GO Markets Review

GO Markets is an Australian brokerage company that originally specialized in CFD contracts and now has over 250 instruments for trading in the forex market. GO Markets positions itself as the best first forex broker for novice traders – all because of first-class customer service, enhanced security and affordable technical innovations. Let’s try to figure out how this positioning is true.

GO Markets is a product of the Australian investment firm GO Markets Pty Ltd, which is registered and subject to ASIC regulatory requirements. License: AFSL 254963. The nuance is that we cannot verify this information: a direct link to the brokerage website has not been published, and the specified license does not a breakthrough on the ASIC website. Contacting the technical support manager is problematic since the site is not adapted for the Russian language and the request without specifying personal data is not considered. We write down this point in the shortcomings since potential customers should not suffer and deal with basic information – if a license is indicated, then you must immediately give a link to its verification. And so it turns out a confusing quest in which no one wants to participate.

General information

Trading platforms

Standard trading terminals Metatrader 4 and Metatrader 5 are available to all customers, which can be installed on a PC or any mobile gadget (iOS, Android). There is also a web trader that allows you to start working with a demo account immediately after registration. Separately, you can use the “Tools” section, which allows you to connect additional options and significantly expand the capabilities of MT4 and MT5.

Trading Instruments

Available instruments are combined into one trading account, which has more than 250 assets and consists of currency pairs (more than 50 types), various commodity market products, indices and numerous CFD contracts for popular stocks. At the time of the review, cryptocurrency is not provided.

Fees and charges

If you open an account “Standard”, then the opening of transactions will take place without commissions and with a floating spread of 1 point. There are no spreads for the GO Plus + account, however, you will have to pay $ 3 for each transaction. You also have to pay a separate fee for payment systems, which is not within the scope of 

Support

The main communication methods are indicated in the section “About Us” → “Contact Us”. You can ask a question using the prepared form, online chat, mail or phone. An Australian, British and international number is provided for telephone communications. If you know the language, then technical support will advise you from Monday to Friday at any time of the day. Feedback is closed on weekends.

Educational program

For beginners, the “Education” section has been developed. Webinars, videos, articles and numerous instructions on the basic aspects of trading in the Forex currency market are added to it. Most of the information is provided in English only, however, there is a separate section with workshops translated into Chinese. For users from other countries, content is not provided.

Features

The site has an affiliate program that allows you to get 100 Australian dollars for each attracted client: you advertise the GO Markets broker → new users come via your referral link, register and replenish your deposit → trade at least five standard currency lots → you receive a one-time reward. In all other cases, no profit is accrued. Read more in the Promotions section.

GO Markets: advantages and disadvantages

Advantages:

1. There is a complete knowledge base that is suitable for traders who speak English or Chinese. For other users, the information is not optimized.
2. Hidden payments and commissions are not charged to customers.
3. You can take any gadget and install Metatrader 4 or Metatrader 5 on it. In addition to the terminals, you can immediately connect the VPS service, Autochartist 

Disadvantages:

1. The site has an ASIC license number, but this information cannot be verified.
2. The site and technical support do not support the Russian language.
3. A long registration procedure, where you must enter the date of birth, a physical address of residence and other data.
4. There is no way to work with cryptocurrency assets.
5. There is an affiliate program, but it is accompanied by complex additional conditions, without which no profit can be made.
6. There is a demo account, but its validity is limited to 30 days. For modern companies, a training deposit is issued on an unlimited basis.