Reviewing Go Markets – Can this broker be trusted?
As the Forex trading market continues to develop and grow around the world, the demand for high-quality services increases as well. There are many brokers available in the market, but knowing which one to use can be quite hard.
Go Markets is a Forex broker with over a decade of experience in the market. Established in 2006, it has quickly become one of the leading brokers around the world. Initially offering services to only Australian traders, the company has quickly transformed into an international player, attracting retail traders from all different parts of the world.
In fact, the broker is known for being one of the first companies in Australia to offer MetaTrader 4 trading platform, gaining an amazing reputation among local traders of the country.
In today’s Go Markets review, we are going to go through all the details that distinguish this broker from the others. So, without further ado, let’s get into it and find out what are the actual offerings of the broker.
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Go Markets – A Quick Overview
Being established so many years ago, Go Markets is a broker that has managed to survive the ever-changing market of Forex trading. The broker was created by a team of professionals, with years of experience in the market.
While it was initially established in Australia, as we have already noted, it has since grown all around the world. Go Markets has managed to open services all around the world, including cities like London, Taipei, and Hong Kong.
Having such a huge representation around the world allows the broker to offer traders from all different parts of the world to use its services. A very exciting announcement made a few years ago by the broker was that it was noted to have planned to work on expansion in other parts of the world, including the Middle East, Africa, and many others.
Over the years, Go Markets Group has been named as one of the leading brokers in the industry by awards across the globe. Among many recognitions, it has received an award for providing the Best Customer Service and Best Educational Material in Australia.
Reviewing Go Markets – A Regulated Broker
When it comes to choosing the best Forex broker, there are many things that you should be focused on. Among those things is the regulatory status of the broker. Regulations mean safety and security, and they should never be forgotten by traders.
While reviewing Go Markets, we have found out that the broker is regulated and licensed in several jurisdictions to ensure they are able to attract traders from all different backgrounds. As an Australian brokerage, it is of course licensed by the Australian Securities and Investment Commission, ASIC.
To be able to offer services to other countries around the world, it is also licensed by the Financial Services Commission, FSC, of Mauritius. Being regulated in different jurisdictions makes the brokerage a safe option for individuals.
ASIC has recently updated its regulatory framework, making the market safer and more secure. The new wave of regulations adopted by the Australian regulator aims at making the market more fair and transparent. Among the new regulations is the limitation on leverage, which was reduced to 1:30.
Being regulated by ASIC is a very important factor, which can be viewed as an additional layer of protection for individuals.
Account Types of Go Markets Reviewed
Getting started with a new Forex broker can be quite overwhelming, but this process is made easier by Go Markets. There are two major account types offered by the broker, they are:
- Standard Account
- GO Plus+
A standard account is a great option for a beginner, as well as experienced traders. While this is not the best option for highly-skilled traders, regular retail Forex traders should not have an issue with using this account.
Standard Account of Go Markets offers its clients access to numerous great trading opportunities. The minimum deposit to open this account is 200 Australian dollars, and traders will gain access to over 600 tradable products with this account type.
The commissions for trading are very low, and it allows traders to use their funds at their maximum. The spreads of the broker are also very low, starting from just 1.1 pips. The account types come with 9 different base currencies, making trading easier for everyone.
While reviewing Go Markets and its account types, we found that GO Plus+ can be an amazing option for experienced traders with a good understanding of the market. This account comes with numerous powerful trading solutions and low commissions which can be a great choice for very active traders.
The spreads with this account are raw and start from as low as 0 pips. The commissions are very low as well, only 3 Australian dollars per side on a standard lot. Also, the clients of the broker can also start trading with this account by depositing as low as just 200 Australian dollars.
This account also comes with a special, dedicated account manager, which is tailored to your individual needs. The help of experienced account managers can be very helpful for traders. Just like the standard account, this account also supports 9 different base currencies.
When you are just getting started in the Forex trading market, you should make sure that you are focused on increasing your knowledge and understanding of the market. One of the best options for traders to learn more about Forex trading is to use a demo account.
