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  • #3,761
  • Nov 9, 2011 6:59pm Nov 9, 2011 6:59pm
Quoting kj63
glad I didn't have my stop in when this amazing picture happened!
it was 11.32 am aussie time, employment news.
How can you trade with this sort of spread when hardly anything is happening.
By our actions we are known
  • #3,762
  • Nov 9, 2011 7:04pm Nov 9, 2011 7:04pm
I know, having a real job and trading aussie daytime is a pain, I need to give up work and stay up at night!
  • #3,763
  • Edited 9:32pm Nov 9, 2011 9:08pm | Edited 9:32pm
This is incredible. I abandoned GO when they were having terrible connectivity issues and by the looks of things, it's a good thing I made the move. I keep an eye on this thread because when I first signed up with GO, I was very happy with them and considered them a cut above the rest. GO are in fact perhaps the largest reason that I have become so very interested in Aussie brokers so it was actually a very difficult decision for me to make in regard to leaving GO behind.

What I'm rather alarmed about now in much the same way as many others here in respect to Chris or any other GO rep' not being here to say anything. It's absolutely reasonable to pick up the magic dialing wand and make a phone call sure but considering that GO have been present here in the past and frequently, it's also reasonable to expect some sort of communication here in the forum. It's obvious that GO have decided previously that this forum in particular (as well as others I assume) is worth some sort of investment in time to keep in touch with present and potential customers. That's why other brokerage reps are here as well. Jason from FXCM must be one of FF's most active users for crying out loud!

What's obvious here is that GO is having significant problems and their absence here is very noticeable because of their previous proclivity to posting here.
  • #3,764
  • Nov 9, 2011 11:03pm Nov 9, 2011 11:03pm
Quoting kj63
glad I didn't have my stop in when this amazing picture happened!
it was 11.32 am aussie time, employment news.
No way should Aussie employment news effect EU like that, it looks like about 25 pip spread ?

If it was an Aussie pair then maybe 10 pips spread right on news release but not on EU IMO
Money grows on the tree of persistence
  • #3,765
  • Nov 9, 2011 11:17pm Nov 9, 2011 11:17pm
Quoting sutters
Hey Chris and co,
Any chance of a update of where you guys are at with the liquidity provider and are you working on something else etc.
I dont expect you to come in every day or even 2-3 days but a update every few days would be great only takes 2 min to post soemthing up.
I must say I am getting a bit worried about you guys I have been with you for along time and watched you grow and go through all kinds of stages but this seems to be the worst I have seen and I am watching person after person come on here and say thats it im out and they dont...
I can agree with all of the above. I have been GO for 2 years and I am very concerned now. I have now started the hunt for a decent alternative. I am sure I am not alone on this point. Trading is tough anyway but you need as many people on your side as possible... your broker being one of them (within reason of course)

In 2 years I have had no slippage issues on my trades, now in the last week I have had slippage on ALL but one of my trades.

I am not going to 'bash' them here, this is a business to me and as such I need to know where my business partners stand. They are too vague about this, so they are forcing me to look elsewhere by not offering answers and firm resolutions.

Scott.
  • #3,766
  • Nov 9, 2011 11:57pm Nov 9, 2011 11:57pm
Quoting PeterE
something very odd going on with GOMs spreads

comparing to Oanda, EURNZD 6pips, Vs. GOMs 13pips

.
looks they have lost all LP, and trying to fill internally or forwarded to another mm broker don't trade until they have fix it , wait for GO official post.
Mohan
  • #3,767
  • Nov 10, 2011 12:01am Nov 10, 2011 12:01am
i've been watching EURNZD at GOM today, very strange indeed:

1] highs and lows of price bars compared to other feeds are vastly different

eg., at 5.50GMT price reached 7427ish at Oanda, GOM high 7407

2] spreads as high as 14pips, others br0kers averaging 6ish

3] not getting all ticks, price is stationary when other feeds are active

4] price lags other markets by a constant of ~3pips
  • #3,768
  • Nov 10, 2011 12:08am Nov 10, 2011 12:08am
Quoting PeterE
i've been watching EURNZD at GOM today, very strange indeed:

1] highs and lows of price bars compared to other feeds are vastly different

eg., at 5.50GMT price reached 7427ish at Oanda, GOM high 7407

2] spreads as high as 14pips, others br0kers averaging 6ish

3] not getting all ticks, price is stationary when other feeds are active

4] price lags other markets by a constant of ~3pips

can you arbitrage number 4 at all?
Congratulations ScalaFX for coming out of the closet!
  • #3,769
  • Nov 10, 2011 12:14am Nov 10, 2011 12:14am
with a 14 pip spread and the order execution delays at GOM, no i cant

