GOMarkets.com Review

2.819 · 221 REVIEWS

Formerly GoMarkets.com.au

Updated: Aug 31, 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.

GOMarkets.com

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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2.819 · 221 REVIEWS
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Traders Reviews

EA Trader,
Macau, China,
Mar 22, 2013,
Guest

Frozen my account that I earned from them. BIG SCAM !!!
 
RK,
london, United Kingdom,
Mar 22, 2013,
Guest

Being a legit broker, with a good regulation standing, they have shut down my account, because of my success of trading during news and volatile times. Its quite unbelievable how a big broker could have such issues. Now my money is held at ransom, the same as being in a cypriot bank account.
Stay away from this broker at all costs.
 
LK,
Singapore, Singapore,
Mar 22, 2013,
Guest

My MT4 account fund was freezed by Go Markets yesterday, accusing me of illegal trades.
I have being using same EA trading on other broker with no complaint, but for Go Markets, once I made reasonable profit, my account was suspended and I was threatened to sign a document to declare all my trades will be voided, then my remaining fund can be returned back to me. That include trades happening months ago.
This is ridiculous. I need helps and advice from FPA.
Thnks
rgds
 
LCOK,
Melbourne, Australia,
Mar 22, 2013,
Guest

Have frozen my account for using an EA, even though their website clearly state that this is allowed (http://www.gomarketsaus.com/why-go-markets/key-advantages/why-use-go-markets/). Stay away from these guys!
 
oz trader,
victoria, Australia,
Mar 21, 2013,
Guest

After months of trading with gomarket they have emailed me informing me that i have used an EA and they have frozen my account not letting me whithdraw any funds i have asked for proof and have recived nothing they have stolen all my funds not even the trades there questioning but the entire account . STAY AWAY FROM GOMARKET THERE THIEVES
 
Wellington, New Zealand,
Mar 21, 2013,
Registered user

I have been with Go Markets for about 4 years. Had a problem early on where I was stop hunted for a 50 pip SL, but haven't had a further problem until today.

I got an email today from Go Markets Aus suspending trading in my account. They allege that my trading is "suspicious and in particular exploiting internet & connectivity delays in order to take advantage of arbitrage on the Trading Systems.". My account is now frozen for up to 90 days.

My account has been quite profitable of late & I have been trading news events which have yielded quite good profits & I feel that this is what has led to my suspension.

I would be interested to see if anyone else had had a similar experience with either Go or any other broker.

2011-11-20 1 Star Been with them 3 months. Very dissatisfied and will be closing account. Spread spikes are very large on certain days. Up to 70 pips and without a spread history indicator you will never know how you are losing so many trades. Happens in the blink of an eye and on a regular basis. Just checked a trade I have been running for a few days. Difference between sell price and current price is 70 pips. They are showing a deficit in price the equivalent of 105 pips. Could FPA please have a look at these people and give them a rark up. I wish the FPA could hire an honest brokerage firm using guidelines set by the FPA that we could use and know we have a chance to succeed without people thieving our money. I personally would be prepared to pay an reasonable annual fee for the FPA to organize this.
 
Bernard,
Jakarta, Indonesia,
Feb 11, 2013,
Guest

Update: 12 Feb 2013.

My mistake on my last post,
The EA on MT4 runs nicely and performing within considerable entry and exit price, compared with other brokers running same EA.

I'm still with GoMarkets,

2013-01-22 1Star I've been with GoMarkets for more than one year.
I use EA for trading. I always compare the performance of the EA in many other broker.
But today very surprise me.
While other broker ONLY got STOPLOSS for 08pip to 15pips,
my account in GoMarketsAus got 60pips. This is ridiculous.
Bye bye GoMarketsAus.

2010-02-11 No rating I'm Indonesian considering to open account to this broker.
But, WTF?
This is my first time rejection from a broker.

This was what they said:

Dear,
Unfortunately, due to Australian money laundering regulations and the risks involved, we are currently unable to accept applicants from Indonesia.

Thank you for considering us.

XXXXXX XXXXX
Administration Assistant

GOMarkets Pty Ltd
Level 16, 114 William Street
Melbourne
VIC 3000

+61 3 9670 3055
1800 88 55 71
 
PISSED OFF !,
, Canada,
Dec 7, 2012,
Guest

They never honor trailing stop losses ! My TP hit many times but they never credited my account ! DO NOT LET THEM STEAL YOUR MONEY ! F#@K*N SCAMMERS !!!
 
