GoMarkets Discussion

Just found out that they charge 3% for a US$ withdrawal which I think is quite excessive.

I'd hoped to start a poll for this but as I've just signed up and am a 'Junior Member', so I can't even start a thread, stoopid... anyways
Well I fired up MT4 before going to bed last night and found out about 50% of my account balance had vanished.
No large losses in trade history to explain it, just gone.
I called the office at 8am this morning and got a kind receptionist who asked me to send an email.
After hearing nothing back by 1pm today I called again and was told that there's many people with the same problem.
I've been using GO since they started and have never had a problem with them, even when I remember a lot of people complaining about trading glitches.

Has anyone else had some of their funds disappear?
If yes, what percentage has gone missing?

I can handle trading glitches, but when account balances start suddenly changing this will likely have me jumping ship unless I get some quality answers.
Luckily I don't have too much in this account atm and it's not affected my trading on the account, though I pity anyone who's incurred losses...

I've got a background in IT/networks, so I've asked them for a detailed technical explanation of what's gone wrong, how they're going to fix it and how it will be prevented in the future...
I guess we'll see what tomorrow brings...

Hi drayzen

I am a trader from singapore.
Go markets have stolen 300 aud from my account too.
I just happened to see my last week history and found
2 closed trades that were actually profits but they changed
them into huge loss making trades.

I have sent them an email but so far no response..

Its best not to trade with Go Markets right now until they resolve this serious issue and can explain
what has happened, or can fix this

My account changed as well,but Im not hurt because I use small lots and did not invest heavily
If Go Markets can correct this it would be great but Ill remember the trading time lost

Im posting two charts to show what I see and one is different broker but demo account
I will stop pointing my finger at GM until issue is resolved with server problem

i can see fr your chart that this broker[GoMarket] is really up to NO good,totally different chart fr a Live and Demo charts!!! Is that supposed to be the way? Ans is NO! The different is actually,NO Real Monies is involved,for most brokers's Live and Demo accts,but their Live and Demo accts WILL showed the SAME prices @ e SAME time!!!

IM not blaming GM,but I was allowed to trade while they had server problems,this is bigger issue for me

Got really angry at first and called them POS, but this looks like serious problem and I have different charts
so Im not sure what to believe right now

Well after still no communication from them I called the office again today.
I was told that the issues relate to their server change that happened sometime in the last 2 weeks.
Apparently they are having to manually review each account, trade-by-trade, to get each one correct...

I'm starting to think that somethings happened there recently that's caused this company to loose it's way.
In the past they have notified customers when they're going to be doing network maintenance etc, as any reputable internet based business should.
This time there was nothing, nothing in MT4, no emails, pathetic really.
I'm sure some traders might choose to not trade for a period if they know this type of change is going on.

I'll wait to see what they come back with, but every day there's no communication the closer I get to jumping ship.
Rest assured if they can't give me a reasonable reason for this, or they try to feed me rubbish, I'll be back here letting everyone know.

It would have been smart of them to send out an email each night to all affected customers letting them know what's happening and how it's progressing.
Just leaving everyone in the dark is really poor form. :/

I could easily post another chart where a M5 supply did not show up on GM feed and this happened today

Call me insane but trading time is being wasted,who is the dick right now

No use crying over spilt milk I can take a loss

Rampage,

Both my FXOpen and Pepper charts look near identical, and not at all like the GM ones you showed.

When will you guys learn?

Fair call Cogs,but I took pics of what I see

I also posted it

So you should, we all have to try and keep them honest somehow.

Those charts were live charts

could post another chart if I felt like whinging

You know what the solution is to everyones problems on this thread? CHANGE BROKER

These guys have been average to poor for a long time now. there are much better Australian options

Hmm... I withdrew my money from GM a few days ago. Now I get this email from them:








Important Client Message

GO Free

Over the past 7 years GO has been dedicated to providing you with superior service and we are pleased to continue to do so from our new head office in Melbourne. After a year in Sydney GO has finally returned home!

We appreciate your loyalty to GO and, as a preferred client, we wish to inform you that we are rolling out system upgrades over the coming weeks; there will be very exciting times ahead for you as a client of GO Markets. Any recent GO server issues you may have experienced have been a result of these upgrades to the system and we apologise for any inconvenience that this may have caused.

In order to demonstrate how much we value you as a client of GO, we are prepared to offer:

10% bonus on all deposits over $1,000 made before 5th May 2013.*
All deposits in May are free! No bank charges and no credit card fees.






GO Service

GO Markets is very much still here for our clients and we continue to pride ourselves with first class customer service and of course very competitive spreads.

GO remains an independent full service broker
GO is a market leader & award winning firm
GO has been voted favourite broker in Australasia
GO is proud of its brand and only markets itself as GO Markets
Please keep an eye out for further exciting updates from us.

>> Open a Live Account
>> Open a Free 30-day Demo Account


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.

I don't trade with these clowns anymore, but still have their charts running. Has anyone else got the ridiculous gap on the German news? 43 pips.

Yeah, I got that email too.
There they are telling me that I can get a bonus when I deposit, while half of my bloody balance is still missing!!!
Now that's just taking the piss...

I'm going to give them a call on Friday and speak to their customer relations manager and let them know that they are failing at their job.
My money will also be coming out as soon as they correct my balance.

I remember when I first signed up with them I was a bit green and thought that STP was meaning the same thing as ECN, I now know better.
I can remember discussion on some forums when they started saying that they weren't an MM broker which is what attracted me to signing up.
With my recent account balance issue I went back and re-read all of their account documents and found the following that clearly shows they are an MM broker.

Account Terms & Conditions

9. CLIENT ACKNOWLEDGEMENTS

g) The Client has been made specifically
aware that in certain markets, GO
Markets may act as a market maker and
when so acting under normal market
circumstances quote the Client bid and
ask prices. GO Markets will only disclose
that it is acting as a market maker in
response to a written request from the
Client to make such disclosure. The
Client accepts that in such markets, GO
Markets may hold positions that are
contrary to the position of Clients
resulting in potential conflicts of
interest;

h) Subject to applicable legal/regulatory
requirements, the Client consents where
GO Markets either knowingly or
unknowingly takes the opposite side to
the Client in relation to any of the
financial product transactions;

i) Subject to applicable legal/regulatory
requirements, the Client agrees and
acknowledges that GO Markets’
directors, employees and associates may
and can deal on their own account;


I've got an FXOpen account I'll move over to and I'm thinking I'll also give AxiTrader Pro a try, unless anyone can suggest a better ASIC regulated ECN option...?