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GOMarkets.com.au (Was GOMarketsAus.com) Review Visit site

Updated: Jun 19, 2019
2.801 · 220 REVIEWS
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2.801 · 220 REVIEWS
Forex Peace Army
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Consumer Reviews

Brian,
NSW, Australia,
Apr 16, 2013,
Guest

I have made and withdrawn over $50k of profit with GO Markets. They do allow you to trade and make money, just not try and beat the system. The BTN users are similar to card counters at a casino and its not legitimate trading.

I have only given 1 star as the last few days their server is offline for at least an hour last night and so far 2 hours tonight.

I am moving to another broker as these guys have significant server issues.

Stay away !!!
Oscar,
Argentina, Argentina,
Apr 15, 2013,
Guest

This broker is stealing me!, After months of trading they erased all my profits from NOV/2012 to date, and they say i was trading with some EA named BTN LIGHTNING, I traded since many years ago and always me and only me I have been trading with them since 2011. When i asked them for proof that i was doing something illegal they only avoid to give me a real answer. Here you can read what i wrote and what they answer.

I WROTE:
Dear GoMarkets support I am now in contact with FOS, I requiere you to give me proof of what you are saying. Give me the proof of what you are accusing me of doing not a two lines email or a templete, i ask you to provide me of each trade why it's invalid and why the trades before those are valid.

You erroneously accusing me of

1) "using an automated trading robot which had the below characteristics"

Causing systematic manipulation or abuse of markets
Interfering with the markets efficiency and integrity
Exploiting mispricing
Operating in Breach of our Terms & Conditions

Me: I do not use any illegal robot like they says, I always program my own EAs *robots to trade the market, i have been doing this for over many years in many brokers and this is the first time someone don't want to pay my profits. My robot trade news releases, previously get with Bloomberg software, i can provide you the bill. and make the decision in which direction to trade BUY or SELL and you accepted the trades. Also you canceled my trades from NOV/2012 to date and i have been trading with you since OCT/2011 exactly the same, how is possible for you to find only the last period trades illegal, i suppose you are not investigating my account only saying things to not pay my profits as you never gave me any proof of what you say only accuse me of doing something but with any proof.

2) also of "It is our understanding that many clients have downloaded an EA /Trading System (BTN Lightning) or given their Login and Password to a third party"

Me: I told you many times i don't use any EA/ROBOT from someone else or gave me login details to anybody but you keep saying i did, also you phoned call me very rude and accuse my by phone of that, i program my own EAs in MQL language, I know how to do it since many years ago, i learned in 2007. I am not a beginner i trade since 2005 an the forex market and i am a very experience trader so in my opinion you are not willing to pay because you are running a market maker broker and not going to buy or sell real currency only playing a game, after i submitted a withdrawal form you sent me an email saying this accusations. I can provide you with any proof you need.

I am fw all the emails you wrote me and i sent you to FOS and i commit myself to submit your aswer when i have it.

Best regards,

Oscar.

THEY ANSWERED:
Dear Oscar,

Your trades have been derived from the BTN trading system. I will however ask a member of our risk team to look over your account once again to ensure it has not been flagged in error.

Regards

GO Markets Trade Support

They are avoiding me and running away with my money! please help!

2013-04-05 1Star I've submitted a review before, this is to notify you that GoMarkets is still trying to run again with 65000 USD, I will also submit a 1 star review so other customers can be aware.
I just sent a formal complain with the regulation agency ASIC i will keep you updated about this matter, they accuse me of having a EA that take advantage of something illegal and I have every proof that I am a forex trader since many years ago, I never had any problem with any forex broker, I will provide ASIC and you if you need that information of everything you need to let you certify that this company is an scam.

2013-03-26 1Star Dear Forex Peace Army, this broker Go Markets it's stealing my funds they are saying i traded my account with an EA named BTN Lightning and because of that they are reversing my profits made since months ago, i can prove i always traded by myself with homemade EA programed by myself in MQL4, i am desperated they are stealing me and i don't know how to protect myself after i sent my withdrawal request the send me an email saying that i have all the emails recorded, statement, please let me know how to go further with this, thank you in advance, Oscar.
Adam,
, Canada,
Apr 10, 2013,
Guest

I'm also a victim of GoMarkets, with months of profitable trades (tens of thousands of dollars) being cancelled. The reasons put forth by Go being completely unfounded and ridiculous. They have been extremely poor in their communications. A shame after things started out so well, then went downhill fast once I was profitable.
Spencer,
Adelaide, Australia,
Apr 10, 2013,
Guest

Just spent ages writing a review only for it to not submit so if this comes through twice then I apologise

I have used BTN briefly and then moved to another EA. I have no issues receiving profits and withdrawing cash which leads me to believe this is an islolated incident.

