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  • #4,701
  • Apr 24, 2013 4:28am Apr 24, 2013 4:28am
No amount of "fringe savings" and "carrot" would compel me to deposit with them again. If they were really that sincere and value us as clients of Go Market, they can start by replying the doubts and issues in this thread.

I should suspect something was amiss when Chris left the company. He must knew something was wrong with the new management and decide to jump ship. Hmm... I wonder where he is now...
  • #4,702
  • Apr 29, 2013 11:06pm Apr 29, 2013 11:06pm
  •  onu
  • | Joined Feb 2006 | Status: superior senior member | 746 Posts
Quoting Layzars
{quote} I'm sorry, but their feeble excuse of latency arbitrage abusing EAs just doesn't fly; it's a smokescreen, a boogeyman. For one, regardless of the EA used to the best of my knowledge, in no case have they ever proven that latency arbitrage was the culprit, and they _certainly_ have not proven it in my case, even after my explicit request. Further, they haven't even cited the passages in their Terms and Conditions and Product Disclosure Statement where any of these reversals are authorized regardless of the strategy used (freezing of account...
Any update on this hoax??
  • #4,703
  • Apr 30, 2013 4:40am Apr 30, 2013 4:40am
Well, I've had my account balance corrected, I think?
It's back about where I would expect it to be but I had asked them for detailed information about the problem, I received nothing, even after it being them that asked me to send the support request email.

So much for this "first class customer service" they self promote.
I would think that given what happened me receiving a detailed explanation would just be plain due diligence and basic customer service.

I would like to see how they came to the figure that they corrected my account with.
As it's not a simple case of x amount + interest, I'd really like to see their working.

Been too busy at work to call them, but I'll get around to it as I don't believe in complaining on forums and not letting the party at fault know your opinion.
I'll be interested to hear the response to my question about the half hearted apology email they sent out and how they possibly think I would in my right mind deposit more money when half of my account balance was currently missing.... sheesh... :
  • #4,704
  • Apr 30, 2013 5:39am Apr 30, 2013 5:39am
Quoting drayzen
Well, I've had my account balance corrected, I think? It's back about where I would expect it to be but I had asked them for detailed information about the problem, I received nothing, even after it being them that asked me to send the support request email. So much for this "first class customer service" they self promote. I would think that given what happened me receiving a detailed explanation would just be plain due diligence and basic customer service. I would like to see how they came to the figure that they corrected my account with. As...
with this type of services,i wont be surprised that this broker will go burst v.soon! moreover,it seem to me that they actually r having problems now,good luck to those who still holding to their live accts!
  • #4,705
  • May 5, 2013 2:32pm May 5, 2013 2:32pm
Quoting onu
{quote} Any update on this hoax??
They made me a grossly insulting settlement offer for approximately 25% of the profits annulled, with rights of withdrawal contingent on trading 50 lots with them. This ridiculous, audacious 'offer' was of course promptly rebuked.

Like hell I'm enriching these criminals by even a penny more after all they've done.


I've pursued arbitration with the Financial Ombudsman Service, and I strongly recommend anyone else affected by their arbitrary profit cancellations do so as well.
Offering $1.50 (21%)/RTL Commission Discounts at IC Markets & Global Prime
  • #4,706
  • May 6, 2013 1:25am May 6, 2013 1:25am
Quoting Layzars
{quote} They made me a grossly insulting settlement offer for approximately 25% of the profits annulled, with rights of withdrawal contingent on trading 50 lots with them. This ridiculous, audacious 'offer' was of course promptly rebuked. Like hell I'm enriching these criminals by even a penny more after all they've done. I've pursued arbitration with the Financial Ombudsman Service, and I strongly recommend anyone else affected by their arbitrary profit cancellations do so as well.
Could you copy that email/pdf settlement that you received? You can block out sensitive information.

