GO Markets Review 2022

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GO Markets is an ASIC-regulated FX & CFD broker with leveraged trading opportunities and spreads from 0.0 pips.

Awards
  • No. 1 For Educational Materials, 2019-2021 - Investment Trends Australia Leverage Trading Report
  • No. 1 For Value for Money, Spreads, Trading Ideas & Strategies and Margin Requirements, 2021 - Investment Trends Australia Leverage Trading Report
Bonus30% cash rebate
InstrumentsCFDs, forex, indices, shares, energies, metals, cryptocurrencies
Demo AccountYes
Min. Deposit$200
Payment Methods
Min. Trade0.01 lots
Regulated ByASIC, CySEC, FSC of Mauritius
MetaTrader 4Yes
MetaTrader 5Yes
cTraderNo
OmniTraderNo
AlgoTraderNo
TradingViewNo
Trading CentralYes
AutochartistYes
eSignalNo
STP AccountYes
ECN AccountYes
DMA AccountNo
MAM AccountYes
PAMM AccountNo
LAMM AccountNo
Demat AccountNo
Mobile AppsiOS & Android
Margin TradingYes
Volatility IndexNo
Spot TradingYes
Perpetual SwapsNo
ELWsNo
REITsNo
AI / Machine LearningNo
Robo AdvisorNo
P2P TradingNo
Negative Balance ProtectionYes
VPS HostingYes
TournamentsNo
Demo CompetitionsNo
Managed AccountsNo
Market MakerNo
Auto TradingYes
Social TradingYes
Copy TradingYes
Trade SignalsYes
Islamic AccountNo
Account Currencies
  • USD
  • EUR
  • GBP
  • CAD
  • AUD
  • NZD
  • CHF
  • HKD
  • SGD
Inactivity Fee$0
Guaranteed Stop LossNo
Stock Exchanges
  • Australian Securities Exchange
  • CAC 40 Index France
  • DAX GER 40 Index
  • Dow Jones
  • Euronext
  • FTSE UK Index
  • Hang Seng
  • Japan Exchange Group
  • Nasdaq
  • New York Stock Exchange
Commodities
  • Gold
  • Oil
  • Silver
  • Wheat
CFD TradingTrade CFDs on forex, indices, shares, precious metals, and energies.
CFD FTSE Spread1 - 2.3 points
CFD GBPUSD Spread0.0 - 1.5 pips
CFD Oil SpreadVariable
CFD Stocks SpreadVariable
CFD Leverage1:500
Forex TradingTrade with leverage on dozens of popular currencies.
Forex GBPUSD Spread0.0 - 1.5 pips
Forex EURUSD Spread0.0 - 1.2 pips
Forex EURGBP Spread0 - 1.4 pips
Forex Assets50+
Crypto TradingTrade the most popular cryptocurrencies including Bitcoin and Ethereum.
Crypto SpreadVariable
Crypto LendingNo
Crypto StakingNo
Crypto MiningNo
Crypto Auto Market MakerNo
Crypto Coins
  • BCH
  • BTC
  • ETH
  • LTC
  • XRP
Risk Warning – Your capital is at risk

GO Markets is an award-winning Australian forex broker and CFD provider, offering the MetaTrader 4 and MetaTrader 5 platforms. This 2022 review will unpack what GO Markets has to offer traders today, covering its demo and real-money accounts, as well as leverage and fees. Find out if you should start trading with GO Markets.

GO Markets Details

Founded in 2006, GO Markets is one of Australia’s first MetaTrader 4 (MT4) forex brokers. The provider has since added MetaTrader 5 (MT5), WebTrader, and mobile trading to its suite of services.

Based in Australia and licensed by the Australian Securities and Investment Commission (ASIC), the group now has offices in London, Taipei, and Hong Kong. In 2020, the broker obtained a license to expand into the Middle East and Northern Africa region, operating as GO Markets MENA DMCC in Dubai, UAE.

Over the past 15 years, the company has won a number of awards for its services including No.1 for Education Materials/Programmes as well as the highest rated broker in the service areas of Value for Money, Spreads, Trading Ideas & Strategies and Margin Requirements, by Investment Trends.

GO Markets also provides 24/5 customer support, spreads from 0.0 pips, plus no deposit fees, making it a popular brand with beginner traders.

Trading Platforms

Go Markets offers two industry-leading platforms: MetaTrader 4 and MetaTrader 5. Both are available to download on Mac and Windows PCs as well as mobile and tablet devices.

MT4

The MetaTrader 4 (MT4) platform is a multi-feature terminal particularly popular amongst forex traders.

