Go Markets

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Popularity top broker
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
Copy Trading
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

Pros
  • Robust regulation by multiple authorities
  • Wide range of trading assets
  • Competitive spreads
  • Supports both MT4 and MT5 platforms
  • No deposit or withdrawal fees
Cons
  • 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.

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Regulatory 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 (EA) 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.

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Spreads, 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.com

User Reviews

“I’ve been trading with Go Markets for over a year now, and I’m quite pleased with the experience. The platform is stable, and their spreads are among the best I’ve seen. However, I do wish they offered more educational resources, especially for us beginners.”
Emily Smith
“As a seasoned trader, what I value most about Go Markets is their regulatory standing and the breadth of assets available for trading. Their customer service has been helpful whenever I’ve needed it, and withdrawals are processed quickly. Highly recommend!”
James Johnson
“I appreciate the no deposit and withdrawal fees policy, making it easier to manage my funds. The mobile app is also quite handy for trading on the go. That said, the inactivity fee is a bit of a downside for infrequent traders like myself.”
Ava Taylor
“The low spreads and leverage options have allowed me to maximize my trading strategies. I’ve found their platform to be reliable and user-friendly. My only gripe would be the lack of support for ZuluTrade, which I was excited to use.”
Lucas Brown
“Go Markets has been my go-to broker for forex and indices trading. The execution speeds are fast, and I’ve never faced any slippage. The educational gap is noticeable, but the overall trading environment makes up for it.”
Mia Wilson

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

      Our experts

      This article has been written, edited and reviewed by the following members of our team:

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      Feng Zhou

      Feng Zhou, a seasoned author and financial expert, boasts a diverse portfolio of articles recognized by prestigious publications such as Bloomberg, Global Asia, and BizLeaders. Graduating from the University of Hong Kong marked the inception of Mr. Zhou's journey into the financial sector. Initially delving into financial statement audits for both publicly traded and privately held clients, he honed his skills before furthering his education at Hong Kong Polytechnic University. During his tenure, Feng Zhou contributed significantly to the valuation of privately held businesses, engaged in forensic accounting, and provided litigation-related services. His professional trajectory also includes valuable experience at Nezu Asia Capital Management, a prominent hedge fund giant. Demonstrating entrepreneurial spirit, Feng Zhou founded a financial asset management company and frequently shares his expertise as a guest lecturer at various Chinese MBA programs. His prolific writing extends beyond traditional platforms, with articles featured in a range of industry events and publications, including FoxTrade, The MoneyShow, London Summit, and iFX EXPO. With a keen eye for market trends and a wealth of experience, Feng Zhou continues to be a prominent voice in the financial landscape.

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      Sandro Pontedra

      Sandro Pontedra is the mastermind behind the insightful financial analysis and educational content that FoxTrade readers have come to rely on. With a rich academic background from Università di Bologna and the University of Milan, Sandro has built a career that spans across private wealth management and financial analysis, culminating in his role as Chief Accounting Officer for a prominent firm. An avid trader with over a decade of experience in the markets, Sandro combines his hands-on trading knowledge with a keen analytical mind, offering FoxTrade readers a unique blend of practical advice and in-depth market insights. His work, recognized by major financial publications, reflects his passion for finance and commitment to demystifying complex financial concepts. Sandro is dedicated to empowering readers with the knowledge and tools needed to navigate the financial markets confidently. Whether you're a seasoned investor or new to trading, his articles provide valuable insights into investment strategies, market analysis, and the future of finance and technology.

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      Stephane Dubois

      Stephane Dubois stands at the forefront of financial analysis and industry expertise, driving innovation and insight across global markets. With a diverse academic background in International Relations and World Economy, coupled with practical experience spanning government projects and private sector endeavors across five continents, Stephane brings a wealth of knowledge and perspective to his role. As a senior editor at FoxTrade, Stephane oversees the publication of insightful content, ensuring that readers receive accurate and timely analysis to navigate the complexities of the financial world. His leadership and editorial guidance have been instrumental in shaping the platform into a trusted source of information for investors and traders alike. Beyond his editorial responsibilities, Stephane is revered as a leading analyst in the online broker industry. His insights have been instrumental in shaping strategies and decision-making for executives worldwide. Stephane's expertise isn't confined to the boardroom; he is also an esteemed business school professor, with an MBA from Columbia University and prior experience at Goldman Sachs. Stephane's impact extends beyond the confines of academia and corporate settings. He has spoken and moderated panels at prestigious events globally, earning citations from esteemed publications such as Finance Monthly, The Journal of Finance, and Financial Analysts Journal. His contributions to industry discussions cover a wide array of topics, from forex strategies to stock market catalysts, earning him recognition as a thought leader in the financial world.

      Last update: June 4, 2024