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GO Markets Reviews 2024 – Pros And Cons Of (GOMarkets)

GO Markets- Everything you need to Know

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 likewise licensed to function in different geographical areas like Mauritius, Dubai, Cyprus and Seychelles. This brokerage platform pursuits at supplying the quality fee-based and spreads-based buying and selling debts.

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 Australian financial services. It aims to provide simple and competitive assets for trading purposes. It is accessible to 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 its 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 that 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 in line with the market overview, the professionals nation that it’s far an authorized broking with important registrations to offer a safe and steady buying and selling environment to the traders. In addition, the brokerage platform got its licence to operate beneath the regulation of ASIC, the Australian Securities and Investments Commission.

Along with this, it has a further European entity which comes beneath 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

GO Markets offers various deposit and withdrawal options, as mentioned in their market review. These include MasterCard, Visa, Neteller, Skrill, FasaPay, BeePay, bank wire transfer, and others. It’s important to note that these options may differ depending on the 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.

Read also: Best CSGO Trading Sites Ever

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 traders who fall under the given main markets:

  • The investors have get admission to to exchange 50 main and minor exotic forex pairs, which include AUD/USD, USD/JPY, EUR/USD, USD/CHF, USD/CAD, and GBP/USD.
  • The clients of GO Markets can exchange extra than two hundred stocks and 80+ NASDAQ and NYSE shares.
  • Under the class of valuable metals, investors can change silver or gold CFDs no matter their long or short positions.
  • In index CFDs, investors can exchange several coins CFDs and futures CFDs.
  • In the commodities sector, the investors have get entry to to change valuable metals and crude oil. The buyers can also alternate in spot and futures markets.
  • Under the class of cryptocurrency, buyers can change 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 that is available for traders of all levels. 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 that 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. The process of commencing an account on GO Markets is straightforward and smooth to recognize. Follow the following steps for commencing an account thru their internet site:
  2. Go to the legitimate internet site of GO Markets and log in with your complete call, contact range and electronic mail cope with.
  3. Verify your account with the verification code on the email cope with.
  4. Familiarize yourself with demo trading, which comes with virtual finances. In this, the investors can use a demo account with the capabilities and functionalities of the platform and additionally check the diverse buying and selling strategies.
  5. Once you are assured with the platform after using the demo account, fund your account with an initial deposit of two hundred AUD to start with, stay trading.
  6. As quickly as you deposit your fund, you could start with stay trading.
  7. 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 a couple of varieties of money owed to the investors, it gives  kinds of money owed to the buyers for buying and selling. Along with this, it additionally gives a free demo account for beginners.

Standard Account

For starting a trendy account, a trader needs to deposit not less than two hundred AUD, wherein they are able to pick out MetaTrader four or Meta dealer five structures. In this form of account, the spreads start from 1.0 pip with a leverage of 500:1.

Demo Account

This account is 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 a leverage of 500:1.

The Trading Platforms Of GO Markets

The Trading Platforms Of GO Markets

GO Markets offers a wide variety of trading structures for new and seasoned buyers. However, it additionally offers a cell buying and selling platform application for buyers on the move. The buyers can download the utility from Google Play, no matter the device kind. A few different buying and selling systems include:

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

The Bottom Line

GO Markets is one of the leading Australian foreign exchange brokers. It excels in presenting free demo money owed, customer service, Trading Central, Autocharist and lots of greater. Furthermore, the trader can avail of numerous fee methods for depositing and chickening out the budget.

FAQ

What is the GO market’s minimal deposit?

The minimal deposit at GO Markets is AUD 200. You can open your account and maintain it with none additional trading charges with the dealer.

Is GO markets respectable?

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

How good are GO markets reviews?

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

Is the going market regulated?

The dealer is nicely-regulated through the ASIC, CySEC, and the top-tier financial regulators in Mauritius and Seychelles.

Do Go Markets offer no deposit bonuses?

No, the broking doesn’t provide any deposit or welcome bonus to its users.

Is Go Markets an ECN broker?

Yes, Go Markets is an ECN/STP broking primarily based in Australia.

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Karla brings over 16+ years of experience in the online brokerage industry. She is a finance graduate from Birmingham University, UK, and a forex market enthusiast. Being a true writing fanatic, she pens research-backed reviews for traders to analyse trading strategies and indicators. She has also authored a wide range of educational articles covering the forex industry. Karla is quite interested in checking brokerage companies and studying their performance and growth. Her aim is to describe complex investment mechanisms in an accessible way for traders of any level. Apart from finance, her interests mainly include reading books, fitness, and writing in her journal. Karla believes in the power of writing and wants to write for every layman who knows nothing about finance.
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