GO Markets Review

GO Markets

GO Markets

www.gomarkets.com

  • Leverage: 1:30

  • Regulation: ASIC, CySEC, FSC

  • Min. Deposit: 200 US$

  • HQ: Australia

  • Platforms: MT4, MT5, WebTrader

  • Found in: 2006

GO Markets Licenses

  • GO Markets Pty Ltd - authorized by ASIC (Australia) registration  AFSL: 254963  ABN: 85 081 864 039 
  • Go Markets Ltd - authorized by CySEC (Cyprus) registration no. 322/17
  • GO Markets Pty Ltd (MU) - authorized by FSC (Mauritius) license no. GB 19024896

 

Top 3 Forex Brokers

  1. What is GO Markets?
  2. GO Markets Pros and Cons
  3. Is GO Markets safe or a scam?
  4. Leverage
  5. Accounts
  6. Fees
  7. Spread
  8. Market Instruments
  9. Deposits and Withdrawals
  10. Trading Platform
  11. Customer Support
  12. Education
  13. Conclusion

Our Review Method

  • 55Brokers financial experts with over 10 years of experience reviewed broker’s trading conditions and offerings including available platforms, trading fees, spreads, market offers, and regulations, as well as contacted customer support to evaluate conditions and give our expert opinion about Go Markets.

What is GO Markets?

Go Markets is an Australia-based Forex and CFDs broker founded in 2006. The broker provides a wide range of tradable CFD instruments including forex, shares, commodities, indices, metals, and treasuries. GO Markets is regulated by the Australian ASIC, the Cypriot CySEC, and the financial regulators in Mauritius.

Go Markets is one of the first Australian MetaTrader 4 brokers, later on, it added MetaTrader 5, WebTrader, and mobile apps to its suite of services. The broker is well known for its strict compliance and competitive spreads.

Is GO Markets an ECN broker?

Yes, our research shows that GO Markets is a regulated broker that offers an ECN pricing model for trading execution with low trading fees.

GO Markets Pros and Cons

GO Markets is a well-known and respected broker that provides trading with top-tier regulations and licenses. Our research showed that GO Markets provides quality trading conditions with the selection of platform, copy trading, social trading or auto capabilities. There are excellent support, learning and research tools. As well as for some entities, the broker offers negative balance protection to secure the trading process from losing money.

As for the cons, we found that the main point is that the conditions are different in each entity, and the instruments are mainly CFDs. Another frustrating point is that the broker doesn’t offer a low minimum deposit and the support is not available 24/7

AdvantagesDisadvantages
Long years of operationConditions may vary according to regulation and entity
Globally recognized and multiple awarded broker
Platforms MT4 and MT5 offered
Excellent support, learning and research tools

Go Markets Review Summary in 10 Points
🏢 HeadquartersAustralia
🗺️ Regulation and LicenseASIC, CySEC, FSC
🖥 PlatformsMT4, MT5, WebTrader
📉 InstrumentsForex, CFDs, Indices, Metals, Cryptocurrencies and Energies
💰 EUR/USD Spread1.2 pips
🎮 Demo AccountUnlimited
💰 Base currenciesEUR, USD, AUD
📚 EducationEducation provided for Free
☎ Customer Support24/5

Overall Go Markets Ranking

Based on our Expert findings, we find Go Markets a reliable broker with a good reputation and high-level protection. The service provided by the broker is favourable entailed with good trading conditions suitable for both novice and experienced traders. While the main point is

  • Go Markets Overall Ranking is 7.9 out of 10 based on our testing and compared to over 500 brokers, see Our Ranking below compared to other industry Leading Brokers.
Ranking Go MarketsInteractive BrokersRoboFOrex
Our Ranking⭐⭐⭐⭐⭐⭐⭐⭐⭐⭐⭐⭐⭐⭐
AdvantagesCopy Trading24/7 supportLow Minimum Deposit

Go Markets Alternative Brokers

Despite all the good conditions and low spreads provided by Go Markets. We find the lack of a low minimum deposit is a major drawback alongside slim trading product selection. Here are some alternative brokers for Go Markets:

  • Pepperstone – Excellent Broker with a vast range of products
  • RoboForex – Good broker with a low minimum deposit
  • Dukascopy – Excellent for Shares, Futures Trading

Awards

Over the past 15 years of operations, Go Markets has won a number of awards for its services including for educational programs. The broker always tries to provide the best possible conditions and solutions for clients. Here are some of the awards granted for Go Markets:

Go Markets Awards

Is GO Markets safe or scam?

