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GO Markets Review
Updated June 20, 2022
Risk Warning: Trading forex, derivatives and leveraged products carry a high level of risk, including the risk of losing substantially more than your initial investment and it is not suitable for everyone. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
KEY TAKEAWAYS
- Competitive pricing (GO Plus+ accounts with spreads from 0.0 pip)
- Great range of education materials/programmes
- Regulated in the EU, Australia, Mauritius and Seychelles
- Fast and free account deposits
Regulations and Money Protection
5.0
| Entity Name | Licence & Regulation | Client Money Protection | Deposit Compensation Scheme | Negative Balance Protection |
|---|---|---|---|---|
| GO Markets Pty Ltd (MU) | Mauritius FCA Licence | ✔️ segregated client money |
❌ | ❌ |
| GO Markets Pty Limited | Australia ASIC Licence | ❌ | ✔️ | |
| GO Markets Ltd | Cyprus CySEC Licence | ✔️ up to €20,000 |
✔️ | |
| GO Markets International Ltd | Seychelles FSA Licence | ❌ | ❌ |
Entity/Regulation
- Mauritius FSC regulation: GO Markets Pty Ltd (MU) is registered in Mauritius, with company number 170969 and with address at the Level 7 Office 12, ICONEBENE Lot B441, Rue de L’Institut, Ebene Mauritius. This entity is authorised and regulated by the Mauritius Financial Services Commission (FSC), as an investment broker (Discount Broker), with licence number GB 19024896).
- Australia ASIC regulation: GO Markets Pty Limited is a company registered in Australia, with ABN 85 081 864 039, with an address at 447 Collin Steet, Melbourne, Australia. This entity is regulated by Australia’s ASIC with ACN number 081 864 039 and AFSL licence number 254963.
- Cyprus CySEC regulation: GO Markets Ltd is a company registered in Cyprus as a Cypriot Investment Firm (CIF), with the number 351644. Go Markets Ltd registered office is at Agias Zonis & Tertaiou, 73 Denas House, 3rd floor, 3090, Limassol. This entity is authorised and regulated by Cyprus Securities and Exchange Commission (CySEC) with licence number 322/17.
- Seychelles FSA regulation: GO Markets International Ltd, trading as GO Markets, is a company incorporated in the Republic of Seychelles, with registration number 8425985-1. With a registered address at Office No 1, First Floor, Siva's Complex, Providence, Mahe, Seychelles, this entity is licensed and regulated by the Seychelles Financial Services Authority (FSA) with a Securities Dealer Licence, number SD043.
Client Money Protection
- GO Markets complies with the highest safety standards for clients' funds. For this reason, GO Markets clients' funds are kept in the National Australia Bank (NAB), a top-tier international bank, fully segregated from the company's funds.
- GO Markets also complies with the client money handling rules and employs strict policies and procedures regarding the maintenance and operation of these accounts. GO Markets holds clients' money separately from the company funds and does not use these funds for any operational expenses or purposes.
Deposit Compensation Scheme
GO Markets Ltd is a member of the Investor Compensation Fund (ICF), an investor compensation fund for clients of CIF companies, and its functions are regulated by the directive DI87-07 of the CySEC. In the unlikely event that GO Markets Ltd is unable to meet its obligations, or if the company has been declared to be in default, clients might be entitled to compensation, up to the value of €20,000 per claim.
Negative Balance Protection
Clients of the GO Markets Ltd and GO Markets Pty Limited entities are protected by a default Negative Balance Protection mechanism, in place to prevent a negative account balance, and per ESMA and ASIC's product interventions. With NBP, retail traders are protected from any losses bigger than their original investments, in cases of extreme market volatility.
Clients of the GO Markets Pty Ltd (MU) and GO Markets International Ltd entities are not protected by a default Negative Balance Protection mechanism. Without NBP, retail traders will remain liable for any negative balance which cannot be covered by the closing out of losing trading positions.
Clients of the GO Markets Pty Ltd (MU) and GO Markets International Ltd entities are not protected by a default Negative Balance Protection mechanism. Without NBP, retail traders will remain liable for any negative balance which cannot be covered by the closing out of losing trading positions.
Accounts, Instruments and Platforms
| Accounts | Instruments | Platforms | Social trading | Maximum Leverage |
|---|---|---|---|---|
| ✔️Standard ✔️GO Plus+ ✔️MAM ❌Islamic Accounts |
✔️Forex ✔️Indices ✔️Stocks ❌Futures ❌ETFs ❌Bonds ✔️Commodities ❌Cryptos |
✔️MT 4 ✔️MT 5 ❌cTrader |
❌ | 30:1 Europe/Australia 500:1 Rest of World |
Account types and currencies
- GO Markets has two trading accounts available; Standard and GO Plus+, both available with the MT4 and the MT5 platforms. Currently, GO Markets does not offer swap-free accounts for traders of Islamic belief.
