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GO Markets Review 2022

Updated:
4.2
Trust
4.4
Fees
4.7
Platforms and Tools
4.3
Customer Support
2.1
Tradable Instruments
3.5
Account Types and Terms
4.5
Deposit and Withdrawal
5.0
Research
5.0
Education
4.1

Risk Warning: GO Markets Pty Limited, ABN 85 081 864 039, AFSL 254963 is a CFDs issuer. Investing in CFDs carries significant risks and is not suitable for all investors. You do not own or have any interest in the rights in the underlying assets. The information on this website is general in nature and doesn’t take into account your personal objectives, financial situation or needs. You should consider whether you are part of our target market by reviewing our TMD. You should read our PDS and other CFD legal documents to ensure you fully understand the risks before you invest in CFDs. We recommend that you seek independent advice and ensure you fully understand the risks involved before you invest in CFDs.

While we adhere to strict editorial integrity, this page may refer to our partners' products. Here's how we make money.Learn how we make money and our review methodology.

Please note: This is a review of a Standard Account opened with GO Markets Limited, a Cyprus Investment Firm. In our review, we evaluated the trading conditions of the account type, the broker’s website, as well as the usability of the desktop and mobile app versions of MetaTrader 4 (MT4).

Data was collected between the 28th and 31st of October.

The Big Picture

GO Markets is a multi-regulated and multi-awarded CFD broker that offers very favorable trading conditions to its clients at very competitive prices. Since its foundation in 2006, the company has endeavored to afford retail traders top-line service by providing probing in-house content and also by partnering with some of the industry’s most renowned service providers.

The broker’s Europe-based entity is authorized and licensed by one of the most trusted regulators – CySEC –  assuring that it complies with the strictest safety regulations. GO Markets has two primary account types catering to the needs of different types of traders, both having low-to-medium trading costs compared to the broader industry. Moreover, the broker affords probing research content and award-winning educational materials.

As regards its drawbacks, the EU entity’s assortment of tradable instruments is rather limited, falling short of 70 in total. While there are enough instruments to choose from to build a consistently performing strategy, the overall diversity is not great. Additionally, we found the broker’s customer support unsatisfactory.

Overall, the broker is trustworthy with favorable trading conditions. The combination of solid licensing, low trading costs, and a wealth of supporting tools makes GO Markets a reliable partner for inexperienced and seasoned traders alike.

GO Markets Key Takeaways for 2022

  • We evaluated GO Markets across 9 categories (Trust and Stability, Fees, Tradable Instruments, Account Types, Deposit and Withdrawal, Research, Customer Support, Education, and Platform and Tools).
  • GO Markets’ performance in the Research and Deposits categories is outstanding. The broker offers rich and highly informative market breakdowns and other supporting tools equally suitable for traders with varying knowledge levels.
  • The broker scored highly in the Fees, Account Types, and Trust categories. Its trading costs are well-balanced and generally lower than the industry average, while the available account types complement each other very well. The broker is licensed by some of the industry’s top regulators.
  • GO Markets earned above-average marks in the Education and Platforms categories. Its educational content is informative, while its platform is practical.
  • The broker scored below average in the Instruments category. While the EU entity offers many instruments from some of the most popular asset classes, such as FX pairs, this does not include cryptocurrencies and CFD shares.
  • GO Markets scored low in the Customer Support category. Despite several attempts to get in touch with them, we received no response from the broker’s support team.

Who is GO Markets For?

GO Markets is equally well-fitted to satisfy the needs of beginners and advanced retail traders alike. Its varied research materials provide a comprehensive overview of current market developments, while its award-winning educational content affords a solid basis for newbie traders. Additionally, clients of the company can take advantage of GO Markets’ partnerships with some of the industry’s leaders, such as a-Quant and Trading Central, and other third-party features incorporated into the broker’s service.

What Sets GO Markets Apart From Other Brokers?

GO Markets strikes a fine balance between its quality of order execution and cost of trading, making it stand out in the industry. The broker adheres to the best execution policy, which diminishes the risk of negative slippage. In its previous EQSS report (Execution Quality Summary Statement), mandated by CySEC, it is stated that the average order execution speed is 115ms. The inclusion of a VPS (Virtual Private Servers) feature enhances this performance.

And all of this comes at very competitive costs. The broker has two retail account types – Standard and GO Plus+. The former affords commission-free trading with low spreads, while the latter offers raw spreads starting from 0.0 pips and a fixed commission below the industry average. GO Markets thus provides great quality at very affordable prices.

