GOMarkets Minimum Deposit

 

A GOMarkets mimimum deposit Review

 

GOMarkets Minimum Deposit

 

The GOMarkets minimum deposit amount that GOMarkets requires is $200.

The minimum deposit amount of AU$200 when registering a live account is equivalent to ZAR2386.09 at the current exchange rate between AU Dollar and South African Rand on the day that this article was written.

GO Markets is an Australian-based broker which is authorized and regulated by one of the strictest and most demanding regulating entities namely the ASIC, and as a regulated broker, one of the requirements is that client funds be kept in segregated accounts.

In complying with this, amidst several other strict rules and regulations, all client funds must be kept separate from the broker account, and it can only be used by traders to conduct trading activities.

In addition to ensuring client fund security through segregated accounts, regulated brokers such as GO Markets are required to be a member of a compensation scheme or fund which pays out a certain amount to eligible clients in the case of company insolvency.

 

Deposit fees and deposit methods

 

GOMarkets does not charge deposit fees and traders have the following payment methods through which they can make the minimum deposit:

  • FasaPay
  • Neteller
  • Bank Wire Transfer
  • Poli
  • Bpay
  • Skrill, and
  • Credit/Debit Cards

 

GOMarkets supports a variety of deposit currencies in which traders can fund their accounts including:

  • AUD
  • USD
  • EUR
  • GBP
  • NZD
  • CAD
  • SGD
  • CHF, and
  • HKD

 

Step by step guide to deposit the minimum amount

 

Once the trader has completed the process of registering on the website, the trader can make the initial minimum deposit by logging into their Client Portal after their trading account has been verified and approved.

As soon as traders have access to their Client Portal, deposits can be made from here or alternatively they can be made into the trading account by using the trading platform that the trader chose.

Traders should take note that with making deposits by using Bank Wire Transfer, the transactions may take a certain amount of time depending on the method, time of the day, and day of the week.

Bank Wire Transfers take anything from a day to a few business days depending on the time the payment was made during the day along with the day of the week.

Traders need to ensure that payments to and from the trading account is done through an account that they registered with GO Markets as third party payments are strictly prohibited.

 

Pros and Cons

 

PROS CONS
1.      Deposit fees are not charged 1.      None noted
2.      Various payment methods supported
3.      Variety of deposit currencies supported

 

FAQ

 

What is the minimum deposit for GOMarkets?

AU$200.

 

How do I make a deposit and withdrawal with GOMarkets?

  • FasaPay
  • Neteller
  • Bank Wire Transfer
  • Poli
  • Bpay
  • Skrill, and
  • Credit/Debit Cards

 

Does GOMarkets charge withdrawal fees?

No.

The GO Markets website does not indicate whether withdrawal fees are charged.

 

How long does it take to make a withdrawal?

  • Bank Wire Transfer – anything from one to several business days
  • Credit/Debit Cards – instant but may take up to a day or few days
  • e-Wallets – instant