Go Markets Review

With the advent of online trading tools and technologies, more and more traders are finding it easier to invest in commodities, stocks, futures and forex. In fact, online trading allows individuals to save a great deal of their time, energy and money. Traders simply need to create an account with their preferred broker that further provides them with a fast and efficient platform for executing low cost trades in real-time. However, the key to successful online trading revolves around choosing the right broker. If your broker fails to offer good trading conditions, options and experience, then you simply won’t achieve the desired results. As a trader, you’re always worried about placing profitable trades and earning quick and easy money. This requires you to select a broker that offers a smooth and hassle free trading platform, tight spreads and decent leverage. However, picking the right broker isn’t always as easy as it appears. You need to conduct extensive background and performance research about a couple of brokers, before you can actually pick one. This, however, is a time consuming task, which is precisely why many traders end up opening accounts with inefficient brokers, thereby losing their hard earned money.

With a plethora of options available online, how does one know whether the broker in question is genuine, reliable and efficient or not? A look at their website may certainly provide you with an idea around their platform, products and offerings but it simply cannot indicate whether trading with them would be profitable and hassle-free or not. This is where you need the expert advice and suggestions of a professional trader. A person, who has the requisite experience and knowledge around online trading and can further help you in determining whether your preferred broker is apt and appropriate for you or not. In this Go Markets review, our team of highly experienced and professional traders have analyzed the broker’s platform and offerings in six different categories. Our team members also created a demo account to better understand and review the broker’s products, accounts, speed of execution and overall services, thereby providing you with some very useful and handy information about Go Markets.

During our review process, we learnt that the Australian broker allows traders to trade stocks, commodities, CFDs, foreign exchange and binary options with ease and perfection. They cater to clients in Australia as well as overseas and require a minimum deposit amount of $200 for opening and operating a Standard account and $1000 for setting up a Pro account. We also discovered that Go Markets offers only around sixty assets for the purpose of trading and the broker does not have a web based platform, which definitely limits their performance. Read on to discover more about the broker and their products, services as well as offerings and also determine whether partnering with them is profitable for you or not.

Trading Platforms

Trading platform is the number one criteria for selecting a broker. Remember, we’re living in an era, where the markets are volatile and highly unpredictable. In fact, even a minor delay or latency can impact your trade positions massively and result in huge financial losses. Aside to this, even the banks are moving faster and thus it has become important for traders to execute their transactions on the basis of the recent market information and data. Thus, it is impertinent that you pick a broker that offers a fast and effective trading platform. A professional broker should provide their clients with an easy to use, hassle free and smooth trading platform as it only assists them in executing their transactions quickly and effectively. At Go Markets, however, a trader gets only the widely acclaimed Meta Trader 4 and mobile trading platforms that further enable traders in carrying out transactions using their smartphones and mobile phones. Unlike its competitors who also offer MetaTrader 5 and cTrader platforms, Go Markets has stuck to only the MetaTrader 4 platform, which may not appeal to many traders. Below, learn more about Go Markets trading platform and features.

MetaTrader 4

The broker offers the highly popular and internationally recognized MetaTrader 4 platform that offers a host of benefits such as easy to operate interface and also enables them in using the Expert Advisor and trade automation features.

 

With more than a decade of experience in offering fast and efficient trading services to its clients, the broker knows well how to offer best in class MT4 trading solutions and options. Their MetaTrader 4 platform is excellent for traders who need quick executions, advanced charting options and EA (Expert Advisor as well as VPS features. During the review process, we found that the broker’s MT4 platform is easy to download and use. Our team also made a note of another special feature, known as the MT4 Genesis, which allows traders to manage live trades with ease. The MT4 Genesis is an excellent feature for traders who’re looking to trade forex, commodities as well as indices. It allows traders to utilize a Terminal Window for managing their live transactions/trades. Additionally, it also features a sentiment indicator that lets traders assess the market sentiments well in advance. Another Mini Terminal allows traders to place and organize their trades directly using the charts. In addition to this, the broker also offers some exciting trading  tools to their clients such as the highly popular Autocharist tool that provides traders with forex trading alerts as well as volatility information and analysis in real-time. The autocharist feature also allows traders to enjoy automated trading. In fact, traders who’re worried about committing mistakes while executing their trades, can also use the PsyQuation tool offered by Go Markets, which uses smart and sophisticated algorithms for providing adequate trading suggestions to traders. The tool is excellent for those who wish to improve their trading behavior and performance. However, our experts felt that Go Markets is perfect for traders who’re specifically searching for the MT4 platform and aren’t worried about slippage during volatile conditions.