GO Markets’ account types
GO Markets’ account types

GO Markets Pros and Cons

Pros Cons
  • Licensed by at least one top-tier regulator
  • Very competitive trading costs
  • Varied research and educational content
  • Multiple third-party supporting tools
  • Limited number of tradable instruments
  • Insufficient customer support

 

broker

Risk Warning: GO Markets Pty Limited, ABN 85 081 864 039, AFSL 254963 is a CFDs issuer. Investing in CFDs carries significant risks and is not suitable for all investors. You do not own or have any interest in the rights in the underlying assets. The information on this website is general in nature and doesn’t take into account your personal objectives, financial situation or needs. You should consider whether you are part of our target market by reviewing our TMD. You should read our PDS and other CFD legal documents to ensure you fully understand the risks before you invest in CFDs. We recommend that you seek independent advice and ensure you fully understand the risks involved before you invest in CFDs.

 

About the Author

Plamen Stoyanov
Finance writer, analyst, and author of a book for beginner traders "Bulls, Bears and Sharks" with an experience of over 8 years in retail trading and more than 3 years in the finance area.
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How Do We Rate?

When trading forex and CFDs, it is crucial to know a broker's strengths and weaknesses. That is why FX Empire developed its proprietary rating system. We put the knowledge and expertise of our reviewers to work to bring you the most suitable brokers. A total of 200 variables have been analyzed to help you choose your broker wisely. This chart describes all the categories we evaluated and rated.
How Do We Rate Chart
Visit our methodology page to learn more about our review and rating process.
GO Markets Main Features
☑️
Regulations
ASIC (Australia), CySEC (Cyprus), FSC (Mauritius)
🗺
Supported Languages
English, Chinese, Indonesian, Vietnamese
💰
Products (CFD)
Currencies, Commodities, Indices, Stocks, Futures
💵
Min Deposit
$100
💹
Max Leverage
1:30 (ASIC), 1:30 (CySEC), 1:500 (FSC)
🖥
Trading Desk Type
ECN, STP
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Check if...
unknownGO Markets accepts clients from your country:
Choose your country:

Risk Warning: GO Markets Pty Limited, ABN 85 081 864 039, AFSL 254963 is a CFDs issuer. Investing in CFDs carries significant risks and is not suitable for all investors. You do not own or have any interest in the rights in the underlying assets. The information on this website is general in nature and doesn’t take into account your personal objectives, financial situation or needs. You should consider whether you are part of our target market by reviewing our TMD. You should read our PDS and other CFD legal documents to ensure you fully understand the risks before you invest in CFDs. We recommend that you seek independent advice and ensure you fully understand the risks involved before you invest in CFDs.

GO Markets Full Review

Trust

4.4
How Do We Test A Broker's Trust?
When choosing a broker, trustworthiness is one of the most important things to keep in mind. Always check the broker's regulations, know how financially secure the firm is, and find out whether the broker is transparent and reliable. These factors, calculated into our score, will help you understand if your money is safe.

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GO Markets scored highly in the Trust category. The broker operates three entities that are authorized by different-tier regulators. This results in certain discrepancies in their safety policies. The company as a whole is fairly transparent, making it a reliable partner.

GO Markets Regulations

In our reviews, we examine the licenses and regulations of each entity operated by a broker. This allows us to compare each entity’s different levels of protection. We rank licenses by various regulatory bodies on a three-tier system, where Tier-1 licensing indicates the highest level of regulation.

Here is what we found out concerning GO Markets’ two subsidiaries:

  • GO Markets Ltd is authorized and regulated by the Cyprus Securities Exchange Commission (CySEC). CySEC ranks as a Tier-1 regulator on our system.
  • GO Markets Pty Ltd is authorized and regulated by the Australian Securities and Investment Commission (ASIC). ASIC ranks as a Tier-1 regulator on our system.
  • GO Markets Pty Ltd (MU) is authorized and regulated by the Financial Services Commission (FSC) of Mauritius. The FSC ranks as a Tier-3 regulator on our system.
GO Markets Ltd’s licensing information on cysec.gov.cy
GO Markets Ltd’s licensing information on cysec.gov.cy

We have summarised the most essential aspects of GO Markets’ entities in terms of regulation and safety in the table below:

Entity Features GO Markets Ltd GO Markets Pty Ltd GO Markets Pty Ltd (MU)
Country/Region Cyprus, Limassol Australia, Melbourne Mauritius, Ebene
Regulation CySEC ASIC FSC
Tier 1 1 3
Segregated Funds Yes Yes Yes
Negative Balance Protection Yes Yes No
Compensation Scheme Up to 20,000 EUR No No
Max. Leverage 1:30 1:30 1:500

Why is it Important to Know Where Your Broker is Regulated?

Brokers running multiple entities are liable to different jurisdictions. And there could be significant discrepancies between the safety regulations mandated by, say, a top-tier regulator and an offshore one. That is why traders should consider carefully the specific regulatory frameworks their preferred entity is mandated to comply with.

