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

Live discussion

Join live discussion of GOMarkets.com on our forum

Go to forums

Video

Your company video here? Contact ad sales

2.819 · 221 REVIEWS
Forex Peace Army
DO YOU RECOMMEND THIS COMPANY?

Let other traders know if this service is worth checking or should be avoided.

Your feedback matters!

Traders Reviews

josef,
singapore,
May 7, 2011,
Guest

Go are in my opinion a trustworthy broker, they try to make spreads better , being STP is good for my trading and gives me an advantage for my automatic trading
Go markets should open an office in Singapore as lots of clients would like to deal with a local branch and not just Australia
4 stars not 5
 
Beta,
ID,
Mar 25, 2011,
Guest

One of good broker out there, some good and bad with this broker. I will try to give a honest review for this broker as I've been experiencing so far

Good:
-low spread without commisions, great for scalper and day trader

-regulated by ASIC and segregated fund

-Pretty good customer support, especially the live chat. Just make sure that you already read their FAQ before you ask some regular question

-quite good server, but not the execution speed

-plenty choices for deposit & withdraw method

-took more efforts as they require notarized/certified copied documents for registration, IMO that's a sign for good administration and anti Money Laundering policy

-they have their real office at Melbourne, so GoMarkets address is legit, you can visit them at their office

-high leverage up to 500:1 as your request, pretty fast withdrawal process

Bad:
-You won't see spreads start from 0.5 pips as their gimmick marketing, the regular spread for EUR/USD is between 1 pips - 1.7 pips and could be widen depend on the market situation (100 pips is possible lol

-Wide spreads especially at news or volatile condition. If you're a news trader and looking for lowest spread, stay away from GoMarkets since you will find wide spreads, from normal spreads and amazingly wide spreads. I've seen more than 100pips spreads when Japan's Tsunami & earthquake happened. Absolutely not good at all, I hope they will be able to repair their price feed system so this won't happen again.

-Some spike down/up could happened in your chart, but they will correct your positions if it is because of their price feeds error. But no return because of the wide spreads

- Be careful if you want to trade EA/robot with them, many people said that their EA won't work great with GoMarkets servers, always setup your EA money/risk management otherwise you will see Margin call right in front of your eyes

- They delay the execution speed from 3-5 seconds to fill order. I don't know why the did this since I've never experienced with other big brokers as I have a pretty fast ISP with low latency.

- They don't accept US Clients because of CFTC, too bad for US citizen lol

I will rate full stars if only they able to repair their price feed. 100 pips spread is not good for trader and also for your business.

Please do not give us some excuse and excuse if this happen again, we're really sick about that. Just say that you're sorry and you will repair the price feed providers and you will guarantee that this won't happen again. That attitude will be the best service for your customer.
 
Trader1973,
Canada,
Mar 24, 2011,
Guest

Having a great experience with this broker.
Most of the time ultra tight spreads but must agree that during the earthquake it got a bit hairy.
I scalp with no problems but avoid news trading as ECNs tend to widen spreads around news.
My main positive is the way payments are handled.

 
kwchau,
Hong Kong,
Mar 23, 2011,
Guest

GoMarkets is my worst brokers among all other brokers I am using: FXCM, FinFx, Alpari UK and Gallant. I run several EAs' on all brokers. GoMarkets consistently produced the worst performance.
During the Japanese crisis when the JPY go wild, GoMarkets gave me a huge loss on one trade, it basically opened and closed the trade at the same second. In other words, their spread was bigger than my stop loss and it is a stop loss over 50 pips. For the same trade, my other brokers did not has this problem, they either closed at a much smaller loss or breakeven. No one else's spread was bigger than my stop loss.
When I enquired with GoMarkets, they knew and blamed on the market. The key point is that I did not have the same problem with the other four brokers.
So do compare brokers. If you are successful with GoMarkets, you may perform even better with other brokers.
Keep your mind open!
 
Bobby,
Melbourne,
Mar 23, 2011,
Guest

They call themselves "Straight Through Processing" broker - what a bunch of lies! I have over $800,000 invested in big brokers around the world. I thought i'd give my local broker a try after reading alot of reviews. Due to my high volume trading, i made a lot of $ with them over a short period of time. As of last week, i have been now placed on manual execution (for all the newbies here, this means, when you buy/sell, the order goes to them and they dont fill it for around 6-8 seconds - that way you cant scalp or get the entry you wanted, even in slow markets). In short, you want to make money? When you eventually get there, you will realise all these funny tactics used by GoMarkets. I'm sure there are many naive people reading this and thinking "whatever" .... beleive what you want, i couldnt care less (just thought this review would help those serious traders) :) ..... Oh and i was lucky to compare their spreads during the Japan earthquake - all 5 of my other brokers has between 20-50 pip spreads, and this so called "STP with direct liquidity" broker (GoMarkets) had a 200-300 pip spread ... over a 100 pip spread on EU .... enough said?
 
