GO Markets

GO Markets homepage

GO Markets

4.2 rating

GO Markets strives to be the first choice for trading CFDs for aspiring and experienced traders

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GO Markets

 

Broker Presentation

GO Markets – considered by many to be the first MetaTrader4 broker to open in Australia – has more than a decade of experience in this part of the world, and represents the southern hemisphere with distinction on the global trading stage.

Aiming to offer the best trading experience possible, GO Markets strives “to be the first choice for trading CFDs for aspiring and experienced traders”. 

GO Markets provides a solid collection of financial instruments available for trading, with more than 350 CFDs on Forex, Indices, Shares,  Commodities and Cryptocurrencies

Launched in 2006 in Melbourne, Australia, GO Markets now has clients across the globe in over 150 countries and has branches in Melbourne, London, Taipei and Hong Kong

GOMarkets Global Locations
Figure 1: GO Markets global locations

Over their years in the business, GO Markets has justifiably gained the reputation of a trustworthy, forward-thinking and intuitive trading company. Their Forex offering appeals to newbies and experienced traders alike and is highlighted by advanced technologies, competitive spreads, improved trading conditions and compliance with regulations. Their fast execution of orders, access to multiple liquidity providers and comprehensive educational resources are a major reason for their success.

GO Markets is licensed and regulated in Australia, with their headquarters in Melbourne. Unsurprisingly, and as with most brokers, GO Markets is an advocate of the world-famous MetaTrader family of platforms produced by MetaQuotes Software Corporation.

As recognition for their outstanding activity and reliable services, GO Markets has been awarded a series of prestigious awards, the most recent of which were those awarded by the Investment Trends in their Australia Leverage Trading Report of December 2019. GO Markets was the winner of the “Educational Materials/Programsand Customer Servicecategories. 

Safety and Regulations

Score: 3 out of 5

When choosing a broker, savvy investors and traders will always check their licenses and regulating authorities. The security of a trader’s funds is paramount. 

GO Markets is regulated by the Australian Securities & Investment Commission (ASIC) in Australia, with the license number AFSL 254963 for GO Markets Pty Ltd. 

GO Markets has consistently complied with the rigours of the regulation and the standards of law, ensuring clients’ investments are safe and secure.

Clients’ funds are held in segregated accounts which are in the custody of prominent Australian banks, such as Commonwealth Bank and National Australia Bank. “Segregated accounts” means that the funds deposited by clients in their trading accounts with GO Markets are kept in separate accounts from those of the company. These funds are not accessible for the broker’s current operations and, in the case of financial struggles, client funds will not be affected.  

GO Markets’ clients are able to check all legal details and policies related to GO Markets’ activity via their website’s “Legal” page. On this page you can see all the policies put in place for the smooth development of your trading activity with GO Markets. For example, General Advice Warning, ASIC Regulatory Benchmarks, Hedging Policy, Data Protection, Fair Usage Policy, etc.

Plus, given that all trading operations are done online (account opening, deposit, withdrawal, etc.), GO Markets has implemented standard digital security processes. For example, firewalls to protect their servers, secured socket layer (SSL) protocol implemented for the websites and platforms and encryption protocol for data protection.

GO Markets ASIC License
Figure 2: GO Markets ASIC license

Offer of Financial Instruments

Score: 3.5 out of 5

GO Markets is primarily a Forex broker, so they rely heavily on Forex trading. However, you can also trade a range of other popular classes of assets, such as CFDs like shares, indices, commodities or cryptocurrencies. In total GO Markets offers over 350 financial instruments, a selection that would be considered satisfactory by both beginners and pro traders.

GO Markets’ offer of financial instruments comprises the following:

  • Forex –  50+ currency pairs (6 major pairs, 20 minor pairs, 24 exotic pairs and two metals related XAG/USD, XAU/USD)
  • Shares – CFDs on shares, a selection of 200 important shares traded on the Australian stock exchange and other prominent exchanges like NYSE & Nasdaq
  • Indices – 14 indices available as CFDs, 12 cash indices – FTSE 100, DAX 30, US 500, US 2000, ASX 200, HK 50 –  and 2 futures index China A50 and US Dollar Index
  • Commodities – 4 commodities traded as CFDs including spot metals – gold and silver and spot energies – oil
  • Cryptocurrencies – 5 cryptocurrencies traded as CFDs, not as assets – Bitcoin, Ripple, Litecoin, Ethereum and Bitcoin Cash
  • Metals – the most popular precious metals gold and silver are tradeable as CFDs on pre-set lot sizes. The lot size for gold equals 100 oz, and for silver it’s 5,000 oz.

