GO Markets Review – Is it Aussie Forex Trading Powerhouse?

By Lucy Tudor Last updated Oct 13, 2024

Overall Verdict

GO Markets is a well-established forex and CFD broker, founded in 2006 and regulated by multiple authorities (ASIC, CySEC, FSC Mauritius, and FSA Seychelles). Its strong regulatory framework and segregation of client funds ensure a high level of security and trust. The broker offers competitive spreads (with GO Plus+ accounts featuring near-zero spreads) and low commissions, making it attractive for both retail and professional traders. GO Markets provides access to popular platforms like MT4, MT5, and cTrader, along with robust educational resources, advanced trading tools, and 24/5 multilingual customer support. However, the broker’s product range may be limited compared to some competitors, and there are occasional concerns about execution delays and regional restrictions. Overall, GO Markets stands as a solid option for traders looking for a secure, well-regulated broker with competitive fees and strong technology, though its higher minimum deposit might deter beginners.

Funding & Withdrawal

Spreads & Slippage

leverage & Swap

Mean rating of1 Votes

✅ Pros

Strong regulatory framework

Segregated client funds

Competitive spreads available

Low commission fees

Multiple trading platforms

Fast account opening

Robust educational resources

Advanced trading tools

Multilingual customer support

⛔ Cons

Higher minimum deposit

Limited product range

Occasional execution delays

Regional restrictions apply

Inconsistent mobile security

Few promotional offers

No 24/7 support

Platform interface dated

Complex fee structure

Some withdrawal issues reported

4.3

Overall Rating

Choosing the right forex and CFD broker is a crucial first step for any aspiring or seasoned trader. A reliable platform with competitive fees, diverse instruments, and a user-friendly interface can significantly impact your trading experience. This comprehensive GO Markets review delves into the intricacies of this established broker, offering a clear and unbiased assessment based on real trading experience.

Review Transparency

🔴 As a seasoned forex and CFD trader, I’ve utilized GO Markets for several months across various trading sessions and during high-impact economic news releases. This review is based on a real, funded account, not a demo, ensuring a genuine perspective on the platform’s performance and user experience.

My methodology for evaluating GO Markets involved:

Extensive Platform Testing: Exploring the features and functionalities of the trading platforms offered by GO Markets.
Live Trading Experience: Actively trading various instruments on the platform to assess execution speed, slippage, and overall performance.
Customer Support Evaluation: Engaging with GO Markets’ customer support team through various channels to gauge their responsiveness and effectiveness.
Comparative Analysis: Comparing GO Markets’ offerings with other leading forex brokers to identify strengths and weaknesses.

GO Markets Vs Top Alternatives

This comprehensive comparison table dissects the key features of GO Markets, XM, and FxPro, empowering you to make an informed decision:

