- What is GO Markets?
- GO Markets Pros and Cons
- Is GO Markets safe or a scam?
- Market Instruments
- Deposits and Withdrawals
- Trading Platform
- Customer Support
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 1000+ tradable CFD instruments including forex, shares, commodities, indices, metals, and treasuries. GO Markets is regulated by the ASIC in Australia, the CySEC in Cyprus, the FSC in Mauritius, and the FSA (Seychelles).
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 facilities 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-trading capabilities. There are excellent support, learning, and research tools. The broker also offers negative balance protection
As for the cons, we found that the main point is that the conditions are different in each entity. Another point is that the broker’s support is not available 24/7.
|Long years of operation
|Conditions 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
|🗺️ Regulation and License
|ASIC, CySEC, FSC, FSA, FSA
|MT4, MT5, WebTrader, cTrader, Mobile Trading
|Forex, CFDs, Indices, Metals, Cryptocurrencies, Share CFDs, Commodities
|💰 EUR/USD Spread
|🎮 Demo Account
|💰 Base currencies
|AUD, USD, GBP, EUR, NZD, SGD, CHF, CAD and HKD
|Education provided for Free
|☎ Customer Support
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.
|Low Minimum Deposit
GO Markets Alternative Brokers
Despite all the good conditions and low spreads provided by GO Markets, we find that a minimum deposit requirement for account opening is a 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
Over the past 17 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:
Is GO Markets safe or scam?
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 offices in Australia, Cyprus, Mauritius, Seychelles, and the SVG 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 its regulators, 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 regulated entities serving in each region it operates.
|GO Markets Strong Points
|GO Markets Weak Points
|Regulated broker with good record and history of operation
|License and oversight by ASIC, CySEC, FSC and FSA
|Negative balance protection
Generally, risk management is maintained by various practices, among the considerations of hedging counterparties and clients’ funds segregation at top-tier banks, 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 Leverage depends on the entity you have an account with since leverage falls under certain regulations. International Traders can access high-leverage ratios.
- European GO Markets clients are entitled to a maximum of 1:30 according to regulations.
- GO Markets Pty Ltd, Mauritius (FSC) offers leverage up to 1:500
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, NZD, SGD, CHF, CAD, and HKD.
|Fast account opening
|Easy switch between Demo and Live Accounts
|Standard and GO Plus+ Accounts
|Range of Account base currencies
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
- Enter all the parameters including Name, email, Phone, etc
- Choose the account type and base currency
- Specify your trading experience and expectations
- Upload proof of address, ID, etc (due to regulatory requirements)
- 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.
|GO Markets Fees
GO Markets spreads are aggregated from 22+ Tier 1 and 2 liquidity providers making them go as low as 0.0 pips. The GO Markets average spreads for Standard and GO Plus+ accounts are listed on their page. However, the data is provided for general information only and is taken over a one-month period. Prices shown may vary. For instance, see below a comparison of the Standard spread offering, as well as your comparing fees to another popular broker.
Besides, always consider overnight fee as a cost, also known as Rollover rate or interest for holding positions open overnight.
- GO Markets 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
|GO Markets Spread
|EUR USD Spread
|Crude Oil WTI Spread
|BTC USD Spread
GO Markets Trading Instruments
The offering of instruments based on the range of more than 1000+ instruments through CFDs in Forex, Indices, Metals, Cryptocurrencies, Share CFDs, Commodities, and Treasury.
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.
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 Advantage
|GO Markets Disadvantage
|Fast digital deposits
|No internal deposit fees or withdrawal fees
|Multiple Account Base Currencies
The payment options including
- Credit or Debit Card,
- Bank transfers,
- BPAY payments,
- e-payments like Skrill, Neteller, POLi
What is GO Markets’ minimum withdrawal?
GO Markets’ minimum deposit amount is 0$ 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.
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:
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.
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. And although the broker does not provide 24/7 client support, it has highly acclaimed 24/5 client support
|Quick response and Relevant answers
|Live Chat, International Phone Lines and email
|Well recognized customer care service
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.
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 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
- Auto Trading
- Traders who prefer MT4 platforms
- Currency Trading and CFD Trading
- Running various Strategies
- EAs trading
- Social Trading
- Excellent Research