GO Markets Review 2020

4.1

By 7 User Reviews

Regulated By:ASIC, CySEC

Foundation Year:2006

Headquarters:Level 22, 600 Bourke Street, Melbourne, VIC 3000, Australia

Min Deposit:$200

Open Account

Trading derivatives and leveraged products carries a high level of risk, including the risk of losing substantially more than your initial investment. It is not suitable for everyone. Before you make any decision in relation to a financial product you should obtain and consider our Product Disclosure Statement (PDS) and Financial Services Guide (FSG) available on our website and seek independent advice if necessary.

Jitan Solanki

Last updated: Nov 26, 2020

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“GO Markets is an Australian regulated broker providing leverage up to 500:1 to trade on more than 350+ financial CFD instruments covering Forex, Shares, Indices, Metals and Commodities. They are also regulated by the Cyprus Securities and Exchange Commission (CySEC) and Financial Services Authority (FSA). Users can trade from the globally recognised MetaTrader 4 and MetaTrader 5 trading platforms and access additional trading features and 24/5 customer service.”

GO Markets was founded in 2006 and is based in Melbourne, Australia. As such the broker is authorised and regulated by the Australian Securities and Investments Commission and holds an Australian Financial Services Licence. The broker was recently awarded the 2019 Investment Trends Awards for Customer Service and Educational materials/programs.

With GO Markets users can trade on more than 350+ financial CFD instruments covering Forex, Shares, Indices, Metals and Commodities across two main account types called the Standard Account which is commission-free with spreads from 1 pip and the GOPlus Account which is commission-based with spreads from 0 pips. Users can access leverage up to 500:1 with a minimum deposit of 200 AUD.

Users can trade from the MetaTrader 4 and MetaTrader 5 trading platforms for desktop, web and mobile and access additional trading features such as social trading integration with MyFXbook, access to Trading Central and AutoChartist services, advanced indicators from MT4 and MT5 Genesis and access to a-Quant daily trading signals.

The broker also provides access to extensive educational resources and courses through the GO Trading Academy which includes courses, articles and videos, as well as weekly coaching webinars. Users can also access research from its daily news section and customer support in multiple languages 24/5.

GO Markets is the Official Online Trading Partner of Chelsea FC.

Pros:	Cons:
Multiple regulations (ASIC, CySEC, FSA). Commission-free trading available. 350+ CFD instruments available to trade on. Additional features from AutoChartist, Trading Central, a-Quant and more. 24/5 customer service support.	No negative balance protection policy but margin call policy in place for safety.

General Information

Official Site:https://www.gomarkets.com

Demo:Open Demo Account

Regulated By:ASIC, CySEC

Foundation Year:2006

Headquarters:Level 22, 600 Bourke Street, Melbourne, VIC 3000, Australia

Min Deposit:$200

Max Leverage:1:500

Publicly Traded:No

Deposit Options:bpay, Credit Card, FasaPay, Neteller, payguru, Poli, Skrill, Wire Transfer

Withdrawal Options:bpay, Credit Card, FasaPay, Neteller, payguru, PayPal, Skrill, Wire Transfer

Tradable Assets:Currencies, Commodities, Indices, Crypto

Trading Platforms:MT4, MT5, webtrader

Commission on Trades:Yes

Fixed spreads:No

Trading Desk Type:hybrid

OS Compatibility:Desktop platform (Windows), Desktop platform (Mac), Web platform

Mobile trading:Android, iOS

Accepts US Clients:No

Rate GO Markets

Investor Protection & Regulations

“GO Markets is authorised and regulated by the Australian Securities and Investments Commission (ASIC) and holds an Australian Financial Services Licence. They are also regulated by the Cyprus Securities and Exchange Commission (CySEC) and Financial Services Authority (FSA).”

