BlackBull Markets vs Go Markets - 2024 Comparison | FxScouts
AuthorAuthor: Björn MichelsUpdated: October 12, 2023

Last Updated On October 12, 2023

Björn Michels

Trading with a reputable online broker is a crucial factor for success in the international markets. At FxScouts, we help you find the broker that suits your trading needs.

Each year we spend thousands of hours testing brokers by opening accounts, testing their platforms, and rating them according to a set of over 200 metrics. We deposit real money with the brokers to ensure that the products and user experience they advertise are consistent with reality.

We have found that the best way for traders to choose a broker is to compare brokers side-by-side. The comparison tool below allows you to compare two brokers based on their ratings and features.

Select brokers to compare

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Broker Score
Risk Statement
Min. Deposit
Regulation
Trading Desk Type
Trading Instruments
Forex Pairs
Crypto Pairs
Pros
Cons
Regulation
Trading Conditions
Trading Platforms
Deposit & Withdrawal
Education & Research
Assets Available
Customer Service
% Lose with this broker
Leverage
Spread
Hedging
Scalping
Account Types
Islamic Account
Trading Platforms
Funding Methods
Trading Commission
11110.54.28/ 5 N/A of retail CFD accounts lose moneyUSD 0The Best FMA-Regulated Forex BrokersThe Seychelles Financial Services AuthorityECN/DMACommodities, Cryptocurrencies, Energies, Forex, Indices, Metals, Stock CFDs7010
  • Tight spreads
  • Good for beginners
  • Wide range of assets
  • Excellent customer support
  • Expensive withdrawals
  • High minimum deposits
Read Review 1110.503.5/ 5 11110.54.5/ 5 11110.54.5/ 5 11110.54.5/ 5 111115/ 5 11110.54.5/ 5 111104/ 5 0500:10.10 pips Institutional, Prime, Standard MT4, MT5, WebTraderBank Transfer, Visa, Mastercard, Skrill, Neteller, Fasapay, Unionpay6 USD / lot - ECN Prime
110.5002.0/ 5 62% of retail CFD accounts lose moneyAUD 200ASIC Regulated Forex BrokersCySEC Regulated BrokersFinancial Services AgencyFinancial Services CommissionMarket Maker NDD, ECN/DMACommodities, Cryptocurrencies, Stock CFDs, Forex, Indices, Metals, Bonds, Shares4910
  • Fast and free withdrawals
  • Wide range of assets
  • Excellent market analysis
  • Innovative trading tools
  • High minimum deposit
  • No swap-free account option
Read Review 110.5002.0/ 5 11110.54.5/ 5 110.5002.0/ 5 110.5002.0/ 5 110.5002.0/ 5 110.5002.0/ 5 110.5002.0/ 5 62%30:10 pips GoPlus+, Standard MT4, MT5Bank Transfer, Visa, Mastercard, Skrill, Neteller, Fasapay, BPay, POLi4 USD / lot

How do BlackBull Markets and Go Markets stack up against each other?

The Radar Chart below highlights how the brokers stack up against each other across various metrics. The highest score a broker can receive in each area is 5.

BlackBull Markets

Go Markets

At FxScouts, we help traders find the broker that suits their trading needs. In many cases, the best way to achieve this is to compare brokers side-by-side.

To compare BlackBull Markets and Go Markets, we used the same factors we use when reviewing brokers: The trust and regulation of the broker, the trading platform, the costs and trading conditions, and the level of education and market analysis available at the broker.

Does BlackBull Markets or Go Markets have a better trust and regulation rating?

Trust and regulation are some of the most important factors to consider when choosing a Forex broker. Trust in the Forex trading business is almost entirely founded upon regulation. We spend many hours evaluating the safety of each broker by delving into their fine print and confirming each one of their regulatory licences on the online registers. The more top-tier authorities a broker is regulated by, the higher its trust rating.

