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  • #761
  • Jul 25, 2010 10:00pm Jul 25, 2010 10:00pm
This spike has already been removed and no one had been affected.
We have contacted the institution providing that feed , they did admit some minor tech issues last week that caused a couple of spikes and it seems that most pairs have settled down now but we will contact them about this spike aswell as this pair may have gone unnoticed for them.
But as mentioned all FX providers have spikes but as mentioned it has been removed and of course if anyone traded this pair then no one will be negatively affected.

Cheers
  • #762
  • Jul 25, 2010 10:17pm Jul 25, 2010 10:17pm
Quoting moksha
Go Markets
I am sure you have good intentions
However if you could copy past the exact words form you PDS about Client money safety that would help
Sonray also had "Segregated accounts" but It is nothing like FSA in UK
Please be specific
Moksha,

Feel free to view our PDS online at our website, its pretty clearly marked so you shouldnt find a problem looking for the relevant section.
I would like to know what your thoughts are about FSA client money rules and ASIC client money rules.
I was of the understanding that they are very similar and if you read some of the UK providers terms of business this will elaborate the point. I'm sure though you are correct and there are some differences but would be interested to know what they are as we may be able to voluntarily adopt those rules on top of what we already do.

Cheers
  • #763
  • Jul 25, 2010 10:31pm Jul 25, 2010 10:31pm
Quoting erikte279
Here is another data spike. Go Markets, WHEN will we be finished seeing these spikes?????
lol anyone profited of these dataspikes?
  • #764
  • Edited 10:45pm Jul 25, 2010 10:44pm | Edited 10:45pm
Hi,

To be honest only a handful of clients were trading the NZD/USD pair but as mentioned to maintain a level playing field the spikes were removed but if they hadnt have been then all the clients would have lost money.

Cheers
  • #765
  • Jul 25, 2010 11:08pm Jul 25, 2010 11:08pm
Quoting GoMarkets
We are adding a North America data centre within days to assist trading from that region.
We do have plans to expand with overseas offices very shortly, subject to regulatory approval as it will have to be in countries with strong regulatory framework but exact locations are being finalised and again to stress the point this is subject to regulatory approval

Cheers
Hi, thanks for answering all the questions. When you say expanding overseas shortly does this mean this year?
  • #766
  • Jul 25, 2010 11:36pm Jul 25, 2010 11:36pm
Hi,

I will say that yes subject to regulatory approval we would like to have an overseas branch this year.
We will of course keep every client updated.

Cheers
  • #767
  • Jul 26, 2010 12:11am Jul 26, 2010 12:11am
Chris

If I want like to open a live account (in USD currency) for 1 pip = USD1.00, what is your advised for setting the leverage 1:100? 1:200? or?

Kindly advise the procedures to open a live account?

tpat
p.s. My email [email protected] (Malaysia)
  • #768
  • Jul 26, 2010 7:35am Jul 26, 2010 7:35am
Go Markets
To best of my knowledge if a client is dealing with a FSA regulated firm in UK then first 50,000 pounds are protected by http://www.fscs.org.uk/
Where as with ASIC ...there is no such thing.. no such insurance when one is dealing with CFD / FX providers!
Unless one deals with a ASX market participant and hold stock under HIN one is xxxxxed

So at the end of the day no matter what you say and do and have good intentions in Australia the watchdog does not force you (CFD/FX provider) to have such a insurance.. good for you bad for the punter.

having segregated accounts does not protect us in case of default/ fraud at your end ... as simple as that
  • #769
  • Jul 26, 2010 7:45am Jul 26, 2010 7:45am
Go markets

This scared the xxx out of me .. sonray revisited!

Page 34 of your FX PDS

4.10 Holding your money in one or more client trust accounts may not afford you
absolute protection. The purpose of a client trust account is to segregate our clients’ money, including your money, from our own funds. If the amount held in a trust account for you does not satisfy or fully satisfy moneys we owe to you and we become insolvent, you will be an unsecured creditor in relation to the balance of the moneys owing to you.
4.11 Your funds will be kept together with the funds of other clients in our client trust account. Your funds kept in our client trust accounts can be used to meet the payment obligations of our other clients. This means that you may also potentially suffer a loss as a result of default by another client where money from the client trust account is applied to meet the payment obligations of that client and there is a deficiency in the client trust account. In the event of our insolvency, your entitlements as a creditor will rank equally with all other clients and you may not
  • #770
  • Jul 26, 2010 7:52am Jul 26, 2010 7:52am
Chris

Are these boxes spikes on 20 July and 26 July?
Both are seen in H1 but not M15 !
Any reason?

Last week it was reported spikes below
http://www.forexfactory.com/showpost...&postcount=722

What is going on?

tpat
Attached Image(s) (click to enlarge)
Click to Enlarge Name: n-u h1.gif Size: 35 KB
Click to Enlarge Name: n-u m15.gif Size: 31 KB
  • #771
  • Jul 26, 2010 5:34pm Jul 26, 2010 5:34pm
Those spikes you have attached have been addressed in an earlier post. They have been fixed up and removed form the server and any trades have been sorted. Sometimes when spikes are removed they take a while to filter through to everyone's platform, but rest assured these prices were not genuine and everyone with a trade caught out has been sorted.
  • #772
  • Edited 9:06pm Jul 26, 2010 8:24pm | Edited 9:06pm
Quoting moksha
Go Markets
To best of my knowledge if a client is dealing with a FSA regulated firm in UK then first 50,000 pounds are protected by http://www.fscs.org.uk/
Where as with ASIC ...there is no such thing.. no such insurance when one is dealing with CFD / FX providers!
Unless one deals with a ASX market participant and hold stock under HIN one is xxxxxed

