Go Markets Review

Author By Jeffrey Cammack
Updated: May 13, 2021
Overall Rating
4.10 4.10 / 5
Rated #26 of 57 Recommended Brokers
Min. Deposit
AUD 200
Regulators
Trading Desk
Trading Cost
USD 10
Website Language
English, Indonesian, Arabic, Thai, Portuguese
Support Language
English, Malay, Portuguese, Indonesian, Arabic, Thai, Chinese, Vietnamese
AlertAccepts Australian Clients. Average spread EUR/USD 1 pips on trading account with lowest minimum deposit. Max leverage 500:1. Islamic account available. MT4 & MT5 platforms supported. Go Markets is regulated by ASIC.

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Summary

GO Markets is a well-regulated market maker with ECN options known for its innovative yet simple approach to Forex trading. Offering trading on multiple assets, including Forex, share CFDs, indices, metals, and commodities, traders can choose between two live account options. Trading conditions are competitive, with spreads averaging at 0.2 pips (EUR/USD) on its GO Plus Account, and 1 pips (EUR/USD) on its Standard Account.  However, minimum deposits are higher than other similar brokers at 200 AUD.   

Offering full support for MT4 and MT5, GO Markets provides an extensive suite of trading tools, including a free VPS service, Autochartist, Trading Central, and myfxbook.  Traders will also benefit from the responsive and knowledgeable multilingual customer service.  Furthermore, although much of the education section is paywalled for customers only, the content is excellent.   Overall, a technological innovator, GO Markets works hard to keep low-latency trading, reliable customer service and stable platforms at the core of their offering.

Reviews

Regulation
111104/ 5
Trading Conditions
111104/ 5
Trading Platforms
11110.54.5/ 5
Deposit & Withdrawal
111115/ 5
Education & Research
11110.54.5/ 5
Assets Available
1110.503.5/ 5
Customer Service
1110.503.5/ 5
Beginner Friendly
Standard
Bonuses
$100 Refer A Friend Bonus

Account Information

Base Currencies
AUD, USD, GBP, EUR, NZD, SGD, CHF, CAD, HKD
Number of FX Pairs
50+
Copy Trading
Hedging Allowed
Scalping Allowed
Islamic Account

Trading Conditions

Min. Spread
0.20 pips
Commission
6 USD / lot - GoPlus+
EUR/USD
0.2 pips
GBP/USD
0.5 pips
USD/JPY
0.2 pips
Max. Leverage
500:1

Company Details

Company Name
GO Markets Pty Ltd
Founded
2006
Office Locations
Australia, Hong Kong, United Kingdom, Taipei

Pros

  • Fast and free withdrawals
  • Wide range of assets
  • Excellent market analysis
  • Innovative trading tools

Cons

  • High minimum deposit
  • No swap-free account option
GoMarkets Main Features

Is GO Markets Safe?

Founded in 2006  and headquartered in Melbourne, GO Markets is regulated by the Australian Securities and Investments Commission (ASIC),  the Cyprus Securities and Exchange Commission (CySEC), the Seychelles Financial Services Authority (FSA), and the Financial Services Commission (FSC) of Mauritius. 

  • GO Markets Pty Ltd is authorised and regulated by ASIC, licence: 254963.
  • GO Markets Pty Ltd (MU) is a Global Business Company (Company No.170969), authorised and regulated by the Financial Services Commission (FSC) of Mauritius as an Investment Dealer (Discount Broker) Licence No.GB 19024896.
  • GO Markets is authorised and regulated by CySEC, Licence Number: 322/17
  • GO Markets is authorized and regulated by the Seychelles Financial Services Authority, Securities Dealer Licence Number SD043.

Australian traders will be trading under the subsidiary, GO Markets Pty Ltd, regulated by ASIC, and as such, all client funds are held in separate trust accounts.  Traders are not afforded automatic negative balance protection, but balances can be set back to zero by request should clients lose more than is in their trading account. 

GO Markets has won numerous awards, including Best Customer Service 2019-2020 (Investment Trends), and Best Educational Materials/Programs 2019 – 2020 (Investment Trends).

With offices in Melbourne, London, Taipei, Hong Kong, and customers in over 150 countries, GO Markets is a safe and established global broker.

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Group Regulators
Trading Desk
Website
Year Founded
Office Locations
Inactivity Fee
ASIC
CySEC
Fi
Market Maker NDD
ECN/DMA
2006
Australia, Hong Kong, United Kingdom, Taipei

Investment Offering

GO Markets offers a variety of different CFDs to trade including Forex. 

