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  • #2,121
  • May 22, 2011 5:36pm May 22, 2011 5:36pm
Quoting M.A.C.Doug
You are currently advertising reduced spreads. On your site you claim a typical spread of 1 pip on EUR/USD has this changed at all? A 1 pip spread would be fantastic if it were true. Although your spread can and does drop under a pip, I have found that typically your spread is around 1.6 Oandas spread has blownout recently from 0.9 to 1.2 typically. MBT average is around 0.8, half of your spread so still cheaper even with commission.

I am hoping this recent spread reduction will mean I can get even 1.2 as typical and get close enough to Oanda's...
Hi,

You are correct that we have reduced our spreads, in fact we have reduced spreads on around 10 pairs in the last few weeks. Rather than the average spread in just the liquid times, I can tell you that the average spread for the whole of last week on EURUSD (based on 606,139 ticks) was 1.14 pips. Obviously I would expect that during the liquid times, this would be slightly lower.

I hope that helps and if there are any other pairs you are interested in, let me know and I will get the details.

Thanks,
Chris
  • #2,122
  • May 22, 2011 5:43pm May 22, 2011 5:43pm
Quoting GoMarkets
Hi Guys,

On Friday evening the firewall protecting our trading servers was upgraded to add enhanced security rules, which was to provide for further protection from unwanted or unsafe connections. Unfortunately the upgrade that was sent through was too secure and effectively blocked external connections for some clients. Throughout the entire period the trading servers were online and any stop loss and take profit orders were executed as they should have been. The problem was fixed when the firewall changes were corrected and everyone was once...
Okay, I will wait since I had emailed on Friday.

BTW, my email was sent to you.
  • #2,123
  • May 22, 2011 8:43pm May 22, 2011 8:43pm
Quoting skoda2008
I am currently sitting on a $6000 loss due to my EA not being able to the Go Markets trading server last night. It really couldn't have picked a worse time for me. To date I have been impressed with Go Markets customer service, I really hope they come through with goods on this one!

Obviously I will contact Chris directly...
...and they have! I'm really impressed with how Go Markets handled this, and will have no hesitation continuing trading with them.

All of my trades were reversed, no questions asked.
  • #2,124
  • May 23, 2011 12:46am May 23, 2011 12:46am
Quoting ozmacca
Here are some trade managing experts that will work, I use the trailing stop one on Go, it puts in SL TP and BE, remember to try on demo first and you need to remember that 20 pips needs to be entered as 200.
Thank you. Tried Trailing Stop on demo, definitely works on Go!
  • #2,125
  • May 23, 2011 4:28am May 23, 2011 4:28am
Quoting GoMarkets
Hi,

You are correct that we have reduced our spreads, in fact we have reduced spreads on around 10 pairs in the last few weeks. Rather than the average spread in just the liquid times, I can tell you that the average spread for the whole of last week on EURUSD (based on 606,139 ticks) was 1.14 pips. Obviously I would expect that during the liquid times, this would be slightly lower.

I hope that helps and if there are any other pairs you are interested in, let me know and I will get the details.

Thanks,
Chris
An average 1.14 that is awesome! Ill take another good look. I would love to use Go. I live in Melbourne. The only other issue I have is that you are a market maker and provide the liquidity for the other side of my trade. You have a huge advantage. I have been short changed by other aussie market makers before, mainly by slippage, why should I trust you to play fair?
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  • #2,126
  • May 23, 2011 5:15am May 23, 2011 5:15am
Quoting M.A.C.Doug
An average 1.14 that is awesome! Ill take another good look. I would love to use Go. I live in Melbourne. The only other issue I have is that you are a market maker and provide the liquidity for the other side of my trade. You have a huge advantage. I have been short changed by other aussie market makers before, mainly by slippage, why should I trust you to play fair?

Hi M.A.C.Doug,
If you live in Melbourne, why not knock on their door and look them in the face when you ask the questions you want answered.
  • #2,127
  • May 23, 2011 7:00am May 23, 2011 7:00am
Quoting M.A.C.Doug
An average 1.14 that is awesome! Ill take another good look. I would love to use Go. I live in Melbourne. The only other issue I have is that you are a market maker and provide the liquidity for the other side of my trade. You have a huge advantage. I have been short changed by other aussie market makers before, mainly by slippage, why should I trust you to play fair?
Go market is an STP different from a Market maker. An STP route all orders to market no? While I will not run with a market maker the worst in pricing & price slippage like FXCM.

13
Brokers are angels
  • #2,128
  • May 23, 2011 3:43pm May 23, 2011 3:43pm
Quoting fx13
Go market is an STP different from a Market maker. An STP route all orders to market no? While I will not run with a market maker the worst in pricing & price slippage like FXCM.