Feature	GO Markets	XM	FXpro
Regulation	ASIC	FCA, CySEC, ASIC	FCA, CySEC
Tier-1 Licenses	Yes (ASIC)	Yes (FCA)	Yes (FCA)
Headquarter	Melbourne, Australia	Limassol, Cyprus	London, UK
USA (CFTC Authorized)	No	No	No
Year Founded	2006	2009	2006
Rating (out of 5)	3.5	4	4.5
Account Types	Standard, Active Trader, Pro	Micro, Standard, Ultra Low, Shares	Standard, MT4 Floating, MT5 Floating, cTrader
Minimum Deposit	$200	$5	$100
Spreads	Variable (ECN/STP)	Variable (Market Maker)	Variable (STP/ECN)
Maximum Leverage	400:1 (varies by instrument)	30:1 (Europe), 200:1 (other)	30:1 (Europe), 200:1 (other)
Execution	ECN, STP	Market Maker	STP/ECN
One-click Execution	Yes	Yes	Yes
Requotes	Less common (ECN/STP)	Uncommon	Rare
Slippage	Possible during high volatility	Possible during high volatility	Less likely (STP/ECN)
Market Gaps	Possible	Possible	Possible
Commissions per lot	Variable (ECN accounts)	None	Variable (STP accounts)
Swap Rates	Yes	Yes	Yes
Swap Free Accounts	Islamic Accounts Available	Islamic Accounts Available	Islamic Accounts available
Trading Platforms	MetaTrader 4, MetaTrader 5	MetaTrader 4, MetaTrader 5	MetaTrader 4, MetaTrader 5, cTrader, TradingView
Assets	Forex, Indices, Cryptocurrencies, Commodities	Forex, Indices, Cryptocurrencies, Commodities	Forex, Indices, Cryptocurrencies, Commodities, Shares
Copy Trading	No	Yes	Yes
Trading Contests	No	No	No
Negative Balance Protection	Yes	Yes	Yes
Guaranteed Execution	No	Yes (limited conditions)	No
Margin Call Level	50%	75%	50%
Stop Out Level	30%	50%	30%
Bonus Availability	Occasionally	No	No
Cashback Availability	No	No	No
Deposit & Withdrawal Fees	Variable (may apply)	Variable (may apply)	Variable (may apply)
Deposit & Withdrawal Times	Same business day (varies)	Same business day (varies)	Same business day (varies)
Mobile App Trading	Yes	Yes	Yes
Free VPS Hosting	May be available on high volume accounts	No	May be available on request
Customer Support	24/5 Live Chat, Email, Phone	24/5 Live Chat, Email, Phone	24/5 Live Chat, Email, Phone
Market Analysis	Daily research, educational resources	Daily research, educational resources	Daily research, educational resources
Inactivity Fees	Yes (after 12 months)	Yes (after 12 months)	Yes (after 6 months)
Customer Reviews	Click Here	Click Here	Click Here
Start Now		Click Here	Click Here

Cons & Pros

Con’s

Limited Research Tools: As mentioned, GO Markets doesn’t offer extensive market analysis or research reports.
No Investor Protection for Non-EU Clients: Client protection measures may vary depending on your location.
Slightly Wider Spreads on Swap-Free Account: The Swap-Free account comes with a slight spread disadvantage compared to other account types.

Pro’s

ASIC Regulation: Provides a secure trading environment with robust client protection measures.
Multiple Account Types: Caters to diverse trader needs and preferences.
Competitive Spreads: Generally tight spreads, particularly on the GO Plus+ account.
Commission-Free Trading: Standard and GO Plus+ accounts eliminate commission fees.
ECN Execution: Offers transparency and potentially tighter spreads.
Variety of Trading Platforms: Provides options for different trading styles and preferences.
24/5 Multilingual Customer Support: Ensures prompt assistance whenever needed.
Extensive Educational Resources: Helps traders enhance their knowledge and skills.

Who is GO Markets Best Suited For?

GO Markets can be a good fit for various trader profiles:

Beginner Traders: The user-friendly platforms, educational resources, and commission-free accounts (Standard and GO Plus+) make GO Markets a welcoming environment for those new to forex and CFD trading.
Active Traders: The tight spreads on the GO Plus+ account and ECN execution cater well to active traders seeking to minimize trading costs.
Swap-Free Account Users: For traders adhering to religious restrictions on interest, the Swap-Free account offers a convenient solution, although be mindful of the slightly wider spreads.

GO Markets presents a compelling proposition for forex and CFD traders seeking a well-regulated platform with competitive fees and a strong focus on transparency. Their user-friendly interface, diverse account options, and educational resources cater to traders of various experience levels. While they lack in-depth market research tools, their overall strengths make them a solid choice for traders seeking a reliable and cost-effective trading experience.

The Final Verdict

GO Markets is a well-established and reliable forex and CFD broker with a strong focus on regulation, transparency, and competitive pricing. Their ASIC regulation ensures a secure trading environment, while their multiple account types cater to diverse needs.

The combination of tight spreads, commission-free trading (on Standard and GO Plus+ accounts), and ECN execution makes GO Markets an attractive option for cost-conscious traders. The user-friendly trading platforms and comprehensive educational resources further enhance the overall trading experience.