GO Markets Review 2020

GO Markets General Fees

• GO Markets withdrawal fees varies on payment method
• GO Markets doesn't charge inactivity fees
• GO Markets does charge deposit fees

Broker	GO Markets	XTB	eToro	Pepperstone
Min Deposit	1	0	200	200
Withdrawl Fees	Varies	varies	Yes	No
Inactivity Fees	No	No	Yes	Yes
Deposit Fees	Varies	No	No	No
CFD Commission Fees	No	Yes	No	Yes

GO Markets Commissions

• GO Markets doesn't charge commission on CFD instruments.

Trading on GO Markets web platforms and other applications

GO Markets offer the popular MT4 forex trading platform. To see a list of the top MT4 brokers, see our comparison of MT4 brokers.

GO Markets also offer mobile apps for Android and iOS, making it easier to keep an eye on and execute your trades while you’re on the move.

GO Markets Trading benefits :

• Allows scalping
• Allows hedging
• Offers STP
• Low min deposit

GO Markets Trading Accounts Offered :

• Mini account
• Standard account
• ECN account
• STP account

Can I try GO Markets before I buy?

GO Markets offer a demo account so you can try before putting down funding payments. Open a practice account & learn to trade

GO Markets withdrawl and funding methods.

GO Markets offer the below funding payment methods. learn more about GO Markets

• Credit cards
• Bank Transfer
• PayPal
• UnionPay

Broker	GO Markets	XTB	eToro	Pepperstone
Bank transfer	Yes	Yes	Yes	Yes
Credit Cards	Yes	Yes	Yes	Yes
Paypal	Yes	Yes	Yes	Yes
Skrill	No	Yes	Yes	Yes
Payoneer		Yes	Yes	Yes
Neteller	No	Yes	Yes	Yes

How can I start trading with GO Markets?

When opening a trading account with GO Markets, you will need to sign up here. Once you have received your login details by email, submitted your identification documents for account validation, and made a deposit; the next step is to download the trading platform of your choice. You can find detailed guidance on GO Markets trading platforms here.

Performing trades with GO Markets

With GO Markets, the minimum and maximum trade requirements vary depending on the trader and the instrument. As GO Markets offer ECN and STP execution, you can expect very tight spreads with more transparency over the price you‘re paying to execute your trades.

As with most brokers, margin requirements do vary depending on the trader, accounts and instruments.

GO Markets Leverage and GO Markets CFDs Explained

let's take a look at some of the basics of using GO Markets leverage.

GO Markets offer CFD are a leveraged product for this example we describe ten times leverage.

So you have a ten thousand dollar position but you only tie up a thousand dollars a tenth of the value on your account. You have a situation where a small sum of money is controlling a much bigger financial position. This is your leverage.

So what effect does leverage have on your profits and losses well put simply it magnifies them in both directions.

GO Markets leverage magnifies both profits and losses when trading.

Let's say for example you buy ten thousand dollars worth of General Electric (GE) using contracts for difference ( CFDs ) using the GO Markets trading platform.

let's say General Electric (GE) rises 10% because its results are positive your position which was worth ten thousand dollars is now worth $11,000.

It's grown by $1000 10% in value this represents a hundred percent increase on the funds initially committed on your leverage CFD trade.

Our initital investment of ten thousand dollars for the trade and has made a thousand dollars in profit because the price is up ten percent.

The GO Markets leverage goes both ways. If General Electric (GE) Falls 10% on week results your position which was worth ten thousand dollars is now worth only nine thousand dollars. It has fallen by a thousand dollars.

GO Markets CFDs are typically used for short to medium term trades. For example GO Markets intraday trading.

Education resources at GO Markets

To trade effectively with GO Markets, it's important to get a have a good understanding of the GO Markets trading tools and the markets.

GO Markets offer a good selection of educational resources. Spend some time reading up on how the markets and trading works, making active trades, active trading times, and managing risk.

Having an analytical approach may be a good way to approach trading with GO Markets.

Take time to look around the GO Markets platforms and train yourself to think more systematically and logically about the markets. It's a new skill-set for many, but it is what the market requires of you.

Customer Support at GO Markets

GO Markets support a wide range of languages including English, French, Chinese, Spanish, Arabic

GO Markets have a triple AAA grade support rating because they offer a wide range of languages, live chat, email and phone support.

GO Markets customer service support multiple languages from all over the world. Having a broker that can hire people from various locations in the world who can better communicate with you in your local language is a huge advantage well trying to deal with issues.

Livechat Support at GO Markets

We tested the GO Markets live chat and it works well. We sent messages to GO Markets livechat through their app and website and recieved a response within 3 minutes.

We tested communicating with GO Markets support in multiple languages in multiple countries. GO Markets where able to quickly resolve our customer issues.

Email Support at GO Markets

We sent several emails to GO Markets and answer times overall were excellent. The fastest response from GO Markets was less than 2 minutes and the slowest response was 3 hours. Support response times may vary for you with GO Markets, but this was our experience sending 10 emails at varying times.

The team resolved and answered our queries. Overall very good email support from GO Markets.

Phone Support at GO Markets

We called GO Markets and the call was answered very quickly. The call was answered in less than 1 minutes.

The GO Markets phone support team were able to successfuly answer our questions and issues over the phone. We tested the multilingual GO Markets team by calling in varying languages. GO Markets made an effort to make sure our queries were answered.

Overall great phone support from GO Markets.

See how GO Markets Support Compares Against Other Brokers

Broker	GO Markets	XTB	eToro	Pepperstone
Support	Live chat Phone support Email support	Live chat Phone support Email support	Live chat Phone support Email support	Live chat Phone support Email support
Languages	English, French, Chinese, Spanish, Arabic	English, Spanish, Czech, Chinese, German, French, Italian, Polish, Portuguese, Romanian, Slovenian, and Turkish	English, German, Spanish, French, and Italian	English, Spanish, Polish, Chinese, Japanese, Korean, Vietnamese, and Arabic
Learn More	Visit GO Markets	Visit XTB	Visit eToro	Visit Pepperstone
Risk Warning	Losses can exceed deposits	Your capital is at risk	62% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.	CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73.6% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money

What you will need to open an account with GO Markets

As GO Markets is regulated by Australian Securities and Investment Commission (ASIC), every new client must pass a few basic compliance checks to ensure that you understand the risks of trading and are allowed to trade. When you open an account, you'll likely be asked for the following, so it's good to have these 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 confirm how much trading experience you have, so it's best to put aside at least 10 minutes or so to complete the account opening process.

While you might be able to explore GO Markets's platform straight away, it's important to note that you won't be able to make any trades until you pass compliance, which can take up to several days, depending on your situation.

To start the process of opening an account with GO Markets you can visit their website here.

CFDs are leveraged products and can result in the loss of your capital. All trading involves risk. Only risk capital you're prepared to lose. Past performance does not guarantee future results.
This post is for educational purposes and should not be considered as investment advice. All information collected from https://www.gomarkets.com.au/ on 12th August 2018.

GO Markets review written by Andrew Blumer and Mark Hansen