In our comparison, we found that BlackBull Markets holds no Tier 1 and one Tier 2 licences, and Go Markets holds two Tier 1 and one Tier 2 licences.

 

Is BlackBull Markets financially regulated?

Yes BlackBull Markets was founded in 2014 and is regulated by FMA and FSA-Seychelles.

 

Is Go Markets financially regulated?

Yes Go Markets was founded in 2006 and is regulated by ASIC, CySEC, FSA-Japan and FSC.

 

Based on these findings, BlackBull Markets earned a higher trust rating than Go Markets.

Does BlackBull Markets or Go Markets have lower costs?

Another important aspect we consider when comparing brokers is the cost of trading. When evaluating trading costs, we always consider the minimum deposit required to open an account and the ongoing trading costs, including the spreads and commissions. When calculating trading costs, we measure the cost to trade one lot of EUR/USD using the broker’s account with the lowest minimum deposit. The cost includes both the spread and any commission charged. 

Not all brokers publish their trading costs, so we often open accounts and trade on their platforms to verify the spreads and commissions. Based on our reviews, we found that Go Markets has overall lower trading costs than BlackBull Markets. 

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Broker
Trading Conditions
Base Currencies
EURUSD (Standard)
Commission
Trading Cost (Standard)
EURUSD (Best)
GBPUSD (Best)
USDJPY (Best)
BlackBull Markets
11110.54.5/ 5
USD, EUR, JPY, GBP, CHF, CAD, AUD, NZD, SGD, HKD
0.80 pips
USD 0
USD 8
0.18 pips
0.66 pips
0.44 pips
Go Markets
11110.54.5/ 5
AUD, USD, GBP, EUR, NZD, SGD, CAD, CHF, HKD, PLN
0.00 pips
USD 4
USD 4
0.00 pips
0.00 pips
0.00 pips

 

Does BlackBull Markets or Go Markets offer a better choice of trading platforms?

Traders want Forex brokers to offer them a choice of trading platforms, so we give brokers who offer multiple platforms higher ratings. Trading platforms we consider include MetaTrader4, MetaTrader5, cTrader and proprietary mobile and web-based platforms. 

In this case, BlackBull Markets offers support for and Go Markets offers support for . 

Do the brokers offer copy trading?

Copy trading is a great option for beginner traders who can’t trade full-time or lack experience with Forex trading. In this case both BlackBull Markets and Go Markets offer copy trading.

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Broker
Platform Choice
Copy Trading
Platforms
BlackBull Markets
11110.54.5/ 5
WebTrader
Go Markets
110.5002.0/ 5

 

Which broker offers a better choice of trading instruments?

A variety of CFD instruments – and a large range of CFDs for each instrument category allow traders more opportunities for profitable trading. The best brokers will have thousands of CFDs to trade, covering all these instrument categories. We found that BlackBull Markets offers a greater range and depth of instruments to trade than Go Markets. BlackBull Markets offers 70 Forex pairs to trade and Go Markets offers 49 Forex pairs to trade.

Toplist Forex Pairs

And what about Cryptocurrencies?

In this case, 0 offers 10 cryptocurrencies while 0 offers 10 cryptocurrencies. So if you want to trade cryptocurrencies, we advise trading with 0.

Which broker offers better deposit and withdrawal processes?

Although brokers may have reasonable trading fees, many traders are caught out by the high non-trading fees charged by some brokers, including deposits and withdrawals. Traders want to be able to deposit and withdraw funds quickly and cheaply. Most brokers have multiple funding methods with zero fees for making deposits, but some brokers make it more expensive and take longer to process withdrawals. 

We rate brokers more highly that process withdrawals within 24 hours by multiple withdrawal methods and without charging processing fees. We found that BlackBull Markets charges a withdrawal fee and Go Markets does not. Overall, BlackBull Markets has better deposit and withdrawal processes than Go Markets. 

Which broker offers better educational support?

