GO Markets Review

GO Markets
20% credit bonus
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Overview

In this must-read GO Markets review updated for 2020 we are going to look at all pros and cons of trading forex, shares or commodity CFDs with this Australian broker…. more

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3/5

Details

Broker GO Markets
Website URL https://www.gomarkets.com
Founded 2006
Headquarters Level 22, 600 Bourke Street, Melbourne, VIC, Australia.
Support Number Australia 1800 88 55 71 China 400 120 8537 United Kingdom +44 203 637 7618 International +61 3 8566 7680
Support Types Phone, Live Chat, Email: Email [email protected] New Accounts [email protected]
Languages English, Indonesian, Chinese, Spanish, Italian, Arabic, Portuguese, Thai
Trading Platform MetaTrader 4, MetaTrader 5, WebTrader, Mobile Trading Platform, Social Trading: Myfxbook
Minimum 1st Deposit AUD $200
Minimum Account Size none
Minimum Trade Amount 0.01 lots
Maximum Trade Amount none
Bonus 20% credit bonus
Payout within 2 working days
Leverage 1:1 up to 1:500
Spread from 0.0 pips
Free Demo Account Open Demo
Regulated Yes
Regulation AFSL 254963. ABN 85 081 864 039. ACN 081 864 039.
Fee Info no hidden fees
Commissions Yes
Commission Info AUD $3.00 per side in the case of GO Plus+ account
Account Types Demo account, Standard account, GO Plus+ Account
Deposit Methods Visa/Mastercard, Skrill, Neteller and Bank Transfer
Withdrawal Methods Visa/Mastercard, Skrill, Neteller and Bank Transfer
Trading Methods hedging, scalping
Number of Assets 350+
Expiry Times depends on contract
Types of Assets Trade more than 350 products including Forex, Share CFDs, Commodities, Indices, and Metals with GO Markets MetaTrader 4 & 5 trading platforms
Option Types futures
Trading Currency over 50 forex pairs including majors, minors, exotics and cryptocurrency
Account Currency AUD, USD, EUR, GBP, NZD, CAD, SGD, CHF and HKD
US Traders Allowed No
Mobile Trading Yes
Tablet Trading Yes
Overall Score 8.1

Full Review

In this must-read GO Markets review updated for 2020 we are going to look at all pros and cons of trading forex, shares or commodity CFDs with this Australian broker.

There are quite some Australian brokers out there that either cater Australian and New Zealand traders or investors from all over the globe. GO Markets caters to traders and investors world wide and is ASIC regulated since 2006. They are based in Melbourne, Australia and with over 14 years of experience we can say they withstood the 2008 financial crisis without going bankrupt.

Nowadays GO Markets is a leading brokerage firm with clients, both individual and institutional from over 150 different countries. GO Markets offers forex, share CFDs, indices, precious metals and commodities for trading on both MetaTrader 4 and MetaTrader 5 platforms.

Is my money safe at GO Markets?

First of all, let’s start with the fact GO Markets is licensed and regulated under the name GO Markets PTY Ltd by the Australian Securities and Investment Commission (ASIC). Their Australian Financial Service License number is ASFL 254963.

Furthermore, GO Markets segregates client’s funds on top tier-1 bank accounts as required per ASIC regulation. To do this, GO Markets has chosen the National Australia bank and the Commonwealth bank as custodian banks for their client’s funds. Both these banks are very reputable and we can rest assure client’s deposits are not being used to fund GO Markets running and internal operations.

To secure their website and trading platforms, GO Markets has taken several safety and security measurements included, but not limited to the latest software’s, firewalls and servers. All of their websites and trading platforms are protected from hackers and malware using secured socket layer (SSL) protection provided by ‘Let’s Encrypt Authority X3’.

This means you can trade and invest safe with GO Markets, without having to worry any data is being stolen, hacked or captured in any other way. As per regulation GO Markets has to be well-capitalized and they keep well  over $1m AUD in their emergency account at all times to cover operational costs and market exposure.

GO Markets Assets and Instruments

On GO Markets traders can trade over 350 different assets, consisting of 50 forex pairs, 2 precious metals, 14 indices, 2 commodities, 2 futures, 5 cryptocurrency, 80 U.S. stock shares, and over 200 ASX stock shares.