- GO Markets does not provide a social trading platform.
- GO Markets has MAM accounts for money managers.
- GO Markets' maximum leverage is 30:1 for accounts opened with the entities in Europe and Australia, and up to 500:1 for accounts opened with the other two group's entities.
- Currently, GO Markets trading accounts are available in AUD, USD, GBP, EUR, AED, SGD, CAD, CHF and HKD.
Financial instruments
Trading with GO Markets can be done via the MetaTrader 4 and MetaTrader 5 platforms, available on web, desktop terminal and mobile versions. GO Markets offers an excellent selection of more than 600 instruments to trade, from several asset classes including forex, indices, stocks and commodities. Please note that available trading instruments may vary depending on the MetaTrader platform chosen.
- FX market - 50+ currency pairs (including Minor and some Exotic crosses).
- Indices - 14 highly liquid indices CFDs including FTSE 100, CAC 40, US 500 and ASX 200, plus, 2 additional indices futures contracts: US Dollar and China 50.
- Stocks - 350+ shares CFDs from AU, US & HK stock exchanges of worldwide top companies and banks, such as Westpac Ltd, Uber, Twitter, Alibaba and Tencent.
- Commodities - 6 spot commodities CFDs including 2 metals (Gold and Silver), 2 energies (UK Oil and US Oil) and 2 futures contracts (UK Oil and US Oil).
- Cryptocurrencies - currently, GO Markets does not offer this asset class for trading.
Pricing
4.2
| Pricing/ Account |
Standard | GO Plus+ |
|---|---|---|
| Spread EUR/USD | from 1.0 pip | from 0.0 pip |
| Commissions (1 lot) | ❌ | $5 |
| Minimum Deposit | from $200 | from $200 |
Spreads
GO Markets spread for the most popular pair, the EUR/USD, on a Standard account starts at 1.0 pip. Trading is commission-free and we consider the spreads of the Standard account to be average when compared with other top brokers with similar pricing.
With a GO Markets GO Plus+ account, the EUR/USD minimum spread is 0.0 pip. To benefit from the lower spreads of the GO Plus+ account there's a small cost to pay in the form of a trading commission. For the FX pairs, the standard lot commission for 1 lot (100,000 units) is 5 USD (2.5 USD per side/per lot). Positively, GO Markets trading commissions, for the GO Plus+ accounts, are way lower than most top brokers, who charge normally $7 per round lot.
With a GO Markets GO Plus+ account, the EUR/USD minimum spread is 0.0 pip. To benefit from the lower spreads of the GO Plus+ account there's a small cost to pay in the form of a trading commission. For the FX pairs, the standard lot commission for 1 lot (100,000 units) is 5 USD (2.5 USD per side/per lot). Positively, GO Markets trading commissions, for the GO Plus+ accounts, are way lower than most top brokers, who charge normally $7 per round lot.
Rollover Rates
GO Markets swap rates, as of 20-06-2022, for 1 lot EUR/USD (100,000 units) stands at an average rate of -0.578 points for holding overnight a long, 1 lot, contract and at +0.275 points for holding overnight a short, 1 lot, contract. We consider GO Markets swap rates to be in line when compared with the rollover rates offered by other top forex brokers.
Deposits/Withdrawals and Other Fees
- Deposit fees - Trading accounts can be opened in 9 different currencies and maintained via 6 different funding methods, including cards, bank wires and e-payments such as Neteller, Skrill and Fasapay. Deposited funds are available almost instantly and GO Markets does not charge any fees for deposits.
- Withdrawals fees - A similar policy applies for withdrawals (processing times vary from instant to 1 working day). GO Markets does not charge any internal fees for withdrawals, however, fund withdrawals may be subject to bank fees from any intermediary bank involved in the transaction and may attract a receiving fee from your bank/institution. For more information, please visit the GO Markets deposit and withdrawals web page.
- Inactivity fee - GO Markets does not charge an inactivity fee or any account maintenance fees.
