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Website: http://www.gomarketsaus.com
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Go Markets claims to provide the following advantages:
- Metatrader4 platform with full use of Expert Advisors
- Spreads as low as 0.5 pips
- Up to 300:1 Leverage
- No Dealing Desk Execution
- Simple Account Funding
- Personal Account Managers
Go Markets is regulated and audited by:
Go Markets is an ASIC registered company (AFSL licence number 254963) that is regulated to offer financial services including Securities, Derivatives (including CFDs) and Margin FX.
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REVIEWS & RATINGS




rastaman, victoria
March 9, 20106 years Total
1 year with this Broker
Really improved, happy for scalpers and not annoying like a US broker and relaible system. Aud/Nzd at 6pips much better than 20pips with others
jack
March 9, 20103 Total
9 months with this Broker
fills are crap. They recently sent email that execution speeds on fills will be better---BUT nothing has changed and they remained pathetic. I am a prt of a trading group in which more then 20 traders are trading on gomarkets and all are having the same problem. Moreover they dont offer 500:1 leverage ( not that you need it). I have an account size of $14000 and they told me that they offer 500:1 leverege only on mini accounts--so obviously false advertising on their website. Their spreads are not that good either. Mostly ranging from 1.3-1.6 pips spread on eu + slippage will average you btw 2.5-3.5 pips spread on eu which is BS.
Wish they can be more honest and be fair. Im ashamed of their customer service especially chris character who has got every excuse to back their dishonesty. stay away !
reccotrader,canada
March 4, 20104 years Total
6 months with this Broker
Used to get a slow connection but after pressure from the forums GO seemed to listen and now very quick trades and good spreads.
Quick for withdrawals and 500:1 leverage handy.
A couple of clueless night desk staff made me only give 4 stars and not 5
Roy, UK
February 24, 2010Too Long Total
over a year with this Broker
I must disagree with you Serpent, as mentioned in my earlier post , my execution speed is great and i am a succesful scalper, yes they arent perfect all the time and their website could be a bit more user friendly but at least they arent a bucketshop like some I could mention. Im in the UK and my speeds are pretty fast less than 1 second on average and if I do see occasional slippage it is 50/50 possitive and negative so I can live with that.
maybe you should try a VPS as my mate is on a wireless connection so uses crucial VPS to alleviate this and its very quick.
good luck and hope you can get the speed resolved.
serpent
January 30, 20106 yrs Total
9 months with this Broker
ok so i phoned gomakts regarding market porders taking 3-5 seconds to get filled. Their aothetic answer was to check my internet speed?? I have one of the fastest internet speeds. Moreover i told them many of my friends ( more then 15) who are using goimakts have been experiencing the same problem in the last few mnths. They are obviously doing this either on many accopunts or accounts making good profits. All my friends including myself trade >95% on scalps and i think they dont want to suppot that but are not saying it. Pathetic and outright unethical with all the other games they are playing !!
Roy, UK
January 9, 20104 Years Total
1 Year with this Broker
My Forex trading experience has certainly changed over the past 12 months.
MT4 is my preffered trading platofrm but have had some below average experiences with UK brokers who will remain nameless.
Australia's regulation is similar to the UK so I decided to start trading with GO markets, my style of trading is very short term so timing is off the essence. At first Go markets had an average execution speed and delivered more than enough requotes. A few months ago Go updated their servers and the difference is considerable, no more requotes as they have adopted market execution and a very fast response time.
I would recommend a good internet speed if you are a scalper and failing that a VPS could help.
Spread are generally very good but sometimes at night the spreads can widen but top be expected.
All in all they have improved to a good broker but it took some time.
serpent
January 4, 20106 years Total
8 months with this Broker
i agree with many points mentioned below by Fred. ( Nigel --very understanable that as u r part of company hired crew --u feel the need to defend----but NO AMOUNT of contribution can outweigh customer feedback)
ive had terrible slippage for the last 2 months and have read many traders complaining about the same issue on various forums. Someone from Gomkts has always responded by asking to call in?? why? whu should there be a need to call in when many many are complaining of the same issues?
