GO Markets ReviewCategory: Reviews | Author: Trading Brokers | Date: November 17, 2022
Founded in 2006, GO Markets is a regulated broker offering a generous selection of over 600 markets for you to trade including Forex, Share CFDs, Indices, Metals and Commodities, all from one account. They provide you with powerful yet easy to use trading platforms along with a range of trading tools and dedicated educational centre for you to improve your knowledge. I find that GO Markets have very competitive trading conditions including tight spreads, low fees and quick trade execution speeds at the best available prices. In addition to this, you can choose between a variety of convenient deposit and withdrawal options whilst 24/5 customer support is on hand to assist as and when needed. I found them to have some of the best support that I have received from any broker.
Pros & Cons
- Advanced trading platforms for web, desktop and mobile apps
- Hundreds of trading instruments to choose from
- Commission free trading accounts
- Tight spreads, low fees and rapid trade execution speeds
- Free VPS for qualifying clients
- Excellent Trading Central & Autochartist analysis tools
- Copy trading signals via Myfxbook AutoTrade
- Handy MT4/5 Genesis to enhance platforms capabilities
- State of the art a-Quant trading tools
- GO Trade Academy to educate beginners
- 24-hour multilingual customer support
- Cannot accept clients from some countries
- $200 minimum deposit to open account
- No swap-free Islamic accounts
- Do not currently offer crypto trading or funding
Founded in 2006, GO Markets is a leading Australian online broker offering you access to trade a generous selection of financial instruments from multiple markets including Forex, Commodities, Stocks, Shares, Indices, Metals, Energies & CFDs.
GO Markets have an extensive range of free educational courses for beginner and advanced traders, including webinars. They also provide a selection of trading tools to help improve the overall experience including MetaTrader Genesis, Autochartist, VPS, Trading Central & more. Clients can choose between the powerful MetaTrader 4 (MT4) & MetaTrader 5 (MT5) trading platforms whilst flexible leverage of up to 1:30 is available.
From my testing, I found them to have reliable, powerful and flexible trading conditions. I like that there are accounts with raw tight spreads starting from just 0 pips, making them a great choice if you are a forex trader.
They have servers that are located in the Equinix LD4 data centres which ensures a low latency environment to execute your trades with some of the best execution speeds possible. I would compare them to competitors such as IC Markets when it comes to execution and spreads.
GO Markets maintain a client-first approach, striving to be the broker of choice for traders of all levels whilst continuously offering innovate trading technologies to clients through reliable customer service, transparent pricing, low-latency trade execution and platform stability. I like that they have a personalised, friendly and knowledgeable multilingual customer support team on hand 24/5 to help you with all your trading needs.
GO Markets is licensed by the Cyprus Securities Exchange Commission (CySec)- Licence No. 322/17 & Australia Securities and Investment Commission (ASIC), AFSL 254963. They are also regulated by the Financial Services Commission (FSC) of Mauritius, Licence No.GB 19024896 and Seychelles Financial Services Authority, Securities Dealer Licence Number SD043.
This means that they are required to abide by strict regulatory requirements with a compliance management system in place to ensure that they do so. Such stringent regulation can help to give traders peace of mind that they are using a trusted and reliable broker.
GO Markets client funds are held in segregated client trust accounts at top-tier banks where they have multiple client accounts in different currencies. This segregation ensures that client funds are separate form the company funds and therefore not used for any other purposes such as business running costs.
GO Markets accepts clients from all over the world, excluding some countries where there are certain restrictions in place such as the USA, Canada, New Zealand, Belgium and Japan. In case, you are a citizen of one of the countries they dont serve, you can find an alternative broker on our brokers comparison page.
GO Markets offer the ever popular and powerful MetaTrader 4 (MT4) and MetaTrader 5 (MT5) trading platforms which are freely available on desktop (Windows / Mac), web and mobile (iPhone / iPad / Android / Tablet).
From my perspective, the main difference between the respective MT4 & MT5 platforms is that MT4 is primarily a forex trading platform, whilst MT5 is a multi-asset CFD trading platform. If you want to trade forex only, then MT4 should do the job. If you want to diversify your portfolio now or in the future and trade stocks, then you would probably want to go for MT5. Either way, you should find it easy to scan the markets and make trades on both platforms.
MetaTrader 4 (MT4) Trading Platform
MT4 has long been the standard platform of choice for millions of traders across the globe. I like that it has an intuitive and friendly interface that makes it appealing to all traders, regardless of your skill levels. GO Markets were amongst the first online brokers to introduce MT4 to Australia way back in 2006. Since then they have gone on to improve the platform further by introduce a set of MT4 tools including MT4 Genesis. MT4 has many features that makes for a simple and convenient trading environment with built in tools to help improve trade efficiency.
