In this article, we will learn about Go Markets Review, i.e. the company in brief and also let you know about the spreads or commission it charges.
Alongside that, we will feed you crucial information which should help you decide whether or not you wish to avail their service. So, let us begin.
Forex is one of the trending forms of trading nowadays, and Go Markets is one of the best in delivering that service to you.
It is renowned for its incredible Trading Platforms it offers to its clients, backed by a competent customer support team.
About Go Markets & Accepted Countries
Go Markets is an Australian company which has debuted in 2006. The company headquarter is in Melbourne.
The company has earned the best Investment Trends Awards for Customer Service and Educational materials/programs in 2019.
Go Markets is regulated by the Australian Securities and Investments Commission (ASIC), and of course, it has a license from Australian Financial Services.
The major services they are offering includes Shares, Indices, Precious Metals, Commodities, and of course, Forex.
You can deal in over 350+ financial CFD instruments for all the services they are providing.
Go Markets offer two kinds of accounts, which we will learn more later – the Standard Account and the GOPlus Account.
What is fascinating is the company offers up to 500:1 leverage if you deposit 200 AUD. There are two major Trading Platforms they use – MetaTrader 4 and MetaTrader 5.
The exciting aspect here is they availed the Trading Platforms for the Desktop users, the Web browser users, and of course, the mobile phone users.
Today, the company has a significant global presence. Apart from Australia, Go Markets has its offices in London, Taipei, and Hong Kong.
Along with that, they have also expanded its reach in the Middle East and Northern Africa region. In Dubai, the company is formally known as MENA DMCC.
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Go Markets Trading Platforms
Most traders have become familiar with the modern-day Trading Platforms. So, Go Markets don’t want to stay behind in this aspect.
That is why they have tied up with prestigious companies who are into this business for a long time. Let us know about them in details:
The first one that Go Markets offers is MetaTrader 4 or simply MT4. It is a desktop application which has robust features, by which you can experience a seamless trading experience.
It is, however, a 3rd-party software that Go Markets is working in collaboration with.
The good thing is you can use it both on Mac and Windows. Now, let us take a look at some of its standout features:
- You can access over 300 trading instruments.
- With MT4, you can do Forex, Indices, and of course, Commodity trading.
- We recommend you check out all the automated features that the Trading Platform is offering.
- There are special indicators available to analyse market conditions.
You can guess it right that MT5 is an upgrade to MT4. MetaTrader 5 is also a 3rd-party software that a large chunk of Go Markets’ client does use.
The features are more advanced, and you can navigate the application better here.
Of course, all the functions are well integrated and what makes it distinctive is you can use it both in Mac and Windows computers. Let us check some of its core features:
- You will get 6 types of pending orders.
- There are 4 variations in order execution too.
- MT5 offer over 80 technical analysis objects.
- With MT5, you can get access to Expert Advisors.
- Hedging and Netting features are available to use.
- Lastly, you can perform one-click trading with MT5.
Many modern-day traders believe that trading via a web browser is also less hectic.
The belief is to some extend real, as you don’t need to download and install a piece of software; neither you need to worry about its frequent updates.
All you need is an updated browser and a stable internet connection. Of course, all the features available in MT4 or MT5 are there whenever you access your account using WebTrader.
You can CFD instruments after you analyse the price. Overall, many believe this platform works for them better.
As for Go Markets, they just want their clients to have more options to choose.
Social Trading: Myfxbook
What makes Myfxbook Auto Trade unique is, it uses the social trading community and acts as a global copy platform.
This platform has over 90,000 customers and can connect with the Standard Account that Go Markets is offering.
Creating an account for Myfxbook is easy. Log in to the official site and register. Meanwhile, here are what you can do with this Trading Platform:
- If you have a verifiable memoir of successful trades, you can Copy pre-approved traders using this platform.
- It is a web-based platform that you can access anywhere, anytime.
- You will get help from a handsome range of statistical data and accurate analysis.
