GoMarkets Discussion | Page 136 | Crypto Craft

Options

Go to
Permalinks
Print Thread

Similar Threads

Share your experience with GoMarkets.Aud 3 replies

IC Markets, CLM Forex, GoMarkets and Directfx? 0 replies

lower speads between oanda MT4 & gomarkets 0 replies

Opinions on FxPrimus, GoMarkets vs Alpari UK 23 replies

feedback/reviews of GoMarkets? 5 replies

Attachments: GoMarkets Discussion
Exit Attachments

GoMarkets Discussion

  • #2,701
  • Aug 25, 2011 10:04pm Aug 25, 2011 10:04pm
Quoting Pip-postrous
The reason I went with GO MARKETS was your regulatory body and your reputation for quick withdrawls and your good spreads and stable platform, but all those conditions are met by at least 5 other brokers I know of, at present I receive 20,000 dollars back a year from cashback forex, so why on GOD`s green earth would I stay with GO MARKETS if you are getting rid of cashback forex. Do you really think anyone in there right mind is gonna give up there rebate cheques to stay with your company.
Hi Pip-postrous,

I do not know what enters the decision making process of each client and of course for some of you, you want rebates. If that is the case then I understand you will not want to trade with us anymore. I do know that clients from cash back forex make up around 3-4% of our total clients and of course we want to do what benefits the masses, not the minority.

If you or anyone else does not want to trade with us because they can no longer get rebates, then that is fine, and I wish you good luck with your future trading.

I appreciate you being a client of ours up until this point.

Cheers,
Chris
  • #2,702
  • Aug 25, 2011 11:05pm Aug 25, 2011 11:05pm
I too would be more than happy to stay at go if spreads were simply .4 less also. As much as I love Go and all they have done I have to still say I'm a deal hunter and prices just went up.

I was mistaken and apologize to Go, I realize it was not your responsibility to inform us that we would no longer get our incentives from our IB. I just was caught off guard and found the whole darn thing a bit unsettling. It is something that affects some of us greatly and we were kept totally in the dark about it (yes fault of the ib Not Go)

My thoughts are that if you have an arrangement with an IB for clients, if you no longer wish to continue working with them that you stop accepting new clients from them, and still honor the arrangement with previous clients whom they brought to you. Essentially grandfathering in old clients and simply not offering this deal to new ones, I think that would've been a better route, or one that can still be taken.

Can I ask how the ECN thing is going, any plans on getting that up and running before sep 16th?

I hope you dont feel I was overly hard on you guys chris, I've done nothing but refer you clients and have said so many good things, and left good reviews all over the web about you guys. I guess that's why I felt this wasn't right to have happen to such a loyal client. Either way I wish you guys only the best, you've come a long way, and are still one of the top 5 brokers in the world
  • #2,703
  • Aug 25, 2011 11:16pm Aug 25, 2011 11:16pm
Quoting Sobepro
I too would be more than happy to stay at go if spreads were simply .4 less also. As much as I love Go and all they have done I have to still say I'm a deal hunter and prices just went up.
Not to simply blithely defend GO here though I don't think any attacks on them is really merited at this point RE: rebates but have you ever heard the saying, "you get what you pay for" before? I don't trade with rebates so this doesn't affect me but if I did trade with rebates, I would have to weigh the service in a much more significant manner than the rebates.
  • #2,704
  • Aug 25, 2011 11:16pm Aug 25, 2011 11:16pm
Quoting Sobepro
Can I ask how the ECN thing is going, any plans on getting that up and running before sep 16th?

I hope you dont feel I was overly hard on you guys chris, I've done nothing but refer you clients and have said so many good things, and left good reviews all over the web about you guys. I guess that's why I felt this wasn't right to have happen to such a loyal client. Either way I wish you guys only the best, you've come a long way, and are still one of the top 5 brokers
Hi Sobepro,

Thanks for the post. Don't worry about being hard on us, that what these places are for. I totally understand that for the clients that are using a rebate company, if those rebates are taken away, it can make a difference to your trading. I know some brokers on those same websites have considerably wider spreads, but also I know that if it is a comparison between two brokers with similar spreads and offers, then of course rebates is a factor.

