Compare Forex Brokers side by side

How do FP 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.

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 FP 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 FP 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 FP Markets holds two Tier 1 and no Tier 2 licences, and Go Markets holds two Tier 1 and one Tier 2 licences.

 

Is FP Markets financially regulated?

Yes FP Markets was founded in 2005 and is regulated by ASIC, CMA, CySEC, FSCA 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, FP Markets earned a higher trust rating than Go Markets.

Does FP 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 FP Markets. 

 

Does FP 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, FP 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 FP Markets and Go Markets offer copy trading.

 

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 FP Markets offers a greater range and depth of instruments to trade than Go Markets. FP Markets offers 70 Forex pairs to trade and Go Markets offers 49 Forex pairs to trade.

And what about Cryptocurrencies?

In this case, FP Markets offers 11 cryptocurrencies while Go Markets offers 10 cryptocurrencies. So if you want to trade cryptocurrencies, we advise trading with FP Markets.

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 FP Markets charges a withdrawal fee and Go Markets does not. Overall, FP 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. 

FP Markets and Go Markets both have moderate educational support. Both FP Markets and Go Markets offer educational support for more experienced traders.

 

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 FP Markets offers better research analysis than Go Markets and that both FP Markets and Go Markets offer frequent webinars.

 

Our overall Verdict on FP Markets

FP Markets is an ASIC-regulated Forex broker with an excellent stock trading platform designed for more experienced stock pickers. We were also impressed with how easy the FP Markets Trading App was to use and the quality of FP Markets' customer service.

In terms of fees, FP Markets has an “ECN pricing” model which it claims provides “extremely competitive” costs. Unfortunately, we found that the fees on its MT4 and MT5 trading accounts were higher than most of its ECN competitors. But FP Markets does make it easy for beginners to get started, with 100 AUD minimum deposits and unlimited demo accounts.

We are also impressed that in addition to MT4 and MT5, cTrader is also available. FP Markets is now one of a handful of brokers that has such a good platform offering. 

FP Markets also stands out for its support for active and professional stock traders. FP Markets is one of few brokers offering the IRESS suite of trading platforms. These Direct Market Access platforms provide access to 10,000+ international stocks but the basic IRESS account requires a minimum deposit of 1000 AUD and commissions are charged on most trades.

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?

FP Markets has an overall rating of 4.40 and Go Markets has an overall rating of 2.0. For more detail please read our reviews of FP Markets and Go Markets.