Go Markets Review

Go Markets
Cashback Refund up to $250 AUD ( only FX trades )
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Overview

Page Contents1 About GO Markets2 Trading Platforms: MT42.1 Mobile3 Types of Accounts / Demo4 Assets Offered5 Minimum Deposit Requirements, Offered Bonuses/Promotions5.1 Promotions / Bonuses5.1.1 March Promotion:6 Payout7 Deposit and Withdrawal… more

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Details

BrokerGo Markets
Website URLwww.gomarkets.com.au
Founded2004
HeadquartersGo Markets Pty Ltd . Melbourne( VIC, Australia )
Support Number1800 88 55 71 ( Australia ) , 0800 45 1150 ( New Zealand ) , +44 203 637 7618 ( UK )
Support TypesOnline Chat , Email , Phone
LanguagesEnglish , Chinese
Trading PlatformWebTrader | MT4 Trading Platform for desktop, iPhone & Android
Minimum 1st Deposit$200 AUD
Minimum Account Size$200 AUD
Minimum Trade Amount$5 AUD
BonusCashback Refund up to $250 AUD ( only FX trades )
Max. Payout80%
Leverage300:1 ( Forex )
Demo infofrom 0.5 pips ( Forex )
Free Demo Account Open Demo
Regulated Yes
RegulationASIC ( AFSL 254963 )
Account TypesStandard Account ( min.deposit of $200 ) , Pro Account ( min.deposit of $1000)
Deposit MethodsCredit Cards , Skrill , Poli , BPay , Bank Transfer
ProductsForex Trading , Binary Options
Number of Assets50
Expiry Times1, 2, 5, 10, 15, 20, 30 and 60 minutes
Types of Assetscurrencies, commodities, indices
Binary Options TypesUp & Down , Short Term ( 60 minutes, 5 minutes and 10 minutes
Account CurrencyAUD , USD , GBP , EUR , NZD , SGD
Australian Regulated Yes
Mobile Trading Yes
Tablet Trading Yes
Overall Score97/100

Pros

  • Trade Binary Options with one of the largest FX regulated brokers in Australia
  • Quick Withdrawals in 1-2 business days
  • 50 currencies pairs to trade
  • 24/5 Customer Support from Melbourne office
  • Low minimum Trade of $5
  • Cashback Refund Offer ( up to $250 AUD )
  • Clients Funds in Segregated Accounts
  • Up to 80% ( Binary Options
  • Up to 300:1 Leverage ( forex
  • Free Educations Tools

Cons

  • They support few languages

Full Review

Latest Go Markets review: 16th March 2017

GO Markets Review - Binary Options and Forex

About GO Markets

GO Markets is one of the premier binary options and forex brokers operating in the Australian financial market. Since its foundation in 2006, GO Markets has constantly thrived to offer state of the art financial products for enthusiastic traders.

GOMarkets are a brand of GO Markets Pty Ltd (ABN 85 081 864 039 & ACN 081 864 039) and as an Australian finance company, they are regulated by the Australian Securities and Investments Commission (ASIC – AFSL No. 254963).

Instead of focusing on luring binary options traders with lucrative offers, they have built its reputation as a premier financial company that invests heavily on developing the infrastructure required to offer top class order executions compared to the competitors in the market.

Trading Platforms: MT4

GO Markets- Trading platform

 

Since GO Markets is primarily a Forex broker, their trading platform is geared towards traditional trading. However, within the same MetaTrader 4 based trading platform, they have integrated their binary trading offerings.

03_fx_lite

In order to trade binary options with GOMarkets, you need to download a separate MT4 plugin called FX Lite for MT4. Once the plugin is installed, it would show a separate login screen, where you can login using your existing MT4 account credentials.

04_options_trading

Once you have properly installed the binary options plugin, double clicking any .bo assets on the Market Watch window in MT4 will bring up the binary options trading prompt, where you can select the investment amount, asset symbol and the expiry time.

`GO Markets will show the exact payout ratio for the trade and trade return based on your investment amount. This way, binary options traders will always know exactly how much they will gain from the trade, if the trade turn out to be a winner.

06 Go Markets Review

07 Go Markets Review

To enhance the binary options trading experience, GO Markets has also introduced the MT4 Genesis, which is a comprehensive suite of MT4 trading tools.

MT4 Genesis is a set of expert advisers that can help binary options traders greatly enhance the trading experience by offering a newly designed terminal window, the Mini Terminal, Session Map, Correlation Trader, and Sentiment Indicator.

