GOMarkets.com Review

2.806 · 223 REVIEWS

Formerly GoMarkets.com.au

Updated: Dec 21, 2020 · Visit site  · Is this your company?

GOMarkets is a forex broker. GO Markets offers the MT4, MT5 and WebTrader forex trading top platform. GOMarkets.com offers over 45 forex currency pairs, cfds, commodities, shares, indices, gold, silver, oil, bitcoin and other cryptocurrencies for your personal investment and trading options.


Other websites of this company include GoMarkets.com.au, GoMarketsAus.com

Broker Details

Minimum Trade Size: 0.01
Maximum Leverage: 500:1
Minimum to Open Live: $200
Established: 2006
Address: Level 22, 600 Bourke Street, Melbourne, VIC, Australia
Contact: support@gomarkets.com, 1800 88 55 71
Regional offices:
Regulators: ASIC #AFSL 254963
Prohibited countries:
Trading platforms: MT4, MT5, WebTrader
Web Trading: Yes
Mobile Trading: Yes
ECN: Yes
Currencies: (50+)
Cryptocurrencies: (4) Bitcoin, Litecoin, Ethereum
CFD: (200+) Gold, Silver, Stocks, Stock Indexes, Oil
EAs/Robots: Yes
News Spike Trading: Yes
Scalping: Yes
Deposit Methods: Bank Wire, VISA, MasterCard, BPAY, FasaPay, Neteller, Poli, Skrill
Withdrawal Methods: Bank Wire, VISA, MasterCard, BPAY, FasaPay, Neteller, Poli, Skrill

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2.806 · 223 REVIEWS
Forex Peace Army

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Traders Reviews

Melbourne, Australia,
Dec 18, 2020,
Registered user

Account Balance shows zero. Being fobbed off by technical support

Service use: Live

Length of use: over 1 Year

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.
Bahrain, Bahrain,
Nov 15, 2020,

Never had any issues

Service use: Live

Length of use: over 1 Year

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
2097, Australia,
Sep 13, 2019,
Registered user

stop loss wrong

Service use: Live

Length of use: over 1 Year

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.
Manchester, United Kingdom,
Jun 17, 2019,

Over 1 month of trading - Deactivated my account

Service use: Live

Length of use: 0-3 Months

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.

perth, Australia,
May 30, 2019,

4years with go and no issues, great customer service and never been requoted or not filled on a trade
May 10, 2019,
Registered user

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.
Jan 15, 2019,
Registered user

Go Markets is the best !

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 !
Adelaide, Australia (Inside the offices of GO Markets),
Jan 9, 2019,
Registered user

Honest & Reliable Fx Broker (I work for them and I'm leaving a fake review))

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.
Forex Peace Army
Review moderation team note
5 Star Rating removed.

This review came from the same IP used by a GO Markets employee in the FPA's forums.

Per FPA policy, the rating on this review has been set to Zero stars.

The FPA does not appreciate review spammers.
Sep 29, 2018,
Registered user

this only one word to describe this

they manipulate courses and make big moves to close your positions
this only one word to describe this
they simply use dirty tricks.
  2 traders have found this review helpful
London, United Kingdom,
Aug 8, 2018,
Registered user

probably scam

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:

Customer support

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

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

Anh Quynh Ngo

Klavs joined the chat
Jide left the chat

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?

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

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

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
i will forward this case to the forex peace army and also i will take legal action because i live in England as well

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

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
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?

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.
  1 trader has found this review helpful
Novak, Czech Republic,
May 23, 2018,

They blocked my account when I earned 10% in the first week. They want only loss clients. I'm still surprised how is it possible such as subjects can still exists today.
  1 trader has found this review helpful
Adelaide, Australia,
Jun 12, 2016,

Revived an email that due to Brexit the margin requirements will increase from 1-5% over the interim period. So unless I deposit money my account is finished 10k + down the drain. Depositing money is not the problem and I understand the concern with Brexit.

