GO Markets review and test – How good is the broker?
Go Markets has been in the brokerage business for a long time. It is one of the pioneers in the foreign exchange industry. They have built their company from the ground up, becoming one of the powerhouse online brokers in the whole world.
They have an all-encompassing vision of being the first (and perhaps only) choice for trading and offering the best experience to their customers through dependable customer support, low-latency trade execution, honest pricing, and featuring user-friendly and stable online platform.
Go Markets’ utmost priority is geared towards their clients. They have a client-first approach and attempt to be the number 1 option for CFD (Contract for Difference) and forex trading for beginner and seasoned traders alike.
They have integrity and compliance by abiding by the strictest standards in regulation. They also have put ethical measures in place, to provide a sincerely transparent online service that they can be proud of and differentiated from the others.
Innovation is the benchmark as well as the foundation that Go Markets stands upon. They are devoted to providing a high-quality and groundbreaking computer interface, which provides clients with safe transactions and interactions in the financial market.
Their ultimate goal is simply being the best in the business and maintaining the pioneering work ethic that had put them on the map in the first place. They strive to also grow in the global finance industry, thus leaving its positive and indelible mark.
We have over nine years of experience and made a thorough research on this online platform and the support it provides. Once you have read this review entirely, it will aid in your decision-making process whether you are going to utilize it or not.
What is Go Markets? – The Company Presented
Go Markets is rightfully a trailblazer in the world of finance and burst into the scene in 2006. It is renowned for being one of the first brokerage firms that adapted the MT4 or Meta Trader 4 platform for their website. It has since made upgrades and included MT5 or Meta Trader 5 in 2018, and in 2012, it acquired the Web Trader browser into its system.
The company has its base of operations in Melbourne, Australia, and is principally owned by Octava, a Singaporean firm.
Go Markets Ltd (or is also known as Go Markets SVG) is a company that specializes in forex, index, commodities, and CFDs trading.
In 2017, the company added the FTSE China A50 and the US Dollar indices to its wide array of CFD index products.
In 2017, Christopher Gore was selected as Go Markets CEO or Chief Executive Officer. He first joined the company in 2009 as a financial analyst, and in 2013, became the Director and Responsible Manager.
Go Markets SVG is a division of the Go Markets group, which has offices in Cyprus, London, Taiwan, Dubai, and Australia.
Here are each of the office’s contact information:
- Melbourne, Australia
Address: Level 11, 447 Collins St. Melbourne, VIC, Australia
Contact number: +61385667680
- St. Vincent and the Grenadines
Address: 1st Floor, 1st St. Vincent Bank Ltd.,
PO Box 1574, James St. Kingstown, VC0100, St. Vincent and the Grenadines
Contact number: +442086380142
- London, United Kingdom
Address: 107 Cheapside, London EC2V 6DN.
Contact number: +44203637618
- Hong Kong
Address: Causeway Bay, Hong Kong
Contact number: 4001208537
The Regulation of Go Markets – How Safe is It?
Go Markets is supervised and regulated by ASIC or the Australian Securities and Investments Commission.
It uses the name “Go Markets Pty Ltd,” and has asked permission to use the “Go Markets” brand from an incorporated company in Victoria, Australia.
It also has a current AFSL or Australian Financial Services License Number 254963 and ABN or Australian Business Number 85081864039.
It is also an incorporated company in St. Vincent and the Grenadines under the Business Companies (Amendment and Consolidation) Act, Chap. 149 of the 2009 revised laws of St. Vincent and Grenadines.
It had a previous license as a securities dealer (in 2000) and life insurance broker (in 2001).
Here are the mandatory security measures that brokers must fulfill from the regulating entities:
- Adhering to the ASIC safety standards.
- Clients’ funds are segregated from company stocks with the Commonwealth Bank and the National Australia Bank.
- Having a procedure of initiating a margin call to lessen the chance of getting a negative balance in their accounts.
- The company is an Australian Financial Complaints Authority member. It has an external dispute resolution scheme in place.
