The online brokerage firm GO Markets requires a capital deposit from the trader owning the brokerage account to activate the CFD and Retail foreign exchange (Forex) trading platform.
The minimum amount required with GO Markets is $100, which can be deposited via various methods, including wire transfer, debit card, credit card and eWallet. It should be noted that the minimum deposit with GO Markets may vary depending on the type of trading account chosen.
GO Markets generally does not charge commissions on deposits, but conversion fees may apply if depositing in a currency different from the account base currency.
What is the GO Markets minimum deposit?
The GO Markets minimum deposit is $100 for european traders and $200 for australian traders. Traders residing outside these jurisdictions will be required $500 to open an account with GO Markets.
The amount of the deposit varies according to your position, as does the range of base currencies made available.
GO Markets also provides several payment methods to facilitate your deposit.
The GO Markets minimum deposit features are listed in this table below:
| GO MARKETS DEPOSIT FEATURES | CHARACTERISTICS |
|---|---|
| GO Markets standard account | $100 minimum deposit |
| GO Markets plus+ account | $100 minimum deposit |
| GO Markets pro account | $3,000 minimum deposit |
| Deposit fees | No |
| Withdrawal Fees | No |
| Base Currencies | AUD, USD, EUR, GBP, NZD, CAD, SGD, CHF, HKD, PLN |
62% of retail CFD accounts lose money
Before trading in real money you might want to find out about all the GO Markets account types and what they differ.
What are the GO Markets account base currencies?
The GO Markets account base currencies include AUD, USD, EUR, GBP, NZD, CAD, SGD, CHF, HKD, AED, PLN.
The list may vary depending on the account type and the GO Markets Group entity you are trading with.
Using another currency may incur a conversion fee.
What are the GO Markets funding and deposit methods?
The GO Markets deposit methods features and fees are listed below.
- Wire Transfers: these are generally fee free at GO Markets
- Credit/Debit Cards: Visa or Mastercard are both accepted
- eWallets: some of the eWallets accepted by GO Markets include Skrill, Neteller, FasaPay, BPAY, Poli, DotPay, and Checkout.com
The availability of each depends on your location with the processing time often being instant.
The only exceptions on processing times are BPAY (1-2 business days), checkout.com and wire bank transfers (both 1-3 business days).
Does GO Markets charge deposit fees?
GO Markets does not charge deposit fees.
The only one you may encounter is a conversion fee if you deposit a non-base currency. It is possible that your bank or e-wallet provider may also charge you a fee, so it’s best you check with them first.
What are the steps to fund your GO Markets account?
Here is a step-by-step guide on how you can make a deposit to your GO Markets account and get started:
- Open a GO Markets demo account first
The very first step you should consider making is opening a demo account. This is a great place to check out what they have to offer, and learn more if you are a new trader.
It is totally risk-free and can be opened by heading to the broker’s website. You can then open a live account when you are ready.
Feel free to read our GO Markets demo guide for more information about it.
- Choose the account type you wish to open
Once you are ready to open a live account you can do so directly through the website of the broker. The second step is you will need to choose your account type.
The best resource to check for making an ideal choice on this is our GO Markets account types guide.
- Verify your identity with the broker
One of the key things you must do when opening your broker account and before making a deposit is to verify your account.
You will need an ID or preferably a passport to prove your identity, and a bank statement or utility bill to prove your address. These can be quickly uploaded for fast verification.
- Choose your preferred deposit method
With your account verified, you will be ready to make your first deposit. You can select from making:
- bank wire
- credit/debit cards
- different e-wallets, such as Skrill, Neteller
- and more options
- Wait for the deposit to be processed
Once you have deposited into your account, processing should be quite fast. Typically, this is as soon as one day but it will depend on the method you use.
How does the GO Markets minimum deposit compare with other major brokers?
The comparison between GO Markets’ minimum deposit and those of other brokers can be found in this table below:
| FEATURES | GO MARKETS | PEPPERSTONE | TICKMILL |
|---|---|---|---|
| Minimum deposit | $100 | $0 ($200 recommended) | $0 |
| Wire transfer | Yes | Yes | Yes |
| Credit card | Yes | Yes | Yes |
| PayPal | No | Yes | Yes |
| Number of deposit methods | 10 | 9 | 12 |
| Base Currencies | AUD, USD, EUR, GBP, NZD, CAD, SGD, CHF, HKD, PLN | USD, EUR, NZD, AUD, GBP, CHF, HKD, JPY, CAD, SGD | EUR, GBP, USD, PLN |
Warning
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you can afford to take the high risk of losing your money.
Does GO Markets offer deposit bonuses?
Go Markets doesn’t offer deposit bonus programs.
However, if you are trading with GO Markets under FSC regulation then you will be able to access their refer to a friend program. With this program, the clients referred must be new, and you can earn from $300 to $5,000 depending on the number.
This cash bonus will be deposited to your account once you reach the minimum number of new clients required to get the bonus, and such traders reach the minimum trading volume required. This is 3 forex or metal lots per client traded.
If you are using the broker under UAE SCA regulation, then there is a special discount in place for new traders. Each month, you are eligible for a discount by meeting the minimum monthly criteria depending on the asset. For forex and metals, this is a trading volume of $25 million for example.
To learn more, read our Go Markets review.