GO Markets Review
Table of Contents
GO Markets is a broker registered in Australia, allowing people from all over the world to trade. It’s been around since 2006, and it’s a well-established broker. With headquarters in both Australia and the Netherlands, the company was one of the first ones to provide MetaTrader 4 for Australian traders.
Ever since, the broker also added MetaTrader 5 and WebTrader, and also has a mobile platform that helps offer people the necessary tools and services. At the moment, the broker also has offices in Hong Kong, Taipei, and London. Back in 2019, the broker decided to expand into North Africa and the Middle East region too.
All of this already seems to point towards a great, safe broker, but this information is actually not enough to discover the safety levels of a platform. While GO Markets is experienced and is trying to expand more and more, it’s still essential to know how safe it is before creating an account. So, we’ve compiled a review that will let you know how reliable GO Markets is.
Who Is GO Markets for?
GO Markets is great for both people with experience in trading and people who are newer to this world. The broker offers the MT4 and MT5 platforms, which are some of the most popular ones for traders. These are ideal for those who already know what trading involves. However, they can also aid beginners in their trades and make sure they get to learn how to use some of the best tools.
Also, the broker is great for individuals who want to trade CFDs. GO Markets has a large selection of them, and people can pick from a plethora of assets.
Moreover, beginners will enjoy browsing the education section. This is because GO Markets ensured they have some high-quality materials for anyone who wants to learn how to trade.
Things We Like
Customer support was one aspect that left a good impression on us. The customer support was rated as #1 and for a good reason. The staff members are always there for their users and that they do whatever it takes to help people who have any issues. Even better, customer support is available in multiple languages too, so more users have access to this service.
Education is also great with GO Markets, and we were pleasantly surprised to see how much material there is, and how qualitative it is. The materials won various awards, and on top of having access to these tools, people also have some educational programs through the Academy. A demo account exists as well.
Furthermore, we loved to see that no inactivity fee is charged.
Things We Don’t Like
GO Markets comes with a few downsides too, and we think it is important to bring them up. First of all, there are only two types of accounts to choose from. While that makes it easier for beginners to choose, it is pretty limiting, especially for more experienced traders.
Also, the broker restricts a lot of countries from using the services, one of these countries being the U.S. this way, it prevents more people from using the service and having access to a good platform with amazing tools.
Pros / Cons
- Copy Trade, Social Trading and Technical Indicators
- Available in various languages
- Mainstay on MT4
- Types of account is limited
- Broker restricts a lot of countries from using the services
- No fixed spread accounts
Safety and Regulation
You should know a bit about the platform’s safety before you create an account. So, here are a few things to bear in mind:
Who Is GO Markets?
GO Markets is an Australian broker founded in 2006, and it was one of the first brokers in Australia that offered MetaTrader 4. The platform uses advanced technology and it has competitive spreads, and these are some of the features that make them so appreciated by traders from different parts of the world.
The broker made it possible for people to use several platforms, such as MT5, WebTrader, and a mobile trading platform. Also, the Australian-based company has offices in London, Hong Kong, and Taipei too.
It planned to expand even more, so in 2019, GO Markets announced that they were going to expand into the Middle East and North African area. This is possible as the platform operates under GO Markets MENA DMCC now in Dubai, UAE, offering people from the surrounding area the services they want to access.
Is GO Markets Regulated?
GO Markets is regulated by two large authorities. One of them is the Australian Financial Services. Then, the platform is also regulated under a CySEC license. This applied thanks to an extra European entity.
GO Markets Licenses
- Go Markets Ltd – authorized by CySEC (Cyprus) registration number 322/17
- GO Markets Pty Ltd – authorized by ASIC (Australia) registration number AFSL: 254963 ABN: 85 081 864 039
Is GO Markets Safe or a Scam?
GO Markets has been around since 2006 – so, since it survived for so many years, it can only mean it is pretty safe. It is also regulated by top-tier authorities. Also, they make sure to protect client funds in multiple ways. They have client funds held separately from the funds of the company, which is possible through the Commonwealth Bank and the National Australia Bank. There is also a margin call mechanism that is applied, which helps with risk mitigation in case an account has a negative balance.
Countries It Accepts Clients from
The broker accepts clients from many countries in the world. That being said, some of the countries that have access to GO Markets are the United Kingdom, Saudi Arabia, Qatar, Australia, Thailand, Singapore, France, India, Norway, Italy, Sweden, Denmark, and many others.