Leverage is another important tool that experienced traders pay attention to. GO Markets allow maximum leverage on most assets, like 1:500 for Forex and commodities, 1:200 for indices and 1:10 for cryptos. Leverage is a great tool that allows traders to multiply their earnings with low deposits, if they know what they are doing. However, the reverse is also true; losses are multiplied not just profits. Leverage is a double edged sword. Use it wisely. 

GO Markets financial instruments
Figure 3: GO Markets’ financial instruments offering

Differentiation Elements and Unique Features

Score: 4.8 out of 5

You may wonder why GO Markets is a contender with the most prestigious Australian brokers. What makes them outstanding? 

Well, they are a regulated broker, but all leading brokers are. They have a good selection of trading instruments, but, again, all top brokers have that. 

Here are the major reasons why GO Markets are such a distinguished trading provider:

  • AutoChartist
  • MT4 & MT5 Genesis
  • Trading Central
  • VPS 
  • a-Quant
  • Myfxbook
  • Education Centre

Autochartist 

Autochartist is a chart pattern recognition tool, used extensively by traders worldwide. GO Markets makes Autochartist free for live accounts with a balance larger than $500. 

Autochartist’s features include price action alerts, event impact analysis, volatility analysis, and a built-in automated trading feature, among others.

Autochartist scans a variety of markets – e.g. currencies, indices, commodities – and analyses the charts to identify the trends and charting patterns to deliver you alerts when such patterns are identified. 

Autochartist has the great advantage of providing live trading opportunities via email several times a day.  

Autochartist generates performance statistics related to both the successful trading setups and those that generated losses over the past six months. Its volatility analysis system delivers useful insights on the intervals of volatility in various markets, including which instruments you should select in accordance with your risk profile and which would be appropriate exit points.

GO Markets Autochartist
Figure 4: GO Markets’ Autochartist offering. Source: Go Markets

MT4  & MT5 Genesis 

MT4 & MT5 Genesis is a plugin for MetaTrader made up of a selection of expert advisors (EAs) to help you lift your trading activity to the next level.  The plugin’s primary purpose is to facilitate your trading operations and offer access to advanced tools with just a few clicks. 

MT4 & MT5 Genesis is accessible only for Forex, Indices and Commodities. It aims to simplify your tasks and improve your trading experience by employing a complex order management and alerts system which informs you about current trading opportunities. 

The most important features of the MT4 & MT5 Genesis plugin are:

  • Terminal Window – a center of command that facilitates the management of your orders and account
  • Mini Terminal  – an advanced tool to help you organise the charts of instruments that interest you, as well as shortcuts to manage trades directly from charts
  • Sentiment Indicator – a useful indicator that delivers market insights and displays the evolution of market sentiment 
  • Correlation Trader – a tool offering support in correcting money management errors and identifying trading opportunities 
  • Session Map – an interactive indicator which precisely reveals the beginning of trading sessions on various global exchanges 
  • Market Manager Window – allows you to keep an eye on your trades while dealing with other non-trading tasks
  • Alarm Manager – a tool that sends you notifications according to your specifications. It also has the ability to trade automatically 
  • Economic News Calendar – since fundamental news is important for any trader, following official news, gathering data that other traders release on social media and collecting them in one place is highly useful
  • Correlation Matrix – view correlation scores and consult the scores for various patterns. Very useful to look at occasionally.
GO Markets MT4 and MT5 Key Features
Figure 6: GO Markets MT4 and MT5 Key Features. Source: GO Markets 

Trading Central 

Trading Central is a leading tech company which provides financial market research. GO Markets is partnered with Trading Central in order to provide their clients sophisticated trading tools like innovative indicators, trading opportunities, advanced market analysis and back-tested strategies.