Paul Stee,
New Zealand, New Zealand,
Oct 29, 2012,
Guest

Go Markets are not as bad as some brokers. But does that mean they are ok? Not at they will target your stops more often than not. Order placement is very slow. large slippage.

Customer service arrogant while they rip you blind.

STAY WELL AWAY.
 
Mircea,
Sydney, Australia,
Oct 23, 2012,
Guest

I am using GOMarkets for 11 months. Never had really technical issues. I called once to ask about margin on my account and I consider that they were not helpful and kind of rude.
 
Terry,
, Australia,
Sep 27, 2012,
Guest

Bad spreads , very poor customer service , got un professional and rude people on the line.

Their Zero fee credit card deposit will end soon. So c***

Don't know how they got their ASIC license? I don't believe they are a STP , more like market maker and bucket shop
 
Jackson,
Melbourne, Australia,
Sep 13, 2012,
Guest

TOTAL AND ABSOLUTE BAD SERVICE from Go Markets -

People be warned to stay away from them

Their New FX COPY for MT 4 doesn't mirror trades properly with BIG SPREADS !!

Very Bad Spreads (getting worst) , some spikes there and there in XAU , AU and EU.............

Worst thing, they once increase the Roll-over rate of Gold from less than $1.50 per day to over $13 ....... without notification !!! Claiming that they have full rights to do so....................There fellow White Brother Label Vantage FX never did the same !!! Also Very Threatening and Ignorance over the phone.

Absolutely God Smack by theses Un-professional rip-offs , totally un-Australian. I prefer fellow Aussie - Axit trader, Pepperstone, IC markets..........and If I want some Bonus for Deposit, I will go to to Admiral Markets and FXTG over them ( Go Market and Vantage FX)

I will be Filing ASIC and Financial Ombudsman report in due time........ yeah Financial Ombudsman report gets them AUDITED BAD.........make sure these people stay in line with their ethics and integrity !!!

2010-08-10 Star Been with them for a while, and service is getting increasingly hopeless. I got sucked into them by focusing on their marketing and all the "good" customer service they can provide. But all that is not important - all that matters is the trading and the market and your broker fills/etc etc ...
Bottom line is, they have now started a new freezing technique - when price moves quickly a few pips from the current price (not news), they freeze your quotes for 3-5 seconds. Hence making it difficult for scalpers (or if you want to exit your position quickly). At news time it is even worse (but i dont trade then anyway). Due to this freezing of quotes, lot of their smaler time frame candles (esp. 1min/5min) have differnt highs and lows compared to the real market.
Even if you get over all that, the most irritating thing is that the fills are taking around over 4 seconds to get into the market. So not ethical. Customer service will only say that my ISP is messed up - which is not true, since i can download files and stream files over the internet extremely fast. My advice is to stay away from their marketing gimmicks - ITS ALL JUST BAIT TO GET YOU SUCKED IN.
 
FXShark,
, Hungary,
Sep 7, 2012,
Guest

Clear SCAM from Go Markets. They sent an email early this week that they will close ALL EURCHF longs by next Mon.

And what happened? The market just started to rally shortly after.

I was sitting in a long position with loss and didn't want to wait for Mon, so move my T/P to breakeven.

And here comes the pure scamming!

My position was closed 20 pips early, although at the price I asked for, but why this never happens on other pairs that they close is well before your target, but give you the price you asked for?
 
Rob Falconer,
Shellharbour, Australia,
Jul 20, 2012,
Guest

Bad service - i got ripped off $800 through banking error they got the money - i rang 10 + times & got same excuse, Lots of slippage.
So i've never got my money back - i will never deal with them again.
 
SamsySamsy ,
Melbourne , Australia,
Jul 4, 2012,
Guest

The best FX broker I have dealt with in last 15 years. They are honest. They accept faults and refund, if there is slippage. No excuses for not processing withdrawal. Timely withdrawal and processing deposits.
 
Trent-P,
Sydney, Australia,
Jun 6, 2012,
Guest

Great to see GO Markets back on top again like they used to be. I was always hoping they fixed their issues and came back even stronger. Love the free autochartist which provides some great signals and happy I can now trade crude oil with a regulated broker. I trade with a couple brokers and GO Markets is by far the best.
 
Pipslut,
Goldcoast, Australia,
Apr 26, 2012,
Guest

GO at it again, just had 25 pip spike on the audusd pair on 5min candle, 4/26, 10:45... My two other brokers did not spike. GO was once a great broker, just a scam and trade against you now,AVOID....

