GO Markets is an Australian Forex broker founded in 2006. GO Markets offers trading in a variety of asset classes including currencies, stocks, indices and commodities.
history of the company
GO Markets is the trade name of GO Markets Pty Ltd, registered in Australia (AFSL 254963).
There was also a broker GO Markets UK who previously operated in the UK under a licensing agreement with GO IP Pty Ltd in Australia. However, GO Markets UK now operates under the Infinox brand. We have not found any confirmation that Infinox and GO Markets are related or related to the same company.
Little is known about the history of the Australian company GO Markets. But the terms of trade are described in detail.
Got Markets is licensed by Australia's sole regulator. ASIC monitors all activities of the financial market, as well as businesses and companies in Australia. The regulator has the right to audit any money transfer, regardless of whether they are commercial, investment or social. ASIC has repeatedly brought unscrupulous brokers to the surface. The regulator can influence the broker with fines or a ban on conducting financial activities, and even for life. Nevertheless, the level of confidence in ASICs is average. In the worst case, the regulator will not return the money to traders, will not have time to collect it from fraudsters, and will not prevent fraud. Therefore, if you are ready to invest large sums, we advise you to pay attention to brokers who work under the clear guidance of more stringent regulators, such as CySEC.
GO Markets offers a Standard Account and a Go Plus Account. The main difference between these accounts is the size of the spread and the deposit. Like many popular brokers, the company offers commission and commission free trading.
Trading starts with a $ 200 deposit on a standard account. $ 500 will have to be invested by traders who open a Go Plus account.
Spreads and commissions
Like most brokers, GO Markets takes a commission on the spread, which is the difference between the buy and sell price of the instrument.
GO Markets lists minimum spreads on its website. So, for the popular EUR / USD pair, the spread is 0.1 pips.
The commission is $ 3 per lot.
If you are interested in trading on a standard account without commission, then spreads start from 1 pip.
Leverage on both accounts is offered up to 1: 500. Such leverage will certainly help you increase your deposit if you trade correctly, but, nevertheless, if you stumble, you risk losing everything. It is for this reason that, trying to secure the investments of clients, many regulators now limit the amount of the deposit to controlled brokers. For example, up to 1:50. Therefore, as practice shows, traders more often lose than earn by trading with leverage. We advise you to use leverage wisely.
GO Markets is one of the few brokers to offer both MetaTrader platforms: MetaTrader4 and MetaTrader5. These are the two most famous terminals in the world from the software company MetaQuotes. MT5 is the latest version of the terminal to replace MT4. To ensure that as many traders as possible trade on MT5, MetaQuotes announced that it will no longer release updates for MT4. Although MT4 is still more popular than its new version, the reason for this is the million EAs that cannot be transferred from MT4 to MT5.
Let's take a look at what options each platform offers.
Access to over 250 trading instruments Forex, indices and commodity trading Using Expert Advisors Built-in indicators for analyzing market movements Mobile trading systems
More than 250 built-in indicators One-click trading All order types are supported More than 80 tools for technical analysis Up-to-date market quotes Separate order and deal accounting system
GO Markets allows expert advisor trading, hedging, scalping. In addition, the broker provides free VPS for MT4 and MT5 to clients whose minimum trading volume reaches $ 1 million per month. Other traders are charged a commission of $ 10 per month.
The broker introduces social trading from Myfxbook, where some traders can successfully copy the trades of other traders. Myfxbook also provides its users with a wide range of statistics and analysis.
Moreover, Go Markets conducts online seminars in Chinese.
GO Markets supports a wide range of languages including English, Polish, Portuguese, Vietnamese, Korean, Thai, Chinese, Spanish, Italian.
Contact methods: phone number, email, feedback form. I would like to see brokers provide support using modern instant messengers or the worldwide popular Skype. So far, we see a standard set of communication methods at GO Markets, which is also pretty good.
Ways of payment
Funds can be deposited using fasapay, NETELLER, POLi, BPAY, SKRILL, bank transfer, VISA / MASTERCARD credit cards.
Criticism of traders
Traders note profitable swaps and spreads. At the same time, when approaching the leverage border, there were problems with replenishment of funds. And also
traders point out that the broker is not suitable for scalping.
the broker has been working on the market for over 10 years; MT4 and MT5; social trading; choice of payment methods.
high deposit; small selection of currency pairs for trading.
GOMARKETS is a brokerage company whose task is to provide intermediary services to traders. Brokers provide access to currency trading in the first place. Many of them also provide an opportunity to transact with company stocks, bonds, commodities, precious metals, indices, cryptocurrencies and other assets. A private person can make transactions with all these instruments only on the trading platform, which the broker provides access to.
