GO Markets was established back in 2006 in Australia. It has positioned itself as a reliable forex and CFD broker providing global traders with services. It has risen to prominence over the years through the use of competitive trading terms and robust platform options. The financial analyst from 55brokers.com, George wrote a review on GO markets that provides a comprehensive research on the broker. Our review provides an analysis of the main characteristics, strengths, and potential disadvantages of GO Markets to allow prospective traders to have a complete understanding.
Main Characteristics of GO Markets
Trading Platforms: GO Markets provides the highly acclaimed MetaTrader 4 (MT4) and MetaTrader 5 (MT5) trading platforms, both famous for having a user-friendly interface and advanced trading tools. The two are both ideal for beginners and experienced traders alike, both supporting automated trading options, complex charting tools, and a wide range of technical indicators.
- Account Types: The broker offers two standard account types:
- Classic Account: The minimum deposit to open an account is A$200 and the spreads are highly competitive with zero additional commissions.
- GO Plus+ Account: This account caters to professional traders and provides raw spreads starting from 0.0 pips at a fee of €2.00 per trade per lot.
Asset Variety: Traders are given a range of different instruments to trade, including over 50 currency pairs, commodities, indexes, and cryptocurrencies. This variety makes it simpler to diversify the portfolio.
Educational Materials: GO Markets puts strong emphasis on educating the trader through an array of learning materials like webinars, tutorials, and market analysis to further trading expertise.
Customer Support: The broker provides 24/5 multilingual customer support to ensure that the traders are given prompt assistance through various channels such as live chat, emails, and telephone.
Pros of GO Markets
Competitive Trading Charges: GO Markets offers low trading charges for forex and CFD. The Standard Account offers low spreads but does not incur additional commissions, while the GO Plus+ Account offers raw spreads beginning from 0.0 pips along with an additional charge of €2.00 per trade per lot.
Advanced Trading Platforms: The availability of MT4 and MT5 means that the traders are equipped with advanced tools and functions that are appropriate to various trading strategies.
Multiple asset classes: With a wide range of tradable instruments to choose from, the portfolios are effectively diversified to avoid possible risks.
Educational Support: The extensive educational resources made available to traders through GO Markets enable them to make smart trading choices and consistently enhance trading expertise.
Streamlined account opening: The account opening process is fast and fully online, which means that trading can be started immediately.
Downsides of GO Markets
Limited Product Range: While GO Markets offers a large number of CFDs to trade, the product range is biased primarily towards forex and CFDs and does not include a broad selection of other trading products.
No Fixed Spread Accounts: The absence of fixed spread account options can be a drawback to traders who prefer to have consistent trading costs.
Limited Options: The broker offers limited options in the cryptocurrencies that can be bought. This falls short of the investors’ expectations to trade a large selection of cryptocurrencies.
No Protection to Non-EU Clients: No protection to non-EU clients is given by GO Markets. This can be an issue to non-EU traders.
Conclusion
GO Markets is an experienced broker that offers competitive trading conditions, advanced platforms, and a solid focus on educating the trader. The strengths are low trading costs, extensive asset range, and robust customer support. The weaknesses are limited product range, absence of fixed spreads account options, and absence of protection for non-EU based investors. As with any investment, diligent research and matching the broker’s options to precise trading aims and risk tolerance are essential.
George Rossi
55brokers.com
George Rossi is a finance professional with extensive experience in analysis and writing. George currently serves as a 55brokers.com Senior Writer, providing thorough market analysis and information. George has led market analysis and broker analysis since 2013, applying his expertise to inform readers how to best move through the finance sector.
