GO Markets Review (2024) – Pros and Cons Revealed
Navigating the world of forex trading can be a daunting task, especially for beginners. With a plethora of brokers vying for your attention, it's crucial to make an informed decision based on a thorough evaluation of their offerings. This review delves into the intricacies of GO Markets, a reputable forex broker with a global presence, to help you determine if it aligns with your trading goals.
Introduction
GO Markets, established in 2006, has carved a niche for itself as a trustworthy forex and CFD broker, catering to traders worldwide. Headquartered in Melbourne, Australia, the company boasts regulation from the Australian Securities and Investments Commission (ASIC) and the Cyprus Securities and Exchange Commission (CySEC), ensuring adherence to stringent financial standards.
Trading Platforms
GO Markets provides traders with two robust trading platforms: MT4 and MT5, both renowned for their user-friendliness and advanced charting capabilities. MT4, the industry standard, offers a comprehensive suite of technical indicators and drawing tools, while MT5, its successor, boasts enhanced features, including market depth and hedging capabilities.
Product Offerings
GO Markets presents a diverse range of over 700 tradable assets, encompassing forex pairs, indices, commodities, and shares. This extensive selection caters to a wide spectrum of trading strategies and risk appetites.
Spreads and Commissions
GO Markets' spreads are generally competitive, starting from 0.0 pips on major forex pairs. The broker employs an ECN (Electronic Communication Network) execution model, ensuring transparent pricing and minimal order execution delays. Commissions are charged on CFD trades, with rates varying depending on the asset class.
Account Types
GO Markets offers three primary account types: Standard, Standard Swap-Free, and VIP. Each account caters to specific trading needs, with varying minimum deposit requirements and commission structures.
Education and Research
GO Markets prioritizes trader education, providing an array of resources, including webinars, video tutorials, and market analysis reports. These tools empower traders to enhance their market knowledge and refine their trading strategies.
Customer Support
GO Markets maintains a dedicated customer support team, available 24/5 via live chat, phone, and email. The team is well-versed in addressing trader queries and resolving issues promptly.
Pros
Regulated by tier-1 regulators (ASIC, CySEC)
Competitive spreads and commissions
Extensive product range (over 700 assets)
User-friendly MT4 and MT5 trading platforms
Robust educational and research resources
24/5 multilingual customer support
Cons
Limited product offerings compared to some competitors
No guaranteed stop-loss orders
No direct global market access (ASX stocks only directly, global stocks via CFDs)
Overall Verdict
GO Markets stands out as a reliable and well-regulated forex broker, particularly appealing to traders seeking a user-friendly platform, competitive pricing, and comprehensive educational resources. While its product range could be broader, GO Markets remains a solid choice for both novice and experienced traders navigating the forex landscape.