Go Markets Trading Conditions – Fees, Spreads, and Commissions
Go Markets’ spreads are competitive. Minor and major foreign exchange pairs range from 0.2 to 0.5 pips, as indices’ minimum trade size starts from 0.1 pips. Silver. Gold and oil have variable spreads.
Commissions only occur on the Go Plus+ Account of three US dollars per side on a standard lot. Swap rates happen whenever a client is buying or selling and holding it overnight.
The leverage is also competitive. Forex pairs can go up to 1:500, share CFDs can be as high as 1:20, and indices up to 1:100.
Every Go Markets accounts have 1:100 default leverage. Yet you can select a rate from 1:1 to 1:500, depending on the account balance.
Go Markets Products
Traders can have access to more than ninety products from five markets:
- Precious Metals- You can trade in gold and silver through the MT4 tool as CFDs or Contracts for Difference. One lot size of Gold CFD is equal to one hundred ounces, and for silver CFD, one lot is equal to 5k ounces. A small lot enables you to minimize your exposure and risk. It will also broaden the scope of your trading portfolio.
- Forex- It is the most liquid and largest financial market, and Go Markets is one of the pioneers in forex trading while using MT4.
You can trade in over fifty forex pairs. With MT4, you can access EAs, mobile trading, analyze financial markets, capability to accomplish orders, and use leverage up to 500:1.
- Indices- You can gain access to multiple Index CFDs via MT4. There are twelve cash CFDs and two future CFDs available to trade worldwide:
Cash Index CFDs
- FTSE 100
- CAC 40
- US 50
- ASX 200
- DAX 30
- STOXX 50
- US 2000
- HK 50
- ESP 35
- WS 30
- NDX 100
- JP 225
Future Index CFDs
- China A50
- US Dollar Index
- Commodities- You can trade with commodities via the MT4 tool. It is one of the closely observed and heavily traded products in the worldwide financial markets.
- Share CFDs- You can trade with these products on the MT5 tool. It currently not yet available to trade and is “coming soon.”
Soon, you can trade in ASX Share CFDs, and NYSE and NASDAQ Share CFDs while utilizing leverage up to 20:1.
When the time arrives, you trade in shares with two hundred US dollars. And also gain control of a position of some famous shares worldwide like Google, Apple, Facebook, etc.
Forex trading hours run from Monday midnight to Friday midnight (GMT+3). For the other assets, they run at different times, which you can find on the broker’s website.
Review of the Go Markets Trading Platform
MT4 or Meta Trader 4
Go Markets and MT4 have a long and impressive history and helped elevated each other to their present status today. This trading tool has long been regarded as a benchmark for the worldwide foreign exchange industry.
Go Markets’ experience with MT4 has been beneficial, thus producing outstanding features that are second to none like the MT4 Genesis (which will be explained further in a segment below). It was developed further due to the increasing client base.
It has been a favorable alternative for rookie and more seasoned forex traders alike, utilizing EAs or Expert Advisors and detailed examination of financial markets.
In more than ten years that Go Markets utilized MT4 as their powerhouse tool, they have created premier trading capabilities like:
- High-tech charting options
- Ultra-quick execution
- VPS or Virtual Private Servers
- Mobile trading systems for electronic communication devices
- Market analysis indicators
- Features for automated trading
- More than ninety accessible assets for trading
- Availability of commodities, forex, and indices for trading
- Automated by fully utilizing EAs
It is an add-on to MT4 that enhances its abilities to its full capacity and enables trading with commodities, forex, and indices.
It is a set of EA or Expert Advisor programs that can be easily implemented with a mouse-click.
In more than ten years since Go Markets had used MT4 as their trading platform, they have developed add-ons that would greatly aid their clients in managing risk, maximizing their trading capabilities, and finding new opportunities for trading.
Here are the benefits if you upgrade to MT4 Genesis:
- Being able to utilize the advanced order management system
- Accessibility of a comprehensive software suite of Meta Trader add-ons to provide an intensified experience
- Has the capacity to receive significant markets alerts and notifications so you would not miss an opportunity to place trades
You can learn more about MT4 tutorial videos in the Education Centre portion of the menu tab. It’s located in the upper right corner of the website.
