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GoMarkets Discussion

  • #4,481
  • Oct 27, 2012 5:11am Oct 27, 2012 5:11am
one of my brokers is go markets and removing eurchf is not a bad idea. Opening on monday 1000 pips in red is not nice picture. If someone is that keen, put up a large amount of cash and create eurchf position using futures.

I have to say that have no issues with gomarkets at all and I am profitable so bashers take it easy.
  • #4,482
  • Oct 29, 2012 10:24pm Oct 29, 2012 10:24pm
I set up an account for a family member with Go Markets. (10K). I have traded this account also. I trade with Dukascopy and Interactive Brokers. We have copied the exact same trades into Dukas and GO. The Dukas account currenly has a gain of almost 670% the last year. The Go account has a loss 73%. These guys are dodgy and should not be in business.

Time to Place a trade , many times its timed out, or can take 15 seconds.

Am aware they turn the platform off also.

At times when I have traded the Go account I find it extremely difficult to make a consistant profit. Obvious by the loss.

My advice to all traders is to STAY AWAY. Dodgy Go Go. Go somewhere else.

Plus customer service at Go Markets Australia is arrogant at best.

I have 22yrs of live trading experience in all types of financials.
  • #4,483
  • Oct 29, 2012 10:26pm Oct 29, 2012 10:26pm
Quoting pjpipster
I set up an account for a family member with Go Markets. (10K). I myself have traded this account as I trade with Dukascopy and Interactive Brokers. We have copied the exact same trades into Dukas and GO. The Dukas account currenly has a gain of almost 670% the last year. The Go account has a loss 73%.

Time to Place a trade , many times its timed out, or can take 15 seconds.

Am aware they turn the platform off also.

At times when I have traded the Go account I find it extremely difficult to make a consistant profit.

My advice to...
Been with go for 2 years.. never had this problem. Not saying your lieing, but seriously.
  • #4,484
  • Edited Oct 30, 2012 12:25am Oct 29, 2012 11:57pm | Edited Oct 30, 2012 12:25am
Quoting triptizine
Been with go for 2 years.. never had this problem. Not saying your lieing, but seriously.
I am sure many others have experienced these problems, some may just be unaware of it.

Go Markets are dodgy as. Bucket Shop comes to mind. 90% of MT4 brokers are dodgy.
  • #4,485
  • Oct 30, 2012 1:14am Oct 30, 2012 1:14am
Quoting pjpipster
I am sure many others have experienced these problems, some may just be unaware of it.

Go Markets are dodgy as. Bucket Shop comes to mind. 90% of MT4 brokers are dodgy.
So your saying they strategically targeted your account? Tin Foil much?

  • #4,486
  • Oct 30, 2012 1:56am Oct 30, 2012 1:56am
Quoting triptizine
So your saying they strategically targeted your account? Tin Foil much?

No, they target a basket of accounts. They run stops, switch off the platform, increase spreads to hit stops, present false data, false liquidity.

You should view all your trades, entries, slippage, stops and targets.

If you are happy with them stay with them. But I assure you that you are not seeing the real market as you do through an ECN account. Try Dukascopy for a month and you will notice the difference.

Anyway just took 179 pips profit on GY and UY.

End of day I don't care about arguing over Dodgy Go.

I don't post often on forums as I am trading fulltime and don't have time for forums. Most are looking for some Holy Grail, or other traders to hold their hand when they fail, and when the have a good trade, someone pump up their EGO when they succeed.

Losing money in trading is part of the game, but losing to a dodgy broker is thieft .

http://www.forexpeacearmy.com/public...marketsaus.com

Conversation over.

Good luck
  • #4,487
  • Oct 30, 2012 3:25am Oct 30, 2012 3:25am
Quoting pjpipster
No, they target a basket of accounts. They run stops, switch off the platform, increase spreads to hit stops, present false data, false liquidity.

You should view all your trades, entries, slippage, stops and targets.

If you are happy with them stay with them. But I assure you that you are not seeing the real market as you do through an ECN account. Try Dukascopy for a month and you will notice the difference.

Anyway just took 179 pips profit on GY and UY.

End of day I don't care about arguing over Dodgy Go.

I don't post often...
So why are you posting..
  • #4,488
  • Oct 30, 2012 4:04am Oct 30, 2012 4:04am
Quote
So your saying they strategically targeted your account
Ridiculous comment!

They treat all retail traders the same way. Quality of service has dropped considerably.

It apprears pjpipster did a comparitive test which is one of the best to carry out.

Comments on public forums seems to be one of the main ways to get these guys (brokers) to lift their game, if they want to stay in business that is.
My comments are not to be taken as trading advice, not a financial advisor
  • #4,489
  • Oct 30, 2012 4:25am Oct 30, 2012 4:25am
Quoting pjpipster
I set up an account for a family member with Go Markets. (10K). I have traded this account also. I trade with Dukascopy and Interactive Brokers. We have copied the exact same trades into Dukas and GO. The Dukas account currenly has a gain of almost 670% the last year. The Go account has a loss 73%. These guys are dodgy and should not be in business.

Time to Place a trade , many times its timed out, or can take 15 seconds.

Am aware they turn the platform off also.

