WHO IS GO MARKETS?
GO Markets has successfully provided trading solutions as an FSC regulated, customer-centric brokerage for over 14 years, with offices located in London, Hong Kong, Australia, Melbourne and Taiwan.
GO Markets proudly holds the reputation of being the first Australian MT4 brokerage. They also offer access to MT5 and have developed an exceptional web platform, along with a mobile trading application.
The GO Markets team understands the importance of excellent customer service and they prioritize the stability and security of their platforms.
There are no hidden costs and server performance is designed to exceed expectations so that clients have a seamless trading experience.
This award-winning brokerage offers commission-based and spread-based trading accounts with more than 350 options for trading instruments and CFD trading.
Aspiring and experienced traders are given an opportunity to experiment with their demo-accounts, explore their vast library of educational content, learn more about using popular trading tools and read market news updates or view economic calendars.
The advantage of trading with GO Markets is their unlimited referral system, which earns clients $100 per referral.
|Time to open an account||Immediate, 1 day for verification|
|Publicly traded – listed on stock exchange||No|
|Country of regulation||FSC, ASIC|
|Trust score||4.6 out of 5|
|Mobile App||iPhone, iPad, Android|
|Base currencies||AUD, USD, EUR, GBP, NZD, CAD, SGD, CHF, HKD|
|Ave spread EUR/USD||From 0.0 pips|
|Leverage||Up to 500:1|
|Trading fees (low, average, high)||Low|
|Deposit with electronic wallet||Yes|
IS GO MARKETS SAFE?
GO Markets complies with stringent regulatory standards and is fully compliant and licensed with the following regulatory body:
- Australian Securities and Investment Commission (ASIC)
- Financial Services Commission of Mauritius (FSC)
Client funds are held in segregated, secured accounts at Top-tier Australian financial institutions. This ensures that the company cannot access client funds for business expenses or classify the value of client funds as a company asset.
GO MARKETS REVIEW OF PRO AND CONS
|Over 10,000 active traders||Limited selection of instruments|
|Compliant with ASIC||Not regulated by FCA|
|Minimum deposit of $1USD||Access denied to over 20 countries|
|Scalping tools||Only 2 account types available|
|Hedging tools||Only MENA citizens get swap-free|
|2-3 days to process withdrawals and deposits|
GO Markets offers a 1% leverage rate of 100:1 for all clients, but you can choose to trade without leverage (1:1) or trade with a leverage rate of up to 500:1.
Both the standard account and the Go Plus account offer a maximum leverage rate of 500:1, but it is important to make sure that you understand the potential financial risks of using leverage before making any commitments.
The benefit of leveraging your trading activity is that you can enter bigger markets and gain more exposure by making a significantly bigger initial deposit to fund your trading.
It is also important to consider whether you can afford to cover the marginal difference requirements for the credit risks that come with leveraged trading. This means that you will always need to have a certain percentage of the position funds as funding in your trading account.
Another important consideration of using leverage is that certain currencies, such as exotic currencies, will have higher margin rates regardless of the leverage options you choose and you will need to include this in your trading budget.
GO Markets accepts traders from Sweden, Australia, Thailand, Denmark, Singapore, United Kingdom, South Africa, Hong Kong, United Arab Emirates, India, France, Germany, Norway, Italy, Saudi Arabia and most other countries.
Traders cannot access GO Markets from Afghanistan, Canada, Egypt, Japan, New Zealand, Korea, Pakistan, Ukraine, the United States and about 10 other countries.
GO Markets offers the following accounts:
- Standard account – requires a $200AUD minimum deposit, supports 9 base currencies (AUD, USD, EUR, GBP, NZD, CAD, SGD, CHF, HKD), offers 50+ currency pairs and leverage up to 500:1, with pips starting at 1.0
- GO Plus account – requires a $200AUD minimum deposit, supports 9 base currencies (AUD, USD, EUR, GBP, NZD, CAD, SGD, CHF, HKD), offers 50+ currency pairs and leverage up to 500:1 with $3AUD commission charged per side and pips starting at 0.0
The GO Markets product offering includes over 350 instruments, including more than 50 Forex currencies, commodities, indices, precious metals and Share CFDs, all of which can be traded in global markets.
Forex trading is available 24hours a day, with tight spreads, 50+ currency pairs to choose from and the option to use a maximum of 500:1 leverage on the chosen currencies.
Share CFD trading opportunities include more than 200+ ASX shares, more than 80 US shares and a maximum leverage rate of 20:1.
With indices trading, you can access popular stock markets and trade without actually buying assets. There is a maximum leverage rate of 100:1 and you can make long or short trades in popular markets, including ASX 200, CAC 40, US 500 and FTSE 100.
Cryptocurrencies can also be traded with on GO Markets and include popular assets, such as Ethereum, Ripple, Bitcoin, Bitcoin Cash and Litecoin.
You can also trade seamlessly with precious metals and valuable commodities while enjoying low trading costs and superior platform performance.
Despite GO Markets’ competitive costing, your regional banking fees and regulatory requirements may influence the pricing structure of fees that will be charged to your account.