We have listed the most important safety policies to look for in a broker below:

  • Segregation of client funds. Keeping client funds in separate bank accounts from the ones used by the broker for its own corporate capital is essential for mitigating the risk of accounting errors. GO Markets’ three entities all comply with this requirement.
  • Negative balance protection. Negative balance protection is a mechanism that removes the danger of a trader’s losses exceeding their account balance. This is especially important in volatile markets. GO Markets Ltd and GO Markets Pty Ltd have negative balance protection, while GO Markets Pty Ltd (MU) does not.
  • Compensation scheme. A compensation scheme protects the trader against the broker’s liabilities. Retail clients of GO Markets Ltd can be compensated by up to 20,000 EUR in case the company becomes insolvent. Clients of GO Markets Pty Ltd and GO Markets Pty Ltd (MU) are not protected against the entity’s credit risk.
  • Maximum leverage. The maximum permitted leverage usually differs greatly between strict, top-tier regulators and offshore bodies. That is so because the benefit of having high leverage runs parallel to the associated risk. In other words, the higher the leverage, the higher the potential profit from winning trades, but also the higher the incurred losses from failed ones. That is why some regulators cap the maximum market exposure of retail traders by limiting the maximum allowed leverage. The European and Australian entities’ maximum leverage for retail traders is 1:30, whereas clients of the Mauritius entity can set their leverage as high as 1:500.

Is GO Markets Safe to Trade With?

The EU and Australian entities both comply with some of the industry’s strictest policy regulations, guaranteeing the highest possible degree of protection. The segregation of client funds and negative balance protection represent retail traders’ first lines of defense. Their account balances are protected to the extent that their losses cannot exceed their invested capital.

Additionally, in the case of GO Markets Ltd, CySEC’s Investor Compensation Fund (ICF) protects them against external, non-trading threats, such as the risk of the company going bankrupt.

Stability and Transparency

In our tests for the Trust category, we also cover factors relating to stability and transparency. Here, we focus on how long the broker has been in business, how big the company is, and how transparent it is in terms of readily available information.

Over the past decade and a half, GO Markets has proven itself a trustworthy and transparent broker. There is plenty of information on the website relating to its regulations and trading costs, and the periodically released EQSS (Execution Quality Summary Statement) reports ensure the broker maintains a high standard of order execution quality.

GO Markets has also been awarded multiple times for the quality of its services. In 2022, it won the ‘Best Forex Fintech Broker-Global’ category in the ‘Global Forex Awards.’ In the same year, it was also declared the winner in the ‘Investment Trend Awards’ in the ‘Educational Materials/Programmes’ category.

In summary, our findings indicate that GO Markets Ltd can be regarded as having a very good level of trust and stability due to the following factors:

  • The company is licensed by two top-tier regulators – CySEC and ASIC.
  • It complies with some of the strictest safety procedures in the industry.
  • The quality of its services is monitored continually.

Fees

4.7
How Do We Test A Broker's Fees?
Broker fees can be difficult to understand. We test the broker's platforms and examine commissions, spreads, and overnight fees to ensure that you can determine if trading with this broker is worth your time and money.

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GO Markets scored very highly in the Fees category. Its spreads and swaps are generally low-to-medium compared to the broader industry. One of its account types also affords commission-free trading. Additionally, the broker accommodates Islamic accounts (swap-free).

GO Markets has two account types – Standard and GO Plus+. The former accommodates commission-free trading with spreads starting from 1.0 pips, while the latter has raw spreads starting from 0.0 pips and a fixed commission of 2 EUR per side.

As regards its non-trading costs, the broker charges inactive accounts a maintenance fee of 15 EUR. On the other hand, GO Markets does not charge any handling fees for deposits or withdrawals.

GO Markets Trading Fees

GO Markets’ Spreads

We tested GO Markets’ spreads during the most actively traded times – the London open at 8 AM GMT and just after the U.S. open at 2:45 PM GMT. The test was conducted on October 28, 2022.

Instrument Live Spread AM Live Spread PM
EURUSD 1.2 pips 1.1 pips
GBPJPY 1.7 pips 1.7 pips
Gold (XAUUSD) 19 pips 16 pips
Crude Oil 0.03 pips 0.03 pips
Apple No Instrument No Instrument
Tesla No Instrument No Instrument
Dow Jones 30 1.55 basis points 1.5 basis points
Germany 40 0.9 basis points 0.9 basis points

The spreads on a Standard account are low-to-medium compared to the broader industry. What is also noteworthy is that there are no significant discrepancies between the recorded AM and PM spreads. This shows that GO Markets has a solid supply of liquidity throughout the day, thus decreasing the likelihood of slippage.

GO Markets’ Swap Rates

A swap fee is a trader’s cost for holding an open position overnight because of changing interest rates. Swap long refers to the charge deductible or credit receivable for holding a buy position open overnight. In turn, swap short relates to the charges/credits deductible or receivable for holding a selling position open overnight.

The values listed below are for one full contract (100,000 units) of the base currency.

