Go Markets
Go Markets is a highly reputable provider of online CFD trading services. Founded in 2006, the company is based in Melbourne, Australia, and is owned by GO Markets Pty Ltd. It is regulated by the Australian Securities and Investments Commission (ASIC) under the AFSL No. 254963. Go Markets has built its reputation on reliability, compliance, excellent dedicated 24/5 client support, fast secure executions, and competitive and transparent pricing.
Markets Offered
Go Markets offers its clients a wide array of 90+ markets including spot forex, CFDs for commodities and indices, cryptocurrencies, and is one of the few rare brokers around the world that also offers binary options trading on the trading platform as well. Below is a list of instruments available for trading at Go Markets.
Go Markets Tradable Instruments
| Asset class | Number of instruments | Spreads from | Margins from | Leverage Upto |
|---|---|---|---|---|
| Forex | 50+ | 0.2 points | vary | 500:1 |
| Indices | 14+ | 0.3 points | 0.05% | 200:1 |
| Commodities | 4+ | 2.2 points | 5% | 500:1 |
| Cryptocurrencies | 5+ | 6 points | 20% | 10:1 |
Account Types
GO Markets’ clients have the option of selecting from 2 types of trading accounts, a Standard trading account, and a GO Markets Plus+ account. Below is a list of details and features for the accounts.
Trading Account Features
| Account type | Standard | GO Plus |
|---|---|---|
| 24/5 Support | Yes | Yes |
| Dedicated Account Manager | Yes | Yes |
| Spreads from | 1.0 | 0.0 |
| Trading Tools | Yes | Yes |
| Commission | No | A3.00 per side |
| Eas Allowed | Yes | Yes |
| Free VPS | Yes | Yes |
| Scalping | Yes | Yes |
| Hedging | Yes | Yes |
| Demo account | 30-Day | 30-Day |
| Micro account | Yes | Yes |
| Islamic account | Yes | Yes |
| Min trade | .01 Lot | .01 Lot |
| Max trade | varies | varies |
| Min deposit | A200 | A500 |
| Available Base Currencies | AUD, USD, EUR, GBP, NZD, CAD, SGD, CHF, HKD | AUD, USD, EUR, GBP, NZD, CAD, SGD, CHF, HKD |
The standard account is for traders that trade small volume that are concerned with paying commissions on each trade, while the GO Plus account is better suited for traders that trade large volume and are more concerned with slippage.
GO Markets charges client for holding trades beyond the close of a trading day into the next day. These costs vary depending on the instrument and the type of position (i.e. long or short) being held overnight, and in some cases may result in a credit instead of a charge.
GO Markets maintains segregated accounts for its retail clients. GO Markets does not charge any internal fees for funding and withdraw transactions for its clients’ accounts, however fund withdrawals to non-Australian banking institutions may be subject to bank fees from any intermediary bank involved in the transaction. Accounts can be funded and withdraws made by China UnionPay, Credit Card, FasaPay, Neteller, Skrill, Wire Transfer.
Opening an account with GO Markets is usually completed within 1 to 2-business days. Documents required are a valid ID (i.e. passport, driver’s license, or national ID), and proof of address (i.e. bank statement or utility bill dated within the last 12 months and issued to your name and address). GO Markets’ services are not available to U.S. Residents.
Trading Platform
GO Markets is know as the first online forex brokerage to employee Meta Trader 4 (MT4) as a trading platform in Australia. GO Markets uses MT4 and MT5 as its primary trading platforms. MT4 is a very popular platform that is widely used by the forex trading community. It has features and trading tools that accommodate every level of traders from a beginner that is learning the basics, to advanced traders that programs, backtests, and implements sophisticated algorithmic trading systems.
MT5 is Meta Trader’s latest version. It has been equipped with some expanded capabilities, but for all practical purposes related to forex and CFD trading, it’s very similar to MT4. There are many online MT4/MT5 resources and communities, some free and some not, that can be referred to for assistance in learning and mastering the platform. GO Markets traders’ also have access to other sophisticated Meta Trader trading tools such as the Autochartist, MT4 Genesis, VPS, MT4 mobile trading apps, and Myfxbook. The GO Markets MT4 and MT5 platforms allows for the following features and tools.
MT4 and MT5 Trading Platform Features and Tools
| Platforms & Tools | MT4 | MT5 |
|---|---|---|
| Stop loss Orders | Yes | Yes |
| Limit orders | Yes | Yes |
| One-click trading | Yes | Yes |
| Trailing stops | Yes | Yes |
| Expert advisors (EAs) | Yes | Yes |
| Direct market access | Yes | Yes |
| STP broker | Yes | Yes |
| ECN broker | Yes | Yes |
| Market maker | Yes | Yes |
| Price alerts | Yes | Yes |
| Signal trading | Yes | Yes |
| Watchlists | Yes | Yes |
| Charting tools | Yes | Yes |
| Mobile Trading | Yes | Yes |
| iOS App | Yes | Yes |
| Android App | Yes | Yes |
| Windows App | Yes | Yes |
Education
GO Markets provides an exhaustive education section dedicated to assisting you with learning about trading and keeping current on important events.
Education Hub is the main section where you can find educational content on GO Markets’ website. The broker categorizes the content into nine sections, with two being beginner courses about forex. You can enroll in the courses by registering an account.