Quoting nubcake
can you arbitrage number 4 at all?
  • #3,770
  • Nov 10, 2011 12:14am Nov 10, 2011 12:14am
Quoting PeterE
not with a 14 pip spread and the order execution delays at GOM, no i cant
of course. by the time i got to number 4 i'd already forgotten 1 through 3. my bad.
Congratulations ScalaFX for coming out of the closet!
  • #3,771
  • Nov 10, 2011 2:31am Nov 10, 2011 2:31am
Hi All,
I rarely bother to post on Forex Factory or any other forum for that matter, but like all of you I was also caught up in the 22 pip spread debacle.
I was to slow to get a screen shot I am glad some of you did.
As I stated in my email to GOM, I have been trading FX for 7 years and have never seen 6 pairs all simultaneously go to a 22 pip spread, I assumed it was bad data, sent them an email showing them my trade asked them to put it right and so far they have blamed low liquidity at news time.
22 pips on 6 pairs low liquidity not likely, but we have to give them the benefit of doubt or GO elsewhere.
I saw something like this happen with CMC years ago, and voted with my feet and once again if I do not hear from them in the next few days I am GOing away from GO ASAP.

Thanks to all who posted sometimes you think you were just seeing things and it is good to be able to remind yourself you are not alone even if it doesnt get your dolllars back.

Cheers
Bazzj
  • #3,772
  • Edited 3:23am Nov 10, 2011 2:51am | Edited 3:23am
Don't bother phoning the European call center, I phoned them and it's clear the person who I spoke to was an "equality statistic", i believe the Netherlands is like the UK in that a company must employ x amount of stupid people to avoid discriminating against retards.

It really does amaze me how a broker can employ such brainless idiots to liase with clients who are depositing sometimes large sums of money to trade with. The live chat thing is just as bad, first they deny any problems then when you mention that it's being discussed on a forum they say email IT. Why can't they use their initiative and email IT themselves? no wait, that would require a functioning brain.

With regards to the trading I'm actually sick to death of all this bs, Chris told us the spreads would be better well they're not, the slippage is worse than Alpari's requotes so what's the point in trading if we are gauranteed to loose every time.

Have Go Markets turned into a market maker? Obviously this is true because Chris hasn't came back and said otherwise. You'd think he'd be on here now trying to defend Go Markets considering it's getting slated into the ground. If this were my business I'd be watching this page like a hawk. But no he's now burying his head in the sand. He should get a job in Brussels, he'd make a great EU leader.

I'm guessing this whole fiasco is all because of a certain popular EA that collects millions of pips. And yes, I tried that EA just to be certain and the slippage on it's trades are insane. What annoys me is my own strategy is based on candle deviations and that EA more often than not trades the same time as mine so I get caught up in the manipulation.

This really is the last straw for me, I'm not just going to sit here and loose money if we don't get any feedback by Friday I'm withdrawing my money.

SORT IT OUT!!!!!!!!!!!!!!

Guys can anybody recommend a broker with <500ms execution, low spread and low slippage?
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  • #3,773
  • Nov 10, 2011 5:07am Nov 10, 2011 5:07am
Quoting Bazzj
I was to slow to get a screen shot I am glad some of you did.
As I stated in my email to GOM, I have been trading FX for 7 years and have never seen 6 pairs all simultaneously go to a 22 pip spread, I assumed it was bad data, sent them an email showing them my trade asked them to put it right and so far they have blamed low liquidity at news time.

Thanks to all who posted sometimes you think you were just seeing things and it is good to be able to remind yourself you are not alone even if it doesnt get your dolllars back.

Cheers
Bazzj
I am sad that you have posted for this reason. It is interesting to me that after 7 years you were trading with GoM, as I was starting to feel like I was a bit of a bunny for putting my money with them.
I am also with fxdd (they have been good with paying back money - paypal works well for me, but spreads are a bit higher - maybe that is why they are surviving), and have used ibfx (until I blew my account - and have not had spare cash to input), and I went with GoM as I wanted to have an account in aussie dollars, and be able to do bank transfer easily and quickly.
I quickly did a copy of the screen with the snipping tool with windows 7 if anyone else sees something weird and wonders the easiest way to capture it.