Key features include:

GO Markets MT4 platform
MT4 platform

MT4 is suitable for all. Its intuitive platform makes it easy for beginners to navigate whilst its suite of tools for analysis caters to more experienced traders.

MT5

Clients can also trade on MetaTrader 5 (MT5), a more advanced platform offering superior tools. MT5 provides flexible trading, professional analysis, algorithmic trading and virtual hosting. Other features include:

GO Markets review
MetaTrader 5

Traders should note that platform availability will vary between locations. UK based clients do not have access to MT5 through GO Markets, whilst the platform is supported in Australia.

WebTrader

The GO Markets WebTrader platform offers all the features available on MT4 or MT5, within a web-based terminal that can be accessed directly from any internet browser.

With no app or browser extension download needed, WebTrader allows users to trade CFD instruments and access price analysis from anywhere with an internet connection. It is a suitable option for clients and beginners seeking an easy-access platform.

WebTrader is compatible with Windows, Mac, and Linux OS.

How To Place A Trade:

Social Trading: Myfxbook

Myfxbook AutoTrade is a global copy platform and social trading community. With over one million customers, it easily connects with your GO Markets Standard trading account, allowing users to:

Upon receiving login details for MT4/MT5, traders can then register for a Myfxbook account through the website.

Share Trading Platform

TradeCentre by FinClear is a web-based and mobile platform that you can access and download from GO Markets’ website.

You can trade shares and manage your account. It allows you to purchase and sell, check market data, and receive news about incoming floats and dividends.

You also get useful tools like watchlists and heat maps. Additionally, it comes in a Pro version for advanced traders.

Markets

GO Markets users can trade over 600+ products within six main asset classes:

Note, cryptocurrency trading is only supported in certain markets. Binary options is also not available at GO Markets, not even on demo accounts.

Spreads & Fees

Reviews show that spreads are competitive, ranging from 0.0 to 12.2 pips on major and minor forex pairs, while the minimum on indices starts at 0.1 points. Spreads on gold, silver, and crude oil are variable with live pricing available on the broker’s main page.

Other trading costs include commissions (only on the GO Plus+ account) of A$3.00 per side on a standard lot, as well as swap rates when you buy or sell a currency pair and hold it overnight.

Overall, if you compare GO Markets vs. the likes of Pepperstone or IC Markets, the broker’s commissions and spreads are competitive.

Leverage Review

GO Market offers leverage up to 1:500 on forex pairs, up to 1:20 on share CFDs, and up to 1:100 on indices.

All client accounts are set up with a default leverage rate of 1:100, and depending on account balance, you can choose a ratio between 1:1 and 1:500.

Leverage limits also vary between markets according to local regulation.

Mobile App

GO Markets offer the MetaTrader mobile app for iOS or Android based-smartphones, meaning users can trade 24/7 on the go. MT4 and MT5 allow easy and convenient access to the same features as the desktop platform, including quotes, trades, and charts.

The mobile applications can be downloaded from your device’s Google Play or App Store.

GO Markets mobile app
MT4 App

Payment Methods

Deposits

When we used GO Markets, we found a range of account funding options in multiple base currencies are available:

There are no deposit fees on the part of the broker. All deposit options offer instant processing, apart from bank wire transfer and Checkout.com, which can take up to three days.

Payments to and from international banking institutions may attract intermediary transfer fees and/or conversion fees.

Withdrawals

All withdrawals use the initial funding source, where appropriate. Requests can be submitted via the secure online client portal. They are processed on the same day whenever possible. The payment provider will determine how long it takes for funds to appear in your account. Card and wire transfers can take two to five days on average to process.

Your bank may charge fees for withdrawals, especially on small amounts.

Demo Account

GO Markets offers a comprehensive demo account that allows you to practice trading over 350 CFDs, with real-time spreads, leverage up to 1:500, over 80 technical analysis tools, and 24/5 multilingual client support.

Clients receive $50,000 in virtual funds to practice on MT4 and MT5, either on their portable device or desktop. The paper trading account can be set up easily via an online form on the broker’s website.

Deals & Promotions

GO Markets is running a 30% trading credit cash rebate. This promotion applies to any live trading account with any amount between $500 and $25,000 or the currency equivalent.

For future GO Markets bonuses, refer to their webpage. Their social media channels are also a good way to keep up to date with the latest promotions and sign-up offers.

Regulation & Reputation

GO Markets Pty Ltd is regulated and licensed by:

The broker ensures all user funds are held in separate client trust accounts at top-tier AA-rated Australian banks: National Australia Bank and Commonwealth Bank.