No, Our experts don’t consider GO Markets a scam since it is authorized to operate financial services under the top-tier Australian Financial Services Licence, known worldwide as ASIC. Besides, there is an additional European entity that operates under a CySEC license, therefore its proposals may vary according to regulations.

Where is GO Markets based?

The broker has its main offices in Australia and Cyprus while bringing a valued trading environment connected to advanced technologies and allowing traders to develop strategies and improve trading outcomes.

Overall, GO Markets promises together with its continuous provided support and challenges great opportunities available for trading of any size trader. So let us see closer within GO Markets review what is so rewarding and good about its proposal.

Is GO Markets legit?

Concluding in simple words it means that all tools and applicable set-ups provide a safe trading environment, according to regulatory requirements and numerous audit rules. As an OTC derivative provider, GO Markets is required to adhere to disclosure benchmarks set by the corporate ASIC, while in reverse the investors understand the risks and potential benefits.

See our conclusion on Go Markets Reliability:

  • Our Ranked Go Markets Trust Score is 8.6 out 0f 10 for good reputation and service over the years, also reliable top-tier licenses and serving regulated entities in each region it operates. The negative side is that it doesn’t provide a low minimum deposit.
Go Markets Strong PointsGo Markets Week Points
Regulated broker with good record and history of operationNone
ASIC license and overseeing
Additional CySEC license
Negative balance protection
Global expand

GO Markets license

Investor Protection

Generally, risk management is maintained by various practices, among the considerations of hedging counterparties and clients’ funds’ segregations at the National Australian Bank (NAB), along with margin calls and fair usage policies. Likewise, European entity falls under ESMA regulatory requirements and obligations towards clients’ safety.

Also, being a fully authorized financial trading provider GO Markets adheres to strict protection of the client’s funds through segregation, and also fair conditions that are constantly monitored and audited.

GO Markets Leverage

Another great feature while trading Forex is an allowance to use leverage, which may potentially increase your gains timely. However and in order to minimize risks as well, which work in both directions, it is necessary to learn how to use leverage smartly.

What is the Maximum leverage in GO Markets?

GO Markets as a Forex Broker Australia being authorized by ASIC still allows ratios up to 1:30 for Forex instruments. Also, GO Markets Leverage depending on the entity you have account with since leverage falls under certain regulation

  • European GO Markets clients entitled for a maximum of 1:30 according to regulations.
  • International Traders can access high leverage ratios

Account Types

The broker offers two account types Standard and GO Plus Accounts with the flexibility to manage the trading way and choose the best fit. So there is an option between a Standard trading proposal based on spread charges and access to a true ECN environment via GO Plus+ specifically designed through light-fast technology.

In addition, the account can be opened in a few different currencies as a base one including AUD, USD, GBP, EUR, NXD, SGD.

ProsCons
Fast account openingNone
Easy switch between Demo and Live Accounts
Standard and GO Plus+ Accounts
Range of Account base currencies

Go Markets Account Types

How to open your Account

At first, you may open a Demo account which will require you only create the login page with the email address and password. Further on if you decide to go Live you should follow the next steps

  1. Enter all the parameters including Name, email, Phone, etc
  2. Choose the account type and base currency
  3. Specify your trading experience and expectations
  4. Upload proof of address, ID, etc (due to regulatory requirements)
  5. Submit
  6. Once your account approved follow with a money deposit

GO Markets Fees

GO Markets pricing is mainly built into a spread, Standard account defines no commission bases, bringing spread only basis starting from 1.1 pips option and is the best match to start trading with no complications.

Further, the GO Plus Account is already a choice for advanced traders or those whose strategy requires it as spreads from 0.0 pips and trading costs inbuilt in the commission of 3.00$ per side.

  • Go Markets Fees are ranked low with an overall rating 8.6 out of 10 based on our testing and compared to other brokers. Fees might be different based on entity offering, see our findings of fees and pricing in the table below, however, Go Markets’ overall fees are considered good.
FeesGO Markets FeesAvaTrade FeesXM Fees
Deposit feeNoNoNo
Withdrawal feeNoNoNo
Inactivity feeYesYesYes
Fee rankingLowAverageHigh

Spread

GO Markets spreads as mentioned designed for the account you use, while the Standard account will offer a slightly higher spread Plus traders enjoy interbank spread but with commission per trade. For instance, see below a comparison of the Standard spread offering, as well as your comparing fees to another popular broker.