GO Markets is authorised and regulated by the Australian Securities and Investments Commission (ASIC) under the name GO Markets Pty Ltd, as confirmed on the ASIC register. The broker also holds an Australian Financial Services Licence to provide financial services in Australia as confirmed on the Professional Register shown below:

The broker provides further security of client funds by:

Following ASIC regulatory benchmarks.
Holding client funds separately from company funds with the National Australia Bank and Commonwealth Bank.
Having a margin call mechanism to mitigate the risk of an account going into a negative balance.
Being a member of the Australian Financial Complaints Authority (AFCA), the approved Australian external dispute resolution scheme.

GO Markets does not accept clients from Israel, Belgium, Canada, Japan, US, New Zealand, Turkey, United States of America, Afghanistan,, Azerbaijan, Botswana, Bosnia and Herzegovina, Burundi, Central African Rep, Congo, Cote D’Ivoire,, Ethiopia, Eritrea, State of Palestine, Ghana, Guinea Bissau, Haiti, Iran, Iraq, Lebanon, Libya, Myanmar, Nicaragua, North Korea (DPRK), Pakistan, Serbia, Sierra Leone, Somalia, Sudan, South Sudan, Syria, The Bahamas, Trinidad and Tobago, Tunisia, Venezuela, Yemen and Zimbabwe.

GO Markets is also authorised and regulated around the world, as follows:

Go Markets Ltd (ex Galactus Ltd) authorized & regulated by CySEC (#322/17).

Go Markets International Ltd. authorized & regulated by the FSA.

Tradable Products

“GO Markets offers users the ability to trade on more than 350+ financial CFD instruments covering Forex, Shares, Indices, Commodities and Metals.”

GO Markets offers users the ability to trade on more than 350+ financial CFD instruments covering Forex, Shares, Indices, Commodities and Metals. Below is a list of just some of the available markets for trading:

Forex	Shares	Indices
AUDUSD	National Australia Bank Ltd	FTSE 100
USDCAD	BHP Billiton Ltd	DAX 30
GBPUSD	Commonwealth Bank Ltd	NDX 100
EURNZD	Adobe Inc	ASX 200
GBPJPY	Apple Inc	Commodities
CHFJPY	Facebook Inc	Spot WTI Crude Oil
AUDNZD	Netflix Inc	Spot Brent Crude Oil
USDSEK	Nvidia Inc	XAUUSD
USDZAR	Tesla Inc	XAGUSD

* Details regarding the available assets are taken from the GO Markets website and trading platform and are correct at the time of this review.

Trading costs such as spreads, commissions and overnight funding (swap) rates vary depending on the instrument being traded and account type opened but are covered further down this review.

Account Opening

“GO Markets offers two main types of trading accounts called Standard and GOPlus+, offering commission-free and commission-based trading options. The broker also offers access to demo trading accounts.”

GO Markets offers users the ability to trade from two main types of trading accounts called Standard and GOPlus+. Each one comes with different features and services designed for both beginner and advanced traders.

	Standard Account	GOPlus+ Account
Commission:	Zero	3 AUD per side
Spreads from:	1 pip	0 pips
Leverage:	Up to 500:1	Up to 500:1
Markets:	350+ CFDs	350+ CFDs
Min. Deposit:	200 AUD	200 AUD

Both accounts also come with additional trading tools, the possibility of a free VPS and the ability to fund accounts in a variety of currencies including AUD, USD, EUR, GBP, NZD, CAD, SGD, CHF and HKD.

Opening an account with GO Markets is a simple process. Users can choose from opening a Trust, Personal or Corporate Account, as well as Joint Accounts. For a personal account, users need to go through a 5 step process which includes Account Registration, Tell Us More About Yourself, Trading Preferences, Identity Check and Funding.

All this can be done through the application form which is easily accessibly via GO Markets website as shown below:

Applicants and live account holders can access GO Markets client portal which allows traders to manage trading accounts, access trading tools and economic calendar as well as account funding and withdrawal options.

Deposit & Withdrawals options

“GO Markets offers a wide variety of deposit and withdrawal methods such as Bank Wire Transfer, Visa/Mastercard, Poli, Skrill, Neteller, BPay and Fasapay without any fees.”

GO Markets offers a wide variety of deposit and withdrawal methods such as Bank Wire Transfer, Visa/Mastercard, Poli, Skrill, Neteller, BPay and Fasapay but differs per country. Deposits are commission-free and range from instant processing to several days depending on the method.