Why in the world would they want you to continue trading with them if they went through all that trouble of adjusting your account because you had previously used inappropriate trading methods?
Measure trends automatically with zero lag
  • #4,707
  • May 6, 2013 8:11am May 6, 2013 8:11am
Quoting kodex750
GO Privacy Recently a small percentage of you may have received unsolicited contact from one of our competitors. We want to ensure you that we are aware of this and are taking immediate action. We ask that you contact us directly if this has occurred. GO Markets will not compromise client personal information and we value your privacy. By no means has GO approved such unsolicited contact, nor has GO made your private information available to other third party brokers. GO will take appropriate measures to protect its clients both now and in the future....
that would explain all of the fucking hassling calls and emails i've been receiving from some shithead group called synergyfx.

if go will not compromise client personal information.... HOW THE FUCK DID THEY GET MY DETAILS?
Congratulations ScalaFX for coming out of the closet!
  • #4,708
  • May 6, 2013 2:35pm May 6, 2013 2:35pm
Quoting nubcake
{quote} that would explain all of the fucking hassling calls and emails i've been receiving from some shithead group called synergyfx. if go will not compromise client personal information.... HOW THE FUCK DID THEY GET MY DETAILS?
I can confirm, Synergy is indeed spamming with emails. To Synergy: I would not really trade with a company with such practices. Ask them to explain how they got your info, no response of course. I can only think of Go/Vantage/Synergy are all the same or sharing info. Perhaps a new thread about Synergy spamming, just to warn people.
  • #4,709
  • May 6, 2013 10:43pm May 6, 2013 10:43pm
Hi,

Just to let you guys know who aren't already aware GO Markets is not affiliated with any other broker and has certainly not passed on any client details to any 3rd parties. GO Markets was based in Sydney and has within the last few weeks come back down to Melbourne. We are conducting a full and thorough review to ensure that no other brokers since we have moved back are sending unsolicited emails to our clients and we sincerely hope that these clients who have been sent this mail have potentially registered for a demo or futher information directly to this other broker or their details are available on approved lists.
We have contacted our lawyers who are taking immediate action and investigating this further.

On another note we would like to discuss the BTN lightning issue. We have not made any public statements as to be honest it is still in the hands of our legal team but in short this situation has only affected a small portion of our clients but nevertheless is still remains highly important to get this resolved.

GO Markets are an 100% STP forex provider which means that all trades are passed onto a liquidity provider so that we can remain market-neutral. Recently it was brought to our attention from our liquidity provider that a small portion of our client base were using a signal service called BTN lightning to place trades through the GO Markets server infrastructure, in an effort to take advantage of currency movements during releases of economic data.

As the majority of our clients are aware GO Markets supports all legitimate trading methods, signal services and expert advisors. The case with BTN lightning however is something out of the ordinary.

We were notified by our liquidity providers that an ongoing investigation had been taking place regarding trades carried out by BTN lightning, and the result was that our provider instigated a reversal of trades carried out by this signal service.

We are currently undergoing a full investigation and as clients can appreciate takes some time to complete but the findings so far are as follows.

It is believed, BTN Lightning carries out manufactured arbitrage by flooding the server with a large amount of small trades. These trades are designed to slow the server, in turn, artificially creating an opportunity to trade at a ‘stale’ price. This incorrect price is passed directly to the liquidity provider in which they cannot replicate in the market.
This practice, at face value resembles a DDOS attack on our IT infrastructure which contravenes our terms and conditions and can potentially mean a denial of trading service for some or all of our clients, which in itself is potentially illegal. In addition our legal team are also of the opinion that this trading may also contravene the corporations act here in Australia


We are now in discussions with our legal representation regarding the potential illegal activity on our servers and our liquidity partners. It is imperative we treat this seriously and will make every effort to keep our clients informed of developments where possible.



Here at GO we have been speaking to our clients who have been affected on a case by case basis and will keep everyone up to date. we would also like to mention that it is our belief that the majority of clients who used BTN were not aware of how it worked.





