GO Markets DetailsTrading PlatformsMarketsSpreads & FeesLeverageMobile AppsPayment MethodsDemo AccountDeals & PromotionsRegulation & ReputationAdditional FeaturesAccount TypesBenefitsDrawbacksTrading HoursCustomer SupportSecurityGO Markets VerdictAccepted CountriesAlternatives to GO MarketsFAQ
GO Markets is an award-winning Australian forex broker and CFD provider, offering the MetaTrader 4 and MetaTrader 5 platforms. This 2022 review will cover demo and real-money accounts, as well as leverage and fees. Find out if you should start trading with GO Markets today.
GO Markets Details
Founded in 2006, GO Markets is one of Australia’s first MetaTrader 4 (MT4) forex brokers. The provider has since added MetaTrader 5 (MT5), WebTrader, and mobile trading to its suite of services.
Based in Australia and licensed by the Australian Securities and Investment Commission (ASIC), the group now has offices in London, Taipei, and Hong Kong. In 2020, the broker obtained a license to expand into the Middle East and Northern Africa region, operating as GO Markets MENA DMCC in Dubai, UAE.
Trading Platforms
MT4
GO Markets uses the MetaTrader 4 (MT4) trading platform, a multi-featured Mac and Windows trading software that includes:
Forex, indices, and commodities trading
Access to over 350 trading instruments
Instant and pending order types
Automated trading features
Market analysis indicators
Customisable layout
Secure login
MT4 platform
MT5
Clients can also trade on MetaTrader 5 (MT5), a more advanced platform offering superior tools:
Four types of order execution and six types of pending orders
80+ technical analysis indicators and objects
Access to Expert Advisors (EAs)
Hedging and netting
One-click trading
MT4 and MT5 are available for download on Mac and Windows PCs.
WebTrader
The WebTrader platform offers everything featured on MT4 or MT5, all within a web-based platform that can be accessed directly from any internet browser.
With no app or browser extension download needed, WebTrader allows users to trade CFD instruments and access price analysis from anywhere with an internet connection. It’s a suitable option for clients seeking an easy-access platform.
WebTrader is compatible with Windows, Mac, and Linux OS.
Social Trading: Myfxbook
Myfxbook AutoTrade is a global copy platform and social trading community. With over one million customers, it easily connects with your GO Markets Standard trading account, allowing users to:
Copy pre-approved investors who have a demonstrable history of successful trades
Connect to Myfxbook straight from an internet browser
Access a range of accurate analyses and statistics
Have easy control over auto-copied trades
Upon receiving login details for MT4/MT5, traders can then register for a Myfxbook account through the website.
Share Trading Platform
The TradeCentre by FinClear is a web-based and mobile platform that you can download from GO Markets’ website.
You can trade shares and manage your account. It allows you to purchase and sell, check market data, and receive news about incoming floats and dividends. You also get useful tools like watchlists and heat maps. Additionally, it comes in the Pro version for advanced traders.
Markets
GO Markets users can trade over 600+ products within six main asset classes:
Index CFDs – Invest long and short with 13 Cash CFDs and 2 Futures CFDs, including the FTSE 100, CAC 40, US 500 and ASX 200
Commodities – Includes crude oil and gas. These can be traded both in spot and futures markets
Share CFDs – Open long and short positions with over 200+ ASX shares and 80+ NYSE and NASDAQ equities
Currencies – 50+ major, minor and exotic currency pairs, including AUD/USD, EUR/GBP, and USD/CNH
Precious metals – Invest in gold and silver CFDs with long or short positions
Cryptocurrencies – Bitcoin, Bitcoin Cash, Ethereum, Ripple, and Litecoin
This review is disappointed that binary options aren’t available at GO Markets, not even on demo accounts, considering there is an easy MT4 binary options plugin for brokers.
Spreads & Fees
Reviews show that spreads are competitive, ranging from 0.0 to 12.2 pips on major and minor forex pairs, while the minimum on indices starts at 0.1 pips. Spreads on gold, silver, and crude oil are variable and can be found on the broker’s main page.
Other trading costs include commissions (only on the GO Plus+ account) of A$3.00 per side on a standard lot, as well as swap rates when you buy or sell a currency pair and hold it overnight.
Overall, if you compare GO Markets vs. the likes of Pepperstone or IC Markets, the broker’s commissions and spreads are competitive.
Leverage
GO Market offers leverage up to 1:500 on forex pairs, up to 1:20 on share CFDs, and up to 1:100 on indices.
All client accounts are set up with a default leverage rate of 1:100, and depending on account balance, you can choose a ratio between 1:1 and 1:500.
Mobile Apps
GO Markets offer the MetaTrader mobile app for iOS or Android based-smartphones, meaning users can trade 24/7 on the go. MT4 and MT5 for mobile allow easy and convenient access to the same features as the desktop platform, including quotes, trades, and charts. The mobile applications can be downloaded from your device’s Google Play or App Store.
