To ensure that you make the best decision when choosing a good broker, this article takes a closer look at Go Markets Australia. By going through the information compiled here, you will be able to determine whether or not a particular broker is right for you. So, without further ado, here are all the details you need to be aware of.
When you open up an account with Go Markets, you have the opportunity to trade over 90 different products. These fall under the categories of:
- Binary Options
If you want to trade forex, there are up to 50 different currency pairs. To top this off, you will also have access to leverage up to 500:1. As for indices, you can trade 12 cash CFDs and get leverage up to 200:1. With metals, you can trade silver and gold without actually needing to own them. Instead, the CFD option allows you to trade on the price movement alone.
The same CFD principle is applied to both commodities and cryptocurrencies. As such, there is no need to purchase or own the underlying asset. Rather, your trades can be based on the more cost-effective approach of the price movement.
Signing up with Go Markets means that you can utilise either of the popular trading platforms MetaTrader4 or MetaTrader 5. In particular, this broker was fundamental to bringing this platform to Australia in the first place. Over the years, the broker has grown alongside the platform, ensuring that traders can have the best possible experience.
With MT4, you have the opportunity to trade either indices, forex, commodities, or binary option. There are built-in indicators that analyse any and all movements in the market, giving you a more detailed picture of the situation. You also get the full use of any Expert Advisors, making it simpler to trade automatically. This platform is quite useful for the trader on the go as well, since it can be downloaded onto many mobile devices.
Now with the MT5 trading platform, you get many of the same benefits as the MT4, with a few other bonuses thrown in. This includes one-click trading, market depth of current prices quotes, and allowances for hedges. The platform supports copy trading too.
It should be noted that both these trading platforms are equipped with demo accounts. As a result, you can practice your trading with up to $50,000 in virtual funds. While you practice, you will have access to leverage up to 500:1 and real-time spreads.
A good alternative to GoMarkets is Plus500. Read the Plus500 review here.
Along with the platforms, you will also have several trading tools to work with. These options include MT4 Genesis, Myfxbook, and Autochartist. In general, these tools will help you enhance each trade. They will provide you with more information and assistance, increasing your chances of success.
With this broker, there are just two accounts to select from: the Standard and the GO Plus+ account. As the name suggests, the Standard account is suitable for traders with low or medium trading action. The minimum deposit required is $200. From this, you get to enjoy no commission at all and spreads from 1 pip. The minimum trade size is 0.01 lots and you can enjoy leverage up to 500:1. Traders who open this account have access to trading tools and 24/5 support.
If you want to be involved in high trading volume, though, the GO Plus+ account might be a better pip. While this account offers the same features as the Standard, there are some key differences. To start with, there is a $500 minimum deposit. However, you get RAW spreads from as little as 0.0 pips and only have to pay $3 per side on a standard lot. If that isn’t enough, you get tailored services from a dedicated account manager.
Licensing and Regulation
One of the main benefits of signing up with this broker is that it is regulated by the ASIC. As such, it is required to adhere to all the benchmarks and requirements laid out by this regulatory agency. This makes it a great deal easier to trust the trade options offered by Go Markets.
Furthermore, it should be noted that the broker also keeps client funds in separate accounts. Therefore, you can be certain that none of your funds will be used by the broker for its own purposes. So, should anything happen to the broker’s finances, you will have peace of mind, knowing that your money will remain untouched.
If you are only just starting out in the forex market, you will be happy to know that this broker offers a number of different educational resources. This includes free education courses and a handbook. The support doesn’t stop there, however. There are also tutorials on how to use the MT4 platform.
Should you require further assistance, you could contact one of the many experts employed by Go Markets. They will offer you advice regarding trading techniques and more. These professionals can also teach you how to read the various charts and to become a better trader, in general.
Deposits and Withdrawals
Cash transactions with any broker are undeniably important. Thus, it is fortunate that there are so many options to select from with this broker. You can make payments with bank transfers, credit cards, and third-party payment options like Poli, Neteller, and Skrill. Your withdrawal options will depend on the kind of account you open with the broker.
As for charges, there are no internal depositing fees with this broker. Now, while the broker doesn’t charge internal fees for withdrawals, certain costs may still appear. This is due to the regulations set by the banking institution that you are using for such transactions. So, in this manner, you may incur certain charges.
These are the main features you need to understand about this broker. In conlusion, Go Markets is suitable for a number of different traders, regardless of the instruments or features you are interested in.