Additional Features

GO Markets offer various supplementary trading and education tools, designed for both beginners and experts alike. These include:

GO Markets trading tools
a-Quant

Live Accounts

GO Markets offers two main account types (Standard and GO Plus+) plus a Professional solution. Both accounts are available in nine different currencies and require a minimum deposit of A$200.

Standard Account

The Standard account is spread-based with no commission. Users have access to spreads of 1.0 pips, a minimum trade size of 0.01 lots, and leverage up to 1:500.

It also has essential features such as 24/5 support, a dedicated account manager, free VPS, expert advisors (EAs), and scalping.

GO Plus+ Account

The GO Plus+ is an ECN-style account and offers all the same features as Standard, but instead includes ultra-low spreads from 0.0 pips. GO Plus+ accounts are subject to a $3.00 commission per side.

Professional Account

A professional account is also available for two categories of traders: sophisticated and high-net-worth investors. However, many retail traders won’t be able to use it because of the eligibility criteria.

The sophisticated investor must meet at least two of the following:

High-net-worth investors must meet only one of the next criteria:

Professional accounts offer lower leverage requirements, high-volume trade rebates, a dedicated support desk, professional reports, and a single use A$100,000 negative balance protection.

Benefits

Our experts found several advantages to opening an account with GO Markets:

Drawbacks

While using GO Markets, we also came across some disadvantages:

Trading Hours

Trading hours for forex are open from 00:00 to 24:00 (GMT+3) Monday through Friday. Stocks and indices are dependent on the exchanges they are listed on, while cryptos are open 24/7.

A holiday schedule can be found at the bottom of the broker’s website.

Customer Support

The multilingual customer support service can be contacted 24/5 via:

Quick Support, at the bottom of the page, is an alternative to the GO Markets live chat logo which was removed. You can download it from the broker’s website, similar to an app, and it is compatible with most operating systems.

The Chinese help desk can be reached at:

Keep up with the latest news on GO Markets’ social media pages:

GO Markets’ headquarters are at Level 11, 447 Collins Street, Melbourne, Australia.

The European office is based at 73 Agias Zonis and Tertaiou Corner, Dena House, 3rd floor, 3090 Limassol, Cyprus.

The company also has a branch in the UK under the name of GO Markets London Limited, situated on Level 6 107 Cheapside, London, England, EC2V 6DN.

Security & Safety

GO Markets complies with data protection laws under the Australian Privacy Act 1988 and the European Union General Data Protection Regulation (GDPR).

MT4 and MT5 use the highest security standards, where data exchange between the client terminal and the platform servers is encrypted. Two-factor authentication can also be applied upon login.

GO Markets Verdict

GO Markets’ investing experience, award-winning support, and trading tools have earned it a solid reputation in the online forex industry. The MT4 and MT5 platforms are ideal for traders of all levels, and the tight spreads and low commission fees make them an attractive option for anyone looking to trade assets efficiently.

Accepted Countries

GO Markets accepts traders from Australia, Thailand, United Kingdom, South Africa, Singapore, Hong Kong, India, France, Germany, Norway, Sweden, Italy, Denmark, United Arab Emirates, Saudi Arabia, Kuwait, Luxembourg, Qatar and most other countries.

Traders can not use GO Markets from Afghanistan, Azerbaijan, Bahamas, Belize, Bosnia And Herzegovina, Burundi, Canada, Central African Republic, Congo, Cote D’Ivoire, Egypt, Eritrea, Ethiopia, Ghana, Guinea-Bissau, Haiti, Iran, Iraq, Israel, Japan, Lebanon, Libya, Myanmar, New Zealand, Nicaragua, Korea, Pakistan, Palestine, Serbia, Sierra Leone, Somalia, Sudan, Sri Lanka, Syria, Trinidad And Tobago, Tunisia, Ukraine, United States, Venezuela, Yemen.

Compare GO Markets

Compare GO Markets with similar brokers that accept traders from your location. Among available brokers these are the most similar to GO Markets:

  1. IG Group – IG-US offer spread betting, CFD and Forex trading across a range of markets. They are FCA regulated, boast a great trading app and have over 47 year track record of excellence.
  2. eToro – eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs. eToro USA LLC does not offer CFDs, only real crypto assets available.
  3. AAAFx – AAAFx offers CFD trading in forex, commodities, indices and cryptocurrencies.
  4. Forex.com – Forex.com boast a global reputation. Regulated in the UK, EU, US and Canada they offer a huge range of markets, not just forex, and offer tight spreads on a cutting edge platform.