Thanks
  • #4,710
  • May 6, 2013 11:29pm May 6, 2013 11:29pm
I don't think anyone had heard of these synergy fucks until they started their bullshit. I'd never heard of the name before recently. I'm not one to give out a certain email address or personal phone number... to anyone... except to a few (considered) legit businesses. Go used to be considered as one of them to ensure I would receive information in a timely manner. I certainly do not give ANY true information, at all, towards demo accounts of any forex groups. EVER! The only forex company that had my email and phone were GoM... UNTIL NOW.

Horseshit response is just more typical horseshit. The only leak here is from Go. Approved lists? Nobody approved to be spammed by other brokers.

You guys fucked-up and sold, gave away, or didn't shred, client details, or this 'approved lists' bullshit has been abused and you didn't take enough care with client data when passing it to whoever you give it to. It is from Gom's end that this has happened. I put you behind me many months ago, and yet here I am getting spammed from these synergy retards because of you and your infinite ongoing retardation.

Fix it then fuck off. Had enough of the bullshit from you guys.
Congratulations ScalaFX for coming out of the closet!
  • #4,711
  • May 6, 2013 11:37pm May 6, 2013 11:37pm
Quoting GO Markets
Hi, Just to let you guys know who aren't already aware GO Markets is not affiliated with any other broker and has certainly not passed on any client details to any 3rd parties. GO Markets was based in Sydney and has within the last few weeks come back down to Melbourne. We are conducting a full and thorough review to ensure that no other brokers since we have moved back are sending unsolicited emails to our clients and we sincerely hope that these clients who have been sent this mail have potentially registered for a demo or futher information directly...
1st of all,your action comes too late too little! i think alot of accts HAD ALREADY lost faith in u guys and had closed their accts respectively! your action just seem v.unprofessional! a typical moves of scam broker or a 'belly-up going soon' broker? whats more,just keeping quiet will NOT solve any issues!
  • #4,712
  • May 7, 2013 7:29pm May 7, 2013 7:29pm
Quoting GO Markets
...It is believed, BTN Lightning carries out manufactured arbitrage by flooding the server with a large amount of small trades.
How is "small trades" defined? I think LPs don't really like orders smaller than 1mln units?

Quoting GO Markets
These trades are designed to slow the server, in turn, artificially creating an opportunity to trade at a ‘stale’ price. This incorrect price is passed directly to the liquidity provider in which they cannot replicate in the market.
So how are these trades executed anyway? Are you saying the trades are executed "in-house" and not on the "real" market?

I'm just curious really. To be honest, I've never heard of BTN before I read people having troubles with GO. I do believe BTN is nothing more than a DDOS attack on your server, but that still doesn't explain how this is only discovered after months (based on from what I've read here, as months-old trades are cancelled?).
  • #4,713
  • May 8, 2013 5:45am May 8, 2013 5:45am
Hi,
I've had phone calls/emails from Vantage
I certainly did not contact them prior either. The man I spoke to had an English accent. He said he used to work for Go

Due to the "uncertainty" I withdrew all my money from my account - no problems (done within three days)

I left my account open, to see what happens............
  • #4,714
  • May 8, 2013 6:49am May 8, 2013 6:49am
Quoting lizpet
Hi, I've had phone calls/emails from Vantage I certainly did not contact them prior either.
Vantage and Go had the same parent company and address up until a few months ago. This may have changed going be what the Rep said above.

I don't think it is worth going with either now as both have similar bad reviews at FPA because of same issues.
  • #4,715
  • May 9, 2013 3:08am May 9, 2013 3:08am
What the Go rep has just described is HFT, and it's rampant for the insto's, banks etc. Some say banks try to prevent it, I say they use it.

Funny, I was just reading this and thought of the Go situation on a small scale:

Quote
The next time the banks need money they’re not going to get it. What they’re
going to do is allow them to take the money from the depositors. Now
this—Cyprus—wasn’t the first. The first was actually MF Global. The law is that
your money deposited at a brokerage house is supposed to be segregated from the
house. If the house loses money, your money is not supposed to legally be
taken, under CFTC regs, to satisfy the creditors of the brokerage house. What
happened to that? They just stole everybody’s money…...