However the email explaining this was sent at 2.45 pm on Friday afternoon 10.6.16 that the margin requirement will begin on the 12.6.16 which is a Sunday. So I ultimately have until 5.30 when businesses close to do something about this and I only got there email at 2.45pm. Keep in mind when I make my deposits its on Thursday's and it generally Dosent reach my go market account til Tuesday's. No way can I get the money to my account in time even with a visa transfer.
David Thomas,
Narrabeen, Australia,
Nov 24, 2015,

They are ok in the beginning, then they start doing fishy stuff, they freeze your platform and start making it difficult to get out of trades. Obviously this only happens after you start bagging pips, when you first start with them, all is good, then it goes sh!thouse, quick.

And to top it all off, they started asking me "Why do you want to make a withdrawal?" I told them it was none of their business and I started pissing in their pockets, and making up sh!t like "I am buying flowers" etc.

Don't do it, trust me.
  2 traders have found this review helpful
Melb, Australia,
Jul 24, 2015,

During NFP platforms mainly freeze after trying repeatedly have given up- do not bother to news trade you waste yr time and FPA FNG does not work. Some Curr.prs have huge spreads. Go Mart discontinue a Curr pr when it suits them no matter you have 2 long term trades on, you bear he brunt and with the CHF fiasco they ripped me off a lot of money You decide if you like this. Good Luck!

2012-04-09 Been with this broker for awhile and there is slippage but yesterday in a quiet morning trading period they charged 10p spread for an A/Y trade- shame on you Go Mart-

I like to add i did withdraw some funds from this broker a few months back and I had no problems - 2 and half stars
Jun 29, 2015,

reliable company. i had a small loss anyway than i ordered a withdraw the same day money was in my account. Unbeliavable. a little slippage. but fast withdrawal.
robert rawson,
newcastle, Australia,
Jun 23, 2015,

I can't believe some of the bad reviews I have seen about go markets.
I have been with them for about 5 years. With 2 problems I've had in MT4 platform, I rang them once, and they used software to remotely view my screen and fixed it. The other time using online chat at their website.
The spreads are low. You can get high leverage if you want.
The people don't have funny accents like most companies when you ring and get someone who speaks English as their 5th language.
I have used a lot of brokers, and go is by far the best. Some were dreadful, and clearly stop loss hunter, or gave requotes.
I don't trade the news, but if you do, beware whatever broker you use. During Non Farm Payroll, go markets spread only increased 2 pips.
, New Zealand,
Mar 25, 2015,

For the last two weeks i have been watching a three way hedge with a positive net swap. Last week i monitored the live and demo, saw they were the same, and took a position on the demo server for proof of concept.
Yesterday I took the position live.
Overnight the swaps were altered.
This morning I noticed this and immediately contacted the live support. After checking the trading desk, support told me that the swaps were wrong and had been fixed.
I then emailed the trading desk explaining that I now had three open positions that were made based on their incorrect data over a significant period and I expected my positions to be reversed.

23 minutes later the positions were reversed, at no cost to me.
, Colombia,
Mar 9, 2015,

Core Liquidity Markets Company is a company of "GO Markets Pty Ltd" Core Liquidity MANIPULATES PRICES and do claim they cancel the account....be careful
  1 trader has found this review helpful
Miao WANG,
BRISBANE, Australia,
Dec 6, 2014,

I have to let you guys know my bad experience about "GO Markets".

I am a customer of "GO Markets Pty Ltd." and I am using its platform to do the Forex trading and stock index CFD trading.

I have lots of existing CFD positions which is worth more than AU$10,000 and those existing positions should be kept rolling over and over based on the contract month by month until I close it. This rollover rules are based on the terms and conditions when I opened those positions.

However I got an email from "GO Markets Pty Ltd." on 18/Nov/2014. It was telling me my existing "positions will not be rolled over to the next contract month.", "Any positions that remain open
on client accounts will be closed on the last trading date and profits/losses crystallised" which is 17/Dec/2014. And my positions "will be switched to 'Close Only' on Monday, November 24, 2014.
This means that it will not be possible to open new positions in these symbols but instead only possible to close positions that are already open."

