GoStreams Review 2022
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.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.
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:
- MQL4 algorithmic trading programming language
- User-friendly interface that is suited to beginners
- 3 order execution types
- 30 technical indicators
- Market watch
- 9 timeframes
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.
GoStreams clients have access to over 120 trading instruments on global markets, all from one account. The following is a breakdown of these markets:
- Forex: 58+ major and minor currency pairs, inc. EUR/USD & GBP/USD
- Commodities: 10 metals & commodities, inc. silver, gold & oil
- Shares: 60+ global companies, inc. Barclays, Shell & Netflix
- Indices: 14 global indices, inc. S&P 500 & FTSE 100
- Cryptocurrencies: Inc. Bitcoin & Ethereum
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.
- Classic Account: From 1.6 pips with zero commissions
- Pro Account: From 1.1 pips with zero commissions
- ECN Account: From 0.3 pips with USD 4 per side
Comparatively, spreads and commissions on GoStreams are reasonably competitive.
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%.
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.
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:
- Credit cards & debit cards, inc. Visa/Mastercard/Maestro cards (within 24 hours for EUR, USD & GBP)
- E-wallets (within 24 hours for EUR & USD only)
- Bank wire transfer (within 3-5 business days for EUR, USD & GBP)
- Credit/Debit Card, inc. Visa/Mastercard/Maestro cards (within 3-5 business days for EUR, USD & GBP)
- E-wallets (within 48 hours for EUR & USD only)
- Bank transfer (within 7-10 business days for EUR, USD & GBP)
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.
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.
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 2022 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.
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.
GoStreams.io provides several free tool packages that can act as an extension to your trading toolbox:
- Social Trading: Members can copy strategies from expert traders with GoStreams’ advanced social trade copying software. Users can access detailed trading performance statistics through informative charts and tables and choose from a variety of copying modes.
- Economic Calendar: GoStreams.io’s economic calendar is powered by TradingView, which allows you to follow market fundamentals and economic data that can affect the markets.
- Trading Signals: Access free trading signals from top traders on Streams. Members are automatically added to Telegram, where signals are sent out and no deposit is required.
- Calculators: The broker’s online calculators provide indicative quotes and trading calculations at indicative rates. Users can calculate the value of a pip, margin requirements and more. A forex heatmap and screener is also available.
- Videos: Anyone can access GoStreams’ live Facebook and Youtube accounts, with information on the markets and strategy tips. However, these are not frequently updated.
GoStreams.io offers three account packages:
- Classic: A basic STP account plan with a minimum deposit of USD/EUR 100.
- Pro: A premium STP account with a higher minimum deposit of USD/EUR 1,000.
- ECN: The broker’s only ECN account type with a minimum deposit of USD/EUR 10,000.
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.
- Negative balance protection
- 1:500 leverage on all assets
- Social trading features
- Referral promotions
- Free trading signals
- 120+ instruments
- MT4 platform
- Offshore broker
- Does not accept US residents
- Limited educational resources
- Vague withdrawal fee requirements
- Funds not held in segregated accounts
- Lack of information around cryptocurrencies on the website
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.
If the GoStreams.io MT4 platform is not working or you encounter any other issues, you should contact the broker’s customer service team:
- Telephone: +357 25010487
- Email: firstname.lastname@example.org
- Live Chat: Available on the bottom right of the website. Working hours are from 09:00 to 18:00 GMT + 2
- Address: 1st floor, First St Vincent Bank Ltd Building, James Street, Kingstown, St Vincent and the Grenadines
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.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.
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.
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.
Compare GoStreams with similar brokers that accept traders from your location. Among available brokers these are the most similar to GoStreams:
- 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.
- LQDFX – LQDFX offers online trading with multiple STP accounts and MT4 analysis tools.
- AAAFx – AAAFx offers CFD trading in forex, commodities, indices and cryptocurrencies.
- 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.
GoStreams Comparison Table
|Markets||Forex, Stocks, Crypto||Forex, Stocks, Commodities, Crypto||Forex, Stocks, Commodities, Crypto||Forex, Stocks, Commodities, Crypto||Forex, Stocks, Commodities, Crypto|
|Minimum Trade||0.01||$10||0.01 lots||0.01 lots||$1|
|Regulators||–||FCA, CySEC, ASIC, FSA||–||HCMC (Greece), FSCA (South Africa)||CySEC, IIROC, NFA, CFTC, FCA, CIMA|
|Bonus||–||–||100% deposit bonus up to $20,000||100% Deposit Bonus available for Global clients||No|
|Leverage||1:500||1:30 EU||1:100 – 1:500||1:30 EU, 1:500 Global||1:200|
|Detailed Comparison||–||GoStreams vs eToro||GoStreams vs LQDFX||GoStreams vs AAAFx||GoStreams vs Forex.com|
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GoStreams vs Other Brokers
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|GoStreams is an unregulated forex, cryptocurrency and CFD broker with MT4 support, negative balance protection and social trading functionality.|