BTN have gone underground and stoking up the users to take action but they know that this trading is suspect and they know that it only works with brokers who are dumb enough to have slightly off prices.

Wouldnt suprise me iof GO and the others are actually speaking to their lawyers to take further action against BTN and the users as if it genuinley slows down the server to take trades then thats really suspect.

I will be interested to see how this pans out but in the meantime I will give go 3 stars due to regulation, speed of funds transfers and helpful staff but no higher as this could have been handled better and privately
norseman,
, Australia,
Apr 9, 2013,
Guest

This Broker along with sister company Vantage FX have frozen my accounts and deducted profitable trades claiming that there was illegal trading activity on the accounts.
DO NOT USE THIS BROKER! You have been warned.
Get your money out while you can if you have an account.
JT,
London, United Kingdom,
Apr 8, 2013,
Guest

Please DO NOT open an account with GO. My profits were deleted after 4 months of uncontested confirmations stating that their liquidity providers reversed my trades. I do not know how that is even possible, if anyone knows please shed some light on this. Once they completed the investigation, they said that I would be able to withdraw my deposit, but now they have back tracked and said I would not be able to. I am stuck in limbo at the moment as it seems that I have lost all my funds. Having read more about past dealings with GO(I only wished I read this before opening an account with them), it became apparent to me that they were betting against their clients. So this goes against the fact that they claim that they are a STP broker. Please avoid GO at all costs.
Dave,
Albury, Australia,
Apr 5, 2013,
Guest

I've been Forex trading for 4 years now have had a number of accounts with GoMarkets. I don't know what all the fuss is about I haven't really had any issues, but in saying that haven't had much success so making too much profit isn't going to worry them.
I have never had a problem withdrawing except if you top up the account with a credit card you can't withdraw to a bank account for 3 months which can be annoying.
I have lost money on two ocasions when I was getting a error or no connection and they refunded me the money.
I'm not sure if they are a scam or not I haven't had a lot of issues, if they are I'll have to find someone else.
I have had strange things occur when using EAs or getting requotes for no reason I couldn't close a trade in profit but when it goes backwards it would allow it to be closed.
Overall I'd say it's been pretty good, with low spreads and good customer service. I've never had a problem doing withdrawals. And that's the honest truth.

2008-12-15 5Star I have used a number of providers and have found this Company to be very honest and upfront.

When I queried a withdrawal which was not processed overnight they responded by a direct realtime deposit into my account at their own cost which was unexpected and not requested.

I have had a number of queries and asked some searching questions to which I have always received a prompt, polite and satisfactory reply. Their spreads are reasonable and they don't make it difficult to trade profitably.
Al,
Toronto, Canada,
Apr 1, 2013,
Guest

GoMarkets along with VantageFX(who seems to be a white label of GO), have cancelled over $2000 of profits that I've made on 3 trading accounts. A total of 3 accounts, 1 with GO and 2 Vanatage have had all profits reversed.

The profits were made over a 6 month period, from October 2012 - March 2013.

Cancelling profits older than a few days is what I would consider a SCAM.

In forex if we don't know that the profits we made are safe at least after a reasonable amount of time, then what is the point of trading, when the broker can just decide to cancel all your profits.

The broker will not respond when I asked them to reverse all trade cancellations.

I am honestly surprised this broker is getting anything over a SCAM rating, it looks like there are many more like me who got their profits canceled.
Robert,
North Sea, Germany,
Mar 30, 2013,
Guest

Start up guys, it is a WAR now! Stand up and fight against these SCAMMERS in all possible ways! Do not let them to have an Exit, no matter where in this World! We have nothing (more) to lose!

2013-03-281Star Here the same! They have stolen me several thousand of EURO!

We will fight them, beat them, do not let them escape!
Samo,
Costabona, Slovenia,
Mar 29, 2013,
Guest

Very interesting!

http://beathespread.com/groups/profile/2024/secret-history-of-gomarkets-go-doesnt-want-you-to-find-out

2013-03-281Star When requesting a withdrawal, I recieved an accusatory e-mail from Go Markets, saying my trading was illegal? Well, I tell you, it is not illegal, I was just making profit. They freeze my account, and soon took all my profits I made. They took the profits I made months ago! Now my balance is showing less that I deposited. I am already in contact with my lawyer, and ASIC. My opinion: Go Markets is making money taking positions against their customers, so when there is a client making profit, they lose - this is a very known scam practice of market makers. When you will deposit some money to Go Markets, just know that they look at those funds as already their money. There will be no peace in my heart untill this company is shot down, and I will make all in my power to legally finished them.