The broker does not charge for withdrawals but funds that go through an intermediary bank to non-Australian banking institutions may be subject to fees from the bank. Both deposit and withdrawals can be made directly from the Client Portal area.

Withdrawals are processed back to the initial funding source where appropriate and the maximum amount is withdrawn to a debit/credit card can only be equal to the amount received from the same card. More information regarding the deposit and withdrawal methods can be found on the broker’s website, as shown below:

Web & Desktop Trading Platforms

“GO Markets offers users the ability to trade on the globally recognised MetaTrader 4 and MetaTrader 5 trading platforms for desktop and web.”

GO Markets offers a wide variety of different trading platforms suitable for both beginner and advanced traders to trade on multiple asset classes.

GO Markets MetaTrader 4

The GO Markets MetaTrader 4 trading platform is available for desktop download and via web browser and offers features such as:

Fast execution
Advanced charting options
Can use Expert Advisors for auto trading
50 ready to use technical indicators

GO Markets MetaTrader 5

The GO Markets MetaTrader 5 trading platform is available for desktop download and via web browser and offers features such as:

One-click trading
Over 80 technical analysis objects
Market depth tools
Hedging allowed
6 types of pending orders

A screenshot of the GO Markets MetaTrader Web Terminal is shown below and is also covered in more detail in the video review.

Mobile Trading Platforms

“GO Markets offers users the ability to access mobile trading on the go from the MetaTrader 4 and MetaTrader 5 mobile trading apps for Android and iOS systems.”

GO Markets offers users the ability to access mobile trading on the go from the MetaTrader 4 and MetaTrader 5 mobile trading apps for both Android and iOS systems. The app download links can be found on the broker’s website, the Members Area or in the Google PlayStore or Apple AppStore.

The mobile trading apps offer the majority of the same features and functionality as the corresponding web-based platform which includes the ability to trade on multiple asset classes, view real-time prices, access multiple order types and more.

The GO Markets MetaTrader mobile trading app is covered in more detail in the video review.

Trading Features

“GO Markets offers a variety of additional trading features such as access to Genesis for MT4 and MT5, a suite of advanced trading indicators, AutoChartist, Trading Central services, a-Quant for daily AI trading signals, free VPS and social trading via MyFXbook.”

GO Markets offers a variety of additional trading features such as:

Access to MT4 and MT5 Genesis which is a suite of advanced MetaTrading tool add-ons and includes a Mini Terminal, Sentiment Indicator, Correlation Trader, Session Maps and more for accounts with at least $500 or more.
Access to AutoChartist which provides real-time trading alerts and volatility analysis. This is only available for Windows and accounts with at least $500 or more.
Integration with MyFXbook to join the largest social trading community for Forex traders and access auto trading features. This is only available for accounts with at least $1,000 or more.
Access to a-Quant which is a unique signal service for Forex traders that produce 9-12 signals a day based on machine learning AI and technical analysis algorithms.

Commissions & Spreads

“Trading costs with GO Markets vary depending on the account type opened and instrument traded but are competitive.”

Trading costs with GO Markets vary depending on the account type opened and instrument being traded. The Standard Account offers commission-free trading with spreads from 1 pip and the GOPlus+ Account offers commission-based trading of 3 AUD per lot, per side with spreads from 0 pips.

While the broker does not have a dedicated section to show average spreads for its instruments or overnight swap fees, these can be found in the trading platform. For example, logging into the platform on a Friday at 2:15 pm BST the spread on a few majors ranges from 1.2 to 1.5 pips, as shown below:

Users can also right-click on a symbol to view the overnight swap fee, as shown below for EURUSD:

There are some additional fees for trading Share CFDs with a separate commission rate of $0.02 per share with a minimum of $10, as shown below:

Bonus & Promotions

“Currently, GO Markets offers a 30% Deposit Bonus, a Refer a Friend Promotion and Volume Rebates for active traders.’’

