What’s GO Markets?
GO Markets was founded in 2006 as a brokerage company operating under the supervision of ASIC (Australia) in full compliance with local regulations, guided by demand, competitive spreads, and technical advances.
Where is GO Markets based?
The broker has its headquarters in Australia, also has offices in the United Kingdom, Taiwan, and Hong Kong. At the same time offering a trusted trading climate linked to advanced technology and allows traders to develop strategies and enhance trading outcomes.
Go Markets along with its continuous help, pledges, and challenges great opportunities available to any size trader for good trading results. So let’s get a closer look at what’s so rewarding and good about Go Markets’ proposal.
| Pros | Cons |
|---|---|
| In the game for years | Swap-free account only available for MENA residents |
| Globally recognized and multiple-awards broker | |
| Platforms MT4 and MT5 offered | |
| Copy Trading and Social Trading capabilities | |
| Excellent support, learning and research tools |
Is GO Markets safe or a scam?
The first thing to test before continuing the analysis of the Go Markets broker is its license and registrations, which ensure a secure trading climate. GO Markets is allowed to operate financial services under the Australian Financial Services License, known worldwide as the ASIC.
| Pros | Cons |
|---|---|
| Regulated broker with good record and history of operation | None |
| ASIC license and overseeing | |
| Negative balance protection | |
| Global expansion |
All tools and relevant set-ups that include a secure trading atmosphere are in compliance with regulatory requirements and various audit laws. GO Markets, as an OTC derivative provider, is expected to adhere to the disclosure standards set by the ASIC company while, while investors recognize the risks and potential benefits.
Australian Securities & Investments Commissions. Reproduces with permission.
Protection of Investors
Typically, risk management is established through a variety of practices, including hedging counterparties and customer fund segregation at the National Australian Bank (NAB), along with margin calls and fair use policies. As a fully regulated financial trading provider, GO Markets is committed to strict security of clients’ funds by segregation, and to fair conditions regularly monitored and audited by the authority.
Leverage
Another nice feature when trading Forex is a leverage allowance, which may theoretically increase your earnings in a timely manner. In order to minimize the risks that function in both ways, it is necessary to learn how to use leverage smartly.
What’s the max leverage in GO Markets?
GO Markets, as an Australian broker approved by ASIC, still allows high leverage ratios of up to 1:500 for Forex instruments. Please refer to the table below and see how the percentages are also multiplied by the scale of the account.
Account Opening
The account opening form which you will have access to your trading account, money management, fee reports and other resources all featured GO Markets account area that you can open via a seamless, fully digital sign-in.
| Pros | Cons |
|---|---|
| Fast account opening | None |
| Easy switch between Demo and Live Accounts | |
| Standard and GO Plus+ ECN Account | |
| Range of Account base currencies |
Account Types
The broker offers two account types, Standard and GO Plus Accounts, with the flexibility to handle the trading method and to choose the best fit. There is a choice between a standard trading proposal based on spread charges and exposure to a true ECN environment through GO Plus+ specifically designed by means of light-fast technology.
In addition, the account can be opened in a number of different currencies, including AUD, USD, GBP, EUR, NXD, SGD.
How to Open an Account
Opening a Demo account first will allow you to build a login page with an email address and a password. Further on, if you want to go live, follow the next steps:
- Enter all parameters, including name, e-mail, phone, etc.
- Choose the type of account and the basic currency
- Specify your company experience and expectations
- Upload proof of address, name, etc. (due to regulatory requirements)
- Submit
Once your account has been approved, follow with your money deposit.
Fees
The Standard account does not identify any commission bases, offering spread based only on the 1.1-pips option and is the best match to start trading without any complications.
The GO Plus account is an option for advanced traders or those whose strategy requires it as spreads from 0.0 pips and trading costs included in the fee of $3.00 per hand.
| Pros | Cons |
|---|---|
| Available options between only spread account or commission charge through GO Plus+ ECN Account | None |
| Low CFD fees | |
| Good standard account spreads | |
| No hidden costs |
Spread
GO Markets spreads as specified in the account, while the Standard Account will give a slightly higher spread and the Plus traders will receive an interbank spread but with commission per transaction. See below, for example, a comparison of the Standard spread offering and fees with other brokers.
Always recognize the overnight fee as an expense, a.k.a. the Rollover rate or the interest in holding positions open overnight.
Comparison of rates for GO Markets and similar brokers
| Asset/ Pair | GO Markets Fees | AvaTrade Fees | XM Fees |
|---|---|---|---|
| EUR USD | 1.2 pips | 1.3 pips | 1.6 pips |
| Crude Oil WTI | 1.9 pips | 3 | 5 |
| Gold | 1.4 pips | 40 | 35 |
| BTC USD | 20 | 0.75% | 60 |
| Inactivity fee | Yes | Yes | Yes |
| Deposit fee | No | No | No |
| Fee ranking | Low | Average | High |
Trade Instruments
The offering of instruments is based on a range of more than 350+ instruments across Forex CFDs, Indices and Commodities Markets, Binary Options and Cryptocurrencies. While each instrument has its own requirements and trading conditions, we appreciate the selection offered as it allows diversified portfolios and trading competitive markets.
Overall, Cryptocurrency trade developed with leverage of 5:1 for Bitcoin and Ethereum with a maximum trading size of 5 and a margin of 20 percent. Binary trading, which is luckily available on the Go markets to deliver attractive returns between 60-80 percent potential returns with a small commitment of $5 while $500 trades accepted major currency pairs at a time of 5 minutes.
