GOMarkets.com Review Visit site

Updated: Feb 24, 2020
Formerly GoMarkets.com.au
2.815 · 221 REVIEWS
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Other websites of this company include GoMarkets.com.au, GoMarketsAus.com

About GOMarkets.com

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

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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2.815 · 221 REVIEWS
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Consumer Reviews

chris,
sydney,
Jul 29, 2009,
Guest

i had an account with gomarkets and recieved this phone call from this twat from the company called Paul. He was very rude and aggrresive and he told me that he wont be allowing me to trade with gomarkets as they were having problems with their liquidity providers to hedge against my postions. I have been banned trading with gomarkets for this reason because i was making money overall and have proof of that too.
Overall my experience was gomarkets was a constant array of requotes and invalid prices. They have had several problems with their servers and no one to take your calls at night when u call their number. Another addition to a typical bucket shop. BE WARNED: if you make money with this broker they will manipulate the prices and eventually BAN your trading account.
I did hope to have a decent Australian based broker but unfortunately another scam in progress.
 
vitesh,
Australia,
Aug 3, 2009,
Guest

been using go for forex and indices, forex service is excellant , i havent had a problem with requotes. MT4 works well but a shame they have stopped using the saxo platform for cfds, hopefully they will put cfds on the mt4 as well.
 
Steph,
Collingwood,
Aug 16, 2009,
Guest

I gave 4 out of 5 stars. Pretty good broker and seem honest unlike some others out there!!

Only been with them for about 3 months and made a bit of money using EAs and a bit of manual scalping (so can't complain too much). Got an email from them on Friday saying they are adding liquidity which is noice as i did think some spreads were a bit wide recently. NIce that they are an Aussie broker as well so I dont have to send the money outside the country.
 
sam,
australia,
Aug 16, 2009,
Guest

i was getting requotes in more then 75% of my trades. I have read in other forums that they change spreads on your platform if you are making $. Customer service is not good at all after you fund your account. Withdrawals are fast, so thats a good point but i would never trust this broker on their unfair tactics. Beware and stay away.
 
Daniel,
Sydney,
Aug 16, 2009,
Guest

ULTIMATE REVIEW (35 TRADES TOTAL)

CHEAP But you end up paying MORE!!!!! because of slippage and other factors?

Unstable, unethical behavior suspected, I got slippage of $300 on a $750 close (Explain why I ended up with $450?)

Anyways, after testing customer service (The guy had difficulty explaining to me the difference between bid/ask) he mixed them around and had primary knowledge of markets that I had about 10 years ago. He also tried to explain why the price of the CFD was no were near the equity price using any excuse of little relevance to explain himself.

Anyway, platform has many features which is Excellent, but again unstable(Crashed several times, once while I was attempting to close a position).

News feed stopped working permanently, the broker said it was under repair? ?(sure thing, it never came back, I'm guessing the broker had to pay from provider so they quit it for traders)

Prices are live, but not live? he mislead me at first into thinking it was live until I had to upgrade.

Price of graphs is "DUMMY DATA" (DIRECT Quote from the broker) He mentioned not to rely on graph and couldn't explain why it had no relation to stock price whatsoever. He recommended unless I pay for advanced user graphs, then these are inaccurate.


Trading experience 2/10.
I am not exaggerating or faking any of the above points. I do really believe unethical and inconsiderate behavior be dealt with and conclude an unfair and unreliable service.

I had a companion trading with Go Markets as well, he is training to become a certified financial analyst and says hes experience was "unbelievably disappointing".

Feel free to try yourself ... Regards, Daniel

 
Chris ,
Go Markets,
Aug 18, 2009,
Guest

I represent GO markets ands would like to comment on a couple of points listed below.
Obviously we welcome feedback but I would like to clarify a couple of points when we believe them to be unfairly portrayed.

Firstly we dont have slippage on entering and exiting a trade on the MT4 platform, we have instant execution, if the price has moved considerably from the time you click and the time the system receives the click then an order may be refused but we do not slip and refusal of any trades is automated and extremely rare.

Secondly our MT4 platform does have a live news feed streaming through.

Thirdly we are a non dealing desk provider so all of our staff are not dealers for the company but must have a decent product knowledge, if you feel that a member of staff has a lack of knowledge then feel free to let us know as we have high standards and must satisfy our regulators.

Lastly I would like to point out that we do not change spreads for different clients , we run a feed that comes from a list of banks and institutions through Currenex and spreads can and do vary throughout the day as they do for most providers.

I'm not blinkered and I realise that you will find some clients have negative experiences with all providers and also some posts may be from competitors but we do seriously strive to be an honest Forex provider with complete STP of all trades, we also welcome feedback to us directly as we know that there are always things to improve on.

