GOMarkets.com Review

I have been trading with GoMarkets on live accounts with MT4 for well over 10 years. Over that time I have run into a few technical problems with MT4. I have generally found GoMarkets tech support appalling but since I have an IT background I have always managed to sort out the problems by myself.

A week or so ago Metatrader did an automatic upgrade of MT4 to version 4.00 Build 1320 and I immediately started experiencing a strange problem which I have been unable to resolve.
Sometime MT4 works normally but at other times, often for several hours at a time it will come up with a zero account balance even though there is a substantial amount of money in the account. Then after an indefinite period of time (often many hours) it will reconnect and start working again. I have tried all the usual stuff such as rebooting the computer and re logging into the account multiple times etc as well as monitoring network traffic, cpu usage etc but I haven't as yet been able to figure this one out.

I contacted GoMarkets tech support a few days ago but I am just being given the run around. First they told me I needed a faster internet connection. I have NBN fibre optic with a 5Ghz connection. You don't get much better than that in Australia. I have been using this network for many months with Metatrader without a problem. In any case, the way I trade, the internet data requirements for MT4 are very modest. Data usage is typically only about 100 megabytes a day so my NBN fibre optic network is vast overkill.

The next thing they tried to tell me was that their IT dept had monitored my internet connection and it was faulty. I am curious how they managed to do this without having access to my network which I most certainly haven't provided them with. They sent me a list of my attempted logins as proof of their claim. To my way of thinking it proves the opposite. If my internet connection was faulty I wouldn't be able to log in at all. My multiple login attempts take place when MT4 is showing zero balance (i.e not working). Of course the internet connection works fine for everything else at these times.

I tried accessing the account with an older version of MT4 using the same internet network and at the same time as when the current version of MT4 wasn't working. The old version appears to work fine but the new one doesn't. Since this is an intermittent problem with the new version this unfortunately is not conclusive proof.

It looks to me very much like this problem has somethng to do with the MT4 upgrade but the support people at GoMarkets won't have a bar of this and have basically just fobbed me of and told me to fix my internet problem.

Not only can't I trade at the moment but I am really frustrated by GoMarket's complete lack of competent technical support together with a general unwillingness to even try and help. It really makes me wonder if the rest of the company is run in similar appallingly bad way. If so it seems to be that it might be time to move to another broker who can offer amongst other things reasonable technical support.

This post is to report on my highly unsatisfactory experiences with GoMarkets technical support. I apologise for all the techo stuff but I thought it necessary to provide a full and accurate account of my experiences. I was also wondering if anybody else has experienced anything similar to this with GoMarkets or MT4.

First off, let me tell you that I last traded with Go Markets in 2014 and hence my review is not based on latest practices. The only reason why I came here to write this is the overwhelming negative feedback on this broker for WITHDRAWALS which according to me seems totally fake!

In 2014, I deposited US$5k and converted that to $18k in one month after some crazy stupid trading and using excessive leverage - I sent a withdrawal request and it was super fast with, of course, no questions asked. I will not comment on spreads / swaps / comms. since i wasn't even bothered about it back then so never paid any attention on that front!

This is 2020 - Markets are highly regulated - no broker on this planet would stop you out by creating some fake price moves or spike up the spreads only to get your 1 micro lot or 1 mini lot stopped out - I think its high time that traders take responsibility of their own actions instead of making their broker a scapegoat.

We can compare feeds from different brokers and check their OHLC and compare LIVE spreads on myfxbook 24/5.

Its an irony that I made profits with Go Markets (Who dont claim to be pure play ECN) and I lost a lot of money with DMA brokers - The point is - It all boils down to us, as traders. When I made profits with Go Markets - it was luck based (No withdrawal issues at all) and when I lost money with DMA broker, it was purely because of my trading psychology issues - I cannot and will not pass that blame to the broker

using xauusd stop loss was triggered way not what on other brokers.unsure why but reading reviews others have had same problems.why i dont understand,if you make money losing or wining for the broker why does he want you to lose or have i made a mistake in thinking this?.
Im scared of trusting this broker ater reding reviews simiar to mine.
Robert

Signed up 1st week of May, deposited £150, as their minimum was $200AUD, £150 is well over their minimum required - started trading on the 8th.
Everything was great, overall I was on a loss, but I had no complaints about the quality of the Broker.

Came to trade today, 8 weeks nearly since I initially funded the account they've deactivated my trading ability stating I need to submit an extra £50.
They then link me to T&Cs which still clearly state $200AUD, at the time of writing £150 is nearly $300AUD.

Crazy shady practices - apparently its a "system error" - but no efforts have been made to turn my account back on until they receive the extra £50.

AVOID.

