Go Markets: Is This the Broker Suit Your Need?

Are you looking for comprehensive broker reviews? At Finxpdx, we provide comprehensive evaluations of brokerage services. Choosing the right forex trading broker can be a game-changer for your trading journey. It’s not just about finding a platform that offers the best rates or the most user-friendly interface; it’s about trust, reliability, and the assurance that your investments are safe.

This forex trading broker review will give a closer look at Go Markets review and can help you determine if it aligns with your trading preferences and financial goals. 

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Go Markets: Overview 

Go Markets is a renowned forex and CFD broker that has been serving traders around the globe since its establishment in 2006. Headquartered in Ebene, Mauritius, Go Markets has built a solid reputation for providing a robust trading environment suitable for both novice and experienced traders. The broker offers a wide range of trading platforms, including the popular MetaTrader 4 and MetaTrader 5, cTrader, and their proprietary Go WebTrader. These platforms cater to the needs of diverse trading strategies and preferences, ensuring a flexible trading experience.

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Regulation and Registration 

Go Markets is recognized as a Global Business Company under the company number 170969. It operates under the authorization and regulation of the Financial Services Commission (FSC) of Mauritius. Specifically, it is licensed as an investment dealer, focusing on full service dealing with the exception of underwriting, and holds the license number GB 19024896. 

This regulatory framework ensures that Go Markets adheres to stringent standards of financial conduct, providing traders with a secure and regulated trading environment. It’s important to note that the services offered by Go Markets are not intended for jurisdictions where their distribution or use would contravene local laws or regulations.

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Account Types of  Go Markets

GO Plus+ Account

• Minimum Deposit: Not specified
• Spread: Starts from 0.0 pips
• Commission: A$2.50 per side on a standard lot
• Maximum Leverage: Up to 500:1
• Instruments: Wide range of FX pairs, shares, indices & commodities

Standard Account

• Minimum Deposit: $200
• Spread: Starts from 0.8 pips
• Commission: A$0.00
• Maximum Leverage: Up to 500:1
• Instruments: Wide range of FX pairs, shares, indices & commodities

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Deposit and Withdrawal

GO Markets does not charge any internal deposit fees using Visa/Mastercard, Skrill, Neteller, or bank transfer. The broker also does not charge any internal fees for withdrawals. However, fund withdrawals to non-Australian banking institutions may be subject to bank fees from any intermediary bank involved in the transaction and may attract a receiving fee from the client’s bank/institution. The time it takes to deposit funds into your account can vary. This depends on the receiving bank. Generally, local transfers may take 1-2 business days. On the other hand, international transfers may take 3-5 days. After this time, your funds should be reflected in your account balance.

Withdrawal forms received before 1 pm AEST will be processed on the same day, and any forms received after this time may not be processed until the next available business day. Go Markets will process all withdrawals back to the initial funding source, where appropriate. Due to third-party transaction regulations, they can only return funds to a bank account in the same name (or joint) as the GO Markets account. GO Markets prohibits third-party payments and over-the-counter cash payments.

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Products in Go Markets

GO Markets offers a wide range of products for trading, including:

• Forex
• Share 
• CFDs
• Commodities
• Indices
• Metals

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Trading Platform of  Go Markets

GO Markets offers a variety of trading platforms to cater to different trading needs. These platforms include:

• MetaTrader 4
• MetaTrader 5
• cTrader
• Mobile Trading
• GO WebTrader

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Fees of  Go Markets

GO Markets offers competitive trading fees for different types of trading. For example, for GO Plus+ account holders, the forex trading fee is $3.00 commission per lot per trade plus a low average spread cost, such as 0.2 pips for EUR USD during peak trading hours. For share trading, GO Markets charges a flat fee of $7.70 per trade for trades up to $100,000, with no monthly or activity fees. Additionally, GO Markets does not charge inactivity, deposit, or withdrawal fees. Furthermore, GO Markets now offers zero commission on Gold trades. These fees and offers make GO Markets a competitive option for traders.

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Go Markets Promotions

Go Markets is now offering:

• Get Paid for Every Trade With a 50% Trading Credit Bonus: When you deposit funds into your live trading account and opt into the promotion, you’ll get 50% of your deposit back as a trading credit. As you trade, this credit can be converted into cash, with the potential to receive up to $7,500 in cash rebates.

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Customer Support 

• Phone (International): +230 5869 0074
• Email Support: [email protected]
• Email for New Accounts: [email protected]
• Head Office Address: Level 7 Office 12, ICONEBENE Lot B441, Rue de L’Institut Ebene

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Pros & Cons 

Pros Explained

• Go Markets offers competitive forex fees, making it an attractive choice for traders looking to minimize costs. This advantage can significantly impact profitability, especially for high-volume traders.
• The process to open an account with Go Markets is streamlined and efficient, allowing traders to quickly set up and start trading. This feature is particularly beneficial for those eager to take advantage of market movements without delay.
• Go Markets is regulated by reputable, top-tier financial authorities, ensuring a high level of security and trustworthiness. This regulatory oversight guarantees that the broker adheres to strict financial standards and practices.

Cons Explained

• While Go Markets provides a secure trading environment, it’s important to note that non-EU clients may not benefit from the same level of investor protection as EU clients. This distinction can be a significant consideration for traders outside the European Union.
• The required minimum deposit to open an account with Go Markets may be higher than some competitors, which could be a barrier for new or small-scale traders. This factor is worth considering when planning your investment strategy.
• Although Go Markets offers a range of trading options, its product portfolio might be considered limited compared to other brokers. Traders looking for a wide variety of financial instruments or niche markets may find this aspect restrictive.

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Is Go Markets Worth Considering? 

Go Markets emerges as a compelling choice for traders prioritizing low trading costs and efficient market entry. Its competitive forex fees stand out, potentially enhancing profitability for active and high-volume traders. Coupled with a fast account opening process, Go Markets ensures traders can swiftly engage with financial markets, an essential feature for those looking to capitalize on timely opportunities.

The broker’s regulation by top-tier financial authorities adheres to high standards of financial integrity and client protection. However, it’s essential to weigh these advantages against certain limitations. The notable drawback for non-EU clients is the reduced investor protection, which could be a significant factor for traders outside the European Union. The high minimum deposit requirement may also deter new or small-scale traders, limiting accessibility for those with lower capital. Lastly, the limited product portfolio might restrict traders looking for diverse trading opportunities across a broader range of financial instruments.

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FAQs

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