- You can control the auto-copied trades with ease.
Go Markets Mobile App
There are tens of thousands of traders, who likes the fact that they can access the market using a Mobile app.
That is why Go Markets introduced its Mobile Trading app, emphasizing on the mobility factor. It is available in Android as well as iOS; so, everybody can use it.
Meanwhile, the app has got all the features that all the core Trading Platforms do provide.
Go Markets Commission or Brokerage
Let us discuss a bit about the Spreads or Commissions that the company is charging.
While it is tough to quote an exact price range for Forex trading, we have done some research on that. It usually ranges between 0.2 to 0.5 pips, if you deal on major and minor forex pairs.
Meanwhile, the trade size on the Indices will be 0.1 pips while it starts. The Spreads on precious metals and crude is variable, depending upon a ton of factors.
Of course, you can take a look at the current price from the official Go Markets’ site.
Now, there are some other commissions that the company charges – if you are using a Go Plus Account, you need to pay $3.00 per side on a standard lot.
The same $3.00 is also applicable for the swap rates if and when you buy, sell, or hold a currency pair.
Overall, our final verdict on the fees structure is mostly positive, and we believe it is competitive.
Go Markets Exposure or Leverage
Most traders look forward to the Leverage ratio that the company is offering. So, when it comes to forex pairs, Go Markets offers up to 1:500.
Experts do believe this one is competitive, so is for the share CFDs, which is up to 1:20. For the Indices, they offer up to 1:100, which is decent.
Now, you should know that the default leverage rate is 1:100, which is for all the accounts.
However, you can always choose between 1:1 and 1:500, which depends on how much account balance you have.
Payment Methods provided by Go Markets
Payments methods are an integral part of the entire trading process. Depending upon the country you are from, you can opt, whether you are Depositing or Withdrawing Funds.
Now, let us take a look at the table which states the list of payment modes:
|Bank wire transfer||International Wire Transfer (secure online client portal).|
|Mastercard & Visa|
The wire transfers can take 1-5 business days depending on the country and the bank you use.
Investment in Asset Classes or Markets by Go Markets
As mentioned before, Go Markets deals with more than 350 products. However, you can say they are mainly 6 categories:
- Currency Trading: You can trade in over 50+ currencies, that includes major, minor, and exotic currency pairs. Most renowned among them are AUD/USD, EUR/GBP and USD/CNH.
- Share CFDs: The company offers more than 200 ASX shares, 80 NYSE, and NASDAQ shares. That puts you in a position where you can trade in long and short.
- Index CFDs: With 13 Cash CFDs and 2 Futures CFDs, you can effortlessly trade long and short.
- Precious metals: Go Markets offer gold and silver CFDs trading; so, you can trader long and short.
- Commodity Trading: The company offers crude oil for commodity trading. Interestingly, you can trade in both spot and futures markets.
- Cryptocurrency Trading: Now, you can trade in Bitcoin, Ethereum, Ripple, Litecoin, and Bitcoin Cash.
GoMarkets Virtual Trading or Demo Account
Go Markets have taken a very comprehensive route to educate the traders. That is why they have engineered a robust Demo account.
Over here, you will get $50,000 virtual funds to be familiar with the whole concept.
You should, therefore, take serious initiatives to understand how to operate over 350 CFD and binary options instruments.
Along with that, try and figure out the leverages and technical analysis tools.
You will get an MT4 or MT5 account, and therefore, you should be thorough with the Trading Platforms.
Of course, you can also seek help from the customer support team for a better understanding.
Go Markets Offers or Deals
Go Markets typically provide three standard Offers & Promotions. They are as follows:
Credit Bonus: As a trader, if you fund an amount between $1,000 and $20,000, you can earn up to 30% credit bonus which you can receive in your deposit bank. Contact Go Markets support to get more information on the T&Cs of this offer.
Referral: The company offers referrals to clients. Each time when you refer someone, and he starts trading, you and your referred individual will get $100 each.