Instrument ClassAmount Assets and Instruments
Forex Pairs50
Crypto2
Precious Metals5
Indices14
U.S. Shares80
ASX Shares200+

GO Markets Account Opening

GO Markets offers three different account types. The main differences between the two real, live accounts, called Standard and GO Plus+ are the spreads, commissions and minimum deposit required. The maximum leverage on both accounts is 1:500. Traders are also assigned a personal account manager. The real or live accounts at GO Markets can be funded with AUD, USD, EUR, GBP, NZD, CAD, SGD, CHF and HKD.

Apart from the two real accounts, GO Markets also offers a demo account to practice with.

GO Markets Real Accounts details:

gomarkets-review-account-types

As you might not be able to see as the image above isn’t to sharp (sorry for that, couldn’t figure out how), the Standard Account requires a minimum opening balance of AUD $200 and spreads start at 1.0 pip. On the GO Plus+ account the minimum required deposit amount is AUD $500 and floating spreads start from 0.0 pips. Although spreads are lower on the GO Plus+ account, on this account type commission is being charged of AUD $3.00 per side.

GO Markets Demo Account Information

Go Markets offers a demo account for both MetaTrader 4 and MetaTrader 5 trading platforms. The demo account comes with $50,000 virtual balance. Demo accounts are presented to traders and people new to trading so they can test out the platform and broker before depositing (and risking) their hard earned real money. The GO Markets demo account offers the same live price feed as the live trading platform accounts. This is not always the case with other brokers. The GO Markets demo account is perfect for experienced traders as well as they can test out Expert Advisors (EAs), improve strategies and familiarize with the trading platform and broker.

To create a demo account, simply click the ‘open demo account‘ button and fill out the form on this page. To open a live account, follow the same instructions but trough this link.

Please note that GO Markets doesn’t take on new clients from one of the following countries: Afghanistan, Azerbaijan, Botswana, Bosnia and Herzegovina, Burundi, Central African Rep, Congo, Côte d’Ivoire, Ethiopia, Eritrea, Egypt, Gaza Strip, Ghana, Guinea Bissau, Haiti, Iran, Iraq, Lebanon, Libya, Myanmar, Nicaragua, North Korea (DPRK), Pakistan, Serbia, Sierra Leone, Somalia, Sri Lanka, Sudan, South Sudan, Syria, The Bahamas, Trinidad and Tobago, Tunisia, West Bank, Venezuela, Yemen and Zimbabwe.

GO Markets deposit and withdrawal options

GO Markets does not charge any deposit or withdrawal fees, which is a thing most other brokers don’t do. Please note that if you are a non-Australian trader you do have to pay a small fee in the case of a wire transfer to a Australian bank.

GO Markets account holders can only make deposits and withdraw to accounts on their own name. So make sure you fill in your details for real and not some bogus details. As this might cause trouble for you later on. Withdrawal requests received after 1 pm will be transferred the next business day.

GO Markets accepts credit cards issued by Visa and/or Mastercard. These forms of payments are processed instantly. As for online payment gateways, GO Markets accepts POLi, BPay and Fasapay. These methods can only be used to deposit money on GO Markets and not to withdraw. GO Markets also accepts e-wallet transactions from both Skrill and Neteller. You can use them both the deposit and withdraw money. These transactions are usually instant but could take up to three hours maximum.

Last but not least there is the possibility to deposit and/or withdraw funds to and from your GO Markets account using a traditional bank transfer. This is the slowest form of payment which can take anywhere really between 2 and 7 business days, depending on your bank.

gomarkets-deposit-withdrawal-options

GO Markets Web and Desktop Trading Platforms

GO Markets supports both MetaTrader 4 and MetaTrader 5 trading. Both are developed by the Russian software company MetaQuotes and are extremely popular with forex and share traders worldwide. These trading platforms are available web-based, as downloadable version and mobile. If you don’t know the difference between MetaTrader 4 and MetaTrader 5 you can read this article:

MetaTrader 4 versus MetaTrader 5: What’s the Difference?

MetaTrader 4

This is the most popular trading platform with forex traders. GO Markets was one of the first brokers offering MT4 to Australia. As said before this version of their trading application is available both in a downloadable format and as web-based platform. It supports both Windows and Mac operating systems. MetaTrader 4 is suitable for every type of trader, both beginner and advanced. MT4 contains a huge number of indicators, charting methods and the possibility to run scripts and Expert Advisors (EAs).

gomarkets-metatrader-4

MetaTrader 5

This is a somewhat newer version of the MetaTrader 4 trading platform. MT5 was originally designed to not only trade forex and CFDs so added options, shares, bonds and indices. It basically improved MetaTrader 4 in several different aspects. The GO Markets MetaTrader 5 trading platform is of course also available on both Windows and Mac and traders and investors can use it to trade over 200 ASX shares and 80 U.S. shares offered by GO Markets.

gomarkets-metatrader-5

GO Markets Mobile Trading Platforms

The MT4 and MT5 mobile trading apps from GO Markets work exactly the same as the desktop and webtrader versions. Simply trade on-the-go by downloading the Android or iOS trading app from their respective app stores.