The most remarkable characteristics of Trading Central are:

  • Technical Insight – executes technical analysis on a wide range of financial instruments and offers insights to support traders in their strategy optimisation. 
  • Analyst Views – a unique financial market research tool that combines algorithmic trading with senior analysts’ expertise. It is a pattern recognition app that monitors the markets around the clock, covers a large spectrum of instruments, and offers analysis when significant criteria are met. 
  • Newsletters – this feature provides alerts, investments insights and trading ideas via email.
  • Alpha Generation is a set of innovative indicators that help with the identification of trading opportunities, entry and exit levels for trades, and market psychology. 
  • TC Research Platform – combines multi-asset research with pattern recognition to support profitable trading activity. 

Virtual Private Server (VPS) 

VPS is a service for advanced traders that need a stable internet connection with adequate speed. 

Many traders use algorithmic methods, with EAs and have complex trading strategies in place. This means they need to skip on connection failures. Here, the VPS service provides a continuous access to all trading algorithms, remote access to the trading high tech infrastructure and direct access to global pools of liquidity. 

VPS is a supplementary service which carries a separate fee starting at $10 per month. This service is provided for free by GO Markets if your monthly trading volume is over $1 million. 

GO Markets VPS
Figure 7: GO Markets VPS

a-Quant

a-Quant produces top level trading apps based on Machine Learning (ML) and Artificial Intelligence (AI) algorithms. GO Markets is partnered with a-Quant to provide their clients Daily Strategies – a world class signal service for Forex traders. This delivers traders a number of signals that may be used in high frequency trading, with the signals identified via algorithms, AI and ML.

Daily Strategies produces approximately 9-12 signals each day on most popular Forex pairs. To come up with these signals, a-Quant aggregates millions of data points gathered from the most reliable 12 data sources and employs a mix of machine learning algorithms, sentiment analysis, technical analysis and clustering. The purpose is to generate trading signals with high profitability potential in certain risk conditions.

Go Markets a-Quant
Figure 8: Go Markets a-Quant

Myfxbook

The social trading feature of GO Markets is conducted by Myfxbook and includes a “copy trade” option which allows GO Markets clients to automatically copy the trades of more experienced and/or successful traders. Myfxbook is a community of over 90,000 traders spreaded across the globe. 

Myfxbook is a curated service, which means that all traders that are available for the copy trade feature are initially approved by Myfxbook. 

Myfxbook can be accessed from your web browser. You have full control over your trades and can modify them or close when you consider appropriate. Myfxbook also provides you with access to analytics and statistics related to your trading activity. 

To benefit from Myfxbook, you need to open a standard account with GO Markets and have a minimum balance of $1,000 (or equivalent currency).

GO Markets Myfxbook
Figure 9: GO Markets Myfxbook

Education Centre

Another feature that distinguishes GO Markets from their competitors is their comprehensive Education Centre. If you are beginning to trade or even if you’re a pro with years of experience, everyone can learn from GO Markets’ extensive collection of resources. 

The Education Centre most benefit new traders, who can access the GoTradeAcademy, Forex ebooks, courses, video and written tutorials, a wide range of articles as well as webinars and seminars. 

International Presence – Covered Countries

Score: 4.5 out of 5

GO Markets is an international Forex broker that provides their services across the world in eight different languages. However, there are some notable countries which are not covered: the United States of America, Canada, Israel, Japan, Belgium, New Zealand, Turkey and Vietnam. 

There are also a range of countries which (in one way or another) restrict the type of services provided by GO Markets. These are: Azerbaijan, Botswana, Afghanistan, Bosnia and Herzegovina, Burundi, Congo, Central African Rep,  Eritrea, Ivory Coast, Ethiopia, Haiti, Ghana, Iran, Guinea Bissau, Pakistan,  Iraq, Libya, Lebanon, Myanmar, North Korea, Nicaragua, Serbia, Somalia, Sierra Leone, South Sudan, Trinidad and Tobago, Sudan, Palestine, Syria, Bahamas, Yemen, Tunisia, Venezuela  and Zimbabwe.