GO Markets Comparison Table

Compare GO Markets With Similar Brokers
GO Markets IG Group eToro AAAFx Forex.com
Rating 4.4 4.7 4.5
Markets Forex, Stocks, Commodities, Crypto Forex, Stocks, Commodities, Crypto Forex, Stocks, Commodities, Crypto Forex, Stocks, Commodities, Crypto Forex, Stocks, Commodities, Crypto
Demo Account Yes Yes Yes Yes Yes
Minimum Deposit $200 £250 $10 $10 $100
Minimum Trade 0.01 lots 0.1 lots $10 0.01 lots $1
Regulators ASIC, CySEC, FSC of Mauritius FCA, ASIC, MAS, FSCA, JFSA, FMA, CFTC, NFA, BMA, DFSA, FINMA, BaFin FCA, CySEC, ASIC, FSA HCMC (Greece), FSCA (South Africa) CySEC, IIROC, NFA, CFTC, FCA, CIMA
Bonus 30% cash rebate 100% Deposit Bonus available for Global clients No
Education No Yes Yes No Yes
Platforms MT4, MT5 MT4 MT4, MT5 MT4
Leverage 1:500 1:30 1:30 EU 1:30 EU, 1:500 Global 1:200
Payment Methods 7 6 14 8 8
Detailed Comparison GO Markets vs IG Group GO Markets vs eToro GO Markets vs AAAFx GO Markets vs Forex.com
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Compare Trading Instruments

Compare GO Markets Trading Instruments
GO Markets IG Group eToro AAAFx Forex.com
CFD Yes Yes Yes Yes Yes
Forex Yes Yes Yes Yes Yes
Stocks Yes Yes Yes Yes Yes
Commodities Yes Yes Yes Yes Yes
Oil Yes Yes Yes No Yes
Gold Yes Yes Yes Yes Yes
Copper No Yes Yes No No
Silver Yes Yes Yes No Yes
Corn No No Yes No No
Crypto Yes Yes Yes Yes Yes
Futures Yes Yes No No Yes
Options No Yes No No Yes
ETFs Yes Yes Yes No No
Bonds No Yes No No No
Warrants No No No No No
Spreadbetting No Yes No No No
Volatility Index No Yes Yes No No

GO Markets vs Other Brokers

Compare GO Markets with any other broker by selecting the other broker below.

GO Markets vs

The most popular GO Markets comparisons:

  1. GO Markets vs Eightcap
  2. GO Markets vs eToro
  3. GO Markets vs Plus500
  4. BDSwiss vs GO Markets

FAQ

Does GO Markets Offer A No Deposit Bonus?

No – GO Markets doesn’t provide this type of bonus. All current promotions require capital and a live trading account. Cash rebates are available to active traders.

Is There A GO Markets Office In The United Kingdom?

Yes, GO Markets UK Trading Limited is based at Level 6 107 Cheapside, London, England, EC2V 6DN.

Does GO Markets Have PAMM Accounts?

PAMM (percent allocation management module) accounts are not currently available at GO Markets. Instead, the broker offers two live trading accounts with different pricing structures.

What Is Myfxbook At GO Markets?

Myfxbook is a free, automated online trading tool that enables traders to evaluate and compare their trading strategies and performance. The tool links directly to your GO Markets trading account. Copy trading is also available via the solution.

Is GO Markets A Good Broker?

GO Markets is a reputable, regulated broker offering a secure platform to trade a range of assets and markets. For traders looking to trade on the MT4 or MT5 platforms, it offers competitive spreads and flexible account options and could be worth considering.

How Much Capital Do I Need To Trade With GO Markets?

The starting deposit is A$200 on both the Standard account and the GO Plus+ account.

What Account Base Currencies Are Available On GO Markets?

You can hold funds in one of the following base currencies: AUD, USD, GBP, EUR, NZD, SGD, CHF, CAD, and HKD.

Does GO Markets Offer A Demo Account?

You can open a demo account by filling out a straightforward form on the broker’s website. The demo account will give you access to $50,000 in virtual funds to practice trading.

How Quickly Are GO Markets Withdrawals Processed?

GO Markets aims to process all withdrawal requests received before 1 pm AEST on the same day while any received after 1 pm AEST will be processed the following day. In general, local transfers take 1-2 business days and international transfers take 3-5 days for funds to clear.

What Is The Difference Between The Standard & Advanced GO Markets Accounts?

Clients will enjoy tighter spreads with the GO Plus+ account, however, there will be a commission for every trade placed. The commission is $3.00 per side on a standard lot.

GO Markets is an ASIC-regulated FX & CFD broker with leveraged trading opportunities and spreads from 0.0 pips.