Go Markets Review 2021
Go Markets rating
Pros / Cons
- Regulated by ASIC (Australia)
- Good customer Support
- MT4 & MT5 platforms available
- Bonus promotions ( *Not available in EEA countries)
- Good Education tools
- High variable spreads in Standard account
- Not FCA (UK) regulated broker
- Limited number of assets to trade
Latest GoMarkets review updated on July 24, 2021 @ 3:17 pm
What is Go Markets?
Go Markets is one of those old school brokers that Forex traders simply trust because of the reputation they have built over the years. Founded in 2006, Go Markets is one of the pioneers of the online trading industry in Australia. Go Markets is registered as GO Markets Pty Ltd (ABN 85 081 864 039.& ACN 081 864 039) and the company is regulated by one of the most strict government regulatory authorities in the world, the Australian Securities and Investments Commission (ASIC – AFSL No. 254963).
While other brokers often try to attract clients by offering fringe benefits and bonuses, GoMarkets.com.au has always focused on improving their core trading features that compete to be the most efficient Forex brokers in the market, not only in Australia – but in the world.
How does Go Markets work?
When it comes to trading services, Go Markets understands that there are basically two types of traders, beginners – who want to learn trading Forex as a business and professionals – who make a living from their trading.
Regulation & Trust
Is Go Markets a good and regulated broker?
Yes, They are trusted forex broker regulated by the Australian Securities and Investments Commission (ASIC – AFSL registration number 254963. in Australia. Being an Australian regulated broker, all clients funds are held in separated accounts in Tier 1 banks in Australia.
Trading Platforms & Tools
Does Go Markets use MetaTrader?
Go Markets offers MetaTrader 4 & 5 to both Standard and GoPlus+ accounts customers. However, customers with GoPlus+ accounts are automatically eligible to download a much-improved version of the standard Metatrader platform. It is called the MT4 & MT5 Genesis. However, standard account holders who have deposited over A$1,000 into their account can also request to get access to the Metatrader Genesis platform.
MT4 & MT5 Genesis enables Go Market customers to “access a set of trading tools that will enhance the power of your standard MetaTrader platform and help traders optimize their ability to trade successfully,” says Go Markets’ website.
Among many, some of the special tools included in the MT4 and MT5 Genesis platform are a newly designed terminal window, the Mini Terminal, Session Map, Correlation Trader, and Sentiment Indicator.
Besides the MT4 and MT5 Genesis, which comes with the default mobile trading apps for Android and iOS devices (iPhone/iPad), Go Markets also offer a fully cloud-based trading platform called the Go EzyTrader, which is basically a re-branded version of the WebTrader platform offered by other brokers.
With the WebTrader, Go Markets customers can gain full access to their MT4 trading account and place/modify orders from any modern browser.
How many assets can be traded at Go Markets?
With GoMarkets you can trade over 300 assets, including 50 forex pairs, over 300 CFDs (shares, indices, cryptocurrencies, commodities and metals).
What are the Go Markets Spreads?
They offer variable spreads on their trading platforms. Their Standard account average spreads are 1.2 pips on EUR/USD compared to only 0.2 pips on the GoPlus+ account.
What are their fees and commissions?
At GoPlus+ accounts, they have a $3.00/side on standard lot.
What is their max leverage with Go Markets?
On both accounts, traders are offered a generous 500:1 leverage.
Research & Education
Their forex education centre is superb. It includes video tutorials, an academy with free forex courses, webinars in English and Chinese and tutorials,
Type of Accounts
Hence, instead of offering a lot of account types. Go Markets only offers two types of accounts, the Standard Account for beginners and the GoPlus+ Account for professional retail traders as well as other institutional traders.
In order to open a Standard Account, Go Markets requires only A$200 initial deposits and offers all the features of the Pro Account. However, the key difference between these two account types is that the GoPlus+ Account charges a commission of $3.00 per 100K (AUD) traded on their platform, while the Standard Account only charges spreads.
Forex Islamic Accounts: They provide Swap-Free Accounts?
GoMarkets Demo Account
Go Markets offers a free demo version, which traders can use to familiarize themselves with the Go Markets before opening a live account. Our research found that the demo account expires after 30 days.
What is the minimum deposit on Go Markets?
Traders can open this account with only $200 initial deposit.
Although we could not find a dedicated contact page on the Go Markets website, they do provide all the modern communication channels to reach their customer service representatives. Just that we found these contact details scattered around their home page.
Customers can email them at email@example.com and they have listed Level 50, 120 Collins Street, Melbourne, VIC 3000, Australia as their office address on the website.
Besides the option to reach them via email, Go Markets has also listed three dedicated numbers to serve different geographic locations. For example, customers from Australia and Europe can call two different numbers 1800 88 55 71 (AUS) and +44 203 637 7618 (UK), respectively. On the other hand, customers from other regions and countries can call another dedicated number (+61 3 8566 7680) to reach Go Markets customer support in Australia during business hours, which is Sunday, GMT 21:00 to Friday GMT 21:00.
They offer their website and platforms in English, Chinese, Thai, Indonesian, Portuguese, Spanish, Arabic, Malay and Italian.
As one of the most reputed Forex brokers in Australia, They have served a generation of retail traders who have graduated from their Standard Account to the Pro Account over the years. More importantly, Go Markets have always stayed at the forefront of the industry by offering new and innovative trading solutions to their customers.
If you are just starting your journey as a Forex trader, GoMarkets.com.au would be the go-to broker. However, they also have a bundle of surprise for professional traders and if you are looking for a new Forex broker, you may give them a try.