So, are you trading, or thinking of trading with GO Markets? Excellent.
One of the first things you will want to know about is the GO Markets minimum deposit. That and how to make your first deposit are key.
Our GO Markets review covers every aspect of the broker in detail, but here we hone in on the minimum deposit, and how to fund your account with an easy, step-by-step guide.
Let’s take a closer look.
What is the GO Markets Minimum Deposit?
GO Markets minimum deposit starts from $100, but it can be higher depending on the account type chosen and on your location. There are different ways to deposit and withdraw the funds in or from your account: Bank wires, credit/debit cards, and different e-wallets depending on your location like Skrill, Neteller, and FasaPay.
|Go Markets minimum deposit
||AUD, USD, EUR, GBP, NZD, CAD, SGD, CHF, HKD, PLN
Visit GO Markets to get a full overview of the broker (50% of retail CFD accounts lose money).
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 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.
||AUD, USD, EUR, GBP, NZD, CAD, SGD, CHF, HKD, PLN, AED
||USD, EUR, GBP, NZD, AUD, CHF, HKD, JPY, CAD, SGD
||EUR, GBP, USD, PLN
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
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 a bank wire, credit/debit cards, and different e-wallets, such as Skrill, Neteller, and more options we will detail below.
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 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, and 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) and 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.
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.
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.
GO Markets Accepted Base Currencies
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.
The broker supports AUD, USD, EUR, GBP, NZD, CAD, SGD, CHF, HKD, AED, and PLN all as base currencies depending on your location. Under CySEC regulation, you can choose between USD, EUR, and PLN as a base currency.
GO Markets Minimum Deposit Pros and Cons