davinia,
australia,
Mar 16, 2011,
Guest

some pros an some cons of go markets i have noted in my first 3 months of using them. do your own reseach but these are my findings

pros

they are regulated
money is held in australian banks
fast service
reliabe platform
good spreads
friendly staff
fast deposits and withdrawals

cons

need cfds aswell
silver spread could be narrower
at news time some spreads can slightly widen
live chat facility very hit or miss on whether you get someone who can properly help or not
fee for credit card transfers
 
Stan ,
London,
Mar 6, 2011,
Guest

Brilliant broker, have traded for 5 years and never had a broker correct a spike but GO removed a price feed error last week on EUR/JPY and put me back in the trade without any argument. Top quality work and very uncommon , serious thumbs up but in future try not to have the spikes in the first place.
 
garth,
surfers paradise australia,
Feb 21, 2011,
Guest

im on a wireless broadband modem, thats 80 - 150 ms ping.
looking at the journal, ea has its trades executed usually same second. ive watched and traded with this platform manual sometimes during major and minor news for over a month now, only slight spread widening, never drops out. average 1pip on london/ny on eur. asian never more than round 2.
EA seems to perform same on live as demo.
and you can hedge.
ill post again in a few months to confirm is still all good.

 
Joe,
Brisbane, Queensland,
Feb 13, 2011,
Guest

My experiences with GO Markets have mainly been pros than cons.
I have used GO markets since they were a SaxoBank partner. The platform then was unresponsive and slow. I know this isnt a Go Markets problem but it was Go that chose that platform so they must take some responsibility.
GO markets to my delight launched Mt4 , it started off with a fixed spread MM system but soon changed to an STP/ECN method of operation. Since they changed the style of order placement the system has improved leaps and bounds, from a sluggish start to excellant and responsive trading. I have tried a few other brokers , GOs order placement and fills are by far the best I have encountered.
GO Markets do have a couple of other downsides , its difficult to find what you are looking for on the website and sometimes during news announcements the spreads can widen but apart from that I'm satisfied that they are an ethical broker (if there is such a thing)

 
Steph,
sydney,
Feb 12, 2011,
Guest

My orders , market and limit, are taking 6 seconds to fill. I called gomarkets and then said they would look into it. Few days have passed and they still havent fixed the porblem. Is being proftable the reason, i wonder. So frustrated that an australian broker has started to manipulate traders accounts as they see fit. I will be making a complaint to ASIC. Good thing is i have recorded videos of how they have manipulated my execution by comparing it with my friends live account. Stay away from this broker.
 
scalper,
sydney,
Feb 3, 2011,
Guest

DONT trade with this broker. I have been very profitable with this broker till a point where they banned my execution speed. They told me initially that scalping was fine and that is my trading method. I took my account size of 15k to 95K within 3 months. I did that by increasing my lot sizes to almost the maximum they allow ( which is 20 lots). Bottom line is, when you start making some godd money, they will play many games woth your account and give you all sorts of excuses. Chris is a champion in that.
Stay away and only join if your trading is bad--as they are looking for losers, no doubt. Good thing is withdrawals are fast. But so is with many brokers. They will be reported.
 
Rooi Colchester,
UK,
Jan 28, 2011,
Guest

I have been trading with them live for 2 months now. I am very pleased with their service and plan on staying with them. Spreads are very good, eurusd average spread for London session is ~ 1.3 pips. slippage is non existent and likewise re-quotes. I have found customer service to be good, although not the best. They have an active thread on ForexFactory which is good for discussions. They have made some improvements to their services in the time i have been with them, new data centre, new offices in the Netherlands, and lower spreads, and have more improvements in the pip line. I would definitely recommend them
 
James Martin,
Australia,
Jan 21, 2011,
Guest

Good experience with GoMarkets. Fast withdrawal, Fast execution impressed me.
 
Parminder,
Blackburn,VIC, Aus,
Jan 11, 2011,
Guest

Never had a requote, or slippage to complain about. Spreads are among the best, but execution is more important and that is great. Customer service is good and friendly and Nadia is very helpful. No complaints, but with a few add-ons like cfds they could be perfect.
 
Suramethar,
Bangkok,
Jan 6, 2011,
Guest

i want to give five star, i have to reduce it to four star, because about customer service is poor, do thing very slow. if compare to IBFX.