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Fx Pairs
CFD Investments
50+
Cryptocurrencies
Forex
Indicies
Metals
Equities
WTIs

Trading Conditions

A market maker with ECN account options, GO Markets, offers trading on over 350 instruments, including Forex, shares, indices, metals, and commodities.  It offers two live accounts with minimum deposits of 200 AUD.  Minimum trade sizes are 0.01 lots, leverage is up to 30:1, and commissions are only charged on the GO Plus account.  Variable spreads start at 0.0 pips, and full support is offered for the MT4 and MT5 platforms in addition to an extensive range of trading tools. Lastly, GO Markets allows hedging and scalping, but not copy trading. 

Account Types

GO Markets offers two separate live accounts in addition to the demo account.  The accounts can be funded in 9 different currencies (USD, AUD, CAD, CHF, EUR, GBP, HKD, NZD, and SGD). 

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Display Name
Min. Deposit
Max. Leverage
Min. Spread
Commission
GoPlus+
USD 500
500:1
0.0
$3.00
Account Details
Standard
USD 200
500:1
1
None
Account Details

Both live accounts offer: 

  • A dedicated account manager
  • A free VPS service (with 1 million USD trading volume pcm otherwise 30 AUD pcm)
  • Expert advisors

Standard Account

The Standard Account is the dealing desk, commission-free account option, created with the beginner in mind. Spreads start at 1 pips on this account, and it requires a minimum deposit of 200 AUD.  

GO Plus+ Account

The GO Plus+ account is designed for the professional trader and requires a minimum deposit of 200 AUD. A commission of 6 AUD round turn per lot is charged, and the spreads are tight, averaging at 0.2 pips on the EUR/USD.

GO Markets Account Types

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Broker
Trading Conditions
Base Currencies
EURUSD (Standard)
Trading Cost (Standard)
EURUSD (Best)
GBPUSD (Best)
USDJPY (Best)
Commission
111104/ 5
AUD, USD, GBP, EUR, NZD, SGD, CHF, CAD, HKD
1 pips
USD 10
0.2 pips
0.5 pips
0.2 pips
0.0
1110.503.5/ 5
AUD, CAD, EUR, GBP, JPY, NZD, PLN, SEK, USD, ZAR
1.80 pips
USD 18
0.9 pips
1.3 pips
1.0 pips
0.0
11110.54.5/ 5
USD
0.50 pips
USD 5
0.8 pips
2.0 pips
1.4 pips
0.0

Spreads and Commissions

The spreads vary depending on your account type. Raw spreads are as low as 0.0 pips on the GO Plus+ account, and spreads start at 1 pips pips on the Standard account.  A commission of 6 AUD round turn per lot is charged on the GO Plus+ Account.

Deposits & Withdrawals

In line with Anti-Money Laundering policies, funds can only be returned to a bank account in the same name as your GO Markets account.  GO Markets does not charge any deposit or withdrawal fees, but withdrawals to non- Australian banking institutions may be subject to bank fees from any intermediary bank involved in the transaction.  Furthermore, withdrawal forms received before 1 pm AEST will be processed on the same day.  See below for more details on deposit and withdrawal methods:

  • Visa/Mastercard: Zero transaction fees and transactions are processed instantly. Accounts are denominated in AUD, USD, GBP, EUR, NZD, SGD, CAD, CHF, and HKD.
  • Skrill: Zero transaction fees and transactions are processed instantly. Accounts are denominated in AUD, USD, GBP, EUR, NZD, and SGD.
  • Neteller: Zero transaction fees and transactions are processed instantly. Accounts are denominated in AUD, USD, GBP, EUR, and SGD.
  • Bank/Wire Transfer: Zero transaction fees (but may be subject to fees from your banking institution), and transactions are processed in 1 – 3 business days. Accounts are denominated in AUD, USD, GBP, and EUR.
  • Fasapay: Zero transaction fees and transactions are processed instantly. Accounts are denominated in USD.

GO Markets does not charge inactivity fees on dormant accounts.

GO Markets for Beginners

GO Markets has a reasonable selection of basic education material, but other ASIC-regulated ECN brokers have better education sections and better-structured courses. GO Markets also provides a good selection of market analysis materials produced by a team of in-house market analysts. 

A common theme in the GO Markets education section seems to be that registration is required to unlock the complete set of information.

Education Material

GO Markets publishes downloadable handbooks, a structured Forex course, educational videos, and technical instructional videos to assist with the MetaTrader software.

There are two downloadable handbooks covering Forex trading – one for beginners and the other for more advanced traders. The first book for beginners is a free download and covers basic terminology, chart reading, and trader psychology. The advanced eBook requires registration and covers technical analysis and trading strategies. 

The handbooks complement a number of videos on trading strategies. A few of the videos are unlocked for public consumption, but the remaining videos require account registration to continue.

A two-part structured Forex course in the form of a webinar is open to the public and only requires that you register your name and email.