The demo account of Go Markets’ demo account is that it can be opened in a matter of a few minutes and it gives you access to the actual trading market without having to spend any money on your own.
The broker provides traders and the owners of demo accounts with a certain amount of virtual cash, which can be used for actual trading purposes. If you run out of virtual cash, you can always contact the customer support team directly and ask them for more.
A very common misconception about demo accounts is that it is only good for beginner traders, but that is not the truth at all. In fact, a demo account can be an amazing choice for experienced traders, as they can use it to test out different types of strategies and see which one works better in different market conditions and be ready for the future.
Available assets & tools of Go Markets Reviewed
To ensure that traders of all interests are able to start trading with Go Markets, the broker has decided to offer them a wide range of trading assets. In total, there are more than 600 trading assets available on the broker.
Among the trading assets available on Go Markets are those like Forex, Share CFDs, Indices, Metals, and Commodities. This creates a lot of trading opportunities for individuals and can be very helpful. There are over 50 Forex currency pairs available on the broker, with as much as over 200 ASX shares, more than 80 top US shares, and many others.
Among the assets available on the broker, the most popular one is Forex currency pairs. Being the most liquid and highly-traded financial market, Forex trading is very popular among both novice and seasoned traders. There are numerous trading tools available at Go Markets, which makes trading with Go Markets a lot easier and more reliable.
As for the leverage, the broker allows clients to use leverage up to 1:500. However, it should be noted that the leverage available for you depends on different factors. For example, if you are a trader from Australia or the EU, you won’t be able to receive leverage that is more than 1:30.
While leverage is a great tool to use for increasing profits made from Forex trading, it can also increase the risks associated with the market. If you are using leverage without understanding how it actually works, you are risking losing more money than you can afford. So, it is always very important to understand how leverage works before you decide to use it.
Reviewing Go Markets Platforms
Go Markets is one of the leading service providers in Australia, providing local traders great services. It was one of the first Forex brokers in the country to offer traders MetaTrader 4, which is one of the best trading platforms available around the world.
Among the trading platforms available on Go Markets are the following:
- MetaTrader 4
- MetaTrader 5
- Mobile Platform
- Social Trading Platform
Because there are so many trading platforms options available on Go Markets, it is very easy for individual traders to find something that fits their individual needs.
MT4 has long been considered a standard of what a Forex trading platform should be. Go Markets has been offering this trading platform since its establishment in 2006. The broker offers traders additional tools that do not usually come with MT4, making it even more helpful for traders.
MetaTrader 5 was created by the same company that released MT4. MetaQuotes, which is a Russian company, released MT5 in 2010. This is a great platform for those who want to trade different types of assets, including shares, indices, metals, commodities, and so on. MT5 is a multi-asset platform and helps traders make the most out of their trading activities.
Both MT4 and MT5 offer traders numerous trading indicators, created to ensure individuals have access to in-depth market analysis and a variety of information to make correct market decisions.
WebTrader of Go Markets
While reviewing Go Markets, we were glad to find out that the broker offers its clients a browser-based trading platform. The WebTrader of Go Markets is based in MetaTrader 4 and MetaTrader 5 and traders do not have to open separate accounts for web trading.
This is a great option for those who do not want to download additional applications to their computers and prefer to make profits from trading using their browsers. The WebTrader of Go markets is available on all browsers and it is very easy and simple to use, featuring the same template and design as MetaTrader.
It also lets traders analyze the price movements in the market. Put simply, this trading platform works just like the others and allows traders to make the most out of their trading activities.
Social Trading Offered by Go Markets
Among many other services offered by Go Markets is the social trading capabilities, which is an amazing offering for Forex traders to trade even without having any prior experience in the financial markets.
It is a great automated trading offering, which allows traders to follow the steps taken by well-experienced and professional investors and make profits. If you are a beginner with no prior experience in the market but still want to make profits from Forex trading, you can use social trading to make some money.
For social trading, Go Markets offers access to Myfxbook AutoTrade, which is one of the best automated trading software available in the industry.