Account Types

Score: 3.5 out of 5

GO Markets provides two types of accounts to their clients:

  • Standard Account
  • GO Plus+ Account
GO Markets Account Types
Figure 10: GO Markets Account Types

Standard Account

This type of account is dedicated largely to beginners. Its most relevant features are:

  • A minimum deposit of 200 AUD
  • Spreads start at 1 pip and there are no commissions
  • Instruments: 50 + Forex pairs and CFDs on cryptocurrencies, shares, indices and Commodities 
  • Leverage 1:500
  • Account currencies may be AUD, EUR, USD, GBP, CHF, CAD, NZD, SGD, HKD
  • Trading tools accepted: EAs, VPS
  • Hedging and scalping allowed

GO Plus+ Account

This type of account is the best option for intermediate and advanced traders who are aiming to use EAs and trade with high volumes. With a GO Plus+ account, traders can access the market directly without a dealer’s intervention. That translates into better costs, lower spreads and a faster execution of orders. The GO Plus+ account’s main characteristics are:

  • A minimum deposit of 200 AUD
  • Spreads start at 0 pip and there is a $3.00 commission
  • Instruments: 50 + Forex pairs and CFDs on cryptocurrencies, shares, indices and Commodities 
  • Leverage of 1:500
  • Account currencies may be AUD, EUR, USD, GBP, CHF, CAD, NZD, SGD, HKD
  • Trading tools accepted: EAs, VPS
  • Hedging and scalping allowed

It’s possible to open an account as an individual trader, a joint account, a company account or as a trust/superannuation fund.

Account Opening

Opening a live trading account with GO Markets is a simple process. Just click on the ‘Open a live account’ button you can see on almost every page of the site (at the top)

To open an individual account you will need to complete a five page form and include your personal details (name, date of birth, phone, email), information about yourself, trading preferences, identity check, fund and trade. Once your personal details are inserted, you will be directed to your Individual Account on GO Markets where you can make financial operations and access reports and a range of other useful tools. 

Taking into consideration that GO Markets is a regulated broker, you will need to provide documents that prove your identity before finishing the registration process.

Go Markets Account Registration
Figure 11: Go Markets Account Registration. Source: GO Markets

Demo Account

As with all reputable Forex brokers, GO Markets offers their clients a demo account that can be used to test their services.

GO Markets’ demo account comes preloaded with funds of $50,000 or equivalent, has an expiration interval of 30 days and can be used on MetaTrader 4 and 5’s desktop and mobile versions. 

A demo account allows you to test GO Markets’ services, as it will show you all the conditions of a live account without needing to involve your trading capital. 

If you’re just beginning to trade then using a demo account is an absolute must as you figure out how the financial markets work and what the trading activity implies. Use the demo account to learn how to trade and build your trading strategies without spending money. Remember to start small on a live account and invest in financial markets only the amount of money that you can afford to lose.

If you are already an established trader, use the demo account to test the services of other brokers if you think you need improved or superior trading conditions. You can also use the demo account to test trading strategies and new EAs as well as backtesting them. By doing so you can spare yourself from otherwise costly mistakes. 

Spreads, Fees and Commissions

Score: 4.4 out of 5

GO Markets’ spreads and commissions depend on the type of account a trader has and can also vary with the instrument being traded. GO Markets offers variable spreads. 

Standard account holders pay just spreads and no commissions, while GO Plus+ account holders pay lower spreads but some fixed commissions. Quotes are derived from a selection of 22 liquidity providers.

Taking these factors into consideration, our GO Markets broker review considers that it is a competitive broker in Australia in terms of fees and commissions. GO Markets is a good option for traders aiming to get the lowest trading costs. 

It is also worth noting that with GO Markets, traders can change their desired leverage as per their preferences. By default, all accounts have a set leverage rate of 1:100.  A trader may, however, change his leverage to anywhere between 1:1 to 1:500 taking into consideration his trading balance.

Forex trading

Average spreads are listed on the GO Markets website. For Forex pairs they start at 0.2 pips for instruments like EURUSD or USDJPY, while the leverage for Forex pairs can go up to 1:500, the maximum allowed in the industry. All details about Forex trading are provided in the Products tab.

