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Go Markets Review
- 40+ Pairs
- A+ Mobile App
- Fast Payouts
- Low Deposit
Editors Summary
As one of the first brokers to introduce MT4 to Australia in 2006, this broker has gone on to become one of the industry's leading Australian Forex brokers. They offer a range of tools including Autochartist, trading central analysis and MT4 Genesis to ensure that you get the most efficient trading experience. With mobile optimised website plus apps for both MT4 and MT5, be confident of an all-round excellent Forex trading.
Risk Warning: The products offered by the companies listed on this website carry a high level of risk and can result in the loss of all your funds. You should never risk money that you cannot afford to lose.
Ad Disclosure: Some of the links that you will find on this website are advertisements for which we do receive financial gain for referring new customers.
Introduction
Established in 2006, GO Markets is an Australian broker, based in Melbourne and licensed and regulated by the Australian Securities and Investment Commission (ASIC). They have developed over the last decade and more to provide stable trading platforms, fast trade execution and reliable customer service.
When it comes to Forex trading, they offer several currency pairs, and trading is available on both the popular MetaTrader4 and MetaTrader5 platforms on both desktop and mobile. They segregate client funds in the National Australia Bank and the Commonwealth Bank, both of which are reputable banking institutions.
There are now many reliable Australian Forex licensed brokers to choose from; the question is which one is right for you? We take a look in more detail at the experience and features that are offered by GO Markets. What can you expect by choosing them as your platform of choice for Forex trading?
Account Types
While different brokers offer different types of accounts, it is not unusual to see a broker that offers a choice of two. GO Markets provide the option of a Standard account or a GO Plus+ account. There is also the free Demo Account which is a standard feature of many brokers.
Demo Account
The demo account is available free on either the MT4 or MT5 platforms. The choice of which to use is yours. There are $50,000 of virtual funds available, and the pricing feed is the same as that used for the real-time live accounts. You can practise like you are live trading and experience the same spreads and execution.
Standard Account
You can open a standard account with an opening deposit of AUD 200. You can then choose whether you want to trade on the MT4 or MT54 platform. Many brokers will offer separate accounts for each type of trading software. Spreads are available from 1.0 pips and leverage of up to 500:1. There are no commissions charged, and you will benefit from fast execution spreads. This account is perfect for both beginners and more experienced traders alike with plenty of educational tools to assist you to make the best decisions.
GO Plus+ Account
For an opening balance of AUD 500, you can open a GO Plus+ account which is more suited to higher volume or EA traders. The spreads are very low, starting from 0 pips. Again, like the Standard account, the minimum trade size is 0.01 lots with leverage of up to 500:1. The commission is AUD 3 per side. With both the Standard and the Go Plus+, a dedicated account manager is available 24 hours a day, five days a week.
Trade Features And Payouts
Trading features and payouts are an essential feature of trading with any broker, and you must be familiar with each of those that are critical to Forex trading. These include the leverage you can achieve to make your money go further or the spreads that offered by each broker:
Leverage
As a default, every client is set up with leverage of 100:1. Depending on the balance of your account though you can choose a position of between 1:1 to 500:1. It is imperative that you monitor your trading activity and that you don't leverage beyond your means. The higher you leverage your trades, the greater the risk and you could lose your entire account balance if not careful.
Spreads
Spreads start from 0 pips on the GO Plus+ account and 1.0 pips on the Standard account but will vary depending on the currency pair that you are trading on. It is also essential to consider the commissions that you will pay per side. The commission is 0 with the Standard account and AUD 3 with the GO Plus+.
Stop Loss
A guaranteed stop loss allows you to exit a trade automatically at a certain point to ensure that you don't lose too much. It is excellent for those that like to place their trades and forget about them but limit their exposure. For those who want to exit the with profit at a specific limit, 'take profit' is a great solution.
Platform Types
GO Markets offer just two types of platform from the reputed MetaQuotes suite of software. These are the well–recognised and popular MetaTrader4 and MetaTrader5, which you can use in real-time on the demo platform as well as with your live account. They are well proven, easy to use and intuitive and offer a great trading experience on both desktop and mobile.
Bonuses And Promotions
In the past, GO Markets has offered various welcome and deposit bonuses to new traders. These offers have all expired, and there are no incentives at this current time.
As seems to be the case with several Forex brokers, there are no specific bonuses and promotions for opening an account and depositing funds. There is however a refer-a-friend bonus of AUD 100 when you refer a friend that opens an account and deposits funds.