GO Markets mobile app
Payment Methods
Deposits
GO Markets offer a range of account funding options in multiple base currencies using:
Bank wire transfer
Mastercard & Visa
Checkout.com
Neteller
Dotpay
Skrill
There are no deposit fees on the part of the broker. All deposit options offer instant processing, apart from bank wire transfer and Checkout.com, which can take up to three days.
Withdrawals
All withdrawals use the initial funding source, where appropriate. Requests can be submitted via the secure online client portal. They are processed on the same day whenever possible. The payment provider will determine how long it takes for funds to appear on your account.
Your bank may charge fees on withdrawals, especially on small amounts. Card and wire transfers can take 2-5 days on average to process.
Demo Account
GO Markets offers a comprehensive demo account that allows you to practice trading over 350 CFDs, with real-time spreads, leverage up to 1:500, over 80 technical analysis tools, and 24/5 multilingual client support.
Clients receive $50,000 in virtual funds to practice on MT4 and MT5, either on their portable device or desktop. The paper trading account can be set up easily via an online form on the broker’s website.
Deals & Promotions
GO Markets is running a 30% trading credit cash rebate. This promotion applies to any live trading account with any amount between $500 and $25,000 or the currency equivalent.
For future GO Markets bonuses, refer to their webpage.
Regulation & Reputation
GO Markets Pty Ltd is regulated and licensed by:
Financial Services Commission (FSC) of Mauritius as an Investment Dealer (Discount Broker)
Australian Securities and Investments Commission (ASIC)
Cyprus Securities and Exchange Commission (CySEC)
In addition, it holds an Australian Financial Services license.
The broker ensures all client funds are held in separate client trust accounts at top-tier AA-rated Australian banks: National Australia Bank and Commonwealth Bank.
Additional Features
GO Markets offer various supplementary trading and education tools, designed for both beginners and experts alike. These include:
a-Quant Daily Trading Strategies – Trading signals based on machine learning/artificial intelligence
Trading Central – Better trade insights with analyst support, pattern recognition indicators, and more
Autochartist – Real-time trading alerts and volatility analysis for MT4 & MT5 (Windows only)
Education Centre – Forex Smart Guide, video tutorials, courses, webinars, and seminars
MT4 and MT5 Genesis – MetaTrader platform advanced add-ons (Windows only)
Virtual Private Servers (VPS) – Fast-access server for MT4 and MT5
News – Podcasts, economic calendar, and more
a-Quant
Account Types
GO Markets offers two main account types (Standard and GO Plus+) plus a Professional version. Both main accounts are available in nine different currencies and require a minimum deposit of A$200.
Standard Account
The Standard account is spread-based with no commission. Users have access to spreads of 1.0 pips, a minimum trade size of 0.01 lots, and leverage up to 1:500. It also has essential features such as 24/5 support, a dedicated account manager, free VPS, expert advisors (EAs), and scalping.
GO Plus+ Account
The GO Plus+ is an ECN-style account and offers all the same features as Standard, but instead includes ultra-low spreads from 0.0 pips. GO Plus+ accounts are subject to a $3.00 commission per side.
Professional Account
A professional version is also available for two categories of traders: sophisticated and high-net-worth investors. However, many retail traders won’t be able to use it because of the eligibility criteria.
The sophisticated investor must meet at least two of the following:
Been employed or has experience in the financial sector / has a formal qualification relevant to trading / can demonstrate product knowledge (75% pass mark)
Placed at least 20 trades with A$500,000 quarterly investment value / opened positions 50 times over the last 12 months in value of A$25,000 each
Has savings and investments over A$500,000 / a gross annual income of over A$100,000
High-net-worth investors must meet only one of the next criteria:
A gross income of at least A$250,000 for each of the past two years
A minimum of A$2.5 million net assets
Professional accounts offer lower leverage requirements, high-volume trades rebates, a dedicated support desk, professional reports, and single time up to A$100,000 negative balance protection.
Benefits
Advantages of opening an account with GO Markets include:
Trading and analysis tools such as Autochartist and Trading Central
No commissions with the Standard account
MetaTrader 4 and MetaTrader 5 platforms
0.01 minimum lot size and zero spreads
Award-winning customer service
No inactivity fee
1:500 leverage
Drawbacks
Disadvantages of GO Markets include:
Multiple restricted countries, including the US
Only two account types
No binary options
Trading Hours
Trading hours for forex range from 00:00 to 24:00 (GMT+3) Monday through Friday. Stocks and indices are dependent on the exchanges they are listed on, while cryptos are open 24/7.
In addition, a holiday schedule can be found at the bottom of the broker’s website.
