GOMARKETS

About company:

GO Markets is an Australian Forex broker founded in 2006. GO Markets offers trading in a variety of asset classes including currencies, stocks, indices and commodities.

 

history of the company

GO Markets is the trade name of GO Markets Pty Ltd, registered in Australia (AFSL 254963).

 

There was also a broker GO Markets UK who previously operated in the UK under a licensing agreement with GO IP Pty Ltd in Australia. However, GO Markets UK now operates under the Infinox brand. We have not found any confirmation that Infinox and GO Markets are related or related to the same company.

 

Little is known about the history of the Australian company GO Markets. But the terms of trade are described in detail.

 

Fund security

Got Markets is licensed by Australia's sole regulator. ASIC monitors all activities of the financial market, as well as businesses and companies in Australia. The regulator has the right to audit any money transfer, regardless of whether they are commercial, investment or social. ASIC has repeatedly brought unscrupulous brokers to the surface. The regulator can influence the broker with fines or a ban on conducting financial activities, and even for life. Nevertheless, the level of confidence in ASICs is average. In the worst case, the regulator will not return the money to traders, will not have time to collect it from fraudsters, and will not prevent fraud. Therefore, if you are ready to invest large sums, we advise you to pay attention to brokers who work under the clear guidance of more stringent regulators, such as CySEC.

 

Trading conditions

GO Markets offers a Standard Account and a Go Plus Account. The main difference between these accounts is the size of the spread and the deposit. Like many popular brokers, the company offers commission and commission free trading.

 

Minimum deposit

Trading starts with a $ 200 deposit on a standard account. $ 500 will have to be invested by traders who open a Go Plus account.

 

Spreads and commissions

Like most brokers, GO Markets takes a commission on the spread, which is the difference between the buy and sell price of the instrument.

 

GO Markets lists minimum spreads on its website. So, for the popular EUR / USD pair, the spread is 0.1 pips.

 

The commission is $ 3 per lot.

 

If you are interested in trading on a standard account without commission, then spreads start from 1 pip.

 

Leverage

Leverage on both accounts is offered up to 1: 500. Such leverage will certainly help you increase your deposit if you trade correctly, but, nevertheless, if you stumble, you risk losing everything. It is for this reason that, trying to secure the investments of clients, many regulators now limit the amount of the deposit to controlled brokers. For example, up to 1:50. Therefore, as practice shows, traders more often lose than earn by trading with leverage. We advise you to use leverage wisely.

 

Trading platforms

GO Markets is one of the few brokers to offer both MetaTrader platforms: MetaTrader4 and MetaTrader5. These are the two most famous terminals in the world from the software company MetaQuotes. MT5 is the latest version of the terminal to replace MT4. To ensure that as many traders as possible trade on MT5, MetaQuotes announced that it will no longer release updates for MT4. Although MT4 is still more popular than its new version, the reason for this is the million EAs that cannot be transferred from MT4 to MT5.

 

Let's take a look at what options each platform offers.

 

MetaTrader4

 

Access to over 250 trading instruments Forex, indices and commodity trading Using Expert Advisors Built-in indicators for analyzing market movements Mobile trading systems

 

MetaTrader5

 

More than 250 built-in indicators One-click trading All order types are supported More than 80 tools for technical analysis Up-to-date market quotes Separate order and deal accounting system

 

GO Markets allows expert advisor trading, hedging, scalping. In addition, the broker provides free VPS for MT4 and MT5 to clients whose minimum trading volume reaches $ 1 million per month. Other traders are charged a commission of $ 10 per month.

 

Significant services

The broker introduces social trading from Myfxbook, where some traders can successfully copy the trades of other traders. Myfxbook also provides its users with a wide range of statistics and analysis.

 

Moreover, Go Markets conducts online seminars in Chinese.

 

Support service

GO Markets supports a wide range of languages including English, Polish, Portuguese, Vietnamese, Korean, Thai, Chinese, Spanish, Italian.

 

Contact methods: phone number, email, feedback form. I would like to see brokers provide support using modern instant messengers or the worldwide popular Skype. So far, we see a standard set of communication methods at GO Markets, which is also pretty good.

 

Ways of payment

Funds can be deposited using fasapay, NETELLER, POLi, BPAY, SKRILL, bank transfer, VISA / MASTERCARD credit cards.

 

Criticism of traders

Traders note profitable swaps and spreads. At the same time, when approaching the leverage border, there were problems with replenishment of funds. And also

 

traders point out that the broker is not suitable for scalping.

 

Pros:

 

the broker has been working on the market for over 10 years; MT4 and MT5; social trading; choice of payment methods.

 

Minuses:

 

high deposit; small selection of currency pairs for trading.