GO Markets is a trading name of GO Markets Ltd, a company that is authorized and regulated by the Cyprus Securities Exchange Commission (CySEC) under reference number 322/17.
The company product portfolio consists of over 60 instruments. More than 50 of these are currency pairs and the rest are commodities and indices and. The firm claims that Forex spreads are near zero and it provides low latency due to the key location of its servers. A quick check shows that the average spread of the EUR/USD pair is 0.4 pips. As an EU-regulated brokerage firm, the maximum leverage for majors is 30:1.
Customers can trade through the MetaTrader4 (MT4) trading platform, which is considered the industry standard for Forex traders. The terminal is a popular choice for beginners as well as expert traders who trade Forex, analyze financial markets and use expert advisers.
There are two types of accounts – Standard and GO+. The main difference is that the Standard account is free of charge with narrow spreadс and at least EUR100 to open, while GO+ offers zero spreads with a fee of USD2 per lot and requires a minimum deposit of EUR250.
Educational materials are available in the corresponding section of the website including webinars and video tutorials. There are several deposit methods including bank transfers, Neteller, Skrill and dotpay.
Let us look at what the legal documents show. The Risk disclosure document warns that ‘the investor may lose more than he/she originally invested’, which means there is no negative balance protection if you are classified as a professional client. The good thing here is that the retail clients are covered by the negative balance protection and they cannot owe money to this firm. There is a clause about slippage, which states that the stop loss order cannot guarantee the limit of the customer’s loss. That means stop loss orders are not guaranteed and can be filled at the first available price. The Terms and Conditions document informs that the company acts as an agent to the client orders and not as principal. That means GO Markets is a pure STP/ECN brokerage company that transmits all client orders to its liquidity providers.
GO Markets Pty Ltd is the other brand of the company that operates in Australia but is not regulated and authorized by the Australian Securities and Investment Commission (ASIC), so be careful which one you will be dealing with.