13
Yeah, Go Markets is advertised as STP or Straight Through Processing broker that means they pass orders directly to their liquidity providers without intervention. Hence the S.T.P
  • #2,129
  • May 23, 2011 4:29pm May 23, 2011 4:29pm
Hey, what's wrong with Real 2 server? it shows it is connected, but no tick moves ...
  • #2,130
  • May 23, 2011 5:24pm May 23, 2011 5:24pm
Quoting suirad
Hey, what's wrong with Real 2 server? it shows it is connected, but no tick moves ...
Hi,

Can you tell me what time you were seeing this and if it was on all pairs because I can see that all the ticks have come through without any gaps. I'd appreciate some more info so I can take a further look, but all appears to be fine to me.

Thanks,
Chris
  • #2,131
  • May 24, 2011 1:29am May 24, 2011 1:29am
Hi Chris,

I notice that posters on other threads are showing an MT4 chart on the USDX see example. Can Go make this available it is a very useful guide to trading.

http://www.forexfactory.com/showthre...372&page=29833

Thanks for your continued efforts to give us punters a fair go, see I told you it would work
Money grows on the tree of persistence
  • #2,132
  • Edited 4:37am May 24, 2011 3:05am | Edited 4:37am
Quoting fx13
Go market is an STP different from a Market maker. An STP route all orders to market no? While I will not run with a market maker the worst in pricing & price slippage like FXCM.

13

Quoting Bluescalper
Yeah, Go Markets is advertised as STP or Straight Through Processing broker that means they pass orders directly to their liquidity providers without intervention. Hence the S.T.P
Sorry, Go are a market maker exactly like FXCM, your order does not go anywhere, the liquidity is provided by them. Your order may bypass a dealing desk and your execution may be automatic but Go Markets have taken the other side of your trade. Your order just went straight through which doesn't mean it went straight through to the real interbank market as you seem to believe.

No dealing desk/STP, call it what you like but they are not an ECN. They do not send your micro/mini or even standard lot trades to the big dogs. They have a hedging partner to hedge their own risk.

FXCM have been caught out falsely claiming STP and transparency. Although they said they were completely innocent and would fight the "false charges", they quickly settled out of court.
CMC markets used to separate their profitable from their unprofitable traders and only hedge themselves against the winning group Any losing trader who started to take profits from them soon found themselves on the other end of major slippage, delays and requotes.

I really want to trust Go but I have seen even Oanda widen their spreads when there was no such widening in the market. This is a tactic to increase their own profitabilty at the cost of their clients. All market makers are able to do this

I am about to transfer a sizable sum from Oanda to MBT but to do this I have to pay wire fees, wait up to a week and transfer my Aussie dollars to USD. Less than ideal to say the least. After inviting further queries from me Go seem to have gone completely silent on these particular issues

All I am asking is why should I trust you Go Markets?
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  • #2,133
  • May 24, 2011 3:40am May 24, 2011 3:40am
Quoting GoMarkets
Hi,

Can you tell me what time you were seeing this and if it was on all pairs because I can see that all the ticks have come through without any gaps. I'd appreciate some more info so I can take a further look, but all appears to be fine to me.

Thanks,
Chris
Yes, it was ok after a while, but i guess it too half an hour. ticks froze on eur/usd i think so,i haven't watched other pairs. Time was about 24:00 GMT+2.
  • #2,134
  • May 24, 2011 4:25am May 24, 2011 4:25am
Quoting fx13
Go market is an STP different from a Market maker. An STP route all orders to market no? While I will not run with a market maker the worst in pricing & price slippage like FXCM.
13
Agree with you regarding FXCM, I would not use them.
But you will be disappointed regarding STP. An STP may route to a Market Maker, a bank, a liquidity provider or a hedging partner as some like to call it. In the end all trades end up at a dealing desk. These trades dont go to the real 'market' as you seem to think. And some STP even keep trades in-house without routing since it is profitable for them because a lot of newbies will just lose their money.
  • #2,135
  • May 24, 2011 9:04am May 24, 2011 9:04am
Quoting PipStar
Agree with you regarding FXCM, I would not use them.
But you will be disappointed regarding STP. An STP may route to a Market Maker, a bank, a liquidity provider or a hedging partner as some like to call it. In the end all trades end up at a dealing desk. These trades dont go to the real 'market' as you seem to think. And some STP even keep trades in-house without routing since it is profitable for them because a lot of newbies will just lose their money.
This is one of those never-ending debates, as you'll see it come up time and time again. The rep from MBT acknoledged that the ECN will often times offset positions from other traders in going in the opposite direction, which happens in-house. This results in QUICKER fills. If you have to send every order to an outside liquidity provider, this would actually increase your risk, as now you must wait for the order to be accepted, filled, and reported back to you. Banks, fund managers, etc also use "hedging partners" and have their own algorithims for managing risk.

