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Is GO MARKETS one of the best Australian Forex Brokers? We conducted an in-depth review in November 2018 to find out the answer and bring it to you!


Another complete and unbiased Review from Engine Forex

Established in 2006, GO Markets is operated by Go Markets Pty Ltd, an Australia-based Forex, CFD and options broker that is headquartered in Melbourne.

GO Markets is one of the most recognised brands on the Australian Forex and options market with a solid reputation and client base.

GO Markets are renowned for bringing MetaTrader 4 to Australia back in the year 2006 when they first started out. Since then, they have focused solely on this platform, offering special add-ons, trading and charting tools and other features with MT4 Genesis.


GO Markets

Our Rating

The overall rating is based on review by our experts

8.0 4.0 1
  • Reliability 9 / 10
  • Spread 8 / 10
  • Customer Service 8 / 10
  • Offers 7 / 10
  • Speed of Execution 8 / 10
  • Uptime 8 / 10

This post is also available in: deDeutsch

GO Markets - Overview

Trading Conditions

  • Max Leverage
    300:1
  • Platform
    MetaTrader4 MetaTrader5 Myfxbook
  • Min Deposit
    $200
  • Spread
    From 0.0 Pips
  • Cuts out Dealing Desk
    No

Methods of deposit and offers

  • Deposit / Withdraw
    VISA , MasterCard PayPal Skrill Neteller Poli Wire Transfer BPay
  • Welcome offer
    Up to 10% trading credit on 1st deposit
  • Rebates Engine Forex
    Coming soon!

Extras

  • Crypto
    Bitcoin Ethereum Ripple Litecoin Bitcoin-cash
  • Headquarter
    Melbourne

SECURITY, MARGINS AND TECHNOLOGY

SECURITY AT GO MARKETS

In Summary

  • ASIC regulated
  • High-level web security

Holding an Australian Financial Services Licence (AFSL) and being authorised and regulated by the Australian Securities and Investment Commission (ASIC), GO Markets ensures that all client money is held safely in a segregated bank account and is never used for hedging or other operational purposes.

GO Markets doesn’t take its clients’ safety and security lightly and ensures that all user data is stored on secure servers that are located in London and New York.

Spreads Comparison

GO MARKETS
80
PEPPERSTONE
100
THINK MARKETS
80
OANDA
60
IC MARKETS
100
PLUS 500
30

CHARGES AND MARGINS AT GO MARKETS

In Summary

  • Spread mark-up or
  • $6 commission per standard lot round-turn
  • Up to 300:1 leverage

GO Markets offers three different account types: Standard, Pro and Plus. These differ in a few ways and come with different spread and commission features.   

Overall, GO Markets offers very low spreads, starting from 0.0 pips (raw spreads with a Plus Account) on Forex pairs with a 300:1 leverage and typically a margin requirement between 1 and 2%. Minimum contract sizes are 0.01 micro-lots for both account options. No commissions are charged for Forex trades.

Go Markets offers clients 12 cash and 2 further futures CFDs; for example, Australia’s ASX 200, the US S&P 500, UK’s FTSE 100, Germany’s DAX 30 or Hong Kong’s Hang Seng. Minimum trade sizes are at 0.1 lots with minimum margin requirements ranging from 0.5 to 1.5% for all cash CFDs and between 1 and 5% on future CFDs.

In addition, four commodity CFDs and five cryptocurrencies (Bitcoin, Ethereum, Ripple's XRP, Litecoin and Bitcoin Cash)  are available for trading variable spreads and lot sizes.

TECHNOLOGY

In Summary

  • Solid trade execution
  • MT4 Genesis
  • MT5 & Myfxbook AutoTrade
  • VPS available

Focussing on MetaTrader 4 alone, GO Markets is widely recognised as the online broker that originally brought MetaTrader 4 to Australia in 2006.

GO Markets has invested a lot of effort in further developing the industry standard platform, pimping it up with special tools and features that can take its clients’ trading experience to the next level. Advanced MT4 add-ons can be accessed by upgrading to MT4 Genesis.

As newly introduced trading platforms MT4's little brother MT5 as well as the popular social trading platform Myfxbook AutoTrade have been introduced to GO Markets' portfolio.

Forex, indices, commodities and cryptocurrencies can all be traded through its take on MT4. Indicators have been built in that analyse all market movements, allow advanced charting options and make full use of EAs (Expert Advisors) to automate trading. The platform gives traders access to a professional suite of MT4 that, as an example, allows users to access market insights and track market sentiment.

Further, a free VPS service is offered to clients who deposit a minimum of $3,000.