Also, always consider overnight fee as a cost, also known as Rollover rate or interest for holding positions open overnight.

  • GoMarkets Spreads are ranked low with overall rating 8 out of 10 based on our testing comparison to other brokers. We found Forex spread average of 1.2 pips for EURUSD, and spreads for other instruments are very attractive too

Asset/ PairGO Markets SpreadAvaTrade SpreadXM Spread
EUR USD Spread1.2 pips1.3 pips1.6 pips
Crude Oil WTI Spread1.9 pips35
Gold Spread2.4 pips4035
BTC USD Spread200.75%60
GO Markets spread

GO Markets Trading Instruments

The offering of instruments based on the range of more than 350+ instruments through CFDs of Forex, Indices and Commodities markets and Cryptocurrencies. While each instrument has its own specifications and trading conditions, we appreciate the offered range as it allows us to diversify our portfolio and trade competitive markets.

  • Go Markets Range Score is 8 out 0f 10 for wide trading instrument selection, yet the availability of certain instruments might be the issue of the different entities.

GO Markets instruments

Deposits and Withdrawals

Deposits to the live trading account can be done in numerous convenient ways while the payments will attract no additional processing fees. GO Markets does not charge any internal fees for withdrawals, however, fund withdrawals to non-Australian banking institutions may be waived for some fees and are your responsibility, so make sure to check those as well.

  • Go Markets Funding Methods we ranked Excellent with an overall rating of 7.8 out of 10 in comparison to other brokers. The fees are either very little or no fees at all depending on the entity. On top of that, the range of funding methods is quite wide.
Go Markets AdvantageGo Markets Disadvantage
Fast digital depositsNone
No internal deposit fees or withdrawal fees
Multiple Account Base Currencies

Deposit Options

The payment options including

  • Credit or Debit Card,
  • bank to bank through Australian banking institutions,
  • BPAY payments,
  • e-payments like Skrill, Neteller, POLi

What is GO Markets’ minimum withdrawal?

GO Markets’ minimum deposit amount is 200$ as a beginning which allows you to use the full service of live trading and open a Standard account.

Does GO Markets offer no deposit bonus?

Our research showed that Go Markets doesn’t offer no deposit bonus.

How Long Does GO Markets withdrawal take?

GO Markets Withdrawal option uses the same methods for money deposits like Bank Transfers, Cards and e-wallets, yet verify with customer service what method is applicable for you according to your own residence and its policies, or laws applied. We tested withdrawal at GO Markets and it took us 1 business day.

GO Markets deposit

Trading Platforms

MT4 is truly considered a Forex standard for traders around the globe indeed, thus GO Markets chose their mainstay as this technology but actually, MT4 may vary from one company to another since the broker can implement various extensions as well to provide better features.

  • We ranked Go Markets Platforms Score 7 out of 10. The broker offers a variety of trading platforms including industry-leading MT4 and MT5.

Trading Platform Comparison to Other Brokers:

Platforms Go MarketsPepperstoneFXCM
MT4 YesYesYes
MT5YesYesYes
Own PlatformYesYesYes
Mobile AppYesYesYes
cTraderNoYesNo

Web Trading

So looking at the GO Markets platform we found its comprehensive and advanced edition, where various versions are supported and inbuilt. So you will find a Web Trading platform which is great to use at any device since does not require installation, yet might be a bit less advanced with the tools.

Desktop Trading Platform

Being the most widely used platform MT4, of course, is available and suits versions for Mac and PC, which are definitely a must for advanced or active traders. In the GO Markets desktop platform, you can enjoy full capabilities and great customization, along with a fantastic proposal from GO markets that include advanced tools alike MT4 Genesis. As it helps to navigate through global markets as well as computable with automatic trading through Expert Advisors and numerous built-in indicators.

Platform Look and feel

MT4 is a perfect platform for both beginner and professional traders and is an excellent charting software where parameters or drawing objects stand at a very high level. The look itself is clean and comfortable in addition to 3 types of charts and display options.

Furthermore, GO Markets enlarge their offering by adding MetaTrader5 to their proposal too, which is a more new and developed version of beloved MT4 one. So if you prefer this software go ahead, along with a copy and social trading options that are reachable through myFXbook, a world-leading platform with over 90,000 people that allow to be copied or copy trading professionals to the benefit of both.