The fear of the whole MM vs ECN thing can be boiled down to one main concern: "Will my broker trade against me/manipulate my trades?" It is certainly understandable that with a lack of central exchange you don't want to hand your money over to just anybody and find out that the owner was a cousin of Bernie Madoff. But other than outright fraud, the traders attention can return to trading strategies.

From my point of view, we are too overly concerned about all the back of the house operations; the wholesale stuff. Do you really concern yourself with how much Walmart paid for the new stock of laptops? How it was trucked in to/from their regional distribution centers? How much the liability insurance is? Why the shipment of socks didn't arrive last week? etc. etc. Or are you just happy that you can walk into/out of store and buy AAA batteries at 3 in the morning if you need to?

As long as you get filled in/out of trades at reasonable price, does it really matter where the trade went?

Technically, all brokers are market makers in the sense that they made a retail market available to you. All contracts you sign with them will state somewhere in there that "xxxxxxx inc/Ltd is the counterparty of your trades" The primary difference between a retail ECN/STP/MM and a "true interbank ECN" is mainly the scale of the operations.
Measure trends automatically with zero lag
  • #2,136
  • May 24, 2011 3:59pm May 24, 2011 3:59pm
Hey ybfjax,

Your focus on trading strategy is impressive - you've conquered a major hurdle in trading psychology that I've struggled with in the past too.

To address concerns about FXCM's FX execution, we operate an agency model and don't profit from customer losses. We make money from the size / number of trades regardless of profitability so we have no interest in manipulating orders.

Good trading,

Quoting ybfjax
This is one of those never-ending debates, as you'll see it come up time and time again....
  • #2,137
  • Edited May 25, 2011 2:55am May 24, 2011 7:33pm | Edited May 25, 2011 2:55am
Quoting M.A.C.Doug
Sorry, Go are a market maker exactly like FXCM, your order does not go anywhere, the liquidity is provided by them. Your order may bypass a dealing desk and your execution may be automatic but Go Markets have taken the other side of your trade. Your order just went straight through which doesn't mean it went straight through to the real interbank market as you seem to believe.

No dealing desk/STP, call it what you like but they are not an ECN. They do not send your micro/mini or even standard lot trades to the big dogs. They have a hedging partner...
Hi,

We have answered this question time and time again so quite frankly we were going to ignore the comments, anyone based in Australia will know that we have to stand by our Product Disclosure Statement (PDS). In our PDS it clearly states how much we make as a rebate for each trade regardless of whether the client win/loses or is long/short.
Your based in Oz so i'm sure you agree that to upset ASIC by disclosing false info would be commercial suicide plus our latest PDS was compiled complete with ASICs approval.

I dont feel I need to sell the fact that you can trust us as we have been offering MT4 in Australia longer than most brokers and have grown in size every single month since it was launched without fail, but seeing as you are based in Melbourne if you wish to visit us you are more than welcome to arrange a meeting so we can put your mind at rest.

Cheers
  • #2,138
  • May 25, 2011 5:52pm May 25, 2011 5:52pm
Quoting ozmacca
Hi Chris,

I notice that posters on other threads are showing an MT4 chart on the USDX see example. Can Go make this available it is a very useful guide to trading.

http://www.forexfactory.com/showthre...372&page=29833

Thanks for your continued efforts to give us punters a fair go, see I told you it would work
Hi,

Sorry - this post got lost in amongst the others.

At the moment we do not have a feed for the dollar index, but it is highly likely that it will be one of the feeds we get access to shortly along with other index contracts. I will make sure that we ask for this one as I know it can be useful for some to get a broad idea of the trend of the USD.

I will keep you posted.

Thanks,
Chris
  • #2,139
  • May 25, 2011 8:13pm May 25, 2011 8:13pm
Quoting GoMarkets

... to upset ASIC by disclosing false info would be commercial suicide plus our latest PDS was compiled complete with ASICs approval.

I dont feel I need to sell the fact that you can trust us as we have been offering MT4 in Australia longer than most brokers and have grown in size every single month since it was launched without fail, ... if you wish to visit us you are more than welcome to arrange a meeting so we can put your mind at rest.

Cheers
CHECKMATE
  • #2,140
  • May 26, 2011 11:27am May 26, 2011 11:27am
Quoting M.A.C.Doug
All I am asking is why should I trust you Go Markets?
GO Markets is a fine broker. I've gotten to know GO through their hosting 2 servers in our SDCA & UK datacenters. There is not any unscrupulous business going on. IMHO: anyone who suggests otherwise is not qualified to make the statement.

I've been lucky enough to be exposed to the inside of how they operate just a little bit. All I can say is - I was impressed and we would be lucky to have more brokers work like GO does.

Anyone who follows my posts on the net knows I call it as I see it, and that is what I am doing here. I have nothing to gain by you or anyone signing up with GO...just calling it as I see it.
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