Go Markets Review

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

Go Markets is one of the premier binary options 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. GO Markets is 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).

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Details

Broker Go Markets
Website URL www.gomarkets.com.au
Founded 2004
Headquarters Go Markets Pty Ltd . Melbourne( VIC, Australia )
Support Number 1800 88 55 71 ( Australia ) , 0800 45 1150 ( New Zealand ) , +44 203 637 7618 ( UK )
Support Types Online Chat , Email , Phone
Languages English , Chinese
Trading Platform WebTrader | MT4 Trading Platform for desktop, iPhone & Android
Minimum 1st Deposit $200 AUD
Minimum Account Size $200 AUD
Minimum Trade Amount $5 AUD
Bonus Cashback Refund up to $250 AUD ( only FX trades )
Max. Payout 80%
Leverage 300:1 ( Forex )
Demo info from 0.5 pips ( Forex )
Free Demo Account Open Demo
Regulated Yes
Regulation ASIC ( AFSL 254963 )
Account Types Standard Account ( min.deposit of $200 ) , Pro Account ( min.deposit of $1000) , Plus+ ( min.deposit $500 )
Deposit Methods Credit Cards , Skrill , Poli , BPay , Bank Transfer
Products Forex Trading , Binary Options
Number of Assets 50
Expiry Times 1, 2, 5, 10, 15, 20, 30 and 60 minutes
Types of Assets currencies, commodities, indices
Binary Options Types Up & Down , Short Term ( 60 minutes, 5 minutes and 10 minutes
Account Currency AUD , USD , GBP , EUR , NZD , SGD
Australian Regulated Yes
Mobile Trading Yes
Tablet Trading Yes
Overall Score 97/100

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: 28th February 2018

About GO Markets company


GO Markets Review - Binary Options and Forex

What is GoMarkets ?

Go Markets is one of the premier binary options 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. GO Markets is 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).
At the beginning, Go Markets solely focused on becoming a trusted broker focused on clients who are interested in trading Forex. However, over the years, they have gradually increased their range and reach. Currently, Go Markets offers several derivative assets, including Contracts for Difference (CFDs) and offers assets for trading in Forex, commodities, stock indices, and cryptocurrencies.

As one of the pioneers of online trading in Australia, Go Markets has thrived to introduce cutting-edge financial platform in the market and recently they partnered with Currenex to offer more liquidity and a robust trading experience to their clients.

Instead of focusing on luring binary options traders with lucrative offers, GO Markets has 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

Metatrader 4

GO Markets- Trading platform

 

Since GO Markets is primarily a Forex broker, their trading platform is mostly geared towards traditional trading that involves buying and selling various asset classes like Forex currency pairs, various commodities, and cryptocurrencies.

However, within the same MetaTrader 4 based trading platforms, GO Markets has integrated their binary trading offerings.

GoMarkets - Metatrader4 platform

Open a MT4 Account 

In order to trade binary options with GO Markets, 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.

To make the binary options trading more seamless, Go Markets utilized the same charting software as doing so makes it much easier for their clients to trade within a familiar trading environment. In fact, during our tests, it appeared that we can analyze the assets with exactly the same technical analysis tools within Meta Trader 4, but place binary options orders instead of trading Forex.

Go Markets - binary options platform

As you can see from the screenshot above, once you have properly installed the binary options plugin we mentioned above, double-clicking any .bo assets on the Market Watch window in Meta Trader 4 will bring up the binary options trading prompt, where you can select the investment amount, asset symbol as well as the expiry time. Once you have made up your mind about placing an order, all you need is click on the Up or Down buttons, which are conveniently labeled with Green and Red colours, respectively.

In fact, to make life easier, GO Markets will show the exact payout ratio for the trade and trade return based on your investment amount before you place your order. This way, binary options traders will always know exactly how much they will gain from each trade if the trade turns out to be a winner or how much they are risking in case the trade does not go in their predicted way.


MT4 Genesis

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.

MT4 Genesis also offers a sophisticated order management system that allows easy access to your existing open orders. Furthermore, binary options traders can create and receive trading alerts with MT4 Genesis based on their preset criteria. With the instant alerts system, you will be notified the momentum the market has developed a trading opportunity based on your trading strategy so that you do not miss any trading opportunity!

Mobile

 

go-markets-mobile-2

 

Types of Accounts / DemoGo Markets Accounts

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

While basic offerings like leverage are 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 $200 deposit in their account as opposed to the $1,000 minimum deposit requirement for the Pro account.

Recently, Go Markets started offering another exclusive account type known as PLUS that comes with a dedicated account manager and it requires a minimum $500 deposit in order to open the account. One of the perks of the PLUS account with Go Markets is the ability to enjoy raw spreads that starts from 0.0 pips. It means that PLUS account holders will be able to trade without paying any fees to Go Markets at all!

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 commodities, indices, and cryptocurrencies. Some of the popular assets for binary options trading offered by Go Markets are 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 straightforward. 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 making a minimum deposit of $1,000. On the other hand, to open a PLUS account, you need to only deposit $500 and can start trading with Go Markets.

Currently, GOMarkets 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.

Promotions / Bonuses

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

Currently, They are 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.

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

GOMarkets 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 are 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. They 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 features of GO Markets 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 GO Markets 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, Go Markets has 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 Go Markets customer support in Australia during business hours, which is Sunday, GMT 21:00 to Friday GMT 21:00.

During our research for this review, we made several test calls to their customer support desk and found their staff on duty to be very helpful and knowledgeable about the subject matter. Usually, most binary options brokers do not invest in their human resources and try to beat competitors by offering promotions and cutting costs of trading in terms of spreads and commissions. However, it appeared that Go Markets took the time to properly train their support staff and they understand the nature of this business.

GOMarkets Review: Conclusion

GO Markets is one of the handful of 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 GOMarkets 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 is 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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