Mobile Trading Platform

Of course, all platforms feature mobile trading app, so you can use Mobile devices that are bringing absolute freedom to trade. Both platforms MT4 and MT5 feature Go Markets mobile platform along with its seamless versions all attached to one account.

Go Markets Tools

Lastly, there are special tools like VPS service are option you may count on too. Since it brings access to hi-tech trading and runs Algos and Expert Advisors remotely and nonstop. The existing live account can get a free VPS use if the minimum balance of 3,000$ is maintained, otherwise a service fee of 30$ per month will be charged.

GO Markets platform

Customer Support

So again GO Markets Customer Service was rated #1, in addition to its great Awards received in other aspects. Successful brokers recognized the need for quality service, but of course, not everyone can have one.

However, GO Markets stands ahead in that point too, so you can count on relevant and fast answers from the Customer Support GO Markets. The broker’s team is available around the clock and supports international languages accessible via Live Chat, email, and phone lines in Australia, the UK and internationally as well.

  • We rank Go Markets Customer Support 7.8 out of 10. The support is helpful and the answers are provided quickly through every communication channel. The variety of methods is wide. The main problem is that the support is not available 24/7
ProsCons
24/5 supportNo 24/5 client support
Quick response and Relevant answers
Live Chat, International Phone Lines and email
Well recognized customer care service

Education

And of course, since novice traders always pass through great challenges while exploring trading opportunities, GO Markets provide the educational materials and research resources necessary to perform seamless trading. Eventually, GO Markets educational programs and its GO markets Academy are numerously award-winning materials that are defined by all levels of traders and available for Free use.

So in GO Markets Academy and Education Centre, you will find Forex trading learning courses, Video Tutorials, also Tutorials and regularly held Seminars and Webinars in various languages. Also, Demo Account is offered for free use with no limits where beginners can place their strategy at the test or see Go Markets environment.

  • We ranked Go Markets education 7.6 out of 10. The broker provides good educational resources available in multiple formats including webinars, news, seminars, etc, suitable for both novice and experienced traders. Moreover, the broker provides outstanding research and analytical tools for free.

Research

As for the Research tools, besides very comprehensive research inbuilt into Metatrader 4 platform, Go Markets also cooperates with Autochartist and Trading Central providers so you can use its free trading signals and ideas for your benefit. Besides, thousands on MetaTrader4 & 5 Add-ons remaining at your suite which is defined by the instrument and specified criteria, where also you may use great tool MT4 Genesis.

GO Markets learning

Go Markets Review Conclusion

Overall, our GO Markets review shows a straight trading process broker with numerous benefits and indeed a vast amount of excellent rewards received either from industry publish or worldwide traders. One of the main attractions is a comprehensive range of trading instruments, even including Binary options and recent trends with a bunch of Cryptocurrencies, while all instruments are traded with competitive pricing according to each of offered account types that are starting from 0.0 pips.

Based on Our findings and Financial Expert Opinions Go Markets is Good for:

  • Beginning Traders
  • Regular Traders
  • Professional Traders
  • Technical Trading
  • Autot Trading
  • Traders who prefer MT4 platforms
  • Currency Trading and CFD Trading
  • Running various Strategies
  • EAs trading
  • Social Trading
  • Excellent Research
  • GO Markets enters Europe, acquires Galactus Ltd

    Australian foreign exchange brokerage firm GO Markets revealed that it is acquiring Cyprus financial services provider Galactus Ltd to enter the European market and continue its global expansion.  Galactus Ltd is an investment company authorized by the Cyprus Securities and Exchange Commission (CySEC). It holds license 322/17 and was established in 2016.  It has been...

    Read more
  • GO Markets obtained Mauritius Investment Dealer Licence

    GO Markets continues its strategic expansion into the Middle East, Africa and Asian region. GO Markets obtained an Investment Dealer Licence in Mauritius on 20 February 2020 from the Financial Services Commission (FSC).  Mauritius has established itself as an International Financial Centre (IFC) of excellence and repute for Africa and Asia. The evolution of Mauritius...

    Read more

11 responses to “GO Markets”

  1. Hello GO Markets brokers

    I’m looking for a broker, I’m new in trading

    And I want to open a account with the company

    • No they do not, “ GO Markets cannot accept any live account applications from clients who are residents of Israel, Belgium, Canada, Japan, New Zealand, Turkey, United States of America and Vietnam. If you feel that you may qualify for an exemption, please email support@gomarkets.com.”

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