GO Markets Reviews 2022 – Pros And Cons Of (GOMarkets)

GO Markets- Everything you need to Know

GO Markets Reviews 2022 – Pros And Cons Of (GOMarkets)

Table of Contents

GO Markets is an Australia-based broker company founded in 2006. It got its license from the Australian Securities and Investments Commission (ASIC). The trading platform aims to offer CFD instruments like indices, shares, commodities and forex.

The platform is also licensed to operate in other geographical areas like Mauritius, Dubai, Cyprus and Seychelles. This brokerage platform aims at providing the best commission-based and spreads-based trading accounts.

Overview Of GO Markets

Headquarters Melbourne, Australia
Founded in 2006
Regulators FSA, FSC, ASIC, CySEC
Products offered Indices, CFDs, forex, metals and commodities
Minimum initial deposit 200 AUD
Meta trader 4 Yes
Meta trader 5 Yes
Trading fee Low
Inactivity fee No
Withdrawal fee No
Supported currencies USD, EUR, AUD, GBP, NZD, SGD, CHF, CAD and HKD
Customer support 24*7 assistance through calls, chats or emails

What is GO Markets ?

What Are GO Markets?

GO Markets is one of the world’s leading Australian brokers and the best forex broker in Australia. Along with this, the platform is regulated and authorized by the ASIC, Australian Securities and Investments Commission. In addition, it holds a legal license from the Australian financial services. It aims to provide simple and competitive assets for trading purposes. It is accessible by both new and seasoned traders.

Most importantly, the platform offers 350 CFD instruments which include indices, forex, shares and commodities. Not only this, all the traders have access to a wide range of platforms globally recognised by GO Markets like Meta trader4, Meta trader five and many more. These traders can also avail of the facility of trading tools from GO Markets MT4, MT5 Genesis Package, MyFXbook and a-Quant.

What Are The Main Features Of GO Markets?

GO Markets is a highly supportable platform for trading CFD instruments and other commodities. The platform has the following key features:

  • The customers here can trade 350 CFD instruments which include indices, trading forex, shares and commodities.
  • The platform offers two account types to the customers. Standard account and the GO + account.
  • The standard account offers commission-free trading with spreads starting from 1.0 pip. The GO+ account is a commission-based trading account with 0 pip.
  • It offers 50+ currency pairs like AUD/USD, USD/JPY, EUR/USD, USD/CHF, USD/CAD, and GBP/USD.
  • By funding a minimum deposit of 200 AUD, the customers can enjoy the leverage of 500:1 tight spreads from It.
  • The platform gives access to advanced trading features like social trading integration, social indicators from Meta trader four and Meta trader 5, Autochartist services, trading central and many more.
  • It offers exhaustive educational resources through their GO Trading Academy. The academy is full of educational videos, blogs and courses with coaching webinars in multilingual languages. Along with this, the traders can also reach out to the daily news section for regular updates.

Pros and cons of go markets

Pros And Cons Of GO Markets

GO Markets is an international brokerage platform which supports the trading of 350 CFD instruments. The platform has several representative companies from all across the globe, including Mauritius and Cyprus. Here is the list of advantages and disadvantages of trading with it.

PROS CONS
The parent company of GO Markets has been in operation for decades, and its activities are under the regulation of multiple regulators. Small maximum leverage on currency pairs upto 1:30
The platform gives the ability to trade with both ECN and classic accounts No cent accounts are available to the traders
The professional accounts include low deposit size The quality of the online chat support system is low and not up to the mark
The traders get free access to Meta trader Genesis and trading central analytics tools
The trading fee on all types is comparatively low
There are no restrictions on the traders for using different trading strategies
The platform encourages free deposit and withdrawal of funds

 

Regulation Of GO Markets

The operational activities of GO Markets and its parent company are under the regulation of several regulators, including Mauritius and Cyprus. However, it has a licence from the following authorities.

  • Financial Service Authority (FSA) – Seychelles
  • Australian Securities and Investments Commission (ASIC) – Australia
  • Dubai Multi Commodities Centre (DMCC) – Mena
  • Financial Services Commission (FSC) – Mauritius
  • Cyprus Securities and Exchange Commission (CySEC) – Cyprus

Legitimacy Of GO Markets

As per the market review, the experts state that it is a licensed broker with essential registrations to provide a safe and secure trading environment to the traders. In addition, the brokerage platform got its licence to operate under the regulation of ASIC, the Australian Securities and Investments Commission.

Along with this, it has an additional European entity which comes under the regulation of the CySEC license. Different practices help in maintaining the risk management features. For example, it separates the client’s funds at the National Australian Bank (NAB). It is inclusive of the usage policies and margin calls. The European entities fall under the ESMA regulations for customer safety.

Deposits And Withdrawals Of GO Markets

Deposits And Withdrawals Of GO Markets

According to the market review of GO Markets, the platform provides a wide range of choices for deposits and withdrawals. It has options like MasterCard or Visa, Neteller, Skrill, Fasapay, BPay, bank wire transfers and many more. However, these options differ from country to country. In addition to this, the deposits are free of commission, and the rest depends on the method of processing. Moreover, GO Markets does not charge any fee for withdrawals.

