GO Markets Minimum Deposit Guide (2023)
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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.
This guide covers every aspect in detail.
Round-up
| FEATURES | GO MARKETS MINIMUM DEPOSIT |
|---|---|
| GO Markets standard account | $100 |
| GO Markets plus+ account | $100 |
| GO Markets pro account | $3,000 |
| Deposit fees | No |
| Withdrawal Fees | No |
| Base Currencies | AUD, USD, EUR, GBP, NZD, CAD, SGD, CHF, HKD, PLN |
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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.
GO Markets accepted base currencies
The broker supports the following as base currencies depending on your location:
- AUD
- USD
- EUR
- GBP
- NZD
- CAD
- SGD
- CHF
- HKD
- PLN
Under CySEC regulation, you can choose the base currency between:
- USD
- EUR
- PLN
Your account base currency is that with which you decide to open your account, and typically the currency you deposit and withdraw in. Using another currency may incur a small conversion fee as already mentioned.
GO Markets payment methods
As mentioned above, there are several ways to make your deposit. GO Markets accepts:
- bank wire transfers
- credit/debit cards that are Visa or Mastercard
- several e-wallets including Skrill, Neteller, FasaPay, BPAY, Poli, DotPay, and Checkout.com
These will depend 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)
- If you are making a withdrawal, that can take between 2-5 business days to reach your bank account again depending on the method
Deposit fees
There are no deposit fees charged by the broker. 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.
Withdrawal fees
As with deposits, there are no withdrawal fees charged from the broker side, with the exception of if there is a conversion fee for non-base currency. Again, your bank or e-wallet provider can have their own fees that you should confirm first.
How to deposit funds into 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:
1. 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 (62% of retail CFD accounts lose money). You can then open a live account when you are ready (62% of retail CFD accounts lose money).
Feel free to read our GO Markets demo guide for more information about it.
2. 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.
3. 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.
4. 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
5. 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.
GO Markets minimum deposit vs. other brokers
The table below helps you compare the GO Markets minimum deposit with that of other brokers as well as more key points.
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.
| 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 |
GO Markets deposit bonus and promotions
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.
GO Markets minimum deposit pros and cons
Pros
- The broker has a very low minimum deposit
- No fees are charged on withdrawals or deposits
- There is a good range of payment methods available
- A good number of base currencies are offered
Cons
- Base currencies and payment methods depend on your location
- The minimum deposit under SVG and FSA regulation increases to $500
To learn more, read our Go Markets review.
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