The company plays a lot of games as Fred has mentioned below and i sincerely hope that you get your act together. Shame !
stevo, Oz
December 3, 20092 years Total
6 months with this Broker
Since the upgrade I have had nearly seamless service, good fills and spreads. I scalp with no issues but I dnt news trade as its a mugs game
If you want genuine prices then you must be prepared for spreads to move wider during news as thats what the market does. I would rather that than a market maker I trade with Dukas Copy and IB and exactly the same happens. Dukas and Interactive brokers are slightly better but Go Markets are the best for MT4 that I have tried so far.
Nigel (Go markets company Director)
December 2, 2009Go markets company Director
I feel it should be allowed that we can at least put a reply to Freds comments
We have a very loyal and satifisfied customer base in Australia and worldwide we take negative experiences very seriously and if we can be of assistance and help then you only have to ask.
Go markets has received much accolade for its new price feed and has recently won an award for its forex service but we are not naive or complacent enough to realise that you cant please everybody at once. Go markets has listened to clients comments on forums and via emails and have upgraded our services accordingly and has many testimonials from clients including the many scalpers and short term traders.
Go markets is 100% guaranteed STP so all trades are passed onto independent liquidity partners we do not operate any dealing desk whatsoever so no price manipulation will ever occur, this is also backed up in our legal documentation that all clients will read before joining Go markets.
Go markets also is attracting many professional clients both in Australia and internationally and is launching a full ECN 'GotraderPro' in January, this will have even lower spreads but will of course attract a small commission and clients will have the choice of platforms.
I finally would like to reiterate the point that you cant please everyone and if you are a client I would urge you to get in contact so we can assist you
I thank 100forexbrokers for allowing us to reply.
Fred, Sydney
December 2, 20092 years Total
1 year LIVE with this Broker
Since its recent establishment in 2006 as a smalltime retail broker GoMarkets has come a long way; from bad to bigger - and worse.
No disadvantages? In June this year they tried removing dealer intervention requote dialogue boxes to 'remove risk of requotes' i.e.
immediate slippage on market entry. Thought you entered at the market price you clicked buy/sell on? Wrong. You'd end up with a price order that is filled almost arbitrarily seconds later prety much at the end of the nearest S/R region, get left there leaving you gaping when
price reverses. Faced with an overwhelming number of complaints and no doubt potential loss of clients they soon replaced it with the default mt4 'enable maximum deviation' box (making it sound like they came up with the idea). In early September they issued an email and MT4 messages informing clients of an upgrade to both server and Metatrader platform that "vastly improved connection speed and also improves order execution." An entire paragraph was dedicated to telling you how fantastic their server upgrade was, how much faster and stable MT4 connectivity would be, how using the old MT4 would leave you at high risk of intermittent disconnections - and barley mentioned that they were changing order execution. Warning bells began to ring - when your service provider begins losing their transparency as an indication of honesty and trustworthiness, you know it's time to bail. You can guess what the changes where; again, removal of the confirmation of whether you want to take the poorly requoted price. Exactly what they tried to implement in the first place to stall the scalpers, only this time they disguised it in the form of an 'upgrade'.
While requotes and dealer intervention can be manually harnessed by a broker to prevent a possibly damaging entry (from their perspective), Gomarkets began and continues to market itself seemingly to the small retail trader - to which there is far more potential to be made and far more advantage in putting the poor slob in a ridiculously negative and unintended position leaving him with no choice but to exit on his own (or get stopped out) at a loss, than to stop him from entering in the first place. Moreover there is far less effort and far less to lose by removing confirmation requote boxes to allow a small-time scalper/breakout trader (EA or not) to eat his own equity out since not only are these the kind of guys that go for at least 3 refills before moving on to the next broker, their equity contribution to the
overall fund present a close to zero collateral and there's always fresh blood for 'easy money' so it doesn't really matter whether they
go bust or not. High roller position/carry on the other hand need to be taken care of - as a broker you wouldn't want that 500k guy walking
(what's left of) his equity out on you, not before you're done with it anyway. But trade execution slippage isn't such a bad thing for these guys, they got money to burn anyway.
