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...
Is always remain as a first to choose the brokerage firm that suits your trading needs and propose the best solutions to your trading style among other thousands of offers. Therefore, here you can access and read broker reviews with detailed information and select the best broker between offering, and here is GO Markets Review for your consideration.
What is GO Markets?
GO Markets is a launched in 2006 brokerage company operating under the ASIC (Australia) supervisions while fully complies with the local laws, driven by compliance, competitive spreads and tech developments. The brokers through its main headquarter in Australia also maintain offices in the UK and Taiwan while bringing valued trading environment connected to advanced technologies and allow traders to develop strategies and improve trading outcome.
The offering brings a tight spread on the range of more than 90 instruments through CFDs of Forex, Indices and Commodities markets, as well as Binary options and Cryptocurrencies. The Cryptocurrency trade developed by the leverage of 5:1 for Bitcoin and Ethereum with the maximum size of 5 trading and margins of 20%. The Binary trading offering attractive returns between 60-80% potential return with the low commitment from 5$ while 500$ trades accepted on major currency pairs on a 5 minute time.
And of course, since the novice traders always passing through challenges while exploring trading opportunities, GO Markets provide the educational resources necessary to perform seamless trading. Overall, together with the continuous provided support and challenges, there are all opportunities open to perform successful trading of any size trader.
Nevertheless, throughout research and vast of opportunities, you should always check the most important information of the broker’s proposal. In this purpose this review covers the following highlights:
- Is GO Markets safe or a scam?
- Trading Platform
- Trading Fees with conditions that consist of spread and overnight fee
- Leverage and its maximum levels
- Deposits and Withdrawals conditions with a minimum deposit and withdrawal fee
- Conclusion on GO Markets
Is GO Markets safe or a scam?
The first thing to check before continuing broker review is its license and applicable registrations which ensure a safe trading environment. GO Markets is authorized to operate financial services under Australian Financial Services Licence, known worldwide as ASIC. Concluding in simple words it means that all tools and applicable set-ups providing the 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.
GO Markets Trading Platforms
MT4 is truly considered as a Forex standard for the traders around the globe, thus GO Markets chose their mainstay as this technology which actually may vary from the company to another since the broker can implement various extensions as well to provide better features.
The GO Markets platform offers advanced tool features through MT4 Genesis that helps to navigate through global markets as well as computability with automatic trading through EAs and built-in indicators. The platform developed to suit versions on Mac, PC and Mobile devices bringing absolute freedom to trade.
Furthermore, the GO Markets enlarge their offering by adding MetaTrader5 to their proposal too, along with a copy and social trading reachable through myFXbook, a world leading platform with over 90,000 people.
The VPS service is an option you may count on also, which brings access to high-tech trading and run Algos and EAs remotely 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.
GO Markets Fees and Accounts
The broker offers two account types Standard and GO Plus Accounts with the flexibility to manage the trading way and choose the best fit. In addition, the account can be opened in a few different currencies as a base one that including AUD, USD, GBP, EUR, NXD, SGD.
The Standard account defines no commission bases, bringing only spread from 1.1 pips option and is the best match to start with no complications. Further, GO Plus Account is already a choice for advanced traders spreads from 0.0 pips and commission of 3.00$ per side.
GO markets spread
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 One Financial Markets.
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|
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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. GO Markets as Australian broker being authorized by ASIC still allows high leverage ratios up to 1:500 for Forex instruments. Refer to the table below and see how ratios are also spread according to the account size.
GO 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.
GO markets withdrawal fee
The payment options including Credit or Debit Card, bank to bank through Australian banking institutions, BPAY payments, and e-payments like Skrill, Neteller, POLi.
GO markets minimum deposit
And the last point we didn’t cover is a minimum deposit amount. GO Markes set 200$ as a beginning which allows you to use full service of live trading and open Standard account.
Conclusion on GO Markets
Overall, the GO Markets review shows a broker which performs a straight trading process with numerous offered benefits. One of the main attractions is a comprehensive range of trading instruments, even with Binary options and Cryptocurrencies, all traded with competitive pricing according to each of offered account types that are starting from 0.0 pips.
Furthermore, the mainstay at well-known MT4 enhanced with powerful technical tools by the GO Markets for a free use allowing traders of any style and budget find a way to engage, as well as through Social trading environment.
Nevertheless, we would be happy to know your personal opinion about GO Markets, share your personal experience or if none refer to us for some additional information on the comment area below.