Instrument Swap Long Swap Short
EURUSD Charge of $8.19 Credit of $4.84
GBPJPY Credit of $1.52 Charge of $5.25

GO Markets’ swaps are also low-to-medium compared to the broader industry. Traders wanting to avoid paying rollover charges due to their religious beliefs can opt for the broker’s swap-free Islamic accounts.

GO Markets’ Commissions

There are no fixed commissions on a Standard GO Markets Account, however, there is a fixed 2 EUR per side (4 EUR round turn) commission per traded lot on a Go Plus+ Account. Traders thus have to pay 2 EUR for opening a position of 100,000 units of the underlying, and then an additional 2 EUR to close it. This rate falls below the industry average.

GO Markets’ Non-Trading Fees

Inactive accounts that have been dormant for more than 3 months are charged a maintenance fee of 15 EUR, or the equivalent in the account’s base currency. The fee is charged monthly until activity on the account resumes or the balance drops to zero. GO Markets’ maintenance fee is about average compared to similar brokers, but its activation period is rather short.

The broker does not charge deposits and withdrawals, though third-party fees such as banking processing fees may apply.

Are GO Markets’ Fees Competitive?

Overall, GO Markets’ fees are very competitive for both high-frequency and high-volume traders. They can make use of the low-to-average spreads, swaps, and commissions in combination with GO Markets’ fast order execution.

Platforms and Tools

4.3
How Do We Test A Broker's Platforms and Tools?
Platforms are where you trade, so they must be secure, fast, and accessible while offering you the tools you need to succeed. Each broker's desktop, web, and mobile platforms are evaluated according to the order types, speed of execution, ease of use, and other 'need to know' features.

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GO Markets was awarded an above-average mark in the Platforms and Tools category. The broker incorporates the renowned MetaTrader 4 (MT4). Clients of the overseas entities of the broker can also opt for MT5. The successor of the reputable platform consists of a greater number of supporting tools.

In addition to MT4’s wealth of built-in tools, clients of GO Markets can also enhance the platform’s usability by activating MT4 Genesis – a suit containing multiple add-ons of various types. At any rate, the desktop version of MT4 comprises some essential features, such as one-click trading, Expert Advisors (EAs), and others. There is, however, no social trading.

The mobile app retains some of the features present in MT4’s desktop version, though its outlook is somewhat more rugged and its general ease of use lower. Regardless, the app is indispensable when having to make adjustments on the go.

GO Markets’ Desktop MT4 Platform

The desktop version of GO Markets’ MT4 platform
The desktop version of GO Markets’ MT4 platform

General Ease of Use

Even though MT4 does not possess the most user-friendly interface and sleekest design, it should be praised for its practicality. Its charts are positioned in the middle of the screen; a watch list of preferred instruments can be found on the left, while a banner containing all the relevant tools is placed at the top of the screen.

Charts

To technical traders, the chart is the most important feature of any platform. It is where price action is illustrated and analyzed, which is why clarity, precision, and an abundance of supporting tools are all necessary features of an effective chart. MT4 fairs reasonably well in this regard.

Below, we have listed the key features of MT4’s charts:

  • Trading indicators. Traders can choose from 30 different indicators separated into several categories – trend-based, volume-based, and oscillators. These are used to gauge market sentiment and outline potential trading setups.
  • Drawing tools. The platform consists of 24 drawing tools, including lines, channels, Fibonacci retracement levels, and others. Traders use drawing tools to underpin key support and resistance levels, repeatable patterns in the price action, and potential breakouts/breakdowns from trends and ranges.
  • There are 9 different timeframes, ranging from 1-minute to 1-month. These afford a basic insight into price action behavior at different intervals. By scaling it up and down, traders can observe both minor fluctuations as well as massive, transformational changes in the direction of the price action.
  • Chart types. MT4 has only three chart types. The underlying price action can be represented either as a line, using bars or candlesticks.

Orders

Here is a breakdown of the essential order types available on MT4:

  • Market orders. Market orders are used for immediate entry at the best possible price. If triggered, they guarantee volume filling, though there could be a discrepancy between the requested price and the price where the order actually gets filled.
  • Limit orders. Unlike market orders, limit orders guarantee exact price execution. However, a limit order will not be filled if the price action does not reach the pre-determined execution price.
  • Stop orders. These have multiple variations, the most popular ones being stop loss and trailing stop orders. Stop orders are usually used to cap the maximum losses that can be incurred from an underlying position. For instance, if the stop loss order is triggered after the market reverses, it will be transformed into a market order and filled at the best possible price.

GO Markets’ Mobile MT4 App

The mobile app serves one primary purpose. It affords quick and easy access to a trader’s account so that they can promptly adjust their running positions at times of heightened market volatility. And even though it contains most of the features that are also present on MT4’s desktop version, the app is not as suitable for conducting probing technical analyses.