GO Markets Forex Spreads
Figure 12: GO Markets Forex Spreads

Share Trading

GO Markets provides share trading services only in the form of CFDs, which means you cannot buy stocks as assets. You can, however, trade CFDs having as support stocks listed on the ASX, NYSE and Nasdaq. 

To trade CFDs on shares you pay some commissions when the trade is opened and closed. Shares can be traded only on MT5 and the leverage is 1:20.

Costs associated with trading CFDs on shares are:  

GO Markets Share CFD trading
Figure 13: GO Markets Share CFD trading

Cryptocurrency Trading

The hottest trend in the trading world in recent years is cryptocurrencies. With GO Markets, you can trade CFDs on Bitcoin, Ripple, Ethereum, Bitcoin Cash and Litecoin with a 20% margin.

As with most Forex brokers, GO Markets charges swaps (overnight fees) at the end of each day. Unlike some other brokers, however, there is no inactivity fee when trading with GO Markets. 

Deposits and Withdrawals 

Score: 4.5 out of 5

All deposits and withdrawals with GO Markets will be executed from a trader’s Client Portal. To access the Client Portal you will need to login on the GO Markets site. Inside the Client Portal you can then choose a payment method that best suits you. Be aware, however, that you will need to use the same method to deposit and to withdraw funds. For example, if you deposit via credit card you will have to withdraw via credit card and not via some other method, like Neteller.

GO Markets does not operate third party transactions, meaning you will have to deposit and withdraw from an account under your own name. 

GO Markets does not charge fees for deposits and withdrawals. There may, however, be fees incurred for international payments.

Overall, GO Markets presents a standard collection of payment methods:

  • Credit/Debit Card – MasterCard and Visa. Processed instantly
  • Online Payment gateways: POLi, BPay and Fasapay. In general, payments via these methods are processed in a few hours. 
  • e-Wallets: Skrill and Neteller. Processed instantly. 
  • Bank Transfer. Payments are executed in 2-7 business days, depending on the financial institutions involved. 

Withdrawals are processed within the same day if requests are made before 1 PM Sydney time, and the following business day if the request is made after 1 PM. 

GO Markets payment methods and accepted currencies
Figure 14: GO Markets payment methods and accepted currencies

Minimum Deposit

Score 4.8 out of 5

GO Markets imposes a minimum deposit of 200 AUD, a level that permits virtually anyone to start trading. This level of minimum deposit is competitive among Australian brokers, even if there are some other brokers that do not impose any minimum. The reality is that if you want to see decent results with your trading activity you will have to start with a decent sum. You can, of course, start with the minimum – this would even be recommended for beginners – but, if you want to make consistent profits then trading with only a couple hundred dollars will not be enough most of the time.

Desktop Trading Platforms

Score: 4.3 out of 5

GO Markets is a MetaTrader broker and thus they use the world-famous suite of platforms produced by MetaQuote Software Corporation which is used by most traders around the world. GO Markets was among the first brokers who brought MT4 to Australia.

Besides the standard offer of MetaTrader, GO Markets also provides a collection of plugins and add-ons to improve their customers’ trading experience and performance. These add-ons are: MT4 & MT5 Genesis, AutoChartist, VPS, Myfxbook, a-Quant.

GO Markets offers the entire suite of MetaTrader platforms:

  • MetaTrader 4 
  • MetaTrader 5
  • MetaTrader Web Trader
GO Markets Metatrader
Figure 15: GO Markets Metatrader

MetaTrader 4

MetaTrader 4 is arguably the most used trading platform in the world and is particularly well-suited for Forex traders. It has versions for Windows, Mac and mobile. 

GO Markets MetaTrader 4 advantages: 

  • Has a functional interface (whilst not exactly being particularly aesthetic) 
  • Is secure, stable, flexible, fast and highly responsive
  • Allows Forex, commodities and indices trading
  • Is entirely customisable
  • Has advanced charting features with 9 timeframes
  • Allows automated trading with expert advisors
  • Provides indicators that monitor the market’s evolution
  • Offers MT4 Genesis for accounts with a balance higher than $500, a feature which brings superior order-management, alerts systems and trading ideas, plus a more hands on trading execution from trader’s points of view (shortcuts, miniterminal, etc.)

