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GOMarkets.com.au (Was GOMarketsAus.com) Review Visit site

Updated: Jun 19, 2019
2.801 · 220 REVIEWS
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2.801 · 220 REVIEWS
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Consumer Reviews

caleb manning,
Brisbane, Australia,
Oct 30, 2013,
Guest

Have been with Go market since 2009, with no problem until I started to use larger lot.

Problem 1, News GoMarkets will spike the spreads to more than 30 pips on all pairs, this will always hit your stop loss and take you out by will never hit your TP. Even when SL is 100 pips away and TP was only 10. It happened GPY/JPY and more than once. And is now happening more and more.

2) MT4 platform will always freeze during news events, and not for a few seconds but for a whole press conferences like ECB etc. Meaning that when they spike the spreads and hit your SL you will not be able to get back in on the trade because the platform has frozen !!!!!! This is because they do not put your order into the market, GoMarkes plays the odds and will be very nice to you as long as you don't win to often.
Like I said, I have been with GoMarkets for over 5 years and started with a mini account with a few hundred dollars, and never had a problem. Now that I trade 5 standard lots a few time a day things are staring to show.
Stay away from GoMarkets as if your money depended on it. unless you are always blowing accounts then GoMarkets will be more than happy to help.
You have been warned..
Sanjit Singh,
Toronto, , Canada,
Oct 3, 2013,
Guest

I had 2 Shortsell orders which did trigger but at a far lower price then the original order.

However, what is dodgy about this is that they were triggered when the market never reached those levels. The market did reach those levels but later on. In one case the market reached the level approx. 25 minutes later and in another case it reached the level approx. 5-min later.

The jury is still out as I wait for them to fix the issues. I will keep you posted.
Simon King,
Tasmania, Australia,
Jun 25, 2013,
Guest

I feel like I just had a denial of mt4. Then 30 minutes later I can see gold has moved against me closing 2 trades and trapping me......I wonder why. Have to admit I am on 4g wireless....

Further more to add to my story. A 4th credit card deposit has never showed up in my account after I received a receipt and confirmation via the website and email. I sent through a follow up email to cancel this after a delay of 48 hrs. There was some confusion over what I wanted even though these transaction were done through their webpage. I hope for gomarketsaus that the other complaints about profitable transaction being reversed is a legitimate one as it would scare me If this was just some random act. In all fairness they did credit my once as compensation for a delay and once for a MT4 error that they made in good faith.

2013-06-21 2Star I have had major delays in funds transfers. Costing me $$$ when I saw good trades, fund transfers took over 48 hrs. Once funds we never seen my gomarkets but later appeared in my account.
A 3rd delay happened today even though I had direct contact with a manager. Admittedly a trade was reversed when I explained MT4 had put me in a .09 trade when in options it was set to .01 as default. A $100 was offered as compensation but the company offer a $100 bonus this month anyway. I will also say that I have been with GMarkets for a few years with no trouble until now. Below is a summary of one problem and how it was handled. Later the manager rang me and apologised but again I had missed good opportunities and it ended up costing me money.
Please explain Matt -
Why the credit card transaction was not reversed immediately after out phone conversation.
Why there was a delay for the transfer of $417 to savings account as per the information on go-markets webpage.
I did close all the current open trades for you so you could do this.
It did not happen in a timely matter and I have found myself in a bad trade and unable to complete these transactions which I really needed to be done with some urgency.
Simon