Mobile Trading of Go Markets Review
Among many other services offered by Go Markets is the mobile trading platform, which has become very popular over the past few years. The mobile trading platform of Go Markets is available through iOS as well as Android devices and can be very useful for Forex traders.
It is especially helpful for those who are always on the go and want to have access to the market even when they are away from their computers. By using a mobile trading platform, you can be sure that you will be able to make profits in the market even if you are away from your computer.
Bonuses & Promotions of Go Markets
While some traders like to enjoy different types of bonuses and promotions, recently, it has become very common for regulatory agencies to require brokers to not offer traders bonuses and promotions.
The main idea behind this is to make sure that people with inadequate experience start trading in the market and lose their funds. Go Markets, in celebration of its 15 years, offered traders a special trading credit bonus to get 30 percent of their deposits.
The bonus only applies to deposits from $500 to $25,000. Once you do so, you will receive 30 percent of your deposit back as a credit bonus, which you will be able to use for trading. The bonus will be available for traders from January 1, 2022, to February 28, 2022.
Account Creation – How Does it Work?
One of the biggest advantages of trading with Go Markets is that it offers traders a very easy process of getting started. It should not take you more than a few minutes to create a live trading account with the broker.
First, you will have to decide which account type works best for you. Then, go on the Sign Up section from the website of the Forex broker, provide personal information about yourself, including your first name, your last name, your location, etc.
After you provide this basic information about yourself, you will also be required to complete the Know Your Customer requirements questionnaire. This will include you providing the broker with a copy of your official documentation. After you verify your information, you will be able to deposit funds and start trading with the Forex broker.
Partnerships & Unique Aspects of Go Markets
Since Go Markets has been around for such a long time, it has managed to offer very well-developed services. One of the offerings of the broker is the introducing brokers and Forex partnerships program.
By joining the IB program, you will have access to attractive trailing commissions, flexible terms, monthly reporting, and access to our IB dashboard, and many others.
It also offers an affiliate program and While Labeling, which allows other brokerages to be built on the basis of the broker. This can be a great offering for those who want to start a broker but are having a hard time doing so on their own.
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Learn More About Forex with Go Markets
One of the biggest advantages of Go Markets is that it offers traders access to numerous learning opportunities. The educational material of the Forex broker is full of detailed information about the market and lets individuals grow as traders. It includes a step-by-step guide to Forex trading, starting from very basics to complex topics.
Pros & Cons of Go Markets
As a leading Forex broker of Australia, there are numerous advantages that Go Markets come with. However, at the same time, there are some disadvantages associated with the broker. We will go through the pros and cons of the broker below in our Go Markets review.
- Over 600 available trading assets;
- Access to leading Forex trading platforms;
- Regulated & licensed;
- A very long experience in the Forex trading market;
- Low initial deposit for maximum comfort.
- Not available in the US
- Only 2 account types
Customer Support of Go Markets
The customer support team of Go Markets is very helpful and is able to provide clients with help 24 hours a day 5 days a week. You can either contact the customer support team using a special phone number, use an email, live chat, or a special online form to get the help you might need. We used all the different options available at Go Markets and we were pleased to find out how helpful they could be.
FAQs on Go Markets
Is Go Markets a good broker?
Yes, Go Markets is a very good Forex broker. With years of experience in the market, the broker has managed to become one of the leading providers in the market. The broker was established many years ago, back in 2006, and since then, it has managed to become very popular around the world. The broker is known for providing traders with very competitive services, ensuring that anyone can find something that fits their personal needs in the Forex trading market.
What is the minimum deposit at Go Markets?
The minimum deposit to start trading at Go Markets is just 200 Australian dollars. This is a very normal minimum deposit requirement for the market, as the majority of the Forex brokers allow a minimum deposit near this price. The minimum deposit at Go Markets applies to both of the available trading accounts.
Is Go Markets a good broker for beginners?
Yes, Go Markets is a very good Forex broker for beginners. This brokerage can be a great fit for those who do not have much experience in the market. You can use the extensive educational material of the broker to learn more about the market and grow as a trader. The broker also offers traders a demo account, which can be used for further learning and growing by Forex traders.
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