Some of the features of the GO Markets mobile trading apps(s):

– View real-time prices and quotes on-the-go
– Full technical analysis tools including charts, indicators, drawing tools
– Open, close and monitor trades and pending orders from your smartphone
– Usage of stop loss and take profit features without to high minimums
– Read market news everywhere you are
– Order and transaction history is available from the app. Of course you can also always view your current account balance

GO Markets special features

GO Markets is dedicated to providing traders with high-quality trading tools to help them carry out efficient and effective trades. Some of our most popular trading tools available on our CFD trading platforms include:

  • MT4/MT5 Genesis – MT4 & MT5 Genesis is a suite of trading tools that can help enhance your trades. It can be used for Forex, indices and commodities. Transform your trading platform by easily adding on Expert Advisors
  • Autochartist – Autochartist helps traders with its powerful pattern recognition tool, simplifying technical analysis for traders. Autochartist works to identify trading opportunities based on key support and resistance levels and alerts traders of new opportunities.
  • Myfxbook – Myfxbook is a popular trading tool due to its ability to copy trades from successful trading systems. It’s an account mirroring service that works as a copying platform with over 90,000 different Forex traders. Trade better with in-depth analysis, statistics and invaluable insights
  • Trading Central – Trading Central is a collection of programs that offer actionable investment support with 24-hour multi-asset coverage, technical and fundamental analysis, and back-tested trading strategies.
  • GO Markets Virtual Private Servers (VPS) for MT4 & MT5 – GO Markets VPS allows you to execute trades using Expert Advisors (EAs) much faster and easier. This means more efficient trading where you can take advantage of high-impact events or set up trades for automatic placement directly into the market.

gomarkets-special-features

 

 

GO Markets Social Trading (MyFX Book)

GO Markets offers it’s traders the opportunity to copy other traders also called Social Trading. With Go Markets MyFX Book you can follow and copy over 100,000 traders all over the world. This mirror trading requires a slightly higher deposit of AUD $1000 minimum on your GO Markets account.

GO Markets Commissions and Spreads

Go Markets charges spreads as low as 0.0 pips on Standard Accounts. On GO Plus+ accounts GO Markets charges AUD $3 commission per side. In the case of Australian share CFDs a commission of 0.08$ or $10 minimum, whichever is higher is charged.

GO Markets Bonus and Promotions

GO Markets has three on-going promotions or bonuses at time of writing this review (Feb 2020), only available for non-EU clients, though, as per regulation.

    • 20% Trading Credit Bonus –  For a limited time only, fund your GO Markets Live Trading Account with any amount between $1,000 and $25,000 (or your trading account currency equivalent) and receive up to 20% of your original deposit back as a trading credit bonus.
    • Refer-a-friend – Receive US$100 for each friend you refer to trade with us – no cap!Invite your friends to open an account with GO Markets. When your friend deposits and trades, you as the referrer and your friend as the client both will receive a bonus of US$100 (or currency equivalent).
    • Volume Rebates for Traders – To qualify for rebates on Forex & Metals (for example), your total monthly CFD trading volume will need to be at least US$25M. Once you’ve reached this level, you’ll be able to earn $5.00 – $15.00, depending on which tier you reach. More information about the volume rebate promotion can be found on the GO Markets website.

GO Markets Customer Support

The following methods can be used to reach the support team from Monday to Friday (24/5):

• Chat: Instant web chat can be initiated from every page on the broker website. The chat assistants are friendly and civil and extremely fast to respond. It took them about 10 seconds to respond. They are very professional, friendly and knowledgeable.”
• Contact us form: This form is accessible from the ‘contact us’ page of the website. Inquirers are encouraged to fill the form with their questions and a support staff will respond by email or phone call.
• Email: [email protected] or [email protected]
• Phone Numbers: Australia; 1800 88 55 71, UK; +44 203 637 7618, international; +61 3 8566 7680.