4years with go and no issues, great customer service and never been requoted or not filled on a trade

I funded my account in 5 seconds, after a month I made some money and I wanted to withdraw it. At the first, I tried to withdraw via Neteller and it failed, because they have a licensing issue with both Neteller and Skrill even they did not mention that on their website. I didn't care that too much and I tried to withdraw via credit card. Guess what? It's also FAILED, the reason is unknown. So, I tried to withdraw via bank transfer. I do not live in Australia and my bank does not BSB code (which is required for domestic money transfer in Australia) that's why I can't even add my bank account to give a withdrawal order. If they won't going to give my money, I will go to ASIC, because they do not warn your about their unvalid both Skrill and Neteller license and also they do not have proper payment system for international money transfer. I sent an email to their funding team, I will let you know about result on Monday. Be careful, if you are an international trader. You could have a such a hard time to get your money.

Quite honestly I don't understand the negative reviews on this company ! I've been with Go Markets for 3 1/2 years now and all I can say is they're not only very friendly and helpful, but also 100% correct - after all, they're highly regulated. They even helped me out recently (to their own detriment) when I got hit by the flash crash on 03.01.19.
I've been with so many brokers till now, but this one beats them all when it comes to competence and fairness. As for widening spreads etc. (see negative reviews), all companies do this in times of low liquidity - after all, brokers also carry risks !
All in all, I'm perfectly satisfied with Go Markets !

I have been trading with gomarkets since 2013. I have made a decent profit (approx. 3 to 4 times of my initial investment). They have always processed my withdrawal on time. I am super confident to say that they have THE Best support services.
I will strongly recommend this company. Their spreads and execution is as good as prime broker.

they manipulate courses and make big moves to close your positions
SCAM
this only one word to describe this
they simply use dirty tricks.

Hello guys. Be aware of this broker. They accept only loosing customers. I'm a signal provider. Me and few people was blocked when we reach profit 2.5K GBP.

Them policy let them block binary options for no any reason. Not sure how about the law. But it's very tricky. That method let them control people.

They will close opened positions. They will block your account if you can make money. All my customers are blocked for now. All was in the profit. Support said that our trades are toxic for them. Then they show me them policy that they can block any time without reason. I will let know to regulation institutions.

Aug 6, 2018 - No Rating Hi they blocked my wife account as well after she won 2500 GBP.

We had a talk with support today:

Klavs
Customer support

Anh Quynh Ngo
Hi why i cannot open options?
Chat started
Jide joined the chat
Jide
Hi
How can I help you today?

Anh Quynh Ngo
the question is above
Jide
please confirm your account number

Anh Quynh Ngo
898871

Klavs joined the chat
Jide left the chat

Klavs
Hi Anh! I will take over from my colleague.
Can you confirm your name, date of birth, address and balance, please?

Anh Quynh Ngo
what is the problem with my account?

Klavs
Can you confirm your name, date of birth, address and balance, please?
Anh Quynh Ngo

Quynh Anh NGO, ********

Klavs
Thank you!
You will need to email our Support Inbox so we can look into the issue. The email address is support@gomarkets.com
We will get back to you within 24 hours.

Anh Quynh Ngo
i have not time to play with you guys
let me know whats wrong with my account
last time you blocked my husband binary options account when he was in profit and now you do the same
whatever
i will forward this case to the forex peace army and also i will take legal action because i live in England as well

Klavs
You will need to email our Support Inbox, Anh. The matter will be looked into and one of my colleagues will get in touch with you directly.

Anh Quynh Ngo
so whatever you write here people on Forex Peace Army will read
so you do for me
for this is this support

Klavs
I'd like to advise you that we are regulated by ASIC.
That is not a problem at all, you can screenshot this chat for your own record.

Anh Quynh Ngo
maybe you are regulated but is not mean you are honest
i do not care about your regulation, just do not waste people time
of course i will, i know what to do
Klavs
I understand your frustration, Anh. As I said, please send your query to support@gomarkets.com
Thanks for your patience and understanding.

Anh Quynh Ngo
you are just bullshit
for what is this support?

Klavs
To support the clients, Anh.
I have advised above on what the next steps are you as the matter needs to be looked into.

Anh Quynh Ngo
Its your job because you work for support. Whatever.
You are not helpfull when get trouble, but when open account you are fast.

Jul 3, 2018 - 1 Star They block my account after i eanr 1000 GBP last month. The reason they gave me is ,,your trades are toxic for our broker,, They lock all binar optios up to 15 minutes expiry where is payout 75%. Still available are options with 70% payout. They want me bankrupt. They respect only people who are loosing money. Big greedy scam! Lucky they have office near by me. This is cyber crime.

Jul 2, 2018 - 1 Star Today is my 4th month of trading with gomarkets and the block my account without any inform before. I lost 300 GBP today. They give me a bulls*** excuse that my account was blocked by Trading Team. I earn only 2000 GBP in few months and they already lock me. This is scam broker. They let you earn few pounds and no more. They accept only loosing customers.