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GO Markets Review
- Used by 10,000+ traders
- Established in 2009
- Regulated by CySEC, ASIC
- Min. deposit from $1
- Limited range of instruments
- Not FCA Regulated (See alternatives)
A minimum deposit of $1 is required to establish a live account. Alternatively, GO Markets has a demo account that you may use to experiment and become acquainted with their platform.
Regulated by ASIC (AFSL #254963) and CySEC (351644), GO Markets keeps all customer funds in a separate bank account and works with tier-1 institutions to do so. GO Markets has been in operation since 2009, with a headquarters in Australia.
Before we get into the specifics of GO Markets’ spreads, fees, platforms, and trading tools, you may want to open their website in a new tab by clicking the button below to get the most up-to-date information straight from them.
Full disclosure: We may receive a commission if you sign up with a broker using one of our links.
What are GO Markets’s spreads & fees?
GO Markets, like most brokers, charges a fee based on the spread, which is the difference between the buy and sell price of an asset.
The commissions and spreads shown here are based on the GO Markets website’s minimum spreads.
|Forex||GO Markets||City Index||XTB|
|EUR/USD(Average: 0.7 pips)||0.1 pips||0.7 pips||0.1 pips|
|GBP/USD(Average: 1.1 pips)||0.3 pips||1.7 pips||0.1 pips|
|USD/JPY(Average: 1.1 pips)||0.2 pips||0.6 pips||0.1 pips|
|AUD/USD(Average: 0.8 pips)||0.1 pips||0.6 pips||0.2 pips|
|USD/CHF(Average: 2.3 pips)||0.8 pips||2.3 pips||0.2 pips|
|USD/CAD(Average: 2.9 pips)||0.1 pips||0.5 pips||0.3 pips|
|NZD/USD(Average: 3.6 pips)||0.4 pips||2.8 pips||0.3 pips|
|EUR/GBP(Average: 2.4 pips)||0.7 pips||0.5 pips||0.1 pips|
Spreads are dynamic and are for informational purposes only.
As you can see, GO Markets’s minimum spread for trading EUR/USD is 0.1 pips – which is relatively low compared to average EUR/USD spread of 0.70 pips. Below is a breakdown of how much it would cost you to trade one lot of EUR/USD with GO Markets vs. similar brokers.
How much does GO Markets charge to trade 1 lot of EUR/USD?
If you bought one standard lot of EUR/USD (100,000 units) with GO Markets at an exchange rate of 1.1719 and sold it the next day at the same price, you would most likely pay $0. Here is a general breakdown of the fees and how they compare to IG and XTB.
|Spread from:||$ 1.00||$ 6.00||$ 2.00|
|Total cost of a 100k trade:||$ 6.00||$ 6.00||$ 2.00|
|$0 more||$4 less|
|VISIT GO MARKETS||VISIT IG||VISIT XTB|
All fees/prices are for informational purposes and are subject to change.
What can you trade with GO Markets?
GO Markets provides over 100 different trading products, including over 50 currency pairings. Below, we’ve summarised all of the numerous types of instruments offered by GO Markets, as well as those offered by IG and XTB for comparison.
|FX / Currencies||GO Markets||IG||XTB|
|# of forex pairs offered||50||90||48|
|Major forex pairs||Yes||Yes||Yes|
|Minor forex pairs||Yes||Yes|
|Exotic forex pairs||Yes||Yes|
|Commodity CFDs||GO Markets||IG||XTB|
|# of commodities offered||34||21|
|Index & Stock CFDs||GO Markets||IG||XTB|
|# of stocks offered||8000||1606|
|SEE GO MARKETS’S INSTRUMENTS||SEE IG’S INSTRUMENTS||SEE XTB’S INSTRUMENTS|
What’s the GO Markets trading experience like?
1) Platforms and apps
GO Markets provides the well-known MT4 forex trading platform. See our MT4 broker comparison for a list of the best MT4 brokers. Traders may trade with their preferred device thanks to the mix of downloading platforms for both Mac and Windows.
They also provide mobile apps for Android and iOS, making it easy to monitor and execute your trades while you are on the move.
Still not sure?
2) Executing Trades
The minimum and maximum trading criteria at GO Markets vary based on the trader and the product. Because GO Markets provides ECN and STP execution, you may anticipate exceptionally narrow spreads and greater transparency in the price you pay to execute your transactions.
As a market maker, GO Markets may have lower entrance criteria than an ECN broker, who usually has greater capital and minimum trading requirements due to a higher number of trades. Market makers generally have a lower minimum deposit, lower minimum trade requirements, and no trading commission.
Margin requirements, like those of other brokers, vary based on the trader, account, and instrument. The most recent margin requirements may be seen on their website.
Finally, we’ve included a list of some of the most popular funding options available to GO Markets traders below.
- Allows scalping
- Allows hedging
- Offers STP
- Low min deposit
- Demo account
- Mini account
- Standard account
- ECN account
- Credit cards
- Bank Transfer
3) Client support
English, French, Chinese, Spanish, and Arabic are among the languages supported by GO Markets.
4) What you’ll need to open an account with GO Markets
Because GO Markets is CySEC and ASIC-regulated, every new customer must pass a few simple compliance tests to verify that you understand the risks of trading and are permitted to trade. When you establish an account, you will most likely be asked for the following information, so have it handy:
- A scanned colour copy of your passport, driving license or national ID
- A utility bill or bank statement from the past three months showing your address
You’ll also need to answer a few basic compliance questions to prove your trading expertise, so allow at least 10 minutes to finish the account opening procedure.
While you may be able to explore their site immediately, it is essential to note that you will not be able to make any transactions until you pass compliance, which can take several days , depending on your situation.
79% of retail investor accounts lose money when trading CFDs with this provider.