"You are now free to fund with this card whenever you wish"
whenever you wish !!
and many more .....

can't they just talk in formal manner?

but i have to be except that because their execution is very fast most of the time, quot off sometime. not hold my loss when i want to close it. better than IBFX in my view.

 
nabeel,
australia,
Dec 23, 2010,
Guest

HI
L AM CLINET WITH GOMARKET sice more than one and half year they are best broker ever l deal with
l tried many forex companies in usa but l say with conviedence that gomarket is the best and l am happy to trade with them
 
Frank,
Abu Dhabi,
Dec 19, 2010,
Guest

Very nice upgrades to service, GO Markets are a very relaible trading partner for me.
Spreads are very tight, trading is very fast.
Funding is quick with my credit card.
 
Chris,
UK,
Dec 7, 2010,
Guest

Overall experience is good, fast deposit. Their nano accounts are good for newbies like me.

However, one thing is that the spreads get ridiculously huge outside of the UK and US sessions. averaging maybe 10 pips and reaching highs of around 30 - 50 pips almost every day for a brief amount of time. Not very useful for trading when your a full time student and the only time you can trade the spread is huge. It really puts you at a huge disadvantage.

This broker is good if your looking for a cheap broker that will act as a compromise. What I mean by that, I only considered this broker because my initial deposit is <$500, i.e. not high enough to access other brokers.

As soon as I get better and get confident enough to deposit say £1000 or more then I'm up scaling to a better broker.
 
Julian ,
Australia,
Oct 22, 2010,
Guest

Go Go Aussie broker, great service Go Markets and stoked that an Aussie broker can be one of the best around, Now please help me make some money so I can retire early.
 
Richard,
Houston, Texas, U.S.A.,
Oct 16, 2010,
Guest

I've been searching left & right for the best broker and I've finally found GO Markets. Been with them for 6 months and very happy with their service and fast execution. All that happiness was taking away by those CFTC idiots. Now I have to start all over again to found that best broker. Wish me luck guys.
 
Tommy,
Miami,
Oct 11, 2010,
Guest

NO MORE US CLIENTS :(

I am only writing this review because unfortunately now I have to look for another broker. due to CFTC having an agreement with the authoritative body in Australian they no longer allow US clients with assets <10million
I researched brokers for 2 months before finally choosing GoMarkets. I signed up through a cashback IB to get a little % back. i think 0.35 pips on each trade. Funding and account verification took 1 day. they allow hedging, EAs, metatrader4, and leverage up to 500:1 In the 3 months of trading with them I was never unfairly stopped out, and 1 time my equity went negative for about 5 mins and no positions were subsequently closed. Like ALL brokers their spreads are higher then stated on their website, but still very low. they state EUR/USD is from 0.5 which since im realistic, I didn't expect. I found their average spread on it was 1.2-1.5 which I'll take News times this does increase though, but still much lower then most brokers. I never had any dealing desk dirty tricks, so maybe they really dont have one. All my trades were confirmed within 1-4 seconds. I saw a lot of mixed reviews about them from a year or more ago. I feel that maybe these were old issues that were now worked out. They replied to my emails within 4 hours, every time. Their server sometimes goes down for a couple seconds every 4-5 hours or so, or maybe just my internet, I never really knew. withdraws were always handled quickly too. With this over-the-counter business and scammers everywhere, I really have to say that they are top notch and I never felt unsure of where my money was or if I'd be victim of a scam at all, at any time! . I would have loved to stay with them but looks like CFTC is deciding for me, im sad to go and will miss them.... now back to looking for a new broker :( arrrr!
 
Loukas,
Cyprus,
Oct 10, 2010,
Guest

Tried out a couple of other brokers before GO and had problems with execution speed. GO has been quick and has good spreads as well.
 
Keith Lau,
New South Wales,
Sep 24, 2010,
Guest

Congratulations GO on sorting your stuff out and making my trading faster, good work
 
Bobby D,
Travelling through Asia from the US,
Sep 10, 2010,
Guest

I have to give Go two thumbs up. they don't restrict my leverage like most of the US brokers, the service has been great and the spreads are just about the best I have seen. I wish there was a way for the bank not to charge fees to send money to Australia, but hey... it is a small price to pay.
 
Hayden,
australia,
Sep 7, 2010,
Guest

I have been using go markets for a few months and I would like to post an unbiased oppinion. The positives: The prices they quote at most times are on par. There is no doubt of them re quoting. They provide MT4 as a platform. They are available most times. The negatives: It takes up to 10 seconds for them to fill a order, some times it is instant others not. This lag happens on a daily occurrence. If you are a scalper you will notice it more often. There have been the occasions where their service is not available at all for 10 to 20 minutes. Although this happens occasionally it can cost you pips.