General Ease of Use

The biggest problem of MT4’s mobile app version, which is pretty much inherent to all similar trading apps, is a lack of space. Since it has to be run on small-screened devices, its interface is much more cramped than the desktop version. This makes price action monitoring and examination more arduous. Still, the app’s layout is fairly simplistic, with everything being just a few clicks away.

Charts

The following is a breakdown of the key components of the mobile app’s charts:

  • Trading indicators. The app consists of 30 trading indicators – trend-based, volume-based, and oscillators. These are used to study market sentiment and general price action behavior. Traders should keep in mind that due to the above-mentioned problem concerning lack of space, it is fairly easy to overpopulate your app window with indicators.
  • Drawing tools. Traders can also choose from 24 different drawing tools, used to outline important support and resistance levels.
  • There are also 9 timeframes, ranging from 1-minute to 1-month.
  • Chart types. The app also has 3 different chart types – line, bars, and candlesticks.

Orders

Here is a rundown of the order types available for execution through the mobile app:

  • Market orders. Market orders are used for immediate entry at the best possible price. If triggered, they guarantee volume filling, though there could be a discrepancy between the requested price and the price where the order actually gets filled.
  • Limit orders. Unlike market orders, limit orders guarantee exact price execution. However, a limit order will not be filled if the price action does not reach the pre-determined execution price.
  • Stop orders. These have multiple variations, the most popular ones being stop loss and trailing stop orders. Stop orders are usually used to cap the maximum losses that can be incurred from an underlying position.

Tradable Instruments

3.5
How Do We Test A Broker's Tradable Instruments?
In this section, we check the broker’s market offering and how varied the instruments and asset classes are. It will allow you to check if they offer what you're looking for and what you can trade.

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GO Markets scored below average in the Tradable Instruments category. Clients of GO Markets Ltd can choose from just over 70 different instruments from several asset classes. Diversity, however, is lacking since there are no CFD shares or cryptocurrencies. Those are available with the broker’s overseas entities – GO Markets Pty Ltd and GO Markets Pty Ltd (MU).

The broker’s EU-based entity offers a reasonable amount of FX pairs, commodities, and a couple of futures. It also boasts an above-average number of indices, affording traders a certain degree of flexibility. They can choose from some of the most widely traded indices and take advantage of GO Markets’ low spreads on instruments from this asset class.

What are CFDs?

Contracts for difference (CFDs) are derivatives used to speculate on the price of the underlying without physical delivery. For example, a long position on gold would generate a profit as the price rises or incur a loss as it falls. This is achieved without having to purchase actual bars of gold. One of the biggest advantages of trading CFDs is that traders can get in and out of the market almost instantaneously, thereby catching even minute changes in the price of the derivative.

What Can You Trade With GO Markets?

We have listed the available instruments by asset class below:

  • 52 Currency Pairs
    • Majors, Minors, and Exotic
  • 6 Commodities
    • Metals and Energy
  • 12 Indices
    • S., Asia, Europe
  • 2 Futures
    • Energy

Broken down by asset class, FX pairs and indices are the most varied. The former are more popular among less experienced traders, whereas the latter tend to be highly volatile and thus more suitable for more experienced traders. It also helps that the broker offers low-to-medium spreads on instruments from these two asset classes.

Traders seeking bigger diversity can opt for the broker’s offshore entities, which offer multiple CFD shares, as well as Treasury CFDs.

Forex Commodities
EURUSD | USDCAN | EURCAD | GBPJPY | EURMXN | USDDKK | EURPLN Gold | Silver | Crude Oil | Brent Oil
Indices Futures
FTSE100 | CAC40 | DAX30 | STOXX50 | HK50 | US500 | NDX100 US Oil Futures | UK Oil Futures

Risk Warning: GO Markets Pty Limited, ABN 85 081 864 039, AFSL 254963 is a CFDs issuer. Investing in CFDs carries significant risks and is not suitable for all investors. You do not own or have any interest in the rights in the underlying assets. The information on this website is general in nature and doesn’t take into account your personal objectives, financial situation or needs. You should consider whether you are part of our target market by reviewing our TMD. You should read our PDS and other CFD legal documents to ensure you fully understand the risks before you invest in CFDs. We recommend that you seek independent advice and ensure you fully understand the risks involved before you invest in CFDs.

Customer Support

2.1
How Do We Test A Broker's Customer Support?
Traders tend to underestimate customer support, but it might be a crucial feature in moments of crisis. In our rating, we check the contact methods available, how accessible a live agent is and how helpful the responses are. This information will allow you to know if a broker can provide full support when you need it.

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GO Markets scored low in the Customer Support category. The broker offers 24/5 support via live chat, phone, and email. However, getting in touch with them is not always easy.

For general queries, traders can refer to the dedicated FAQ section of the website. They can also try the live chat feature, though they should expect an email response. This may take anywhere from a few minutes to several hours. Alternatively, traders can try phoning GO Markets’ customer support for more urgent inquiries.