This big change from the broker side and in such a short notice would bring big loss (at least $10,000) to my portfolio. So I emailed them to ask them about it and they emailed me back to
suggest me to change my current positions into their another new finance product called CFD2 which is very different from my current CFD positions and would charge daily swap fees on my positions which would bring big uncertainty and possible losses to my portfolio.

In my opinion, broker has no right to change the customer's existing positions in any way against the original terms and conditions when those positions were opened, especially cancelling the rollover functions which is a basic function for CFD trading and close client's existing positions as broker's will and for broker's best interest.

Please look into this issue and help me stop "go markets" do that ASAP. At the same time, please be aware of what "Go Markets" is doing if you are an existing customer or planning to open an account with them.

Oct 26, 2014,

Stay away from them, especially during the news releases. They may open your order on a faked price and you may lose ALL YOUR deposit!!! I lose 800 pips, because they opened my order on the FAKED price.

They told me blah-blah-blah, our liquid provider confirmed the price, but i'm not an idiot! I have 3y+ experience in news trading, and always trade on 4-5 different brokers at the same time. So on the 4 brokers price was the ok and only in their system price was in 800 pips different! This broker is scam don't trust them your money, better to spent your money in Vegas!=))
Melbourne, Australia,
Dec 12, 2013,

I would not recommend them at all. They execute Stoploss on wrong prices. Like now. They say gold spot low was 2418.60 10.22/13.12.2013. The low in my other broker was 2424.85. If you stoploss would placed at 2420.-- you would executed at 2418 even the real price was never there. The news feed stoped working weeks ago. So, we would not recommend them at all.
Melbourne, Australia,
Nov 23, 2013,

I was accused of using a robot and I certainly wasn't. I had all my trades stacked to come into the market at different prices. All of my trades were placed into the market at the same time blowing up my account. Apparently the price ran through all my trades too quickly making it impossible to "honour" the trades at the prices I asked for. So then the trades were placed into the market at the next available price. They are nothing but scammers. My new broker is incredible, when the price runs through the trade or the price gaps the trade is still honoured. Stay well away from Go Markets, if they were on fire I would pour petrol on them.
Peter Henderson,
Queensland, Australia,
Nov 16, 2013,

I have been trading with Go Markets for a number of years with no reason for complaints. This year was a totally different matter...No connections, stop loss taken out when price was nowhere near, 8 minute delays from news feeds, and a whole pack of lies from support....Don't bother with this broker.
caleb manning,
Brisbane, Australia,
Oct 30, 2013,

Have been with Go market since 2009, with no problem until I started to use larger lot.

Problem 1, News GoMarkets will spike the spreads to more than 30 pips on all pairs, this will always hit your stop loss and take you out by will never hit your TP. Even when SL is 100 pips away and TP was only 10. It happened GPY/JPY and more than once. And is now happening more and more.

2) MT4 platform will always freeze during news events, and not for a few seconds but for a whole press conferences like ECB etc. Meaning that when they spike the spreads and hit your SL you will not be able to get back in on the trade because the platform has frozen !!!!!! This is because they do not put your order into the market, GoMarkes plays the odds and will be very nice to you as long as you don't win to often.
Like I said, I have been with GoMarkets for over 5 years and started with a mini account with a few hundred dollars, and never had a problem. Now that I trade 5 standard lots a few time a day things are staring to show.
Stay away from GoMarkets as if your money depended on it. unless you are always blowing accounts then GoMarkets will be more than happy to help.
You have been warned..
Sanjit Singh,
Toronto, , Canada,
Oct 3, 2013,

I had 2 Shortsell orders which did trigger but at a far lower price then the original order.

However, what is dodgy about this is that they were triggered when the market never reached those levels. The market did reach those levels but later on. In one case the market reached the level approx. 25 minutes later and in another case it reached the level approx. 5-min later.

The jury is still out as I wait for them to fix the issues. I will keep you posted.