GO Markets Broker Review
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 also has offices in London, Taiwan, and Hong Kong. Go Markets has over 60,000 clients, and has built its reputation on reliability, compliance, excellent dedicated 24/5 client support, fast secure executions, and competitive and transparent pricing.
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|
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|
|Dedicated Account Manager||Yes||Yes|
|Commission||No||A3.00 per side|
|Min trade||.01 Lot||.01 Lot|
|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, utility bill, or tax invoice dated within the last three months and issued to your name and address). GO Markets’ services are not available to U.S. Residents.
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|
|Expert advisors (EAs)||Yes||Yes|
|Direct market access||Yes||Yes|
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.
On its website, GO Markets provides its clients with very comprehensive news and education sections on its website that is dedicated to assisting its trader with learning about trading and keeping current on important current events. The education center includes tutorials, webinars, and instructional videos that range from basic to advanced concepts and trading techniques. The News section includes a daily news feed and a current economic and financial calendar.
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