The demo account is especially useful as it offers a risk-free way to trade. The standard account is intended for new traders and has a low minimum deposit of US Dollar $200. There is also a demo account option that offers simulated trading on currency markets. The MT4/MT5 trading platforms support unlimited demo accounts, and GO Markets does not list restrictions.
Are you trying to figure out which is a better broker, Go Markets or FXCM? After rigorously testing both brokers and putting each through our accurate and extensive reviewing process, we have concluded that Go Markets is the better of the two. Go Markets offers 100+ instruments, licenses from CySec, ASIC, FSA, FSC, and fair trading fees. Since GO Markets does not have its own mobile trading platform, you can use the excellent MT4 and MT5 mobile apps for iOS and Android. These mobile versions closely emulate the MT4 and MT5 desktop versions and have many of the same features. Yes, beginner traders will find a lot of resources and help to support them but the trading platform is geared toward professionals.
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. 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.
GO Markets Withdrawal Methods
Indeed, it was Go Markets that first brought MetaTrader 4 to Australia as early as 2006. As such, this brokerage has over a dozen years of experience using this platform for its traders. Now, an additional selection of trading tools known as MT4 Genesis has been introduced. Among the many benefits of the trading platform are EAs , VPS options, mobile trading on MetaTrader 4, advanced charting features, and rapid executions of trades. Combined, clients have access to 60+ trading instruments on MetaTrader 4.
In the tables below, you can compare the features of Go Markets and FXCM side by side, to work out which suits your trading needs best. You can also carry on reading to find out why our experts ranked Go Markets higher than FXCM. GO Markets Pty Ltd is regulated by tier 3 regulator the FSC of Mauritius. However, after registering for the First Steps in Forex we never received an email or any form of communication regarding the next steps which was a disappointing experience. GO Markets scored low in this category as while they have news, weekly summaries and articles on their website it has not been updated in the last 8 months. However, they do provide access to third-party research from Trading Central.
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. These include economic analysts with in-depth insights into the Asian market, the Australian market, and the New Zealand market. One of the leading authorities at Go Markets is Mike Huang who has extensive experience as an options trader and an equity trader.
Yes, you can choose between either the MT4 or MT5 version of the trading apps which are compatible with both iOS and Android phones. All financial transactions take place in the secure back office of GO Markets. The options remain limited, and I am missing the flexibility of many payment processors.
How to start your GO Markets account?
The trading platforms include MetaTrader 4 for Windows, Mac and mobile. MetaTrader 4 is available in a trial demo account, and a live account. For Forex traders, it’s a no-brainer – MT4 is regarded as the gold standard.
Both accounts have a reasonable minimum deposit of 200 AUD, making them accessible to beginner traders. It offers a demo account, excellent customer service, Trading Central, Autochartist, Metatrader 4, and various other tools. It offers a wide range of platforms where the users can trade as per their convenience. Furthermore, it offers several payment methods for deposits and withdrawals, and registration is straightforward. Even though it offers several features, a trader should research and analyze this broker before proceeding. You can know more about the rank position of Go Markets in Australia.
Client services are not trained to resolve technical issues which are then referred to IT. If GO Markets’ website itself does not provide enough means, a trader should explore other information sources and means to obtain skills and knowledge. One of the first things a potential trader needs to establish is whether a broker like GO Markets is safe to trade with. One of the surest benchmarks to measure the safety of a brokerage is to establish which regulating authorities are watchdogs over its actions. Ripple is popular among big banks with the Ripple network a next-generation real-time gross settlement system.
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. The wide range of base currencies available at GO Markets allows for traders to do this and is welcomed. GO Markets offers an average range of payment methods compared to other brokers, but it charges no fees for deposits or withdrawals. The main idea behind this is to make sure that people with inadequate experience start trading in the market and lose their funds. Go Markets, in celebration of its 15 years, offered traders a special trading credit bonus to get 30 percent of their deposits.
Deposits and Withdrawals
The broker GO Markets trading platforms provide traders with several trading tools such as Myfxbook, Trading Central, and autochartist. These tools highlight several trading opportunities where the traders can use fundamental and technical analysis to execute profitable trades. Go Markets is a lqdfx leading Australian online broker and one of the best forex brokers in Australia. Also, it is regulated and authorized by the Australian Securities and investment commission . In 2019, this broker was awarded an Investment Trends Award for educational materials/programs and customer service.
However, we found the live chat to be slow and we couldn’t connect over the phone. There were also occasions when the live chat wasn’t on and we would get a message saying someone will email us back which is why this category received the lowest score in our rating. GO Markets Ltd provides the ability to trade on 70+ financial CFD instruments covering forex, indices and commodities. Markets such as stocks and cryptos are only available through the GO Markets entities based outside of Europe. You cannot access algorithmic trading capabilities, customised indicators or layouts from the MT4 mobile app, like you can in the desktop version.
Our verdict on Go Markets
Advanced traders will enjoy the features of the desktop trading platform and the range of account types offering a mix of commission-free and commission-based trading. It’s a great way to test all of the tools the broker provides you and get comfortable with the platform and the different markets available to trade on. When you are comfortable trading on a GO Markets demo account it is easy to transition to a live account with real money. The MetaTrader suite of trading platforms is considered to be the most popular trading platform in the world. With GO Markets, you can trade on the MetaTrader 4 platform for PC, MAC and mobile. The broker scored maximum points in the deposit and withdrawal category as they are fee-free.
