- 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
What is GO Markets?
GO Markets is launched in 2006 brokerage company operating under the ASIC (Australia) license, driven by compliance, competitive spreads and tech developments.
Where is GO Markets based?
The brokers through its main offices in Australia and Cyprus while bringing a valued trading environment connected to advanced technologies and allow 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.
GO Markets Pros and Cons
GO Markets is one of the largest and respected brokers with top-tier regulation and licensed. GO markets provides quality trading condition with selection of platform, copy trading, social trading or auto capabilities. There is an excellent support, learning and research tools.
From the cons, the conditions are different in each entity, and instruments are manly CFDs.
10 Points Summary
|🗺️ Regulation and License||ASIC, CySEC|
|🖥 Platforms||MT4, MT5, WebTrader|
|📉 Instruments||Forex, CFDs, Indices, Metals, Cryptocurrencies and Energies|
|💰 EUR/USD Spread||1.2 pips|
|🎮 Demo Account||Unlimited|
|💰 Base currencies||EUR, USD, AUD|
|📚 Education||Education provided for Free|
|☎ Customer Support||24/5|
Is GO Markets safe or a scam
No, GO Markets is not a scam it is authorized to operate financial services under top-tier Australian Financial Services Licence, known worldwide as ASIC. Besides, there is an additional European entity that operates under CySEC license, therefore its proposals may vary according to regulations.
Is GO Markets legit?
Concluding in simple words it means that all tools and applicable set-ups providing 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 understanding the risks and potential benefits.
Generally, risk management 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 clients’ funds through segregation, and also fair conditions that are constantly monitored and audited.
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. European GO Markets clients entitled for a maximum of 1:30 according to regulations.
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 Standard trading proposal based on spread charges and access to 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 that including AUD, USD, GBP, EUR, NXD, SGD.
How to open your Account
At first, you may open a Demo account which will require only to create the login page with 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 money deposit
GO Markets pricing is mainly built into a spreads, 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, GO Plus Account is already a choice for advanced traders or those who’s strategy requires it as spreads from 0.0 pips and trading costs inbuilt in the commission of 3.00$ per side.
|Fees||GO Markets Fees||AvaTrade Fees||XM Fees|
GO Markets spreads as mentioned designed at the account you use, while Standard account will offer slightly higher spread and Plus traders enjoy interbank spread but with commission per trade. For instance, see below a comparison of the Standard spread offering, as well you compare 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.
|Asset/ Pair||GO Markets Spread||AvaTrade Spread||XM Spread|
|EUR USD Spread||1.2 pips||1.3 pips||1.6 pips|
|Crude Oil WTI Spread||1.9 pips||3||5|
|Gold Spread||2.4 pips||40||35|
|BTC USD Spread||20||0.75%||60|
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 to diversify portfolio and trade competitive markets.
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 waved for some fees and are your responsibility, so make sure to check those as well.
The payment options including
- Credit or Debit Card,
- bank to bank through Australian banking institutions,
- BPAY payments,
- e-payments like Skrill, Neteller, POLi
GO markets Minimum deposit
GO Markets minimum deposit amount is 200$ as a beginning which allows you to use full service of live trading and open Standard account.
GO Markets minimum deposit vs other brokers
||Most Other Brokers
GO Markets Withdrawal option use 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.
MT4 is truly considered as a Forex standard for the 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.
So looking at GO markets platform we found its comprehensive and advanced edition, where various versions supported and inbuilt. So you will find Web Trading platform which is great use at any device since does not require installation, yet might be a bit less advanced with the tools.
|Mainstay on MT4||None|
|MT5 set as an option for trading as well|
|Numerous tools in package including MT4 Genesis, trading signals, EAs and more|
|Copy Trade, Social Trading and Technical Indicators|
|No restrictions on strategies|
|Available in various languages|
Desktop Trading Platform
Being the most widely used platform MT4, of course, available and suit versions for Mac and PC, which are definitely a must for advanced or active traders. In 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.
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, the 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.
Lastly, there are special tools alike VPS service are an option you may count on too. Since it brings access to hi-tech trading and run Algos and Expert Advisors remotely and non stop. The existing live account can get a free VPS use if the minimum balance of 3,000$ 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 broker recognized the need for quality service, but of course, not everyone can have one.
However, GO Markets standing ahead in that point too, so you can count on relevant and fast answers from the Customer Support GO Markets. Broker’s team available around the clock and supporting international languages accessible via Live Chat, email, and phone lines in Australia, UK and International as well.
And of course, since the novice traders always passing 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 level 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 strategy at test or see Go markets environment.
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.
Overall, the GO Markets review shows 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 traded with competitive pricing according to each of offered account types that are starting from 0.0 pips.