Go Markets

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Leverage 1:500
Minimum Deposit $200
Regulation ASIC, CySEC
Year Established 2006
Payment Methods Bank Transfer, Credit/Debit Cards, PayPal, Skrill, Neteller
Trading Assets Forex, Indices, Shares, Commodities, Cryptocurrencies
MT4
MT5
Spreads Very low
Average cost: EUR/USD 0.3 pips
Demo Account
Islamic Account
CopyTrading
ZuluTrade
Scalping Yes
Signals
EAs/Robots Available
Negative Balance Protection Yes
Deposit Fee
Withdrawal Fee
Contact Information Email: [email protected], Phone: +61 3 8566 7680
Address Level 16, 114 William Street, Melbourne VIC 3000, Australia
Rating ★★★★☆ 4.5
Website

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Pros and Cons

Pros
  • Extremely competitive spreads
  • Wide selection of trading platforms
  • Flexible account types with low minimum deposit
  • Prompt and effective customer support
  • Comprehensive education resources
Cons
  • Limited social trading features
  • Relatively high inactivity fee
  • Not suitable for U.S. clients
  • No ZuluTrade integration
  • Customer support not available 24/7

Introduction

Go Markets is a distinguished broker, recognized for its high-quality services in the world of forex and CFD trading.

Established in 2006 and headquartered in Melbourne, Australia, the broker has gained a solid reputation for providing traders with reliable trading conditions, competitive fees, and extensive resources.

With regulation by the Australian Securities and Investments Commission (ASIC) and Cyprus Securities and Exchange Commission (CySEC), the company ensures a safe and transparent trading environment.

This review offers a profound analysis of the broker, exploring its regulatory compliance, trading platforms, financial instruments, fees, customer support, and educational resources.

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Regulatory Compliance and Security

Regulatory Bodies

Go Markets is regulated by two leading financial authorities:

  1. Australian Securities and Investments Commission (ASIC): Holding an Australian Financial Services License (AFSL), the company strictly adheres to the high standards set by ASIC. This includes transparency in operations, maintaining segregated client accounts, and following anti-money laundering (AML) guidelines.
  2. Cyprus Securities and Exchange Commission (CySEC): To serve European clients, the broker holds a license with CySEC, ensuring compliance with EU regulations, particularly the Markets in Financial Instruments Directive (MiFID II). This enables passporting across the European Economic Area (EEA), providing EU-based traders with a regulated trading environment.

Client Fund Security

The company prioritizes client fund security by maintaining:

  • Segregated Accounts: Client funds are kept in separate bank accounts from the company’s operational funds, ensuring protection in the unlikely event of bankruptcy.
  • Negative Balance Protection: This feature prevents clients from losing more than the amount they have deposited.
  • Investor Compensation Scheme: As part of CySEC regulation, it is a member of the Investor Compensation Fund (ICF), which protects client deposits up to a certain amount.

Data Encryption

Go Markets ensures data security by implementing Secure Socket Layer (SSL) encryption across its websites and trading platforms, securing client transactions and information.

Account Types and Features

The broker caters to different types of traders by offering three main account types:

Standard Account

Designed for beginner traders seeking a straightforward trading experience:

  • Minimum Deposit: $200
  • Leverage: Up to 1:500
  • Spreads: From 1.0 pip
  • Commission: None
  • Platforms: MT4, MT5
  • Features: Micro-lots trading, mobile trading, negative balance protection.

Pro Account

Tailored for more active traders who require tighter spreads:

  • Minimum Deposit: $500
  • Leverage: Up to 1:500
  • Spreads: From 0.0 pips
  • Commission: $3 per side per standard lot
  • Platforms: MT4, MT5
  • Features: Lower spreads, faster execution, dedicated account managers.

Islamic Account

A swap-free account option for traders following Sharia law:

  • Minimum Deposit: $200
  • Leverage: Up to 1:500
  • Spreads: From 1.0 pip
  • Commission: None
  • Platforms: MT4, MT5
  • Features: Swap-free trading, negative balance protection.

Demo Accounts

Go Markets provides a comprehensive demo account option for traders new to its platform or looking to practice strategies risk-free.

The demo accounts are available for both MT4 and MT5 platforms.

Comparison of Account Types

To help traders decide, the table below compares the features of the three main accounts:

FeatureStandard AccountPro AccountIslamic Account
Minimum Deposit$200$500$200
SpreadsFrom 1.0 pipFrom 0.0 pipsFrom 1.0 pip
CommissionNone$3 per sideNone
LeverageUp to 1:500Up to 1:500Up to 1:500
PlatformsMT4, MT5MT4, MT5MT4, MT5
Islamic AccountNoNoYes
Account ManagerNoYesNo
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Trading Instruments

Go Markets provides a broad array of trading instruments across multiple asset classes, giving traders ample opportunities to diversify their portfolios.

