Go Markets
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Popularity | |
Leverage | Up to 1:500 |
Minimum Deposit | $200 |
Regulation | ASIC, CySEC |
Payment Methods | Credit Card, Bank Transfer, PayPal, Neteller, Skrill |
Trading Assets | Forex, Indices, Commodities, Cryptocurrencies, Shares |
MT4 | ✅ |
MT5 | ✅ |
Spreads | Low |
Average cost: EUR/USD | 1.2 pips |
Demo Account | ✅ |
Islamic Account | ✅ |
MAM | ✅ |
PAMM | ✅ |
CopyTrading | ✅ |
ZuluTrade | ❌ |
Scalping | Yes |
Signals | ✅ |
EAs/Robots | Available |
Negative Balance Protection | Yes |
Deposit Fee | ❌ |
Withdrawal Fee | ❌ |
Inactivity Fee | $15 after 12 months of inactivity |
Year Established | 2006 |
Address | Level 22, 600 Bourke Street, Melbourne, VIC 3000, Australia |
Contact Information | Email: [email protected], Phone: +61 3 8566 7680 |
Mobile Trading APP | |
Rating | ★★★★☆ 4.7 |
Website |
Pros and Cons
- Robust regulation by multiple authorities
- Wide range of trading assets
- Competitive spreads
- Supports both MT4 and MT5 platforms
- No deposit or withdrawal fees
- Limited educational resources for beginners
- No support for ZuluTrade
- Inactivity fee after 12 months
- Scalping and hedging restrictions may apply
- Customer support could be more responsive
Introduction
Go Markets is widely regarded as one of the pioneering brokers in the online Forex trading industry.
Established in 2006, it has grown to offer a broad range of financial products, not just in Forex but also in indices, commodities, cryptocurrencies, and shares.
This review aims to dissect every aspect of the broker, from its regulatory framework to its trading platforms, account types, fees, customer service, and more.
Whether you’re a novice trader or a seasoned investor, understanding what brings to the table can help you decide if it’s the right broker for your trading journey.
Open a free accountRegulatory and Security Framework
Regulatory Bodies
Go Markets is a global entity regulated by several top-tier financial authorities, ensuring a high level of trustworthiness and security.
These regulatory bodies include:
- Australian Securities and Investments Commission (ASIC)
- Cyprus Securities and Exchange Commission (CySEC)
These regulations ensure that the company adheres to strict standards of operation, including client fund segregation, financial reporting, and transparent trading practices.
Security Measures
In terms of security, it employs state-of-the-art measures to protect clients’ funds and personal information.
This includes SSL encryption across its platforms and adherence to stringent data protection laws.
Trading Platforms and Tools
Go Markets offers access to the most popular and powerful trading platforms in the industry: MetaTrader 4 (MT4) and MetaTrader 5 (MT5).
MetaTrader 4 (MT4)
- User-friendly Interface: Ideal for beginners and experienced traders alike.
- Advanced Charting Tools: Offers numerous charting tools and technical indicators.
- Automated Trading: Supports the use of Expert Advisors (EAs) for automated trading strategies.
MetaTrader 5 (MT5)
- Enhanced Trading Tools: More technical indicators, charting tools, and timeframes compared to MT4.
- Economic Calendar: Integrated directly into the platform.
- Depth of Market: Displays real-time market depth information.
Additionally, Go Markets provides various tools and resources to support trading decisions, including economic calendars, market news, and analysis.
Account Types and Specifications
Go Markets caters to a diverse clientele by offering different types of trading accounts, each designed to meet the specific needs and preferences of its users.
Here’s a brief overview:
- Standard Account: Suitable for beginners, offering competitive spreads without commissions.
- Pro Account: Designed for experienced traders, providing tighter spreads with a commission per trade.
Both accounts provide access to leverage up to 1:500, micro lot trading, and a demo account option for practice trading.
Get a 50% BonusSpreads, Fees, and Commissions
An important aspect of choosing a broker is understanding the costs associated with trading.
The broker maintains transparency with its pricing structure, ensuring traders can manage their trading costs effectively.
- Spreads: Starts from as low as 1.2 pips for major currency pairs.
- Commissions: Only applicable to the Pro Account, starting at $3.50 per side per 100,000 traded.
- No Deposit or Withdrawal Fees: The company does not charge any fees for deposits or withdrawals.
Customer Service and Support
Accessibility and Responsiveness
Go Markets prides itself on providing exceptional customer service.
Traders can access support through:
- Live Chat: For immediate assistance.
- Email: For detailed inquiries.
- Phone Support: Direct line to customer service representatives.
Educational Resources
While the company offers an array of educational resources, including webinars, e-books, and articles, it’s worth noting that the broker could further expand its offerings, especially for novice traders seeking comprehensive educational materials.
Deposit and Withdrawal Methods
Flexibility in funding and withdrawing from your trading account is crucial.
Go Markets accepts several methods:
- Credit/Debit Cards
- Bank Transfers
- E-Wallets: Including PayPal, Neteller, and Skrill
Withdrawal requests are processed quickly, typically within 24 hours, ensuring traders can access their funds promptly.
