GoStreams Review 2021

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GoStreams Facts & Figures

GoStreams is an unregulated forex, cryptocurrency and CFD broker with MT4 support, negative balance protection and social trading functionality.

InstrumentsCFD, Forex, Crypto, Stocks
Demo AccountYes
Min. Deposit$100
Payment MethodsCredit Card, Mastercard, Visa, Wire Transfer
Min. Trade0.01
Regulated ByUnregulated
MetaTrader 4Yes
MetaTrader 5No
cTraderNo
STP AccountYes
ECN AccountYes
DMA AccountNo
Mobile AppsiOS & Android
Margin TradingYes
Auto TradingNo
Social TradingYes
Copy TradingYes
Trade SignalsYes
Islamic AccountNo
Account
Currencies
USD, EUR, GBP
CFD
FTSE Spread0.3
GBPUSD Spread0.3
Oil Spread0.3
Stocks Spread0.3
Leverage1:500
Forex

GoStreams offers trading with CFDs on over 58 major, minor and exotic currency pairs on MetaTrader 4 accounts.

GBPUSD Spread0.3
EURUSD Spread0.3
EURGBP Spread0.3
Assets58
Cryptocurrency

GoStreams supports crypto CFD trading on four major digital tokens, including Bitcoin and Ethereum, with leverage trading options.

SpreadVariable
CoinsBTC, ETH, LTC, XRP
Risk Warning – Your capital is at risk

GoStreams.io (otherwise known as Streams) is a global offshore broker based in St Vincent and the Grenadines. Devoted to creating an exceptional trading environment for their clients, GoStreams offers over 120 trading instruments via the renowned MetaTrader 4 platform. Our GoStreams.io review details the mobile platforms, tools, payment methods and markets, also comparing trading costs, spreads and leverage rates. Find out if you should sign up with GoStreams.io today.

GoStreams Headlines

GoStreams.io, or Streams, is a global brokerage owned and operated by Streams Global Markets LLC. The company is an investment firm registered in St. Vincent and the Grenadines, which is an area that is popular with offshore financial businesses looking to operate outside strict legislation. The company has been licensed and registered since 2019 under company number ‘219 LLC 2019’. However, the broker is not officially regulated by any major financial regulatory body.

GoStreams.io prides itself on being a broker with a personality, claiming that they are committed to providing a secure and reliable trading environment that is supported by a customer-centric team of experts. GoStreams.io does not offer its services to residents from the USA, OFAC and FATF sanctioned countries.GoStreams 2021 Review

MetaTrader 4 Platform

GoStreams.io only offers one trading platform – MetaTrader4. MT4 is a top-rated forex trading platform used by millions worldwide and is the most widely downloaded platform in the industry. There are several features that users can take advantage of to customise their interface and optimise their trading experience. The following are some of the key benefits of MT4:

Users can take advantage of GoStreams.io’s MT4 platform on macOS, Windows, Android (APK) and iPhone (iOS) with a simple, quick download process from the broker’s website or the relevant application store.

Assets

GoStreams clients have access to over 120 trading instruments on global markets, all from one account. The following is a breakdown of these markets:

Spreads And Commissions

GoStreams.io offers floating spreads on all account types, Classic, Pro and ECN. However, spreads and fees are variable, depending on the account. Market spreads can also widen considerably at market opening and closing times and before major announcements.

Comparatively, spreads and commissions on GoStreams are reasonably competitive.

Leverage

GoStreams.io traders also have the option of trading with leverage of up to 1:500 on all account types. As an unregulated broker, Streams is not restricted to offering capped leverage rates to its users. While this provides the opportunity to increase profits, leverage can also amplify and accelerate losses. Therefore, users must take caution when trading on leverage.

Fortunately, GoStreams.io offers negative balance protection to ensure clients cannot lose more money than their initial deposit. Additionally, all trading accounts have a stop-out level of 25% and the margin call is set at 100%.

Mobile Apps

Streams do not offer a proprietary mobile app for their trading platform. However, MetaTrader 4 offers a mobile app for both Android and iPhone operating systems, which is free to download on the Apple App Store or Google Play Store.

The MT4 mobile app provides an alternative solution to trading on a PC or desktop, meaning handy on-the-go analysis and order management is available. The mobile platform has received thousands of positive customer reviews.

Payment Methods

GoStreams.io offers a quick and secure process for deposits and withdrawals with varying processing times. These are all available in the broker’s client area:

Deposits

Withdrawals

The minimum deposit also varies depending on the account. The Classic account requires USD/EUR 100, the Pro account requires USD/EUR 1,000 and the ECN account requires USD/EUR 10,000.

All deposit and withdrawal transactions are said to be commission-free. However, the official GoStreams website has expressed that the broker reserves the right to charge the client a 4% withdrawal fee at their discretion. The conditions in which this fee is applied is not made clear.

Demo Account

GoStreams offers a free demo account, which members can apply for in the client area by filling in their personal details and email address. Then, you can access a simulated account with a virtual balance with which you can trial out the MT4 platform and practise your strategies risk-free. Additionally, GoStreams.io offers the ability to modify the demo account balance by sending an email to the broker with your demo account number and desired balance.

If you wish to have both a demo and live account functioning simultaneously, Streams allows you to install the MT4 platform in two separate folders on your computer, so you can run the platform from your original and alternative account.

Promotions

GoStreams.io offers a ‘refer a friend’ promotion code on their site where users can earn up to a 20% bonus on their trading program. To get involved in the referral plan, clients simply have to share a unique referral code link that you can find on their official website. The bonus received by the client depends on the initial deposit placed by their referral.

