July 11, 2020

Go Markets Review – Is Go Markets Scam?

go-markets

Regulators: ASIC

Cryptocurrencies: YES

Minimum Deposit: 200 AUD

Maximum Leverage: 1:500

Spreads: Low

My Score: 7.5

Hello everyone else. I can present one to Go Markets within this report. GO Markets has been created in Australia in 2006 as a provider of internet CFD trading products and services.

For more than ten years, since the business and customers’ expectations keep evolving, they have positioned themselves firmly as a trusted and leading Australian regulated broker.

In this Go Markets review, you will have all the information about the broker. Here are the questions that you will find the answers in this review.

Is Go Markets a scam or reliable forex broker? How good are the trading conditions such as spreads, leverage, minimum deposit offered by the broker?

What kind of account types does Go Markets offer? Is Go Markets regulated or not? You will able to find the answers relevant sections.

go-markets-review

Regulation and Licenses

The most important issue about a forex broker is reliability. If a broker has licenses to protect investor’s funds, it is considered as a reliable broker.

GO Markets is licensed by the Australia Securities and Investment Commission (ASIC). The license number is AFSL 254963. The company behind the broker is GO Markets Pty Ltd.

ASIC is Australia’s corporate, marketplaces and financial services regulator. ASIC contributes to Australia’s economic reputation and well being by ensuring that Australia’s financial marketplaces are fair and transparent, and supported by confident and informed investors and consumers.

ASIC’s priorities include promoting investor and financial consumer confidence and trust. Obtaining an ASIC license is not as easy as it seems. ASIC requires some stringent rules to forex brokers who want to provide assurance to their customers.

For example, all ASIC regulated Forex brokers must hold a minimum net capital AUD 1,000,000 to protect investors from bankruptcy or unexpected events.

ASIC ensures that all brokers can guarantee the safety of their client’s capital by keeping the capital in segregated accounts at the top banks of Australia.

Account Types and Spreads

There are just two accounts forms in Go Markets. All these are Standard and Go Plus accounts. There’s also a demo account.

Standard account has 200 AUD minimum deposit. Spreads are out of 1.0 pip. The leverage is left up to 500:1. Minimum trade size is 0.01 lots. Available foundation monies include AUD, USD, EUR, GBP, NZD, CAD, SGD, CHF, HKD. There’s not any commission for this particular account type.

Go Plus accounts features 500 AUD minimum deposit. The leverage is left up to 500:1. Spreads are 0.0 pips 3 A$ commission each side. There’s free VPS. Available foundation monies include AUD, USD, EUR, GBP, NZD, CAD, SGD, CHF, HKD.

The spreads along with also other gambling requirements are all good. This broker will probably be worth trading. The minimum deposit requirement is so non-refundable. It’s quite valuable to get for this specific corporation.

Account Type Spreads Minimum Deposit Leverage
Go Plus 0.0 Indicator 3 AUD each side on a normal bunch. 500 AUD 1:500
Standard 1.0 Stocks no more commission 100 AUD 1:500

Trading Instruments

There are many different trading tools including forex, CFDs and gold and silver, commodities, and indices. The implementation is fast and you’ll be able to dictate with over 50 forex trading currencies.

Traders may also diversify their current portfolios using over 250 tools including Forex, Commodities, Indices, Cryptocurrency plus much more.

Trading Platforms

Go Markets provides two trading platforms. These would be definitely the most widely used trading platform MetaTrader 4 along with its own new variant MetaTrader 5.

The MetaTrader 4 (MT4) trading platform is definitely considered the standard for Forex traders all over the world. MT4 may be utilised in Mac and Windows, mobile phones and Web browsers.

Combining simplicity with rate and also a complete assortment of features that will assist you to obtain a border together with your trading, our MetaTrader 4 Mac and Windows applications comprises:

  • Access to over 250 trading tools
  • The capability to trade Forex, Indices & Commodities
  • Full usage of Expert Advisors (EAs) to automate your own trading
  • Built-in indicators to jumpstart marketplace moves
  • Mobile trading strategies for a variety of smart-phones

The MetaTrader 5 (MT5) trading platform lets you benefit from freedom of movement into its entire scope and keep busy whilst trading out of tablets and smartphones. By deciding on the most suitable way from various options, you are able to trade 24 hours every day!

GO Markets MT5 Trading Platform Features:

  • 250 Trading Instruments such as Forex, Shares, Indices, Metals and Commodities, supplied as CFDs.
  • Full EA Functionality
  • One-Click Trading
  • All Order Types Supported
  • Over 80 Technical Analysis Objects
  • Market Depth of Latest Price Quotes
  • Hedging Allowed

Payment Methods

Go Markets withdrawal and deposit approaches allow it to be easy to transfer your cash out of place to place.

Deposits, withdrawals, and internal transfers may be achieved by the Client Portal. It is possible to deposit and withdraw via fasapay, Neteller, bank wire transfer, Poli, BPay, Skrill, and charge/bank card.

go marketplaces con

Note that GO Markets tend not to bill some internal deposit fees using Visa/Mastercard, Skrill, Neteller and Bank Transfer.

Withdrawal forms received before 1 pm AEST is likely to soon be processed that equal moment. Any forms received following that period might well not be processed before the upcoming available weekday.

Funds can only be returned into a banking account at precisely the equal name (or combined ) as the GO Markets accounts because of alternative party deal regulations.

GO Markets usually do not bill any internal penalties for withdrawals, but finance withdrawals to non-Australian finance associations might be susceptible to bank penalties from any bank included in the deal and could entice a receiving commission from the bank/institution. You ought to take into account these fees when creating refunds of a little quantity.

Conclusion

Go Markets is a regulated forex broker. It’s years of adventures operating from the online trading market. It’s a trustworthy and respectable firm.

The broker was offering many different trading services and products together with good trading requirements. Additionally, it offers MetaTrader trading platforms.

Go Markets is comparable with Infinox for several attributes. It is also possible to browse my Infinox review to compare both of these forex brokers.

Go Markets

6.9

Trust

7.0/10

Commissions and charges

6.0/10

Customer Service

8.0/10

Platform & Tools

7.5/10

Product Portfolio

6.0/10

Pros

  • ASIC Regulated
  • MetaTrader Support
  • Various Products
  • Good Trading Conditions

Cons

  • No Islamic Account