GO Markets Review

GO Markets

  • Fully regulated by the Australian Securities and Investments Commission (ASIC)
  • Offers 0.4 pips spread on Pro Account High level of leverage - 300:1 on both account types
  • Requires only A$200 to open the Standard Account
$250 AUD Cash Back
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Details

BrokerGO Markets
Website URLwww.gomarkets.com.au
Founded2004
HeadquartersGO Markets Pty Ltd / Level 50, 120 Collins Street, Melbourne, VIC 3000, Australia
Support Number 1800 88 55 71 ( Australia )
LanguagesEnglish , Chinese
Minimum 1st Deposit$200 AUD
Minimum Account Size$200 AUD
Bonus$250 AUD Cash Back
Leverage300:1
Spread From 0.4 pips
Free Demo AccountYes
Regulated Yes
RegulationAustralia
Speed of ExecutionFast
Type of ProductsForex , Binary Options , Commodities , Indices
Australian Regulated Yes
Mobile Trading Yes
Tablet Trading Yes
Overall Score4.7

Pros

  • Go Markets is regulated by the Australian Securities and Investments Commission (ASIC)
  • Offers 0.4 pips spread on Pro Account High level of leverage - 300:1 on both account types
  • Requires only A$200 to open the Standard Account and A$1,000 to open the Pro Account

Cons

  • Go Accounts spreads are low, but variable and can go up during important news releases.

Latest Go Markets review: June 6th, 2017

Full Review

Full review on Go Markets

Go Markets is one of those old school brokers that Forex traders simply trust because of the reputation they have built over the years. Founded in 2006, Go Markets is one of the pioneers of the Forex industry in Australia. Go Markets is registered as GO Markets Pty Ltd (ABN 85 081 864 039.& ACN 081 864 039) and the company is regulated by one of the most strict government regulatory authorities in the world, the Australian Securities and Investments Commission (ASIC – AFSL No. 254963).

While other brokers often try to attract clients by offering fringe benefits and bonuses, GoMarkets.com.au have always focused on improving their core trading features that compete to be the most efficient Forex brokers in the market, not only in Australia – but in the world.

Trading Services

Go Markets Review - 03

When it comes to trading services, Go Markets understands that there are basically two types of traders, beginners – who wants to learn trading Forex as a business and professionals – who make a living from their trading.

Hence, instead of offering a lot of account types. Go Markets only offers two types of accounts, the Standard Account for beginners and the Pro Account for professional retail traders as well as other institutional traders.

Go Markets Review - 02

In order to open a Standard Account, Go Markets requires only A$200 initial deposits and offers all the features of the Pro Account. However, the key difference between these two account types is that the Pro Account charges a commission of $3.5 per 100K (AUD) traded on their platform, while the Standard Account only charges spreads.

Go Markets Review - 06

Besides the different pricing structure, the Standard Account also charges a higher spread to traders, 1.2 pips on EUR/USD compared to only 0.4 pips on the Pro Account. Which is still very competitive.

On both accounts, traders are offered a generous 300:1 leverage.

Go Markets offers a free demo version, which traders can use to familiarize themselves with the Go Markets before opening a live account. Our research found that the demo account expires after 30 days.

Trading Platforms

Go Markets Review - 05

Go Markets offers MetaTrader 4 to both Standard and Pro Accounts customers. However, customers with Pro Accounts are automatically eligible to download a much improved version of the standard MT4 platform. It is called the MT4 Genesis. However, standard account holders who have deposited over A$1,000 into their account can also request to get access to the MT4 Genesis platform.

MT4 Genesis enables Go Market customers to “access a set of trading tools that will enhance the power of your standard MetaTrader 4 platform and help traders optimize their ability to trade successfully,” says Go Markets’ website.

Among many, some of the special tools included in the MT4 Genesis platform are a newly designed terminal window, the Mini Terminal, Session Map, Correlation Trader, and Sentiment Indicator.

Go Markets Review - 04

Besides the MT4 and MT4 Genesis, which comes with the default mobile trading apps for Android and iOS devices (iPhone/iPad), Go Markets also offer a fully cloud based trading platform called the Go EzyTrader, which is basically a re-branded version of the WebTrader platform offered by other brokers.

With the WebTrader, Go Markets customers can gain full access to their MT4 trading account and place/modify orders from any modern browser.

Speed of Trade Execution

Based on our research regarding the major Forex brokers around the world, we have found the speed of trade execution of Go Markets to be at 100 percentile rank. Which means, Go Markets’ speed of trade execution is better than 100 percent of the Forex brokers, making it the best Forex broker as far as trade execution is concerned.

Customer Support

Although we could not find a dedicated contact page on the Go Markets website, they do provide all the modern communication channels to reach their customer service representatives. Just that we found these contact details scattered around their home page.

Customers can email them at support@gomarkets.com.au and they have listed Level 50, 120 Collins Street, Melbourne, VIC 3000, Australia as their office address on the website.

Besides the option to reach them via email, Go Markets has also listed three dedicated numbers to serve different geographic locations. For example, customers from Australia and Europe can call two different numbers 1800 88 55 71 (AUS) and +44 207 621 8925 (UK), respectively. On the other hand, customers from other regions and countries can call another dedicated number (+61 3 8566 7680) to reach Go Markets customer support in Australia during business hours, which is Sunday, GMT 21:00 to Friday GMT 21:00.

Go Markets Review: Conclusion

They have recently announced that they are going to start using Currenex technology to provide more liquidity to their customers. Only top level brokers can afford to offer liquidity from a premium provider like Currenex and it would certainly help their customers to enjoy the better order execution.

Although Go Markets offers the popular MT4 platform, they are a no-dealing desk broker, meaning all orders is directly routed to the market.

As one of the most reputed Forex brokers in Australia, They have served a generation of retail traders who have graduated from their Standard Account to the Pro Account over the years. More importantly, Go Markets have always stayed at the forefront of the industry by offering new and innovative trading solutions to their customers.

If you are just starting your journey as a Forex trader, GoMarkets.com.au would be the go-to broker. However, they also have a bundle of surprise for professional traders and if you are looking for a new Forex broker, you may give them a try.

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Asif worked as a prop trader for almost a decade, and later he managed trading operations for one of the largest foreign exchange strategy developers in Europe. Currently, he works as a trading consultant to several brokers and writes about various tech and financial topics. You can reach him at contact@asifimtiaz.com

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