The first course covers the Forex market and trade entries and exits. The second webinar covers technical analysis, how to read charts, using technical indicators to understand data, developing a profitable trading plan, and advanced order types.

Elsewhere, there are 18 technical MT4/

MT5 videos to assist traders with everything from setting up charts and layout on the platform, to placing the first trade on the market.

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Broker
Beginner Course
Advanced Course
Well Structured Education
Education Quality
Webinars
Medium
High
High

Analysis Material

GO Markets regularly publishes news and analysis on its website.  These include a daily review at the close of the US markets, a weekly look at major talking points in the week ahead, frequent blog posts on important financial topics, tips for trading improvement, an interactive economic calendar, and a regular podcast featuring experts in the Forex market.

All of this analysis and news is available for free, even if you are not a registered customer of GO Markets.

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Broker
Economic Calendar
Autochartist
Trading Central
Trading View
Free VPS

Customer Support

Support is available 24/5, which is in line with the Forex trading week, via email, live chat, and phone (with local numbers in Australia, China, and the United Kingdom).  GO Markets also has a Quick Support tool that allows their technical support team to remotely access your desktop and fix any issues with your platform/software.

For the purposes of this review, we found the customer service responsive, knowledgeable, and polite.

Trading Platforms

GO Markets is a MetaTrader broker, offering full support for both MT4 and MT5.  As the first Australian broker to start using the MetaTrader suite of tools in 2017, GO Markets was recognised as the Best Forex Platform Australia at the FX & Broker Awards hosted by the Global Market Financial Review.

While MetaTrader is the industry favourite because it offers fast execution, advanced charting, expert advisors and VPS options, GO Markets supports an additional add-on called MT4/MT5 Genesis. This add-on installs an extra set of trading tools that enhance specific features that already exist on the platform.

Metatrader 4

The MetaTrader 4 (MT4) trading platform has long been considered the industry standard for Forex traders worldwide.  Though it is now showing its age, MT4 is still very popular for its auto trading features that enables algorithmic trading and strategy backtesting with expert advisors (trading robots).  Features of MT4 allow traders to:

  • View real-time pricing & execution
  • Open & close positions
  • Access the full range of Expert Advisors (EAs)
  • Place buy/sell orders
  • Access over 25 technical indicators
  • Access the economic calendar

MetaTrader 5

MetaTrader 5 delivers a powerful trading platform with Market Depth and a separate system for accounting orders and trades. It supports both order accounting systems: the traditional netting system and the hedging option system. Four order execution modes are available to meet various trading objectives: Instant, Request, Market, and Exchange execution. The platform supports all types of trade orders, including market, pending, and stop orders, as well as trailing stops.  It allows you to open up to 100 charts in 21 time frames and access over 80 technical indicators and analytic tools.  

While MetaTrader is the industry favourite because it offers fast execution, advanced charting, expert advisors, and VPS options, GO Markets supports an additional add-on called MT4/MT5 Genesis. This add-on installs an extra set of trading tools that enhance specific features that already exist on the platform.

Without the Genesis add-on, the trading alert system is hidden. With the Genesis add-on, trading opportunities are presented in a way that clients are alerted to them, while at the same time making a more complete range of EAs available for more efficient management of automated trading.

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Broker
Platform Choice
Copy Trading
Platforms
11110.54.5/ 5
111104/ 5
xStation5

Trading Tools

In addition to the trading platforms that GO Markets offers clients, they provide additional trading tools that include Autochartist, Myfxbook, and Trading Central. These tools collectively highlight trading opportunities using fundamental and technical analysis and do so in their unique way.

GO Markets also offers a wide range of trading tools, including Metatrader Genesis, Autochartist, Myfxbook, and Trading Central.

Autochartist

Autochartist is one of the most widely used MT4 charting tools among the GO client base. Autochartist removes the complex and time-consuming process of analysing charts for patterns by scanning and monitoring the markets on your behalf.  It sends audio and visual alerts when emerging and completed patterns are identified.  Traders gain access to this chart pattern recognition software when opening and funding a live trading account with 500 USD or more.

Trading Central

Trading Central is a collection of programs that offer actionable investment support with 24-hour multi-asset coverage, technical and fundamental analysis, and back-tested trading strategies.  Actionable market news can be delivered to you through WebTV or email, and trading strategies can be built from within the platform. 

VPS

Using a Virtual Private Server for MT4 & MT5 (VPS) gives you the speed and continuous access vital to your trading. With your GO Markets VPS, you can optimise the MT4 & MT5 trading platforms’ features and capabilities.  A service fee of 30 AUD will be charged for the service, but the fee will be waived should the client trade a minimum of 5 lots.