MT5 or Meta Trader 5
There is another fantastic trading tool, which is MT5. It is an innovative version of MT4 and has more features and capabilities. However, it is not yet available for trading on Go Markets and is still “coming soon.”
If you want to use it once it is available, you have to know about its specifications first.
It is designed to be multi-functional, have easier navigation, and are more advanced. It enables easy trading access and the best option for the modern and technologically savvy trader.
Here are its many features:
- Access to more than ninety assets like precious metals, forex, commodities, and indices
- Trading in one click
- Full access to EAs Expert Advisors
- Supports all types of orders
- More than eighty technical analysis objects to choose from
- Hedging is allowed
- Market depth of the most recent price quotes
When the MT4 is available, it will allow you the capability of movement from one place to another while trading from a mobile device. You can place trades at any time of the day with various tools and features to select.
This trading software provides all the capabilities of MT4 and MT5 that are fully accessible directly from any web browser. You do not need to download any app or extension. It permits the customers to trade with CFDs and engage in price analysis in any place where you can get internet. It is a reasonable choice for users that needs to uncomplicated and easy manner.
It is compatible with the regular OS or operating systems like Linux, Windows, and Mac.
It is a new tool on the Go Markets site, but along with MT5, is not yet available and still “coming soon.”
It is described as “the largest social trading community for forex traders.” It is a global copy trade service, which replicates profitable trades for successful traders. It has more than 90k members from all over the world. They use it to attain a trading advantage.
To enable this feature, open your Go Markets standard trading account to Myfxbook so that you can utilize it for yourself. It also offers a broad scope of analysis and statistics you can apply.
Here is a list of its features:
- You can copy successful traders who are proven to have profitable trades.
- You can easily access Myfxbook directly from the browser.
- All applicants are first approved by Myfxbook before their accounts become accessible for the auto-copy.
- You can access the necessary tools they offer practicable statistics and analysis.
- You can easily manage the auto-copy trades, which you can change and halt any time you prefer.
Here is how to get started to enable the Myfxbook service on your account:
- First, open a new Go Markets Standard Trading Account. It is also required to have a unique MT4 account along with the former. If you do not have one yet, please create one and look for the “open a live account” tab on the site, fill out an online application form and submit it.
If you already have an account, you can email their support team to request an additional live account.
There is a minimum balance of 1k US dollars for a live account with a Myfxbook Auto Trade add-on.
- Second, register and connect your trading account to the Myfxbook Auto Trader add-on.
Once you receive your Meta Trader log-in credentials, choose “Register” to start utilizing the add-on. You will be given instructions on the proper way to connect to your account.
All other queries related to Myfxbook Auto Trade can be answered by the FAQ or Frequently Asked Questions on the website.
There is Go Markets mobile application for Android and iOS devices, which can be downloaded on App Store or Google Play. You can trade any time of the day, in any place you can be, with mobile MT4 or MT5. It has the same tool’s features as the desktop version and has the same services.
Go Markets Additional Tools and Features
There are other extra-special tools offered to rookies and expert traders alike:
- a-Quant Daily Trading Strategies- These are trading signals that utilize artificial intelligence. It is also a fintech company name headquartered in Cyprus and has branch offices in Greece, Athens, and London in the United Kingdom.
It has developed and manufactured technologically advanced products for trading that utilizes machine learning algorithms specially created for online brokers.
- Trading Central- Go Markets is fortunate to include this trading software that enables excellent pattern recognition to increase your trading capability.
It is a suite of programs that provides twenty-four-hour investment support regarding fundamental and technical analysis, multi-asset coverage, and trading strategies.
You can access it by activating it on the client portal.
- Autochartist- It is available on Windows for the MT4 platform only. It offers volatility analysis and trading alerts in real-time.
