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GoMarkets Discussion

  • #3,781
  • Nov 10, 2011 8:33pm Nov 10, 2011 8:33pm
Chris what concerns me is the massive spread widening on all pairs, spreads spike upwards of 22pips across all pairs and this makes trading any timeframe below the daily unviable IMO.

Not to mention the slippage on orders, its very sad atm.

Regards.
  • #3,782
  • Nov 10, 2011 11:10pm Nov 10, 2011 11:10pm
I had also emailed in a question asking what happens to client funds when a 22 pip spread spike takes out a stop loss ( as happened to me ).

ie....does that 20 pips of $$$ end up in the LP's account?

Great business to be in, just widen the spread, and pocket the cash.

Any light you could shed into the mechanics of how it works would be great.
- Look to the left, Trade to the right - I am the system
  • #3,783
  • Nov 11, 2011 12:04am Nov 11, 2011 12:04am
to anyone effected,

how are GOM managing stops taken out by erroneous ticks?

refunding you or ignoring you?
  • #3,784
  • Nov 11, 2011 12:24am Nov 11, 2011 12:24am
In my circumstance, I specifically emailed and requested that the trade that was taken out by the 22pip spread spike be reversed.......but just got a very non committal response explaining that their LP was sending them those prices, and there was nothing they could do.

That was my reason for leaving - why should I deal with an organisation where a third party ( who I have no idea who they are ) is able to just take my money at will, and who GO also seem to have absolutely no control over.

I figured it was too much of a risk.

Funny thing is, the new broker I signed up with offered a 10% funding bonus, so the money i lost on the 20 pip blowout is now back in my account and then some, so it's all worked out in the end.

On one of the calls I did have with GO, they seemed to think it was definitely related to an EA that was so widely used at GO and other brokers being serviced by this same LP that the influx of all the exact same orders at the exact same time/price was causing these liquidity issues.

Either way, 22pip spikes on all pairs around news times ( even when the news doesn't relate to that pair ) is just unacceptable.

I sincerely hope they sort it out.........things were good while they were good.
- Look to the left, Trade to the right - I am the system
  • #3,785
  • Nov 11, 2011 1:04am Nov 11, 2011 1:04am
Quoting PeterE
to anyone effected,

how are GOM managing stops taken out by erroneous ticks?

refunding you or ignoring you?
I got the same response as Sebastiaan76 above. Will probably make a move to another broker soon unless it stops happenig and things settle down as Chris has alluded to. Slippage is still all over the place, but I did get 3 pips positive slippage on a trade today. Still I would rather it was back to how it was weeks ago.
  • #3,786
  • Nov 11, 2011 2:29am Nov 11, 2011 2:29am
chris Who are you using as the new Liquidity Provider Joe's
Currency and lemonade stand???

well good new for you guys, I guess you wont have to worry about the "massive" amount of orders going through at the same time pretty soon huh
  • #3,787
  • Nov 11, 2011 3:00am Nov 11, 2011 3:00am
I'm getting multiple winning trades turn into loosing trades on GBP/USD due to slippage, this is at times when the market is very calm. You say people don't understand how the market works well I 100% understand that before this new LP my orders were never slipped.

Chris I'm sorry but if you think these conditions are exceptable then you are deluding yourself. There clearly are alternatives to GoMarkets and you hold no monopoly.

If you want to stop loosing customers then you should be refunding the losses we have had to endure becaue of some 3rd party who we (the customers) have no contact with.

What really annoys me is the fact that we have to pay the price because of your LP, YOU should be paying for these losses, NOT US!

This liquidity provider IS UNSUITABLE for gomarkets, why? because it only offers 10,000,000. You said it yourself! We need 20 times that so ditch these cowboys and connect us to a proper LP, or get 19 other LP's or at least explain to us why it worked before and now it doesn't, maybe you have an LP that offered 180,000,000 so why not now. Just thinking about this whole situation absolute infuriates me. I feel like we are being lied to.

The spreads we can adjust to but the SLIPPAGE, that's just not fair.
{Promotion Removed}
  • #3,788
  • Nov 11, 2011 3:55am Nov 11, 2011 3:55am
Quoting leerees
What really annoys me is the fact that we have to pay the price because of your LP, YOU should be paying for these losses, NOT US!
lol that is hilarious.

gom provide a service. they don't force you to trade with them. you have every opportunity to trade with so many other brokers that it's pathetic for you to be here claiming such rubbish. you should be paying for your losses. you have. case closed. if you don't like a price then you don't trade. if you don't like a service then you don't trade.

chris has said that the liquidity demands have been outrageous. that's not gom's fault. that's not the liquidity providers fault. if a market can't be made for certain trades then suck it up and accept it. all you little EA bitches are ruining it for yourselves. if gom make it so that you can all dump mass demands on the market at once then good for gom for doing that, else too bad and suck it up.

nobody ever likes change. always with the kicking and screaming. never taking charge of your own situation and always looking to blame others for your own choices.
Congratulations ScalaFX for coming out of the closet!
  • #3,789
  • Nov 11, 2011 4:27am Nov 11, 2011 4:27am
Quoting nubcake
lol that is hilarious.

gom provide a service. they don't force you to trade with them.

if a market can't be made for certain trades then suck it up and accept it. all you little EA bitches are ruining it for yourselves. if gom make it so that you can all dump mass demands on the market at once then good for gom for doing that, else too bad and suck it up.
The title of the thread is GoMarket Discussion. People are discussing. I am not an EA bitch, I just want to have a simple little trade when I personally decide to put one in. That is all. Many of us are not feeling very happy and we come in here to DISCUSS it. I am even more determined now not to SUCK IT UP and get whatever shaffting seems fair.
  • #3,790
  • Nov 11, 2011 7:24am Nov 11, 2011 7:24am
Would be nice if a trader could obtain the spread "advertised" on GoMarkets website when they are occasionally updated.