Forex

With over 50 currency pairs, it offers trading in major, minor, and exotic pairs. Its ECN-style execution ensures tight spreads and fast order execution.

  • Major Pairs: EUR/USD, GBP/USD, USD/JPY, etc.
  • Minor Pairs: AUD/JPY, EUR/NZD, etc.
  • Exotic Pairs: USD/ZAR, USD/MXN, etc.

Indices

Indices trading provides exposure to entire market segments, with Go Markets offering major indices such as:

  • US Indices: S&P 500, NASDAQ 100, Dow Jones
  • European Indices: FTSE 100, DAX 30, CAC 40
  • Asian Indices: Nikkei 225, Hang Seng

Commodities

Traders can diversify their portfolios with both hard and soft commodities, including:

  • Precious Metals: Gold, silver
  • Energy: Oil (WTI/Brent), natural gas
  • Agricultural: Soybeans, corn

Shares

It also provides access to over 200 share CFDs from major exchanges, including:

  • US Stocks: Apple, Amazon, Tesla
  • Australian Stocks: BHP Billiton, Commonwealth Bank
  • UK Stocks: Barclays, Vodafone

Cryptocurrencies

For traders seeking to capitalize on cryptocurrency volatility, offers CFDs on popular cryptos:

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Litecoin (LTC)

Trading Platforms

Go Markets offers two primary trading platforms, MetaTrader 4 (MT4) and MetaTrader 5 (MT5), with additional support through WebTrader and mobile apps.

MetaTrader 4 (MT4)

MT4 remains one of the most popular trading platforms globally, offering:

  • Expert Advisors (EAs): Automated trading systems that can implement trading strategies.
  • Charting Tools: Over 30 built-in technical indicators, multiple timeframes, and chart types.
  • Trading Orders: Market, limit, stop, and trailing stop orders.
  • Custom Indicators: Ability to develop custom indicators and trading scripts.

MetaTrader 5 (MT5)

MT5 is an upgraded version of MT4, providing advanced features like:

  • Additional Order Types: Includes fill-or-kill, immediate-or-cancel, and one-cancels-the-other.
  • Depth of Market (DOM): Visualizes liquidity at each price level.
  • Economic Calendar: Integrated economic calendar to track key financial events.
  • Advanced Analysis Tools: More built-in indicators and drawing tools than MT4.

WebTrader

WebTrader allows access to MT4/MT5 directly from a web browser without the need for software installation.

It offers full trading functionality, including charts, indicators, and order management.

Mobile Apps

Go Markets supports mobile trading via the MT4 and MT5 apps for Android and iOS devices.

These apps offer:

  • Real-Time Pricing: Live market data with one-click trading.
  • Custom Alerts: Price and indicator alerts to stay updated on market movements.
  • Charting Tools: Technical analysis and charting tools for market evaluation.

Fee Structure

The broker is transparent about its fees, offering competitive spreads and commissions.

Trading Fees

  1. Spreads: Spreads vary based on account type and market conditions. The Pro Account provides spreads from 0.0 pips, while the Standard Account has spreads from 1.0 pip.
  2. Commission: Only the Pro Account incurs a commission of $3 per side per standard lot traded.

Non-Trading Fees

  1. Deposit and Withdrawal Fees: Generally, it does not charge deposit or withdrawal fees, though external payment provider fees may apply.
  2. Inactivity Fee: An inactivity fee is charged after 12 months without trading activity.
  3. Currency Conversion Fee: Non-USD currency deposits may incur a small conversion fee.

Deposit and Withdrawal Methods

Go Markets offers multiple methods for funding and withdrawals:

  1. Bank Transfer: Suitable for larger transactions, but may take up to 5 business days to process.
  2. Credit/Debit Cards: Instant processing, ideal for quick deposits.
  3. PayPal: Convenient for users with existing PayPal accounts.
  4. E-Wallets: Skrill and Neteller provide rapid transactions with lower fees.

Processing Times

Deposits are processed instantly for most methods, while withdrawals are typically processed within one business day.

Bank transfers may take longer, depending on the bank’s processing time.

