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  • #3,901
  • Nov 21, 2011 3:56pm Nov 21, 2011 3:56pm
I tried oanda out and the spreads on non majors are crappy, go markets has lower spreads than oanda on the non majors, im looking at zero pips on AUD/NZD with gomarkets, you'd think that's amazing but 5 minutes ago it was 20 pips, so gomarkets still have problems that need to be addressed.

Surely someone must know of a viable alternative.
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  • #3,902
  • Nov 21, 2011 4:53pm Nov 21, 2011 4:53pm
Quoting Sobepro
[color=#676767][color=Black]Well after 2 weeks at my new broker I thought I'd take a peak back here to see if I made the right decision..... all the same huh! 100pip spreads spikes, having to now add "check spread first" before trading to the to do list, no replies on wtf is Go-ing on over at Go, and nubcake still spewing his proGO propaganda all over everyone I see

I have now realized that I can finally trade other pairs not just EU. on go EU is really one of only 2-3 pairs with low spread. My new...
" Check spread first" has been added to my list. It's a shame. The spreads are too erratic.
FF journal: Peaks and Troffs
  • #3,903
  • Nov 21, 2011 4:56pm Nov 21, 2011 4:56pm
Quoting leerees
I tried oanda out and the spreads on non majors are crappy, go markets has lower spreads than oanda on the non majors, im looking at zero pips on AUD/NZD with gomarkets, you'd think that's amazing but 5 minutes ago it was 20 pips, so gomarkets still have problems that need to be addressed.

Surely someone must know of a viable alternative.
There are plenty of alternatives

LMAX
MBTrading
Dukascopy
pepperstone or vantage (if you must use MT4 and want a similar broker)
  • #3,904
  • Nov 22, 2011 12:44am Nov 22, 2011 12:44am
great spreads this afternoon! GU GJ arghhhhhhhhhhhhh....
  • #3,905
  • Nov 22, 2011 6:47am Nov 22, 2011 6:47am
  •  onu
  • | Joined Feb 2006 | Status: superior senior member | 746 Posts
4 to 10 pips slippage on entry and exit???

Como on GO, you are now the leader of the lowest bucketshop league...

How about looking for a REAL liquidity provider?
  • #3,906
  • Nov 22, 2011 8:25pm Nov 22, 2011 8:25pm
Yeah poor form for sure, whats worse is the silence only takes few min to post a update. I have vertually stopped trading with them the trading vol must be down heaps.
  • #3,907
  • Edited 3:10am Nov 23, 2011 2:41am | Edited 3:10am
Quoting havaiana
There are plenty of alternatives

LMAX
MBTrading
Dukascopy
pepperstone or vantage (if you must use MT4 and want a similar broker)
I'm going to sign up with LMAX next year as soon as they offer mt4.

I've opened an account with instaforex just for collecting cashbackforex rebates. Don't take this as a recommendation, Insta is a bucket shop only suitable for grid trading / rebate collecting.

I've heard bad things about pepperstone messing with trades.

If LMAX don't bring to the table then I guess I'll go with MB Trading. Thanks for the advice.

The best broker, in terms of spreads actually appears to be axi trader although i was put off by all the fake posters in the thread.
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  • #3,908
  • Nov 23, 2011 3:42am Nov 23, 2011 3:42am
Quoting leerees
I'm going to sign up with LMAX next year as soon as they offer mt4.

I've opened an account with instaforex just for collecting cashbackforex rebates. Don't take this as a recommendation, Insta is a bucket shop only suitable for grid trading / rebate collecting.

I've heard bad things about pepperstone messing with trades.

If LMAX don't bring to the table then I guess I'll go with MB Trading. Thanks for the advice.

The best broker, in terms of spreads actually appears to be axi trader although i was put off by all the fake posters in the...

- How would you take advantage of a broker just for the rebates? Would you just be scalping and trying to exit on b/e so the balance stays the same but you get the rebate from the spread?

- And how would a bucket shop be suitable for grid trading, like more so than a 'regular' broker?

- What's the worst stuff you've heard about pepperstone? All day their spreads stay below a pip, that's pretty attractive. Even with slippage or requotes the entry is still less than a pip from market.
  • #3,909
  • Nov 23, 2011 4:06am Nov 23, 2011 4:06am
I'm so glad I escaped this broker...I was seriously considering them....then they started spamming my mail...and I realized they were a bucketshop....I am wary of brokers from Australia ....the AISC is a joke.
wo-yoy! wo-yoy! wo-yoy! wo-yoi! wo-yoy-yoy-yoy!
  • #3,910
  • Nov 23, 2011 4:58am Nov 23, 2011 4:58am
Quoting jeanlouie

- How would you take advantage of a broker just for the rebates? Would you just be scalping and trying to exit on b/e so the balance stays the same but you get the rebate from the spread?

- And how would a bucket shop be suitable for grid trading, like more so than a 'regular' broker?

.....
Technically, according to their public agreement, you must profit or loss from your trades. You cannot earn rebates on break-even trades.

This is a poor strategy. The goal is to PROFIT from the grid trading strategy itself, then the rebates are a bonus. On a couple of the majors, with the rebates the spreads become attractive. I'm planning to go live today.

The more and more i looked at their setup, I must admit I am impressed with instaforex. It looks like they go out of their way to make their trading environment as seemless, transparent, and secure as possible
Measure trends automatically with zero lag
  • #3,911
  • Nov 23, 2011 5:03am Nov 23, 2011 5:03am
Quoting pemully
I'm so glad I escaped this broker...I was seriously considering them....then they started spamming my mail...and I realized they were a bucketshop....I am wary of brokers from Australia ....the AISC is a joke.
Spamming your email? How many emails did you receive in say a week?