Also the compare spreads function on the website is also broken.......
  • #3,791
  • Nov 11, 2011 8:28am Nov 11, 2011 8:28am
Hi,

I didn't post any more over GO Market issues since weeks. Guess why? I finally decided to move out. Now everybody see how bad they turned and we had month's ago the early signs.

This broker is loosing customers trust & keeping lying about it.

What I can't understand is why we can't find a reliable and "honest broker" that can live with the spread without turning rogue!

Good luck guys but soon or later decision have to be made, moving away is currently the best rather than loosing time complaining with such SCAM!

13
Brokers are angels
  • #3,792
  • Nov 11, 2011 12:08pm Nov 11, 2011 12:08pm
Quoting fx13
Hi,

I didn't post any more over GO Market issues since weeks. Guess why? I finally decided to move out. Now everybody see how bad they turned and we had month's ago the early signs.

This broker is loosing customers trust & keeping lying about it.

What I can't understand is why we can't find a reliable and "honest broker" that can live with the spread without turning rogue!

Good luck guys but soon or later decision have to be made, moving away is currently the best rather than loosing time complaining with such SCAM!

13
On the previous page they've mentioned the problem of a certain ea being used that sends in a huge volume of orders that a lp can't fill. It's not GoMs fault that the lp has to take precautions against this. They admit there are issues and they work on them, it's not their goal to screw traders over, I doubt they sat in the office and had a brainstorm of how to increase the spead 10x.

Maybe there are many reliable and honest brokers, maybe you've had accounts with some in the past and left, and maybe in normal business operations for any broker there will always be some instances that make some traders call out scam. A picture comes to mind of a person making a call in a train tunnel and calling his phone company a scam because his important call got dropouts.

I've asked this before to some one else, is there any broker you've had an account with or not, that you would not call a scam?
  • #3,793
  • Nov 11, 2011 3:56pm Nov 11, 2011 3:56pm
i think irritated GOM customers will feel a lot better about things if they get proactive and start exploring alternative brokers

i'm going to wait a little longer and see if things resolve themself, but frankly, my expectations are very low; given there have been a succession of royal stuff-ups at GOM
  • #3,794
  • Nov 11, 2011 7:04pm Nov 11, 2011 7:04pm
Quoting jeanlouie

I've asked this before to some one else, is there any broker you've had an account with or not, that you would not call a scam?
Yes, a futures broker.
  • #3,795
  • Nov 11, 2011 7:13pm Nov 11, 2011 7:13pm
Quoting PeterE
i think irritated GOM customers will feel a lot better about things if they get proactive and start exploring alternative brokers

i'm going to wait a little longer and see if things resolve themself, but frankly, my expectations are very low; given there have been a succession of royal stuff-ups at GOM
My short term trading is via futures. I saw enough issues several weeks ago with GOM (documented by my posts) to return to futs.
Longer term trading and some cross trading i'm taking a look at Collective FX.
  • #3,796
  • Nov 11, 2011 11:53pm Nov 11, 2011 11:53pm
Quoting mohan76
check your Mt4 history do you see such a huge volume on any pair on 1 minute chart /history ?
cable is the most traded pair @ gom

volume history shows recent technical/ spread issue did not effected GO business (small reduction in volume).

Don't tell me that, tell Chris that and ask why his words about a volume surge from an ea aren't showing up in mt4 volume history.

Chris, got an answer here for us?
  • #3,797
  • Nov 12, 2011 12:10am Nov 12, 2011 12:10am
Quoting jeanlouie
Don't tell me that, tell Chris that and ask why his words about a volume surge from an ea aren't showing up in mt4 volume history.

Chris, got an answer here for us?
you are joking right?

is mt4 volume actual volume? when it shows eurusd m1 volume of, let's say for example, 110.... one hundred and ten WHAT? when you discover the answer you'll understand why i think you are a total retard.
Congratulations ScalaFX for coming out of the closet!
  • #3,798
  • Nov 12, 2011 12:33am Nov 12, 2011 12:33am
Quoting nubcake
you are joking right?

is mt4 volume actual volume? when it shows eurusd m1 volume of, let's say for example, 110.... one hundred and ten WHAT? when you discover the answer you'll understand why i think you are a total retard.

Sigh, yes, mt4 volume is based on tick volume, your statement should be directly at who I sarcastically replied to after I mentioned the volume of orders from an ea problem to someone else that GoM Chris mentioned on the previous page...
  • #3,799
  • Nov 12, 2011 12:41am Nov 12, 2011 12:41am
Quoting jeanlouie
Sigh, yes, mt4 volume is based on tick volume, your statement should be directly at who I sarcastically replied to after I mentioned the volume of orders from an ea problem to someone else that GoM Chris mentioned on the previous page...
your sarcasm was too subtle... i'll cop that one.

MOHAN : go learn wtf mt4 volume is and then explain to the rest of us what you find, and how this relates in any way, shape, or form, with the amount of volume gom are or are not receiving, and how this relates in any way to the underlying market prices reflected on anyone's chart!

it must be about six months since someone last mentioned volume... the friggin' cycle now repeats as it always will >/
Congratulations ScalaFX for coming out of the closet!
  • #3,800
  • Nov 12, 2011 1:36am Nov 12, 2011 1:36am
it seem that Go is having alot of issues that needed attention,where r u Chris?
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