I hope that when we add to our all round product it will convince many of you to give up rebates and come back, but of course I am not expecting you all to run back, with arms wide open and tears streaming down your face saying "I'm sorry, Chris. Take me back!"

As for the ECN, it is almost impossible that it would be ready by that point - we are not talking about just charging commission and saying it is an ECN, we want to do it properly. It will require some patience, but I hope it is worth waiting for!

Thanks,
Chris
  • #2,705
  • Aug 26, 2011 12:26am Aug 26, 2011 12:26am
  •  onu
  • | Joined Feb 2006 | Status: superior senior member | 746 Posts
Quoting GoMarkets
Hi Pip-postrous,

I do not know what enters the decision making process of each client and of course for some of you, you want rebates. If that is the case then I understand you will not want to trade with us anymore. I do know that clients from cash back forex make up around 3-4% of our total clients and of course we want to do what benefits the masses, not the minority.

If you or anyone else does not want to trade with us because they can no longer get rebates, then that is fine, and I wish you good luck with your future trading.

I appreciate...

If you realy want benefit the masses and compensate us for the missing rebate than just return to the Stops Level 0 as long as ECN isn't available..
  • #2,706
  • Aug 26, 2011 12:28am Aug 26, 2011 12:28am
Rebates or not, Go markets are a very decent broker.

scfx
The best indicator is price.
  • #2,707
  • Aug 26, 2011 12:30am Aug 26, 2011 12:30am
Quoting onu
than just return to the Stops Level 0 as long as ECN isn't available..
Yeh, I also noticed that, when did it change?

scfx
The best indicator is price.
  • #2,708
  • Aug 26, 2011 1:15am Aug 26, 2011 1:15am
  •  onu
  • | Joined Feb 2006 | Status: superior senior member | 746 Posts
Quoting scfx
Yeh, I also noticed that, when did it change?

scfx
When a tiny, 99 bucks software hit the fan of their liquidity provider
  • #2,709
  • Aug 26, 2011 1:17am Aug 26, 2011 1:17am
BS TRADING that's all...I'm running away!
Why the Market Makers call themselves Brokers???
  • #2,710
  • Aug 26, 2011 1:59am Aug 26, 2011 1:59am
Quoting onu
If you realy want benefit the masses and compensate us for the missing rebate than just return to the Stops Level 0 as long as ECN isn't available..
I can't make any guarantees of course, but I fully expect that the minimum stop/limit distance will be removed once the cash back IBs have been removed if not before.

Cheers guys, Have a good weekend.

Chris
  • #2,711
  • Aug 26, 2011 8:16pm Aug 26, 2011 8:16pm
Good to know, Chris, even though I'm not a scalper.

So that's the back story for all these uh, recent developments.

Hope the spreads get tighter, too, with the rebates gone (I rarely see the spread on the EUR/USD pair go under 1 pip).
Amor Fati--F. Nietzsche
  • #2,712
  • Aug 27, 2011 3:54am Aug 27, 2011 3:54am
Quoting GoMarkets
With that in mind I am currently preparing a plan to discuss with the other company directors about what else we can give or clients. If anyone has any suggestions on things they would like to see from us that maybe they have seen elsewhere, then please PM me and I will ensure that everything is considered.
Chris, how about GoM gives back part of the rebates you gave to those IBs back to your clients? That way, GoM and your clients will both "win".
  • #2,713
  • Aug 27, 2011 6:00am Aug 27, 2011 6:00am
I can't believe you are thinking about doing this.

I've just refered 10 accounts via cashbackforex. I was also in the process of refering 1 account with a deposit of £600,000, thank god I saw this post first, 50 lots a day is what that account will push, minimum.

I ultimately want a pamm account and I believe pepperstone offer one however because gomarkets is such a great service I was willing to settle for cashbackforex commisions.

Now that you are taking this away I have no choice but to send that client to pepperstone. I now also have the task of getting my 10 clients to move their accounts to pepperstone, and it is going to be a nightmare.

I have not seen any email regarding gomarkets withdrawing cashbackforex, I can only assume that cashbackforex were making too much money so you've decided to dump them. This to me signifys dishonesty, lots of people worked hard to get you customers and you've now turned your backs on them.

If your company isn't making enough money then instead of taking ours how about you look to generate revenue in other ways, 1 would be offering products that people want, such as pamm accounts, commision based trading / ECN's.

