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  • #3,481
  • Oct 31, 2011 1:22am Oct 31, 2011 1:22am
Chris,

Will execution times go back to normal with new LP's ?

I still can't work out why some accounts are up to 4 times slower than others.
  • #3,482
  • Oct 31, 2011 1:47am Oct 31, 2011 1:47am
Quoting GoMarkets
Hi Guys,

Obviously you have all missed me over this past week - I apologise for not being on here sooner, but it has been a very busy week.

Not only have we spent a lot of time working on setting up our new liquidity provider relationships, but to add to the mix we moved office over the weekend and dealing with companies like Telstra always make it fun.

Anyway, first of all, let me give you a status update - the final stage of testing the new LP should occur over the next day or so, and I am hopeful that it will be in place by the end...
Thanks for stepping up---no other broker will do this--- to my knowledge
Hopefully the spread issue can be fixed.
We are all One. Be present. Be the Observer
  • #3,483
  • Oct 31, 2011 1:52am Oct 31, 2011 1:52am
Quoting DareXau
G'day Chris, thanks for the update, but... is this bringing us any closer to ECN solution?
... because as for now (result of couple of months of problems & issues) only naive and inexperience traders may still use GoMarkets
Best Regards,

So why do you still use GoM? Why not move your trading to an already existing ecn.
  • #3,484
  • Oct 31, 2011 2:08am Oct 31, 2011 2:08am
Quoting henryfx9
Chris,

Will execution times go back to normal with new LP's ?
I suppose that depends on your meaning of 'normal'... Through the new LP all trades will be executed by the banks contributing so it depends on the available liquidity. If there is only 500 lots available and people place orders for 750, then it will take some time to execute the orders, but of course that is how it should be when trading on an exchange or through a proper STP system. I am not going to sit here and say how long trades will take because it will be totally dependent on the available volume and liquidity.
  • #3,485
  • Oct 31, 2011 2:11am Oct 31, 2011 2:11am
Quoting DareXau
G'day Chris, thanks for the update, but... is this bringing us any closer to ECN solution?
This is going to bring about a change to a better STP provider for us and for you, but is not the ECN.

The ECN option will be coming very soon after the change to our LP and we are going through all the setup now.

Thanks,
Chris
  • #3,486
  • Oct 31, 2011 2:19am Oct 31, 2011 2:19am
Thanks Chris, I'm glad to hear about it from you.
  • #3,487
  • Oct 31, 2011 3:39am Oct 31, 2011 3:39am
Quoting GoMarkets
Hi Guys,

Obviously you have all missed me over this past week - I apologise for not being on here sooner, but it has been a very busy week.

Not only have we spent a lot of time working on setting up our new liquidity provider relationships, but to add to the mix we moved office over the weekend and dealing with companies like Telstra always make it fun.

Anyway, first of all, let me give you a status update - the final stage of testing the new LP should occur over the next day or so, and I am hopeful that it will be in place by the end...
Moving offices, testing the new LPs, etc etc etc... All that does not change anything to me. All these processes are supposed to be planned sufficiently in advance to let us know that we were going to experiment larger spreads temporarily, giving us the chance to temporarily use other providers for our own benefit. An email, MT4 communication or any announcement on this thread would have been the proper way to proceed. Instead, we have been wondering what was going on, ranting about the cost we have to pay in excess for our trading activities, etc etc. Why don't you pay back and refund clients's account with the spread in excess you earned, to show good faith and not suspicious ways of treating clients? This should be the proper attitude for a serious forex provider.

No, to me this is still an unacceptable way to make business. And since in businesses it all comes to a bilateral relationship, one have to decide for his own good if the service providers are delivering both qualitatively and quantitatively what they are supposed to. At the end of the day, it's a matter of how serious a trader is to his trading business.
  • #3,488
  • Oct 31, 2011 3:52am Oct 31, 2011 3:52am
Quoting GoMarkets
Hi Guys,

Obviously you have all missed me over this past week - I apologise for not being on here sooner, but it has been a very busy week.

Not only have we spent a lot of time working on setting up our new liquidity provider relationships, but to add to the mix we moved office over the weekend and dealing with companies like Telstra always make it fun.

Anyway, first of all, let me give you a status update - the final stage of testing the new LP should occur over the next day or so, and I am hopeful that it will be in place by the end of the...