MetaTrader Genesis

MT4 & 5 Genesis is a comprehensive suite of MetaTrader trading tools to enhance the power of the standard MetaTrader platform.  Benefits of using the MetaTrader Genesis tool include:

  • Access to a professional suite of MetaTrader add-ons.
  • Use of the sophisticated order management system.
  • Access to trading alerts.

Myfxbook

Myfxbook is a cross-broker copy trading tool for traders of all experience levels and is used by 90,000 traders worldwide. It is similar to using EAs, but instead of following an algorithmic pattern, traders can mirror the trades of other Forex traders.  By connecting a GO Markets Standard Trading Account to Myfxbook, traders can take advantage of this system.  Myfxbook also provides its users with a broad range of statistics and analytics.  

Mobile Trading Apps

GO Markets supports the mobile version of MT4 and MT5.  These platforms integrate with the broker in the same way as the desktop versions of the software do, so all trading activity is synced.  

GO Markets Risk Statement

According to regulation, brokers are required to be transparent with Forex traders about their the complexity of financial products and also disclose the extent to which traders can lose their money.  GO Markets wants you to know:  Trading Forex and Derivatives carries a high level of risk, including the risk of losing substantially more than your initial investment. Also, you do not own or have any rights to the underlying assets. The effect of leverage is that both gains and losses are magnified. You should only trade if you can afford to carry these risks. Trading Derivatives may not be suitable for all types of investors, so please ensure that you fully understand the risks involved, and seek independent advice if necessary.

Evaluation Method

We value transparency and openness in the way we review the partners. To bring transparency to the forefront, we have published our review process that includes a detailed breakdown of the Go Markets offering. Central to that process is the evaluation of the reliability of the broker, the platform offering of the broker, and the trading conditions offered to clients, which are summarised in this review. Each one of these is graded, and an overall score is calculated and assigned to the broker.

Overview

GO Markets is a dependable and trustworthy market maker broker with an ECN account.  Offering trading on over 350 instruments, GO Markets only supports the MetaTrader platforms but provides an extensive set of trading tools.  Trading conditions are competitive, with tight spreads, but high minimum deposits.  Lastly, while its educational and market analysis materials are somewhat limited, the GO Markets customer service is polite, responsive, knowledgeable.  

AlertAccepts Australian Clients. Average spread EUR/USD 1 pips on trading account with lowest minimum deposit. Max leverage 500:1. Islamic account available. MT4 & MT5 platforms supported. Go Markets is regulated by ASIC.

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Overall Rating
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
11110.54.10/ 5
AUD 200
Market Maker NDD
ECN/DMA
Cryptocurrencies
Forex
Indicies
Metals
Equities
WTIs
50+
5
  • Fast and free withdrawals
  • Wide range of assets
  • Excellent market analysis
  • Innovative trading tools
  • High minimum deposit
  • No swap-free account option
111104/ 5
111104/ 5
11110.54.5/ 5
111115/ 5
11110.54.5/ 5
1110.503.5/ 5
1110.503.5/ 5
44% of retail investor accounts lose money when trading CFDs with this provider
500:1
0.20 pips
GoPlus+
Standard
Bank Transfer
Visa
Mastercard
Skrill
Neteller
Fasapay
BPay
POLi
6 USD / lot - GoPlus+
1110.503.98/ 5
AUD 200
Market Maker
Commodities
Cryptocurrencies
Forex
Indicies
Equities
Metals
Vanilla Options
103
3
  • Well regulated
  • Wide range of assets
  • Innovative trading tools
  • Limited platform choice
  • Limited account options
111104/ 5
1110.503.5/ 5
11110.54.5/ 5
11110.54.5/ 5
111003/ 5
11110.54.5/ 5
111104/ 5
73% of retail investor accounts lose money when trading CFDs with this provider
30:1
0.90 pips
Islamic
Premium
Standard
VIP
Bank Transfer
Sofort Banking
Visa
Mastercard
Maestro
Skrill
Neteller
Astropay
Fees Included in Spread
11110.54.14/ 5
USD 5
Market Maker NDD
Commodities
Forex
Indicies
Metals
ETFs
Cryptocurrencies
49
16
  • Well regulated
  • Tight spreads
  • Low minimum deposit
  • Good for beginners
  • Limited platform choice
111104/ 5
11110.54.5/ 5
111104/ 5
111003/ 5
111115/ 5
11110.54.5/ 5
111104/ 5
82% of retail investor accounts lose money when trading CFDs with this provider
500:1
0.80 pips
Islamic
Standard
xStation5
Bank Transfer
Visa
Mastercard
Skrill
Neteller
Paypal
Fees Included in Spread

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AlertMost retail CFD accounts lose money. Your capital is at risk.

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