GO Markets is a forex and CFD broker that has been in operation since 2006. The broker is regulated by top-tier authorities such as ASIC in Australia and CySEC in Cyprus, but also holds licenses from offshore regulators in Mauritius and Seychelles.

GO Markets Pros and Cons

GO Markets offers a range of trading platforms, including MetaTrader 4, MetaTrader 5, and cTrader. The broker provides access to a wide range of trading instruments and offers educational materials and 24/5 support. Traders can choose from two account types, and there is also a swap-free option for Muslim traders. The broker has been recognized for its services, winning awards such as the ‘Best Forex Fintech Broker-Global’ in the ‘Global Forex Awards’. However, some traders have reported issues with GO Markets. Complaints include a limited product portfolio, unsatisfactory customer support, and lack of deposit protection for clients outside the European Union. The broker’s trading fees are considered average, and there is no investor protection for non-EU clients.

What are the account types offered by go markets?

Account Types Offered by GO Markets

GO Markets offers two main account types: the Standard Account and the GO Plus+ Account. Both accounts are designed to cater to the specific trading needs of both beginners and professional traders.

Standard Account

The Standard Account is an entry-level account ideal for beginners and experienced traders alike. It features:

• Minimum Deposit: $200 or R3,200 ZAR.
• Spreads: Starting from 1.0 pips.
• Commission: $0.00 commission on trades.
• Leverage: Up to 500:1.
• Available Markets: Wide range of FX pairs, Shares, Indices & Commodities.
• Minimum Trade Size: 0.01 lots.
• Dedicated customer support 24/5.

GO Plus+ Account

The GO Plus+ Account is tailored for higher volume and EA traders, offering:

• Minimum Deposit: $200 or R3,200 ZAR.
• Spreads: From as low as 0.0 pips.
• Commission: $3.00 AUD per side on a standard lot.
• Leverage: Up to 500:1.
• Available Markets: Wide range of FX pairs, Shares, Indices & Commodities.
• Minimum Trade Size: 0.01 lots.
• Access to dedicated customer support and a personal account manager.

Additional Account Options

GO Markets also provides a Risk-Free Demo Account for those looking to practice trading without financial risk4. For corporate entities, business, or joint account needs, GO Markets offers tailored solutions.

Non-Trading Fees

GO Markets does not charge any handling fees for deposits or withdrawals. However, inactive accounts that have been dormant for more than 3 months are charged a maintenance fee of 15 EUR or the equivalent in the account’s base currency. This fee is charged monthly until activity on the account resumes or the balance drops to zero.

User Reviews

Some users have praised GO Markets for its low forex fees, fast account opening process, and great educational tools. They also commend the broker’s customer support and the variety of trading instruments. On the other hand, some traders have had negative experiences with GO Markets. They have reported issues with withdrawals and poor customer service. Some users have also claimed that they were scammed by the broker.

Conclusion

In conclusion, while GO Markets offers a range of trading platforms and instruments, and a fast and fully digital account opening process, the broker has received mixed reviews. Some traders have reported issues with customer service and withdrawals, and the broker’s unregulated status raises concerns. As always, traders should conduct thorough research before choosing a broker.