Whatever type of mobile device you are using, you can download the relevant app from either the App Store or Google Play. The GO Markets minimum deposit is $200, higher than most brokers, but within a reasonable range. Here is a screenshot of live quotes at GO Markets during the London-New York overlap session, the most liquid one, where traders usually get the lowest spreads. Handbook about Foreign Exchange Trading – If you want to focus on trading with foreign exchange, you must know all the information related to it, including basic, and advanced topics. It is designed to be multi-functional, have easier navigation, and be more advanced.
A very common misconception about demo accounts is that it is only good for beginner traders, but that is not the truth at all. GO Markets is broker for Forex trading that uses the MetaTrader 4 or MT4 trading platform in order to provide their services for the clients. The MT4 trading platform that GO Markets is using includes best feature of this platforms such as auto trade placements, Expert Advisors, custom made charts, alarm manager and many others. One of the biggest advantages of this trading platform is the fact that it does not limit the users in a sense that they have to use only computers when trading. Instead, MT4 platform has also been developed for the wide range of mobile devices that run either on Android or on iOS.
It really makes me wonder if the rest of the company is run in similar appallingly bad way. If so it seems to be that it might be time to move to another broker who can offer amongst other things reasonable technical support. Trading derivatives and leveraged products carries a high level of risk, including the risk of losing substantially more than your initial investment.
He first joined the company in 2009 as a financial analyst, and in 2013, became the Director and Responsible Manager. 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. 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.
I want to trade options, are they available at GO Markets?
GO Markets offers several research resources that help the new traders to execute seamless trading. It also provides several educational programs and research tools which are used by all types of traders that are available free to use. If details on the website are not comprehensive, more information can be obtained from the customer support service. As with currency exchange markets, commodity markets offer different investment opportunities for traders.
GO Markets, founded in 2006 in Australia, is a global forex and CFD broker. GO Markets is regulated by the Australian ASIC, the Cypriot CySEC, and the financial regulators in Mauritius and in Seychelles. ASIC is a top-tier regulator, but the other three are not in the top-tier category. The broker’s services are slightly different depending on the legal entity you belong to. In this review, we tested the CySEC-regulated entity, but we highlighted the relevant information for the other units as well. That is why it is imperative to offer an excellent mobile experience.
You can buy or sell a market at the current price or place an order at a future price. There will also be a confirmation message to confirm whether you want to place a trade or not which is great for safety in case you want to change your trade settings. While they have a dealing desk there is no dealing desk intervention and prices are sourced from top-tier banks and other liquidity providers. Trades can either be sent via STP or as principal to principal depending on the risk assessment. Conversion fees – The cost to convert your base currency into the currency of the asset you are trading, if it is different. When trading forex and CFDs, it is crucial to know a broker’s strengths and weaknesses.
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. Automated trading is when a trading strategy is conducted automatically based on algorithms programmed into expert advisors 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.
More information regarding the addition of new products to the platform will be arriving soon, so stay tuned. This coming week we will be taking action to prepare our MetaTrader platform for the addition of new products for clients to trade. In doing so, we will be enhancing our price feed through the addition of new liquidity providers, providing you with STP access to even deeper liquidity.
The company also has offices around the world, notably in Italy, China, France, Spain, Germany and the United Kingdom. GO Markets lets clients access social and copy trading by supporting Myfxbook’s AutoTrade feature. Other premium services available through GO Markets include MT4 and MT5 Genesis, Autochartist, a-Quant, Trading Central, as well as a VPS service for MT4/5. If you’re looking to trade with a broker that provides access to some of the best trading fees in the industry then GO Markets could be for you. This is one reason regulators such as CySEC, ASIC and the FCA cut the leverage brokers can offer retail traders – to make it safer for beginners.
You can access a variety of order types from the MetaTrader 4 platform. Market orders will open a trade at whatever the current market price is. When the market price gets to your order level it will open your trade. As per our review, we can say that GO Markets is a licensed broker and has the required registrations, which make it a safe trading environment. As such we’re committed to continually refining our technology, client support and education. For 15 years, as the industry and clients’ expectations have evolved, we’ve firmly positioned ourselves as a trusted and leading regulated provider.
The trader can also connect with them through telephone support, where the phone number is listed on the website. This broker has their presence in social media, enabling the traders to contact them through Instagram, Facebook, and LinkedIn. It provides traders with different services, features, and functionalities designed for both new and experienced traders to ease up their trade experience. Forex brokers are also known as retail forex brokers or currency trading brokers. Retail currency traders in turn use these brokers to gain access to the 24-hour currency market for speculation purposes.
GO Markets further runs a Forex Education Centre providing traders with options to learn basic and advanced features of the business. Other education courses and training sessions are offered through live webinars. The forex trading software provided by a broker company to its clients is called the platform and is used to carry out their trades.
I have been trading with GoMarkets on live accounts with MT4 for well over 10 years. I have generally found GoMarkets tech support appalling but since I have an IT background I just2trade review have always managed to sort out the problems by myself. Being a new customer to Go Market, the enrolment process and setting up the account and trading platform was seamless.
Minor and major foreign exchange pairs range from 0.2 to 0.5 pips, as indices’ minimum trade size starts from 0.1 pips. TradingBrokers.com is for informational purposes only and not intended for distribution or use by any person where it would be contrary to local law or regulation. We do not provide investment advice, offer or make solicitation of any investment products. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 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.
The broker does provide a wide range of platform tutorial videos to help. The GBPJPY spread is one of the lowest we’ve seen for a commission-free trading account. Many brokers will have this instrument at a spread of around 3 – 5 pips, so the GBPJPY 1.65 pip average spread is excellent. Many brokers will mark this up without windsor brokers review telling you but GO Markets keep this in line with the industry average which is great. This fee is important for long-term traders, as overnight fees can add up if you are holding trades for a long period of time. If you’re interested in trading with some of the best fees in the industry then GO Markets could be for you.