Mobile Trading for MT4

An increasing number of traders use their smartphones for carrying out numerous banking tasks and transactions or for managing their businesses and assignments, while they’re away from their office.Thus, mobile trading feature is increasingly gaining ground and brokers are left with no option but to provide the same to their clients, in order to stay at par with their competitors. With Go Markets mobile trading apps, traders can trade anytime and anywhere, as per their individual requirements and convenience. The app is available for both android and apple users and allow traders to access as many as 30 technical indicators. Traders can also view prices of assets in real time and open or close their positions, as and when required. The mobile app is also suited for traders who intend to place selling and buying orders over their smartphones. Using the mobile app, traders can also trade the desired binary options in real time and access their complete transaction history.

Trading Conditions

It is impertinent that traders pick a broker that offers excellent conditions for trading. Put simply, trading conditions refer to the spreads and leverage provided by the traders. Additionally, traders also need to gauge the broker’s speed of execution and determine whether the broker is efficient enough or not. In Go Markets case, we found the broker lacking in terms of leverage. The broker offers a very low leverage in comparison to others in the industry. Also, the broker offers competitive spreads, which aren’t the lowest going by the industry standards. Below, find out more about the spreads, leverage and speed of execution offered by Go Markets.

Spreads

As is already known, spreads is essentially the difference in pips between the bidding and asking prices. Go Markets offers competitive spreads but they’re not the lowest in the market. However, it certainly makes them a good choice for traders who wish to pay low amount of fee. In the case of Go Markets, traders basically have two different account options. While, the standard account is meant for the beginners and the spreads here are charged only on trades and there is no commission as well, the Pro account offers low spreads but attracts certain amount of commission from the trader. Our forex experts reinstated that if account fee is not a major concern for selecting a broker, then one can definitely open their trading account with Go Markets, as it is quite capable of meeting their trading needs and requirements.

Leverage

Leverage is essentially the ability to purchase huge volumes of currency and it also determines the margin levels needed for opening a position. Unlike its competitors, Go Markets offers low leverage of 300:1. However, it can be altered by placing a leverage change request with the broker. Let’s not forget that the other brokers in the industry are offering high leverages at around 500:1. Thus, Go Markets is certainly weak in this particular area.

Speed of Execution

Speed of executing transactions is certainly important from a trader’s perspective. Any trader would want their broker to execute their orders and transactions quickly and efficiently. This is one area where Go Markets certainly satisfies its traders. The broker offers substantial price feeds and their platform processes a huge volume of data with minimum delay. Thus, the broker is capable of executing orders/transactions with great speed. As a result, traders can meet their trading goals and plans with ease and accuracy. This also makes them a great option for brokers who’re interested in high volume as well as automated trading, as Go Markets platform aids them in opening as well as closing their trade positions on a consistent basis.

Deposits and Withdrawals

Choosing a broker is one thing and ensuring that they offer smooth and appropriate deposit and withdrawals methods and mechanisms is quite another. Brokers around the globe are known for accepting funds readily. However, whether they have a quick and efficient withdrawal process in place or not, is something that every trader should bear in mind, before they open an account with their preferred broker. That’s precisely why our team of professional and expert traders created an account with Go Markets and went through the entire process of funding their accounts as well as withdrawing money later. Below is what we discovered during the review process.

Deposit/Withdrawal Methods

Our experts found that the broker provides traders with numerous funding options. International traders can deposit funds through bank or wire transfers. However, it requires them to pay an additional fee in the form of processing charges. Apart from this, any deposit that is made in Australian dollar also attracts an additional fee to the tune of 1.8%, whereas funds deposited in other currencies attract a 3% handling fee.

When it comes to depositing money with Go Markets, traders can deposit funds in AUD, USD, GBP, EUR, SGD AND NZD currencies. Additionally, the broker also accepts deposits through debit cards, credit cards, PSP (Payment Service Providers) and BPAY. When it comes to withdrawals, the broker offers two different options to its clients. Thus, traders can either fill in a bank nomination form for withdrawal or they can opt for one time manual withdrawal.

Speed of Deposits/Withdrawals

The speed of deposits and withdrawals is certainly one of the key aspects for picking a broker. With Go Markets, you won’t face much of a hassle when it comes to depositing funds into your accounts. However, if you’re one of those brokers who needs ample funding options, then Go Markets will certainly disappoint you. They have limited options when it comes to depositing funds. For instance, the broker does not have a Pay Pal option for its clients.  On the other hand, when it comes to withdrawals, Go Markets certainly has a faster and efficient withdrawal processing system in place. The broker usually takes two days to transfer funds back into their client’s accounts, which is way faster in comparison to the usual ten days norm followed by its competitors.

