GO Markets Review 2019 | Is GO Markets a Scam or Legit Forex Broker?
Rating breakdown
GO Markets Overview
GO Markets is an ASIC regulated Australian brokerage firm founded in 2006. It offers over 250 forex/CFDs assets for trading on its MetaTrader platforms.
| # | Broker's Features | GO MARKETS Availability |
|---|---|---|
| # | Commissions | ✔ |
| # | Hedging | ❌ |
| # | PAMM | ❌ |
| # | Scalping | ❌ |
| # | Accepts US traders | ❌ |
| # | 24 hour trading | ✔ |
| # | Swaps | ❌ |
| # | Demo account | ✔ |
| # | Daily analysis | ❌ |
| # | Automated trading | ❌ |
| # | Mobile trading | ❌ |
| # | Trading by phone | ❌ |
| # | 1st deposit bonus | ❌ |
| # | Forex contests competitions | ❌ |
| # | Bonuses Promotions | ❌ |
| # | Interest charges on the balance | ❌ |
| # | Free education | ❌ |
| # | Expert advisors | ❌ |
| # | Partnership programs | ❌ |
| # | Trust management | ❌ |
| # | 24 hour support | ❌ |
The variety of online brokers on the internet is very huge, so it is necessary to do a transparent review and comparison of the companies. After spending several days researching different forex brokers for trading FX, our team at onlineforextrading.net team collected over 50 data points. For this review, we will review GO Markets.
Financial Trading and Investment Services: First of all, you should know which financial instrument you want to trade and then searching for the right broker. This can be stocks, forex, CFDs, cryptocurrencies or options. GO Markets offers Online Financial Trading and Investment Services Such as Currencies, Commodities, Indices, Stocks, Cryptocurrency.
Tradable Products: GO Markets offer 28 currencies pairs, 2 metals, 12 indices, 2 commodities, 2 futures and over 200 ASX stock shares.
Broker Type: Many types of brokers can be found in the most dynamic market in the world. GO Markets is ECN, Market Maker, No dealing desk, STP.
As GO Markets offer STP execution, you can expect tighter spreads with more transparency over the price you‘re paying to execute your trades. As a market maker, GO Markets may have lower entry requirements compared to an ECN broker who benefits from a higher volume of trades and typically has larger capital and minimum trade requirements. Market makers typically have a lower minimum deposit, smaller minimum trade requirements and no commission on trades.
Minimum Deposit Requirement: To properly understand if a broker is suitable for a certain trader, we will then take a look at how much is required as a basic minimum to open an account. You need to consider how much money you can spare to start off a Forex brokerage. GO Markets recommended minimum capital is $200.
Is the Forex broker regulated? Commissions and fees aside, let's take a look at regulation. Trust is critical, and you should highly consider choosing a broker that regulated in a major hub. GO Markets is regulated by ASIC. For our reviews, official regulation of an official financial authoritarian is required. Brokers have to fulfill certain conditions to get these licenses. In order to violate the rules, they would lose their license and a lot of money.
Investor Protection & Regulations: GO Markets is regulated by ASIC in Australia. Client funds are held safely in the National Australia Bank and Commonwealth Bank. A digitally secure environment is maintained so that clients can trade and transact safely.
Languages Available: Next lets have a look at each broker's different Language options. GO Markets offers Chinese, English, French, German, Indonesian, Mala.
Payment methods: Next lets have a look at each broker's payment options. GO Markets offers China UnionPay, Credit/Debit Cards, FasaPay, Neteller, Skrill, Bank Wire Transfer different payment methods for each account types.
Deposit and withdrawal: GO Markets accept credit cards, debit cards and bank wire transfers. The broker also accepts POLi, BPay, Fasapay, Skrill and Neteller payments. No internal transaction fees are charged.
Trading platforms: Next, let's look at the tools and features fx traders desire. With trading platforms, GO Markets makes MT4, MT5 available to clients.
Web & Desktop Trading Platforms: The MT4 and MT5 platforms are provided by GO Markets. These are both Metaquotes platforms and are extremely popular. They are available as web based, download and mobile.
Mobile Trading Platforms: The MT4 and MT5 mobile app is provided by GO Markets. They are separately available for the android and iOS devices. The apps can be downloaded from their respective stores.
Trader Education
The GO Markets ‘forex education centre’ has video lessons, eBooks and forex education courses. It is suited for beginners or more advanced traders
Promotions
$100 Refer A Friend Bonus
Support
GO Markets customer support is reachable via email, phone, contact us form, web chat and social media 24/5. The support team is friendly, fast and efficient.
Recup
GO Markets asserts that it is one of the first brokers to introduce MT4 to Australia. Since 2006, the broker has maintained consistent growth to become one of Australia’s leading brokers. Both the MT4 and MT5 platforms offered are perfect for analysis, manual and auto trading, strategy development and all trading styles.
Final Thoughts
The tools provided to traders are invaluable for a sound trading experience. With the combination of Autochartist, trading central analysis and MT4 genesis, GO Markets can be used by traders to trade forex and CFD assets efficiently and with all the tools they need.
Trading Experience
GO Markets designed its services to benefit all traders. The broker provides all the necessary tools needed by most clients in their daily analysis and trading.