You've really messed up with this go, I hope you show the decision makers this thread and they change their minds.

I for one demand an explanation, why have you dropped cashbackforex and please, try and be honest. And removing cashbackforex does not benefit the majority, the only reason the majority aren't on cashback is because they don't know about it. I EXPECT to see .35 pips taken out of my spread or I'm off.
  • #2,714
  • Aug 27, 2011 6:40am Aug 27, 2011 6:40am
Guys is anybody else having trouble connecting?
  • #2,715
  • Aug 27, 2011 7:00am Aug 27, 2011 7:00am
Quoting bluebulluk
I spoke to GOmarkets on the phone in australia and asked them about being an IB and they told me that go require 10 referals a month, I find it hard to believe that cashbackforex are not meeting that requirement.
that may be true. but that might not be the whole story. i don't presume to know the reason go do anything, i can only assume and reason things out in my mind.

the thing is, no matter what go markets do or don't do, someone will always have a reason to complain about something. it's not for them to bend to the minority who always have the loudest voice and least facts and only care about what they want when they want it. that's not how life and business works.

you have to have some expectation that a business intends to do what it considers is best for itself. that will inevitably conflict with the interests of some individuals. i'm sure they don't undertake changes lightly, so if they decide to do something you can bank on the fact that it is full steam ahead no matter what anyone says.

if you don't value GO anymore then that is what it is and so be it. but, maybe you find worth in sitting on your hands for the next couple of weeks to see what does and does not further unfold. who knows... maybe their evolving situation reaches a point that is more advantageous to you than ever before. and if not, then that's that.
Congratulations ScalaFX for coming out of the closet!
  • #2,716
  • Aug 27, 2011 7:03am Aug 27, 2011 7:03am
Quoting nubcake
that may be true. but that might not be the whole story. i don't presume to know the reason go do anything, i can only assume and reason things out in my mind.

the thing is, no matter what go markets do or don't do, someone will always have a reason to complain about something. it's not for them to bend to the minority who always have the loudest voice and least facts and only care about what they want when they want it. that's not how life and business works.

you have to have some expectation that a business intends to do what it considers...
Believe me the last thing i want to do is leave, btw can you do me a favour, can you check to see if your live login is working as I'm getting no connection.
  • #2,717
  • Aug 27, 2011 7:08am Aug 27, 2011 7:08am
Quoting bluebulluk
Believe me the last thing i want to do is leave, btw can you do me a favour, can you check to see if your live login is working as I'm getting no connection.
further to my last post... i would think that cashback would have an understanding that go would no longer be dealing with them, so it seems to me that it is cashback who have been underhanded, or at least ill-advising, by continuing to take new customers under the pretense that the rebates by trading through go is still as normal.

....

i've just started mt4 and it has a live update. did the update to build 406, restarted, and it's so far connected ok i suppose. but, being that it's the weekend there isn't exactly a load of data to expect to receive, but it is connected for the last few minutes so far.
Congratulations ScalaFX for coming out of the closet!
  • #2,718
  • Aug 27, 2011 7:16am Aug 27, 2011 7:16am
Quoting nubcake
further to my last post... i would think that cashback would have an understanding that go would no longer be dealing with them, so it seems to me that it is cashback who have been underhanded, or at least ill-advising, by continuing to take new customers under the pretense that the rebates by trading through go is still as normal.

....

i've just started mt4 and it has a live update. did the update to build 406, restarted, and it's so far connected ok i suppose. but, being that it's the weekend there isn't exactly a load of data to expect to...
Are you demo or live, i can connect the demo accounts but my live account gives no connection or common error.
  • #2,719
  • Aug 27, 2011 7:22am Aug 27, 2011 7:22am
Quoting bluebulluk
Are you demo or live, i can connect the demo accounts but my live account gives no connection or common error.
live. something is wrong on your end.
Congratulations ScalaFX for coming out of the closet!
  • #2,720
  • Edited 8:00am Aug 27, 2011 7:25am | Edited 8:00am
Quoting nubcake
live. something is wrong on your end.
Damn, I don't really know what to do here, my VPS and home machine both have the same problem.

I've emailed my VPS provider and gomarkets but it's bank holiday. I'm just hoping it's server maintenance they are performing whilst the markets are closed.
7 traders viewing now