Trading Instruments
Go Markets offers a diversified portfolio of trading instruments, ensuring that traders have access to a wide range of markets.
The key categories include:
- Forex: Access to major, minor, and exotic currency pairs with competitive spreads.
- Indices: Trade on the world’s leading stock indices, offering exposure to global equity markets.
- Commodities: Includes precious metals like gold and silver, energy commodities such as oil and natural gas, and agricultural products.
- Cryptocurrencies: Go Markets provides the opportunity to trade on popular cryptocurrencies, including Bitcoin, Ethereum, and Litecoin.
- Shares: Traders can also invest in shares from leading companies across the globe, taking advantage of market movements.
Table: Trading Instruments Overview
Instrument Category |
Examples |
Spreads Starting From |
Forex |
EUR/USD, GBP/JPY |
1.2 pips |
Indices |
S&P 500, FTSE 100 |
0.4 |
Commodities |
Gold, Brent Oil |
0.3 |
Cryptocurrencies |
Bitcoin, Ethereum |
Variable |
Shares |
Apple Inc., Tesla Inc |
0.1% |
This diversity allows traders to diversify their portfolios and take advantage of various market conditions.
Leverage and Margin Requirements
Leverage is a powerful tool that allows traders to open positions larger than their initial investment.
Go Markets offers leverage up to 1:500 for certain instruments, which can significantly amplify both potential profits and losses.
It’s crucial for traders to understand and manage leverage wisely to mitigate risk.
Margin requirements vary depending on the account type, instrument, and market conditions.
The company provides detailed information on margin requirements on its platform, ensuring traders can make informed decisions.
Risk Management Features
Go Markets incorporates several risk management features to help traders protect their investments.
These include:
- Stop Loss Orders: To limit potential losses by closing a position at a predetermined price.
- Take Profit Orders: To secure profits by automatically closing a position once it reaches a certain profit level.
- Negative Balance Protection: Ensures clients cannot lose more than their account balance, protecting against adverse market movements.
These tools are essential for maintaining control over trading outcomes and managing risk effectively.
Educational and Analytical Resources
While they have a range of educational resources, it continues to expand its offerings to support trader education further.
Current resources include:
- Webinars: Live sessions covering various trading topics and strategies.
- E-books and Articles: Comprehensive guides and articles on forex trading, technical analysis, and more.
- Market Analysis: Regular market insights and analysis provided by industry experts.
Educational resources are designed for traders of all levels, from beginners to advanced, and are crucial for informed trading.
Customer Experience and Feedback
User Testimonials
Customer feedback highlights their strengths and areas for improvement.
Positive reviews frequently mention:
- Reliable Execution: Fast and reliable trade execution with minimal slippage.
- Customer Support: Accessible and helpful customer support team.
- Competitive Spreads: Low spreads and cost-effective trading.
Areas for improvement include:
- Mobile App Enhancements: Some users suggest improvements to the mobile trading app for a more seamless experience.
- Expanded Educational Offerings: A greater variety of educational materials for beginner traders.
Community and Support
Go Markets has established a supportive community where traders can share experiences, strategies, and tips.
The broker also offers dedicated customer support through various channels, ensuring traders can receive assistance when needed.
Conclusion
Go Markets stands out as a reliable and competitive broker in the Forex and CFD trading space.
With robust regulatory oversight, a wide range of trading instruments, advanced trading platforms, and a commitment to trader education, it offers a comprehensive trading environment suited to various trader needs and preferences.
While there are areas for enhancement, particularly in expanding educational resources and refining the mobile trading experience, the broker continues to evolve in response to client feedback.
Its dedication to providing a secure, transparent, and enriching trading experience makes it a worthy consideration for traders seeking a dependable brokerage partner.
As the trading landscape evolves, Go Markets is well-positioned to grow alongside its clients, offering innovative solutions, competitive trading conditions, and unwavering support.
Whether you’re just starting out or looking to diversify your trading portfolio, Go Markets offers the tools, resources, and environment to help you achieve your trading goals.
Visit official website: www.gomarkets.comUser Reviews
Video Review
Frequently Asked Questions (FAQ)
What is the minimum deposit?
The minimum deposit is $200, making it accessible for both novice and experienced traders.
Does it offer a demo account?
Yes, Go Markets offers a demo account for traders who want to practice their strategies without risking real money.
Are there any fees for deposits and withdrawals?
No, the broker does not charge any fees for deposits or withdrawals, providing a cost-effective trading experience for its users.
What trading platforms does Go Markets support?
This broker supports both MT4 and MT5 trading platforms, offering flexibility and advanced tools for traders.
Is scalping allowed?
Yes, scalping is allowed, although traders should review the broker's terms and conditions for any restrictions.
Does Go Markets offer negative balance protection?
Yes, Go Markets offers negative balance protection, ensuring traders cannot lose more than their account balance.
Can I trade cryptocurrencies?
Yes, Go Markets offers cryptocurrency trading, allowing traders to speculate on the price movements of popular digital currencies.
Resources
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This article has been written, edited and reviewed by the following members of our team:
Last update: April 27, 2024