Review Moderation Team Note: We aren't blinkered either and go to great efforts to prevent fake reviews. In this case, we are more concerned that Chris seems to have left 4 and 5 star reviews for GoMarketsAus as...

James, Syndey
pipprofit, Australia
James, Melbourne,Vic,Aus
jake, Canada

Our screening for fake reviews caught these pretty quickly, so they were deleted.

 
steve johns,
maidenhead uk,
Aug 18, 2009,
Guest

Go have been my preffered foex broker for about a year , i used them when they still had the Saxo platform, MT4 is a vast improvement and the spreads are now very good. My only concern is that they have no GBP bank accounts and would like them to have a local office if possible. I would rate them 4 stars but i will give them 3 for being cheeky about posting possitive reviews on themselves even though im sure every broker here has done that.
 
Pauline,
Australia,
Aug 18, 2009,
Guest

Horrible broker! Most of the negative comments i've read below are exactly what they say they do .. I made a couple of hundred dollars in the first week, and from then on my spreads were widened. I have a trading partner and her spreads were untouched. This proves that they are dodgy. Not only were my spreads widened, but thereafter i was unable to trade due to the amount of requote (even when prices were stagnant). Now finally they have closed my account stating that they cannot provide any brokerage services to me (what does that even mean?). That said, my trading partner can still trade in her account.

I would advise anyone serious about trading to stay away from this broker - they have a different agenda - having profitable clients is not one of them!
 
john,
Australia,
Aug 19, 2009,
Guest

Ok thanx mod for informing us of those fake review posts excellent job as usual .. but will go on to say that this isn't really a major concern to me as a an account holder at gomarkets.

What is a concern is the various issues I had in my previous post.I have given my review on this company before and will try to keep people posted with any improvements to the platform since my last post.

Since my last review in the past week, i will be honest and say fills are a bit better now. The spreads haven't got out of hand lately but still needs work (as i compare to well respected forex companies with good ratings that i have had experience with current and past) and slippage and rare occasion price freezing needs some attention.

If chris and crew at gomarkets can continue to improve the system and by this i mean back up server,requotes,invalid prices and better fills during all market hours and no silly spreads then i will slowly upgrade my rating for them.by all means this is not a "Green Light" yet for people to fork out thousands and thousands of dollars but based on the above i think there has been a little improvement which is good enough for me to mark up to a 3star.

Keep in mind i'm a professional trader and i have used a hell of alot of brokers and i know the common problems with mt4 platforms and associated dirty broker tricks.

Chris and crew have made some attempt but will monitor over a longer period of time if the issues are resolved and whether the platform is consistent over longer periods of time to the above issues.This review will be over months and my rating will only be upgraded over longer intervals possibly 6 months to 2years to get a 5star rating but keep in mind if there's any more nonsense then i will downgrade where i see fit.

The positives for gomarkets is
1.asic regulated
2.quick withdrawls within 24-36 hours
3. Money safe in Aussie banks
4. Potential to be a well respected broker

The negatives i have discussed.

2009-08-08 2 stars I agree with chris from sydeny on this one "gomarkets was a constant array of requotes and invalid prices" and definately a bucket shop case..I have an account with them but would think twice in putting big money into this one.I do get fills sometimes but when u try to buy bigger lot sizes the above mentioned is the case.The problem is gomarketsaus have requoted me to much during critcal market movement times..Ive seen silly spreads in the past and dont really recommend them to anyone until they can constantly allow execution of trades to profitable traders otherwise their costing me money each time i dont get in during an important trade when i need to ...As mentioned b4 requotes and invalid prices have really stopped me furthur from earning more profits...As far as im concerned they are not really honest in their operations..Since they are located in Australia and regulated by asic i will give them another few weeks and then start to shop for more honest brokers who are more than willing to help their customers make money.Since i know how to make decent money in forex and know the dirty broker tricks my rating for them is a 2star...1 = withdrawl processed 2=asic regulated

Other than that this is not a broker to consider if you have serious money to invest..
 
Solomon King,
Melbourne,
Aug 22, 2009,
Guest

I HAD GONE TO THEIR OFFICE AND OPENED AN ACCOUNT. Met with their consultant and was assurred of very good spreads. I decided to demo trade their platform to see how they are operating plus to improve my skills, brfore I put any money into the account. Unfortunatrly the spreads expanded dramatically in some instance up to 15 even 20 pips.

When I CALLED NEXT DAY, all I got was an excuses. Luckily I GOT SNAPSHOTS OF SOME OF THEIR TRADES.

If I was trading live I WOULD HAVE BEEN REALLY IN GREAT TROUBLE.

I hAVE BEEN PROMUSED SIGNIFICANT changes. I will believe it when I SEE IT..

I am extremely disapoointed from what I have seen.Performance is significantly below expectations.

Will give it 2 stars only because it is regulated and appears
to be willing to improve at least in words, maybe it will be a reality, soon.