Not saying this is related to what happened, it makes you wonder.
My comments are not to be taken as trading advice, not a financial advisor
  • #4,716
  • May 12, 2013 11:09am May 12, 2013 11:09am
Quoting ybfjax
{quote} Could you copy that email/pdf settlement that you received? You can block out sensitive information. Why in the world would they want you to continue trading with them if they went through all that trouble of adjusting your account because you had previously used inappropriate trading methods?
I'm not permitted to copy/paste the exact wording, and have since received a better offer (about 50% of erased profits) that doesn't require me to trade lots with GO Markets.

That said, and this is very important to keep in mind, GO Markets has in no way actually proven any kind of impropriety or mispricing, even now about two months after the fact, and has not provided any evidence whatsoever in support of their allegations, which is precisely why I am refusing even this new offer until such time that they do. They can go on about DDoS and latency arbitrage nonsense all day to cover for this criminal cancellation of profits; in the end it means nothing if they can't supply proof. You don't just get to make an excuse and confiscate probable millions in aggregated profits without first substantiating your claim at a bare minimum, especially when you're a regulated financial entity.

As before, in light of what has gone on thus far, and the mystical ability of their 'liquidity providers' (which they claim to be following the suit of) to somehow reverse trades months after settlement, I feel that what really occurred is that they, or a related entity with an ownership interest in GO Markets, acted as counterparty to my trades, and the trades of others who had their profits reversed; this was the true 'liquidity provider' involved (they have notably refused to reveal the identity of the reversing providers). Said counterparty naturally ended up losing, and rather than accepting those losses, it employed the powers of the executing broker (which they own) to reverse those trades in order to nullify them.
Offering $1.50 (21%)/RTL Commission Discounts at IC Markets & Global Prime
  • #4,717
  • May 13, 2013 9:01am May 13, 2013 9:01am
Quoting Layzars
{quote} I'm not permitted to copy/paste the exact wording, and have since received a better offer (about 50% of erased profits) that doesn't require me to trade lots with GO Markets. That said, and this is very important to keep in mind, GO Markets has in no way actually proven any kind of impropriety or mispricing, even now about two months after the fact, and has not provided any evidence whatsoever in support of their allegations, which is precisely why I am refusing even this new offer until such time that they do. They can go on about...
Hi layzars,

How did you get up to this point? I understand that I have to wait 45 days before making a formal complaint with the FOS so I am just wondering if you have done so already to get them to at least give you back part of your profits. They too have not provided me with any evidence of their report. They also took more profits than I made and when I asked them why they did they chose to ignore this every time I asked them.

Thanks. Any information would be greatly appreciated.
  • #4,718
  • May 16, 2013 4:41am May 16, 2013 4:41am
If anyone who has suffered a loss from the actions taken by Go Markets to reverse profitable trades without providing any evidence to support their actions is interested in exploring the possibility of starting a class action law suit against Go Markets, would you please PM me.
  • #4,719
  • May 27, 2013 1:02pm May 27, 2013 1:02pm
To Beloved Go Market:
Why Go market suddenly disconnect with server while big moving?While market open it must 24 hour make sure your platform can works.Well,While Go market disconnect from server or appear off quotes but PFGFX,VANTAGEFX,IBFX<MIG BANK broker is still works,this is 3rd time happening on this year in your company platform.If you really want to build up your forex company,please make sure your platform can works always and please do not always disconnect server.It will make new/exist client distrust for your company.
  • #4,720
  • May 28, 2013 8:06am May 28, 2013 8:06am
  •  onu
  • | Joined Feb 2006 | Status: superior senior member | 746 Posts
Quoting Layzars
{quote} I'm not permitted to copy/paste the exact wording, and have since received a better offer (about 50% of erased profits) that doesn't require me to trade lots with GO Markets. That said, and this is very important to keep in mind, GO Markets has in no way actually proven any kind of impropriety or mispricing, even now about two months after the fact, and has not provided any evidence whatsoever in support of their allegations, which is precisely why I am refusing even this new offer until such time that they do. They can go on about DDoS...

Any update on this hoax??
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