If Gomarkets was purely or at least moderately dedicated to the prosperity of their clients, would they pull off cheap tactics like
these? Obviously there were some traders out there costing them alot of money possibly from their small variable >0.5 pip spreads or they
just figured they could make do with more of it.
Their marketed arbitrary tiny spreads do not come without a certain advantage however. They may be small spreads, but it does not mean
they will stay that way. REMEMBER THAT THEY ARE VARIABLE. And very much so. The typical retail broker with market-made feeds will
increase spreads during low liquidity. Gomarkets are no different, but are so inconsistent they essentially con you into getting stop hunted,
not that they need to in the first place. Particularly prior to news releases - or whenever they want really - they will the jolt their
amazingly small 1-2 pip spread that never seemed to go more than 3 to 10-20 pips for a MILLISECOND to knock the news trader out senseless without warning. Whereas other brokers will transparently show an increased marketmade feed, Gomarkets essentially market their tight variable spreads in order to take full advantage of arbitrarily removing pain-in-the-ass orders that eat at their equity. FXCM have
used the same - albeit worse - dirty tactics (albeit more) and have been fined by the NFA for it; Gomarkets is just a touch away.
At any rate, bottom line is if you're a news breaker or EA scalper you WILL lose (or stall profits at any rate) with them. Again, if you like
having uncancellable orders with 3-5 seconds of delay during high activity periods before a slipped entry at the bottom or top of a move
so that you bear the absolute brunt of the retrace then by all means go for it. Although typicial of marketmaking tactics they will
nonetheless stop hunt with their variable spreads when it suits them, particularly in typical S/R stop loss houses.
Having learnt this the hard way, it's the least I can do for the fellow little guy trying to beat the exchange to emphasise that a)
they will stop hunt with spreads - NEWS TRADERS BEWARE b) they will slip your market entries - SCALPERS BEWARE and c) they are devious and will do whatever it takes to keep themselves afloat even if it means implementing - or even deceptively hiding and sliding in - any changes ('improvements') that will cost you your hard earned pips - EVERYONE BEWARE.
Of course you won't have too much of an issue with medium-long term trades - but then why would you risk using a self-serving and
scandalous broker that prides itself on tiny spreads when you don't need them? The sad fact is that there are many retail brokers out
there using devious tactics to take your hard earned money, and Gomarkets unfortunately seems to be just another one of them.
Forex is hard enough to beat without unscrupulous brokers making it harder. Here's a chance for you to learn from someone else's mistakes.
Do yourself a favour a choose someone else.
jake, ontario
November 17, 20093 years Total
1 year with this Broker
Go certainly are getting better with spreads and speed plus the MT4 works well.
I have to agree with law below regarding the small lot sizes being fustrating but your reviewe prompted me to ask Go and I have been told by my account manager Nadia that they have now lifted restrictions as all testing has been completed so lot sizes have been upped, not sure by how much at this stage.
Hope that helps you
law
November 15, 20092 years Total
1 yr live with this Broker
why are the maximum number of lots that can be traded is 10? no other broker has such a low limit. I guess succesful traders are prevented from making larger profits as losers in large herds lose more ;)
Smiler, England
November 15, 20096 years Total
2 Months with this Broker
Recently started using Go Markets. Very impressed with the service so far.
Great spreads even during Asian trading, they are true to their word regarding no requotes.
Will update my review when I have used them for longer so at the moment I award them 4 stars
rich, London
October 15, 20094 years Total
4 weeks with this Broker
Easy to setup the account , good spreads, no funny business with prices and no requotes.
So far recommended.
Tdog, Australia
October 1, 20094 years Total
1 year with this Broker
No problems to speak of, service has got much better . new servers have made trades much more accurate.
Expert advisors working fine.
Thumbs up