GO Markets review (2021) Review
The broker was established in 2006. The broker’s head office is located at Level 22, 600 Bourke Street, Melbourne, VIC 3000, Australia. The official website is located on the domain https://www.gomarkets.com.au/. The resource is available in two languages:
The choice of Chinese as a second language for the service is justified by the large number of users from this region. Perhaps this is due to the fact that Australia and the PRC are located approximately in the same time zone, so it is more convenient for residents of China to use this broker.
GO Markets is offering up to 500: 1 leverage to trade over 350 financial CFDs covering Forex, stocks, indices, metals, and commodities.
The main document governing the operation of the service is license number ACN081864039, issued by the ASIC organization (Australia). The broker’s official website contains information on the control of its activities, as shown in the screenshot below.
The company also has its own rules for using the service, the observance of which is mandatory for clients and the broker’s administration. You can get acquainted with them at the link https://www.gomarkets.com.au/company-profile/legal-documents/.
You can choose between Metatrader 4 (MT4) and Metatrader 5 (MT5) platforms. While most brokers prefer to offer a basic MT4 package, Go Markets offers a richer version, with functionality like removable windows. There is also a version of the platform for Mac computers. Both MT4 and MT5 platforms are packed with news from Dow Jones and – of course – everything else you are used to seeing on those platforms.
The broker allows you to work with a large number of financial and stock assets. Among currency pairs:
EUR / USD;
USD / JPY;
GBP / USD;
USD / CAD;
AUD / USD, etc.
There are also more exotic options. In addition to standard currency pairs, trading in binary options, indices, precious metals is available. One of the most relevant and new opportunities is the trading of Bitcoin and Ethereum cryptocurrencies.
Broker GO Markets offers to try your hand at trading on a trial virtual version of the trading account. The demo account is provided for a 30-day period. After that, you can continue working on a real account or terminate further cooperation. In order to create a demo account, you need to fill in the form with your full name, e-mail, phone number and password. After you should choose platform, account type and currency.
And if you still decide to create a trading account, then you will have 3 types of accounts:
- Standard (STANDART). It allows you to trade without commissions, but with a maximum spread of 1.1 pips. To get started, you need to replenish the deposit for $ 200;
- Professional (PRO). A commission of AUD 3.5 is charged per trade. The spread is 0.1 pips. The deposit starts from $ 1000;
- Special (PLUS +). Top-ups must be at least US $ 500 or AUD 10,000. The commission is $ 3 per trade. There are no spreads. Additional advantages are: an individual manager-consultant and synchronization of the trading terminal with the Autochartist program.
Several options are available to replenish the deposit:
VISA / MasterCard;
Advantages and disadvantages of GO Markets
- Low spreads starting from 0 pips. On some financial assets, a trader will be able to pay a minimum commission.
- Fast order execution. Platforms run smoothly and avoid slippage.
- Client funds are always held in separate segregated accounts.
- GO Markets deposits and withdrawals are commission-free. A trader can use a plastic card or digital wallet.
- There is no negative balance protection policy, but there is a margin requirement policy for security.
Pros / Cons