GO Markets is launched in 2006 as a brokerage company operating under the ASIC (Australia) supervision. It fully complies with the local laws and is driven by compliance, competitive spreads and technology.
Where is GO Markets based?
The brokers is headquartered in Australia. It brings in a valued trading environment connected to advanced technologies and allow traders to develop strategies and improve trading outcome.
Overall, Go Markets promises together with its continuous provided support and challenges great opportunities available for successful trading performance of any size trader. So let us see closer within Go Markets review what is so rewarding and good about its proposal.
Is GO Markets safe or a scam?
The first thing to check before continuing broker Go markets review is its license and applicable registrations which ensure a safe trading environment. GO Markets is authorized to operate financial services under the Australian Financial Services Licence, known worldwide as ASIC.
• Regulated broker with good record and history of operation
• ASIC license and overseeing
• Global expand
Concluding in simple words it means that all tools and applicable set-ups providing a safe trading environment, according to regulatory requirements and numerous audit rules. As an OTC derivative provider, GO Markets is required to adhere to disclosure benchmarks set by the corporate ASIC, while in reverse the investors understanding the risks and potential benefits.
Generally, risk management maintained by various practices, among the considerations of hedging counterparties and clients’ funds’ segregations at the National Australian Bank (NAB), along with margin calls and fair usage policies. Also, being a fully authorized financial trading provider GO Markets adheres to strict protection of the clients’ funds through segregation, and also fair conditions that are constantly monitored and audited by the authority.
Another great feature while trading Forex is an allowance to use leverage, which may potentially increase your gains timely. However and in order to minimize risks as well, which work in both directions, it is necessary to learn how to use leverage smartly.
What is the Maximum leverage in GO Markets?
GO Markets as an Australian broker allows high leverage ratios up to 1:500 for Forex instruments. Refer to the table below and see how ratios are also spread according to the account size.
The account opening from which you will have access to the trading account, your money management, fee reports and other tools all featured GO Markets account area which you can open through seamless fully digital signing in.
• Fast account opening
• Standard and GO Plus+ ECN Account
• Range of Account base currencies
The broker offers two account types Standard and GO Plus Accounts with the flexibility to manage the trading way and choose the best fit. So there is an option between Standard trading proposal based on spread charges via GO Plus+ specifically designed through light-fast technology.
In addition, the account can be opened in a few different currencies as a base one that including AUD, USD, GBP, EUR, NXD, SGD.
How to open your Account
At first, you may open a Demo account which will require only to create the login page with email address and password. Further on if you decide to go Live you should follow the next steps
- Enter all the parameters including Name, email, Phone, etc
- Choose the account type and base currency
- Specify your trading experience and expectations
- Upload proof of address, ID, etc (due to regulatory requirements)
- Once your account approved follow with money deposit
So as we see, the Standard account defines no commission bases, bringing spread only basis starting from 1.1 pips option and is the best match to start trading with no complications.
Further, GO Plus Account is already a choice for advanced traders or those who’s strategy requires it as spreads from 0.0 pips and trading costs inbuilt in the commission of 3.00$ per side.
• Available options between only spread account or commission charge through GO Plus+Account
• Low CFD fees
• Good Standard account spreads
• No hidden costs
GO Markets spreads as mentioned designed at the account you use, while Standard account will offer slightly higher spread and Plus traders enjoy interbank spread but with commission per trade. For instance, see below a comparison of the Standard spread offering, as well you compare fees to another popular broker IC Markets.
Also, always consider overnight fee as a cost, also known as Rollover rate or interest for holding positions open overnight.
The offering of instruments based on the range of more than 350+ instruments through CFDs of Forex, Indices and Commodities markets, as well as Binary options and Cryptocurrencies. While each instrument has its own specifications and trading conditions, we appreciate the offered range as it allows to diversify portfolio and trade competitive markets.
Overall, the Cryptocurrency trade developed by the leverage of 5:1 for Bitcoin and Ethereum with the maximum size of 5 trading and margins of 20%. The Binary trading, which is luckily available at Go markets too offering attractive returns between 60-80% potential return with the low commitment from 5$ while 500$ trades accepted on major currency pairs on a 5 minute time.
