM or any other broker?

If you visit the AXI office you will see they're a market maker. They have 4 traders in there who are busy watching all of the client orders. Visit their office and you can see this.
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