Mobile Trading
Mobile trading is perhaps the most popular way to use a broker now. That is why it is imperative to offer an excellent mobile experience. Whatever type of mobile device you are using, you can download the relevant app from either the App Store or Google Play. In addition to this, you can choose which app – the MT4 or the MT5.
The significant difference between the apps is that the MT5 has more features, but they provide most of the features of the desktop version of the sites. Monitor prices on the go with real-time quotes, open, modify and close trades and also use the apps to read market news. All of the technical analysis tools are available, including charts, indicators and drawing tools to ensure that you can enjoy a complete Forex trading experience on the move.
As one of the first brokers to introduce MT4 to Australia in 2006, this broker has gone on to become one of the industry's leading Australian Forex brokers.
Deposits And Withdrawals
It is prohibited to make deposits from a third party so all payments must be made using a method in your name. Make deposits using a debit or credit card or various other electronic means.
There are no fees for either deposits or withdrawals. You should consider, however, any that may be charged by your payment provider or applicable currency conversion fees. If you make a withdrawal request before 1 pm, the withdrawal will be processed the same day. It is also worth noting that you can open an account and deposit funds in many currencies – full details of which are available on their website.
Special Features
With both the standard GO Markets account or the Go Plus+, you can choose your platform, whether it is the MT4 or MT5 version. Other brokers, however, offer specific accounts for the particular platforms.
There is an education centre on the website which consists of 10 videos, various articles and eBooks which include a trading handbook and a 34-page book on how to use the MT4 platform. Another feature is a copy trading service which is used by many traders to emulate the success of others.
Customer Support
Customer support can be contacted 24 hours a day, five days a week during regular business days – Monday to Friday. The options for contacting someone are via Instagram chat which is accessible on every page of the website via desktop and mobile.
You can also use the contact form on the website or send an email. Telephone support is also contactable through a number in Australia, the UK or internationally. They also have a strong social media presence enabling you to contact them via Facebook, Instagram, LinkedIn and other methods.
We want to help our readers in any way we can, but sometimes it's better to talk directly with your investing site to get the answers you need. For example if you have a specific query about your account you'll need to contact them in person due to security.
Alternatively, if you find that contacting your investing partner isn't working, you can contact us and we will be more than happy to try on your behalf. We have excellent working relationships with many of the sites we list and recommend.
GO Markets
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Email:
[email protected]
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Phone:
+61 385 667 680
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Address:
Level 22, 600 Bourke Street, Melbourne, VIC, 3000, Australia
Conclusion
As one of the first brokers to introduce MT4 to Australia in 2006, this broker has gone on to become one of the industry's leading Australian Forex brokers. They offer a range of tools including Autochartist, trading central analysis and MT4 Genesis to ensure that you get the most efficient trading experience. With mobile optimised website plus apps for both MT4 and MT5, be confident of an all-round excellent Forex trading.
Making a deposit or withdrawal is easy and quick. You can use various methods. Accounts are easy to open and the fact that there are only two means that you don't have to spend lots of time choosing the right one for you. In addition to this, there are several trading features and educational tools to make your time online, useful and enjoyable. With so much to offer traders, with recognised licensing and regulation, there is a lot to like about GO Markets.
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Frequently Asked Questions
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Is GO Markets legit? Will they scam me?
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GO Markets has been operating since 2006 and are licensed and regulated by ASIC, one of the industry's leading regulators. They also segregate client funds.
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Do they have a decent mobile or tablet app?
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Yes, you can choose between either the MT4 or MT5 version of the trading apps which are compatible with both iOS and Android phones.
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What bonus do they offer for new traders?
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There is no bonus for new traders which is not unusual to see. You can earn a bonus for referring a friend of AUD 100 payable when your friend opens an account.
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Can I start trading on a free demo account?
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The free demo account can be used on the MT4 and MT5 platforms and offers real-time price feeds to allow you to trade as if you are placing live trades.
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What's the min deposit and ideal trade amount?
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The minimum deposit is AUD 200 for a standard account, and the minimum lot is 0.01. As a rule, only trade 10% of your account balance at any one time.
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Risk Warning: The products offered by the companies listed on this website carry a high level of risk and can result in the loss of all your funds. You should never risk money that you cannot afford to lose.
Ad Disclosure: Some of the links that you will find on this website are advertisements for which we do receive financial gain for referring new customers.
Ben’s contributions as a freelancer to the site since 2013 are highly valued. He has a real talent particularly within short-term speculation, making many successful trades on the directions of the global financial markets.
