GOMarkets.com Review Visit site

Updated: May 22, 2020
Formerly GoMarkets.com.au
2.828 · 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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2.828 · 221 REVIEWS
Forex Peace Army
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Consumer Reviews

Adrian,
Adelaide, Australia,
Jun 12, 2016,
Guest

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.
 
Shinty,
India,
May 8, 2010,
Guest

Gomarkets shows tight spread margin as per it website, EUR/USD = 1pips, but in real why spread margin high with 2 pips

if company show original spread margin 2 pips so why it show in its webside that spread margin is 1 pis
it is not good
 
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.

 
Dave,
Detroit, MI,
Dec 13, 2009,
Guest

Fred, I wonder if you compared Go pricing during news with another ECN such as Dukascopy non MT4 platform that shows market depth? Prices can change constantly during news time so a true ECN would show this and there could be instant spikes.
 
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.
 
Joh,
Melb, Australia,
Jul 24, 2015,
Guest

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
 
emma,
new zealand,
May 20, 2009,
Guest

used go forex for about 6 months no problems to speak of , just checked out the new demo platform and quite excited about the spreads.
hope the spreads are the same on the live platform

Review Moderation Team Note: The rating was removed. Please leave a followup with a rating after trading live for a few weeks.
 
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.
 
Paul Hill,
Melbourne,
Aug 29, 2007,
Guest

In relation to Uros Umek's comment on our company, you are NOT a client of Pacific Trader Australia so have no idea who you have been trading through. I do however wish you well in pursuing who it is you are using, But would ask you to refrain making negative comments about our company with whom you have no dealings with.
 
brucewhain,
New York,
Mar 20, 2010,
Guest

Believe the problem with delayed execution is the same as was experienced with the preeminent US broker Interbank FX (IBFX) about 5 years ago. They finally notified us that work would be done and shut down for a few days after which the old high speed obtained. (Prior to the shut-down they would never admit in private correspondence that anything was wrong.)

This is probably an indication that GoMarkets is swamped with large orders do to expanding customer base and in need of expensive overhaul to allow liquidity in high volume... also that they're well liked and will be around for a while if not regulated out of business.

No rating since have not tried GoMarkets but am scoping new brokers with the aim of fleeing US regulatory environment which, leverage-wise at least, has already spread its debilitating effects to Canada. Bet ya England's next.
 
Claudia,
Italy,
Sep 17, 2009,
Guest

I have applied for a live account and afhter I click "send" they show me a message that they need a notary certification for no AU residents.
This is ok but they should give this information before somone send there personal informations. This cert costs 250 euros and i will not be interested to pay this to open a trading acocunt. I currently have live accounts with 5 brokers and never has been asked.
 
Pedro Roque,
Lisboa, Portugal,
May 5, 2010,
Guest

Since I am fed up with my current broker (Alpari UK, or should I say requote, requote, requote...Because that name would suit them better), I downloaded the demo of GoMarkets. At first sight it looked ok, but, as I trade very quickly on the 1 minute charts I noticed some interesting stuff. When I am winning and I enter the closing order the spread always changes against me and when I am losing the orders are immediately closed with no issues...Hummm....
 
Y.C.,
Taiwan,
Sep 30, 2009,
Guest

I have the same experience as Claudia, Italy. That notary document would cost more than 250 euro in my nation because it has to be translated into English. Their staff are helpful and friendly, but the company policy is annoying.
 
Adelaide, Australia (Inside the offices of GO Markets),
Jan 9, 2019,
Registered user

Honest & Reliable Fx Broker

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.
jake,
Canada (Really Australia),
Jan 21, 2009,
Guest

Go markets had a shaky start with MT4 but working better than my IBFX account, using my own EA that trades usd/jpy and going very well

Review Moderation Team Note: 4 Star rating removed. This review came from the same location as the review from Chris, GoMarkets left on 2009-08-18.

The FPA does not appreciate review spammers.

 
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 !!!!
 
Graeme Little,
Queensland, Australia,
Jul 17, 2010,
Guest

GoMarkets are very approachable by phone and seem very helpful. No wonder, while they are offering this great personal service, behind thew scenes they are ripping you off every single trade, with a smile of course.
You just have to compare the GoMarkets MT4 charts against other MT4 brokers to see that the Forex market highs and lows are very different in the world of GoMarkets. Do you think this will affect your trades, you bet.
It's really like playing roulette in an online casino. The software is rigged to ensure that over the long term you lose.
Please read the Forum for examples of what I am talking about.