Hi Chris,

What about the 2 pip limitation on stops? Is is going away as the new LP joins GoMarkets? Thanks.
  • #3,489
  • Oct 31, 2011 4:31am Oct 31, 2011 4:31am
Quoting elizo
Moving offices, testing the new LPs, etc etc etc... All that does not change anything to me. All these processes are supposed to be planned sufficiently in advance to let us know that we were going to experiment larger spreads temporarily, giving us the chance to temporarily use other providers for our own benefit. An email, MT4 communication or any announcement on this thread would have been the proper way to proceed. Instead, we have been wondering what was going on, ranting about the cost we have to pay in excess for our trading activities, etc...
I agree with you.
I don't know why GO always behaves such an amateur...
  • #3,490
  • Oct 31, 2011 5:25am Oct 31, 2011 5:25am
Thanks for stopping by Chris, but I do agree with some of the comments here about the notice that could have been given, but I give you the benefit of the doubt that some issues have been unexpected.

In reality you should have been able to move etc without anything showing at our end. I was a bit dismayed last week to try the live chat and find no response.

I think you will also find some of your aussie competetitors have been quite actively hunting for more business, and while we all suffer a bit of inertia, when we get irritated it makes us more responsive.
  • #3,491
  • Oct 31, 2011 5:56am Oct 31, 2011 5:56am
Quoting elizo
Moving offices, testing the new LPs, etc etc etc... All that does not change anything to me. All these processes are supposed to be planned sufficiently in advance to let us know that we were going to experiment larger spreads temporarily, giving us the chance to temporarily use other providers for our own benefit. An email, MT4 communication or any announcement on this thread would have been the proper way to proceed. Instead, we have been wondering what was going on, ranting about the cost we have to pay in excess for our trading activities, etc...

So what brokers get your "thumbs up'? Have you heard of any broker that has not had any issues that get customers upset? There's got to be a reason you're sticking with GoM.
  • #3,492
  • Oct 31, 2011 10:23pm Oct 31, 2011 10:23pm
Hi,

GOM spread is the highest at this time today.

Any ideas? They said problem would be fixed today.
No one wants to be defeated~
  • #3,493
  • Oct 31, 2011 10:52pm Oct 31, 2011 10:52pm
Quoting jonirrenicus
Hi,

GOM spread is the highest at this time today.

Any ideas? They said problem would be fixed today.
Quoting GoMarkets
Hi Guys,

Anyway, first of all, let me give you a status update - the final stage of testing the new LP should occur over the next day or so, and I am hopeful that it will be in place by the end of the week. In fact, it could be as early as tomorrow,

Cheers,
Chris
They said it could be fixed today, or by the end of the week.
  • #3,494
  • Oct 31, 2011 11:02pm Oct 31, 2011 11:02pm
WTF man slow execution!! and the spreads is bloddy BS can not scalp at all lost on a wining scalpe trade

Quoting Blackrose
They said it could be fixed today, or by the end of the week.
  • #3,495
  • Edited 3:06am Nov 1, 2011 2:54am | Edited 3:06am
Quoting elizo
Moving offices, testing the new LPs, etc etc etc... All that does not change anything to me. All these processes are supposed to be planned sufficiently in advance to let us know that we were going to experiment larger spreads temporarily, giving us the chance to temporarily use other providers for our own benefit. An email, MT4 communication or any announcement on this thread would have been the proper way to proceed. Instead, we have been wondering what was going on, ranting about the cost we have to pay in excess for our trading activities, etc...
Wow, go markets have gone out of their way to come onto this forum and explain the issues and you are still moaning.

Chris has definitely gone above and beyond so cut the guy some slack.

It's not just gomarkets who are effected by high spread so that proves that they are definitely not "cheating" us.

Seriously, we are all annoyed at the high spreads but go ARE doing something about it and have given us an estimate at when the work is being complete, if they are moving office aswell then you gotta show some patience, they are only human.

One thing I will stress though is that the 2 pip stop limitation has to go, that really is intefering with peoples trading. Go need to find a way to resolve this, hopefully they can work something out with their new LP.

Obviously if after they fix all the issues spreads don't improve then it's time to leave but we should definitely not leave yet, it's in our interest as clients to ensure that gomarkets make as much money as possible, so that they can pass on a more competitive service to us as they seem to have done so far. Leaving in droves will only hurt their profit margins, meaning they have to tighten their belts on service, don't make that happen.
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  • #3,496
  • Nov 1, 2011 3:18am Nov 1, 2011 3:18am
Quoting jeanlouie
So what brokers get your "thumbs up'?
Do your due diligence. You should. It's a good habit if you want to succeed in trading.

Quoting jeanlouie
Have you heard of any broker that has not had any issues that get customers upset?
Lots of them. Again, go back to the first question. Ok, I'll be generous and will name one: if you want a professional, impressive service: Interactive Brokers.


Quoting jeanlouie
There's got to be a reason you're sticking with GoM.
Who said I am sticking with them?

