GoMarkets Review

MIN. DEPOSIT $200
Up to 300;1
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Overview

Company Information Gomarkets is one of the most famous Australian forex and commodities online broker. The platform is owned by the GO Markets PTY Ltd. and is online since 2006…. more

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Details

BrokerGoMarkets
Website URLhttps://www.gomarkets.com.au/
Founded2006
HeadquartersMelbourne, Australia
Support NumberAUS 1800 88 55 71; EUR +44 (0)20 3713 4490; INT +61 3 8566 7680
Support Emailsupport@gomarkets.com.au
Support TypesPhone, Live Chat, E-mail
LanguagesEnglish, Chinese, Cantonese
Minimum 1st Deposit$200
Minimum Trade Amount0.01 lots
BonusCash back
PayoutUp to 300;1
Free Demo AccountYes
Regulated Yes
RegulationAustralian Investments and Security Commission (ASIC)
Account TypesStandard, PRO
Deposit MethodsPoli, Bank Transfer, Skrill, Credit/Debit Cards, China UnionPay
Withdrawal MethodsPoli, Bank Transfer, Skrill, Credit/Debit Cards, China UnionPay
Types of AssetsBinary Options, Commodities, Forex, Indices
Account CurrencyUSD, EUR, GBP, NZD, AUD, SGD
US Traders Allowed No
Mobile Trading Yes
Tablet Trading Yes

Full Review

Company Information

Gomarkets is one of the most famous Australian forex and commodities online broker. The platform is owned by the GO Markets PTY Ltd. and is online since 2006. Their headquarters are located in Melbourne, Australia, but they also have an office in the Netherlands. The company is licensed by the ASIC and AFSL. Since its creation Gomarkets strives for unmatched customer service and the best online trading experience. They offer some of the lowest spreads in the industry and fast execution of trades. Traders all around the world join to platform to take advantage of the best trading tools and features proven for almost a decade in the business. The broke has mostly clients from Australia but looks to expand its popularity worldwide by offering some excellent trading options and promotions. For now, traders from the US are forbidden to register on the site. They have earned multiple awards in Australia for their customer support and excellent feature.  Let’s see what this Australian online broker has to offer.

 

Trading Information

Gomarkets have been in the trading game for a long time, and they know that the best way to attract more clients is by giving them excellent spreads. That’s why they’re giving spreads as low as 0.5 for some currency pairs. Most of the large spreads are around the industry’s standard: EUR/USD 1.5 pips, GBP/USD 2.1 pips and USD/JPY 1.9. We wish the currency pairs where more (currently 25) but they are still enough for the experienced trader. Maximum leverage is set to 500:1 which is also pretty standard for an online forex broker. Their trading and investment tools list are full of trading opportunities like stop order, limit order, market order, OCO orders, trailing stop order and others. It also supports one click trading and 24h trading. For traders who like to stay in touch with news and charts, they have a streaming news feed and charting package. Features like email alerts and mobile alerts are also made available. Telephone orders are supported by people who don’t have the time to place them on their mobile or desktop device. They offer four types of accounts: Individual, Joint, Company and Trust or Superannuation Fund . Scalping and hedging are allowed in every type. And finally, maybe the best feature in Gomarkets is that there is no dealing desk. It means traders can act fast and not loose precious time when placing orders.

 

Trading Platforms

As far as trading platforms are concerned Gomarkets bets on the trusted and stable Metatrader 4. It’s a proven platform that offers most of the features that a modern trader needs and is a good choice for every nowadays online broker. You can also use the Metatrader 5 platform which offers a more sophisticated design and some cool charting features. Mobile versions of the MT4 are available for download by people who are away from their desktop computers. Gomarkets scores some points in the meaning of platforms for offering their web-based platform that doesn’t require any additional downloads. Providing such a feature is very helpful for people who don’t like to install additional stuff and just log in and start trading. Maybe in the future, we will see something new that offers other unique features. For now, Gomarkets have fulfilled all the platform requirements.

 

Security and Customer Services

As we already mentioned in our review Gomarkets have done their best in the customer support and satisfaction department and have already earned some awards for it. For starters, they use the very secure and proven SSL encryption on their site. This means all personal data is well protected and secure from online thieves. When funds are concerned Gomarkets, have made the effort to create segregated accounts. This means your money are deposited in a Tier 1 bank and are separate from all others. The platform is translated in two languages English and Chinese. However, customer support is available only in English. Contacting them is very easy with five methods available. You can write an email, call them on the phone, go directly to the office, use live chat or fill out a web form. Response times for the email and contact form options are very quick. For traders who don’t have much experience with the platforms there are a lot of educational material and a 7-step program for all beginners. The Demo account is there for all people who like to test the platform first and experience the market at first hand.

 

Deposits and Withdraws

Depositing money into your Gomarkets account is made easy, and there are plenty of banking methods available. You can deposit your funds using your credit and debit card. There are also several digital wallets like Skrill and Paypal you can use. There is a total of six different currencies you can deposit into your account. Minimum deposit is $500. Withdrawals are made using the banking method you deposited the money. There are no internal fees charged for deposit and withdrawal. However, this is somewhat confusing as there is the 1.75% fee for credit and debit cards deposit and the 2,5% for Skrill and 3% for Neteller fees mentioned on their site.

 

Deposit Bonus and Loyalty Programs

Taking a quick look at their promotions page will tell you that this broker takes their bonuses seriously. There are over six promotions available there, and they are quite tempting. For people who have made a new account, there is a “New Account Holder $250 Cash Back Refund Offer”. This bonus will give you the opportunity to cover a net trading loss of $250 for your first month of trading. Another tempting promotion that is used by many online brokers is the “Refer a friend” bonus. You’ll get $100 for every friend that makes an account. If you fund your account with $500 or more, you’ll receive a 10% trading bonus.

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