So at the end of the day no matter what you say and do and have good intentions in Australia the watchdog does not force you (CFD/FX provider) to have such a insurance.. good for you bad...
Hi,

I can quite understand all clients concerns in ensuring that funds are safe and protected.
Obviously dealing with are regulated firm does give more protection but different regulators have different rules.
ASIC rules seem similar to the FSA but having worked for an FSA regulated firm i'm aware of the existence of the compensation scheme and would welcome this here in Australia.
GO Markets does encourage new security for clients and already chooses to go the extra mile with regard to client funds i.e we choose to not send any client funds to any liquidity providers and keep it safe in a client trust account so we can overcome any potential counterparty risk.
GO Markets also has more than adequate PI insurance to claim against any fraudulent activities with client funds, This amount is at present 2million per claim which i'm sure you will agree is more than adequate for most private clients and more than the maximum of 50k compensation with the FSA.
GO Markets also ensures client funds are held at a AA rated bank the National Australia Bank for added security.

The sections in the PDS refering to client funds are pretty much standard text that the majority of FX and CFD and derivatives providers here in Oz will have in their PDS doscuments as it relates clearly to the corporations act 2001 client money handling rules

I know there is no perfect regulation but GO really is doing the most it can plus a few extra decisions to make GO's clients feel as comfortable as possible dealing with us and I'm sure you will agree its better to deal with a regulated firm than a non regulated one.

Cheers
  • #773
  • Edited 9:04pm Jul 26, 2010 9:04pm | Edited 9:04pm
Quoting tradpat
Chris

If I want like to open a live account (in USD currency) for 1 pip = USD1.00, what is your advised for setting the leverage 1:100? 1:200? or?

Kindly advise the procedures to open a live account?

tpat
p.s. My email [email protected] (Malaysia)
Tradpat,

Thanks for your message,
Every clients attitude to risk is different so it would be unethical of us to advise on what leverage for you to have on your account plus our company does not give personal advice so we would be dealing out of the scope of our licence here in Australia
You need to work out what exposure you are prepared to have per position.
I have passed your email address onto our customer service reps to guide you on how to open an account.

Cheers
  • #774
  • Jul 30, 2010 11:20pm Jul 30, 2010 11:20pm
Hi

Can someone pls. confirm GoM's setting for the day at "GMT+2" is whether constant throughout the year?
Any change to it with the "day time saving?"
In our country we do not have "day time saving."

tpat
  • #775
  • Jul 31, 2010 1:03am Jul 31, 2010 1:03am
Quoting tradpat
Hi

Can someone pls. confirm GoM's setting for the day at "GMT+2" is whether constant throughout the year?
Any change to it with the "day time saving?"
In our country we do not have "day time saving."

tpat
tpat,
My Qlock (desktop multi timezone clock) says the server you are referring to (which is indeed in GMT+2) does use DST. The application says it goes on DST on the last Sunday in March and comes off on the last Saturday in October.

I believe that is correct information. However if you want confirmation, the best website for that is

http://www.worldtimeserver.com/

Hope that helps you.
Rich
  • #776
  • Jul 31, 2010 3:37am Jul 31, 2010 3:37am
Quoting Abinadi
tpat,
My Qlock (desktop multi timezone clock) says the server you are referring to (which is indeed in GMT+2) does use DST. The application says it goes on DST on the last Sunday in March and comes off on the last Saturday in October.

I believe that is correct information. However if you want confirmation, the best website for that is

http://www.worldtimeserver.com/

Hope that helps you.
Rich
How does Qlock tell whether a secondary application is changing to DST in the future.

I am under the impression that GoMarkets servers are GMT+2 with no DST.

This means that during Northern Hemisphere's summer the GoMarkets MT4 server's time is only 1 hour ahead of London, and during Northern Hemisphere's winter they are 2 hours ahead of London.

I remember verbally asking a question to GoMarkets about this, and the person replied we are GMT+2 and not London time +2.

This says to me that GoMarkets servers are not in a country that has DST for Northern or Southern Hemisphere. Not totally sure, but I think that this is the case.
  • #777
  • Jul 31, 2010 3:56am Jul 31, 2010 3:56am
Hi Rich, Thanks for the link. Something good to pick up for knowledge.

Hi Aquaart, Thanks for your input. Since you are Australian (got it from your profile), so you maybe right. Hope Chris will comment soon.

tpat
  • #778
  • Aug 1, 2010 6:57pm Aug 1, 2010 6:57pm
Quoting aquaart
I am under the impression that GoMarkets servers are GMT+2 with no DST.
You are correct.

For your information, this is a defualt setting from Meta, but it is something we are reviewing. Any changes made to this will of course need plenty of notice so we will keep all informed.
  • #779
  • Aug 1, 2010 7:46pm Aug 1, 2010 7:46pm
Quoting GoMarkets
You are correct.

For your information, this is a defualt setting from Meta, but it is something we are reviewing. Any changes made to this will of course need plenty of notice so we will keep all informed.

Go, may I suggest you stay connected to GST. That way I don’t have to worry about DST anywhere else in the world. I know when DST is in Australia, so I compensate for it. I don’t have to worry when DST is in London or any other part of the world.

  • #780
  • Aug 2, 2010 2:04am Aug 2, 2010 2:04am
The platform time is something that has been a larger talking point than normal of late with one side wanting to open earlier and one side wanting to stay as it is to ensure charts do not have an additional day.

We are talking to many clients and in house about this to make sure we get something which appeals to the majority, but of course there will always be some people that are in favour of one over the other.

We will of course give plenty of notice about any changes that happen, if of course they do happen!
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