Deposits and Withdrawals
Deposits to the live trading account can be done in numerous convenient ways while the payments will attract no additional processing fees. GO Markets does not charge any internal fees for withdrawals, however, fund withdrawals to non-Australian banking institutions may be waved for some fees and are your responsibility, so make sure to check those as well.
The payment options including
- Credit or Debit Card,
- bank to bank through Australian banking institutions,
- BPAY payments,
- e-payments like Skrill, Neteller, POLi
Likewise deposit option you may use the same methods for money withdrawal, yet verify with customer service what method is applicable for you according to your own residence and its policies, or laws applied.
How long does it take to withdraw money from GO Markets?
Withdrawal of money isn’t a complicated process, actually, all money management happens right from your online account area, where withdrawal requests can be submitted at any time. Typically GO Markets, as a regulated broker process withdrawals within 1-2 business days, however, allow additional time for your payment provider or other procedures.
MT4 is truly considered as a Forex standard for the traders around the globe indeed, thus GO Markets chose their mainstay as this technology but actually MT4 may vary from the company to another since the broker can implement various extensions as well to provide better features.
So looking at GO Markets platform we found its comprehensive and advanced edition, where various versions supported and inbuilt. So you will find Web Trading platform which is great use at any device since does not require installation, yet might be a bit less advanced with the tools.
Desktop Trading Platform
Being the most widely used platform MT4, of course, available and suit versions for Mac and PC, which are definitely a must for advanced or active traders. In GO Markets desktop platform you can enjoy full capabilities and great customization, along with a fantastic proposal from GO Markets that include advanced tools alike MT4 Genesis. As it helps to navigate through global markets as well as computable with automatic trading through Expert Advisors and numerous built-in indicators.
Look and feel
So being a great platform for all levels of traders, MT4 is excellent charting software where parameters or drawing objects stands of a very high level. The look itself is clean and comfortable in addition to 3 types of charts and display options.
Furthermore, the GO Markets enlarge their offering by adding MetaTrader 5 to their proposal too, which is a more new and developed version of beloved MT4 one. So if you prefer this software go ahead, along with a copy and social trading options that are reachable through Myfxbook, a world-leading platform with over 90,000 people that allow to be copied or copy trading professionals to the benefit of both.
Mobile Trading Platform
Of course, all platforms feature mobile trading app, so you can use Mobile devices that are bringing absolute freedom to trade. Both platforms MT4 and MT5 feature Go Markets mobile platform along with its seamless versions all attached to one account.
So again Go Markets Customer Service was rated #1, in addition to its great Awards received in other aspects. Successful broker recognized the need for quality service, but of course, not everyone can have one.
However, GO Markets standing ahead in that point too, so you can count on relevant and fast answers from the Customer Support GO Markets. Broker’s team available around the clock and supporting international languages accessible via Live Chat, email, and phone lines in Australia, UK and International as well.
Overall, the GO Markets review shows a broker which performs a straight trading process with numerous offered benefits and indeed a vast amount of excellent rewards received either from industry publish or worldwide traders.
One of the main attractions is a comprehensive range of trading instruments with competitive pricing according to each of offered account types that are starting from 0.0 pips.
Furthermore, the mainstay at well-known MT4 broker enhanced proposal with powerful technical tools with free use, allowing traders of any style and budget find a way to engage, as well as through Social trading environment. So all in all, we would strongly consider GO Markets as together with strong adherence to regulation the broker indeed delivers quite good trading proposals suitable for both beginners and professionals.
Risk Warning: “CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74-89% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.”
This review has been conducted independ- ently. Products included on this site may not suit your personal objectives, financial situation or needs. Please consider whether it is appropriate for your circumstances, before making a decision to purchase or apply for any product. If you are considering acquiring any financial product you should obtain and read the relevant Product Disclosure Statement or other offer document prior to making an investment decision. GO Markets IB number: 21292