Regulation

It goes without saying that your broker should be financially regulated. A broker may provide you with numerous trading options and services but if it fails to adhere to the regulatory standards and guidelines, then you are clearly at risk of losing all your money. When we reviewed the broker, we found that Go Markets is regulated by ASIC. Below, find out more about Go Markets financial regulations.

ASIC Regulated

GO Markets has acquired its license from ASIC (Australian Securities and Investments Commission). The ASIC regulation requires the broker to meet the desired regulatory standards and guidelines. What this also implies is that Go Markets is required to maintain adequate capital as well as risk management procedures, in addition to staff training processes. Apart from this, the broker also has an AFSL License and thus traders are not restricted from carrying out any trading or hedging related orders.  

Segregation of Funds

The manner in which a broker treats your money is something that should be taken into account when it comes to picking one. Thus, your broker should have strong relationships with a robust and reputed bank, where they can deposit your funds safely and securely. This is yet another area where traders won’t have to worry around partnering with Go Markets. The broker has effective and strong relationships with the National Australia Bank, which enables them in offering quality and appropriate banking facilities to their clients. Thus when you transfer funds into your accounts, the broker further deposits the funds into segregated accounts with the National Australia Bank. The broker has multiple trader accounts in numerous currencies with the bank and they use the funds only for business purpose. As per the ASIC guidelines, Go Markets can only use the funds for meeting their margin related obligations as well as for business expenditures such as utilities, employee payrolls and office rent.

Customer Support

Needless to mention, customer support is an important point that should be borne in mind at the time of picking an online broker. As a trader, you may have a number of queries and concerns around the trades and transactions that you execute on a daily basis. In addition to this, you may also want your broker to resolve your issues, especially those related to transfer, deposit and withdrawal of funds, to be resolved quickly and effectively. Hence, you need a broker who is capable of offering excellent customer support and services. Our experience with Go Markets was extremely smooth and hassle free, especially when it came to depositing and withdrawal of funds. Below find out more about the broker’s customer support services.

24 Hours Live Chat

The broker offers extremely good and prompt customer support services and assistance. Every trader is provided with a personal accounts manager, who in turn offers complete training as well as assistance via the MetaTrader 4 platform. Additionally, their customer service and support executives offer 24/5 assistance to the clients, thereby resolving their queries, issues and grievances quickly. The broker also has 24 hours live chat feature on their website, which means you can instantly connect with them anytime, anywhere.

Contact Mediums

Apart from their chat feature, the broker also offers support to its clients via phone and email. The broker has separate contact numbers for traders from Australia, New Zealand, United Kingdom and even international clients. Traders can also share and highlight their concerns via emails. Go Markets also has the Quick Support feature on its website that provides traders with adequate remote support and assistance.

Trading Education

While, many traders consider trading education to be just another feature on a broker’s website, there are still others who know how important it is for them. Thus, if your broker does not offer enough materials, information and data to provide you with adequate training and knowledge around trading, then it definitely isn’t right for you. In fact, if you’re new to trading, then you must search for a broker who provides detailed trading information, news, updates and more. When our experts reviewed the Go Markets website, they found that the broker offers enough materials for educating and training traders around the MetaTrader4 platform and trading in general. Below, take a look at what the broker offers as part of their training and education center.

Education Center

At Go Markets Education Center, traders can find ample information around forex trading. The broker offers in depth information about the forex market, basic forex terminologies and order types. Go Markets also has a separate glossary for traders and forex ebook for advanced and new traders. You can also turn to the broker’s education center for clarifying your concepts around forex strategies. In addition to the above, the broker also offers video tutorials to its clients. In fact, traders can also contact their team of trading experts and gather additional information and assistance around forex trading strategies, charting methods and technical analysis.

Market Analysis

Yet another prominent feature on Go Market’s website is their News & Analysis section, where traders can find ample information and updates around trading and industry trends. From news to weekly summaries and even articles, there’s a lot to explore for traders, when it comes acquiring forex trading information and knowledge. This section also features an economic calendar that offers updates and information around global market events and announcements as well as a separate Chinese commentary category that offers forex charts and figures in Chinese language.

 

To sum up, Go Markets is a highly sophisticated and reliable forex broker that offers some of the most exciting trading features and services to its clients. The broker not only provides recent and accurate data and information to its traders, through live charts and expert market analysis but also offers advanced trading technologies and tools.

Traders who’re specifically searching for a fast, reliable, secure and efficient platform can safely open their trading accounts with Go Markets and enjoy quick deposits, withdrawals and execution of orders. Our reviewers also found that the broker offers decent spreads, which are competitive but definitely not as low as what its competitors are offering. Thus, if you’re on the lookout for a broker that offers a decent leverage, lucrative bonus options and low enough fees, then Go Markets is undoubtedly a good choice for you.