If you need guidance and assistance to use MT4 feel free to check the MT4 user guide and the video tutorials provided.

MetaTrader 5

MT5 is the improved version of MT4 and is a multi asset and multifunctional platform. Its aim is to provide an integrated trading experience.

GO Markets MetaTrader 5 benefits: 

  • Superior order management capabilities – supports all order types 
  • All financial instruments provided by the broker are available
  • User-friendly interface 
  • Superior charting with 21 timeframes
  • Full EA functionality and MetaTrader market where clients can buy EAs, indicators, and other trading tools
  • Market depth with latest price quotes
  • VPS support
  • Over 80 technical analysis instruments – 38 technical indicators and 44 technical analysis objects
  • Market depth insights
  • One click trading
  • Hedging and social trading allowed
  • Market news streamed live inside the platform 

GO Markets MetaTrader WebTrader

If installing apps is not exactly your favorite activity, you can avoid the app version of MetaTrader by using the WebTrader. WebTrader opens directly in the browser from any type of device whilst still conserving most features of the app. 

To download the MetaTrader platform of your interest, access the “Platforms” section on the GO Markets site and choose the version that you need.  

Mobile Trading Platforms

Score: 4.3 out of 5

Today, almost everyone has a smartphone in their pocket and traders are no exception. Traders need to watch their trading activity when they are not in front of their computer, and hence GO Markets provides the mobile versions of MT4 and MT5 for iOS and Android. 

Both are available on the broker’s website or on the Google Play or AppStore. The mobile versions have all the essential features of the desktop app:

  • Ability to monitor the market on the go and trade on the go
  • Accessibility of real-time quotes, charts and technical analysis tools
  • View your trading history
  • Follow economic news and events
  • Various types of orders are available, including limit orders, market orders or stop orders

Configure Trading Accounts

To configure your account and start trading you need two things – the credentials provided by the broker and the trading platform installed.

To install the MetaTrader platform go to the “Platforms” section on the GO Markets website and download the file corresponding to the version you are interested in. After that, follow the step by step instructions to install. If you need help then check the tutorials presented in the Platforms section. 

Training, Education and Resources

Score: 4.8 out of 5

Education is a clear strength for GO Markets. They provide a comprehensive collection of resources and tools to help their clients sharpen their trading skills and constantly update their trading knowledge

With the aim of putting at their clients’ disposal all the needed information and research involved in trading, GO Markets has developed a reliable “News” section on their website to provide analytics support.

The “News” section contains:

  • GO Daily News – presents daily and weekly market overviews made by the GO Markets’ team of analysts. The daily overviews present the current situation of the equity markets, currency markets, commodities markets as well as the most important events of the day and their expected impact on the market. 
  • Weekly Summary – Each week GO Markets’ specialists produce an overview of the week ahead and list any expected events and their possible impact. This is a detailed fundamental analysis of the markets. Some examples are: Week Ahead – OPEC Meeting in the Limelight; Weekly Summary: OPEC+ Agreement, Earnings and Economic Data; Weekly Summary:  Oil Crash and Virus Trials
  • Articles –  GO Markets analysts write regular in-depth analysis of news, events and trading opportunities that are shared with their clients. You can find information related to Central Banks, cryptocurrencies, geopolitical events, trading strategies etc.
  • Economic Calendar –  Summarises the scheduled global economic events and economic indicators to be released.  
  • Margin Call Podcast – A podcast series called “Behind the Scenes in the Forex Industry”, where prominent players in the Forex/CFD industry speak about their experiences and provide insights and tips.
GO Markets News and Analysis
Figure 16: GO Markets News and Analysis

GO Markets has built a strong educational centre that includes Forex courses, eBooks, articles, videos, weekly webinars and the GO Trade Academy.

