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 |
Pros and Cons
- Extremely competitive spreads
- Wide selection of trading platforms
- Flexible account types with low minimum deposit
- Prompt and effective customer support
- Comprehensive education resources
- 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.
Create a Free AccountRegulatory Compliance and Security
Regulatory Bodies
Go Markets is regulated by two leading financial authorities:
- 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.
- Cyprus Securities and Exchange Commission (CySEC): To serve Europeans, 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.
Funds Security
The company prioritizes fund security by maintaining:
- Segregated Accounts: User funds are kept in separate bank accounts from their operational funds, ensuring protection in the unlikely event of bankruptcy.
- Negative Balance Protection: This feature prevents customers 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 transactions and information.
Account Types and Features
The broker caters to different types of users by offering three main account types:
Standard Account
Designed for beginners 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 people 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 users 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:
| Feature | Standard Account | Pro Account | Islamic Account |
|---|---|---|---|
| Minimum Deposit | $200 | $500 | $200 |
| Spreads | From 1.0 pip | From 0.0 pips | From 1.0 pip |
| Commission | None | $3 per side | None |
| Leverage | Up to 1:500 | Up to 1:500 | Up to 1:500 |
| Platforms | MT4, MT5 | MT4, MT5 | MT4, MT5 |
| Islamic Account | No | No | Yes |
| Account Manager | No | Yes | No |
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 this firm 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 individuals 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 Web Trader and mobile apps.
MetaTrader 4 (MT4)
MT4 remains one of the most popular trading platforms globally, offering:
- Expert Advisors (EA): 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
- 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.
- Commission: Only the Pro Account incurs a commission of $3 per side per standard lot traded.
Non-Trading Fees
- Deposit and Withdrawal Fees: Generally, it does not charge deposit or withdrawal fees, though external payment provider fees may apply.
- Inactivity Fee: An inactivity fee is charged after 12 months without trading activity.
- Currency Conversion Fee: Non-USD currency deposits may incur a small conversion fee.
Deposit and Withdrawal Methods
This broker offers multiple methods for funding and withdrawals:
- Bank Transfer: Suitable for larger transactions, but may take up to 5 business days to process.
- Credit/Debit Cards: Instant processing, ideal for quick deposits.
- PayPal: Convenient for users with existing PayPal accounts.
- 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 investors make informed decisions:
- Trading Central: An advanced analysis tool that offers in-depth market insights.
- Autochartist: An automated technical analysis tool that identifies chart patterns and trading opportunities.
- VPS Hosting: Enables traders to run their EA continuously with minimal latency.
- MAM/PAMM Accounts: Allows fund managers to control multiple accounts with a single master account.
- Economic Calendar: Tracks upcoming economic events that could impact market movements.
Educational Resources
The firm provides a robust educational platform with resources suitable for users at all levels:
- Webinars: Regular webinars that cover a wide range of topics, from forex fundamentals to advanced trading strategies.
- Video Tutorials: Instructional videos demonstrating platform usage, trading strategies, and risk management.
- E-Books and Articles: Downloadable guides and articles that address key concepts like technical and fundamental analysis.
- Trading Glossary: A comprehensive glossary that explains commonly used trading terms.
- Trading Courses: Structured online courses for comprehensive learning.
Education for Beginners
For novice traders, it offers introductory webinars, video guides on platform usage, and e-books covering the basics of forex and CFD trading.
Advanced Trader Resources
Experienced investors can benefit from their advanced webinars, trading strategies articles, and analysis tools.
Customer Support and Community
The company 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
- Forums: Clients can exchange insights and experiences in the discussion forums.
- Social Media: Go Markets maintains an engaging social media presence on Facebook, Twitter, and LinkedIn.
- Trading Contests: Regular trading contests incentivize customer engagement while offering prizes.
Customer Service Quality
Client feedback on their service is generally positive, with people praising the promptness and professionalism of responses.
Conclusion
Go Markets stands out as a global leader in forex and CFD trading, offering users 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 firm’s comprehensive educational resources and efficient customer support make it ideal for both beginners and professionals.
Whether you are new to trading or an experienced trader seeking a reliable broker, it delivers a robust trading experience backed by a strong commitment to security, client satisfaction, and market expertise.
Visit official website: www.gomarkets.comFAQ
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 firm offer an Islamic account?
Yes, Go Markets provides an Islamic account option for people who adhere to Sharia law.
Is this broker suitable for beginners?
Absolutely. Go Markets offers comprehensive educational resources and demo accounts, making it an excellent choice for beginners.
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, this broker ensures negative balance protection to safeguard clients from incurring losses beyond their deposit.
Resources
User Reviews
Article written, edited and reviewed by
Adam Rosen
Adam Rosen is a seasoned senior marketer whose expertise extends far beyond the norm. Drawing from decades of experience in the industry, Adam plays an integral role in our team, infusing his insights into every project we tackle. But that's not all – Adam has a unique knack for breaking down complex broker information and crafting insightful reviews for our website, Brokfolio. His dedication to providing readers with valuable insights and guidance makes him an invaluable asset to our team. Beyond his professional pursuits, Adam is fueled by an unwavering passion for technology and fintech. He thrives on pushing boundaries and exploring new horizons in these dynamic domains. Curious to learn more about the mind behind the words? Dive into Adam Rosen's profile to discover a wealth of expertise, innovation, and a relentless drive for excellence.
Andrew Blumer
Andrew Blumer is a finance pro who's got money matters down to a science.
Back in the day, he schooled at Belmont Hill School in Belmont, MA. Then, he took a swing at Harvard College, bagging a BA degree in economics. And that wasn't enough for him – he also nailed an MBA from Harvard Business School in '98.
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Andrew's been causing ripples in the fintech world for a while now. In fact, he's the mastermind behind Brokfolio, a platform that's all about making trading on financial markets crystal clear and super accessible.
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Emily Clark
Emily Clark is our superstar who kicked off her journey as a content whiz and proofreading ninja, focusing on all things finance and tech.
As our team grew, Emily's role blossomed big time. She became the go-to rockstar, an absolute must-have player in our squad, making our growth story rock.
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Last updated: September 5, 2024