2011-11-09 2Star I was a big fan of gomarkets been using them for 2 years, however the last couple of days they have been blowing out the spreads 20-25 pips during news release. Sucks if you a news trader or scalper.. Time to move my money elsewhere... Just wanted to give scalpers the heads up.... AVOID....
 
nicolas,
france, France,
Apr 1, 2012,
Guest

Really good broker ! really serious, and professionnel !

The only broker that provide nanot lot and that is regulated.

I really appreciate goMarkets, it is the only broker that i'v seen who could execute a stop loss or a take profit in a gap on an overweek position.

It's really nice for the customer.

Excellent :)
 
indotrader,
jkt, Indonesia,
Mar 30, 2012,
Guest

their spreads are joke! 3.5 for EUR/JPY at daily normal liquidity is a joke. GBP/USD for 2.4 spreads, geez and they claim they are pure STP broker? I don't know what's wrong with this broker, they seem to be great before 2012 especially their spreads, but now they are really suck. I want to run away with my money as soon as possible..
 
Fran,
Barcelona, Spain,
Mar 17, 2012,
Guest

Take care with this broker. Really, they are practicing very, very often the huntpips. I've wait 20 times untill I've decided to express my discontent with them. The last misdeed was yesterday, trading EurNzd with my stoplos beyond 10 pips -when they recognize that they're aoffering 8 pips- stopped out my trade. This actuation has happened between 20 and 30 times the last 5 month. So, be aware with this broker.
 
Mike,
OZ, Australia,
Mar 15, 2012,
Guest

This company is a joke. Execution time is Fcking shite. I tried entering in on certain occasions and it did not fill at all and price went complete away. Their spreads are horrible as well - used to be good, what's the deal with these thieves?
 
Jo,
, Australia,
Mar 1, 2012,
Guest

This's the news for anyone who's new in forex or unaware with what may happen with your trade with your broker.

Today I decided to thoroughly check last night and Feb trades on my platform after I read many comments about the trade that's closed beyond stop-lost you or your robot put in. It was surprissed me to find out that many of them were closed beyond set stop-lost. Some of them 3.2 pips beyond set stop-close.

I contacted GoMarkets and I was very disppointed to learn that no guarantee the trade will close at set stop-lose. Some robot, i.e MDP, took big lot in one trade. Just imagine if your robot take 5.1 lots, which happened in my case, we will lose an extra $163 in one trade. From my experiences in a day robot (MDP) can take up to 20 trades. Just imagine how much extra loses we need to pay.

Please be aware !!!!
 
Trinh Hoang Tuan,
Viet Nam, Viet Nam,
Jan 25, 2012,
Guest

One of best broker so far :)
I have traded at FXCM , FXopen , Fxcast , Masterforex , Alpari , LiteForex ....but now I'm trading only with Gomarkets , they're more than just a broker lol . They give me fastest support , withdraw and deposit as always .
Deposit through credit card : I got my funds within 30 minutes ( office time )
Withdraw to bank : it take me only 12-24 hours to see my funds in bank , I HAVEN"T SEEN ANY BROKER DID THAT :)
Support : THEIR Live chat always there , help me to change leverage , deposit , withdraw ...vv.v , THEY HELP IN REAL TIME , NOT STUPID supporter who tell me to wait for emails or something like that ....these supporter are persons in office and they can help you truly .
Email support : most of time within 2-4 hours :) not 24-48 hours.
Trading Platform is simply the best also :) , best spreads ever , fast executions
 
Rich,
Sydney, Australia,
Jan 25, 2012,
Guest

Was looking to sign up with them, however, their customer service seems to be slow and unimpressive at best. From talking to the customer service, I almost felt he was going to hang up on me any minute.
 
FXwizard,
id, Indonesia,
Jan 17, 2012,
Guest

I have Go Markets live account, six months ago their spreads, especially Major like EUR-USD and GBP-USD are one of the lowest and best spreads that you can have and that was the reason why I registered with them. Today, they changed their policy, canceled all rebate accounts and increased their spreads. I wondering, is this the same broker that I registered few months ago ? and they are not STP, you can see their spreads are controlled and glued like it had been fixed. Don't telling us another lie, just compare their MT4 spreads with another honest STP broker, then you will trust this review. I compared their spreads in both live accounts and good liquidity market hours. Oh and if you plan to trade robot with them, better find another broker. Your robot won't work with them. Sorry GoMarkets, you've just lost another client