There are countries that are banned too, such as the United States, Afghanistan, Egypt, New Zealand, Ukraine, Iran, Israel, Iraq, Lebanon, Japan, Canada, and a few more.
Several awards have been offered to GO Markets, one of them being for the amazing customer service. They won the No. 1 For Customer Service, 2019 – Australia Trading Leverage Report award.
Range of Offerings and Products
GO Markets offers several products and services. They have a large variety of instruments. This includes more than 350 instruments through CFDs of commodities, indices, and Forex markets, as well as cryptos. This way, people can properly diversify their portfolio, especially those who are at the beginning of the road.
With the ability to trade Forex, GO Markets also allows you to use leverage, which helps increase the gains too. The maximum leverage offered is 1:30.
Web, desktop, and mobile platforms are offered to users for their trades. The web trading platform is great as it has both the MT4 and MT5 options, and it also comes with a lot of tools such as MT4 Genesis, EAs, and others. You also get Social Trading, Copy Trade, and Technical Indicators. There are no restrictions on strategies, and you can use the platform in multiple languages as well.
The desktop platform allows you to enjoy amazing customization and full capabilities, and you can also use MT4 or MT5. It looks amazing, and it brings 3 types of display options and charts. It is also great for experienced traders.
Lastly, the mobile platform can also be used with MT4 or MT5, allowing you to enjoy the same benefits.
Two account types are offered by GO Markets, respectively the Standard accounts and the GO Plus accounts. People can choose the best one depending on what they want to obtain. Standard accounts offer a leverage of up to 30:1, have an A$0.00 commission, and have spread from 1.0 pips. Meanwhile, GO Plus+ Accounts have spread from 0.0 and have A$3.00 commission per side on a standard lot.
Before jumping into any of the other account types, people can open a demo account. This is great when you want to see how the platform feels overall before getting more serious. It is easy to open and use.
Deposits and Withdrawals
You can make a deposit using bank transfers, as well as BPAY payments, e-wallets, or credit/debit cards.
What Is GO Markets Minimum Deposit?
The minimum deposit with GO Markets is $200.
The same methods you use for deposits can be used for withdrawals, which is great.
GO Markets Promotions
Sometimes, GO Markets has certain promotions, but they depend on each period. Customers have to check out the promotion page to find the ongoing promotions. One promotion includes the 30% deposit bonus for accounts that are between $1,000 and $20,000.
Client Support and Education
The education section on GO Markets is amazing. On top of having a great GO Markets Academy, there are also a lot of materials to use, such as tutorials, video tutorials, webinars, seminars, and more. A demo account is provided as well.
Verdict – Overall Rating
GO Markets is a great platform, and both beginners and experienced traders will enjoy it. The only negative thing is that not all countries are accepted, so make sure to check the list of accepted countries before you attempt to start an account.
All brokers listed on our website are regulated by at least one financial regulator and have never been reported as a scam. Our reviews and overall scores are based on the key areas above, in a combination with our opinion and commentary.
The reviews are shared and discussed with the brokers, but the authors of our website always have the final word. Furthermore, we always strive to keep the information on our website updated and relevant for our readers.
What helps us stand out is that we always test our brokers with an anonymous live account, to ensure we deliver the most accurate information and experience to our readers. Finally, our reviews and evaluation are always independent of any financial compensation we may receive from the brokers.
There is a very high degree of risk involved in trading securities.
With respect to margin-based foreign exchange trading, off-exchange derivatives, and cryptocurrencies, there is considerable exposure to risk, including but not limited to, leverage, creditworthiness, limited regulatory protection, and market volatility that may substantially affect the price or liquidity of a currency or related instrument. It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses. Learn more at Wikipedia.
All investments involve risks and are not suitable for every investor. The value of securities may fluctuate and as a result, clients may lose more than their original investment. The past performance of a security or financial product does not guarantee future results or returns. Keep in mind that while diversification may help spread risk it does not assure a profit, or protect against the loss, in a down market.
There is always the potential of losing money when you invest in securities or other financial products. Investors should consider their investment objectives and risks carefully before investing. More details here.
Looking for more information on brokers and trading? Have a look at our trading guides:
- Best Forex Brokers for 2021
- Best Binary Options Brokers for 2021
- Best Online Stock Brokers for 2021
- Best Trading Apps for 2021