GO Markets’ Customer Support Test

When we test a broker’s customer support team, we evaluate the agents’ knowledge of their own website, how long it takes them to respond to questions, and how detailed their answers are.

Initially, we tried getting in touch with GO Markets via the live chat option on October 28. No agent connected to the chat, though we were supposed to receive an answer to our question (whether cryptocurrency trading is permitted on either of the broker’s two entities) via email. We received no such response.

On October 31, we tried calling the Head Office of the EU-based entity on several occasions, unsuccessfully.

Deposit and Withdrawal

5.0
How Do We Test A Broker's Deposit and Withdrawal?
The deposit or withdrawal process can be a tricky one. You may discover that there are hidden fees, or that withdrawal times are longer than you anticipated. We check these factors and others so you know what to expect when trading with this broker.

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GO Markets earned an outstanding mark in the Deposit and Withdrawal category. The broker affords multiple payment methods, processing times are generally low, and, most importantly, there are no handling fees. However, third-party fees may apply.

GO Markets Deposits

Method Currency Processing Time Fees Regulator
Credit/Debit Card EUR, USD 1-2 business days $0 Various
Bank Wire EUR, USD 1-3 business days $0 Various
Dotpay PLN Instant $0 National Bank of Poland
Skrill EUR, USD Instant $0 Central Bank of Ireland
Neteller EUR, USD Instant $0 Central Bank of Ireland

GO Markets Withdrawals

Method Currency Processing Time Fees Regulator
Credit/Debit Card EUR, USD 1 business day $0 Various
Bank Wire EUR, USD 1 business day $0 Various
Dotpay PLN 1 business day $0 National Bank of Poland
Skrill EUR, USD 1 business day $0 Central Bank of Ireland
Neteller EUR, USD 1 business day $0 Central Bank of Ireland

The broker works with multiple payment providers, allowing its clients the freedom to choose their optimal funding method. The available possibilities include payments via bank wire, credit and debit cards, or an e-wallet. All payments are regulated by international institutions and are usually processed within 1 business day. However, bank transfers to a trading account may take up to 2 business days to complete.

Account Types and Terms

4.5
How Do We Test A Broker's Account Types and Terms?
In order to achieve your trading goals, you need to choose the right account. We evaluate each broker's account types, how easy it is to open an account with them, and the steps involved, so you can decide if it is worth your time to open an account.

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The broker scored highly in the Account Types and Terms category. It has two main account types – GO Plus+ and Standard. The former offers a combination of raw spreads and fixed commission, while the latter provides floating spreads and commission-free trading. Traders can also opt for a swap-free Islamic account.

The two account types have very affordable conditions. The minimum deposit requirement for both is 100 EUR/USD, with both permitting the implementation of high-risk strategies like scalping and algorithmic trading through Expert Advisors (EAs). GO Markets’ best execution policy further increases the quality of the service.

Why is Choosing the Right Account Type Important?

Some traders are naturally more cautious and conservative, whereas others do not shy away from taking on bigger risks. This discrepancy necessitates the inclusion of different account types to cater to traders’ various needs and goals. Thus, choosing the right account type – whether for high-volume or high-frequency trading –  is a matter of picking the one that reflects your aspirations and style most closely.

What Account Types Does GO Markets Offer?

Account Type Standard GO Plus+
Spreads From From 1.0 pips From 0.0 pips
Commission $0 €2 per side
Min. Deposit 100 EUR/USD 100 EUR/USD
Max. Leverage 1:30 1:30
EAs Available Yes Yes
Free VPS Yes Yes
Min. Trade Size 0.01 lots 0.01 lots
Base Currency EUR, USD, PLN EUR, USD, PLN

As shown above, the only discernable difference between GO Markets’ Standard and GO Plus+ accounts is expressed in their spreads and commissions. Due to its combination of commission-free trading and floating spreads, the former is better suited for high-frequency traders. That is so because they do not have to pay a fixed charge every time they get in and out of trades.

The latter, in contrast, caters to the needs of high-volume traders. Their biggest advantage are the raw spreads starting from 0.0 pips. High-volume traders tend to place fewer orders over a given period of time. And the $0 commission on a Standard account will not be as useful to them as, for instance, intraday traders, who can get in and out of the market several times within the same day.

What is CFD Leverage?

The leverage determines a trader’s overall market exposure. When trading Contracts for Difference (CFDs), positions can be opened for a fraction of their value because of the leverage. Essentially, the broker lends the trader money so that the latter can open bigger-sized positions. The leverage multiplies the profits a trader generates from winning positions but also the losses incurred from failed trades.