Customer Support
The multi-lingual customer support service can be contacted 24/5 via:
Email – support.mu@gomarkets.com / newaccounts.mu@gomarkets.com / sales@gomarkets.com
Telephone number – Cyprus: +357 25023910 / United Kingdom: +44 203 637 7618 / Australia: 1800 88 55 71 / International: +61 3 8566 7680
Quick Support, at the bottom of the page, is an alternative to the GO Markets live chat logo which was removed. You can download it from the broker’s website, similar to an app, and it is compatible with most operating systems.
The Chinese help desk can be reached at:
Telephone number – 03 8658 0602 (墨尔本)
Email – enquiry@gomarkets.com
WeChat – gomarketsau3
Keep up with the latest news on GO Markets’ social media pages:
Twitter
YouTube
LinkedIn
Facebook
Instagram
GO Markets’ headquarters are at Level 11, 447 Collins Street, Melbourne, Australia.
The European office is at 73 Agias Zonis and Tertaiou Corner, Dena House, 3rd floor, 3090 Limassol, Cyprus.
They also have a branch in the UK under the name of GO Markets London Limited, situated on Level 6 107 Cheapside, London, England, EC2V 6DN.
Security
GO Markets complies with data protection laws under the Australian Privacy Act 1988 and the European Union General Data Protection Regulation (GDPR). MT4 and MT5 use the highest security standards, where data exchange between the client terminal and the platform servers is encrypted. Two-factor authentication can also be applied upon login.
GO Markets Verdict
GO Markets’ experience, award-winning support, and trading tools have earned it a solid reputation in the online forex industry. The MT4 and MT5 platforms are ideal for traders of all levels, and the tight spreads and low commission fees make them an attractive option for anyone looking to trade assets efficiently.
Accepted Countries
GO Markets accepts traders from Australia, Thailand, United Kingdom, South Africa, Singapore, Hong Kong, India, France, Germany, Norway, Sweden, Italy, Denmark, United Arab Emirates, Saudi Arabia, Kuwait, Luxembourg, Qatar and most other countries.
Traders can not use GO Markets from Afghanistan, Azerbaijan, Bahamas, Belize, Bosnia And Herzegovina, Burundi, Canada, Central African Republic, Congo, Cote D’Ivoire, Egypt, Eritrea, Ethiopia, Ghana, Guinea-Bissau, Haiti, Iran, Iraq, Israel, Japan, Lebanon, Libya, Myanmar, New Zealand, Nicaragua, Korea, Pakistan, Palestine, Serbia, Sierra Leone, Somalia, Sudan, Sri Lanka, Syria, Trinidad And Tobago, Tunisia, Ukraine, United States, Venezuela, Yemen.
Alternatives to GO Markets
If you are looking for alternatives to GO Markets we have compiled a list of the top 5 brokers that are similar to GO Markets below. This list of brokers like GO Markets is in order of similarity and only includes companies that accept traders from your location.
Infinox – Infinox is a UK-based broker offering MT4 trading with tight spreads.
Just2Trade – Just2Trade offer high tech trading on stocks and options with some of the lowest prices in the industry.
FP Markets – FP Markets is a multi-asset broker offering a choice of trading platforms.
RoboForex – RoboForex is a multi-asset online broker offering powerful trading aides.
Vantage – Reliable and affordable trading since 2009. Join over 900,000 others trading on 400+ CFD products over assets like forex, gold, indices, cryptocurrency and shares from 0.0 spreads through TradingView, MT4 or MT5. Vantage is ASIC regulated and client funds are segregated. Open an account in under 5 minutes.
FAQ
How much capital do I need to trade with GO Markets?
The starting deposit is A$200 on both the Standard account and GO Plus+ account.
What account base currencies are available on GO Markets?
You can hold your funds in one of the following base currencies: AUD, USD, GBP, EUR, NZD, SGD, CHF, CAD, and HKD.
Does GO Markets offer a demo account?
You can open a demo account by filling out a straightforward form on the broker’s website. The demo account will give you access to $50,000 in virtual funds to practice trading.
How quickly are GO Markets withdrawals processed?
GO Markets aims to process all withdrawal requests received before 1 pm AEST on the same day and any received after 1 pm AEST will be processed the following day. In general, local transfers may take 1-2 business days, and international transfers may take 3-5 days for funds to be cleared.
What is the difference between the Standard & Advanced GO Markets accounts?
Clients will enjoy tighter spreads with the GO Plus+ account, however, there will be a commission for every trade placed.
Does GO Markets Offer A No Deposit Bonus?
No. GO Markets doesn’t have this type of bonus. All current promotions require capital and a live trading account.
Is There A GO Markets Office In The United Kingdom?
Yes, GO Markets UK Trading Limited is situated at Level 6 107 Cheapside, London, England, EC2V 6DN.
Does GO Markets Have PAMM Accounts?
PAMM (percent allocation management module) accounts are not currently available at GO Markets.