MT4 is available on desktop, web and as a trading app. The web platform runs directly in most modern web browsers without the need to install any additional software. The mobile application is available for download on both Android and iOS devices from the relevant app stores. The app is useful for those who need to access their accounts and trade whilst on the go from anywhere in the world with an internet connection. The broker has a good selection of user guides and video tutorials to help you if you are new to MT4 learn more about the platform. They are easy to follow and informative, covering a variety of topics from platform features, tools and functionality.
MT4 Key Features
- Access to real time quotes of trading instruments
- The ability to trade multiple markets
- Multiple chart timeframes
- Multiple order types and one click trading
- Alert notifications via the platform, SMS and email
- Support for automated trading via expert advisors (EAs)
- Strategy tester for back testing EAs over historical data
- Wide range of built in technical indicators and graphical objects for conducting chart analysis
- MetaEditor for creating custom indicators and EAs in the MQL programming language
- MQL community and market place accessible from within the platform
MetaTrader 5 (MT5) Trading Platform
MT5 is a multi-functional, modern and comfortable platform. It is the successor to MT4 that maintains most of the key features with some additional tools for comprehensive price analysis, automated trading and copy trading. I still use MT4 myself but have tried MT5 on many occasions and find it to be one of the best trading platforms that I have used.
MT5 is a diverse and powerful trading platform with depth of market (DOM) and a separate system for the accounting of orders and trades. It has support for both order accounting systems: the traditional netting system and the hedging option system. There are 4 order execution modes that are available to meet various trading objectives: Instant, Request, Market and Exchange execution. MT5 supports all types of trade orders. You can place market, pending and stop orders, along with trailing stops.
MT5 has an impressive array of built in analytical tools for you to analyse the markets. It can support up to 100 open charts at any time. There are 21 timeframes (compared to MT4’s 9 timeframes) for you to conduct comprehensive detailed analysis of all chart price movements. More than 80+ technical indicators and analytical tools are at your disposal. You can also access thousands of additional tools from the MQL marketplace including custom indicators, EAs and signals.
Fundamental analysis is often conducted alongside technical, price action and sentiment analysis to gauge possible market movements. It commonly involves the study and analysis of economical news releases and industrial indicators. You can access the fundamental data directly within MT5 via international news report broadcasts and an economic calendar.
MT5 provides support for subscribing to trading signals that can be automatically copied to your trading account. There is a range of free and paid signals available to choose from according to your preferences. You can see past performance but it should be strongly emphasised that past performance is by no means any guarantee at all of future performance.
Automated trading is when a trading strategy is conducted automatically based on algorithms programmed into expert advisors (EAs) which are commonly referred to as trading robots. MT5 supports the development of robots in the MQL5 programming language whilst there is also a multi-currency strategy tester for back testing EAs on historical data. Back tests can be notoriously inaccurate due to factors such as spreads, slippage and commission that are not always accountant for. They are also known to be over optimised and thus can give zero guarantee of future performance.
MT5 has virtual hosting so that it can continue to operate signals and EAs on a remote server without you needing your computer switched on. I use a third-party VPS myself as that way I can run any platform remotely. GO Markets do have a free VPS option which we will discuss later.
MT5 is available for desktop (Windows / Mac) and mobile (iPhone / iPad / Android / Tablet). The MT5 mobile trading platform allows traders to enjoy the freedom of movement by having the ability to trade 24/7 from within the palm of their hands using an Android or iOS device.
MT5 Key Features
- Multi-asset CFD trading platform
- Depth of market real time price quotes
- Support for more order types
- 21 timeframes
- Over 80+ technical indicators and graphical objects
- Economic calendar
- Multi-currency strategy tester for back testing EAs
GO Markets have a good selection of trading tools that I feel can be used to help make market analysis and the overall trading experience feel more efficient. It is great that they have both Autochartist and Trading Central which are fantastic for trading signals. They are one of a few brokers who have both, Forex.com being another option.
Myfxbook Auto Trading
Myfxbook has one of the largest communities of traders online. GO Markets offer access to Myfxbook’s AutoTrade for clients with a minimum account size of at least $1,000. AutoTrade is a copy trade service that is used all over the world and mirrors trades directly into your account. You can view and choose from thousands of pre-approved trading accounts, including a broad range of statistics and analysis to ensure they fit within your requirements. It should be carefully noted that past performance is not any indication whatsoever of future performance.