GO Markets Account Opening Process

We have summarized the account creation process in several easy steps:

  • Step 1. Click on the ‘Open CFD Account’ button in the top-right corner of the website. Fill in your name and select either of the two entities of the broker – CySEC or FSC.
  • Step 2. Choose your trading preferences: (1) an account type, (2) currency, and (3) whether a current client of the broker has referred you.
  • Step 3. Fill in the rest of your basic information, such as DoB, country of residence, and tax identification number (TIN).
  • Step 4. Sign a declaration that you accept the T&Cs and that you are older than 18.
  • Step 5. Upload your documents – proof of ID and address – to verify your account. The verification may take up to 2 business days. You will then be sent a confirmation email with your login details.
GO Markets’ account registration form
GO Markets’ account registration form

Why is a Demo Account Important?

Demo accounts serve a twofold purpose. On the one hand, they allow potential clients to test a broker’s service in a safe environment without the risk of losing any money. On the other, traders can use them to periodically test and improve their strategies in light of the ever-changing market sentiment. Demo accounts are thus indispensable for beginners and seasoned traders alike.

GO Markets Supported Countries

GO Markets Ltd does not provide investment and ancillary services to clients outside the European Union. International traders may consider signing up with either of the two overseas entities – GO Markets Pty Ltd or GO Markets Pty Ltd (MU).

Risk Warning: GO Markets Pty Limited, ABN 85 081 864 039, AFSL 254963 is a CFDs issuer. Investing in CFDs carries significant risks and is not suitable for all investors. You do not own or have any interest in the rights in the underlying assets. The information on this website is general in nature and doesn’t take into account your personal objectives, financial situation or needs. You should consider whether you are part of our target market by reviewing our TMD. You should read our PDS and other CFD legal documents to ensure you fully understand the risks before you invest in CFDs. We recommend that you seek independent advice and ensure you fully understand the risks involved before you invest in CFDs.

Research

5.0
How Do We Test A Broker's Research?
Research options provided by brokers may not be seen as the most important feature for some traders, but they can give you an edge over the competition. Staying on top of important market news announcements and being aware of big themes can be very helpful. The rating system provides a clear picture of how well your broker fulfills this service.

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GO Markets earned a perfect score in the Research category. The broker offers a wide range of in-house content, such as market news, breakdowns, analyses, videos, and others. The assortment is further enhanced by the inclusion of third-party content from industry leaders like Trading Central. The research materials are not only diverse but also very informative and useful.

GO Markets’ research materials vary in style, format, complexity, and scope. They afford traders with different experience levels a comprehensive yet accessible overview of essential market developments.

An example of a GO Markets analysis
An example of a GO Markets analysis

Research Tools

Here is a rundown of GO Markets’ research content by type:

  • Economic calendar. Traders use the economic calendar to filter upcoming economic releases, speeches, and policy decisions impacting the market. The calendar highlights potential trading opportunities and ranks them by the anticipated market reaction.
  • Market news and trade ideas. Traders refer to this section of the website to read about recent developments and potential trading setups. The articles contain technical and fundamental parts, underpinning important support and resistance levels and likely target levels. It’s worth pointing out that the author of each material is also included at the bottom, thus increasing the overall transparency and reliability of GO Markets’ analyses.
  • Video updates. GO Markets also publishes market breakdowns in video format, making it easier for people to stay on top of recent developments. The videos usually last several minutes and cover the development of current trading setups over the short term. This is particularly useful since it affords traders with more or less continual monitoring of such opportunities.
  • Third-party content. GO Markets Ltd has partnered with Trading Central and a-Quant, which are services providing trading signals to retail traders. The latter service generates between 9 and 12 signals daily and is tailored for high-frequency traders. The broker’s offshore entities also incorporate Myfxbook and Autochartist.
GO Markets’ news and trading ideas section on the website
GO Markets’ news and trading ideas section on the website

Education

4.1
How Do We Test A Broker's Education?
Educating yourself on how to trade the financial markets can make the difference between success and failure. We check the educational content provided by the broker, its quality and suitability for beginners and advanced traders.

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GO Markets scored above average in the Education category. Its content is rich, diverse, and illuminating. There are more than 60 articles covering various aspects of the general trading experience, videos, webinars, and even a podcast. What prevented GO Markets from scoring higher is that it does not delve much deeper than the basics of trading.

GO Markets has one educational course for beginners called ‘First Steps in Forex’ with three modules. Those include: ‘Understanding the Forex Market’; ‘Developing a Forex trade entry system’; and ‘Developing a Forex trade exit system.’ The value of its educational content has garnered international acclaim.

The ‘Trading Strategies, Psychology’ section of the website contains over 60 written articles covering multiple topics related to technical, fundamental, and psychological analyses, which we found very useful. And in addition to the multiple educational videos and webinars, GO Markets also has a podcast called ‘Margin Call.’ This is quite an uncommon feature but also an innovative way for a broker to reach out to its followers and clients.

