You will find a good selection of account types available with the broker no matter your experience level or trading need. Here is exactly what to expect from each.
GO Markets Demo
A demo account is a great place to start for any trader. This provides you with a completely risk-free trading environment to get to know a broker. The GO Markets demo account is available for any account type they offer, and you will have $50,000 in virtual funds to trade with.
You will have full access to features and charts as you would with live trading, as well as real-time data.
CFDs shares are not available through demo accounts under ASIC, SVG, FSC, and UAE SCA regulation, and nor are they available on live accounts under CySEC and FSA regulation.
The GO Markets standard account is an excellent and popular choice of account that is extremely accessible to new traders too. They offer a minimum deposit of just $100 under CySEC regulation, $200 under ASIC, FCA, and SCA, and $500 under SVG and FSA regulations.
You will also find great value spreads from 1 pip and no commission charged on any of the more than 600 assets offered (90+ under SVG regulation) through this account type. The minimum trade size is also kept low at just 0.01 lots.
Go Plus+ Account
The Go Plus+ Account is designed with more high volume and EA traders in mind.
Here, the minimum deposit is still very competitive at $250 under CySEC, $200 under ASIC and FSC, and $500 under the SCA. The spreads on offer are also excellent from 0 pips with a 3 AUD or equivalent commission per side on a standard lot.
Again, the minimum trade size stays at 0.01 standard lots, and you will have full access to all 600+ assets the broker offers for trading. This type of account is not available under the SVG and FSA regulation.
Go Pro Account
The Go Pro account is only available to those trading under FSA regulation and comes with a minimum deposit of $3,000.
The spreads on offer here also start from 0 pips with a $7 per lot commission applied to trading forex and metals per lot, and a $2 per lot commission on commodities and indices per lot traded.
With this type of account, as you can imagine from the minimum deposit, the main aim is on high volume traders though the minimum trade size stays at 0.01 lots. You will also have access to your own dedicated account manager with this type of account.
An Islamic account is offered by the broker. This account is fully compliant with all Shariah laws and can be applied to both the GoPlus+ account and standard account as you need it.
As is required of an Islamic account, trading here is swap-free with no rollover fee charged as this kind of interest payment would go against Shariah law.
If you have a Self-Managed Superannuation Fund (SMSF), then you can open this Trust/SMSF trading account to trade CFDs in proportion to the amount you have available in your fund.
If you are trading through this type of account, you must deal with your own related tax affairs and remain compliant.
You will have a choice of two types. These are the company account or the trustee account depending on your own situation. The availability of this type of account again depends on your location.
GO Markets Corporate Account
The GO Markets corporate account is available and ideal if you are trading as a business or corporate entity with the broker.
Much like the previous account type mentioned, you will have the choice of choosing between a company or trust/superannuation account type when you open this account. You can then further choose between an individual or corporate trustee option depending on your needs and situation.
Once again, the availability of this account type may depend on your location.
GO Markets Professional Account
A GO Markets professional account is available. You do need to meet at least two of the following three criteria though to qualify as a professional trader:
- Have made an average of 10 transactions of significant size per quarter in the past year
- Possess a portfolio of Savings & Investments of over AUD 500,000 in value
- Have relevant experience in the financial services sector
With two of these conditions satisfied you can open up the advantages of higher leverage while retaining negative balance protection up to AUD 100.000, and also qualify for volume rebates as well as dedicated support desk assistance, and professional analysis reports.
This account type is only available for Australian clients.
Deposit and Withdrawal
Account Base Currency
There is a good range of base currencies catered for by the broker. These include the AUD, USD, EUR, GBP, NZD, CAD, SGD, CHF, HKD, AED, and PLN depending on your location.
GO Markets Minimum Deposit
The GO Markets minimum deposit will depend both on the account type you choose, and the regulations you trade under.
For the standard account this means $100 under CySEC regulation; $200 under ASIC, FSC, and SCA; $500 under the SVG and FSA (Seychelles).
With a GoPlus+ account, your minimum deposit will be $250 under CySEC regulation; $200 under ASIC and FSC; $500 under SCA and the account is not available under SVG and FSA regulation. The Pro account has a $3,000 minimum deposit and is only available under FSA regulation.
|Regulation / Branch
GO Markets Deposit Methods
When it comes to deposit methods you will be able to make a bank wire deposit, use a credit/debit card that is Mastercard or Visa, and have a selection of eWallets to choose from including Skrill, Neteller, FasaPay, BPAY, Poli, DotPay, and checkout.com.
With that said, not all methods are available in all countries for everyone. BPAY and Poli are available for ASIC clients, while DotPay and checkout.com are for EU clients.
The deposit processing time is instant for all methods except for BPAY (1-2 business days), checkout.com, and bank wire transfers (both 1-3 business days).
GO Markets Deposit Fees
There are no GO Markets deposit fees charged from the broker side though you should check with your bank or eWallet provider on any fee they may charge, particularly on bank wires. A small conversion fee may apply if you are depositing a non-base currency.
GO Markets Withdrawal Methods
All of the GO Markets withdrawal methods are the same as you have available above for making a deposit. The time on a withdrawal may take from 2 to 5 business days to reach your account depending on the method you use.
GO Markets Withdrawal Fees
Again, there are no withdrawal fees from the broker, but you should check with your bank and eWallet provider on any fee they could charge.
The spreads and commissions charged depend on the account type you are trading with.
These are from 0 pips with an AUD 3 or equivalent commission per side on a Go Plus+ account, from 1 pip on a standard account (1.6 pips if trading under FSA regulation), and from 0 pips for the GO Pro account with a commission depending on the asset.
More details are listed below.
||GO Plus+ Avg Spread
||Standard Avg Spread
||GO Pro Avg Spread (FSA)
Again, for Go Plus+ Accounts, there is an AUD 3 commission or equivalent per side. This is the case for traders of all jurisdictions where the account is available (CySEC, ASIC, FSC, SCA).
For Go Pro accounts under the FSA, there is a $7 per lot commission on forex and metals, or a $2 per lot commission on commodities and index trading.
On CFDs, the following commissions per side apply:
- Australia: 0.08% with a minimum of AUD 7 or equivalent
- USA: US 0.2 per share with a minimum of USD 10
- Hong Kong: 0.18% with a minimum of HKD 50 or equivalent
As a CFD broker, you will find an overnight fee applied on every asset as it is with all other CFD brokers unless trading through an Islamic account. This fee is to keep your position open overnight and varies with the market and asset on a daily basis.
Non Trading Fees
There is an inactivity fee charged depending on your location. This applies after 3 months of inactivity and is $15 per month for European clients though it may not be charged to others. You should check with the broker depending on your situation.