GO Markets offer clients who have an account size of $500 or more, the excellent Autochartist software which provides real-time trading alerts, price action alerts, volatility analysis and event impact analysis. It is one of the most popular charting tools available for MT4 & MT5. It should be mentioned that as Autochartist is a 3rd party software, GO Markets do not guarantee the accuracy or completeness of the data. I have always found it to be a top class market analysis tool but feel that you should include your own market analysis before making any decisions.
Autochartist can automatically find trends and patterns that would usually be time consuming to find. You can receive notifications once emerging and completed chart patterns such as Triangles, Wedges, Tops and Bottoms are identified. There is even an illustrated forecast range which can give you an indication of expected price levels.
Autochartist gives you a 6-month review of the performance of the different trade setups which is good to help identify those that have worked well and those that have not. This analysis is conducted for completed chart patterns and key levels.
The Autochartist volatility analysis system provides information related to the volatility of the markets and instruments that you wish to trade. This can include the time of day at which these markets are most volatile, possible exit levels and risk parameters.
You can subscribe to Autochartist market snapshot which will give you a 24 to 48-hour outlook for your chosen markets, sent directly into your inbox.
- Automatically scan multiple instruments and markets for trends and patterns
- Conduct the complex and time consuming process of analysing charts for patterns
- Send automatic audio and visual alerts when emerging and completed patterns are identified
- Provides real time market data analysis across multiple timeframes
After 10 years of providing clients with MetaTrader, GO Markets identified a set of key add-ons to assist traders when it comes to placing trades, managing risk and identifying trading opportunities. This led to the creation of MetaTrader Genesis.
MetaTrader Genesis is an advanced add-on for the MT4 & MT5 trading platforms. It is a comprehensive and professional suite of trading tools (applied as expert advisors) that can enhance the power of your standard MetaTrader platform.
If you are an average day trader that just wants to buy and sell instruments, then it probably won’t make much difference to you compared to the tools already included in the platform by default.
You must have an account of at least $500 to gain access to Genesis and it is only available on the MT4 & MT5 desktop platforms.
MetaTrader Genesis Key Features
- Conveniently manage your trades and account within the terminal window
- Mini terminal to organise charts and access trade management tools directly from the charts
- Market sentiment indicator to gain market insight
- Correlation trader to spot potential opportunities
- Interactive session map to keep track of the London, New York, Tokyo & Sydney sessions
- Market manager window to conduct other tasks whilst keeping platform running
- Alarm manager notification tool
- Economic calendar for staying up to date with latest market news
- Correlation matrix to see the correlation coefficient between various instruments over a particular time period
GO Markets is partnered with Trading Central, offering you the pattern recognition software to enhance your overall trading experience. Trading Central is a collection of programs fully compatible with both MT4 and MT5. They offer 24-hour multi-asset coverage, sophisticated technical and fundamental analysis, and back-tested trading strategies. I would say it is up there with Autochartist as a market leader when it comes to market analysis.
The technical insight combines actionable, technical analysis on most trading instruments, to help optimise trading strategies. It features a selection of detailed, proactive analytics, educational guidance and customisable options.
The analyst views market research tool combines the experience of senior analysts with automated algorithms. The patented pattern recognition constantly monitors the market with global 24/7 coverage on over 8,000 financial instruments. You are provided with updated analysis whenever new price levels are met.
Trading Central can deliver newsletters to your inbox to help you stay up to date with the latest market movements, analysis and education. I like this feature as it means that I do not need to be scanning charts manually all day.
The alpha generation has 3 innovative indicators for MT4 & MT5 charts that are based on market psychology and can help spot potential trades and exit opportunities.
The award-winning Trading Central has a modern, sleek and user-friendly interface. It combines in depth research and powerful pattern recognition to deliver around the clock actionable ideas to traders.
As Trading Central is a 3rd party software, GO Markets do not guarantee the accuracy or completeness of the data. I think it does a great job of analysing the market but at the end of the day, you will still need to make your own trading decisions.
a-Quant Daily Trading Strategies
a-Quant is an innovative Fintech company with a team of over 25 years collective experience that has developed state-of-the-art trading products. I have been really impressed by the trading tools they have built, with GO Markets being one of the few brokers to implement them at this time.
They have a unique signal service that aggregates millions of data points from more than 12 different data sources and utilise a combination of machine learning, artificial intelligence algorithms, sentiment and technical analysis. It produces an average of around 9-12 signals on a daily basis that can be sent direct to your inbox.