Unregulated brokers are less restricted from offering promotion codes or gift codes or bonuses, which are usually heavily regulated by official bodies. Streams also runs regular trading competitions where users have a chance to earn cash, such as its 2021 competition for the top 3 best performing traders. The broker has also previously offered a welcome bonus. However, ensure to read the bonus terms & conditions before accepting such offers.

Regulation

GoStreams.io is an offshore broker operated by Streams Global Markets LLC and is registered in St Vincent and the Grenadines under company number 219 LLC 2019. However, the broker does not officially hold any license to provide financial services, neither are they regulated by any financial authoritative body.

This means that your money and interests aren’t as protected as they might be with a regulated broker. If you lose your money, the broker is not obligated to providing compensation. For example, FCA regulated brokers protect clients with up to £85,000 in compensation, should the broker go bankrupt. An official license also regulates the broker’s trading conditions to create fewer risks, such as lower leverage and segregated bank accounts.

Additional Features

GoStreams.io provides several free tool packages that can act as an extension to your trading toolbox:

Account Types

GoStreams.io offers three account packages:

All account packages have the same execution speed, 1:500 maximum leverage and negative balance protection. The main differences are in the spreads, commissions and minimum deposit requirements. Additionally, GoStreams allow members to open up two or more new trading accounts, which can be done from the client area.

In order to open an account at GoStreams.io, users must click on ‘Register Now’ and sign up with their personal details and email address. With those credentials, users then can log in to the client area, where they must upload documents for verification. These documents include proof of identity and proof of address.

GoStreams Trading In Vietnam And Beyond
GoStreams MT4 WebTrader

Benefits

Drawbacks

Trading Hours

Trading instruments on GoStreams’ MT4 accounts adhere to standard trading hours and each asset has different trading times. For example, the forex and commodities markets are open 24/5 from Monday to Friday, while cryptocurrencies are available to trade 24/7. Unfortunately, the Streams official website does not offer a comprehensive list of trading hours, though these can be found on the MT4 platform.

Customer Support

If the GoStreams.io MT4 platform is not working or you encounter any other issues, you should contact the broker’s customer service team:

Security

MT4 is a secure platform that encrypts its users’ login credentials. Additionally, GoStreams offers negative balance protection to stop clients from losing more than their initial deposit. This is important as trading on high leverage can amplify losses beyond the user’s account balance.

However, Streams is not a regulated broker. This means that the user is not protected from any illegal activities and, if the broker goes out of business, the client’s funds are not compensated. Essentially, GoStreams can perform business activities how they please, even if they are not in the interest of the user. To add, the broker does not outline whether funds are kept in segregated bank accounts.

GoStreams Verdict

GoStreams.io, or Streams, is an offshore broker that offers over 120 trading instruments on the industry-leading MT4 platform. Although unregulated, the broker also offers three account types with negative balance protection and reasonable spreads and commissions. Nonetheless, the lack of accreditation from a reputable body leads us to recommend regulated alternatives.

FAQs

Is GoStreams.io Reputable?

GoStreams.io is not regulated by a reputable financial body. This means that there is an inherent level of risk for any user who signs up with the broker because unregulated brokers are not obliged to implement protective measures or adhere to legislative rules that are designed to protect retail investors. Nonetheless, the broker offers negative balance protection and a secure MT4 platform, both of which are good signs.

Does GoStreams.io Offer A Demo Account?

Yes. Streams offer a free demo account, which can be accessed through the client area. Users can also modify their account balance and open one simultaneously to a live trading account.

How Much Capital Do I Need To Trade At GoStreams.io?

The lowest minimum deposit requirement on Streams is with its basic plan – the Classic account. This account requires a USD/EUR 100 deposit to start trading. The premium Pro account requires a USD/EUR 1,000 deposit, while the ECN account requires a USD/EUR 10,000 deposit.

Does GoStreams.io Offer Referral Codes?

Yes. Users with a live trading account can gain up to 20% in bonus credit from Streams’ refer a friend program. All they must do is share a unique referral code link found on the website. Depending on how much their friend deposits into their new account, traders can earn 10%, 15% or 20% in bonuses, straight to their trading account.

Where Is GoStreams.io located?

GoStreams is operated by Streams Global Markets LLC, which is located and registered on the 1st floor, First St Vincent Bank Ltd Building, James Street, Kingstown, St Vincent and the Grenadines.

Accepted Countries

GoStreams accepts traders from Australia, Thailand, Canada, United States, 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.

Alternatives to GoStreams

If you are looking for alternatives to GoStreams we have compiled a list of the top 5 brokers that are similar to GoStreams below. This list of brokers like GoStreams is in order of similarity and only includes companies that accept traders from your location.

  1. eToro – eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs.
  2. 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 very tight spreads and a cutting edge platform.
  3. LQDFX – LQDFX offers online trading with multiple STP accounts and MT4 analysis tools.
  4. Paxful – Paxful is a crypto trading exchange and digital wallet offering low fees and easy sign-up.
  5. Exinity – Exinity provides flexible low-cost trading in FX, commodities, indices and equities alongside unique education and support provided by teams located across the world. Now operating in the Middle East, through regulation from the Financial Services Regulatory Authority in Abu Dhabi and the Financial Services Commission of Mauritius, Exinity provides a range of services to traders and investors looking for new opportunities in the financial markets.
GoStreams is an unregulated forex, cryptocurrency and CFD broker with MT4 support, negative balance protection and social trading functionality.

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