Is Go Markets a reliable broker? Discover positive reviews and negative real customers Go Markets: quality of service, reliability, regulation, trading platforms offered, withdrawals, accounts, support and attention to the customer, …
Type: ECN / Market Maker
Markets: Forex, CFDs, binary options
Minimum deposit: 200 USD
Deposit methods: card, transfer, Neteller, Skrill, BPAY, Fasapay
Platforms: MetaTrader 4, Metatrader 5
Spread: 0.5 EURUSD Pro; 1.5 in Standard
Commissions: 3.5 USD in Pro Account
What is Go Markets?
Go Markets is one of the leading Australian Forex and CFD brokers , which is regulated by the Australian ASIC . It also offers binary options, being one of the few global brokers that still offer these products.
Go Markets was established in 2006 and was one of the first to introduce MetaTrader 4 to the Australian market.
This broker offers educational services such as e-books, basic trading articles, seminars, video tutorials and webinars.
Customer service is provided through phone, email and also online form.
Go Markets open account
Opening an account with Go Markets is really easy as we will only have to enter our personal data and wait for the confirmation email to be sent to us.
Click here and open an account from 5 USD with one of the best brokers on the market
Once we confirm, we can enter the broker’s platform and we will proceed to validate our account by sending copies of our identity and residence documents, a step that is requested by all or almost all the brokers in the world.
The minimum deposit at Go Markets is 500 USD. The same can be done by transfer, card, BPAY and Paypal.
Go Markets accounts, spreads and commissions
Go Markets offers the MetaTrader 4 platform , the Ezy Trader web platform, PAMM / MAMM services and the FIX API.
This broker offers two types of account basically: the Standard Account and the Plus Account.
The instruments that can be operated on both platforms are basically the same. These include Forex and Index CFDs , Commodities and Metals.
In the Standard account the spreads will go from 1.2 pips, while in the Pro they will go from 0.4. The Plus account will charge a commission of 3 USD per lot (100,000).
The minimum to open an account in Pro is 500 USD, for the 200 of the Standard account.
Go Markets Spread Margin / Leverage Minimum size
SP500 Variable 12 USD 1 x index
DAX Variable 6 EUR index / 10
Nasdaq Variable 2.5 USD index / 10
Gold Variable 200: 1 100 ounces
Petroleum Variable 200: 1 1,000 barrels
EURUSD 0.2 500: 1 0.01
USDJPY 0.2 500: 1 0.01
GBPUSD 0.5 500: 1 0.01
AUDUSD 0.3 500: 1 0.01
Bitcoin Variable 5: 1 0.01
As we can see, the leverage of Go Markets is quite high, since this broker is not affected at all by the European regulations of ESMA as it is regulated and based outside of Europe.
Binary options at Go Markets
Go Markets is another of the brokers that have joined the binary options offer.
As a novelty, these can be operated directly from the MetaTrader 4 platform.
The typical binary options of Go Markets will have a pay-out of between 70 and 80%, and can operate from a minimum of 5 USD.
Go Markets review
This is a good broker from the Oceania-Pacific region, which offers a good variety of instruments, such as CFDs, Forex and binary options.
Before, it also offered physical gold trading but this is no longer found on the web.
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On the other hand highlight the fact that it remains one of the few global brokers that continue to provide binary options service, although I do not like these instruments. Likewise, the payouts it offers, in the order of 75%, are not too attractive in my opinion.
On the other hand, Forex spreads and trading conditions are what we could expect coming from a major Australian market broker, possibly the best in the world at the Forex level.
In addition, it must be borne in mind that it is a broker who is not affected by ESMA at all, so global traders can take advantage and use all their leverage that goes up to 500: 1.
The accounts remain the same as they were years ago, but the Pro is now called Plus and instead of requiring $ 3,000 deposit it requires 500. Likewise, the Standard lowered its minimum from 500 to 200.
The latter is a global trend of brokers due to the brutal increase in competition and therefore they are pushed more and more to lower the minimum account requirements.
Well, being an ASIC broker and with the ECN conditions that you have in your Forex accounts, it is an option to consider for those who want to venture into this market.