GO Markets’ education hub
GO Markets’ education hub

The Bottom Lime

GO Markets is an excellent OTC derivatives broker with exposure to some of the world’s biggest financial hubs. Its services are tailored to satisfy the needs of both high-frequency and high-volume traders. In the 16 years since its foundation, the broker has asserted itself as a trustworthy partner with favorable conditions and multiple supporting tools.

The broker’s very low trading fees underpin the most significant advantage of signing up with GO Markets. We found its spreads and commissions to be lower than the industry average. Traders can choose between the broker’s two account types – GO Plus+ and Standard – which are very well balanced, each catering to the particular needs of different types of traders. GO Markets also has very diverse and sophisticated research materials equally suitable for newbies and seasoned traders alike.

GO Markets Ltd and GO Markets Pty Ltd are authorized by top-tier regulators – CySEC and ASIC, respectively. However, GO Markets Pty Ltd (MU) is licensed by a lower-tier regulator (FSC). This discrepancy underpins varying levels of protection entailed by the three. As regards Go Markets’ few drawbacks, we found its customer support somewhat unsatisfactory. Additionally, the European entity offers a very limited amount of tradable instruments.

Overall, GO Markets can be beneficial to beginners in need of comprehensive educational materials, as well as advanced traders seeking continual and in-depth market research. The broker offers very competitive conditions and affords the implementation of different types of trading strategies.

FAQ

Where is GO Markets based?
GO Markets Pty Ltd is headquartered in Melbourne, Australia. GO Markets Ltd is based in Limassol, Cyprus. GO Markets Pty Ltd (MU) is based in Ebene, Mauritius.

Is GO Markets safe?
In our opinion, 

How does GO Markets make money?
Via the spreads and commissions, it charges for order execution.

Is GO Markets good for beginners?
Yes, it has very competitive fees, comprehensive research content, and detailed educational materials.

How do I deposit into a GO Markets account?
Deposits can be processed using bank cards, wire transfers, and e-wallets.

What is the minimum deposit for GO Markets?
The minimum deposit is 100 EUR/USD.

How do I withdraw money from GO Markets?
Withdrawals can be processed using bank cards, wire transfers, and e-wallets.

How long does it take to withdraw money from a GO Markets account?
Most transactions are processed within 1 business day.

What is GO Markets’ maximum leverage?
The maximum leverage is 1:30 for all retail accounts. Clients of GO Markets Pty Ltd (MU), however, may set their maximum leverage at 1:500.

How do I open an account with GO Markets?
Click the ‘Open CFD Account’ button on the main page’s top-right corner and follow the instructions.

Which platforms does GO Markets offer?
GO Markets Ltd incorporates MetaTrader 4 (MT4). Clients of GO Markets Pty Ltd and GO Markets Pty Ltd (MU) can choose between MetaTrader 4 (MT4) and MetaTrader 5 (MT5).

Does GO Markets offer a demo account?
Yes

broker

Risk Warning: GO Markets Pty Limited, ABN 85 081 864 039, AFSL 254963 is a CFDs issuer. Investing in CFDs carries significant risks and is not suitable for all investors. You do not own or have any interest in the rights in the underlying assets. The information on this website is general in nature and doesn’t take into account your personal objectives, financial situation or needs. You should consider whether you are part of our target market by reviewing our TMD. You should read our PDS and other CFD legal documents to ensure you fully understand the risks before you invest in CFDs. We recommend that you seek independent advice and ensure you fully understand the risks involved before you invest in CFDs.

See GO Markets Full Information
Broker General Information
Trading Features
Other Details
Headquarters Country
Australia
Foundation Year
2006
Regulations
ASIC (Australia), CySEC (Cyprus), FSC (Mauritius)
Publicly Traded
No
Number Of Employees
134
Trading Desk Type
ECN, STP
Trading platforms
MT4, MT5, WebTrader
Restricted Countries
United States, Turkey, Japan, Congo, Cote d'Ivoire, Eritrea, Ghana, North Korea, Guinea-Bissau, New Zealand, Nicaragua, Iran, Iraq, Tunisia, Trinidad and Tobago, Somalia, Azerbaijan, Venezuela, Yemen, Botswana, Syria, Sierra Leone, Central African Republic, Lebanon, Ethiopia, Israel, Libya, Myanmar, Pakistan, Haiti, South Sudan, Sudan, Bahamas, Zimbabwe, Burundi, Canada
Supported Languages
English, Chinese, Indonesian, Vietnamese
Min Deposit
$100
Max Leverage
1:30 (ASIC), 1:30 (CySEC), 1:500 (FSC)
Deposit Options
Wire Transfer, Credit Card, Skrill, Neteller
Withdrawal Options
Wire Transfer, Credit Card, Skrill, Neteller
Time to Withdrawal
1
Time to Open an Account
11
Products (CFD)
Currencies, Commodities, Indices, Stocks, Futures
Demo Account
Yes
Islamic Account
Yes
Segregated Account
No
Managed Account
No

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