Mobile

 

go-markets-mobile-2

 

Types of Accounts / Demo

05_types_of_account

GO Markets offers two types of accounts, a Standard Account and a Pro Account, which are geared towards beginners and experienced traders, respectively.

While basic offerings like leverage is fixed on both accounts, other fringe services, such as VPS, access to Autochartist, and MT4 Genesis is reserved for the Pro Account holders. However, Standard Account holders can also enjoy these services by making a $500 deposit in their account.

GoMarkets offers a free Metatrader 4 Demo account with $100,000 in virtual funds.

Assets Offered

GO Markets offers a range of assets for binary options trading, including Forex, and two commodities pairs – XAG/USD and XAUUSD. Under Forex pairs, GO Markets currently offers AUD/CAD, AUD/CHF, AUD/JPY, AUD/NZD, AUD/USD, CAD/CHF, CAD/JPY, CHF/JPY, EUR/AUD, EUR/CAD, EUR/CHF, EUR/JPY, EUR/NZD, EUR/USD, EUR/GBP, GBP/AUD, GBP/CAD, GBP/CHF, GBP/NZD, GBP/USD, GBP/JPY, NZD/CAD, NZD/CHF, NZD/USD/NZD/JPY, USD/JPY, USD/CAD, and USD/CHF symbols for trading.

Minimum Deposit Requirements, Offered Bonuses/Promotions

The minimum deposit requirement of GO Markets for its respective accounts is straight forward. To open a Standard Account, binary options traders need to open an account with minimum $200 deposit. On the other hand, experienced binary options traders who wish to open a Pro Account would require to make a minimum deposit of $500.

Promotions / Bonuses

On Forex trades only, GoMarkets is offering a cashback refund up to $250 AUD.

Currently, GO Markets is offering a 10% deposit bonus for new accounts. In order to avail this limited time promotional offer, binary options traders need to make a minimum $500 and up to $5,000 deposit.

March Promotion:

Draw: Win a Bali holiday package ( 3 days – 4 nights )  or $100o Worth of travel vouchers.

Payout

GO Markets offers one of the highest payout ratios among regulated brokers based in Australia. For most of the assets, their payout ratio is 75%. However, on a few selected assets such as NZD/USD, GBP/USD, etc., they offer up to 80% payout for winning trades.

Deposit and Withdrawal Methods

This broker offers binary options trading accounts in several currencies, including, Australian Dollar (AUD), United States Dollar (USD), Great British Pounds (GBP), Euros (EUR), New Zealand Dollar (NZD), and Singapore Dollar (SGD).

There several deposit methods as well. For example, the most convenient method to deposit funds into your trading account would be Visa and MasterCard debit or credit cards, where the deposits are processed instantly. GO Markets also supports third party payment processing companies like Skrill and PoLi. For Australian account holders, GO Markets accepts the popular BPay payment method. If you are an international client of GO Markets, you can opt to make deposits using international bank-to-bank wire transfer as well.

One of the best feature of this forex platform is that they do not charge any additional fees for withdrawing profits, which is a welcome feature that other brokers can certainly follow.

Customer Support

Customers of this broker can avail customer support by emailing Go Markets at support@gomarkets.com.au and they have listed Level 50, 120 Collins Street, Melbourne, VIC 3000, Australia as their office address on the website.

Besides the option to reach them via email, They have also listed three dedicated numbers to serve different geographic locations. For example, customers from Australia and Europe can call two different numbers 1800 88 55 71 (AUS) and +44 207 621 8925 (UK), respectively. On the other hand, customers from other regions and countries can call another dedicated number (+61 3 8566 7680) to reach GoMarkets customer support in Australia during business hours, which is Sunday, GMT 21:00 to Friday GMT 21:00.

GO Markets Review: Conclusion

GO Markets is one of the handful of forex and binary options brokers in Australia that use the Currenex technology to provide more liquidity to their customers. This state of the art trading infrastructure helps binary options traders execute their trades at a faster speed compared using some of the competing brokers in the Australian market.

Having two separate accounts allows this broker to cater to both beginner and professional traders. Furthermore, having the Standard Account, that requires a lower minimum deposit, allows starting traders to try out their strategies with less risk and gradually invest more as they gain more experience.

GO Markets is one of the most reputed Forex brokers who are catering to the growing binary options market in Australia. If you are considering to give binary options trading a try, GO Markets could be a good option.

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Asif worked as a prop trader for almost a decade, and later he managed trading operations for one of the largest foreign exchange strategy developers in Europe. Currently, he works as a trading consultant to several brokers and writes on various tech and financial topics. You can reach him at contact@asifimtiaz.com

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