No commission fees are charged on Standard accounts and withdrawals and deposits are free unless they are made from or to banks outside of Australia.
There is a $3AUD commission fee charged per side when using the GO Plus account, and swap rates apply when holding positions overnight.
No internal fees are charged on deposits when using Visa/Mastercard, Neteller, Skrill or Bank Transfer.
DEPOSIT AND WITHDRAWAL
GO Markets prioritizes customer convenience and the design of their platform allows you to access all banking features directly from the Client Portal.
You can use the built-in portal to transfer funds from one account to another and make deposits and withdrawals securely and without hassle. All withdrawals and deposits are usually processed within one day.
Deposits can be made using credit cards, PayPal, UnionPay and Bank Transfer, using any of the supported base currencies (AUD, USD, EUR, GBP, NZD, CAD, SGD, CHF, HKD).
GO Markets does not allow cash payments or third-party payments and they adhere to strict third-party transaction regulations.
GO Markets offers many great platforms to traders:
- MetaTrader 4 – a popular trading platform with advanced charting and analysis tools
- MetaTrader 5 – an updated version of MT4
- Web Trading – Trade directly from the website without download software
- Desktop Trading – Download the software to trade from the comfort of your desktop
- Mobile Trading – fully functional app for Android and IOS devices
There are plenty of popular trading tools to use on the GO Markets platform. These include:
- MT4/MT5 Genesis – a MetaTrader tool suite that enhances your trading experience with innovative tools for Forex, commodities and indices.
- Autochartist – a tool with advanced pattern recognition and technical analysis capabilities that alerts traders when there are favourable opportunities, based on support and resistance levels in the markets.
- Myfxbook – commonly used for CopyTrading, when traders would like to experiment with mimicking the moves and strategies of advanced traders.
- Trading Central – a multi-lingual Fintech program that combines analytical research and analyses with 24hour multi-asset coverage and strategic support systems.
- GO Markets VPS (MT4/MT5) – improves the efficiency and execution speeds of trades by using Expert Advisors (EAs), which automates trading by telling you when to trade or doing trades for you.
- a-Quant – AI that uses data and machine learning to calculate complex algorithms for the calculation of trading probabilities.
HOW TO OPEN AN ACCOUNT
Creating a GO Markets account is easy and involves the following steps:
- Visit the website and select “Open an account”
- Fill in all your personal details
- Select the XM entity you wish to trade with as well as your trading platform
- Supply documentation confirming identification and citizenship
- Answer some personal preference questions about trading aims and trading experience
- Accept terms and conditions and create a password
- Download and install the trading platform
- Begin your trading journey!
Choosing the right Forex broker means choosing a broker that understands your needs as a trader, with the ability to support you and guide you on your journey to trading successfully.
GO Markets offers multi-lingual support via email, live chat and telephone. They offer assistance 24 hours a day, 5 days a week and they usually respond within 5 minutes on live chat.
They have also developed an innovative QuickSupport application, which can be used for remote assistance by temporarily giving support staff access to your computer using TeamViewer if you are struggling to find a solution specific to your issue.
GO Markets provides all the educational resources you need to learn how to trade and may also offer some new insight into trading strategies and tools for more experienced traders.
Their GO Trade Academy offers webinars and comprehensive trading courses that will teach traders how to trade with Forex and CFDs.
They also have tutorials on using MT4 and the Inner Circle program provides weekly updates and market reviews to coach active traders who want to be part of a trading community.
New traders can also use demo-accounts to learn how to trade, along with a variety of analysis and automation tools that will contribute to trading with ease and confidence.
GO Markets encourages traders to sign up for their newsletter and daily updates about market news, to ensure that they make informed decisions and trade responsibly.
There is a description of each tool and platform available on the website, and an impressive library of educational content that can be used for research and understanding.
It is important to understand what your trading goals are and to research the markets and instruments you intend on using, before making any real investments.
There is plenty of research available online, but GO Markets offers training programs for traders with all levels of experience and specifically caters to traders who may be interested in CFD trading, CopyTrading and using MetaTrader tools and features.
They also offer a downloadable Forex Smart Guide that explains Forex trading and CFDs in greater detail.
GO Markets has received the following awards since its inception:
- 2019 – Best Customer Service, awarded by Investment Trends
- 2019 – Best Educational materials/programs, awarded by Investment Trends
- 2020 – Best Customer Service, awarded by Investment Trends
- 2020 – Best non-commission Forex Account, awarded by Compare Forex Brokers
- 2020 – Best Educational materials/programs, awarded by Investment Trends
This regulated brokerage is also an attractive option for traders who dare to experiment with higher leverages and advanced trading tools. They have consistently upgraded and developed their platforms over the years and remain one of the leading Australian MetaTrader brokerages around today.
Despite access being restricted for some countries, they commit to providing updated, relevant news daily and offer a variety of training programs for novice and expert traders alike.
GO Markets has a competitive product offering and they focus on keeping their clients happy at all times by providing reliable support and an incredible selection of superior trading tools to experiment with, ensuring that each trader has a fair opportunity to trade in global markets with the latest technologies and innovative software.