Share your experience with GoMarkets.Aud 3 replies
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DislikedI'd like to know where the profit/loss statements of this company are. This would give everyone a better picture.Ignored
Disliked
it's simple only hold funds with the comapny you can afford to lose!Ignored
DislikedI don't think it would. And if I ran the company i would not show you... as then it would be asked of me to show day by day to get the best idea. that's crazy!
it's simple only hold funds with the comapny you can afford to lose!Ignored
DislikedJust like any other company thats traded on the stock exchange is required to do. Not being able to present these reports means your trying to hide something, plain and simple.Ignored
DislikedHave you asked to see them and been refused? I mean besides mentioning it here.
Edit: I wrote that before I saw your last post. Don't take it the wrong way.Ignored
Disliked
and to see people like yourself are still on about individual maniplation just makes me laugh.
Cheers,Ignored
DislikedMy God does that point really need to be made? are individuals on this forum that silly think that they don't know this already?
Companies fail all the time, god look at the us in the last few years. is this really such big news. you read the pds you know the terms....Ignored
for a person based in Sydney.
The reason behind this is that most of the other MT4 brokers are pawns to the bigger international brokers, where all trade execution is completed and data feeds are spawned from international networks near London or NY. I know that GoMarkets are GMT+2 servers whether that is where the trades are executed that is another story.
When it comes to spread I used an excel recording of all bid and ask quotes values that were received by the platform. It consistently showed that its spreads were better than all other Australian brokers and better than most international brokers too, during all 3 trading sessions (Asian, London and NY sessions). The funny thing is GoMarkets were completely unaware that I was analysing their feed. The only time they were not better was around midnight GMT+2. This is typical of a broker receiving a genuine ECN styled feed, as banks around the world do their calculations of rollover etc... then and therefore there are less offers on the market. This is especially the case at 17:00 NY time on Wednesday, which translate to Wednesday going into Thursday GMT+2 midnight time).
The above recording of the data can also be used to analyse the number of different (BID / ASK) ticks that are being received at your platform over a given period of time. GoMarkets came out on top with this too.
Stability of platform can be the result of poor data feed issues or the result or the platform not being able to handle your indicators, or your computer. My computer could be used by NASA (LOL) and most brokers were fine, however, there was one that was distinctly poorer than the others.
This analysis was performed during the Northern Hemispheres winter, and Australia's summer (last December 2009 through to February 2010).
Individual manipulation is a load of rubbish in a well regulated country (like Australia, Britian and USA (and the Swiss are becoming better). When someone claims 'individual manipulation because they would be profitable if they weren't manipulated against', that is the same as saying:
OR
This is the case for nearly anyone living and trading through a broker in a well regulated country.
GoMarkets have no need to manipulate, because they are simply not allowed to participate in the actual Buying or Selling of your currency. Slippage which should be more accurately called gappage in an ECN styled broker, allows the broker to Buy or Sell at a better price thereby allowing the broker to make more money out of you. However cause GoMarkets are not allowed to participate in the actual trade this cannot occur with them.
In other words GoMarkets really have no benefit out of delaying your execution. As a matter of fact they actually lose out of delaying your execution, because they get a currenex feed another trader with another broker may have gotten the better execution if GoMarkets delayed trade (you will be the unhappy customer and they have no additional financial benefit because they are not the ones buying or selling the currency).
In other words with GoMarkets if spreads widen it is because of:
Also if trades are delayed:
Now as GoMarkets do have customers that claim great execution speeds (including Americans) that suggests that people who claim otherwise are probably more likely to be at fault for the execution slowness. Either they have:
Hopefully you can work it out for yourself why all of those above matter.
A couple of years back I quit IBFX in protest of their trade execution. I trialled a few other brokers, then I learned about trade execution and so went with a broker that was local (Australian or at least Asian). The closer your broker's servers are to you, the better chance you have of good execution. GoMarkets are through Melbourne to a GMT+2 timezone.
The PDS point is also not a problem. This is the same for any financial business around the world (banks, insurance companies, brokers (retail or not), professional traders, superannuation companies etc..., plus any company that you could invest in through the stock markets).
What billflet said is true "Policies, promises and best of intentions are worthless if the company holding your money goes broke. Debating it here is an exercise in futility. In the event of bankruptcy, maybe GoMarkets will pay, maybe they won't. In the end, a judge will decide. Even if the decision goes in our favor, there is still no guarantee. If there is no money there, no one gets paid. That's the inherent risk."
And this is the same with the money you have in your bank, in your home loan etc.... The PDS point is really a non-point.
any way happy days
Learn and trade well...
aquaart....
DislikedNothing was fixed and i can assure you 200% this was manipulated on their side since i was comparing it with another individuals acocunt whose execution was perfect.Ignored
DislikedO.K. , thats definatley not an intelligent reply. I'f you can take money from someone and cant guarentee that you'll be able to give the money back. You outta be able to show the health of your company, right?Ignored
DislikedNot really necessary, ASIC does that for us here in Australia...
Though it is not to the same degree of USA regulators for retail forex.
Also segregated means that clients funds as a group are help separately to business funds. So if the company goes bust, as long as trades were executed properly up until close of business, clients overall funds should be known. What becomes of them in the event of bust is actually a legal thing, which with any company we have little control over. Again this would be the same with most financial institutions....Ignored
DislikedPlease remember ASIC ABC XFF or whatever, is not checking every single accounting book of all the companies reporting to them.Ignored
DislikedIn Year 2010, with all the regulations in place there are still companies around practicing "cooking the books". That does not mean that GOMarket is practicing such accounting tricks...Ignored
DislikedAnother hint have you noticed that most of the time when there has been a failure it was already to late and all what will be done is winding up the joint.Ignored
DislikedI'm now experiencing the return of lost connections frequently.
Anyone getting the same experience?Ignored
DislikedI'm now experiencing the return of lost connections frequently.
Anyone getting the same experience?Ignored