Previously I have found talking to the GoM people during aussie hours to be a very helpful experience, but apart from one attempt at chat where nobody was available, I have not rung or worried as I have a small account I BELIEVED Chris when he said it was being worked on. *sigh* I still have hope....or is that the fatal hopium that accompanies my irrational eurusd bear leanings???
  • #3,774
  • Nov 10, 2011 12:23pm Nov 10, 2011 12:23pm
people stop complaining about spreads and GO scalp nzd/usd, 0.0-1.0p the last hour
MarginTrader All Time Return: na
  • #3,775
  • Nov 10, 2011 2:56pm Nov 10, 2011 2:56pm
Quoting MaryJane
people stop complaining about spreads and GO scalp nzd/usd, 0.0-1.0p the last hour
Yes, great 4.8 pips right now!
  • #3,776
  • Nov 10, 2011 4:22pm Nov 10, 2011 4:22pm
Quoting Sobepro
Aussie Brokers are good because they have strict regulating bodies there.
not really ASIC is toothless snack (watchdog) maximum they can make noise (they hardly do that ) , just Google "ASIC toothless" you will find lot articles about it.
Mohan
  • #3,777
  • Nov 10, 2011 5:09pm Nov 10, 2011 5:09pm
Quoting mohan76
not really ASIC is toothless snack (watchdog) maximum they can make noise (they hardly do that ) , just Google "ASIC toothless" you will find lot articles about it.
Yep, that being regulated by ASIC spin doesn't impress me at all. Once anyone has done a moonlight flit that is the end. Your money may be held in a NAB account, so what. The broker has access, not you. I just hope that the Aussie economy is a bit more robust and that we might hear on the news a bit sooner if there is dodgy dealing happening, but probably not.
Summary: No warm fuzzy feeling here.
  • #3,778
  • Nov 10, 2011 5:09pm Nov 10, 2011 5:09pm
Quoting Sobepro
...Switching from Go was a great decision and I would never look back. I also went with galaxyvisions VPS it's only $19 a month if you use code PSTONE My vps ping is 61ms and I get on average between 91ms-141ms compared with 390ms that I got at GO.
I've also opened account (ECN) with them ... just over a month ago (due to the ongoing and not rectified issues at GoMarkets)
but I've chosen CNS - another VPS, because they're even closer to Pepperstone's Data Centre (average execution time 20-25 ms)
... So far I'm very satisfied as there isn't any problems and this allows me to trade stress-free again with full confidence.
  • #3,779
  • Nov 10, 2011 5:13pm Nov 10, 2011 5:13pm
Quoting MaryJane
people stop complaining about spreads and GO scalp nzd/usd, 0.0-1.0p the last hour
Really, stop complaining about spreads? Really, we are just saying what we see...and 22 pips, stop complaining??? Just take it, whatever crap you get...sure....
Rightyo...off to the Rememberance Day festivities anyhow...
  • #3,780
  • Nov 10, 2011 7:28pm Nov 10, 2011 7:28pm
Hi Guys,

I had sent this email to someone earlier in response to an enquiry earlier regarding spreads/trading conditions and thought I would post it here:

The reason for the difference in spreads and change in price feed recently is because we have changed our liquidity provider. We had reached a stage where we believed that due to the massive volumes being sent through after major expansion, we should look for alternative setups, so set about to find a new LP. After a long period of due diligence, we found a suitable party and started sending the flow of client trades through to them from Monday. As you can imagine, it takes a while for a liquidity provider to get accustomed to new flow, especially of this volume and given the fact that a large number of our clients use EAs, there can be extremely large volumes all at the same time on the same currency pair. This can come as a shock to a genuine STP provider as they want to make sure they are not exposed to any risk, much as we do not want to be. On Monday (the first day using our new LP) there was a one minute period in the night where approximately 185,000,000 was sent through to trade the same currency pair from a number of different clients. This caused some surprise at the banks contributing to the feed and for a period, the spreads offered to us were widened as they became accustomed to the nature of the flow we were sending them. Unfortunately many clients do not understand how the market works and demand and instant execution with no slippage, and as I am sure you know that is not possible when there is not enough liquidity to execute such an order. Most LPs typically have around 10,000,000 on the bid or ask on EURUSD at any one time, so when orders of almost 20 times that go through (just from the one provider) you can imagine how difficult it is for them to execute at the same/similar rates.

As the new LP has become used to our trading over the past week the conditions have improved and I expect them to continue to do so over the coming weeks.

As I am sure you can appreciate, the amount of work involved in such a transition is huge, and the Australian time zone makes it very difficult for communication at times. Personally I have been working from 3 or 4 AM most days until around midnight as we worked to finalise the setup and then as we continue to assist our LP in fine tuning. I’m not asking for sympathy, but as you can imagine it hasn’t left much time for going on Forums etc.

Our main goal with our new liquidity provider is to give excellent execution, which I believe is being and will be the case. Whilst our spreads at the moment are not the tightest available in the market, and are not likely to be, clients will in the most part benefit from better execution, truly representative of the market which will more than make up for a slightly wider spread. We have also been able to remove the minimum stop distance and I expect to be able to increase the maximum trade size as well in the next couple of weeks.

As it says above we are still working with our liquidity provider as they get accustomed to the flow of our client's trades and expect the trading conditions to further improve over the next week or so. The average EURUSD spread is 0.4 pips lower than it was at this time last week, so you can see it improving, but it will be improving further.

Thanks,
Chris
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