While bonus and promotions are subject to change over time, GO Markets currently offers three different bonus and promotional offers and include:

30% deposit bonus for accounts between $1,000 and $20,000.
A Refer a Friend scheme to receive $100 for each friend referred to them and trades with them.
Volume rebate for active traders of between $5 to $15 per million traded if the total monthly volume is at least $25 million.

Customer Support

“GO Markets offers customer support 24/5 in multiple languages via Live Chat, Contact Us Form, Telephone and Email.”

GO Markets offers customer support 24/5 in multiple languages including English, Bahasa, Malay, Vietnamese, Filipino, Thai, Arabic, Spanish, Portuguese, French and Chinese via Live Chat, Contact Us Form, Telephone and Email. The broker also provides an FAQ section on its website.

After logging into the Live Chat function we were greeted by an agent in just a few seconds who started interactions a few seconds later, as shown below:

Contact Information:

Address: Level 22, 600 Bourke Street, Melbourne, VIC, 3000, Australia
Email: support@gomarkets.com
Phone: +61 3 8566 7680
Social Media:

Research

“GO Markets provides access to a wide variety of research through its News section on the website and includes Daily News, Weekly Summaries, Articles, the Margin Call Podcast and an Economic Calendar.”

GO Markets provides access to a wide variety of research through its News section on the website and includes Daily News, Weekly Summaries, Articles, the Margin Call Podcast and an Economic Calendar.

The news covers a variety of different asset classes and themes and the research provides charts and technical commentary as shown below:

Trader Education

“GO Markets provides access to an impressive range of educational resources through the GO Trade Academy which includes four signature education programs on a unique learning management system.’’

GO Markets provides access to an impressive range of educational resources through the GO Trade Academy which includes four signature education programs on a unique learning management system. The courses are free and are online video-based with some also providing live group coaching webinars.

The academy also provides other free trading resources which includes:

Trading Emotions Secrets eBook
7 Habits of Highly Effective Traders video series
Trading Health Check guide.
A large range of educational articles and videos
MetaTrader user guides

Users can also access the Inner Circle Weekly Group Coaching Webinars which is a free weekly session. These cover educational topics and live market analysis.

Trading Experience

“GO Markets provides a simple yet competitive trading offering for both beginner and advanced traders to trade on more than 350+ financial CFD instruments on the MetaTrader 4 and MetaTrader 5 trading platforms with a range of advanced additional trading tools.”

From our observations, GO Markets provides a simple, yet competitive trading offering suitable for both beginner and advanced traders to trade on more than 350+ financial CFD instruments covering Forex, Shares, Indices and Commodities.

Users can trade on a wide range of globally recognised trading platforms including MetaTrader 4 and MetaTrader 5 while also accessing advanced trading tools from the broker’s MT4/MT5 Genesis package, AutoChartist, Trading Central, MyFXbook and a-Quant.

The broker also provides impressive customer support 24/5 and educational resources from the GO Trade Academy.

FAQ

Is GO Markets regulated?

Yes, by ASIC, CySEC and the FSA.

Where is GO Markets based?

GO Markets is based at Level 22, 600 Bourke Street, Melbourne, VIC, 3000, Australia.

How does GO Markets make money?

GO Markets makes money mainly through spreads, swaps and commissions on certain trading accounts and asset classes.

How do I deposit in GO Markets account?

Funds can be deposited into a trading account via Bank Wire Transfer, Visa/Mastercard, Poli, Skrill, Neteller, BPay, Payguru and Fasapay.

What is the min. deposit for GO Markets?

The minimum deposit is 200 AUD.

How do I withdraw money from GO Markets?

Withdrawals can be made from GO Markets via Bank Wire Transfer, Visa/Mastercard, Poli, Skrill, Neteller, BPay, Payguru and Fasapay.

What is the max leverage in GO Markets?

The maximum leverage offered by GO Markets is 500:1.

How do I open an account with GO Markets?

An account can be opened at the click of a button on the GO Markets website and can be done in just a few steps.

Does GO Markets use MetaTrader?

Yes, MetaTrader 4 and MetaTrader 5.