We often find that brokers offer very little in the way of educational materials, forcing traders to use other third-party sites or self-educate elsewhere. Beginner traders need well-structured, well-presented materials in multiple formats to get a good start at trading. More experienced traders also benefit from webinars led by experts in the field and advanced trading strategy sections with new trading ideas. 

BlackBull Markets has better educational support than Go Markets. Both BlackBull Markets and Go Markets offer educational support for more experienced traders.

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Broker
Beginner Course
Advanced Course
Well Structured Education
Education Quality
Webinars
BlackBull Markets
High
Go Markets
Medium

 

Which broker offers better market analysis materials?

To successfully predict the price movements of an instrument, traders will need access to frequent market research and analysis. We find that research and market analysis are always better when they are produced in-house and updated frequently. Third-party resources don’t show the same expertise in trading ideas, so we place a strong emphasis on frequent in-house updates. Some brokers also often offer interactive webinars where traders can learn from experts in the field. 

We found that BlackBull Markets offers better research analysis than Go Markets and that both BlackBull Markets and Go Markets offer frequent webinars.

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Broker
Economic Calendar
Autochartist
Trading Central
Trading View
Free VPS
BlackBull Markets
Go Markets

 

Our overall Verdict on BlackBull Markets

Founded in New Zealand in 2014, BlackBull Markets is an FMA (New Zealand) and Seychelles FSA-regulated ECN broker that offers trading on a substantial number of assets, including Forex, commodities, cryptos, over 26,000 shares, and indices.  

BlackBull Markets offers a range of accounts for beginners and more experienced traders, and trading costs are lower than those of other brokers on its entry level commission-free account, with spreads that start at 0.8 pips on the EUR/USD with no minimum deposit requirement. Trading costs are even lower on its Prime and Institutional Accounts, with spreads down to 0.1 pips (EUR/USD), but this is in addition to a commission and high minimum deposit requirements of 2,000 USD and 20,000 USD respectively.   

BlackBull Markets provides direct market access on MT4, MT5, TradingView, and its own brand-new, user-friendly inhouse trading platform, BlackBull Trade. It also offers a number of useful trading tools, including Autochartist, a VPS service, FIX API, and copy trading through third-party providers Zulutrade and Myfxbook Autotrade, as well as its proprietary platform, Blackbull CopyTrader.

Finally, BlackBull Markets’ educational and market analysis materials are good compared to most other brokers, and it offers personalised customer service, available 24/7.

Our overall Verdict on Go Markets

We are aware of multiple complaints about problems withdrawing profits from GO Markets. We advise traders to find another approved broker until we have verified these claims.

A well-regulated Australian broker, GO Markets offers two low-cost trading accounts, a huge range of financial instruments, and excellent trading tools on the MT4 and MT5 platforms. 

GO markets traders can choose between two accounts, both with competitive trading costs. The commission-free Standard Account has spreads that start at 1.0 pips (EUR/USD), while the GO Plus+ Account offers spreads of 0 pips in exchange for a commission of 6 AUD/4 USD (round turn). Both accounts have a reasonable minimum deposit of 200 AUD, making them accessible to beginner traders. Traders can choose from over 3600 financial instruments, including 49 Forex pairs and all 2400+ shares listed in the ASX.

Offering full support for MT4, MT5, and its in-house share trading platform, GO Markets provides an extensive suite of trading tools, including a free VPS service, Autochartist, Trading Central, and myfxbook.  Traders will also benefit from responsive and knowledgeable multilingual customer service and a great selection of education and market analysis materials.   

Overall, a technological innovator, GO Markets works hard to keep low-latency trading, plenty of choice, reliable customer support, and stable platforms at the core of its offering.

Which broker has the highest overall rating?

BlackBull Markets has an overall rating of 4.28 and Go Markets has an overall rating of 2.0. For more detail please read our reviews of BlackBull Markets and Go Markets.

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