As a-Quant is a 3rd party software, GO Markets do not guarantee the accuracy or completeness of the data.
Virtual Private Servers (VPS)
GO Markets offer clients a VPS where you can run the MT4 & MT5 platforms remotely 24/7 without needing your own computer switched on. This can be especially beneficial for those of you whose connection is lagging and those who need to run expert advisors around the clock.
As mentioned earlier, I have a VPS myself that I pay around $30 per month for. I am very happy with it and have been using it to run multiple trading platforms and different broker accounts for testing over many years now.
The GO Markets VPS solution provides you with direct access to market liquidity as it is physically located close to where the majority of transactions are conducted.
If you have a minimum trading volume of approximately 5 round turn lots per month then you can apply for a free VPS subscription. If the monthly volume is not met then a service fee starting from $10 will be charged. This isn’t too bad considering a decent VPS usually cost around $20 minimum.
You can also get access to a free VPS from some other brokers, including Axi.
GO Markets have a dedicated education centre that has a selection of options to help you improve your trading knowledge whatever your current level of expertise. The GO Markets education brings together quality learning resources, provided free of charge. I found there was a great choice of programs, webinars, analysis and more – all helping to guide you to the best possible online trading experience. If you are new to trading, Admirals also have lots of free educational resources to help you learn more about the markets.
GO Trade Academy
The GO Trade Academy gives you free access to high quality, content-rich learning for all levels of trader from GO Markets. It contains content-rich and comprehensive education courses and programs, for new and experienced traders alike. They are aimed at contributing towards your trading knowledge, skills, and boost your confidence when it comes to trading Forex and CFDs. I feel that this emphasises the fact the GO Markets are a brokerage firm that have client’s best interests in mind and support you making informed trading decisions.
The GO Trade Academy implements a unique learning management system that tracks your progress through courses and tests your knowledge throughout to help reinforce what you have learned. All of the courses have additional support through access to demo trading platforms, account and platform assistance, along with group coaching webinar sessions.
GO Markets also provide a decent selection of video tutorials for the MT4 trading platform. I think a demo account is the best way to learn the platform as you gain hands on experience and it doesn’t cost anything.
Educational Courses & Webinars
GO Markets offer educational courses that can help you to learn about trading and progress through the beginners, intermediate and advanced courses.
The Inner Circle is a group coaching program that is designed to provide on-going weekly education and market reviews to increase your knowledge and confidence whilst enabling you to connect with other traders.
The courses can be individually tailored, allowing you to share feedback and suggestions as you progress through the modules including the topics that you wish to learn more about. I found them to be very comprehensive although professional traders might not learn anything new.
GO Markets have a section on their website dedicated to the latest market news. It is frequently updated by expert analysis, covering multiple markets with detailed analysis. It is handy to have all this information in once place but it is not as comprehensive as the market analysis from ActivTrades.
The GO Markets economic calendar displays the latest economic releases along with the date/time, country, impact rating and previous/forecasted/actual results. The calendar can be filtered according to your preferences and I think that it is an important tool to use as part of a fundamental analysis.
You can trade a wide range of products all from one account with more than 600+ instruments available in multiple asset classes including Forex, Share CFDs, Indices, Metals and Commodities. This is a generous selection but not quite on par with IG who have over 17,000 global markets to choose from and TMGM with a great selection of more than 15,000 trading instruments.
I couldn’t find any cryptos to trade which was disappointing. If you want to trade cryptos, then I would consider XTB as an option. You can also check out our best crypto brokers for other alternatives.
The foreign exchange (forex) market is the world’s most liquid and traded financial market. It allows traders to speculate on the differing prices between 2 currency pairs such as the EURUSD or GBPUSD. I found around 50+ major, minor and exotic forex currency pairs to trade. The majors had tight spreads comparable with Pepperstone, one of my top forex brokers.
Trading Share CFDs
Share contract for difference (CFDs) create opportunities on the open market by enabling traders to trade both long (buy) and short (sell). You can trade share CFDs with margin requirements from 5% via the powerful MetaTrader 5 platform.
Metals trading remains a popular market amongst many traders. You can trade metals including gold and silver with competitive spreads and low margin requirements.
Trading commodities is commonly seen as a more traditional format of trading in the economic sector and still remains very popular. I found them to have a decent selection of soft and hard commodities for trading effectively and efficiently online.