Trading Tools and Analysis

This broker offers an impressive suite of tools to help traders make informed decisions:

  1. Trading Central: An advanced analysis tool that offers in-depth market insights.
  2. Autochartist: An automated technical analysis tool that identifies chart patterns and trading opportunities.
  3. VPS Hosting: Enables traders to run their EAs continuously with minimal latency.
  4. MAM/PAMM Accounts: Allows fund managers to control multiple accounts with a single master account.
  5. Economic Calendar: Tracks upcoming economic events that could impact market movements.

Educational Resources

The company provides a robust educational platform with resources suitable for traders at all levels:

  1. Webinars: Regular webinars that cover a wide range of topics from forex fundamentals to advanced trading strategies.
  2. Video Tutorials: Instructional videos demonstrating platform usage, trading strategies, and risk management.
  3. Ebooks and Articles: Downloadable guides and articles that address key concepts like technical and fundamental analysis.
  4. Trading Glossary: A comprehensive glossary that explains commonly used trading terms.
  5. Trading Courses: Structured online courses for comprehensive learning.

Education for Beginners

For novice traders, it offers introductory webinars, video guides on platform usage, and eBooks covering the basics of forex and CFD trading.

Advanced Trader Resources

Experienced traders can benefit from the broker’s advanced webinars, trading strategies articles, and analysis tools.

Customer Support and Community

Go Markets places a strong emphasis on client support and community building.

Support Channels

Support is available via multiple channels:

  • Email: Comprehensive email support is available 24/5.
  • Phone: Regional phone support lines are available for more personalized assistance.
  • Live Chat: Quick and efficient responses through live chat.

Client Community

  1. Forums: Clients can exchange insights and experiences in the discussion forums.
  2. Social Media: Go Markets maintains an engaging social media presence on Facebook, Twitter, and LinkedIn.
  3. Trading Contests: Regular trading contests incentivize client engagement while offering prizes.

Customer Service Quality

Client feedback on customer service is generally positive, with clients praising the promptness and professionalism of responses.

Conclusion

Go Markets stands out as a global leader in forex and CFD trading, offering clients a secure and transparent trading environment.

With regulatory oversight from ASIC and CySEC, competitive spreads, versatile account types, and advanced trading platforms, it caters to a diverse range of traders.

The broker’s comprehensive educational resources and efficient customer support make it ideal for both beginner and advanced traders.

Whether you are new to trading or an experienced trader seeking a reliable broker, Go Markets delivers a robust trading experience backed by a strong commitment to security, client satisfaction, and market expertise.

Visit official website:www.gomarkets.com

FAQ

Is Go Markets regulated?

Yes, the company is regulated by ASIC (Australia) and CySEC (Cyprus), ensuring a secure trading environment.

What is the minimum deposit required?

The minimum deposit required to open an account is $200.

What trading platforms does it offer?

Go Markets provides both MT4 and MT5 platforms, along with WebTrader and mobile apps.

Does the broker offer an Islamic account?

Yes, Go Markets provides an Islamic account option for traders who adhere to Sharia law.

Is this broker suitable for beginner traders?

Absolutely. Go Markets offers comprehensive educational resources and demo accounts, making it an excellent choice for beginner traders.

Are there any deposit or withdrawal fees?

Go Markets does not charge deposit or withdrawal fees, though external payment provider fees may apply.

Is there negative balance protection?

Yes, Go Markets ensures negative balance protection to safeguard clients from incurring losses beyond their deposit.

Resources

User Reviews

“I switched to Go Markets after struggling with another broker, and I’ve never looked back. The spreads are very low, and I appreciate their MT5 platform’s ease of use. Customer service is always quick to respond and super friendly. Overall, it’s been a great experience so far!”
Emma Johnson
“I’ve been trading with Go Markets for over a year, and they have been consistently reliable. Their spreads are tight, and my withdrawals always process on time. The only downside is that they don’t offer 24/7 customer support, but it’s not a dealbreaker given their quality services.”
Michael Smith
“Go Markets offers an excellent variety of trading instruments, which is fantastic for portfolio diversification. I find the MT4 platform extremely stable and love their detailed market analysis. However, I’d prefer if their educational resources were more in-depth. It’s a good broker for intermediate traders.”
Sophia Nguyen
“I joined Go Markets due to their positive reviews and wasn’t disappointed. Their customer support helped me resolve account setup issues quickly, and I’ve enjoyed trading with them ever since. However, the inactivity fee could be a little more lenient.”
James Anderson
“Go Markets is the best broker I’ve used for forex trading. The spreads are among the lowest, and the copy trading feature has been beneficial for learning new strategies. I wish they had ZuluTrade, but their own copy trading platform works well.”
Mia Garcia

Article written, edited and reviewed by

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Last updated: May 23, 2024