Rookie and advanced traders can access one of the best chart recognition software in the world once you open and deposit five hundred US dollars or more.
It is at the cutting edge of new technology, with a built-in automated trading facility and access to event impact analysis, volatility, and price action alerts. Look for Autochartist tutorials in the Education Centre tab on the home page.
- VPS or Virtual Private Servers- It provides ultra-quick and reliable access for MT4 and MT5 applications.
Foreign exchange involves trading in fast-moving markets, and you need a tool that provides real-time access as quickly as possible.
With VPS, it provides constant access and speed when you trade, and with Go Markets VPS, you can achieve maximum efficiency of the platforms for trading.
It grants you to accomplish trades with EAs or Expert Advisors in an easy and fast manner.
Here are the many benefits:
- It provides constant accessibility in operating EAs and algorithms in the system.
- Enabling remote access to trading.
- You can access fully outfitted and technologically advanced trading conditions.
- You do not need to have additional devices for backup.
- Straightaway access to forex liquidity worldwide.
To access VPS in Go Markets, just send a message to their support team, either via email or on the “Chat” tab on the website.
Go Markets Types of Accounts
There are two account types, and both require a minimum deposit of two hundred US dollars and available in nine currencies.
- Standard Account- No commission, can access spreads up to 1.0 pip, and 0.01 lots minimum trade size.
- Go Plus+- All the same features as the Standard one, but has low spreads from 0.0 pips. It is subjected to a three US dollar commission per side.
There is a third option: a demo account, which you can use to practice. Just click on the “Try a Free Demo” tab on the homepage to try it out.
Go Markets Payment Methods
Here are funding alternatives for the Go Markets account types available in many base currencies:
- Mastercard and Visa
- Bank wire transfer
There are no fees for depositing. All funding methods are immediate, except for BPAY and bank wire transfer, which takes three days.
To withdraw funds, you can send in a request through the Go Markets client portal. Requests made before one pm AEST will be actioned on the same day, and all done after will be processed on the following business day. The length of time the funds will show in the account is dependent on the payment service provider.
Go Markets Education and Research – Education Centre
Go Markets have outstanding educational resources that provide beginner and advanced traders alike with a wide selection of learning materials. It is the best possible way to gain knowledge and improve your trading skills by providing methods to understand the science of trading.
Traders on both sides of the educational spectrum are going to find a wealth of materials to utilize and essential information like how to get started or improving your trading skills to reach the next level.
- Handbook about Foreign Exchange Trading- If you want to focus on trading with foreign exchange, you must know all the information related to it, including basic, and advanced topics. All can be found in the Education Centre tab on the site.
- MT4 Video Tutorials- It is the best way to learn about MT4 features and charting tools. It’s catered to rookie traders that teach everything about MT4. There are basic and advanced topics in video format that range from thirty seconds to three minutes. These are bit-by-bit instructions in letting you learn about MT4. Please check the Education Centre link for topics.
- Free Forex Education Courses- In this section, you can learn about all about forex for free. There are two beginner and intermediate level courses for traders to aid in their journey as a trader for Go Markets:
- First Steps in Forex
- Next Step in Forex
The third course is “Inner Circle,” which is a coaching program created to give ongoing weekly teachings and market reviews to gain confidence and knowledge. And to also link up with other CFD and forex traders.
- FAQ or Frequently Asked Questions- If you have not found a particular topic on the Education Centre link and want to know more about it, maybe you can find it in the FAQ section. There are lots of practicable information that you can learn. There are questions and answers under these three topics:
- General- Example question: How long does it take to open a live trading account with you?
- Trading- Example question: What is a margin?
- Technical- Why can’t I log in to my demo account?
Countries that Accept Go Markets
- Hong Kong
- South Africa
- United Kingdom
- Saudi Arabia
Countries that Don’t Accept Go Markets
- The United States and many more countries.
Go Markets has been in the trading business for a long time and has built a very good reputation from its peers and to the client base. They have the best tools, tight spreads, and low fees. Selecting it as a trading partner is a wonderful choice that you won’t regret.