Deposits and Withdrawals
Deposits to a live trading account can be made in a number of convenient ways, though payments will not attract additional processing fees. GO Markets does not charge any internal withdrawal fees. However, withdrawals to non-Australian banking institutions may be waived for certain fees and are your responsibility, so be sure to check them as well.
| Pros | Cons |
|---|---|
| Fast digital deposits | None |
| No internal deposit fees or withdrawal fees | |
| Multiple account base currencies |
Tools for Deposit
Payment options include:
- Credit card or debit card,
- Bank to bank via Australian banking institutions
- Payment via BPAY
- E-payments such as Skrill, Neteller, POLi
Minimum deposit
And the last thing we didn’t cover is the minimum amount of the deposit. GO Markets set $200 as a start that allows you to use full live trading service and open a Standard Account.
Withdrawal
In the same way, you can use the same methods for funds withdrawal but still check with the customer service what method is appropriate to you according to your own residence and the policies or rules there.
How long is it going to take to withdraw money from GO Markets?
Withdrawal of money is not a complicated process. In fact, all money management happens right from your online account, where withdrawal requests can be made at any time. GO Markets, as a controlled broker processes withdrawals within 1-2 business days, provides additional time for your payment provider or other procedures.
Platforms for Trading
MT4 is considered a Forex standard for traders worldwide, and GO Markets has chosen their mainstay as this tool. But in reality, MT4 can differ from one business to another as the broker can implement various extensions and provide better features.
Web Trading
But looking at the GO Markets platform, we found a comprehensive and advanced edition, where different versions were sponsored and developed. So you’ll find a Web Trading platform that’s nice to use on any computer since it doesn’t need installation but might have less sophisticated tools.
| Pros | Cons |
|---|---|
| Mainstay on MT4 | None |
| MT5 set as an option for trading as well | |
| Numerous tools in the package including MT4 Genesis, trading signals, EAs and more | |
| Copy Trade, Social Trading and Technical Indicators | |
| No restrictions on strategies | |
| Available in various languages |
Platform for Desktop Trading
The most commonly used MT4 platform is available and suitable for Mac and PC models, which are certainly a must for experienced or active traders. In the GO Markets Desktop Platform, you can enjoy full capabilities and great versatility, along with a fantastic GO Markets package that includes advanced tools like MT4 Genesis. It helps to manage global markets and be computed with automated trading by expert advisors and various built-in indicators.
Look and Feel
Being a great platform for all levels of traders, MT4 is an outstanding charting program where parameters or drawing items are of a very high level. In addition to 3 types of charts and display options, the look itself is clean and comfortable.
In addition, GO Markets are increasing their offering by adding MetaTrader5, which is a newer and more sophisticated variant of MT4. So if you prefer this app, go ahead, along with copy and social trading tools that can be accessed via myFXbook, a world-leading site with more than 90,000 people that can be replicated or copied by business professionals to the advantage of both.
The Mobile Trade Platform
All platforms feature a mobile trading app, so you can use mobile devices that give you absolute freedom to trade. The MT4 and MT5 systems include Go Markets mobile platforms, and their streamlined models, all connected to a single account.
Tools
Finally, there are special tools like the VPS service, which are an option that you can also rely on. Since it gives access to hi-tech trading, Algos and Expert Advisors can operate remotely and without stopping. An active live account will be used free of charge if the minimum balance of $3,000 is maintained, or a service fee of $30 a month will be charged.
Customer Support Services
So again, Go Markets Customer Service was ranked #1, in addition to the awards it won in other respects. Successful brokers have acknowledged the need for quality service, but not everyone can have one.
Nevertheless, GO Markets is also ahead in this regard, so you can count on the appropriate and fast answers from GO Markets Customer Support. The broker’s team is available around the clock and supports international languages that can be accessed through Live Chat, email, and phone lines in Australia, the UK and globally, too.
| Pros | Cons |
|---|---|
| 24/5 support | No 24/7 client support |
| Quick response and Relevant answers | |
| Live Chat, International Phone Lines and email | |
| Well-recognized customer care service |
Training and Education
And of course, given that novice traders are always facing major challenges when exploring trading opportunities, GO Markets provides the educational materials and research tools needed to conduct seamless trading. GO Markets Education Programs and its GO Markets Academy are numerous award-winning materials that are identified by all levels of traders and available for free use.
So at the GO Markets Academy and Education Centre, you can find Forex trading lessons, video tutorials, tutorials and workshops and webinars in different languages. Furthermore, the Demo Account is offered for free use with no limitations where beginners can check the strategy or see the Go Markets setting.
| Pros | Cons |
|---|---|
| Education provided for free | None |
| Awarded programs | |
| Free trading signals and research tools | |
| Social trading and trading ideas | |
| Webinars and video lessons | |
| Market outlook | |
| Autochartist, Trading Central, MT4 Genesis included |
Research
As for the Research Tools, in addition to the very comprehensive research built into the Metatrader 4 framework, Go Markets also cooperates with Autochartist and Trading Central providers so that you can use its free trading signals and ideas for your benefit. In addition, there are thousands of MetaTrader4 & 5 Add-ons left in your suite that are defined by the instrument and stated parameters, where you can also use the great MT4 Genesis tool.
Conclusion
Overall, the GO Markets review shows a broker conducting a straight-line trading process with various offered incentives and indeed a vast amount of excellent rewards earned either from industry publishers or from global traders.
One of the main attractions is a wide range of trading instruments, including binary options and recent trends with a bunch of cryptocurrencies, while all instruments are exchanged with competitive pricing for each of the provided account types beginning at 0.0 pips.
In addition, the mainstay of the well-known MT4 broker enhanced the proposal with strong, free-to-use technical tools, enabling traders of any style and budget to find a way to participate, as well as through the social trading environment. All in all, we strongly believe that GO Markets, together with its strong adherence to the regulation, does indeed make very good trading proposals appropriate for both beginners and professionals.
