GO Markets review: A trading platform for stocks, forex and CFDs
- Standard brokerage fee
- $7.70
- Available markets
- ASX
- Support
- Phone, Email, Live chat
Summary
Go Markets is a full service broker that allows Australian investors to buy ASX shares and trade forex and other CFD products.
GO Markets is an Australian online share trading and CFD broker. It offers multiple account options depending on what you're after. If you plan to buy and sell shares directly, you can sign up to the Go Markets Share Trading Platform to access ASX stocks. If you prefer to trade forex or other CFD products, you have the Go Markets' CFD trading accounts.
Pros
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Free education and training tools. GO Markets offers webinars and video tutorials for both beginners and veteran traders who may need a refresh.
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Live chat. Connect with Expert Advisors (EAs) for trading advice and expertise.
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Three-step activation. Simply open a live account, load funds and start trading.
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Easy access. You can access your GO Markets trading account from your PC, Mac, iOS or Android mobile device.
Cons
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Limited trading. 24/5 trading and live chat.
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No guaranteed stop-loss. GO Markets does not provide guaranteed stop-loss orders to traders.
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No direct global market access. You can only purchase ASX stocks directly - global stocks are only available via CFDs.
Details
Share trading details
| Type of broker | Online, Mobile |
| ASX products | Shares |
| Available markets | ASX |
| Standard brokerage fee | $7.70 |
| Support | Phone, Email, Live chat |
| More Info |
Forex details
| Type of broker | Online/ Mobile/ Full Service |
| Available markets | Forex, commodities, cryptocurrency, share CFDs, indices, metals |
| Minimum Spreads for Major Currencies | From 0.1 - 0.3 pips |
| Commission | $0 |
| Minimum opening balance | $200 |
| Minimum Trade Size | 0.01 lot |
| Leverage | 1:1 - 30:1 |
| Platforms | MetaTrader 4 MetaTrader 5 Mobile Trading Platforms WebTrader Social Trading: Myfxbook |
| Support | Phone, email, live chat |
CFD details
| Type of broker | Online/ Mobile/ Full Service |
| Available CFD markets | Commodities, Cryptocurrencies, Global Stocks, Indices, (CFDs only) |
| Commission - ASX 200 Shares | $0 |
| Minimum Opening Deposit | $200 |
| Platforms | MetaTrader 4 MetaTrader 5 WebTrader Mobile Trading Platforms |
| Support | Phone, Email, Live Chat |
| More Info |
About Go Markets
Go Markets is a trading platform that offers both share and ETF trading and CFD trading accounts.
The Go Markets Share Trading account lets you directly buy and sell ASX stocks and ETFs while the CFD account GO WebTrader offers leveraged CFD trades on shares, forex, commodities, metals and indices.
What are the share trading account fees?
New customers pay $0 brokerage on the first 15 trades and then pay a flat brokerage of $7.70 on trades of up to $100,000. After that brokerage is 0.05% of your trade value.
What are the CFD trading fees?
GO Markets offers two types of CFD trading accounts and three trading position sizes.
| Inclusions | Standard Account | Plus+ Account |
|---|---|---|
| Minimum opening deposit | $200 | $200 |
| Minimum contract size | 0.01 (micro lot) | 0.01 (micro lot) |
| Leverage | 1:1 - 30:1 | 1:1 - 30:1 |
| Commission | $0 | AUD$3.00 per side (1 standard contract) |
| Spreads | From 0.8 pips | From 0.0 pips |
All account holders have 24/5 access to support teams and analysts.
GO Markets asks that you allow 1-2 days for withdrawals within Australia and 3-4 for international users.
| Inclusions | Standard Contract | Mini Contract | Micro Contract |
|---|---|---|---|
| Trade size (units of currency) | 100,000 | 10,000 | 1,000 |
For casual traders, GO Markets suggests a standard account in conjunction with either a mini or micro contract, limiting risk while you experiment.
You will enjoy tighter spreads with a Pro Account, but you'll also incur a commission for every trade you place.
What CFD trading platforms are available?
MetaTrader 4 is the platform of choice for GO Markets, and Mac, PC and mobile versions are offered for users who want to trade absolutely everywhere they go.
MT4 is compatible with Mac OS, Windows, iPad, iPhone and Android devices; simply download the software to your computer, tablet or smartphone and you will able to access the platform wherever you need.
Long considered the trading platform of choice, GO Markets now offers MT4 Genesis, which is an enhanced tool suite for MT4 that works for Commodities, Indices and Forex.
Go Markets CFD features
| Feature | Description |
|---|---|
| Spread fee | Yes. Standard Account from 0.8 pips. Plus+ Account from 0.0 pips. |
| Education and resources | Yes. Video tutorials and trading webinars are available. |
| Does it offer fixed spreads? | No |
| Leverage | Leverage of 1:1 - 30:1 |
| Is it MetaTrader supported? | Yes |
| Minimum deposit required | $200 |
| Compatible devices | Windows, Mac iOS, iPhone and Android |
| Guaranteed stops | No |
| Payment methods | Bank transfers, BPAY, Skrill, Neteller, PayID and credit/debit card deposits |
| Promotional bonus |
|
| 24-hour trading | No |
| Demo account available? | Yes |
What are the benefits of using this provider?
- A virtual private server (VPS) is free to users with a live trading account, who maintain a minimum of $3,000 per month (the service is otherwise available to users at $30 per month).
- Access to forex (50+ currency pairs), commodities (gold, silver and oil) and indices.
- MT4 is mobile friendly, allowing you to trade remotely or on-the-go.
Available currency pairs
Using the MT4 platform, GO Markets offers over 50 forex pairs for trade, including the major currency pairs below:
- EUR/USD
- USD/JPY
- GBP/USD
- USD/CHF
- USD/CAD
- USD/AUD
Trade CFDs on cryptocurrency
You might find trading cryptocurrency futures to be an attractive alternative to buying outright.
You don't need your own cryptocurrency wallet, and as you're speculating on prices using CFDs, you can still benefit from changes in value, whether up or down.
GO Markets lets you speculate on bitcoin and Ethereum, offering:
- BTC/USD
- ETH/USD
In both cases you can trade up to 20:1 fixed leverage positions.
How do I sign up?
GO Markets offers an easy online form for individual applicants to complete. You will need to provide a couple of details before you proceed:
- The account type you want to register.
- A basic knowledge of Margin FXs and CFDs (questionnaire is included in application).
- The minimum opening cost pertaining to your selected account type.
- To fill out the form you will need to:
- Provide your name, date of birth and contact details
- Complete a questionnaire about your knowledge of margin forex and CFDs
- Provide proof of ID
- Choose your account type and arrange the relevant minimum opening deposit
GO Markets responds to all new account enquiries within 24 hours.
If you're unsure of whether you want to open an account with GO Markets, a free demo account is available for you to explore. Practice trading in Forex, Commodities and Indices with up to $100,000 in virtual funds.
Frequently asked questions
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