At times when I have traded the Go account I find it extremely difficult to make...
same trades, +670% vs -73% !! How can that be?
  • #4,490
  • Oct 30, 2012 4:30am Oct 30, 2012 4:30am
Quoting cogs
Ridiculous comment!
He is claiming a 670% to -75% difference.. cmon, I have been with them forever, and the price printed is comparative to other brokers.. I have done the tests..

Hunting stops? Maybe they are too tight. To say that Go change the market conditions away from what every other broker is doing is downright BS. If they did, they wouldnt be in business.

Quoting macroman
same trades, +670% vs -73% !! How can that be?
Exactly.
  • #4,491
  • Oct 30, 2012 6:31am Oct 30, 2012 6:31am
Quoting macroman
same trades, +670% vs -73% !! How can that be?
Not calling BS, but can you please show how you got to thees numbers. Account statements would be good.
  • #4,492
  • Edited 5:24pm Oct 30, 2012 5:14pm | Edited 5:24pm
Quoting macroman
same trades, +670% vs -73% !! How can that be?
I should have been more clear.

The account was setup for a family member as stated. (10k). Joe had been on a demo for 6 months, and at that point Go was an easy option and did not have to bad a reputation at that point. I wanted Joe (14yr old) to use a live account to learn the psychology of trading on a live account. He was making the usual miskakes, position sizing, anxiety, happy when winning , sad, pissed off when a loss was incurred.

.
So, i would go and trade his account back to balance. Placing the same trades on Joe's account as I was on my Duka's and IB account. What i began to realise was on the GO Market account it was becoming more diffucult to make profits than on the other two accounts even though the trades were copies of each other.

Not all the money lost was due to Go Markets scams, many were just bad trades on Joe's behalf, and we accept that. But what we do not accept is the fact with Go Markets, the field is not fare nor even. And that is the reason I judge GO as a scam broker.

And at the end of the day we can also claim the loss as a tax deduction against future profits which is assured now I have closed Joe's account.


This is my opinion and i am sharing it, whether you accept it or not is up to you.


Triptizine, The reason I was even on a forum , was searching for other traders who may have experienced similar problems with GO, and found a Ton. If you find them suitable for your style thats up to you. But i stongly suspect you don't view your weekly statements that closely.
  • #4,493
  • Oct 30, 2012 5:16pm Oct 30, 2012 5:16pm
Quoting pjpipster
I should have been more clear.

The account was setup for a family member as stated. (10k). Joe had been on a demo for 6 months, and at that point Go was an easy option and did not to bad a reputation at that point. I wanted Joe (14yr old) to use a live account to learn the psychology of trading on a live account. He was making the usual miskakes, position sizing, anxiety, happy when winning , sad, pissed off when a loss was incurred.

.
So, i would go and trade his account back to balance. Placing the same trades on Joe's account as...
the only way was if the price's were different....
  • #4,494
  • Oct 30, 2012 7:31pm Oct 30, 2012 7:31pm
Quoting triptizine
the only way was if the price's were different....
Some of the deals are in dispute at present. Once that is completed the numbers will be posted.
  • #4,495
  • Oct 30, 2012 8:39pm Oct 30, 2012 8:39pm
Quoting pjpipster
I should have been more clear.

Not all the money lost was due to Go Markets scams, many were just bad trades on Joe's behalf, and we accept that. But what we do not accept is the fact with Go Markets, the field is not fare nor even. And that is the reason I judge GO as a scam broker.
So in that case those numbers are 100% meaning less.

*Sniff, Sniff. I smell cheese.
  • #4,496
  • Oct 30, 2012 10:38pm Oct 30, 2012 10:38pm
Quoting SlideLow
So in that case those numbers are 100% meaning less.

*Sniff, Sniff. I smell cheese.
LOL , yeah, you are right. Its cumming out your ass.
  • #4,497
  • Oct 30, 2012 10:48pm Oct 30, 2012 10:48pm
Quoting pjpipster
LOL , yeah, you are right. Its cumming out your ass.
  • #4,498
  • Oct 30, 2012 11:29pm Oct 30, 2012 11:29pm
Quoting triptizine


This also is totally irresponsible from Go Markets also.

Promoting people to overtrade. Think of the younger people wanting an iPad.

. 0.15 lots left to trade to enter the draw!
Today is your Last Day: Win 1 of 10 Apple iPads!
The funny thing is, this account is closed thank god.
  • #4,499
  • Oct 31, 2012 2:40am Oct 31, 2012 2:40am
no, i do not check my statements closely. However, yesterday i did and had limit order at 80.10 to sell usdyen before news and was executed at 80.023, 7.7 pips lower!! Never happend to me before, but now will watch closely every detail. It is to do with STP model I am told. Hmm.... I have to digest this one...
  • #4,500
  • Oct 31, 2012 4:54am Oct 31, 2012 4:54am
  •  larko
  • | Joined Oct 2010 | Status: 99 problems but a pip aint one | 41 Posts
Quoting macroman
no, i do not check my statements closely. However, yesterday i did and had limit order at 80.10 to sell usdyen before news and was executed at 80.023, 7.7 pips lower!! Never happend to me before, but now will watch closely every detail. It is to do with STP model I am told. Hmm.... I have to digest this one...
Never had a problem with them, I agree the ramping up of trading is a little bit dodgy, I thought it was pretty interesting they could generate an email like that automatically through MT4.. I have been with them for awhile and use another Aus broker to cover anything should the other go down.
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