We will again ask you to consult the support team before you start referring.
Cash Rebates: If you are a trader that spends and earn a lot with the company, the company shows its gratitude by Cash Rebates.
Yes, there are eligibility criteria which you should meet, so talk to their representatives. Typically, those rebates are for trading activity and volume you are involved in.
Go Markets Regulation or Licensing
The Australian Securities and Investments Commission (ASIC) regulate Go Markets, and they also hold a license on Australian Financial Services.
They operate using 2 banks – National Australia Bank and Commonwealth Bank, and they make sure all the clients get maximum security while trading.
Go Markets Features
It is time to review some of the compelling features that the company offers:
Trading Central: You will get a fantastic view of the market using analyst support, pattern recognition indicators, and many more useful tools.
a-Quant Daily Trading Strategies: AI is everywhere. That is why the company also uses its resources to make AI-based signals, to be better in trading.
Education Centre: The Demo account is one of the best examples that how serious Go Markets is to educate traders.
There are loads of video tutorials, Forex Trading Handbook, courses, webinars and seminars available for you to get the assistance you deserve.
Autochartist: This is a Windows-only alert system for MT4 & MT5, which indicates volatility analysis. Meanwhile, the alerts are real-time.
MT4 and MT5 Genesis: It is an addon service built only for Windows users to make MT4 and MT5 better.
Virtual Private Servers (VPS): Now, you can get Fast-access servers while you are using MT4 or MT5.
News Feed: Prior to the general news, there are economic calendars and podcasts available to use.
Go Markets Account Types
You may apply for two different accounts that Go Markets is offering – Standard and GO Plus+ Accounts. To open either of the accounts, you need to pay a minimum of 200 AUD.
Let us discuss them a bit:
Standard account: Once you open the account and start trading, the first thing you will notice is there are no commissions, only spreads.
You will have the access to spreads of 1.0 pips. Along with that, you will get 0.01 lots as minimum trade size, and up to 1:500 as leverage.
You will also get 24/5 support, hedging & scalping features, and a dedicated accounts manager with the Standard Account.
Go Plus+ account: It is primarily an ECN-style account. So, all the features, which are there on the Standard account is available here as well.
The significant difference, however, it deals with the commission which is flat 3 AUD.
Go Markets Benefits
While you are getting associated with Go Markets, you will get the following benefits:
- Autochartist and Trading Central are there to assist a trader.
- On the Standard account, there are no commissions, only spreads.
- Robust trading platforms – MetaTrader 4 and MetaTrader 5.
- Zero spreads and up to 0.01 lot size.
- Go Markets has won awards for customer service.
- There is no inactivity fee.
- You can get up to 1:500 leverage.
Go Markets Cons or Drawbacks
Not much of drawbacks to mention, when it comes to Go Markets. However, we believe they should have more than two types of accounts and should allow US residents to trade.
Go Markets Trading Hours
As for forex trading, the trading hours are Monday 00:00 to Friday 24:00 (GMT+3). That is not the case for all the other services they offer. So, we can expect that to be the usual office hours.
Go Markets Customer Care or Contact Details
Go Markets is one of the best when it comes to customer support. They provide multi-language support to its clients. Now, let us know how to contact them:
- Email Support– email@example.com or firstname.lastname@example.org
- Phone number – Australia: 1800 88 55 71 / United Kingdom: +44 203 637 7618 / International: +61 3 8566 7680
- Live chat – You can initiate a chat session from the chat icon on the official site.
Go Markets Safety & Security
The Australian Privacy Act 1988 and the European Union General Data Protection Regulation (GDPR) ensures the security of Go Markets.
The Trading Platforms comes with encryptions, and Two-factor authentication while you try to log in.
Go Markets Forex Trading – Conclusion or Verdict
Go Markets is, unquestionably a brilliant prospect to consider. The spreads and commissions are sorted, the customer support is active, and clients’ reviews are mostly positive.
Thus, we also recommend you to check on them.
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