How To Withdraw Money From GO Markets?

Here are the steps through which you can easily withdraw your money from GO Markets:

  1. Log in to the client portal of GO Markets
  2. Click on the withdrawal tab
  3. Select your preferable mode of receiving money
  4. Add the amount you wish to withdraw
  5. Click on the confirm tab and wait for the proceedings

Markets Served By GO Markets

The platform offers several trading assets to the traders who fall under the given main markets:

  • The traders have access to trade 50 major and minor exotic currency pairs, which include AUD/USD, USD/JPY, EUR/USD, USD/CHF, USD/CAD, and GBP/USD.
  • The customers of GO Markets can trade more than 200 shares and 80+ NASDAQ and NYSE shares.
  • Under the category of precious metals, the traders can trade silver or gold CFDs irrespective of their long or short positions.
  • In index CFDs, the traders can trade several cash CFDs and futures CFDs.
  • In the commodities sector, the traders have access to trade precious metals and crude oil. The traders can also trade in spot and futures markets.
  • Under the category of cryptocurrency, the traders can trade with Bitcoin, Ethereum, litecoin, Ripple and Bitcoin Cash.

Trading Tools Of GO Markets

The GO Markets broker platform offers several trading tools to the traders like Autocharist, Trading Central Analytics and MyFXbook. These trading tools highlight the trading opportunities from where the traders can use the fundamentals and technical analysis for the execution of profitable trades. MyFXbook is a copy trading tool which is available for traders of all levels. The Trading Central provides a wide range of analytical reports by technical analysts and expert analysts.

Other than these, Autocharist is the most powerful tool for the detection of chart patterns. It’s a technical analysis which simplifies the chart analysis of a novice trader. In addition to all these, it gives access to private VPS services for Meta trader four and Meta trader 5. However, the platform levies 30 AUD from the trader for this service. But the charge is waived off if the trader trades five lots minimum.

How To Start Trading With GO Markets?

The process of opening an account on GO Markets is simple and easy to understand. Follow the following steps for opening an account through their website:

  1. Go to the official website of GO Markets and log in your full name, contact number and email address.
  2. Verify your account with the verification code on the email address.
  3. Familiarize yourself with demo trading, which comes with virtual funds. In this, the traders can use a demo account with the features and functionalities of the platform and also test the various trading strategies.
  4. Once you are confident with the platform after using the demo account, fund your account with an initial deposit of 200 AUD to begin with, live trading.
  5. As soon as you deposit your fund, you can begin with live trading. You can also use the facility of copy trading. Here you copy other traders, win trades and earn more profits.

What Are The Different Types Of Account On GO Markets?

Just like other brokers offer multiple types of accounts to the traders, it offers two types of accounts to the traders for trading. Along with this, it also offers a free demo account for beginners.

Standard Account

For opening a standard account, a trader needs to deposit a minimum of 200 AUD, where they can select MetaTrader 4 or Meta trader five platforms. In this type of account, the spreads start from 1.0 pip with leverage of 500:1.

Demo Account

This account is for free on both MetaTrader 4 and Meta trader five platforms. The traders here get $50,000 in virtual funds and access to the same features and functionalities as the real-time platform. The demo account is for the traders to experience a hang on the platform by practising virtual trading like live trading.

GO+ Plus Account

This type of account is only suitable for high-volume traders. Here the minimum deposit amount is 500 AUD and spreads start from 0 pips. The minimum trade size is 0.1 lots, and the traders get leverage of 500:1.

The Trading Platforms Of GO Markets

The Trading Platforms Of GO Markets

GO Markets offers a wide range of trading platforms for new and seasoned traders. However, it also offers a mobile trading platform application for traders on the go. The traders can download the application from Google Play, irrespective of the device type. Few other trading platforms include:

  • eta trader 4
  • Meta trader 5
  • MyFXbook
  • Web trader

The Bottom Line

GO Markets is one of the leading Australian forex brokers. It excels in offering free demo accounts, customer service, Trading Central, Autocharist and many more. Furthermore, the trader can avail of several payment methods for depositing and withdrawing the funds.

FAQ

What is GO markets minimum deposit?

The minimum deposit at GO Markets is AUD 200. You can open your account and maintain it without any additional trading fees with the broker.

Is GO markets legit?

GO Markets is a legit and highly secure brokerage firm. It is well-regulated by the Financial Services Commission (FSC) of Mauritius.

How good are GO markets reviews?

Overall, the score of GO Markets is good and trust score is also great. Users have strongly recommended the broker because of easy usability and competitive fees.

Is the go market regulated?

The broker is well-regulated by the ASIC, CySEC, and the top-tier financial regulators in Mauritius and Seychelles.

Do Go markets offer no deposit bonus?

No, the broker doesn’t offer any deposit or welcome bonus to its users.

Is Go markets an ECN broker?

Yes, Go markets is an ECN/STP broker based in Australia.

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