In addition, thanks to the brokerage company, an individual can operate on the market with amounts that significantly exceed the size of their own funds. This is called providing leverage. For example, having a deposit of 1,000 USD with a 1: 400 leverage, a trader can make deals for 400,000 USD.
The broker also opens access to analytics, auxiliary tools, and trading signals. Modern trading is impossible without all this.
The broker GOMARKETS makes profit from traders' transactions, as a rule, in two main ways.
The first is the most common. Using spreads. This word refers to the difference between the best prices for buying and selling a particular asset at a particular moment. Moreover, in a transaction between a trader and a broker, the price is one, and between a broker and users of the Forex market - another. The mediator takes the difference for himself.
The second way is easier to understand. This is the collection of a commission for each transaction performed. Most often it has a standard value, but it can be measured as a percentage.
Thus, the brokerage company is interested in attracting as many clients as possible and for them to conduct active trading.
We have found out how honest brokers should work and how they work. Now let's look at how scammers operate, they are also called the kitchen.
The most common way to cheat is to tweak quotes. The broker provides the trader with quotes that differ from the real market ones. Data substitution occurs in order to make operations unprofitable. The deposit is reduced, and then completely zeroed out. At the same time, the trader thinks that his operations were carried out in the market, but in fact - only on the site of scammers.
Bonuses are traps. They are generously distributed for anything: for registration, account replenishment, etc. Only after that, in order for the client to withdraw his own money, mixed with bonus money, it will be necessary to fulfill a number of virtually impossible conditions. For example, conduct trading operations for an amount tens of times greater than the size of the deposit.
In the User Agreement, a clause can also be disguised that allows the broker to manage the client's money. Inattention when reading such an agreement most often turns into a complete loss of the deposit.
One of the key points is the place of registration and regulation of the company's activities.
Let's talk about registration first. As a rule, brokers from either their own country or from an economically developed country, for example, a member of the European Union, are more credible to traders. Of course, compliance with UK legislation is reassuring, and compliance with the legislation of an unknown island in the Indian Ocean does not mean anything to most.
However, most brokerage companies are registered offshore. And it's not only about small offices, but also about world leaders. Saint Vincent and the Grenadines, Belize, Marshall Islands, Mauritius are offshore zones popular among brokers. By registering there, companies pay significantly less taxes than in the place of actual location, which is sometimes carefully hidden.
If a trader has any claims against such a company, then it is likely that he will have to deal with it in accordance with the legislation of that very conditional Belize. It is possible to be physically present there at the court sessions. And this is extremely expensive and difficult.
But is it worth running like fire from just the word "offshore"? As an answer, we will give the names of companies that are not related to brokerage, but with an impeccable reputation and also save on taxes through offshore registration: Apple, Pfizer, Microsoft, General Electric, Intel.
And here we come to the second important point - this is the regulation of the broker's activities. First of all, it is carried out at the level of the state where the company is registered. Each country has its own regulatory body for brokerage activities. So, in Russia it is the Central Bank of the Russian Federation. A trader can find permissive documentation on the websites of such bodies. But there are also supranational structures. For example, the International Financial Commission (The Financial Commission), which is an independent self-regulatory organization, considering disputes between its members - brokers and their clients.
If the broker's website does not contain information about the regulation of its activities, then these are almost certainly scammers. Or the site contains information about a certain license issued to him, but this information is not confirmed anywhere else. Most likely, these are also scammers.
When choosing a brokerage company, study its history. Check out the links to her experts. If one of the leading TV channels in economic news for 5 years in a row refers to the opinion of the analyst of the broker in question, this is good. If a broker claims to have been working for 15 years, but there is no information about him on the Internet at all, this is bad.
It's important to pay attention to company reviews. And read them not only on the website of the broker itself. In the kitchen, they will probably only be laudatory. It is best to browse as many sites as possible.
Pay attention exclusively to the specifics in the offers on the brokers' websites. Honest companies openly write about interest, spread size, minimum deposit, etc. Fraudsters lure with loud, streamlined phrases about a rich tomorrow, stable income, misleading with incomprehensible terms about multi-sites, super functions, and so on.
Find out the company's connection with well-known brands, financial institutions, public organizations. For example, it can be sponsored. Large brokers sometimes hold social promotions. Fraudsters will definitely not do this.
Thus, the process of choosing a broker is complex. But if you approach it carefully, it will allow you to enter the world of trading, which has made millions of people rich all over the world.
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Before any trade and choosing a broker You must always read reviews on this site and on other sites. Brokers who are honest, have a rating of above 3.8. Also there is always the risk of loss when trading CFDs. Be careful and read the disclosure on the website of the broker. GOMARKETS received a score of 1 of 5 on our resource.