Social Media: The following social media channels are available:

facebook.com/GOMarkets
Twitter.com/go_markets
linkedIn.com/go-markets
instagram.com/gomarkets
youtube.com/GOMarketsAustralia

GO Markets Education and Research

GO Markets has several forms of educational and research material available on their website. This includes:

GO daily news – A daily market analysis provided by GO Markets analysts.
Weekly summary – A market overview with a look on the weak ahead and events that will impact the financial markets will be discussed. More of a fundamental analysis tool rather than technical.
Articles – Written by GO Markets analysts. These articles cover the news events and analyze how they could impact price levels for certain assets and financial instruments.
Economic Calendar – GO Markets has an economic calendar available to see events in an overwie that are most likely to impact the stock markets. This economic calendar is fully customizable to your own needs and both available from the MT5 trading platform as the GO Markets website.
Forex ebook – this 34-page counting ebook teaches people new to online trading all about using the MT4 trading platform.
Forex education course – This digital forex course is designed at beginner traders and consists of 3 modules and 23 videos and webinars. It covers the basics of forex traders.

day-trading-course

GO Markets Review Conclusion

Go Markets is one of the best Australian brokers with over 14 years of experience in the retail brokerage industry. The broker is suitable for both beginner and experienced traders. For beginner traders the broker offers forex education courses, training videos and a free demo account. The inclusion of further training in the form of eBooks, webinars and video lessons accompanies this.

The social trading aspect with myfxbook is great and because they provide MT4 and MT5 trading people can auto trade using EAs. GO Markets is also a regulated and licensed broker in Australia. This should give every trader the confidence their money is safe with this broker. We highly recommend opening either a demo or real account with this broker if you wish to trade forex, CFDs, Australian or U.S. shares.

Reasons to create an account at GO Markets:

Screenshots

Screenshot 1 Screenshot 2

Pros

  • MT4/MT5 Genesis – MT4 & MT5 Genesis is a suite of trading tools that can help enhance your trades. It can be used for Forex, indices and commodities. Transform your trading platform by easily adding on Expert Advisors
  • Autochartist – Autochartist helps traders with its powerful pattern recognition tool, simplifying technical analysis for traders. Autochartist works to identify trading opportunities based on key support and resistance levels and alerts traders of new opportunities.
  • Myfxbook – Myfxbook is a popular trading tool due to its ability to copy trades from successful trading systems. It’s an account mirroring service that works as a copying platform with over 90,000 different Forex traders. Trade better with in-depth analysis, statistics and invaluable insights
  • Trading Central – Trading Central is a collection of programs that offer actionable investment support with 24-hour multi-asset coverage, technical and fundamental analysis, and back-tested trading strategies.
  • GO Markets Virtual Private Servers (VPS) for MT4 & MT5 – GO Markets VPS allows you to execute trades using Expert Advisors (EAs) much faster and easier. This means more efficient trading where you can take advantage of high-impact events or set up trades for automatic placement directly into the market.

Reviews

  • User experience:

    3
  • Platform:

    3
  • Reliability:

    3
  • Customer Service:

    3
  • Payouts:

    3
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3
(1 Reviews)
Add Your Review

I think the crypto currency Authority should look into the fraudulent activities taking place in the crypto currency world by Brokers and Account Managers. 80% of Forex , Binary and Bitcoin Brokers and Account Managers are operating illegally all they do is to steal fund from traders , I was a victim , they convinced me into investing with them after depositing my fund they refused me access to withdraw my fund rather requesting for more deposit. It was a painful experience, but God so kind I came across a broadcast talking about how Mr Ashley Larsen, helped victims who lost their fund to Brokers and Account Managers, I took the opportunity and contacted Mr Ashley through the email they displayed for consultation, after receiving my mails he asked for information about my trading and the Broker name ,Account manager name , the Total amount I lost and the year. I forwarded all the details to him . With their help I was able to get back the total amount I lost , the crypto security agencies mission is to make the crypto market a safe place for all traders and investors. If you’re having difficulties in withdrawing your funds or you have lost your fund in years or months back but you still have details of the broker or account manager who stole your money kindly contact Mr Ashley Larsen he will hear you out and guide you on the right steps to take and get back your money successfully, contact him through his email address below. [email protected]

Pros: Full Refund

Nadelen: None

3
3
3
3
3
curly braces
3

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Customer Service

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Decleration:
I hereby declare this review to based on my own experience trading with this broker and I did not reseve compensation in any way submitting this review

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