Hi Simon,
As per our conversation you chose to deposit again and the withdrawal could not be processed due to the insufficient funds in the account. If you would like to withdraw now I would be happy to process this asap. Please advise if you would like this to happen.
Matt.
The time stamp on this email is - Wednesday, 5 June 2013 10:26:35 AM
What time did your office receive this information?
According to the website -
•Withdrawal forms received before 1pm AEST will be processed that day. Any forms received after this time may not be processed until the following day.
The Withdrawal was not processed by your office within that time. And it has made it difficult for me to manage the situation..
I also rang you.
And then followed up with a second email in the afternoon.
I am disappointed that gomarkets has not deducted the requested amounts on time.
This would have helped me manage my funds better. Can you please give me an explanation.
Thanks Simon
Could you please address this problem. A response by email would be appreciated.
Simon
P.S. I still haven't washed out this euraud trade and may have to put in even more funds. But would like this previous email responded too.
Hi Simon,
As per our conversation you chose to deposit again and the withdrawal could not be processed due to the insufficient funds in the account. If you would like to withdraw now I would be happy to process this asap. Please advise if you would like this to happen.
Sent: Tuesday, 11 June 2013 5:48 PM
To: GO Funding
Subject: RE: Matt - Problem withdrawing in good time
Matty. You were very polite and curt on the phone, but your email reply avoids my question, so
Please answer these 4 questions. - pre me depositing more funds...
1) Did you agree to refund me $500 on the 05.06.2013 as discussed on the phone early Wednesday morning. This was after I had alerted to you the fact that I had not received a receipt for the transaction and it happened 48 hrs later.
You then asked me to email you about withdrawing an extra $417 to my savings account If I replied with an email correct...
2) Considering I emailed you @ 10:30 am 05.06.2013, how long does it normally take you to with draw the funds as per you website information...
a) same day If you receive the information before 1pm
b) the next day
c) never
3) later that day I emailed you again with a request for both transactions to be completed as I had - 1) closed all open trades so you could withdraw the funds to my account.
Would these withdraws normally be done the next day in the
a)morning a 9.am
b) later that day
c) never
4)In hindsight do you agree that you did not respond in a timely manner.
If so can you explain why there was a delay with you receiving my emails. I would like to know the exact time your office recieved each email before you received the next final one @ Thursday, 6 June 2013 8:05:28 AM requesting you not withdraw funds as it was 24 hrs later.
As you know I was expecting the withdrawals to be complete on the 05.06.2013 as I had spoken to you and emailed you before the 1pm cut off time.
Please take your time to reply. There may have been some delays in you receiving emails . But If not I feel let down by your office for not responding in time.
Simon
A lot of these points I’ve spoken to you over the phone in relation to these I may have been unclear in our conversation. I would be happy to clear up any points via conversation to come to a quick resolution to any of these listed points again as not to drag out the confusion any further. If there are any withdrawals that you require please state in a reply to this email and I will be happy to process this for you. However be aware we require you to have sufficient balance to process this.
I am considering posting a review on forexpeacearmy.
You just wont answer my question.
Eric,
Calgary, Canada,
Jun 17, 2013,
Guest

I post before about the issue with my deposit. everything get fix.
so far its ok. I like the Autochartist the customer get for free

2013-05-30 2Star I just open a account with go last week. I deposit money in the account of Global Collect by the RBC bank the friday 24may now the 30th. live chat 3 times and told me to wait.
There web site say 1 to 2 days waiting.
CS so so . i read lots of comments and begin to be worry.
im goint to call them again tomorow.
so far only 2 stars but follow and update .

Did other customer have same issue with deposit
Thanks Eric
Lumps,
Australia, Australia,
Jun 6, 2013,
Guest

I must say I am super surpised to see so many bad reviews about this broker.I have been with for over three years now and have had nothing but good times. I have had multiple accounts including personal and company and they have been nothing but a pleasure to deal with in all dealings including deposit, withdrawal, account openings, trading etc Executions have been fast with limited slippage and any problems I have been contacted and they have been sorted by client manager. I have dealt with many brokers and although they are having a tough time getting their MT5 up and going which is sucking, they are up their for one of the best I have dealt with!
JAY D,
toronto, Canada,
May 6, 2013,
Guest

Personally, i have never had problems with them....but that may be because i have not been profitable. However, m last conversation with go, the REP told me that they have changed owners, hence the bad services. So better think twice before dealing with these guys now.
Luis,
, Portugal,
May 1, 2013,
Guest

I've seen here comments that this or that strategy is not "legal", but with no evidence that these people have any real kownledge of what they are talking about. Just nonsense comments with no real knowledge of the situation, becasue otherwise those people would be rating Go Makerts with 1 star as well.

