GOMarkets Fees and Spreads

 

A GOMarkets Fees and Spreads Review

 

GOMarkets Fees and Spreads

 

GOMarkets fees spreads and commissions start from AU$3.00 with spreads from 0.0 pips.

GOMarkets has a low and incredibly competitive spread when compared to what other brokers offer by offering a spread list which starts from 0.0 pips along with commissions charged from AU$3.00 when using the GO Plus Account.

GOMarkets trading fees are according to the type of account that the trader chooses and the options along with the spread list, leverage, minimum deposit required, and commissions are as follows:

  • Standard Account – AU$200 minimum deposit, leverage up to 1:500, zero commissions and spreads that start from 1 pip.
  • GO Plus Account – AU$200 minimum deposit, leverage up to 1:500, AU$3.00 commissions charged per side and spreads that start form 0.0 pips.

The minimum deposit that GO Markets requires to open an account is AU$200 which is just above average when compared to other brokers.

 

Other Fees

 

Traders should note that certain financial instruments can only be traded during a certain time of the day, especially when considering different time zones, and additional fees may be charged should they hold these positions after they have closed.

Traders should always note that Overnight fees, otherwise known as swap fees or rollover fees, may be charged for positions held open for longer than a day.

GOMarkets does not offer the option of an Islamic account to traders who are of Muslim faith and who operate under the Sharia Law.

GOMarkets does not offer traders with spread betting and therefore spread betting fees are not applicable to this broker.

 

Broker Fees

 

GOMarkets does not charge any deposit fees or withdrawal fees when traders either fund their trading account or withdraw funds from it.

GOMarkets does not waive any additional broker fees such as inactivity fees or fees pertaining to account maintenance and management.

 

Pros and Cons

 

PROS CONS
1.      Tight and competitive spreads 1.      Islamic/Swap-Free account is not provided
2.      No deposit or withdrawal fees 2.
3.      Low minimum initial deposit amount  
4.      Fixed commissions on trades  
5.      Low commissions when compared to other brokers  

 

FAQ

 

How many instruments can I trade with GOMarkets?

You can trade the following financial instruments:

  • Forex
  • Share CFDs
  • Indices
  • Metals
  • Commodities, and
  • Cryptocurrencies

 

Which platforms are supported by GOMarkets?

GO Markets provides the following popular trading platforms:

  • MetaTrader 4
  • MetaTrader 5
  • Mobile Trading Platforms (MT4/MT5)
  • WebTrader, and
  • Social Trading through Myfxbook

 

Does GOMarkets offer leverage?

Yes.

GO Markets offers a maximum leverage of up to 1:500.

 

What spreads can I expect with GOMarkets?

Spreads from as little as 0.0 pips.

 

Does GOMarkets charge commission?

Yes.

Commissions are charged from AU$3.00 when using the GO Plus Account.

 

Is GOMarkets regulated?

Yes, GO Markets is regulated by the highly reputed ASIC in Australia.

 

Is GOMarkets a recommended forex trading broker for experts and beginners?

Yes, GO Markets makes generous provision for both beginner and expert traders through its comprehensive and competitive trading conditions.

 

What is the overall rating out of 10 for GOMarkets?

8/10