  • Forex courses: Like First Steps in Forex, Next Steps in Forex, Share CFDs course and Inner Circle Weekly Webinar 
  • Forex Trading: Includes 3 eBooks; the Forex Trading Handbook, Forex Trading eBook and Advanced Forex Trading eBook plus a series of 10 video lessons.
  • Introduction to Forex – explains basic Forex concepts – a section for beginners
  • GO Trade Academy – combines all the educational resources created by GO Markets to provide an integrated learning experience and a learning management system that tracks and evaluates your progress.
GO Markets GO Trade Academy
Figure 17: GO Markets GO Trade Academy

Customer Support

Score: 4.3 out of 5

Customer support is an important function of a Forex broker, as unreliable client relations can easily convert into lost opportunities in the financial trading world. GO Markets offers multilingual support in eight languages, 24 hours 5 days per week during trading hours. 

GO Markets may be contacted via:

  • Chat online – the chat window pops up when you enters the site. Any questions will be answered in less than one minute.
  • Web Form Contact
  • Email
  • Phone
  • Social Media

The GO Markets Frequently Asked Questions section is well organised to help traders quickly find answers to their most common questions. 

If there’s a technical issue, you can access the GO Markets remote support application: GO Markets Quick Support. This app allows the broker’s support team to securely connect to your computer and solve your technical problem.

Bonuses and Promotions

GO Markets is regulated in more relaxed jurisdictions and as a consequence they are able to offer promotions and bonuses.

As of 2020, the following promotions are valid:

  • 30% Trading Credit Bonus –  For a deposit of minimum $1,000 and maximum $20,000, each client will receive a 30% credit bonus. Offer valid until June 30, 2020 for GO Markets MT4 Trading Account.
  • Refer a friend – When you recommend GO Markets trading services to a friend, both of you will receive $100 each in certain circumstances.
  • Volume Rebates for Traders – Cash rebates are offered for monthly high trading volumes across Forex, Indices, Metals and Commodities. Check the details to see if you are eligible. 

Trading Experience

GO Markets’ declared mission is to serve each trader, irrespective of their knowledge level, experience or trading style. 

GO Markets offers solid trading services with competitive spreads; the most used trading platform in the world (MetaTrader) and a selection of the most traded financial instruments. 

GO Markets is a good option for beginner traders that are just starting their activity in the financial markets thanks to their strong educational resources. 

However, we also recommend GO Markets for more advanced traders that require automated trading features, social trading facilities and a combination of trading styles like hedging and scalping.

Pros and Cons

Pros:

  • Regulated by an authority with good reputation (ASIC)
  • Lengthy experience in the industry (14+ years)
  • Special features: MetaTrader Genesis, AutoChartist, Trading Central and a-Quant, among others
  • Competitive commissions and spreads starting with 0 pips 
  • STP and ECN execution
  • Fast order execution thanks to innovative technology
  • The industry leading trading platform MetaTrader with versions MT4 and MT5 
  • A good selection of payment methods
  • Professional customer service 
  • Strong education and resources library

Cons:

  • A comparatively small selection of financial instruments
  • Not regulated by the FCA or in Europe
  • Does not provide services in US and 35 other high-risk jurisdictions
  • Only two types of accounts offered

Is This Broker a Good Option For Me?

This is a tough question and is rather difficult to offer a general answer, as the services of a Forex broker cater to personal needs and purposes. It is up to you what requirements you have for a broker; what are the criteria that it should meet; what are your goals and trading strategies etc.

GO Markets is a good option if you are a beginner or if you are focused particularly on Forex, interested in social trading and automated trading and if you do not require an extended selection of financial instruments. 

If you need a large variety of markets to choose from, or if you want to buy stocks and not just trade CFDs on stocks, you might consider the offer of 350+ instruments of GO Markets unsatisfactory.

Conclusion

GO Markets is one of Australia’s top Forex brokers and offers a range of features that make it a reliable choice. These are: a prominent trading platform, special plugins to improve trading activity, an extensive educational library and a good selection of instruments. 

This review of GO Markets would recommend them as a broker to seriously consider for your trading activity if you are not an extremely sophisticated trader yet. 

Safety and regulations 3
Offer of financial instruments 3.5
Differentiation elements and unique features 4.8
International presence – covered countries 4.5
Account types 3.5
Spreads, fees and commissions 4.4
Deposits and withdrawals 4.5
Minimum deposit 4.8
Desktop and web trading platforms 4.3
Mobile trading platforms 4.3
Training, education, resources and research 4.8
Customer support 4.3
Total Score 4.2

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