GO Markets is a leading online trading platform based in Australia, specializing in forex, commodities, indices, and cryptocurrencies. With a commitment to transparency and customer support, GO Markets offers traders access to popular MetaTrader 4 and MetaTrader 5 platforms.
Founded in 2006 and regulated by ASIC, it provides competitive spreads, leveraged trading, and a range of educational resources. Whether for beginners or experienced traders, GO Markets presents a secure and user-friendly gateway to diverse global markets.
An Overview of GO Markets
GO Markets is a reputable Australian-based online trading platform offering forex, commodities, indices, and cryptocurrency trading. With a strong focus on transparency and client support, GO Markets provides access to MetaTrader 4 and MetaTrader 5 trading platforms for seamless execution of trades.
Traders benefit from competitive spreads, leverage options, and a range of educational resources. Founded in 2006, GO Markets is regulated by ASIC and prioritizes security through segregated client funds.
The platform’s user-friendly interface, coupled with a variety of trading instruments, positions GO Markets as a trusted choice for both novice and experienced traders seeking diverse market exposure.
Regulation and Security of GO Markets
GO Markets is regulated by top-tier authorities like ASIC in Australia, FCA in the UK, and FSCA in South Africa. This means your funds and information are in safe hands.
To keep your data and money secure, GO Markets uses encryption technology and segregates client funds from its own. It also conducts regular audits and penetration testing. You can enable two-factor authentication on your account for an extra layer of protection.
When it comes to trading platforms, GO Markets offers MetaTrader 4 and MetaTrader 5. These are industry standards, so you get stability, customizability, and trading tools. You can access the platforms via desktop, web, and mobile.
On GO Markets, you get to trade forex, commodities, indices, shares, and cryptocurrencies like Bitcoin. They offer over 80 currency pairs, precious metals like gold and silver, major indices, etc. The product range is quite extensive for any trader’s needs.
What you Can Trade on GO Markets?
With GO Markets, you have access to a variety of markets and instruments to trade. As a trader, you can choose from over 65 currency pairs, commodities like gold and oil, stock indices, cryptocurrencies, and more.
Want to trade the major currency pairs like EUR/USD or GBP/USD? No problem. GO Markets offers tight spreads and flexible lot sizes so you can trade whatever size fits your strategy.
Are you interested in trading gold, oil, or other commodities? GO Markets has over 10 of the most popular commodities available for trading on their platforms. You can go long or short and use leverage to maximize your potential profits.
Do you prefer trading stock indices like the S&P 500 or FTSE 100? GO Markets offers several major global indices with competitive spreads and generous leverage. Indices can be a great way to gain broad market exposure or hedge your portfolio.
GO Markets was also one of the first brokers to offer cryptocurrency trading. You can trade five of the largest cryptocurrencies by market cap: Bitcoin, Ethereum, Litecoin, Ripple, and Bitcoin Cash. Cryptos are a volatile market, so GO Markets allows you to trade them with leverage to increase your exposure.
Fees of GO Markets
When it comes to fees, GO Markets keeps things simple and straightforward. As a market maker, they aim to keep costs low to attract high-volume traders.
Minimum Deposit
To open a live trading account, you’ll need to deposit at least $200 AUD. This is on the lower end compared to many other brokers and allows new traders to get started with a modest initial investment.
Payment Methods
You can fund your account through bank wire transfers, credit/debit cards (Visa and Mastercard), Skrill, Neteller, UnionPay, and Bpay. Most deposit methods are instant, so you can start trading right away. A 1% fee applies for Skrill and Neteller deposits.
Withdrawals
Withdrawals are processed within 1-2 business days and there are no fees for bank wire or credit/debit card withdrawals. You can make one free withdrawal per month. Additional withdrawals in the same month will incur a $30 AUD fee.
Demo VS Pro Account on GO Markets
| Aspects | Demo | Pro |
| Purpose | Practice and Learning | Professional Trading |
| Risk Exposure | No Real Money Risk | Real Money Trading with Leverage |
| Account Features | Limited Features and Indicators | Full Access to Tools and Features |
| Costs | No Costs or Real Spreads | Variable Spreads and Commissions |
GO Markets Customer Support
GO Markets provides customer support 24 hours a day, 5 days a week via live chat, email, and phone. Their support team is knowledgeable, responsive, and ready to help you with any questions you may have about their brokerage services or trading platforms.
Live Chat
The live chat feature on GO Markets’ website and trading platforms connects you directly with a support agent. You can expect a response within a few minutes during business hours. The agents are courteous, professional, and equipped to provide solutions or recommendations for common issues.
Email Support
If you have an in-depth question or non-urgent concern, email support is a great option. Send your email to support@gomarketsaus.com and you will receive a response within 1 business day. The email support team provides detailed, thoughtful answers and guidance to help resolve your query.
Phone Support
For time-sensitive inquiries or issues requiring an immediate response, give their phone support team a call. Agents are available 24/5 and ready to provide real-time support. Wait times to speak with an agent are typically very short. The phone number is prominently displayed on their website and trading platforms.
Is GO Markets Legit or Scam?
So, is GO Markets legit or a scam? After reviewing GO Markets in-depth, we can confidently say that GO Markets is a legitimate forex and CFD broker. Here are a few reasons why.
GO Markets is regulated by top-tier financial authorities like the Australian Securities and Investments Commission (ASIC) and the Cyprus Securities and Exchange Commission (CySEC). These regulators enforce strict rules around client funds segregation, capital requirements, and transparency. If GO Markets were a scam, they would not be regulated.
It also offers responsive 24/5 customer support via phone, email, and live chat. Their support team is knowledgeable and helpful. Scam brokers often have poor or no customer support, as they do not actually care about providing service to their clients.
Pros and Cons of GO Markets
Pros:
Regulation and Security: GO Markets is regulated by ASIC, providing a sense of security and trust for traders.
Wide Asset Range: The platform offers trading options in forex, commodities, indices, and cryptocurrencies, allowing diversification of trading strategies.
MetaTrader Platforms: Access to MetaTrader 4 and MetaTrader 5 ensures powerful tools for technical analysis, automated trading, and a user-friendly interface.
Competitive Spreads: Traders benefit from competitive spreads, enhancing cost-efficiency in trading.
Cons:
Inactivity Fees: Inactivity fees could be a concern for traders who do not frequently engage in trading activities.
Customer Support Delays: Some users have reported occasional delays in customer support response times.
Final Thought
As you’ve seen, GO Markets is a reputable and regulated forex broker where you can trade over 230 currency pairs and CFDs.Their fees are quite competitive and they offer multiple funding and withdrawal options for your convenience.
While their customer service could use some improvement based on reviews, GO Markets seems to deliver on its promises overall. If you’re looking for a broker to get started with forex trading or want to switch to a new broker, GO Markets is worth considering.