Ok, if you want to try to bring the conversation to the personal area, asking ME about MY ATTITUDE in relation to Go Markets, it's up to you. I don't know if you work for them or receive any kind of rebate for writing here, or if it is just a love story and you fall in love with brokers, willing to get married to them. Personally I don't usually comment how people gets his life since it is not my business, but I hope you don't do the same with your trades (if you trade).

The only issue, without answer here, is why we did not know pretty early in advance we were going to suffer these shamefull spreads. No, I have never ever had a broker that widens spreads as Go Markets has done if it wasn't for a true, one-off reason and do his best to unwind all the inconveniences and economical costs. That's true apologise. The one that goes to your account. The other is free: a post in a thread. I personally sent an email to them, it took more than 24 hours to answer and to my subsequent request of being paid back the spread in excess have not received any reply so far. This is by no means fair. That's an objective fact. All the things you asked me are subjective ones, and I think are pointless to the readers of this thread, whose spreads are right now around 3 pips in EURUSD. Again, objective (and awful) fact.
  • #3,497
  • Nov 1, 2011 3:20am Nov 1, 2011 3:20am
Quoting claypot
WTF man slow execution!! and the spreads is bloddy BS can not scalp at all lost on a wining scalpe trade

The spread is huge on GoM during last weeks. They have some problems, we should be patient.

Josef
  • #3,498
  • Edited 5:40am Nov 1, 2011 3:42am | Edited 5:40am
Quoting leerees
Wow, go markets have gone out of their way to come onto this forum and explain the issues and you are still moaning.
No worries, it won't last. I'm done with them. Apologies for showing my way of thinking. Looks like we all have to think like you or you'll be kind of uncomfortable, doesn't it?

Quoting leerees
It's not just gomarkets who are effected by high spread so that proves that they are definitely not "cheating" us.
So as more brokers are shitty and are widening spreads, that means that GoMarkets have reduced their "shitty" rating? That's a pretty demagogic way of thinking, but hey... it's your money and you. Why don't you think the opposite, that many brokers are still showing decent spreads?

Quoting leerees
if they are moving office aswell then you gotta show some patience, they are only human.
"I GOTTA SHOW SOME PATIENCE"??? Is it written in any legal body, customer agreement, Constitution of any country? "I GOTTA"???? No man, I don't have that obligation at all. And since "they are only human", I would recommend them to widen the spread to 7 pips. At the end of the day, they are only human. Hilarious reasoning, dude. All right, let's call mankind, humanity. Since you are human, Go Markets, share your profits! Pay us back the spread! Hey, wait a minute... Ah, you are here for PROFIT, not because "you are only human", right? Ok, got it.

Again, it's up to you. If you are happy, nice. Good for you. But you know what? I don't usually like to give money for free to my providers, notwithstanding the fact that I don't like to make business in an unbalanced, unfair, non-symmetrical fashion. I am just saying what I think is a proper way to behave. But you guys seem to be unconfortable with someone expressing his own points of view and start to divert the conversation to a subjective area (moaning, "you gotta", "you're sticking", etc). Pretty suspicious, bearing in mind the precedents.
  • #3,499
  • Nov 1, 2011 3:43am Nov 1, 2011 3:43am
I'm a new customer to GOM.

Their pre-sale service is quite good, but no one receive an early warning E-mail before spreads widden.

JUST answer my question Why not send emails expalin everything before things happened?
No one wants to be defeated~
  • #3,500
  • Edited 4:09am Nov 1, 2011 4:05am | Edited 4:09am
Quoting elizo
Do your due diligence. You should. It's a good habit if you want to succeed in trading. ...

OK so I spent about 15min looking up Interactive Brokers, I first came across them over a year ago when I was looking for a broker to go with, and ended up with a spreadsheet of 120 brokers I compared. Anyway I found pages of complaints on different forums, sure there were also many more compliments, but even they weren't free of issues, and that was my point, there aren't any brokers (at least that I'm aware of) that are issue free.

I know you didn't say you were sticking with GoM, and I'll gladly admit that I assumed that, since you were pointing out the bad issues that are happening and showing your discontent but not going an inch further to say your leaving or stopping use of GoM, so I assumed you were sticking around and wondered why.

I had no intention of getting into some argument, least of all that would lead you to claim I'm bringing the convo to the personal area. This is forum where people communicate about a certain topic, this case, about GoM.

And yep I agree with your discontent and irritation about the current spread issue. But hand in hand with that GoM like any other broker that claims stp status is merely a bridge from the trader to the liquidity pool and makes no promise about keeping spreads inside a range, only present to be used. Not everything is in their control and if I were them I wouldn't payout any $ only an explanation and apology for not making a notice earlier.
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