If a broker can apply spreads of up to 250 pips to an open position whenever they see fit, is that a scam? Well in my book it's a joke. You enter the trade believing that you are paying a fair 2-3 pip spread and then suddenly you get a margin call because your profit/loss position has changed dramatically.
GoMarkets blame low liquidity in times of major news announcements and then say it's the software that does this automatically. Not good enough!!!!!!
Who in their right mind would enter a trade with a 100+ pip spread?
Then there is the unexplained spikes in the market which don't appear on other brokers charts? Strange?
So effectively what you are seeing on your charts is not the market at all. It's GoMarkets interpretation of the market, in their favour of course.
They get their pricing from the banks and then their software makes the adjustments before giving you the delayed version of the market.
If you think this is reasonable and that is how you want to trade then go right ahead, but you will make some money and then you will lose it because they are controlling you.
The Forex brokers are unregulated, so it is buyer beware.
I think learning to trade is a tough enough thing to learn but if you add in delayed charts that are not even accurate reflections of the market and 100 pip spreads, what hope do any of us have?
Be very careful when choosing brokers. My suggestion is to compare their charts to other brokers and at least check that the daily prices are fairly indicated on your charts.
Then, be very wary of having open positions overnight, you are at the mercy of the brokers. Imaging have a full lot on a trade at $10/pip then the broker hits you with a 100 pip spread, the trade is now costing you $1000 just to close the position. But even worse, they can close it for you. WOW!!!
 
Jan,
Novak, Czech Republic,
May 23, 2018,
Guest

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.
 
Frank,
Australia,
Aug 27, 2010,
Guest

Absolutely horrendous for trading. They dont have a backup server. Their servers went down a couple of days ago during prime trading sessions (US and London Sessions were open), and there was no way to manage your trades (no connection) for over an hour. No phone support was present either! And you would leave your money with them? Very annoyed. All i got from them the next day was a "sorry".
 
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:

Klavs
Customer support

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

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

Anh Quynh Ngo
898871

Klavs joined the chat
Jide left the chat

Klavs
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?

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

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

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

Klavs
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

Klavs
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
Klavs
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?

Klavs
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.
 
Benny,
Medan, Indonesia,
Nov 9, 2011,
Guest

Bad broker, on Nov 3 you can see a spike at NZD/USD between 18:15 and 22:15. Just chek it guys...
 
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.
 
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?
 
Luis,
, Portugal,
May 1, 2013,
Guest

I've seen here comments that this or that strategy is not "legal", but with no evidence that these people have any real kownledge of what they are talking about. Just nonsense comments with no real knowledge of the situation, becasue otherwise those people would be rating Go Makerts with 1 star as well.

Whatever GoMarkets claims are the plain and only real fact is that Go Markets wipes profits, many months after the corresponding trades have been exectuted at their sole and own discretion.

I've asked times and times again for GoMarkets to specify the trades they claim have problems and that justify the unconsented withdrawal in my account GoMarkets has made. GoMarkets is uncapable to deliver any proof or even trade list that can explain the unconsented withdrawal. I still wait for some kind of justification after more than 1 month and several requests.

When one financial company maks withdrawals in your account without your consent and with no justification whatsoever,is plain robbery.

On top of all this, GoMarkets took away an amount quite HIGHER than my overall and accumulated profits, so also this is a proof that their robbery action is no way connnected with reversed "illegal" trades.

How can someone trust a company where your money is exposed to like this ?

How can you trust someone that has made a contract with you (trade) and 5 or 6 months after comes after the money you have made with the contract, and robs you plainly just because they have the money on their side ??

GoMarkets is an horror movie, and since my more than 6 years of experience of Fx Trading I have never, never experienced such nasty behaviour...

A complaint is now running at the regualator, against this bad company, taht should not be allowed to take deposits from customers because they dont know what are their fiduciary duties.
 
europiper,
middle-east,
Dec 17, 2008,
Guest

back to one, they widened the spread from a few currencies,not only at night like some others,but also by day. but on their website they still publicise spreads that are not real.

2008-12-16 4 Stars changing my rating to 4 stars: besides aud/nzd all the other prices are fix and stable like indicated, very robust platform, no stophunting or other problems,even their trade ideas are good.

2008-11-25 1 Star On their website they indicate a spread of 10 pips for AUD/NZD
on the demo it is 10 spread, but when you open a real account it goes from 13 to 19......