Popularity
4.0
| Forex Education |
Deposit Options |
Deposit/Withdrawals Fees | Non-expiring demo account | Customer Support |
|---|---|---|---|---|
| Podcasts Market news Market analysis Trading guides Trading tools & calculators Trading videos Trading signals |
Cards Bank Wire E-payments |
❌ | ✔️ | Multi-lingual 24/5 Support Live Chat Phone call |
Founded in 2006, the popularity of this Australian-based CFDs broker is above average, also thanks to clever marketing campaigns and high-profile sponsorships, such as the UK's Chelsea FC. Trading can be done with a good range of platforms (MT4, MT5) to suit all kinds of traders, but the key factor for GO Markets' popularity is its competitive pricing. Particularly with the GO Plus+ pricing, with attractive spreads and below industry average commissions for forex trading.
Offering reliable trading technology, GO Markets boasts fast trading servers, maximizing order execution speeds on all of its trading platforms. GO Markets also provides traders with direct access to institutional-level liquidity providers, minimizing slippage and assuring always the best market quotes.
- Trading accounts - The GO Markets GO Plus+ account is a popular choice with traders looking to save on trading costs, with a lower spread and a competitive commission of just $5 per lot traded. Extra points for GO Markets' policy of no fees on deposits or withdrawals.
- Forex education - GO Markets also gets extra popularity points for their extensive range of forex education and trading materials, available through the "Education" and "Tools" tabs. GO Markets clients can listen to curated podcasts, read updated market news and market analysis, use great trading tools and calculators, receive trading signals and more.
| Funding Methods | Bank wires, credit/debit cards, Neteller, Skrill, FasaPay |
|---|---|
| Support Languages | Arabic, Armenian, Belarusian, Cantonese, English, German, Hebrew/Yiddish, Indonesian, Malay, Portuguese, Russian, Ukrainian, Thai, Vietnamese |
- Minimum deposit - Opening a trading account with GO Markets is quite easy and can be done online, taking around 10 minutes to complete all the required forms. The minimum deposit recommended to open a live account with GO Markets is $200 for the Standard and GO Plus+ accounts.
- Customer support - GO Markets' multi-language customer support service is available 24 hours, 5 days a week, in 14 languages. GO Markets' support is available via phone call, email and live chat directly from the broker's website.
Broker Profile
Established in 2006, GO Markets is widely recognised as Australia’s first MT4 broker. GO Markets aims to become the first choice for CFD trading, for every level of trader, with its competitively priced spread-based and commission-based accounts.
GO Markets is constantly looking to improve clients’ trading experience through committed customer service, transparent pricing, low-latency execution and platform stability. Since its creation, GO Markets has managed to gain an industry-leading position as a trusted and regulated broker, offering the best possible online trading experience.
As Australia's ASIC and Cyprus CySEC regulated company, GO Markets is required to meet strict financial standards, including capital adequacy and audit requirements. GO Markets provides reliable access to a wide range of markets, including shares, indices, FX and commodities, through the "classic" MetaTrader4 and the next-gen MetaTrader5.
Overall, on our GO Markets review, the broker is currently scoring an above-average 3.3 out of 5.0. GO Markets is a great choice for traders looking for a highly regulated broker (in the EU and Australia). GO Markets is also recommended for novice traders, for the great range of innovative trading tools available to clients (GO Markets is an award-winning broker for Education Materials/Programmes). Also, and to conclude our wrap-up, a positive note for its competitive pricing, merged with a zero-fee policy for deposits/withdrawals (except international bank wires).
Data supplied in partnership with CashBackForex - Forex Rebates places GO Markets on the top 10 brokers for popularity with traders opening an account in 2022.
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GO Markets is constantly looking to improve clients’ trading experience through committed customer service, transparent pricing, low-latency execution and platform stability. Since its creation, GO Markets has managed to gain an industry-leading position as a trusted and regulated broker, offering the best possible online trading experience.
As Australia's ASIC and Cyprus CySEC regulated company, GO Markets is required to meet strict financial standards, including capital adequacy and audit requirements. GO Markets provides reliable access to a wide range of markets, including shares, indices, FX and commodities, through the "classic" MetaTrader4 and the next-gen MetaTrader5.
Overall, on our GO Markets review, the broker is currently scoring an above-average 3.3 out of 5.0. GO Markets is a great choice for traders looking for a highly regulated broker (in the EU and Australia). GO Markets is also recommended for novice traders, for the great range of innovative trading tools available to clients (GO Markets is an award-winning broker for Education Materials/Programmes). Also, and to conclude our wrap-up, a positive note for its competitive pricing, merged with a zero-fee policy for deposits/withdrawals (except international bank wires).
Data supplied in partnership with CashBackForex - Forex Rebates places GO Markets on the top 10 brokers for popularity with traders opening an account in 2022.
Was this review helpful? Share it with a friend!
GO Markets User reviews
GO Markets Account types user rating
(1)GO Plus+
(1)Standard