Whatever GoMarkets claims are the plain and only real fact is that Go Markets wipes profits, many months after the corresponding trades have been exectuted at their sole and own discretion.

I've asked times and times again for GoMarkets to specify the trades they claim have problems and that justify the unconsented withdrawal in my account GoMarkets has made. GoMarkets is uncapable to deliver any proof or even trade list that can explain the unconsented withdrawal. I still wait for some kind of justification after more than 1 month and several requests.

When one financial company maks withdrawals in your account without your consent and with no justification whatsoever,is plain robbery.

On top of all this, GoMarkets took away an amount quite HIGHER than my overall and accumulated profits, so also this is a proof that their robbery action is no way connnected with reversed "illegal" trades.

How can someone trust a company where your money is exposed to like this ?

How can you trust someone that has made a contract with you (trade) and 5 or 6 months after comes after the money you have made with the contract, and robs you plainly just because they have the money on their side ??

GoMarkets is an horror movie, and since my more than 6 years of experience of Fx Trading I have never, never experienced such nasty behaviour...

A complaint is now running at the regualator, against this bad company, taht should not be allowed to take deposits from customers because they dont know what are their fiduciary duties.
Kerim,
Istanbul, Turkey,
Apr 28, 2013,
Guest

Following up with my deleted profits:
Have just filed a complaint to ASIC, asking them to review my case againt Gomarkets in order for them to restore back my profits worthing $3500. Would urge strongly anyone suffered to do so the same. The more poeple complain the stronger our case becomes and the more serious ASIC takes our case pressing Gomarkets as GoMarkets has failed to provide me with a valid proof of their accusations.

2013-03-27 1Star Being belong to the same parent company as VantageFX AUS, GoMarkets just like Vantage, deleted all profits I made for the period of 8 months of trading with them, and left losers untouched. Their BS reason is the same as other fellows posted: Suspicious activity-using Arbitrage Trading, both of which accusations are not true and absent of proof by them when asked. For now complaining to ASIC together with all other victims seems to be the next step. Would also like if FPA research about this case listening all these complaints posted here to label both GoMarkets and Vantage as scam bucketshops, so there wouldnt be new victims of scam
Tim Wilson,
, Australia,
Apr 23, 2013,
Guest

I have had an account with Go Markets since 2007. In the beginning there were a lot of server problems. They were eventually fixed and I have not had any significant performance problems for years. Support and administration has also been very good in my experience. On the few occasions that I have had a problem and contacted support the problem has turned out to be either the MT4 program on my own PC or the internet connection.

I spoke today (24th April 2013) to the current manager, Paul Hill, about claims that accounts are being frozen etc.

He advised me that certain types of EA’s (Btn Lightning etc) are being used by some to try and block or slow down the servers with high frequency attacks at critical times like major news releases. People using these EA’s then try to take advantage of these artificially induced lags. It is the people using these techniques, which Paul claims are illegal that are being targeted.

This seems fair enough to me because if these people are trying to effectively disable the servers the vast majority of legitimate traders are going to be affected or compromised.

Apart from being a client and having a current, active trading account, I have no other interest, connection or involvement with GoMarkets Pty Ltd and would not hesitate to close my account with them, as I have done with other brokers if I was not satisfied with their service.
Anthony Myers,
Aiustralia, Australia,
Apr 16, 2013,
Guest

GO MARKETS < GOTRADER, ,GOMARKETS will rip you off. ABOLUTELY KEEP AWAY ...DO NOT USE THEM MARKET MAKERS.

Contact ASIC:LINK for online. Australian Securities & Investments Commission.


https://www.edge.asic.gov.au/008/complaintV007?get/complaintDetails/t=1a217573e253e6fd8a229b153f0c6e5a418cabc

lawyers: http://www.gtlaw.com.au/services/competition-and-regulation/

T +61 2 9263 4000
F +61 2 9263 4111

Take them to court as they have commited Fraud misleading public and stole person funds illegally