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: April 22 2019



About GOMarkets company

Go Markets is one of the premier binary options brokers operating in the Australian financial market. GO Markets started a business in 2006. It has constantly thrived to offer state of the art financial products for enthusiastic traders.

GO Markets is a brand of GO Markets Pty Ltd. It is an Australian business with ABN of 85 081 864 039. Its ACN 081 864 039 and acts as an Australian finance company. Also, it is regulated by the Australian Securities and Investments Commission ASIC. Its AFSL registration number is 254963.

Scam or

In the beginning, Go Markets solely focused on becoming a trustworthy broker. But in recent years, it mainly tries to attract clients who want to trade Forex. Consequently, it has gradually increased range and reach. Currently, Go Markets offers several trading derivative assets. Such assets include Contracts for Difference (CFDs), Forex, commodities, stock indices, and cryptocurrencies.

GO Markets is one of the pioneers of online trading in Australia. Moreover, it has thrived to introduce cutting-edge financial platform in the market. Recently, it started working with Currenex to offer more liquidity and robust trading experience to their clients.

Most brokers in Australia are focusing on luring binary options traders with lucrative offers. Nonetheless, GO Markets has built its reputation as a premier financial company that invests heavily on developing the infrastructure. It also offers top class order executions compared to the competitors in the market.

Trading Platforms

Metatrader 4

 

GO Markets is primarily a Forex broker. Its trading platform is mostly focusing on offering traditional trading. It involves buying and selling various asset classes. Such as Forex currency pairs, various commodities, and cryptocurrencies.

GO Markets mainly offers MetaTrader 4 based trading platforms. It has also made binary trading part of its products o services.

Open a MT4 Account 

FX Lite

For trading binary options with GO Markets, clients need a separate MT4 plugin called FX Lite for MT4 platform. Once the plugin is setup, it would show a separate login screen. Here, you can login using your existing MT4 account credentials.

To make the binary options trading more seamless, Go Markets utilized the same charting software. Doing so makes it much easier for their clients to trade within a familiar trading environment. During our tests, we could analyze the assets with exactly the same technical analysis tools from Meta Trader 4. But we could also place binary options orders instead of trading Forex.

The screenshot above shows a proper setup of 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. Then, 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. These are conveniently labelled with Green and Red colours, respectively.

In fact, to make life easier, GO Markets will show the exact payout ratio for the trade. It will also show the trade return based on your investment amount. This information is on display 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 a loss, you will know how much you are risking.

MT4 Genesis

GO Markets also offers the MT4 Genesis to enhance the binary options trading experience. It 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. It does so by offering a newly designed terminal window. There is also the Mini Terminal, Session Map, Correlation Trader, and, Sentiment Indicator.

MT4 Genesis also offers a sophisticated order management system. This system allows easy access to your existing open orders.

Furthermore, binary options traders can create and receive trading alerts with MT4 Genesis. It is based on their preset criteria. Moreover, with the instant alerts system, you will be notified of the momentum the market has developed a trading opportunity. This way, you execute your trading strategy and will not miss any trading opportunities!

Mobile

 

go-markets-mobile-2

 

Types of Accounts / Demo

GO Markets offers three types of accounts. The Standard Account and a Pro Account. These different accounts help beginners and experienced traders, respectively.

The basic offerings like leverage are fixed on both accounts. Other fringe services include VPS, access to Auto chartist, and MT4 Genesis. These are for the Pro Account holders.

However, Standard Account holders can also enjoy these services by making a $200 deposit in their account. But to open the Pro Account, you will need a $1,000 minimum deposit.

Recently, Go Markets started offering another exclusive account type known as PLUS. It comes with a dedicated account manager. But it requires a minimum $500 deposit in to open the account. One of the perks of the PLUS account with Go Markets is the ability to enjoy raw spreads. Here, the spread 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 a 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

The minimum deposit requirement of GO Markets for its respective accounts is straightforward. For Standard Account, binary options traders need a minimum $200 deposit. Experienced binary options traders should open a Pro Account. It requires making a minimum deposit of $1,000. To open a PLUS account, you need to only deposit $500 and can start trading with Go Markets.

Payout

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.

Deposit and Withdrawal Methods

Go Markets offers binary options trading accounts in several currencies. Including the Australian Dollar (AUD). Besides, you can also open accounts in US Dollar, 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. These deposits are processed instantly.

GO Markets also support third-party payment processing companies like Skrill and PoLi. For Australian account holders, GO Markets accepts the popular BPay payment method. As an international client of GO Markets, you can make deposits using international bank-to-bank wire transfer too.

One of the best features of GO Markets is that they do not charge any additional fees for withdrawing profits. It 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@Go Markets.com.au 

Its official address is Level 50, 120 Collins Street, Melbourne, VIC 3000, Australia.

Go Markets has also listed three dedicated phone 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) during business hours. They are open from 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. We found their staff on duty to be very helpful and knowledgeable trading. 

Usually, most binary options brokers do not invest in their human resources. Instead, they try to beat competitors by offering promotions. Or by 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. It led us to believe that 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. It helps them provide more liquidity to their customers. Moreover, its state-of-the-art trading infrastructure helps binary options traders execute their trades at a faster speed. We found the executive time is faster than competing brokers in the Australian market.

Having two separate accounts allows GO Markets to cater to both beginner and professional traders. Furthermore, the lower minimum deposit Standard Account allows starting traders to try out their strategies with less risk. This way, traders can invest more as they gain more experience.

GO Markets is one of the most reputed Forex brokers. It is catering to the growing binary options market in Australia. If you are considering giving 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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