And I don't consider ASIC as useless, regarding markets they enforce the Corporations Act, Financial Market Supervision Act amendment and the Insurance Contracts Act, if a company is not found to breach any laws in those acts then ASIC won't do anything...why would they.

-> In the last 10 days
1) a man was jailed for fraud in misleading clients about investing money with him in forex
2) company director was jailed for defrauding $2million in property investments
3) a managing director was banned from managing again for 5 years
4) suspended the financial services license of company Paritech for failing to comply with obligations
5) a stockbroker was charged with fraud
6) suspended operation and froze $180k in the account of an Australian FX, metals and cfd broker aftfx.com.au for operating without license
7) canceled the Australian Financial Services License of Mark Powers who used to be an authorizing rep for Got Money FX and provided advice and authorization for companies to provide derivatives and forex.

When laws are actually broken, ASIC does do something, remember the above examples are only in the last week and a half, from today to 14 Nov.
  • #3,912
  • Nov 23, 2011 5:16am Nov 23, 2011 5:16am
Quoting ybfjax
Technically, according to their public agreement, you must profit or loss from your trades. You cannot earn rebates on break-even trades.

This is a poor strategy. The goal is to PROFIT from the grid trading strategy itself, then the rebates are a bonus. On a couple of the majors, with the rebates the spreads become attractive. I'm planning to go live today.

The more and more i looked at their setup, I must admit I am impressed with instaforex. It looks like they go out of their way to make their trading environment as seemless, transparent,...
Hmm, "you must profit or loss from your trades", so just move the stop or tp to 0.1p...right? It occurs to me that could be a fairly low risk of guaranteeing a profit of whatever the rebate value is, and of course the 0.1p profit to technically qualify for the rebate.

Oh, I get what you're saying about the grid trading, a whole lot of trades being made and may as well get a rebate from every one as a bonus. What's the interval distance in your grid if you don't mind me asking? And do you use an ea with buysell stop orders? I've been meaning to browse through grid trading again.
  • #3,913
  • Nov 23, 2011 9:36am Nov 23, 2011 9:36am
GoM need to get their act together already. They were one of the best brokers out there for the past 2 years, and now they are pissing away their reputation.

Unless client have bothered to investigate themselves, they have given no information about the change in liquidity providers or updates about the problems they have been having with enormous slippage, spreads, and delays in execution.

If they can't even keep their clients in the loop through a basic email, then they are going to start losing business out of customer frustration.
  • #3,914
  • Nov 23, 2011 11:27pm Nov 23, 2011 11:27pm
If you cannot resolve the problem with them, or if your complaint is about misconduct or illegal activity by a company or person, then ASIC may be one of a number of government and non-government organisations able to help you.

Quoting pemully
I'm so glad I escaped this broker...I was seriously considering them....then they started spamming my mail...and I realized they were a bucketshop....I am wary of brokers from Australia ....the AISC is a joke.
  • #3,915
  • Nov 24, 2011 3:20am Nov 24, 2011 3:20am
Quoting MelbTrader
GoM need to get their act together already. They were one of the best brokers out there for the past 2 years, and now they are pissing away their reputation.

Unless client have bothered to investigate themselves, they have given no information about the change in liquidity providers or updates about the problems they have been having with enormous slippage, spreads, and delays in execution.

If they can't even keep their clients in the loop through a basic email, then they are going to start losing business out of customer frustration.
i am v.close to open a acct with Go until i went for a holiday and thinking maybe do it after i come back,looking at it now i think its better to avoid Go all together,No? btw where is Chris fr Go? disappear in to thin air already? anyone?
  • #3,916
  • Nov 24, 2011 4:06am Nov 24, 2011 4:06am
I've been on holidays for the last 2 weeks, looks like the liquidity problems aren't fixed.. i remember something about GO getting new liquidity providers on the week I left... guess it didn't happen?

Any concensus on what a good alternative is?
  • #3,917
  • Nov 24, 2011 4:39am Nov 24, 2011 4:39am
Quoting stockmarcus
I've been on holidays for the last 2 weeks, looks like the liquidity problems aren't fixed.. i remember something about GO getting new liquidity providers on the week I left... guess it didn't happen?

Any concensus on what a good alternative is?
Apparently the new liquidity provider did happen, but the problems are still around. I personally don't have a recommendation of an alternative broker.... however.... I have seen some big spreads at different times as well as some good & nearly back to normal ones... but as far as slippage goes I have gained pretty much as often as I have lost.
  • #3,918
  • Nov 24, 2011 3:16pm Nov 24, 2011 3:16pm
I’ve decided to use Oanda for the time being. Hopefully GO can sort out their spreads, order execution and erroneous ticks. Until then, its goodbye.
.
  • #3,919
  • Nov 24, 2011 5:37pm Nov 24, 2011 5:37pm
I have had no problems with AxiTrader.

Quoting stockmarcus
I've been on holidays for the last 2 weeks, looks like the liquidity problems aren't fixed.. i remember something about GO getting new liquidity providers on the week I left... guess it didn't happen?

Any concensus on what a good alternative is?
  • #3,920
  • Nov 24, 2011 7:32pm Nov 24, 2011 7:32pm
look at the picture:

Attached Image (click to enlarge)
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why can not close?
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