Conclusion

“GO Markets is an Australian regulated broker providing leverage up to 500:1 to trade on more than 350+ financial CFD instruments covering Forex, Shares, Indices, Metals and Commodities. Users can trade from the globally recognised MetaTrader 4 and MetaTrader 5 trading platforms and access additional trading features and 24/5 customer service.”

GO Markets Ltd was founded in 2006 and is based in Melbourne, Australia. As such the broker is authorised and regulated by the Australian Securities and Investments Commission and holds an Australian Financial Services Licence. They are also regulated by the Cyprus Securities and Exchange Commission (CySEC) and Financial Services Authority (FSA) and were recently awarded the 2019 Investment Trends Awards for Customer Service and Educational materials/programs.

With GO Markets users can trade on more than 350+ financial CFD instruments covering Forex, Shares, Indices, Metals and Commodities across two main account types called the Standard Account which is commission-free with spreads from 1 pip and the GOPlus Account which is commission-based with spreads from 0 pips. Users can access leverage up to 500:1 with a minimum deposit of 200 AUD.

Users can trade from the MetaTrader 4 and MetaTrader 5 trading platforms for desktop, web and mobile and access additional trading features such as social trading integration with MyFXbook, access to Trading Central and AutoChartist services, advanced indicators from MT4 and MT5 Genesis and access to a-Quant daily trading signals.

The broker also provides access to extensive educational resources and courses through the GO Trading Academy which includes courses, articles and videos, as well as weekly coaching webinars. Users can also access research from its daily news section and customer support in multiple languages 24/5.

Globally regulated by ASIC, CySEC and the FSA.
Commission-free trading available.
Can trade on MetaTrader 4 and MetaTrader 5.
Impressive range of trading tools from AutoChartist, Trading Central, myFXbook, a-Quant and more.

Official Site >

OPEN ACCOUNT

DEMO ACCOUNT

Trading derivatives and leveraged products carries a high level of risk, including the risk of losing substantially more than your initial investment. It is not suitable for everyone. Before you make any decision in relation to a financial product you should obtain and consider our Product Disclosure Statement (PDS) and Financial Services Guide (FSG) available on our website and seek independent advice if necessary.

Top User Reviews

See All User Reviews

4.1(7)

GO Markets Overall Rating

FX Empire adheres to strict standards of user reviews editorial guidelines to help you make decisions with confidence.

Latest 5 user reviews sorted by highest rating

C

Calvin Chen

Feb 03, 2019

5/5

Reliability:

5/5

A broker that you never regret to trade with

Long lasting broker

W

Wilfred Dibb

Aug 22, 2018

5/5

Reliability:

5/5

Easy and Transparent Broker

had no issues trading with these guys. Easy and open communication and hassle free withdrawal process.

D

David Barnes

Aug 19, 2018

5/5

Reliability:

5/5

Support Cryptocurrencies

They offer to trade on cryptocurrencies.

R

Robert Thigpen

Aug 19, 2018

4/5

Reliability:

4/5

Lots Of Trading Educational Materials For Your Reference

As a new trader, it’s refreshing to know that they have ample educational materials for your reference.

R

Ricardo Foster

Aug 19, 2018

4/5

Reliability:

4/5

spreads are quite low

With the benchmark EUR/USD spread at 0.2 pip, the overall spreads offered by this broker is quite competitive.

Trading derivatives and leveraged products carries a high level of risk, including the risk of losing substantially more than your initial investment. It is not suitable for everyone. Before you make any decision in relation to a financial product you should obtain and consider our Product Disclosure Statement (PDS) and Financial Services Guide (FSG) available on our website and seek independent advice if necessary.

Specs

Latest Tweets by @go_markets

Official Site >

OPEN ACCOUNT

DEMO ACCOUNT

Trading derivatives and leveraged products carries a high level of risk, including the risk of losing substantially more than your initial investment. It is not suitable for everyone. Before you make any decision in relation to a financial product you should obtain and consider our Product Disclosure Statement (PDS) and Financial Services Guide (FSG) available on our website and seek independent advice if necessary.

GO Markets Review 2020

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