The website regularly updates its News & Analysis section with fresh articles to keep you up-to-date with the marketing news. The company also uploads many market analysis articles to help you get a well-rounded view of the current market.
GO Markets has a YouTube channel that it regularly updates. You can find YouTube playlists filled with tutorials such as GO Technical Training. The broker uploads videos in English and Mandarin.
The broker has a podcast called Margin Call, where you can listen to the behind-the-scenes situation of people who work in the Forex/CFD industry. It is produced by Neuralle Media, with Jordan Michaelides as the guest host.
GO Markets provides a customizable calendar that you can use to stay updated on important announcements from major regions. With this feature, you will know about upcoming low, medium and high-impact events to prepare your positions and place stop-loss orders.
There’s also the economic calendar feature, where you can view previous, consensus and actual results simultaneously. It also indicates the anticipated level of market volatility: low, moderate, or high.
By selecting the ‘Show Filters’ option below, you can modify your view, which allows you to perform a keyword search, specify a date range and a nation, and select interest categories. These categories include capital flows, economic activity, bond sales, the housing market, inflation and more.
GO Markets offers demo accounts that you can use to evaluate its services and features as well. But you can also use this feature to familiarize yourself with trading platforms. By using a demo account, you will not lose any money while in the learning stages.
Customer Support
GO Markets offers customer support 24 hours a day during the entire trading week. Communication with the support team is available by email, live chat or by calling the support team via telephone. Languages supported include Chinese, English, French, German, Indonesian, Malaysian, and Vietnamese.
For further information on the:-
Safety
Is GO Markets safe?
GO Markets is under the regulations of the Cyprus Securities and Exchange Commission (CySEC), the Australian Securities and Investments Commission (ASIC) and the Financial Services Commission of Mauritius (FSC).
GO Markets holds an Australian Financial Services Licence (AFSL) from ASIC. The company must encrypt all its client’s personal information and funds to gain this license. It employs SSL encryption to protect sensitive customer information and digital firewalls to prevent hackers from accessing clients’ data.
The AFSL also requires the company to keep the money in separate accounts. GO Markets has decided to hold the funds in two of Australia’s top-tier AA-rated banks, The National Australia Bank and Commonwealth Bank.
GO Markets houses its servers in the Equinix LD4 data centers, which offer a low latency environment to carry out your trades. The company has several subsidiaries that provide different levels of investment protection. EU users will receive protection of up to €20,000 or around US$20,000. However, you will not receive any protection if you are from Australia or other countries. The broker also offers negative balance protection, safeguarding you if your account balance goes negative. However, clients from Mauritius will not be covered under this protection.
GO Markets has received a variety of awards for its features and services. It won numerous Investment Trends Awards from 2019 to 2021. In 2022, the company received two awards: International Business Magazine Awards and Global Forex Awards. It was even named the Most Trusted Forex Broker in Europe by Global Forex Awards.
FAQ
What distinguishes Standard and GO Plus+ trading accounts?
A GO Plus+ account offers tighter spreads. However, every trade you make on a GO Plus+ account will be subject to a commission fee.
How quickly will my withdrawal be processed?
All withdrawal requests received before 1 p.m. AEST will be processed the same day. After 1 p.m. AEST, withdrawal requests will be processed the next day. Local transfers can take 1-2 business days, and international transfers can take 3-5 days for your funds to appear in your account balance. Keep in mind this primarily depends on the receiving bank you are using.
Why am I unable to use my demo account?
You can only access your demo account for 30 days. You can always sign up for another demo account if you need more time to evaluate GO Markets’ services before registering. On the MT4 platform, select File, click on Open an Account and follow the on-screen directions.
Why haven’t I gotten my trading statements?
If you had any trading activity the day before, you would receive a daily statement. However, occasionally your email service provider may mistakenly classify them as spam. You can also add GO Markets’ email to your email whitelist to prevent it from happening.
Can I change my password?
Yes, you can change your password through GO Markets Client Portal. You can also change your MetaTrader 4 trading platform’s password. Click on Tools, then select Options and find the Server tab. You will see a Change button that you can use to change your master or investor passwords.
Pros
- Registered and regulated in Australia by the ASIC. Operating since 2006, offers most of the standard FOREX and commodity products
- Offers a new kind of account that charges a flat rate of A$3.00 per trade, with no markup of the spread
- Low trading and financing fees for all its accounts, low initial deposit of $200 USD
Cons
- Limited number of options when it comes the trading platforms clients can use
- The broker doesn’t offer Islamic accounts.
Fixed spreads
Variable spreads
Stop losses
Limit orders
One-click trading
Trailing stops
Expert advisors (EAs)
Virtual private server
Direct market access
STP broker
ECN broker
Market maker
Price alerts
Signal trading
Watchlists
Charting tools
iOS App
Android App
Windows App
Major Stock markets (US UK Germany)
Indices
Penny stocks
Forex
Majors
ETF
CFDs
Bitcoin
Commodities
ETFs
IPO
Options
Futures
Bonds
Hong Kong stocks
Japanese stocks
Listed on Stock Exchange
Scalping
Hedging
Demo account
Islamic account
Micro account
Standard account
VIP account
Zero spread account
Managed account
Credit cards
Bank transfer
PayPal
Neteller
Skrill
Electronic wallets