GO Markets has invested a lot of effort in further developing the industry standard platform, pimping it up with special tools and features that can take its clients’ trading experience to the next level. Advanced MT4 add-ons can be accessed by upgrading to MT4 Genesis.

Execution of Speed Comparison

GO MARKETS
80
PEPPERSTONE
100
THINK MARKETS
90
OANDA
80
IC MARKETS
100
PLUS 500
70

CUSTOMER SERVICE, TRADING OPTIONS AND SPECIAL FEATURES

AN OVERVIEW OF GO MARKETS' CUSTOMER SERVICE AND CLIENTS

In Summary

  • 24/5 customer support
  • Offers promotions
  • 3 account types to choose from

GO Markets offers very good customer care via its 24/5 support centre which clients can access via live chat, phone or email in multiple languages. It also offers a selection of quick help solutions in its FAQ section. Live clients all get access to an individual account manager.

GO Markets offers several promotions to its clientele, such as sign-up bonuses of up to 10% and trading bonuses of up to $1,000 (or currency equivalent). Other offers are also made available from time to time.  

Clients can choose between three different account types, Standard, Pro and Plus; six account currencies, AUD, NZD, USD, EUR, SGD and GBP; and a number of deposit and withdrawal options, although PayPal is not one of them, which may be a problem for some clients.

All three account types come with up to 300:1 leverage, contract sizes from 0.01 micro-lots and the ability to access a free VPS service with a deposit of $3,000 or more.

Spreads start from 1.0 pips (on Standard account) and minimum deposits from $200 with a Standard Account. Spreads start at 0.0 pips but the minimum deposit requirement is $500 with a Pro Account, and a commission fee of AU$ 3,00/standard lot per side is charged with this account type. On Pro accounts, clients have access to the raw interbank spreads starting from 0.0 pips. 

Overall, more than 90 financial instruments are available to trade, including Forex (50+ currency pairs), indices, commodities, cryptocurrencies and binary options, which is a solid amount but by far not the strongest in the market. Depending on your needs, this may be beneficial or limiting.

FOREX AND OTHER TRADING OPTIONS AT GO MARKETS

In Summary

  • 50+ currency pairs
  • 5 cryptocurrencies
  •  Metals + energies
  • 12 indices CFDs

GO Markets offers 50+ currency pairs, 5 cryptocurrencies, 4 metals and 12 indices CFDs in addition to metals, energies and options.

Average spread sizes on Forex start from 1.0 pips on AUD/USD, for example, and traders can choose from more than 50 currency pairs. GO Markets offers a competitive 300:1 leverage and their clients can start trading with deposits as low as $200 when using a Standard Account. 

Trading options on indices include 12 cash and two further futures CFDs; for example, Australia’s ASX 200, the US S&P 500, UK’s FTSE 100, Germany’s DAX 30 or Hong Kong’s Hang Seng. Minimum trade sizes are at 0.1 lots with minimum margin requirements ranging from 0.5 to 1.5% for all cash CFDs and between 1 and 5% on future CFDs.

GO Markets clients can further trade Bitcoin, Ethereum, Ripple's XRP, Litecoin and Bitcoin Cash as well as four commodities CFDs with variable spreads and lot sizes.

It is worth highlighting that GO Market account holders have the ability to trade binary options. Clients can start trading options with as little as US$ 5.00, and there are multiple time frames to trade on: 1, 2, 5, 10, 15, 20, 30 and 60 minutes.

SPECIAL FEATURES OF GO MARKETS

In Summary

  • True ECN broker
  • Top-notch technology including unique MT4 add-ons
  • Very tight spreads & leverage up to 300:1
  • CNS VPS offering

GO Markets offers excellent 24/5 customer service in multiple languages. Each live account holder gets access to a dedicated account manager.

Go Markets focuses purely on the MT4 as a trading platform and advanced MT4 add-ons can be accessed by upgrading to MT4 Genesis.

MT5 and social trading platform Myfxbook AutoTrade are further available.

Full access to EAs.

A free VPS service is available to account holders (regardless of whether they are Standard or Pro Account holders) who deposit a minimum of $3,000.

There is a first deposit promotion of up to 10% on offer with a maximum trading bonus of $1,000.

Go Markets focuses on the MT4 as a trading platform and advanced MT4 add-ons can be accessed by upgrading to MT4 Genesis.

Max Leverage Comparison

GO MARKETS
300:1
PEPPERSTONE
500:1
THINK MARKETS
400:1
OANDA
100:1
IC MARKETS
500:1
PLUS 500
300:1

IN CONCLUSION

GO Markets is one of Australia's leading online Forex brokers providing very good service to its clientele. A very solid range of tradable instruments is available and the overall trading environment is on a high level with this Melbourne based broker.