Trading index CFDs enables you to speculate on the movement of an underlying assets price without having to actually physically own it. You can access a wide range of index CFDs via the MT4 & MT5 trading platforms. Indices offered include FTSE 100, CAC 40, US 500, ASX 200. If you want more choice, AvaTrade are an alternative option who have a great range of index funds available.
GO Markets currently offer 2 account options which are the standard and GO Plus accounts. The primary difference between the accounts is that the standard is commission free with higher spreads whereas the Plus account charges a commission of $3 per side per standard lot ($6 round turn), but has tighter spreads.
Both accounts also come with a dedicated account manager who can help you get setup if need be. The minimum deposit is $200 which is higher than many other brokers I have tried. If you want to make a small investment just to get a feel for trading online, Fusion Markets have a minimum deposit requirement of just $1.
Unfortunatly, they dont have any swap-free Islamic accounts for Muslim traders. If you are a Muslim trader, FP Markets have swap-free accounts.
The GO Markets standard account is spread based with no commission charged. This does mean that spreads will tend to be higher, starting at 1.0 pips and aggregated from 22+ liquidity providers. The minimum initial deposit on this account is $200. This account is likely to be preferable if your trading strategy does not rely on tight spreads and you are holding trades for weeks or months at a time.
The GO Markets Plus account offers raw spreads from 0 pips with a competitive commission of $6 charged per lot per round turn. The minimum initial deposit requirement on this account is also $200. This account is most likely to be preferred if your strategy requires tight spreads. As someone who like to place scalping trades, this would be my account of choice.
Demo accounts are available if you want to test the different trading platforms and conditions before opening a real account. I would always start on a demo account before committing real funds. I just think that it lets me get a good feel of a broker to see if they are suitable for my trading style. Regardless, I think GO Markets is a good broker for all types of trader.
The multilingual team at GO Markets are happy to help traders 24 hours a day, Monday through to Friday. Whether you need to contact them for platform support, customer support, trading hours, funding your accounts or opening a new account, the friendly team is there to assist. You can find the various contact details on the brokers website to reach them via online chat, telephone and email. If you dedicated your weekend to trading, you can get 24/7 support with other brokers including EXANTE.
GO Markets have a variety of convenient methods for depositing and withdrawing funds from your trading account. This includes bank wire, credit card and online payment systems such as Neteller and Skrill. I like the digital payment options as it means I get my funds quicker which is important to me as sometimes I want to act quickly on some unexpected market news.
Some payment systems may have transaction limits, restrictions, and requirements which are indicated on their respective websites. You may need to verify your account to remove limits on particular methods in some countries. They use 3D Secure which provides extra protection for online payments.
GO Markets have no deposit fees using Visa/Mastercard, Skrill, Neteller and Bank Transfer, so you can fund your live account with no transaction fees. Make sure you keep in mind that some methods may only be available to specific countries and not all are available for both deposit and withdrawal. You should check to see if your preferred method of funding is available in your country before you open an account.
Whilst they do not charge any internal fees for withdrawals, fund withdrawals to non-Australian banking institutions could be subject to bank fees from any intermediary bank involved in the transaction and may attract a receiving fee from your bank/institution. You will need to account for these fees when making withdrawals.
Withdrawals that are received prior to 1pm AEST will be processed on that same day. If you send a request that is received after that time may not be processed until the next business day.
They do not accept third-party payments and your funds can only be returned to a bank account in the same name (or joint) as your GO Markets account due to third party transaction regulations.
Accounts can be opened in a good range of currencies including AUD, USD, EUR, GBP, NZD, CAD, SGD, CHF, HKD. The different currency options are beneficial as currency conversion fees do not apply when using an account in your own currency.
I am impressed by the variety of funding options but think it would be better if they could accept cryptocurrency. If this also matters to you, you can consider Hankotrade. They are one of the few brokers I have come across that support crypto funding.
I think that GO Markets is a very well established and regulated broker with a good range of trading instruments across multiple markets. You can trade from a choice of user-friendly trading platforms on your computer and mobile devices. I like that they have tight spreads and offer commission free trading if this is something you are looking for.
I found them to have an impressive selection of trading tools for analysing the charts and sending you trading signals. If you are new to trading, you will probably enjoy the dedicated educational centre. If that isn’t enough, they also have a good selection of convenient funding options along with a customer support team who were quick to get back to me.
Despite the positives, I feel they could start accepting cryptos and also expand on their individual stocks. The minimum deposit could also be lower and leverage is restricted due to regulations. None the less, I wouldn’t hesitate to use them for day trading or even investing in the long term.