Go Markets Review

Is GO MARKETS one of the best Australian Forex Brokers? We conducted an in-depth review to find out the answer and bring it to you! Recently has been included by Engine Forex among the ASIC Forex Brokers, Best Forex Brokers for Crypto, Best Gold CFD Trading Brokers.

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 review

Our Rating: 8

Reliability 90%
Offers 70%
Customer Service 80%
Spread 80%
Speed of Execution 80%
Uptime 80%

Trading Conditions

Max Leverage:500:1
Platform:  
Min Deposit:$200
Spread:From 0.0 Pips
Cuts out Dealing Desk:No

Methods of deposit and offers

Deposit / Withdraw:       
Welcome offer:Up to 10% trading credit on 1st deposit
Rebates Engine Forex:Coming soon!

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

$6 commission per standard lot round-turn
Up to 500:1 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%

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

OUR 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. 

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